Help Grow Your Manufacturing Company with Business Credit
Business credit can help fuel your manufacturing company’s growth, and as you grow, you’ll be able to leverage your business credit file in new ways. You depend upon new contracts and favorable lending terms to maintain healthy margins, and strong business credit scores and ratings can help with both. We’ve put together the infographic below to make it easier for manufacturers to understand how business credit can contribute to the growth of their companies.
How Business Credit Can Help Manufacturers
Strong business credit scores and ratings can help manufacturers with:
- Funding: Cover gaps in cash flow and access funds to meet increased demands
- Favorable Terms and Conditions: Enjoy lower interest rates and longer repayment periods, conserving precious capital to help you grow
- Insurance: Protect your company at every stage with strong Dun & Bradstreet scores and ratings, which are often taken into consideration by underwriters
- Contracts: Appear trustworthy and reliable to potential business partners, and alleviate uncertainty about late payments, suits, liens, and risky business practices
- Managing Risk: Protect your business from late payments or bankrupt partners by checking their business credit scores and ratings
Did You Know?
- 69% of small businesses were able to get adequate financing in 2016
- 28% of small business owners expect growth in the next 6 to 12 months, and 20% say their business is already growing
- 60% of small business owners say it was moderately to very difficult to become a federal contractor
How Manufacturers Can Start Building Business Credit
Photo Credit: jtobiason, Twenty20