The Stock Market’s Tangled Web: How It Can Affect Your Credit Score
Credit Absolute
JUNE 12, 2024
Yet, for the average American, the rise and fall of stock prices can significantly impact their personal credit score.
Applying for a small business loan? Your guide to qualifications: Credit scores, down payments, and more
Credibly
JULY 31, 2024
Going beyond the basic eligibility qualifications for a small business loan Evaluating your small business credit score for a small business loan Collateral and guarantees required for small business loans Why do some lenders require down payments for small business loans?
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What’s The Credit Score Needed For Small Business Loans?
CreditStrong for Business
JULY 11, 2024
It’d be helpful if you get it, but you’re probably wondering what credit score you need to get a small business loan. In this article, we’ll cover the different types of business loans and the credit expectations for each. It’s important to make sure your credit score is in the best place to get the loan you want.
Why Is My Credit Score Low After Getting a Credit Card?
CreditStrong for Business
AUGUST 20, 2024
You’ve worked hard at building your credit and you now have a good credit score that can be used for applying and getting approved for the credit card you’ve always wanted. But a few weeks after you activate and begin using the new card, you may notice that your credit score takes a dip.
Payment History and How It Affects Your Credit Score
CreditStrong for Business
JULY 5, 2022
Payment history is the most important factor in calculating your FICO® credit score. Your payment history accounts for over a third of your overall FICO credit score, comprising 35% of the impact of all FICO credit score factors. Read more about the factors that impact your credit score.
What Is a Business Credit Score: Everything You Need to Know
Eagle Business Credit
AUGUST 23, 2023
For small business owners seeking funding options, new entrepreneurs embarking on their journey, and even those grappling with poor business credit, understanding the significance of a business credit score is a fundamental step towards securing financial stability and growth. What Is a Business Credit Score ?
How To Get A Loan To Start A Business From The Government
CreditStrong for Business
NOVEMBER 1, 2024
In this article, we’ll make it easier on you by uncovering what to expect from government small business loans and how to prepare for them. If you don’t know what your business credit scores are, don’t wait for a denied application to check it out. You can use sites like Nav.com to check your scores for free.
The Different Credit Score Ranges for the Ten(ish) Most Popular Credit Scores
Fundera
APRIL 12, 2016
Your credit score is a three-digit number that gives potential lenders an idea of how likely it is that you’ll be able to pay off debt. The higher, the better: most credit score ranges begin at 300 and increase until 850. If you have a score of 850, you get a million gold stars and the best possible loan options.
Is There an SBA Loan Credit Score Minimum?
Fundera
JANUARY 22, 2018
But is there an SBA loan credit score minimum? . Even though the program is meant to help more small businesses get financing, it does have strict requirements for qualifying—including a good credit score. Small Business Administration draw the line on SBA loan credit score minimum? But where does the U.S.
Decoding factors influencing mortgage rates
Due
OCTOBER 9, 2024
This article aims to provide an in-depth understanding of the relationship between mortgage rates, the 10-year treasury rate, individual credit scores, and the MOVE Index. A credit score is a numerical expression based on a level analysis of a person’s credit files, representing the creditworthiness of an individual.
How Much Will A Tradeline Boost My Credit?
CreditStrong for Business
SEPTEMBER 27, 2024
Tradelines are any credit accounts that show on your credit report. These include personal loans, auto loans, credit cards, mortgages, and more. Adding tradelines to your credit history could create a credit score increase of 20 to 100 points. What Happens When You Add Tradelines To Your Credit?
Do Your Customers Deserve Credit?
Your Virtual Credit Manager
DECEMBER 27, 2022
Because creditworthiness is complex, credit grantors consider a variety of factors when making credit decisions, including: Financial history: A business's credit and financial history, including their payment record and credit score, is an important factor in determining creditworthiness.
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Make Revolving Utilization Your Key To Better Credit
CreditStrong for Business
NOVEMBER 7, 2024
Revolving utilization is a big part of your credit score: 30% to be exact. There are certain accounts on your credit report that contribute to it while others don’t. There are also ways you can reduce your utilization rate and improve your credit score. It’s also the second largest factor in your credit.
How Long Does It Take to Rebuild Credit After Debt Settlement?
CreditStrong for Business
OCTOBER 30, 2024
Because a debt settlement results in not paying the balance in full, it will negatively impact your credit. Additionally, late payments often accumulate during the negotiation process, which may worsen your credit score. The duration needed for rebuilding credit after the settled debt payment process may vary.
Due Diligence Doesn't End with the Credit Application
Your Virtual Credit Manager
JANUARY 23, 2024
Credit Scores: while credit scores are useful for establishing credit, they provide even more intelligence when viewed over time. Credit scores typically provide either a probability or default or of slow payment. There is a sequel to the case study referenced at the beginning of this article.
