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

JUNE 25, 2024

Declining Customer Credit Scores A good way to monitor the quality of your AR portfolio is to periodically (e.g., usually quarterly, semi-annually or annually) purchase or generate a credit score for each customer. Implementing standardized invoicing procedures will help ensure accurate and detailed billing information.

Bad Debt 130

Bad Debt Credit and Collections DSO Days Sales Outstanding 130

CreditStrong for Business

OCTOBER 8, 2024

The collector will report a collection account, which can then do serious damage to your credit. What Bills Affect My Credit Score? Only payments that are reported to the three major credit bureaus will affect your credit. There are ways to place some payments on your credit report.

Credit Scoring 52

Credit Scoring Collector Credit and Collections Credit Reporting Agencies 52

CreditStrong for Business

OCTOBER 24, 2024

While it usually hurts your credit score, the damage is rarely significant, and your credit should recover quickly. Fortunately, interest rates have fallen in the last two years, and you’ve established a good credit score. Refinancing your car loan can lower your interest costs and monthly debt payments.

Credit Scoring 52

Credit Scoring Transactions 52

CreditStrong for Business

OCTOBER 18, 2024

A small business owner can’t always get away with using their personal credit score to demonstrate their creditworthiness. Vendors and lenders also often consider business credit scores, including the popular Dun & Bradstreet PAYDEX Score. Is 80 a Good PAYDEX Score?

Credit Scoring 52

Credit Scoring Transactions Insurance Companies Small Businesses 52

CreditStrong for Business

OCTOBER 11, 2024

Although the SBFE maintains a database of information on millions of small businesses, it does not create its own business credit reports or business credit scores to sell to others. Only an SBFE member, however, can purchase credit risk products (i.e., What Information Does the SBFE Collect? Business Leases.

Credit Reporting Agencies 52

Credit Reporting Agencies Credit and Collections Credit Scoring Small Businesses 52

Due

JANUARY 8, 2024

These tips include working on your debt-to-income (DTI) ratio, increasing income, finding ways to prequalify before formally applying, and improving your credit score. However, getting approved for a personal loan is not always easy, especially if you have a low credit score, a high debt-to-income (DTI) ratio, or a limited income.

Credit Scoring 100

Credit Scoring Credit and Collections Credit Unions Medical Billing 100

The Red Spectrum

MAY 11, 2023

Late fees and credit score damage for your company can arise from late payments. Late payments can damage your business’s reputation, impact your credit score , and result in hefty fees and penalties. Building and maintaining strong business credit is one of your top priorities as a business owner.

Small Businesses 97

Small Businesses Credit Scoring 97

Lendio

OCTOBER 25, 2023

While you might have to do some research and take some extra steps to get approved, you can lock in an equipment loan with a less-than-perfect credit score. Here’s everything you need to know about securing equipment financing with bad credit. Can you get equipment financing with no credit check?

Credit Scoring 96

Credit Scoring Default 96

The Red Spectrum

APRIL 20, 2023

Lenders typically establish credit limits based on various pieces of information about the credit-seeking applicant, including their income and employment status. Credit limits are a crucial factor that can impact consumers’ credit scores and their capacity to obtain credit in the future.

Credit Scoring 95

Credit Scoring Credit Reporting Agencies 95

CreditStrong for Business

SEPTEMBER 12, 2024

A credit repair company will dispute any negative information that was incorrectly reported on your behalf with the intent of having the adverse entry deleted or modified in a way that reflects favorably on the consumer. Experian states how some unscrupulous companies in the past tarnished the credit repair industry’s reputation.

Collector 52

Collector Credit Scoring Bankruptcy Credit Reporting Agencies 52

Lendio

DECEMBER 14, 2022

When you apply for a business loan, many commercial lenders will review your credit history to get a sense of how you’ve handled debt in the past. Reviewing previous credit history and checking your credit scores helps lenders predict risk. Most lenders that issue ACH loans require a minimum credit score of 500 to 625.

Credit Scoring 98

Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 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. Credit Limit Highest Amount of Credit Used (during last 12 months) Account Opening Date Total Amount Owed Past-Due Balance (if applicable) Day Beyond Terms (past and present) Date of Last Sale Payment Method (i.e.,

Credit Scoring 40

Credit Scoring Credit Reporting Agencies Credit Application Credit Risk 40

Lendio

AUGUST 20, 2024

Boost and build your credit score As with any credit card, when you make payments on time, your credit rating improves quickly. Building business credit is crucial to qualifying for better rates and terms on business loans. The better the credit score, the better the loan offers you’ll receive.

Credit Scoring 52

Credit Scoring Transactions Small Businesses 52

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. Here’s a closer look at FICO SBSS scores, why they matter, and how you can improve yours.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Bankruptcy 98

Due

APRIL 2, 2024

Bankruptcy will likely exacerbate any credit issues, causing an initial drop of about 100 to 200 points in your credit score. Getting on top of your financial woes and rebuilding credit as soon as possible is vital to financial recovery. Hence, in the process of rebuilding your credit, you cannot afford a late payment.

