BUSINESS CREDIT
- Understanding and improving your SBSS business credit score.
- Small Business Scoring Service (SBSS) Credit Scoring
- SBSS, used by the Small Business Administration (SBA), generates a hybrid credit score ranging from 0 to 300 that combines personal and business credit data. It is widely used by over 7,500 lenders to assess creditworthiness for business loans. To maintain a good SBSS score:
- Make on-time payments consistently.
- Keep credit utilization low on credit cards.
- Maintain a lengthy and healthy credit history.
- Monitoring and improving both business and personal credit reports is essential for a strong SBSS score,
Let’s discuss your business funding goals and how business credit can get you there!
FUN FACTS
- Establish a business cell number in your entity name
- Register your business name on google
- Obtain a business fictitious statement with your county
- Pay Franchise State Tax Board after 1st year of entity formation
- Update Registered Agent after 1st year for FREE
- Create Excel spreadsheet for new business credit accounts
- Create P&L track expenses monthly