Are Tradelines Legal? The Better Way to Boost Your Credit
CreditStrong for Business
OCTOBER 1, 2024
Building credit the right way isn’t always easy. For most people with bad credit, buying authorized user tradelines seems like an easy fix for your credit goals. But don’t let the temporary credit score increase fool you. Buying tradelines could backfire and leave you in a worse credit situation than you’re in now.
Understanding the dynamics of mortgage rates
Due
SEPTEMBER 20, 2024
This article aims to unravel this seemingly paradoxical phenomenon and provide a comprehensive understanding of the factors that influence mortgage rates. The spread is influenced by the borrower’s credit score. Simply put, a lower credit score signifies a higher risk for the lender, resulting in a higher spread.
Boosting Your Odds of Loan Approval
Due
JANUARY 8, 2024
In this article, I will discuss the most effective tips to boost a typical personal loan applicant’s shot at approval. These tips include working on your debt-to-income (DTI) ratio, increasing income, finding ways to prequalify before formally applying, and improving your credit score. surge from the same period a year ago.
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Financial Literacy: 10 Ways to Improve It
Due
FEBRUARY 6, 2023
Having an emergency savings account is one of the most crucial ways to prevent credit card debt from building up. As a result, this prevents harming your credit score or even bankruptcy. This Due article explains the different types of budgets and ho to choose the right type. Understand credit scores.
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How To Rebuild Credit—Strategies Worth Exploring
CreditStrong for Business
SEPTEMBER 17, 2024
If you want to know how to rebuild credit, you can start by making timely payments on all available credit accounts and using other strategies explored in this article. 7 Strategies To Rebuild Credit The first step to rebuilding credit involves obtaining a recent copy of your credit report.
Should You Open a Business Credit Card—Yes or No?
Lendio
AUGUST 20, 2024
Business credit cards can be an excellent tool to finance your small business. But should you open a new business credit card? In this article, we’ll cover when you should (and shouldn’t) apply for a business credit card, the benefits of doing so, and how you can prepare to apply. Why get a business credit card?
9 Tips to Maximize Your Credit Card Limit
The Red Spectrum
JUNE 12, 2023
They will look at your credit score, payment history, utilization ratio, balance transfers, cash advances, and other transactions. Credit History Banks will assess your credit history to see how long you have been using credit and how reliable you are as a borrower. You Learn, We Report, and You Grow.
The Best Options For Startup Business Loans With No Revenue
CreditStrong for Business
AUGUST 9, 2024
Even when you do find a lender that’s willing to work with a start-up, you’re going to need good credit and it might be expensive to borrow the funds you need. In this article, we’ll cover the ways you can find a startup business loan as well as a few other startup financing options. We’ll talk more about those further in this article.
Here's How to Get a Business Loan if You Have Bad Credit in 2023
tillful
MAY 12, 2023
A poor business credit score or thin credit history can get in the way when applying for small business loans. This is especially true in higher interest rate environments, when lenders pull back on credit (like now). In this article, we’ll talk about how you can qualify for business loans, and which options to look into.
What Is a D-U-N-S Number?
CreditStrong for Business
SEPTEMBER 17, 2024
The DUNS number can help potential business partners and lenders identify and access a company’s credit file, which may include information about the company, such as its name, address, contact information, branches, subsidiaries, credit history, and more.
Can You Get a Business Loan with no Credit Check?
Lendio
APRIL 23, 2024
As a small business owner with poor credit, it can be even more difficult to find the financing you need. In this article, we’ll explore the possibilities of getting a startup business loan with no credit check or poor credit, as well as alternative forms of financing to consider. Getting a business loan with no credit.
Decoding the recent mortgage rates surge
Due
OCTOBER 7, 2024
This article aims to demystify the recent surge in mortgage rates and provide an in-depth understanding of the factors influencing these rates. Instead, they are determined by the 10-year treasury rate plus a spread, which is influenced by the borrower’s credit score. Who sets the mortgage rates?
Revolving Line Of Credit: Calculate The Interest And Payment
Lendio
NOVEMBER 14, 2023
However, before committing to a revolving line of credit, it’s important to do the math and understand the terms of the loan. In this article, we’ll explore how to calculate the interest and payment on a revolving line of credit and provide tips for applying for this type of financing.
The Real Deal On Authorized User Tradelines
CreditStrong for Business
JULY 1, 2024
For many people, buying an authorized user tradelines seems like an effortless way to improve your credit. In this article, we’ll talk about renting tradelines, and why you should avoid doing so. We’ll also cover some helpful alternatives for building your credit. It could be a mortgage, credit card, or loan.
