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How to Build Business Credit to Access More and Better Financing




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Having a business credit profile has many advantages, especially if you have a good score.

Like personal credit, bureaus keep information about business credit history and activity. This information is crucial as lenders and insurance companies use it to pre-qualify businesses for various credit products.

With an excellent score, you can lower your business insurance premiums or even help you attract low-interest business loans. It is also much safer to separate your business and personal finances.

However, before enjoying the benefits of an excellent score, you need to learn how to build business credit.

Business credit and loans

If you are wondering whether your business credit is the reason for not being approved for that loan you needed, there is a high chance that you are right.

Lenders and insurance companies examine business credit reports when issuing loans or qualifying applicants for leases and business lines of credit. If you have a bad business credit score, it shows that you might be less trustworthy and carry a more significant risk of default.

This risk is reflected in higher interest rates and premiums as well as stringent eligibility requirements.

Excellent credit score, on the other hand, attracts better interests and perks when applying for loans and credit products.


How to build a strong credit score

You might not need a loan at the moment, but you may in the future. As such, it is recommendable to start building your credit score and history as soon as you start a business. Here are a few insights to help you:

1. Register and put your business on the map

You need to have a business credit file before you can build your credit. This means you must register your business. It is also recommendable to open a business bank account.

This will put your business on the map and allows bureaus to start monitoring your credit activity.

2. Obtain an EIN (employer identification number)

An employer identification number is crucial as it identifies your business as an entity. It is also a free service by the IRS.

An EIN allows you to operate legally.

Lenders and financial institutions use this number to review the legitimacy of your business and information during a loan application. Make sure you register everything under your legal business name.

3. Incorporate your business

Incorporating your business by adding an INC or LLC is crucial if you want to separate your business and personal finances.

Without incorporating your business, there is no distinction in your credit activity. If you already have a bad personal credit score, all the more reason you need to incorporate your business and build a separate credit history for the venture.

Nonetheless, it is essential to build your personal credit.

4. Create a line of credit with vendors and suppliers

Creating a line of credit that you can use to pay for supplies and services is one way to build business credit. Just make sure you choose vendors and suppliers that report your activity to credit bureaus.

It is also advisable to apply for business credit cards with various banks.

Use these lines of credit to pay your bills and build a perfect history for your business.

5. Pay all your debts on time

Doing all the above can help you build strong credit. However, growing your score boils down to paying all your debts on time. After all, a credit score reflects one’s creditworthiness or ability to pay back the loan within the specified timeframe. If you default on loans and debts, there is no way you will build your credit score.

A strong credit score means a strong business

There are various other little things you can do to build your business credit.

  • It is essential to monitor your business finances and credit activity to ensure your actions are in line with your credit goals.
  • While having business lines of credits is convenient, you should only use credit when there is a need.
  • Spending on unnecessary expenses for a better business score is ill-advised unless you are eyeing a given score to qualify for a loan.
  • You should also check your business credit score regularly and ensure there are no errors.

Make sure to follow all these tips to get a healthy and strong business credit score.

Do you have a business loan, or are you looking to get one? Let us know in the comment on some of the challenges you face.



Cryptocurrency Market Report 2020: Technology, Applications and Implementation for Financial Services




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TCS Positioned as a Leader in Capital Markets Operations by Everest Group

Vlad Poptamas




Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has been recognized as a Leader in the Everest Group PEAK Matrix™ for Capital Markets Operations1.

In an assessment of 24 global service providers offering capital markets operations services, TCS was placed highest for Vision and Capability, as well as Market Impact. Additionally, it was named a Star Performer for having top quartile year-on-year improvement in its scores.

TCS’ strong position in the overall capital markets segment is attributed to consistent growth in its portfolio with multiple new wins. According to the report, the company has continuously worked on creating solutions backed with the latest technology to help its customers solve operational problems more efficiently. It mentions TCS BaNCS™ Cloud for Asset Servicing that automates the servicing of multiple asset classes across custodians, brokerages, asset managers, and investment banks. The report also highlighted a successful POC where TCS powered the world’s first cross-border securities settlement between two central depositories using Quartz™ Blockchain.

