Are you new in the world of business?  Are you familiar with how your business credit affects your business?  This article will discuss the most common myths about business credit and truth behind them.  Let this be your guide in determining what really counts and what does not about your business credit. Myth #1: Small business entrepreneurs or homebased business owners don’t have to be concerned about the status of their business credit.Small businesses may deal with small business lenders but these lenders look into your business credit profile just the same.  All types of lenders- whether large corporations, prominent banks, small business lenders, even individual lenders- all determine the credit worthiness of a business through its credit profile.  Each time you apply for a business loan, your prospective lenders will take a look into your business credit history regardless of the size of their company.In fact, most financing firms today process loan applications with the help of an automated system.  With this system, the decision whether an application is approved or declined is based upon the credit score of the business.  If your business credit score fails the cut-off, your application will immediately be rejected.  Therefore, all business owners must pay attention to how they maintain their business credit history whether they’re managing a large corporation or just a small business.Myth #2: There’s really no need to check my business credit profile often.All business transactions you make between the suppliers, lenders, investors and insurers you deal with are reflected in your business credit report.  Business credit reporting agencies update their files daily and you’ll want to make sure that your own report is accurate.  Just as you need to regularly check on your personal credit report to ensure that all information it contains are correct, the same thing applies to your business credit report as well.  Myth #3: Newly start up businesses doesn’t have to be as concerned about their business credit as long time businesses do.As we’ve said, the size of your business doesn’t matter when it comes to building an excellent business credit.  In the same way, even if you’ve just started up with your business, it is a good practice for you to closely monitor your business credit profile.  In fact, you should be very interested about monitoring your credit report while you’re in the early stages of establishing your business’s credit.Myth #4: Your cash fl