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A business credit score is similar to a personal credit score, such as a FICO score, but is based on a company’s creditworthiness instead of an individual’s creditworthiness. Business credit scores are built by loans, lines of credit and credit cards that are taken in a business’s name and do not have personal liability attached to them. Similar to personal credit, a strong business score can lead to lower insurance premiums, lower interest rates and can help your business be approved for a loan, lease or line of credit. According to the National Small Business Association, 20 percent of small business loans are denied due to business credit. 
Building credit history for your business is similar to building your personal credit history. It takes time, and a bit of financial savviness, but with the following tips you’ll be well on your way:
Building a solid business credit score doesn’t happen overnight, but with a little patience and time, you can set your business up for success. A good business credit score can open the door to starting, supporting and growing your business.