Due

JANUARY 13, 2023

Your credit score impacts everything from getting a favorable interest rate on a credit card to buying a home, paying for insurance, and more. If your current credit score is less than ideal, here are ten hacks to increase your credit score fast. Dispute Errors on Your Credit Report.

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CreditStrong for Business

JULY 26, 2024

When you apply for a business loan, commercial lenders consider many different factors, including your business credit scores, credit history, financials, collateral, and more. But in many cases, your credit scores are the most important factor because they indicate how well you’ve managed your debts in the past.

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CreditStrong for Business

AUGUST 16, 2024

The 800 credit score club. If that’s your next goal, you’re probably wondering, “What can I do with a credit score of 850?” So let’s check out the perks for 850 scores. 850 Credit Score Benefits Making it to an 800 credit score, let alone an 850, is quite the undertaking.

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The Red Spectrum

MAY 9, 2023

A high credit score is necessary in today’s society to obtain credit, loans, and other financial services. It is a sign of a person’s credit history and how likely they are to repay loans they have taken out. The greater the creditworthiness, the higher the score.

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CreditStrong for Business

JULY 19, 2024

For some loan options, the Small Business Administration uses the FICO Small Business Scoring Service (SBSS). The FICO SBSS is a business credit scoring system that combines information from your business and personal credit history as well as your business finances. The lenders providing the loan might.

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Credibly

JULY 31, 2024

Going beyond the basic eligibility qualifications for a small business loan Evaluating your small business credit score for a small business loan Collateral and guarantees required for small business loans Why do some lenders require down payments for small business loans?

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CreditStrong for Business

AUGUST 2, 2024

Besides your credit score, the primary factors that influence the size of a home loan you can get are your income and other debts. Without knowing your income, down payment amount, and debt-to-income ratio, it’s impossible to know how much of a home loan you can get with a 650 credit score. Is 650 a Good Credit Score?

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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. You can download the Tillful iOS app to check if your company has a credit profile with Experian.

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Abrigo

SEPTEMBER 15, 2022

Researchers find construction loans with more on-site inspections are less likely to default, suggesting that loan monitoring adds value to lenders. More construction loan monitoring ultimately decreases loan default, according to a new FDIC Center for Financial Research working paper. On-site inspections. percentage points. “As

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Lendio

NOVEMBER 2, 2023

As a business owner, you know how important it is to maintain a good credit score. But what exactly can hurt your credit score? Payment history Your payment history is vital for your credit score. Late payments, missed payments, and defaults can significantly lower your score.

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Lendio

NOVEMBER 8, 2023

Some lenders are more tolerant of delinquency than others, but at a certain point, late and missed payments result in a default. Read to better understand how a default on a business loan typically plays out and how it could affect you. Default vs delinquency: Understanding the difference. So what happens if you default?

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CreditStrong for Business

MARCH 24, 2023

Conventional mortgage loans typically require higher credit scores than government-backed loans, but there are also many advantages to going with conventional mortgages. What is the Required Minimum Credit Score for a Conventional Loan? How Can Credit Scores Affect Mortgage Interest Rates?

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Your Virtual Credit Manager

JUNE 25, 2024

Increasing complaints from customers about invoice discrepancies, unclear payment terms, or disputes suggest that you have systemic problems with the potential to create significant payment delays or defaults. Commensurate with a rising expectation of defaults, is a worsening of the quality of your AR portfolio along with profit shrinkage.

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Emagia

MARCH 15, 2024

While optimized credit risk management and accounts receivable processes can positively impact critical KPIs such as revenue leakage, default and delinquency rates, dysfunctional customer relationships, and excessive overheads, inefficient processes can have unfavorable effects on these metrics.

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Emagia

MARCH 15, 2024

While optimized credit risk management and accounts receivable processes can positively impact critical KPIs such as revenue leakage, default and delinquency rates, dysfunctional customer relationships, and excessive overheads, inefficient processes can have unfavorable effects on these metrics.

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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. If the European parent company defaulted, the North American subsidiary would be pulled into bankruptcy even though its operations were profitable.

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Fundera

SEPTEMBER 1, 2017

Well, if you’re a credit score aficionado like we are, you’ll recognize 850 as the absolute perfect credit score. Out of all your financial numbers, documents, and sheets, your credit score might just be one of the most important attributes out there. Quick(ish) Review: What’s a Credit Score?

