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13 Surprising Factors That Affect Your Credit Score (and Why Small Business Owners Should Care)

Fundera

When a credit bureau computes your credit score, their job is to produce a number that estimates—given your past and current financial history—how likely you are to default on future debts. There are five notable components of a personal credit score. There are five notable components of a personal credit score.

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What Is a Good Credit Score, and Why Should You Care?

Fundera

Even before you began your search for small business loans , you’ve more than likely heard of a credit score. You’ve also more than likely heard of a good credit score, too. Here’s the gist of it: Your credit score is a numerical indication of how responsibly you’ve handled your financial obligations.

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Top 10 Challenges CFOs of Travel Management Companies Face in Accounts Receivables Management

Emagia

Client Segmentation & Payment Behavior Corporate Clients vs. Leisure Travelers: Each has different payment terms, credit risk profiles, and collection strategies. Manual Collections and Credit Risk Manual Follow-Ups: Collections teams often rely on spreadsheets and emails to track follow-ups, causing delays and inefficiencies.

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What Is a Good Credit Score? (And How to Get One ASAP)

Fundera

Credit scores have become a huge part of our lives. There’s no question a good credit score is crucial for so many varying parts of our lives, but the questions stands—what is a good credit score? What is the score you need to get the best credit card, mortgage, business loan , auto loan, etc.,

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Due Diligence Doesn't End with the Credit Application

Your Virtual Credit Manager

There will only be a minimal loss if a small volume account defaults, so the higher the sales volume and credit risk (and remember that new businesses pose a higher risk), the more frequently you should be reviewing those accounts. Credit scores typically provide either a probability or default or of slow payment.

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Considering the scope and depth of loan review roles and processes

Abrigo

You might also like this webinar, "Return to basics: Asking the right credit risk questions." How broad a field does loan review need to plow to unearth potential credit risks and assess overall credit quality? Scope in loan reviewing What is the scope of an adequate loan review?

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60 Business Finance Terms and Definitions You Absolutely Should Know

Fundera

A business finance term and definition referring to expenses that have been incurred but haven’t yet been recorded in the business books. Turning to bankruptcy should be given careful thought because it will have a negative effect on the business credit score. Business Credit Score. FICO Score.