FAQ Categories

What is Business Credit?

Business Credit is essentially a rating of a company’s ability to handle its ongoing finances, it’s purchasing power, and its debt. Business credit affords more funding options for trucking and transportation companies, enabling them to obtain credit lines and loans to purchase the fuel, supplies, and equipment their businesses need to become and stay lucrative.

Why is Business Credit Important?

Trucking and transportation businesses are considered among the highest-risk businesses by lenders. For this reason, it can be challenging for even seasoned trucking and transportation companies to obtain credit lines and loans. Establishing and maintaining good business credit, (as well as personal credit), enables trucking business owners to secure credit lines and loans vital to expanding their businesses with the lowest possible rates and payments.

Do I really need Business Credit?

Unless you have no absolutely zero intentions ever of borrowing money or financing anything for your business, the answer is YES. A good business credit score not only allows your business to get money, it will also save you money as a higher business credit score will almost always translate to lower interest rates for any financing. Most importantly, and especially for truckers, it is nearly impossible to scale your business (ex. grow your fleet) without an ongoing access to funds.

Speak to BLF about how to establish and work on your Business Credit.

BLF is here to assist you

Our goal is to provide you with expert help and guidance for you needs. Whether you need funding or business services for your trucking company, you are in reliable hands.

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