business-credit

Vocabulary Word

Definition

In a small step up, business credit is just like your personal credit score but for your business. It shows your company's financial reliability when matters such as loans or contracts arise.

Examples in Different Contexts

In finance, 'business credit' refers to the ability of a business to borrow money and access financing. A financial advisor might advise, 'Building a strong business credit score is vital for securing loans and negotiating better terms with suppliers.'

Practice Scenarios

Business

Scenario:

The recent financial reports show our company has done a commendable job in maintaining its financial health.

Response:

Indeed, our business credit has been instrumental in securing the recent loan.

Public-Policy

Scenario:

We need to review the company's financial records before drafting the new policy guidelines.

Response:

Let's look at the business credit, it will give us a sense of the company's financial responsibility.