Finance Suite is a software, driven by Finance Suite technology, designed specifically to assist businesses acquire capital and build credit via lines of credit from banks and other credit providers. Via their Partner Program, they provide the software as an integrated white label solution to assist B2B businesses in obtaining capital for their clients. Through this funding source, business owners are able to not only receive capital from their partner/subsidiary, but also in many cases, in excess of their investment. Additionally, while working with their partner/subsidiary, business owners are provided access to the underlying lines of credit that they initially applied for as well. With these two sources, business owners can leverage their capital as though it were an additional line of credit; however, in return, they must disclose all related business finance details to their primary financial institution.
As a result of applying for traditional financing options, small business owners often feel isolated and overwhelmed by the plethora of information they are required to digest and process. This feeling of overwhelm can actually perpetuate the decision of many business owners to utilize an alternative financing source such as lines of credit from an off-site vendor. Unfortunately, most such off-site vendors typically do not provide better understanding of the nuances involved in leveraging financing in the business credit education space. Worse yet, many vendors will actually charge borrowers much more than the actual cost of procuring the financing in order to sell their financing products.
Thankfully, there are resources available that do provide better understanding on the finance options available to business owners. In particular several finance programs from off-site vendors such as Finance Partner, Inc. (a subsidiary of Citibank) and Trans Union, Inc. (a subsidiary of General Electric Co.) are designed specifically to aid small businesses in building a better understanding of how to obtain commercial funding. In some cases, these finance programs are directly linked to personal credit reports from the major credit reporting agencies. In other instances, these finance programs may provide small business credit reports that are not linked to personal credit reports.
As a result of obtaining the finance education that is necessary to properly analyze commercial financing options, business owners can more effectively negotiate for the best financing terms and eliminate potential pitfalls such as over-commissioning or mis-sold financing products. In some cases, these finance programs may even help business owners create accurate and favorable business credit scores. In addition, a business credit score can be further improved by making timely payments on all of one's loans and credit card applications. One's business credit scores will improve when one takes the time to manage one's personal credit accounts with the Experian business credit monitoring service.
Another important facet of business credit education is understanding how to appropriately use trade lines of credit. Trade lines of credit are designed to quickly fund a business' cash flow needs. In addition to providing cash flow liquidity, trade lines of credit are also used to finance acquisition expenses and make purchases. Businesses frequently obtain trade line financing to take advantage of a special financing option known as seller financing. For example, if a business has existing debt and has plans of purchasing additional equipment, it can take advantage of seller financing to obtain the financing it needs to purchase the needed equipment.
Another important facet of business credit education is the importance of . . . . . . maintaining good business credit scores. A good business credit score indicates that a business owner has created a sound plan to repay his or her debts. Moreover, good business credit scores also reflect a successful repayment strategy that makes future debt payments easier to budget for. In addition, good business credit scores allow lenders to obtain more loan applications. Finally, good business credit scores improve a business owner's chances of obtaining future credit from other sources.
Experian business credit scores provide an important business owner's tool to aid them in managing their finances. Commercial credit scores can be obtained free of charge or for a fee. Either way, business owners should be able to obtain the necessary information to ensure that their scores are in good standing. Business owners should always check their Experian business scores on a regular basis. This ensures that they do not lose ground in their search for additional financing opportunities.
If you need help with managing your business credit, contact Experian at anytime. We offer a full range of services designed to suit your unique business needs. To learn more about how we can help you manage your business credit, contact us today. Search today on our website to receive a free business credit building business credit score, a free trial version of our software and other helpful business tools.