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.

Credit Scoring 119

Credit Scoring Bankruptcy Credit and Collections Credit Reporting Agencies 119

Fundera

SEPTEMBER 20, 2017

We’re thinking of a number between 300 and 850… and it’s your credit score. Unless you have an absolutely perfect credit score—850—we’re willing to bet that you’d like to tack on a few points to that three-digit number. Building credit fast is no easy task. Why You Need to be Monitoring Your Credit.

Credit Scoring 98

Credit Scoring Credit Reporting Agencies Credit and Collections Bankruptcy 98

CreditStrong for Business

NOVEMBER 7, 2024

Prospective homebuyers seeking a mortgage loan may use several strategies for improving low credit scores. Examples include reviewing credit bureau reports for possible credit account errors, avoiding late payments, paying down debt, and getting a credit builder loan.

Credit Scoring 40

Credit Scoring Credit and Collections Credit Reporting Agencies Credit Card Companies 40

Fundera

FEBRUARY 6, 2018

One of the important documents required by lenders and investors that shows a summary of the actual collection of revenue and payment of expenses for your business. Bankruptcy. Turning to bankruptcy should be given careful thought because it will have a negative effect on the business credit score. Credit Limit.

Small Businesses 105

Small Businesses Credit Scoring Credit and Collections Bankruptcy 105

Fundera

MARCH 6, 2019

One of the important documents required by lenders and investors that shows a summary of the actual collection of revenue and payment of expenses for your business. Bankruptcy. Turning to bankruptcy should be given careful thought because it will have a negative effect on the business credit score. Credit Limit.

Credit Scoring 105

Credit Scoring Credit and Collections Bankruptcy Small Businesses 105

Your Virtual Credit Manager

MARCH 19, 2024

Collection activity: Document the instances of broken promises or payment agreements before speaking to the customer's management. This is done by getting updated credit reports, updating credit references, sharing information with a credit industry group, and monitoring various information sources both internal and external.

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

Fundera

AUGUST 29, 2016

We’re thinking of a number between 300 and 850… and it’s your credit score. Unless you have an absolutely perfect credit score—850—we’re willing to bet that you’d like to tack on a few points to that three-digit number. Building credit fast is no easy task. Why You Need to be Monitoring Your Credit.

Credit Scoring 75

Credit Scoring Credit Reporting Agencies Bankruptcy Small Businesses 75

Fundera

MARCH 2, 2016

Most businesses can qualify for an SBA loan if they’ve operated for at least 2 years, have no recent bankruptcies or foreclosures, and have positive cash flow,” says Judy Balint, CMO at SmartBiz. Balint says that applicants also need to meet the following criteria for a SmartBiz loan: A good personal credit score.

Bankruptcy 73

Bankruptcy Credit Scoring Small Businesses 73

Fundera

MARCH 10, 2016

The length of the process depends on how quickly the borrower submits their required documentation. Each application is unique, so there may be times that a borrower needs to provide additional documentation,” says Balint. citizen or Lawful Permanent Resident who is at least 18 years old, and a good personal credit score,” she says.

Credit Scoring 76

Credit Scoring Bankruptcy Small Businesses 76

Fundera

OCTOBER 20, 2019

Get a handle on your personal and business credit scores. We’ll break down need-to-know accounting terms, how to handle your credit scores, how to apply for a business loan, and more—so that you’ll have all the information you need to manage your small business finances.

Small Businesses 101

Small Businesses Credit Scoring Credit and Collections Default 101

Fundera

JUNE 13, 2018

Similarly, in cases of business bankruptcy in which you don’t have a separately established business entity, your personal credit score will tank along with your business credit score (if you have one—more on that below). Why Establish a Business Credit History. Try the Credit Card Guide.

Credit Scoring 94

Credit Scoring Credit and Collections Business Bankruptcy Bankruptcy 94

CreditStrong for Business

SEPTEMBER 12, 2024

Public records usually appear on your credit report as the result of a financial disaster. Evictions, foreclosures, bankruptcies, and judgments are terrible news for your credit. Each one of these affects your credit reports and scores differently. What Do Public Records Mean on a Credit Report?

Chapter 7 52

Chapter 7 Credit Reporting Agencies Bankruptcy Credit Scoring 52

Fundera

APRIL 17, 2018

Watch out, because you might just see a bump in your personal credit score on the way. That’s because thanks to Experian, TransUnion, and Equifax—the three major credit bureaus—credit reports no longer include tax liens. Credit Reports No Longer Include Tax Liens. What’s a Tax Lien?

