CreditStrong for Business
DECEMBER 12, 2024
You might choose to get a cosigner, find special financing options, save up a larger downpayment, or try your luck with a credit union. In many cases that information takes the place of your credit score. This can work for some, but you may end up paying more with bad credit financing through the dealer.
Fundera
MARCH 8, 2016
Younger, smaller businesses tend to have more trouble finding business loans from banks, which accounts for the accompanying increase in credit unions and especially online lenders. . With over half of all credit applications heading towards small banks, they clearly have an immense influence on lending in the United States.
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RMAi Blog
APRIL 13, 2023
Credit cards allow you to use other people’s money while debit cards only let you spend your own money. How a Credit Card Works: Before you can get a credit card, you will have to complete a credit application. A credit limit is the total amount you can charge on the card at any given time.
CreditStrong for Business
DECEMBER 12, 2024
As a result, both the FICO and VantageScore credit scoring models expect borrowers to shop around to keep financing costs as low as possible. They give you a short window during which multiple applications count as one credit application. Fortunately, checking your own credit counts as a soft credit inquiry.
Abrigo
MAY 5, 2017
Instead, applicants have more gripes about the process they encountered at financial institutions than about the financial aspects of their transactions, according to the 2016 Small Business Credit Survey by the Federal Reserve. That percentage increased to 67 percent among applicants with revenue of $1 million or less.
Abrigo
MAY 30, 2023
Despite the seemingly long runway to prepare, it's not too early to get a handle on the new requirements and how they will affect a bank or credit union. At Abrigo’s recent ThinkBIG conference, hundreds of bank and credit union staff members attended information sessions on the issue.
Biz2X
FEBRUARY 27, 2024
Section 1071 of the Dodd-Frank Act amended the Equal Credit Opportunity Act (ECOA), directing financial institutions to compile, maintain, and submit specific data on credit applications and lending decisions for women-owned, minority-owned, and small businesses, with the goal of fostering transparency, accountability, and fair lending practices.
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