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Writer's pictureBrianna Thompson

A Game Plan to Excellent Credit: Empowering Future Generations

Imagine a world where financial education is taught at school so that students are equipped with the knowledge and tools to build a strong foundation of credit. Instead of dissecting frogs, they learn about credit reports, leveraging credit, and understanding the importance of a good credit score.

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Learning about credit is essential to making informed financial decisions, accessing better opportunities, and building a solid foundation for future economic well-being.


Before we start, let's consider some eye-opening facts about business survival rates and entrepreneurs' challenges, particularly those from marginalized communities.

According to research, about two-thirds of businesses survive only two years, and an alarming eight out of every ten Black-owned establishments fail within the first 18 months. The primary reason behind these failures is the depletion of cash flow.

By utilizing business credit effectively, individuals can preserve their cash flow and achieve their financial goals. Let's outline a game plan to excellent credit, which will pave the way for future success:


Educate Yourself

Begin by familiarizing yourself with the fundamentals of credit. Understand the importance of credit scores and reports and how they impact your financial well-being. Contact Keep it Local x Tacoma for free business consultation, or start with online resources such as Youtube videos. Be advised only accept credit advice from accredited credit repair professionals.


Assess Your Current Situation

Please obtain a copy of your credit report for free with Credit Karma and review it. Identify any errors, inaccuracies, or negative items affecting your credit score. Dispute any discrepancies and rectify erroneous information to improve your credit profile.


Establish a Positive Credit History

Building a solid credit history is vital for achieving an excellent credit score. Start by opening a credit card or obtaining a small loan, and make consistent, timely payments. Responsible credit management demonstrates your financial reliability and boosts your creditworthiness. We recommend checking out these loan options if your business is in Tacoma. Contact us if you need help applying or preparing financials!


Manage Credit Utilization

Credit utilization refers to the amount of credit you use compared to your available credit limit. Aim to keep your credit utilization ratio below 30%. High credit utilization can negatively impact your credit score, so make timely payments and consider increasing your credit limit if necessary.


Be Patient and Persistent

Building excellent credit takes time and perseverance. Stay committed to your financial goals, maintain responsible credit habits, and monitor your credit regularly. Over time, your efforts will pay off, and you will reap the benefits of an outstanding credit score.


Find a Credit Repair Workshop

Imagine a world where individuals understand the significance of credit and utilize it wisely to preserve cash flow, regardless of their background or community. Let us advocate for comprehensive financial education that fosters credit literacy, propels economic growth, and paves the way for your brighter business future.

Ready to learn about your business credit options? Sign up for our FREE Game Plan to Excellent Credit workshop!


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Want to understand better how to manage, generate, or strategize your business financials? Contact us today for a free small business consultation.


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