Making smart decisions with your small business loans can help improve your business credit score. It will also allow you to access more credit than your do with a personal loan. Learn the 4 ways a business loan can improve your bad credit by viewing our Slide Deck. If your business is currently held back by bad credit, you can change that with the right small business loan. Use these tips to make your business credit score a financial asset instead of a liability. Read the full article here: https://www.unitedcapitalsource.com/blog/4-ways-the-right-small-business-loan-can-help-with-bad-credit For more business tips view our blog: https://www.unitedcapitalsource.com/blog

2. YOU NEED CAPITAL
TO EXPAND YOUR
BUSINESS
D&B's 2014 Economic Forecast
showed that 22% of small business
owners said increased access to
capital would help them expand. In
the 2016 forecast, that percentage is
now 26% !
View the full article: https://www.unitedcapitalsource.com/blog/4-ways-the-right-small-business-loan-can-help-with-bad-credit
.

3. IMPLICATIONS OF
BAD CREDIT
Banks typically reject small
business loan applications due to
bad credit.
Because business credit reports
aren't confidential, bad credit is
also a threat to your business.
Potential partners, vendors, and
clients can check your business
credit report to determine
whether they want to do business
with you.
.
View the full article: https://www.unitedcapitalsource.com/blog/4-ways-the-right-small-business-loan-can-help-with-bad-credit

4. LOOK FOR THE RIGHT LOAN
PACKAGE FOR YOU, IT CAN TURN
BAD CREDIT INTO GOOD CREDIT
.
View the full article: https://www.unitedcapitalsource.com/blog/4-ways-the-right-small-business-loan-can-help-with-bad-credit

5. UNDERSTAND PERSONAL
VERSUS BUSINESS CREDIT
SCORES
Before deciding which loan package to take
(and from whom), consider the impact on both
your credit scores. There are four ways getting
the right small business loan will help improve
your bad credit rating.
.
View the full article: https://www.unitedcapitalsource.com/blog/4-ways-the-right-small-business-loan-can-help-with-bad-credit

6. #1. WHAT GOES
INTO YOUR
CREDIT REPORT
Make sure your lender
reports your loan and
payments regularly to
all the right business
credit reporting
agencies.
.
View the full article: https://www.unitedcapitalsource.com/blog/4-ways-the-right-small-business-loan-can-help-with-bad-credit

7. #2. A CHANCE TO
CREATE A NEW
PAYMENT HISTORY
How reliable are you in
paying your loan back.
To create a new and
improved payment history:
• Make payments on time
• Even better - make
payments early
Most reporting agencies
won’t give your business
their top scores unless they
see early payments
consistently.
.
View the full article: https://www.unitedcapitalsource.com/blog/4-ways-the-right-small-business-loan-can-help-with-bad-credit

8. #3. KEEP
YOUR CREDIT
UTILIZATION LOW
Business loans and business credit
are different.
Business credit = access to cash
(think: credit card or line).
Don’t keep it maxed out.
Keep your balance under 30% (on
a $50K credit card or line = a max
of $15K).
.
View the full article: https://www.unitedcapitalsource.com/blog/4-ways-the-right-small-business-loan-can-help-with-bad-credit

9. #4. GET BETTER PAYMENT
TERMS
If you have mostly short payment
terms (i.e. less than 30 days), this
marks you as a risk.
If your terms are 60- or 90- days, this
shows great confidence in you.
(Standard terms and their length vary
by industry.)
A short-term business loan can help
you reset, but only if you consistently
make payments on time or early.
Again, be sure your vendors report
your new track record to the top 3
credit agencies.
.
View the full article: https://www.unitedcapitalsource.com/blog/4-ways-the-right-small-business-loan-can-help-with-bad-credit

10. GOOD BUSINESS CREDIT
IS GOOD BUSINESS
Using small business loans wisely to improve your credit
scores makes paying for money in the future much cheaper.
This makes a good business credit score a financial asset in its
own right. If your business is currently held back by bad
credit, you can change that with the right small business loan.
.
View the full article: https://www.unitedcapitalsource.com/blog/4-ways-the-right-small-business-loan-can-help-with-bad-credit