Solving the Credit Catch-22: "Credited by Gild Insurance" Empowers the Growth Of America's Thirty-Three Million Small Businesses

DETROIT, Feb. 7, 2024 /PRNewswire/ -- For years, a critical roadblock has stunted the growth of countless small businesses across the nation: the Catch-22 of needing an established credit history to prove creditworthiness, while at the same time, lacking access to the lenders and vendors which establish credit history. This small business credit paradox impedes the ability of the thirty-three million small businesses in the U.S. to readily secure their growth through business loans, lines of credit, or trade accounts. Without access to these financial offerings, up to ninety-four percent of small businesses in the U.S. are forced to acquire funding through personal credit risk.

Today, Gild Insurance breaks down this credit barrier for small businesses with the launch of "Credited by Gild Insurance", a first-of-its-kind business insurance solution turning on-time premium payments into a business credit building opportunity. With no additional steps required or hard credit pull, "Credited" seamlessly reports positive insurance payment activity, creating the credit history previously elusive to small businesses.

Available only through Gild Insurance, "Credited" empowers small businesses to capitalize on the insurance premium payments they are already making to help build their business credit score. "In this historic time of the small business boom, Gild Insurance is thrilled to launch this unique solution supporting the growth of U.S. small businesses from formation to loan readiness", stated Mary Duggan Hoeprich, CEO of Gild Insurance. "Through "Credited" there is a clear path to creditworthiness for even the smallest of businesses, reducing the personal risk of those chasing the American Dream. By strengthening their profiles with lending and credit partners, these businesses will finally receive the credit they deserve."

With "Credited" Gild Insurance continues to utilize traditional financial products in non-traditional ways. These novel solutions empower small businesses, enhancing their visibility and engagement within the financial services industry.

For more information about "Credited by Gild Insurance" visit www.yourgild.com/credited or contact Gild Insurance at [email protected].

About Gild Insurance:

Gild Insurance is an independent insurance agency specializing in small business risks. Gild's online quote-to-bind services digitally provides the knowledge, personalization and trustworthiness of a local agent, available 24/7/365. From main street to the home-based business, Gild Insurance has you covered. For more information, reach a Gild Agent at [email protected].

Small Business Credit Survey, Federal Reserve, 2023
Small Business Rely On Personal Credit, Consumer Finance Protection Bureau, 2022
New Business Applications Reach Record 16 Million Under Biden-Harris Administration, Small Business Administration, 2023

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SOURCE Gild Insurance