Thanks for posting to the Telerik Developer Forums.
Indeed this would be a nice addition to the Business Logic layer. We have some ideas in our backlog about adding capabilities for easy code reuse and management in the cloud code/cloud functions. Currently we cannot commit to a particular time-frame for the actual implementation though.
At the current stage the easiest way to accomplish this is to have the credentials and settings in just one function and call this function with parameters from the other places in the cloud code layer.
Let me know should you have further questions or considerations.