With growing competition in the capital markets segment, customer preference for digital channels, and increasingly complex regulations, financial institutions are banking on innovative use of technology to stay ahead,” said K Krithivasan, Business Group Head, Banking, Financial Services and Insurance, TCS“This recognition from an independent third-party research firm is a testament to our vision, capabilities, services offered, and market impact.”

TCS offers a comprehensive portfolio of services in the capital markets domain. Its customers include over 85 buy and sell side firms as well as market infrastructure firms and custodians. TCS’ in-depth domain solutions cover all functions and include:

  • Front Office: Research and analytics, channel management support, para planning for wealth management customers
  • Middle Office: Post trade processes including trade affirmation / confirmation, pricing and valuation, portfolio accounting and reconciliations
  • Back Office: Settlements, reconciliation and fails management accounting including fund accounting, fund administration, and transfer agency

Guided by its Business 4.0TM thought leadership framework and the Machine First™ Delivery Model (MFDM™), TCS has made steady investments and developed frameworks, point solutions and showcases. These include the wealth and retirement platform on TCS BaNCS, a wealth advisory solution, robo advisor and event fusion solution, conversational agents powered TCS’ proprietary tool Conversa™, interactive customer reporting, X code, and distributed ledger technologies for corporate actions, among other blockchain, robotic process automation, platform modernization-based frameworks.

In an environment shaped by changing user preferences and pressure from fintechs, it has become critical for financial institutions to connect their front- and back-office functions seamlessly,” said Manu Agarwal, Practice Director, BFS Business Process Services, Everest Group. “Supported by strong operational expertise and digital offerings, TCS enables its customers to deliver this superior experience.”

Our rich experience in capital market services, regulatory knowledge, innovative offerings backed by the latest digital technologies, and deep contextual knowledge places us in a strong position to deliver exponential value to our capital markets customers,” added Krithivasan. 


SOURCE Tata Consultancy Services

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Huobi Token (HT) Reaches New High Amid Increased Adoption and Ongoing Ecosystem Development

Vlad Poptamas




Huobi Global today announced that Huobi Token (HT) has reached a new 12-month high amid the continued growth and development of the whole ecosystem. As of yesterday, HT was trading at a token price of $5.27 USD, a 92% increase since the close of 2019 – and nearly a 5X increase compared to this time last year.

As the native token of digital asset exchange Huobi Global, HT’s new milestone underscores the recent progress of Huobi’s global ecosystem. Last month, Huobi Global and Huobi DM experienced a strong start to 2020 with a 65% month-over-month spike in aggregate trading volume.

Huobi has also transitioned from quarterly to monthly token burns, which are based on a percentage of Huobi Global and Huobi DM’s revenues for each corresponding period. For Huobi’s first monthly burn, 4.057 million HT were repurchased and destroyed in January, which has a current market value of $21.4 million USD. A total of 45.838 million tokens have been burned to date.

“2020 is a pivotal year for Huobi as we enter new global markets and continue expanding our product line-up for both institutional and retail audiences,” said Ciara Sun, Vice President of Global Business at Huobi Group. “HT is a foundational part of the Huobi ecosystem, so we are deeply committed to its success.”

HT Product Roadmap

As part of a longer-term strategic roadmap for HT, Huobi has a number of upcoming initiatives planned that aims to further increase the token’s utility for the broader blockchain and crypto community.

Huobi DM’s new Perpetual Contract product, which is currently undergoing internal testing and nearing public launch, will be incorporated into the HT Token Burn Program. HT will also play an integral role in the ecosystem of Huobi Chain, a regulator-friendly financial blockchain that’s slated for testnet launch in the near future.

Additional features in development include HT margin trading with up to 2X leverage, which is expected to launch in March, and collateralized HT for peer-to-peer crypto lending and pledged loan contract assets.

HT Ecosystem Adoption

To further expand HT’s utility beyond the Huobi ecosystem, Huobi is accelerating efforts to integrate with third-party partners, including international credit cards, digital bank cards, blue-chip technology companies, and global entrepreneurship centers.

HT was recently accepted as a payment option for charitable donations to Project HOPE, a global nonprofit organization that has been providing health development and emergency relief since 1958. Last month, Huobi partnered with a leading crypto-friendly hotel booking platform to integrate HT as a preferred payment method on


SOURCE Huobi Group

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