Tax season and talk of finances have some small business owners taking a look at their credit worthiness, which has the potential to limit or expand your financing options for big purchases and projects. 

"Your business credit scores and ratings can impact a variety of business relationships, such as potential partners and vendors, but it's an especially important consideration if you're looking to borrow money or open a line of credit or credit card," notes a post by the U.S. Chamber of Commerce.

"Good scores and ratings might allow your business to get better terms on these financial products, while the opposite might mean higher interest rates and less flexible terms," adds the blog on CO, the Chamber's site for small business owners.

Here are four tips on how to enhance your business creditworthiness.

1. Get a Credit Card

How long you've been in business can factor into your credit worthiness and that can limit options for some entrepreneurs and young companies.

The U.S. Small Business Administration says loan eligibility for new ventures is often based on the business owner's personal credit score.

So, if you haven't already, start establishing and building a financial history for your business -- demonstrate your company's ability to make payments in full and on time. 

"Finding ways to establish business credit and avoiding the use of your personal credit is a good practice,” advises SCORE in a blog on its website.

A great place to start is a business credit card. Use it for company expenses instead of your personal credit card.    

 “A business credit card can be one of the best tools for building business credit, provided you pay it off in full each month or keep the balance low (less than 30% of your available credit) and make regular, on-time payments,” explains a NerdWallet article by senior writer Kelsey Sheehy.

"Opening a business credit card early can help you start building credit sooner, which means you'll have a longer credit history — and potentially a stronger score — in the future."

2. Set Up Credit With Vendors

Your creditworthiness is often measured by other companies' views on how likely your business will fulfill your financial obligations with them.

To build that reputation, you can set up accounts-payable relationships with suppliers and vendors, known as trade credit or net terms. In other words, a short-term financial agreement that allows your business to pay for goods or services several days or weeks after you receive the inventory.  

"Trade credit can be a good option for managing cash flow and building business credit," says a story by NerdWallet lead writer Randa Kriss.

"You can ask to set up trade lines with any small vendor, such as your water or office supplies distributor. Try to set up several."

3. Keep Mindful of the 4Cs

While financial institutions and non-bank lenders have their own methods of analyzing your business creditworthiness, most use a formula known as the Five Cs— capacity, character, capital, collateral, and conditions.

Generally, no single "C" is taken in isolation, according to an article by the Corporate Finance Institute (CFI), an online finance education site. "A lender evaluating a credit request must understand all 5 Cs together to get a complete picture of the borrowing request."

However, the strength of one C can offset the weakness of another, according to the post on CFI's website.

"For example, a lender may be willing to extend credit with very little collateral if the borrower's cash flows are strong and consistent, their access to other sources of alternative capital is clear, and their historical use of leverage has been reasonable and measured. 

4. Make Early Payments on Loans

Small business loans can boost your credit standing if you make all your payments on time and the lender is among those who report to business credit bureaus.

For example, online business loan companies generally do but merchant cash advance companies typically do not, according to a NerdWallet article.

"Payment history is the most important factor in determining your business credit score. Making debt repayments on time and in full will help you build a stronger business credit profile over time.”

Early payment is even better, says Dun & Bradstreet, which assigns better Paydex scores, the bureau's primary scoring model that evaluates a business's payment history, to companies that pay early.

For more about business credit, check out this diverse list of Credit Options for Small Businesses and Tips for Choosing a Business Credit Card.