About Business Credit Accounts

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How can I get credit for my business?

About Business Credit Accounts

Establishing business credit is similar to establishing credit for personal uses. Open a business checking account. Apply for a business credit card to track your business expenses and keep them separate from your personal expenses. Eventually, you'll probably need to apply for a business line of credit to help you grow your business, meet extraordinary, unanticipated business expenses, or cover cash flow crunches. By starting small and developing a steady business relationship with your bank, the way will be paved for you to do so down the line. You may also want to consider applying for a business loan backed by the U.S. Small Business Administration (SBA). The SBA, aside from other functions, offers guarantees to lenders that might otherwise not approve a small business owner for a conventional loan. For more information on available loans and qualifying criteria, visit the SBA's Web site.

   

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