Tag: credit score

Signing up for a business credit card can be very fiscally beneficial to your growing company. Before submitting that application, however, you  should become familiar with five of the most frequently asked questions about business credit cards. 1. Can a startup business qualify for a business credit card? Yes, startup companies are eligible for credit cards as soon as they are officially established. In order to qualify, credit card lenders will use the owner’s personal credit score and income. 2. […]

Small business in the U.S. are responsible for the creation of two-thirds of the new jobs added to the economy each year. And yet, for these small businesses to continue hiring and growing, finding the business funding can be a challenge. Many big banks and lenders have no interest in making business loans under $250,000 – the cost of underwriting small loans is barely worth the profits on them. In these situations, microloans can be the best solution. A microloan, according to the Small Business […]

Trying to navigate the small business loan process can be confusing and exhausting. If your company is looking to find some business funding through a bank or other traditional lender, it helps to be aware of the kinds of paperwork that will be required of you. Here are the six most important pieces of data you should prepare before applying for a small business loan: 1. Personal Credit Score Even though you might not expect a bank to pull your personal credit score when you are applying for […]

The biggest challenge most small businesses face is access to capital. Small businesses need lots of cash to get off the ground, to grow and to expand. It is hard enough for most business owners to get a loan from their local bank, but for some it is almost impossible. These are the “credit invisibles,” according to a recent survey from the Consumer Financial Protection Bureau. The report found that there “that there are 26 million adults in the United States without a credit record. This […]

Starting up a small business requires a lot of capital. In order to meet those capital demands, entrepreneurs will often use their own funds plus borrowed money in the form of credit cards or home equity lines of credit. While these types of financing may be necessary to get the business off the ground, small business owners should establish a business credit profile as quickly as possible to save their personal credit scores from damage. Beyond just the risk of credit injury if the business fails, […]

If you’re still using a personal credit card for your firm, here are some reasons signing up for a business credit account might make a big difference.

Preparation is key to successfully obtaining a loan from a lender. Here are four ways to make sure you are prepared before you apply…

Even those who have been rejected for loans from big banks in the past several years may now have a good chance of scoring a loan. Just be sure to do some essential preparation in order to lock in that financing

Here are six ways of getting your business credit rating up, so you get access to all of the funding sources you need to be successful

When it comes to business loans, the borrower’s credit score is often the first thing lenders look at to determine whether to make the loan.