Most new businesses start with working capital, but no credit. Establishing credit is extremely important to your business. Banks and lenders take credit history into account when deciding whether to issue a loan along with the interest rate and credit terms. Suppliers negotiate payment conditions based upon a business’ credit. Good business credit could mean the difference between C.O.D. versus 30/60/90 day payment terms. Potential business partners also assess the risk of doing business with your company based upon credit. There are some basic steps a new company can take to establish their credit.