The Shiverick Inn

Grand Elegance

Standing guard at the entrance to historic Edgartown, The Shiverick Inn welcomes you to this seaside village of 19th century mansions, built during the town's heyday as a whaling port. White picket fences, daintily manicured gardens and ancient, spreading linden trees are the hallmarks of this peaceful town.

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Business Credit Benefits

The benefits of having a business credit all starts with the discussion of assets. Do you know what an asset is? For the unfamiliar, an asset is anything owned by a business, company, institution or even by just one person, which has been identified to be worth of a certain value and can eventually be used to pay debts or buy more assets.
Why is there a need to discuss assets if we are talking about business credit benefits? It is because business credit is considered an asset in itself. A business credit should be considered something of value. It should be treated as an asset of some kind because business credits can become an economic or financial resource, which will contribute to a business’ financial foundation. Let us also try to be able to compare and contrast a tangible business asset and an intangible business asset. A tangible business asset is more physical. They can be in the form of vehicles, real estate, technological devices, gadgets, office furniture, fixtures, Intangible assets, on the other hand, are more of the immaterial assets that your business has like copyrights, patents, account receivables, trademarks, etc. This is where business credit can be categorized. Business credit should be considered valuable because it will be the basis of the business’ credit capacity and financing ability.
Business Credit Benefits
Many business owners and entrepreneurs relied on their personal assets to fund their business when they first started out. For the most part, procuring money is considered to be a challenge at this time and not only that, business owners not only have one goal, but two: to establish the credit worthiness of the business as well as to increase its revenues. Once your business credit has been established with the different credit bureaus, your business’ financial capacity will be significantly improved. Your business will be able to get financing all by itself instead of purely relying on you, the business owner for its credit worthiness.
The benefits of a business having a business credit include the following: the value of your business will increase, your personal credit will become protected & your business will acquire a bigger credit capacity. With regard to the value increase in a business, once a strong business credit has been built, it will attract more partners and investors. With regard to personal credit, of course since you already have business credit, you would not have to use your personal credit anymore if ever you plan to expand your business. Once you have separated your business from your personal credit profile, if it was affected before, your personal credit rating will once again improve. With regard to capacity, a business can be granted up to a hundred times more credit if the company has established business credit compared to a business whose loan was only approved based on personal credit.
Having a business credit can truly give an entrepreneur benefits that a personal credit cannot. He or she will be able to enjoy financial advantages.