13 Tips for Instantly Approved for Business Credit Card
The Red Spectrum
MAY 26, 2023
As an entrepreneur, having a business credit card can provide you with numerous benefits, from managing cash flow to earning rewards and building your business credit profile. However, getting approved for a business credit card may be challenging. Business credit cards play a vital role in today’s business landscape.
How to Get a Business Loan
CreditStrong for Business
JULY 29, 2024
Your Credit Scores Your creditworthiness is a significant component in the application process. Lenders may look at your personal credit scores, business credit scores, or both. If your business is relatively new, lenders will likely lean more heavily on your personal credit scores.
How to Build Business Credit in 30 Days
Lendio
JUNE 6, 2023
Bank, as quoted in this Business Insider article, 82% of businesses fail mainly because of poor cash management. Lenders and banks generally consider your business credit before offering help—and for good reason. This article will dive into everything about building business credit in 30 days.
How to Deal with Collections and Negotiate Settlements for Credit Restoration
Credit Absolute
JULY 21, 2023
Having a good credit score is essential for financial stability and access to favorable loan terms. However, when debts go unpaid, they can end up in collections, damaging your credit profile. The good news is that you can take steps to deal with collections and negotiate settlements, paving the way for credit restoration.
A Comprehensive Guide to Managing Business Credit
biz2credit
JANUARY 23, 2024
In this article: How to Build Business Credit Can You Use a Business Credit Card for Personal Expenses?
How to Get a Business Credit Card
CreditStrong for Business
AUGUST 23, 2024
Small business owners looking for a way to finance and organize purchases will want to know how to get a business credit card. In addition to having the application information ready in advance, you’ll want to know how both personal credit and business credit scores are considered for approval.
Does a Sole Proprietor Need a Business Bank Account?
CreditStrong for Business
SEPTEMBER 27, 2024
Banks don’t review your personal or business credit reports, so you can open them with a limited credit history or even a bad credit score. You’ll need at least several months to build a good business credit score , so a head start is highly beneficial.
How to Get a $100K Business Loan
CreditStrong for Business
SEPTEMBER 13, 2024
Step 1: Establish Good Personal and Business Credit Scores Your creditworthiness is a fundamental element of the underwriting process, and lenders may look at both your business and personal credit scores. Credit scores provide lenders with a summary of how well you and your business have handled debt in the past.
8 Easy Steps for Building Business Credit for Your Small Business
The Red Spectrum
APRIL 20, 2023
Without a strong credit score, securing financing or partnerships that can help your business thrive can be difficult. In this article, we will provide you with a comprehensive guide on how to build business credit for your small business. Set up automatic payments or reminders to ensure that you never miss a payment.
25 Ways You’re Killing Your Savings: STOP Making These Mistakes
Due
MARCH 3, 2023
With that said, in this article, we’ll look at 25 ways you’re killing your savings and how to avoid them. Your credit score is 579 or lower. In this case, additional credit is difficult to get at a reasonable interest rate as this is below the average. Top Ways You’re Killing Your Savings 1.
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What Documents Will You Need for a Small Business Loan?
Lendio
MAY 28, 2024
Reasons for this can range from operating in a risky industry to a low credit score. You could also be asked for a copy of your LLC or articles of incorporation, if relevant. Your best bet is often to apply for financing (remember, it only takes 15 minutes and doesn’t impact your credit score) to see what’s needed.
Demystifying Customer Credit-Worthiness
Your Virtual Credit Manager
MARCH 28, 2023
Using objective criteria, it is relatively easy to determine which companies are worthy of open credit terms and which are not. There is a challenge, however, with the 20 to 30 percent of credit decisions that fall in between. The rule of thumb is the longer in business the lesser the credit risk. Photo by CardMapr.nl
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How Banks Assess Your Business Credit
tillful
JANUARY 9, 2023
You’re probably aware that good business credit comes with perks, but it might be less clear as to why. Well, it all comes down to credit risk. Your business credit score is an indicator that banks and other financial institutions use to gauge the risk associated with lending to your small business. What is Credit Risk?
Common Collateral for Business Loans
biz2credit
JANUARY 23, 2023
In this article: What is collateral? While sorting through loan applications, minimum credit score requirements, repayment terms, and … Continue reading "Common Collateral for Business Loans" The post Common Collateral for Business Loans published first on.
Why You Need A Virtual Office for LLC Owners
CreditStrong for Business
OCTOBER 11, 2024
In this article, we’ll cover how they work and how to get one. Your business credit scores are a record of how responsible your business is with finances. Opening a business bank account is a key step to build business credit. It might not seem like a big deal, but your privacy and safety are important to consider.
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