tillful

JANUARY 11, 2023

A business credit score is similar to your personal credit score in that it serves as a key indicator of your business’s financial health and reliability as a borrower to repay. Why is your business credit score a deciding factor for so many different financial transactions?

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit and Collections Small Businesses 52

tillful

JUNE 14, 2023

Looking to learn the ins and outs of Experian business credit scores ? as a consumer credit reporting company, but it also collects information on millions of businesses and provides business credit reporting services. What is an Experian business credit score ?

Credit Scoring 52

Credit Scoring Credit and Collections Bankruptcy Credit Reporting Agencies 52

Abrigo

MAY 22, 2024

Recent stats and dynamics of the small business lending market Understanding the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. You might also like this guide for smarter, faster small business lending.

Credit Unions 78

Credit Unions Small Businesses Credit and Collections Credit Risk 78

CreditStrong for Business

JULY 29, 2024

If your credit scores aren’t in good shape, it can be challenging to get access to financing for your small business. Fortunately, there are commercial lenders that offer small business loans with no credit check, and in some cases, it can be what you need to keep your business afloat.

Small Businesses 52

Small Businesses Credit Scoring Credit and Collections Invoice Amount 52

tillful

FEBRUARY 2, 2023

Can a checking account help or hurt your credit score? In most cases, the answer is neither — it doesn’t connect to business credit at all. However, there are some exceptions, and credit scoring models may be moving in that direction in the future. Do checking accounts affect your credit score?

Credit Scoring 52

Credit Scoring Credit and Collections Credit Unions Credit Reporting Agencies 52

tillful

JANUARY 24, 2023

You may have heard about a business credit score and wondered if you really need to focus on building it. Can’t you just rely on your personal credit score? A business credit score is based on the financial track record of your business, and is tied to your employer identification number (EIN).

Credit Scoring 52

Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 52

Fundera

SEPTEMBER 18, 2018

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.

Credit Scoring 93

Credit Scoring Small Businesses Credit and Collections Collector 93

CommandCredit

OCTOBER 11, 2021

A good business credit score can help you get financing more easily. It can help if you need to take out a business loan or establish credit with another company. At Command Credit, we make it easy to check your business credit score or those of your customers and suppliers.

Credit Scoring 40

Credit Scoring Credit and Collections Credit Reporting Agencies Bankruptcy 40

CreditStrong for Business

OCTOBER 18, 2024

Yet lenders that use PayNet Scores will typically consider a PayNet MasterScore of 700 or higher to indicate a low level of credit risk. In 2019, the company was acquired by a major business credit bureau (Equifax). In 2019, the company was acquired by a major business credit bureau (Equifax).

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Default Credit Risk 52

CommandCredit

OCTOBER 4, 2021

An excellent credit score demonstrates that you made good financial business decisions, such as keeping your debt low, paying your bills on time, and using credit responsibly. You should check your business credit score so you know what others see when they look at your business credit report.

Credit Scoring 40

Credit Scoring Credit Risk Credit Unions Bankruptcy 40

CreditStrong for Business

OCTOBER 11, 2024

The SBFE abbreviation stands for the Small Business Financial Exchange. The organization was established in 2001, and it describes itself as a small business lending trade association. As a small business owner, it’s important to understand how the SBFE could impact you when you need to apply for new business financing.

Credit Reporting Agencies 52

Credit Reporting Agencies Credit and Collections Credit Scoring Small Businesses 52

Your Virtual Credit Manager

DECEMBER 27, 2022

Adding to the credit grantor’s challenge, that line is constantly changing. Please share this newsletter with your small business customers. Share Determining Creditworthiness For these reasons, creditworthiness is a fundamental consideration when granting credit to a business customer.

Credit Scoring 130

Credit Scoring Credit and Collections Accounts Receivable (AR) Credit Application 130

Your Virtual Credit Manager

JANUARY 23, 2024

Furthermore, new businesses and small businesses tend to have high failure rates, and there is good reason to believe a wave of defaults is coming. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. What do you need help doing?

Credit Application 130

Credit Application Bad Debt Bankruptcy Credit Scoring 130

CreditStrong for Business

AUGUST 16, 2024

Plus, if you ever experience problems with one of your business credit reports (i.e. identity theft, credit errors, etc.), knowing which business credit bureau to contact might help you resolve the issue faster. Below is an overview of the five primary business credit bureaus.

Credit Reporting Agencies 52

Credit Reporting Agencies Credit Scoring Credit and Collections Bankruptcy 52

Fundera

JULY 20, 2018

Most of us are familiar with the concept of checking our credit score—and, luckily, it’s a fairly simple process these days (for instance, you can do it right here). It’s true—even though you might think that a business credit score is just, well, private business , it’s actually publicly accessible.

Credit Scoring 73

Credit Scoring Bankruptcy Credit and Collections Credit Reporting Agencies 73

Your Virtual Credit Manager

OCTOBER 17, 2023

(Photo by Jandira Sonnendeck on Unsplash ) In most cases, you therefore have to extend credit to your B2B customers, which entails the following risks: Not being paid anything Being paid an amount less than the full invoice value Not being paid on time, whether in full or in part These outcomes are known as credit risks.

Bad Debt 130

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

CreditStrong for Business

SEPTEMBER 27, 2024

The PAYDEX® Score is a business credit score developed by Dun & Bradstreet. Lenders, vendors, investors, and others may check your company’s PAYDEX Score to evaluate risk and decide whether they wish to work with you. What Is the PAYDEX Score and How Is It Used? What Is a Good PAYDEX Score?

