Tag: bankruptcy

The major credit reporting agencies are being forced this summer to change some of their data collection policies, a move likely to buoy personal credit scores and give small business owners access to more business funding. Because of a 2015 settlement with the New York Attorney General, the three major credit bureaus – Experian, Equifax and TransUnion – are altering some of their policies that will affect the credit scores of millions of Americans. Before the settlement, the big three agencies […]

When the commercial lending market climate is dry, buyers and sellers of commercial real estate start looking for creative financing solutions. One possible alternative is called a “wraparound” mortgage. While not without its risks, a wraparound mortgage can create mutually beneficial sales when no mortgage credit is available. A wraparound mortgage is when a seller provides financing to the buyer directly. The seller holds onto the original mortgage. The buyer makes a down payment to the […]

Running a small business after bankruptcy can be difficult, especially because it can stay on your credit history for as long as seven to ten years. Just because you had a bankruptcy doesn’t mean getting a bank loan is out of the question though. With a few extra preparations, you can overcome that financial blemish and keep your business flowing with funds. Address the Elephant in the Room It can be embarrassing to air out your fiscal dirty laundry with strangers, but being up front about […]