Credit Scoring 67

Credit Scoring Bankruptcy Small Businesses Default 67

Know-It Global

JUNE 20, 2023

Credit terms and conditions: Clearly communicate expectations regarding payment methods, discounts, warranties, and any other relevant terms. Business Credit Checks: In the world of business, credit plays a pivotal role in determining financial stability and growth. This is where business credit checking comes into play.

Bad Debt 19

Bad Debt Credit and Collections Debt Collections Credit Risk 19

Your Virtual Credit Manager

SEPTEMBER 12, 2023

For lower credit limit requirements you will need to rely on the account’s payment history, available from their references and on their credit bureau report, or possibly a credit score. Ultimately, you need to have the information, skills and tools to make a good decision.

Credit and Collections 130

Credit and Collections Bad Debt Accounts Receivable (AR) Deductions 130

CreditStrong for Business

OCTOBER 24, 2024

Variable requirements might include a minimum credit score or monthly income, some deposit or asset for securing the loan (collateral), a specified debt-to-income ratio, and others. Some small business owners with good personal credit might qualify for a loan that they use for business-related purposes.

Bankruptcy 52

Bankruptcy Credit Scoring Credit and Collections Credit Unions 52

Fundera

MARCH 21, 2018

If you want to be the best possible candidate for a local business loan, credit is king. You have a business credit score, right? If you’ve repaid debts, declared bankruptcy, defaulted on loans, paid bills on time, etc. You’ll want to be in excellent credit standing—think high 600s-plus for a local bank loan.

Credit Scoring 73

Credit Scoring Bankruptcy Small Businesses Default 73

Fundera

DECEMBER 27, 2018

If you’re a small business owner, you have two credit scores. There’s your personal credit score, and then there is your business credit score. A business credit score is a reflection of the creditworthiness of your business. Payment History. Public Record.

Credit Scoring 55

Credit Scoring Bankruptcy Credit Risk Credit Unions 55

Fundera

MARCH 8, 2016

Applying for a loan can be pretty time-consuming: you have to collect all your financial records and documents, complete application forms, and make sure you have a convincing reason to take out a loan. This document lowers the lender’s risk—by letting them chase after your personal assets if your business fails or you default on the loan.

Credit Scoring 74

Credit Scoring Default Credit and Collections Small Businesses 74

Fundera

JULY 7, 2016

Approval Time : From the time you submit your application and necessary financial documents, you will typically learn if you’ve been approved in 72 hours. You must have a minimum credit score of 620. You should have zero bankruptcies in the last 7 years. If you’ve ever filed for bankruptcy. Your Documents.

Bankruptcy 74

Bankruptcy Small Businesses Credit Scoring 74

Fundera

AUGUST 16, 2018

A loan specialist can also help ensure that your SBA loan application doesn’t get delayed or denied for completely avoidable reasons, such as missing documentation. For example, lenders might have specific credit score minimums, or they might require a specific amount of collateral. Issues of character (e.g.

Credit Scoring 80

Credit Scoring Bankruptcy Small Businesses 80

Fundera

JANUARY 24, 2019

They have a quick application, simple document requests, and can get an answer to you in an under a week. A minimum credit score of 500. Here’s what you need to qualify for a Fundbox line of credit: A business run on invoices. No minimum credit score—they don’t even check it. A minimum credit score of 550.

Credit Scoring 72

Credit Scoring Small Businesses Bankruptcy Transactions 72

Fundera

JUNE 1, 2016

Minimum FICO Score: Although Bond Street prefers to see FICO scores above 600, this is only a guideline. “We We do not make a judgement on your application based solely on your credit score,” says Walpert. Approval Time: Typically you’ll have your loan decision within 48 hours of receiving all documentation.

Credit Scoring 74

Credit Scoring Bankruptcy Deductions Small Businesses 74

Fundera

NOVEMBER 17, 2018

Get ready to learn about need-to-know accounting terms, managing your credit scores, applying for a business loan , and more so you can feel prepared for managing finances for a small business. Your 4 Most Important Business Accounting Documents. Part 1: Business Accounting 101: How to Organize Your Business Finances .

Small Businesses 75

Small Businesses Credit Scoring Credit and Collections Default 75

Fundera

NOVEMBER 17, 2018

Get ready to learn about need-to-know accounting terms, managing your credit scores, applying for a business loan , and more so you can feel prepared for managing finances for a small business. Your 4 Most Important Business Accounting Documents. Part 1: Business Accounting 101: How to Organize Your Business Finances .

