A business line of credit, also known as a credit account or revolving credit, is an arrangement in which a company borrows funds on a short-term basis up to the credit limit. The company pays interest only on what it actually borrows and can request more funds if needed. It's often used by companies that need cash to operate but do not require any long-term financing. Learn more about business lines of credits and how you can use them for your business!
A business credit score is a number that is given to your business to represent the likelihood of defaults, payment delays, or bankruptcies. It is calculated based on data from vendors you do business with, public records like liens and judgments, and your company's own financial statements. In this article, we'll cover the most important things you need to know about your business credit score so that you can strengthen it for your business.