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Make timely payments for all bills, including vendors, suppliers, utilities, and credit cards, demonstrating responsible financial behaviour.
Review your business credit reports to keep track of potential errors or discrepancies that may affect your ability to obtain financing.
If your business is new, start building credit by opening a business credit card and using it responsibly. Making timely payments on the card will strengthen your credit profile.
Maintain a low credit utilisation ratio by using a small portion of your available credit. This signals financial stability to lenders.
Ensure that you’re also keeping track of your suppliers’ credit scores so that, in case anything goes south, your credit score is not impacted.
By diligently applying these strategies, you can position your business for enhanced financial opportunities and growth. Apply for a business loan with us and start building your credit today!
* Please note that this webstory is for your knowledge only. Loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms, disbursal process, foreclosure charges and foreclosure process will be subject to SMFG India Credit's policy at the time of loan application. If you wish to know more about our products and services, please contact us