Small Businesses 75

Small Businesses Credit Scoring Credit and Collections Default 75

Fundera

JANUARY 17, 2018

If you have limited or poor credit, then considering a business line of credit for bad credit could be a smart move—either on its own or coupled with another small business loan. A business credit line can give you easy access to working capital that you can use to cover your business’s expenses.

Credit Scoring 72

Credit Scoring Small Businesses Bankruptcy Transactions 72

Due

JULY 18, 2023

And, sometimes, this has resulted in bankruptcy. As an example, despite filing for bankruptcy in 2022 , influencer Christie Swadling shared ‘money-saving tips’ online. Despite projecting a lavish lifestyle on social media, the YouTuber is struggling financially, according to documents that leaked online in February 2023.

Bankruptcy 98

Bankruptcy Credit Scoring 98

CreditStrong for Business

AUGUST 30, 2024

How Does an Eviction Affect Your Credit? Consumers recognize that a poor credit history hinders their eligibility for financing homes, cars, and other large purchases. People with low credit scores often pay higher insurance rates and may have fewer employment options when credit checks are part of background checks.

Credit Reporting Agencies 52

Credit Reporting Agencies Credit and Collections Bankruptcy Credit Scoring 52

CreditStrong for Business

SEPTEMBER 4, 2024

According to FICO’s credit scoring model, consumers with higher credit scores should expect a more dramatic decrease in their credit score than those with average or fair credit scores. In most cases, the credit agencies will issue a formal response to your dispute within a month.

Credit Scoring 52

Credit Scoring Credit and Collections Bankruptcy Credit Reporting Agencies 52

Emagia

OCTOBER 17, 2022

RPA is now part of the modern credit risk management platform to help enterprises automate many human manual activities, such as entering data, communicating with customers, and collecting relevant data from various sources such as the Office of Foreign Assets Control (OFAC), U.S. Credit Risk Management– Frequently Asked Questions (FAQs).

Credit Risk 52

Credit Risk Credit Scoring Bankruptcy Credit and Collections 52

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.

Credit Scoring 52

Credit Scoring Chapter 7 Credit and Collections Bankruptcy 52

Fundera

MARCH 6, 2018

And even this comparison is deceptive to some degree, because qualifying for that lowest possible rate on a traditional term loan requires a perfect financial history, high credit score, and high annual revenue—something most business owners simply don’t have. What Documents Are Needed for an SBA Loan Application? Balance sheet.

Credit Scoring 76

Credit Scoring Small Businesses Bankruptcy Transactions 76

Fundera

FEBRUARY 26, 2019

One of the most important factors in a business loan application is your credit score. And of course, credit is equally important for personal milestones, such as buying a home or car. There is a lot of information about your financial history tied up in your three-digit credit score.

Credit Scoring 57

Credit Scoring Collector Credit and Collections Bankruptcy 57

tillful

JANUARY 11, 2023

Credit is a fundamental business tool that allows companies of all sizes to keep operations running smoothly, invest in expansion, and work with their partners and vendors. Traditional business credit scores work off key indicators that they’ve determined to accurately reflect a company’s financial strength and creditworthiness.

Credit Scoring 52

Credit Scoring Credit and Collections Bankruptcy Credit Risk 52

Fundera

FEBRUARY 22, 2019

Perpetual existence: If you pass away or declare bankruptcy, your corporation will live on. When you register your business as a legal entity, you’ll need to file documents known as “articles of incorporation” with your state. To do this, you need to select a state registered agent to handle all legal documents for your company.

Bankruptcy 90

Bankruptcy Small Businesses Credit Scoring Transactions 90

Lendio

JUNE 6, 2023

Think of business credit as your personal credit score. A better business credit score gives a company more access to funds from lenders and banks because of a good track record in availing and repaying debt. Vice versa, bad business credit can also negatively affect your personal credit.

Credit Scoring 52

Credit Scoring Bankruptcy Credit and Collections Transactions 52

Fundera

SEPTEMBER 15, 2020

If you file for bankruptcy. Along with your EIN, you’ll need to provide a few other documents to open a business checking or savings account. Loans, business credit card activity, and payments to vendors and suppliers show up on your business credit report. Corporations and any entity taxed as a corporation.

Deductions 130

Deductions Small Businesses Bankruptcy Credit Scoring 130