Get your score and take steps to build your business's financial health
Simply search for your business in Hansa and we will find your records with the major credit bureaus.
Complete a series of programs designed to teach you the ins and outs of business credit.
As you take steps to grow your credit, you can check back in Hansa to see your score at any time.
Hansa members enjoy access to a wide variety of small business tools and resources that make their lives easier.
By signing up to get your credit scores, you're joining other folks just like yourself who want to level up their business.
"Seeing my credit helped me understand why I was rejected for my last application."
"I didn't realize the NAICS code I select on loan applications affects my approval."
"Hansa showed me 3 business loans that I'm qualified for - I didn't think I could get any”
Business credit is like a financial report card for your company, showing your creditworthiness to lenders, suppliers, and other financial institutions. It represents your business's ability to handle debts and financial obligations. Having good business credit is important because it can help you secure loans, get better interest rates, and build credibility with partners and vendors. Strong business credit can also separate your personal finances from your business finances, protecting your personal assets and giving you more flexibility to grow your business.
To put it most simply, business credit functions similarly to personal credit but is focuses singularly on company's financial behavior. While your personal credit score is likely tied to things like a mortgage or a car payment, the credit score of your business will typically be affected by factors like payment history, credit utilization, and company size.
Maintaining separate business credit is key to managing your business finances without affecting your personal credit score, giving you more control and credibility in your professional endeavors.
Building business credit can be a journey, and the timeline can vary depending on several factors.
Generally, it takes several months to establish a solid business credit profile. Starting by registering your business as a legal entity and opening a dedicated business bank account is crucial. From there, using business credit cards and establishing trade lines with suppliers can help speed up the process.
Patience and consistent financial management, like paying bills on time and keeping your credit utilization low, will pay off over time, allowing your business credit to grow steadily and set your company up for success.
Several factors can impact your business credit, and understanding them is the first step to building a strong credit profile.
Payment history is one of the most significant factors; consistently paying your bills on time shows lenders and suppliers that your business is reliable.
Credit utilization, or the amount of credit you're using compared to your total credit limit, also plays a key role. Keeping this ratio low demonstrates good financial management.
Additionally, the length of your credit history, public records such as bankruptcies or liens, and the diversity of your credit accounts (like loans and trade credit) can all influence your business credit score.
By managing these aspects effectively, you can maintain a positive business credit profile and open doors to better financing opportunities.
Unlike your personal scores, business credit is often harder to find or very expensive to view. Some places will charge you hundreds per month or even thousands outright just to view this information. For $14.99 per month you can see your business credit with Hansa and start understanding your creditworthiness as a business.