Advantages of maintaining a good Credit Score

The credit score summarizes in a single score many factors of our credit profile, which directly affect our level of credit attractiveness and risk, for the market that grants it. Therefore, staying financially healthy and demonstrating good payment habits will be the gateway to financial market opportunities. That is why we are going to mention some advantages of maintaining a good Credit Score:

It opens new doors in the financial market and in all entities that grant credit.
A high Credit Score allows you to save money.
Access to a better offer of financial products.
Among other benefits.

Financial health to strengthen your business

The reality of today, given the situation of the pandemic, is that the market has once again gained momentum to start having a relationship, especially in this second half of 2021. For this, it is important that Colombian businessmen are prepared and take advantage of the opportunities that may arise in the growth of their businesses and companies.

In that sense, what better way to do it than to access financing programs or credits, in order to catapult these opportunities that are coming or that are expected for the economic growth of the following months in Colombia and the world?

If you are looking for loans as an entrepreneur and would like to understand what is best for you, but when you knock on the door of an entity they mention that you must make an initial deposit as part of the process to access the loan. This should raise alarms, because it is most likely a fraud.

Making good use of credit opens the doors of your company to financing, with better conditions and allows you to improve your financial situation and that of your company in the future.

Focus on the destination of the loan

We know that there are a myriad of businesses “out there”. We are talking about individuals with their own business, freelancers, micro-enterprises and SMEs who are looking to advance and get business, as well as increase the sales volume of their companies. Therefore, it is important to be clear about why and what this loan is needed for: either to acquire material, machinery, renovations, etc.

How to adjust the loan characteristic you are looking for?

Businesses such as small restaurants, entertainment, food, etc., need to find financial products that adapt to their production cycles, within the framework of their economic activity. For this, it is key to make good use of resources and generate a good payment culture with financial institutions, so that the company or business can access better financial products in the future. Remember that institutions in general, when they observe that clients have a good credit history, offer better conditions.

How to continue managing recurring financing to strengthen my business?

For this point it is important that the products offered by your company or business have lines of credit. Where entrepreneurs or independent workers can access resources when they need them. It is not that every time the company needs financing. It is necessary to go and knock on the door of the entity. So that they generate new resources for your business.

Having access to these financial products on a recurring basis is what can lead us to strengthen the business and “catapult” it in the long term. Therefore, making frequent and recurring use of financing will be the key tool to take your business to the next level.

Know the credit score of your clients

Implementing a new line of credit in your companies or business generates some fear. For the simple fact that you will not know if your clients, partners or suppliers will pay you duly. For this, DataCrédito Empresas has developed a prepaid digital report. Designed to boost the growth of Colombian companies and sell more calmly on credit.

With MiDecisor in just 3 minutes you will be able to know your information or that of your clients: