Does a business need credit to lease a copier?
A business needs credit, even though a lot of businesses undermine it, is a very important and vital factor that can help a business grow. The good thing about this business credit is that, regardless of the business size, you can still have one. Even as important as a business credit can be to business owners, there are still business owners who do not know a thing about it. According to a report from Nav (which is a business credit score company), ignorance of what a business credit is and how to understand it has deprived so many small businesses of certain privileges. Here are some facts they shared:45% of small business owners who are denied financing get turned down more than once and 23% don’t know why their applications were denied. Small business owners who understand their business credit scores are 41% more likely to be approved when they apply for a business loan. Those who understand their business credit profile are also 31% more likely to consider expanding their business. Yet, 45% of small business owners don’t know they have a business credit score, and 82% don’t know how to interpret their score.
Now the question of whether a business needs a credit to lease a copier can be answered. Having a credit as a business makes a business not only to look genuine but also shows professionalism on the part of the business. It also shows that the business is not a hit and run program; there are plans to grow it. As such, a business needs a credit in other to lease a copier. Although, getting a business credit approval for small businesses that are less than two years can be an issue, but when gotten can help grow the business faster. But in some cases, business owners tend to use their personal credit when leasing a copier.
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