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CreditStrong for Business

JULY 5, 2022

Payment history is the most important factor in calculating your FICO® credit score. Your payment history accounts for over a third of your overall FICO credit score, comprising 35% of the impact of all FICO credit score factors. Read more about the factors that impact your credit score.

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Credibly

OCTOBER 31, 2023

Table of Contents What happens if you default on a business loan? What happens if your business defaults on a loan? What’s the difference between default and delinquency? What you can do before your loan goes into default Does defaulting on a business loan affect my personal credit?

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Fundera

DECEMBER 13, 2018

What Is a Perfect Credit Score? When it comes to personal credit scores, the absolute perfect credit score is 850. Though it may seem impossible, it’s actually totally doable if you’re responsible with your debt and check (and recheck) your credit score often.

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CreditStrong for Business

OCTOBER 18, 2024

As a small business owner, your company’s PayNet Scores could impact your ability to qualify for various types of business financing. Therefore, understanding how PayNet Scores work and the information that influences them is important. The PayNet MasterScore predicts the likelihood that a business will default (i.e.,

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Due

OCTOBER 9, 2024

This article aims to provide an in-depth understanding of the relationship between mortgage rates, the 10-year treasury rate, individual credit scores, and the MOVE Index. A credit score is a numerical expression based on a level analysis of a person’s credit files, representing the creditworthiness of an individual.

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Your Virtual Credit Manager

DECEMBER 27, 2022

Cash flow is the biggest cause of customers defaults, but often cash flow is a result of other financial problems or miscues. A customer can be paying you with no problems, but then their bank line of credit comes up for review and is drastically cut back by the bank. Click here for more information about credit applications.

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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. How Credit Bureaus Calculate Your Credit Score.

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Fundera

OCTOBER 5, 2017

If you’ve ever learned much about personal financial management, you know that maintaining a strong personal credit score is critical to your ability to qualify for things like a home mortgage, personal or car loan, or even a personal credit card. What I s a Business Credit Score?

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Fundera

JANUARY 25, 2019

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?

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Fundera

MAY 10, 2016

Well, if you’re a credit score aficionado like we are, you’ll recognize 850 as the absolute perfect credit score. Out of all your financial numbers, documents, and sheets, your credit score might just be one of the most important attributes out there. Quick(ish) Review: What’s a Credit Score?

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CreditStrong for Business

AUGUST 21, 2024

The type of loan you get is determined by what the funds are used for, your business credit scores , and several other factors. With this government-backed funding, you’ll need to come prepared with excellent financials, a good credit score, and a solid business plan to qualify for higher loan amounts.

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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.

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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.,

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CreditStrong for Business

SEPTEMBER 6, 2024

Requirement #1: Credit Score One of the first details a lender will consider when you apply for financing is your creditworthiness. And with small business loans, a lender may want to examine your business credit score and your personal credit score. With secured loans, however, collateral is a must.

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Your Virtual Credit Manager

AUGUST 27, 2024

Just 25 years ago, credit executives were primarily concerned with financial risks — except of course for the Y2K bug that briefly stole the spotlight. Delinquency risk and the risk of default were the primary focus. Do you need help assessing customer credit risks? Be cautious about sharing sensitive information.

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Fundera

DECEMBER 28, 2016

For consumers and small business owners alike, credit bureaus, credit reports, and credit scores can feel like one big, confusing puzzle. What exactly goes into that all-important, 3-digit number known as your credit score? That’s why we’re diving deep into credit inquiries. A Credit Report Explained.

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CreditStrong for Business

SEPTEMBER 6, 2024

Personal and business credit scores both impact your ability to qualify for a business loan. Here’s everything you need to know about how to get a business loan with bad credit, including a step-by-step guide to the process and the best types of financing to target. For context, the average FICO score was 714 in 2021.

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Fundera

SEPTEMBER 16, 2017

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 your credit score meaning. Credit Score Meaning: What is FICO?

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CreditStrong for Business

AUGUST 23, 2024

Keep reading to learn more about how business credit reports work, who creates them, and the information included in these important but poorly understood reports. What Is a Business Credit Report? But bad business credit can hold your company back, and cost it more money. Intelliscore Plus ranges from 1 to 100.

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Fundera

MARCH 3, 2019

If you miss several payments or can’t make payments for an extended time (usually 90 to 120 days), the lender will place the loan in default and can start collection proceedings against you. Both delinquencies and defaults damage your credit. Your Credit Score Will Take a Hit. 3% of the amount due.

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