CreditStrong for Business

NOVEMBER 1, 2024

Have reasonable owner equity to invest. In other words, you can’t be a nonprofit organization, you have to do business in the U.S., That includes: Businesses that engage in illegal activities, loan packaging, speculation, multi-sales distribution, gambling, investment, or lending. Real estate investment firms.

Credit Scoring 52

Credit Scoring Nonprofit Organizations Small Businesses Credit Unions 52

CreditStrong for Business

SEPTEMBER 13, 2024

For example , while the SBA sets a minimum FICO Small Business Scoring Service (SBSS) score at 155, some lenders may require a 160 or 165 — this score is essentially the business version of your personal FICO score. If you’re denied an SBA loan, ask the lender for the reasons so you can know what to work on.

Credit Scoring 52

Credit Scoring Nonprofit Organizations Credit and Collections Credit Unions 52

CreditStrong for Business

SEPTEMBER 13, 2024

To build business credit , you can look into Credit Strong’s business credit builder loan in order to start increasing your business credit score! In terms of credit scores, you typically need a FICO score of 640 or higher and a FICO Small Business Score Service score of 155 or higher.

Credit Scoring 52

Credit Scoring Credit Unions Nonprofit Organizations Credit and Collections 52

Lendio

AUGUST 14, 2023

Have sufficient equity to invest Meet size requirements for a “ small business” as defined by the SBA Be in an eligible industry Demonstrate ability to repay the loan through a combination of credit score, earnings, and equity or collateral SBA 7(a) Loan Requirements In the world of SBA financing, these loans are the rockstars.

Credit and Collections 98

Credit and Collections Nonprofit Organizations Credit Scoring Default 98