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit Risk Small Businesses 52

Fundera

JUNE 15, 2018

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.

Credit Scoring 71

Credit Scoring Credit and Collections Credit Risk Default 71

Due

OCTOBER 20, 2023

Since the 2008 financial crisis, most small businesses and individuals looking to launch their startups have had limited options in securing funding. What was once considered an economic anchor of the United States, small businesses now account for less than 50 percent of the GDP.

Small Businesses 52

Small Businesses Credit Scoring Credit Risk 52

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.

Credit Scoring 68

Credit Scoring Credit Reporting Agencies Credit and Collections Credit Card Companies 68

Fundera

DECEMBER 12, 2018

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.,

Credit Scoring 71

Credit Scoring Credit and Collections Credit Risk Default 71

Fundera

JULY 12, 2016

While there’s some debate in American politics over whether or not “corporations are people,” it is true that businesses have credit scores and can receive credit reports the same way individuals do. What is a Business Credit Score? How Can I Check the Credit Score of my Business?

Credit Scoring 75

Credit Scoring Credit and Collections Bankruptcy Credit Card Companies 75

Fundera

SEPTEMBER 1, 2017

While there’s some debate in American politics over whether or not “corporations are people,” it is true that businesses have credit scores and can receive credit reports the same way individuals do. What is a Business Credit Score? How Can I Check the Credit Score of my Business?

Credit Scoring 70

Credit Scoring Credit and Collections Bankruptcy Credit Card Companies 70

CreditStrong for Business

AUGUST 23, 2024

Report users can purchase business credit scores from Equifax too, such as: Business Delinquency Score Business Delinquency Financial Score Business Credit Risk Score Early Default Score And More Different business scoring models have different numerical ranges.

Credit Reporting Agencies 52

Credit Reporting Agencies Credit Scoring Credit and Collections Bankruptcy 52

CreditStrong for Business

OCTOBER 4, 2024

Purchasing a vehicle for your business can be expensive. But if you’re a small business owner who needs financing to buy a commercial vehicle, it may be wise to take out a loan in your company’s name rather than a personal loan tied to your consumer credit reports. Personal credit scores may require a separate purchase.

Credit Scoring 52

Credit Scoring Credit Unions Credit Card Companies Small Businesses 52

MNS Credit Management Group

AUGUST 7, 2023

A company that does not have a sufficient corporate credit score may struggle to obtain crucial loans. What is a company credit score? A business credit score is a credit rating that indicates how likely a company is to repay its loans on schedule and without default.

Credit Scoring 52

Credit Scoring Credit Risk Credit and Collections Bad Debt 52

tillful

JANUARY 9, 2023

Or why SBA loans, the crème de la crème of small business loans, require so much documentation? 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. What is Credit Risk? Borrower Reputation.

Credit Scoring 52

Credit Scoring Credit and Collections Credit Risk Default 52

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. Business Loans Small business owners might qualify for some type of business loan.

Bankruptcy 52

Bankruptcy Credit Scoring Credit and Collections Credit Unions 52

Abrigo

NOVEMBER 17, 2023

Frustrating processes tied to credit requests and slow loan decisions are among borrowers’ biggest complaints about banks and credit unions compared to online or alternative lenders. Review everything from one system. The analyst can focus on analyzing large, complex scenarios rather than data entry and spreadsheets.

Credit Unions 88

Credit Unions CECL Credit Risk Credit and Collections 88

tillful

FEBRUARY 28, 2023

Have you heard about the FICO Small Business Scoring Service (SBSS)? Like most business credit scores, the SBSS helps lenders and service providers understand the level of credit risk that businesses present. What is an SBSS score? small business credit applicants.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Bankruptcy 98

CreditStrong for Business

AUGUST 2, 2024

When your small business needs to borrow money, one of the first places you might turn to is a financial institution. Getting a business loan from a bank can be a wise choice. On the other hand, getting a business term loan or an SBA loan from a bank might not be the easiest undertaking.

Credit Scoring 52

Credit Scoring Small Businesses Credit Risk Default 52

CreditStrong for Business

AUGUST 30, 2024

Several industries fall into the low-risk category: Business management consulting Doctor’s offices Dentistry Educational services Software development Utilities These industries also share some key factors that make them safer to lend money to from a bank’s perspective. What Types of Businesses Get The Most Funding?

Credit Scoring 52

Credit Scoring Credit and Collections Insurance Companies Credit Risk 52

Abrigo

MAY 18, 2023

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?

Credit Risk 78

Credit Risk Credit and Collections Default Credit Scoring 78

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). Your personal credit score is separate from your business.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Default 98

CreditStrong for Business

NOVEMBER 8, 2024

Trade references have the potential to help your business qualify for financing and establish good business credit scores. You’ll also find a behind-the-scenes look at how to get trade references as a new or existing business. They can help your company establish positive business credit.

Credit Scoring 40

Credit Scoring Credit Reporting Agencies Credit Application Credit Risk 40

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.

Credit Scoring 130

Credit Scoring Credit Application Bad Debt Credit Risk 130

Fundera

FEBRUARY 6, 2018

Running a business involves a constant learning curve. And that applies whether you’re a rookie entrepreneur just starting out with a great idea for a new business or a more established small business owner with a quickly growing business that needs to expand. Accounting Terms to Know. Accounts Receivable.

Small Businesses 105

Small Businesses Credit Scoring Credit and Collections Bankruptcy 105