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

JULY 11, 2024

It’d be helpful if you get it, but you’re probably wondering what credit score you need to get a small business loan. In this article, we’ll cover the different types of business loans and the credit expectations for each. Keep in mind your credit score isn’t the only determining factor here.

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Fundera

OCTOBER 20, 2019

How to Manage Small Business Finances in 5 Comprehensive Steps. Choose a business bank account and separate your personal and business finances. Organize your business finances by using accounting software and hiring a professional. Understand and fulfill your business tax responsibilities.

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Fundera

NOVEMBER 4, 2015

When you’re new to the world of small business lending, it’s not uncommon to have more questions than answers. Almost without fail, the first question every small business lender or loan broker will ask you is, “How much do you need?” How will my credit impact my small business lending options?

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Fundera

OCTOBER 16, 2015

If you’re a small business owner trying to secure a small business loan , the good news is you have more options available to you than ever before. Personal credit scores. Minimal time in business. Like any financing source, they want to feel confident you can pay back the money they lend you.

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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? What Goes into a Credit Score? A Credit Report Explained.

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Fundera

SEPTEMBER 13, 2016

If you’re a small business owner on the hunt for business loans , you probably know the deal with traditional banks: big banks just don’t lend to small businesses. More than 80% of banks reported that they tightened their lending standards for small businesses after the recession. That’s partly true.

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Small Businesses Credit Scoring Credit and Collections Credit Card Payments 104

Fundera

AUGUST 11, 2016

You took out a small business loan with the best of intentions… But things didn’t quite work out the way you’d planned—and now you can’t make your loan payments. What happens when you default on a loan? What Happens When You Default on a Loan? What Happens When You Default on a Loan?:

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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.

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Fundera

MARCH 28, 2018

You probably know how important your credit score is when you’re applying for a small business loan. But with all of the surprising ways you can damage your credit, that number might come as a surprise when it pops up on your application. What Your Credit Score Is, and Why It Matters: A Quick Rundown.

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Small Businesses Credit Scoring Default Credit and Collections 88

Lendio

NOVEMBER 1, 2023

There are many different kinds of small business loans, making it essential to do your research before beginning any application process. The 11 most popular types of small business loans The following information covers the common routes entrepreneurs take to get the capital they need.

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Lendio

OCTOBER 26, 2023

Another term for this type of financing is an unsecured business loan. It is important to point out that the lender’s risk is higher with an unsecured loan since it has no assets to take possession of in the event of a default. Because no collateral business loans involve more risk for lenders, these loans tend to be less common.

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Fundera

JANUARY 22, 2018

SBA loans are a coveted type of financing for small business owners. But is there an SBA loan credit score minimum? . Even though the program is meant to help more small businesses get financing, it does have strict requirements for qualifying—including a good credit score. What’s an SBA loan?

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Fundera

JULY 6, 2016

That’s right: your personal ( not business) credit score matters more than anything else. In this credit score guide, we’ll take a look at why your credit score matters, how it affects your business financing, and what improving your credit can do. What’s a Credit Score?

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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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Due

SEPTEMBER 30, 2023

For most prospective small business owners, many of the costs of running a business are clear from the beginning of the process. Even if the equipment is owned, simply planning around these inevitable issues and subsequent costs puts small business owners in a much better position when it comes to unexpected equipment costs.

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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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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. Please share this newsletter with your small business customers.

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CreditStrong for Business

JULY 11, 2024

Equifax’s three primary business credit scores are their Credit Risk Score, Payment Index Score, and Business Failure Score. You can typically call your scores in each of these models good if they’re above 556 , 90 , and 1,315 , respectively. The lower the score, the higher the risk.

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Fundera

SEPTEMBER 13, 2016

If you’re a small business owner on the hunt for business loans , you probably know the deal with traditional banks: big banks just don’t lend to small businesses. More than 80% of banks reported that they tightened their lending standards for small businesses after the recession. That’s partly true.

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Small Businesses Credit Scoring Credit and Collections Credit Card Payments 92

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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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?

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Fundera

SEPTEMBER 20, 2017

If you have a business in need of financing you might be wondering: based off my credit score, what kind of loan do I qualify for? Many different factors contribute to your ability to borrow, and it’s not just your credit score. If You Have Good Credit . If You Have Good Credit . Under the U.S.

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Fundera

NOVEMBER 17, 2018

Some small business owners are already financial experts: they have MBAs, experience in the private sector, and strong literacy in all things related to managing small business finances. If managing finances for a small business has you feeling completely overwhelmed, take a look at this comprehensive primer.

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Fundera

NOVEMBER 17, 2018

Some small business owners are already financial experts: they have MBAs, experience in the private sector, and strong literacy in all things related to managing small business finances. If managing finances for a small business has you feeling completely overwhelmed, take a look at this comprehensive primer.

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Fundera

SEPTEMBER 19, 2016

If you’re a small business owner, here’s one fact you might care about: Bank of America works with over 3 million small business owners in the U.S. And they don’t only have business checking accounts to offer. Bank of America Small Business Loans: What You Need to Know. Actually, we take that back.

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CreditStrong for Business

JULY 19, 2024

Business credit cards have perks that consumer credit cards don’t have. This list features top business credit cards for low credit scores that let you apply online and get almost instant approval results. Students or those without much credit activity in the past three years are good candidates.

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Fundera

JUNE 6, 2018

At their very best, small business loans work wonders to alleviate a business’s financial burdens. But for a business with cash-flow issues, getting a small business loan with a down payment actually adds to the stress. That’s why many borrowers hope to find no money down small business loans.

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Fundera

SEPTEMBER 27, 2016

Need small business financing ? Well, small business owner, you have a few paths you can take for funding. Or you can try applying for a small business loan from an online lender or a traditional bank. Yes, banks do have notoriously tight credit for small businesses. Capital One. .

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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. What Is the Minimum Credit Score for Business Loans?

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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.

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Fundera

JULY 22, 2018

Default vs. Delinquency. Loan defaults and delinquencies both stem from overdue loan payments. 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. Your Credit Score Will Take a Hit.

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Fundera

AUGUST 4, 2016

Owning a small business is risky enough without putting valuable assets, like your home, on the line as collateral for a business loan. But is there any way to get a small business loan without pledging collateral? . Here’s a closer look at how to get a small business loan without collateral.

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CreditStrong for Business

AUGUST 21, 2024

How Much Do Different Types of Business Loans Offer Whether you go to a bank or other financial institution for a small business loan, you should know that all loans are not built the same. The type of loan you get is determined by what the funds are used for, your business credit scores , and several other factors.

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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.

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Eagle Business Credit

APRIL 8, 2025

In today’s ever-changing economy, small business owners have several alternative business financing options , each with distinct features and implications. Two of the most popular business funding sources are Merchant Cash Advances (MCAs) and Invoice Factoring. MCA: Defaulting on an MCA loan can be costly.

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Fundera

NOVEMBER 7, 2020

Because of their quick underwriting processes, time to funding, and repayment terms, business bridge loans are ideal for moments when you know you’ll have a source of capital incoming (and you’re sure you can pay off a smaller loan when that happens), but you need to seize an opportunity now. What Is a Bridge Loan for Small Business?

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