Many people think that business credit and personal credit are practically the same, but this is not the case. Sometimes it takes a business-savvy individual like Adil Baguirov to explain the difference in a way that the average person can understand.

Adil Baguirov is a business owner, so he is well aware of the importance of business credit, and he wants to pass along his knowledge to you. In this blog, AdilBaguirov will break down what business credit is, the factors that affect it, and why it’s important for businesses to build.

What is Business Credit?

Business credit is often time referred to as commercial credit and it is a number that indicates whether or not a company is a good candidate to do business with or lend money to. Much like personal credit, a company’s credit accounts and payment histories with lenders will determine its business credit score, as well as legal filings such as judgments, tax liens, or bankruptcy. How long a business has been in operation and the size of the company also factor into a business credit score that is on a scale of 0 to 100 (unlike personal credit which is a scale of 300 to 850). The closer a business’ credit score is to 100, the lower the lending risk.

How is Business Credit Calculated?

There are three credit reporting firms that calculate business credit: Experian, Equifax, and Dun & Bradstreet. When calculating a company’s credit score, these reporting firms take the following factors into consideration:

·       Credit accounts open

·       Repayment history

·       Legal filings (tax liens, bankruptcy, judgements, etc.)

·       Details of the company’s background collected from public records (size, years of operation, etc.)

·       Repayment performance relative to that of similar companies

This combination of credit, demographic details, and public records are what determine a business’ credit score.

Why is Business Credit Important to Build?

Most business owners understand the importance of having solid finances, but it is equally important for them to be aware of their company’s credit score. That’s because strong business credit actually improves a business’ financial potential. This not only improves a business’ finances and credit capacity, it also increases the value of a company overall. A business’ credit score is fully transferable at the time of a sale, so a company with a strong score will be worth much more to buyers if you ever decide to sell. Furthermore, strong business credit can allow business owners to get approved for small loans easier than they would be able to with their personal credit. If you’re a business owner hoping to increase your company’s credit score, be sure to make your payments on time, every time.

For more information about business credit of business in general, Stay tuned to this blog.

Over the course of his election campaign for a position on the Dayton Public Schools Board of Education, Adil Baguirov made three very important promises to the parents of public school students and to the people of Dayton in general. First, he promised that the school district would incorporate greater financial transparency, which would lead to greater accountability. Second, he promised the board would incorporate better and more useful technology to the school system, in the form of better computers and software for students, as well as the best possible academic support, such as a mobile app to provide parents of Dayton students with more information and control over the overall school experience.

The third promise Adil Baguirov made during his campaign was to do his best to ensure that more money made it into district classrooms, and not into the pockets of administrators and others. No wonder the people of Dayton chose Adil Baguirov to work with the rest of the school board to bring their system out of the darkness it had been in for years.

Dayton area businessman Adil Baguirov was elected by the area’s people to the Dayton Board of Education in 2013. From those first years, Baguirov stayed committed to his campaign promises of providing higher quality technology throughout Dayton Public Schools, tracking results better within the district, and increasing financial transparency and accountability. His leadership and dedication to the students, teachers and parents was evident. This led to him being elected as president of the Board of Education in 2016. The community vocalized their appreciation to Baguirov for his guidance, successes and commitment through this elected move, which Adil Baguirov remained in until his tenure with the board ended in 2017.

In his four active years with the Dayton Public Schools Board of Education, Adil Baguirov has shown himself to be up to the task of serving his community on an urban school board in the Second-poorest school district in Ohio. More than fitting in, however, Adil Baguirov has made a difference. For example, Adil guided the school district to replace their fleet of aging school buses with 115 brand-new buses that are among the best available. Best of all, they carry a full 10-year bumper-to-bumper warranty, which means the district should save on maintenance and repairs. It is a testament to Adil Baguirov’s great business sense that he was able to finance them with existing money at a very favorable 2.06 percent interest rate. The new buses are not simply safer and more comfortable for the children, but they are also supported by students and parents.

Before Adil Baguirov arrived on the scene, the Dayton Public School District was extremely close to being taken over by the state because of poor academic performance. These days, Adil and the rest of the board have been able to significantly modernize the system, which has put the district in the best shape they have seen in several decades, having received an “A” on their last state report. There is no longer the looming threat of a state takeover.

If nothing else, what motivates Adil Baguirov has to be the passion he has about his community of Dayton, Ohio. That is why he ran for the Board of Education in the first place; he wanted to give back to his community in the best way possible, and an educated community is a healthy community.

Adil Baguirov had a lot of educational experience in his background, long before he ran for his current position on the Dayton, Ohio Public Schools Board of Education. For example, he authored some academic books and articles and he also is highly valued for his talents as a public speaker and lecturer, as well as a moderator for a number of academic conferences. He also has audited many university-level classes and he has played a key role as a researcher in several think tanks.

All of that, along with a strong belief that giving back to his community of Dayton is why he felt confident running for a position on the Board of Education. It’s also obvious that the people in the district agreed, since they elected him. They have not been disappointed, since Adil Baguirov has largely met and exceeded the promises he made to the people who voted him in. In his first four years, he has seen to it that the technology in the schools improved. He has also brought more money to the district and also helped to bring more financial accountability to the school district.

One of Adil Baguirov’s best accomplishments thus far has been his leadership in securing the most responsible financing possible for the replacement of the bulk of Dayton’s fleet of aging school buses. They were able to acquire a 115 brand-new state-of-the-art school buses. Not only will these new buses be safer and more comfortable for students, but their 10-year bumper-to-bumper warranty will reduce maintenance costs significantly. Best of all, he was able to get financing at a paltry 2.06% rate.