Fundera
OCTOBER 16, 2015
Personal credit scores. Both Kabbage and OnDeck focus on your personal credit score, as opposed to your business credit score, which can be helpful if your business credit score is less than perfect or if you haven’t built up much of a history yet. Minimal time in business. OnDeck Capital.
Fundera
OCTOBER 9, 2015
For most lenders, you’ll mostly just need to complete an application, have them check your credit score, and show them a few months of business bank statements. All of this is pretty straightforward, but let’s talk real quick about credit scores: Business Credit Scores. Personal Credit Scores.
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Due
JANUARY 3, 2023
Often referred to as credit reporting agencies, these companies work independently. Credit Reports vs. Credit Scores. Your credit scores are also influenced by your credit reports. The reason for this is that credit scores are calculated using information from your credit report.
Fundera
JUNE 25, 2018
Here’s what Grunert says: I moved from Long Island, New York City to Prospect, Virginia in 2007 because of the high cost of living in NYC. When I moved in 2007, I was able to obtain freelance clients worldwide. Rural Businesses Have a Stronger Credit Profile.
Fundera
JANUARY 7, 2016
According to the Wall Street Journal , the value of all outstanding small commercial loans (under $1 million) at federally-insured banks declined by 15% between 2007 and 2013. And in the end, big banks hand out loans to a mere 18% of applicants—while on the other hand, non-bank lenders approve of 49% of applicants.
Lendio
FEBRUARY 8, 2023
In fact, the Federal Financial Institutions Examination Council found small business loans peaked at 14 million in 2007, just before the Great Recession. A Lowering of Your Credit Score: Borrowers often see a shift in their credit score during a recession—usually downward as cash flow issues make it harder to pay off their debts.
Fundera
JUNE 22, 2016
If you default on your “loan” with a pawnbroker, your credit score won’t report it—but technically, this is a form of alternative lending. Alternative lenders, on the other hand, accept entrepreneurs with shorter times in business, lower credit scores, less proven revenues and cash flow…. More Frequent Repayments.
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