Company Car Insurance

Seems like a lot of businesses are trying to save money these days. One option employers are adopting is to use the employees’ insurance as a stop-gap measure on their own liability.

For example, an employer might carry liability insurance but make employees use their own cars – and their own car insurance. That way, if employees get into an auto accident, the employee’s insurance cover kicks in, instead of the employer’s. But this is generally a bad idea.

Employers Risk Increased Liability

If your employee is using his own vehicle, instead of the company one, then you may find yourself on the nasty end of a lawsuit – or possibly fines.
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Restore Credit

Getting your financial life and credit back on track after going through tough times is not an impossible task, by any means, but it does require an effective and proven plan.

Whether you have filed for bankruptcy, gone through foreclosure, experienced late payments, collections, judgments, repossession or the dreaded tax lien, there is hope.

Now, first of all don’t believe for a second that there’s nothing you can do about your past negative credit history because there is, which I will cover shortly.

First, let’s talk about getting new credit regardless of how low your credit score is. The obvious is to open up a secured credit card right?

Well, not exactly.
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Vendor Credit

Getting approved for a line of credit with a supplier is simply an opportunity for you to start building your company’s creditworthiness.  The key to establishing positive credit is to make regular purchases using your vendor credit lines and then paying invoices on or ahead of the due date.

If you do not make regular purchases then there is no way for you to establish any kind of payment history. So it is vitally important that you carefully select the suppliers you apply for credit with.

Make sure that you can use the products and services they offer to develop and grow your business.
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Best Small Business Credit Cards

With fast access to cash, convenience and all the perks that come along with it; a business credit card is a standard tool used by business owners.

But did you know less than 50% of the credit cards obtained by business owners nationwide are actually in the company’s name?

It’s a shocking reality to say the least but the good news is there are plenty of business credit cards that cater to savvy business owners like you who understand the importance of establishing business credit.
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Dun and Bradstreet Report

A main reason to manage business credit is that it is not protected like personal credit. Even though the Fair Credit Reporting Act allows you to view and dispute the inaccuracies in your personal credit reports, the act does not apply to business credit.

Since business credit reports are less transparent than those for individuals, business owners should be diligent in managing their business credit file regularly, since it is much harder to initiate disputes to remove inaccuracies.
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Virtual Office Address

During the initial stages of the business credit building process I’m sure you have heard about the importance of setting up a commercial office location. A physical location that is zoned for business speaks volumes for your company and its operation.

If you decide to use your home address for your company’s business address keep in mind that some lenders may not extend credit to a “home based” business. However, you still have many credit opportunities with a home based business so don’t let that stop you.
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Get a Duns Number

Did you know a DUNS number is the most widely used number for identifying companies in the United States?

Did you also know suppliers and creditors alike will pull a D&B credit check on your business when you apply for credit?

If you are serious about establishing credit for your business then the first thing to do is get listed in Dun and Bradstreet’s database and set up your company’s credit file.
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