Business Credit
/ˈbɪznəs ˈkrɛdɪt/
Definitions
- (n.) The ability of a business entity to obtain financing or credit from lenders or suppliers based on creditworthiness rather than cash payment.
The company improved its business credit by timely repayment of loans.
- (n.) A record of a business's credit history used by creditors to evaluate financial risk.
Lenders reviewed the business credit report before approving the loan.
Forms
- business credit
Related terms
See also
Commentary
Business credit is distinct from personal credit and often requires separate assessment; contracts and agreements should specify whether business or personal credit is affected.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.