Using business credit as a tool to cut out the competition
Building and maintaining excellent credit to achieve better financial options is not the only reason companies use business credit reports. Many businesses can beat out competitors by evaluating their credit on a continuous basis. When aligning with partners, new accounts, or even hiring top employees using your excellent credit status as a selling point can help cut out the competition and give you an edge.
Most want to align themselves with like minded organizations that have strong credit and financials since it is a testament that the business is a success. Presenting a copy of an excellent business credit report along with your offer is an impressive way to strengthen your position. Especially if you know your competition has a sloppy paying history with lenders and/ or vendors – keep on top of your business credit to keep ahead of the competition.