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How to Accept Credit Card Payments for your Small Business

Lendio

If you’re trying to decide whether you should accept credit card payments, it’s never been easier. This guide will help you to decide whether you should take advantage of the estimated 441 million open credit card accounts in the United States. Why accept credit cards?

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Revolving Credit vs Installment Credit

CreditStrong for Business

Credit cards and other revolving credit accounts function in a cyclical way. Car loans and other installment credit accounts involve borrowing a lump sum and repaying the balance over a predefined series of months. What is Revolving Credit? What is Revolving Credit? What is Installment Credit?

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Business Finance Terms Definition List

tillful

Credit limit. A credit limit is the amount of money a borrower is allowed to borrow through a specific credit line. For example, if your business gets approved for a $5,000 credit card, your credit limit would be $5,000. Credit score. Credit utilization ratio. Interest payments.

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Quick Ratio: Definition, Formula, Examples

Fundera

Current liabilities—like accounts payable , credit card payments, and loan payments due within the next 12 months—make up the other half of the quick ratio calculation. Also, any significantly past-due balances which might not be collectible should be excluded from the quick ratio calculation. Inventory: $530,000.

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The Definitive Guide to your FICO SBSS Score

Fundera

You’ve got your personal credit score, your balance sheet, your profit and loss statement, your FICO SBSS…. You know, that small business credit score that’s all the rage these days? Welcome to the definitive guide to your FICO SBSS. Credit Scores: A Refresher Course. Personal Credit Score. Wait, wait. Back it up.

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Is There a Minimum Credit Score for Business Loan Eligibility?

Fundera

And among those fluctuating factors might be a minimum credit score for loan eligibility. But for the vast majority of small business loans , the lender will at least look at your credit score. Credit scores are a crucial factor in the loan underwriting process, since they help determine how trustworthy a borrower really is.

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What Does Your Credit Score Mean? Here’s a Step-by-Step Explanation

Fundera

But when those three digits represent your personal credit score , they can indeed have a dramatic impact on your future choices. To a large extent, the answer depends on those three digits of your credit score, so you should probably know what credit scores mean. Credit Score Meaning: What Is FICO?