How can Business Credit Cards Help My Business?

A breakdown of 4 reasons why business owners benefit from obtaining business credit cards.

Business credit offers quick funding, provides the opportunity to buy more, and encourages lenders to favor you.. all while helping you keep track of your business transactions more efficiently.

Receive funding for resources in 30 days

Big businesses typically possess funding for unexpected needs; however, many small to midsize businesses do not. Revolving lines of credit grant small to midsize flexibility in case of an emergency or unexpected expenses. Start-ups as well as seasoned businesses are often approved within 24 hours and funded within 30 days.

Increase Purchasing Power

When businesses have cash flow concerns, numerous issues arise as a result. Often, these businesses don’t have enough capital to purchase required resources and projects may be amended or delayed. This is where business credit helps. It can be used to cover the costs associated with business needs, whether it projects, payroll, or any other necessity. In addition, business credit comes with a unique level of flexibility. Online purchases and cash withdrawals, for example, can be made from business cards without lender-approval.

Build Business Credit

Business credit card usage builds credit. On-time payments incentivize lenders to increase credit limits and lower interest rates. A strong business credit profile alleviates the need to rely on your personal credit to support business endeavors. It, instead, helps business owners to qualify for future financing with traditional business lenders.

Simplify Bookkeeping Procedures

Bookkeeping is simplified with the use of monthly and year-end business credit card statements. Basic accounting transactions are automatically recorded allowing business owners to use more of their time to work 'on the business' rather than 'in the business'.