Credit Scoring 72

Credit Scoring Bankruptcy Credit and Collections Chapter 7 72

CreditStrong for Business

SEPTEMBER 17, 2024

You know your credit score plays a big part in this but what about your credit history, debt to income ratio, additional assets, and employment status? Credit Score The credit score requirements depend on which type of loan you choose as well as which lender you decide to work with. 50% to 3.6%

Credit Scoring 52

Credit Scoring Bankruptcy 52

tillful

MARCH 8, 2023

Over the past two decades, the financial services industry has been gravitating towards a more comprehensive approach to credit risk assessment. Credit scoring models alone don’t tell the whole story, so companies are looking to alternative credit data to fill in the gaps. Here are a few examples.

Credit Scoring 59

Credit Scoring Credit Reporting Agencies Bankruptcy Default 59

Lendio

APRIL 23, 2024

When you apply for a business loan, many commercial lenders will review your credit history to get a sense of how you’ve handled debt in the past. Reviewing previous credit history and checking your credit scores helps lenders predict risk. Most lenders that issue ACH loans require a minimum credit score of 500 to 625.

Credit Scoring 52

Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 52

Due

MARCH 23, 2024

Back then, you built your credit in anticipation of applying for credit cards, buying a home, leasing a car, taking out loans, etc. Without a good credit score and excellent credit history , you would not be able to achieve all of that. Hopefully, you kept at it to build and maintain a great credit score.

Credit Scoring 105

Credit Scoring Insurance Companies Bankruptcy 105

CreditStrong for Business

NOVEMBER 7, 2024

Those with a positive credit history and good credit score are most likely to qualify for the most desirable credit card accounts with lower interest rates. Credit card accounts also allow borrowers the flexibility of paying back over time. How Do They Impact Your Credit Score?

Automobile Dealerships 40

Automobile Dealerships Credit Scoring Credit and Collections Credit Card Payments 40

CreditStrong for Business

AUGUST 16, 2024

Maintaining a strong business credit score is a long-term process. Yet when you’re first getting started, it may be possible to establish business credit quickly. You might be able to build business credit in 30 days or less with some business credit bureaus. You can register for a DUNS Number online at dnb.com.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit Card Companies Default 52

Your Virtual Credit Manager

AUGUST 27, 2024

This should be assessed in respect to the level of exposure your customer, including related entities, presents to your entire AR portfolio as well as in relation to their peer group. Don’t limit your assessment of customer risk to the present moment. What is, or will be, your firm’s level of exposure to this account?

Accounts Receivable (AR) 100

Accounts Receivable (AR) Credit and Collections Default Cybersecurity 100

Credibly

OCTOBER 2, 2024

Your guide to qualifications: Credit scores, down payments, and more Business loan tips: Easiest way to get a business loan What sources of capital are best for business? This means reviewing both your business and personal credit scores to understand how lenders might perceive your risk. Get your finances in order.

Credit Scoring 52

Credit Scoring Small Businesses 52

Due

FEBRUARY 6, 2023

Having an emergency savings account is one of the most crucial ways to prevent credit card debt from building up. As a result, this prevents harming your credit score or even bankruptcy. Understand credit scores. Your credit score will be pulled instead,” adds John.

Credit Scoring 115

Credit Scoring Default Bankruptcy 115

Due

MARCH 14, 2023

Holding a large amount of debt presents additional financial challenges , and making a plan to efficiently eliminate debt goes a long way in taking control of your financial situation. Unrecognized credit inquiries could indicate that someone applied for a new account in your name so be sure to act swiftly if this is the case.

Credit Scoring 124

Credit Scoring Small Businesses 124

Lendio

AUGUST 8, 2024

Funding amount: Up to $5 million- General; Up to $150,000- BOLT Term length: Up to 25 years- General; Up to 10 years – BOLT Minimum credit score: 675 – General; 700-BOLT Time to funding: 2 weeks – General; A few days – BOLT Best for a comprehensive business solution. Minimum credit score: 650.

Credit Scoring 52

Credit Scoring Nonprofit Organizations Small Businesses Credit Unions 52

FICO Blog

APRIL 11, 2023

Here we present results of our research into FICO® Score dynamics for holders of student loan debt between 2021 and 2022, to give an indication of key factors that seem to accompany large decreases in the FICO Scores of this population. had a credit score change within +/- 19 points.

Credit Scoring 52

Credit Scoring 52

FICO Blog

APRIL 11, 2023

Here we present results of our research into FICO® Score dynamics for holders of student loan debt between 2021 and 2022, to give an indication of key factors that seem to accompany large decreases in the FICO Scores of this population. had a credit score change within +/- 19 points.

Credit Scoring 52

Credit Scoring Credit and Collections 52

Your Virtual Credit Manager

MARCH 28, 2023

Volumes have been written about the criteria you should use to make a credit decision. The rigor with which this information is often presented belies the fact most business credit decisions are not that difficult. There is a challenge, however, with the 20 to 30 percent of credit decisions that fall in between.

Credit Scoring 130

Credit Scoring Credit Application Bad Debt Credit Risk 130

CreditStrong for Business

OCTOBER 11, 2024

Presenting a professional image to your customers is a top priority too. Virtual addresses help you present a professional image too. Your business credit scores are a record of how responsible your business is with finances. Opening a business bank account is a key step to build business credit.

Credit Scoring 52

Credit Scoring Small Businesses 52

Lendio

NOVEMBER 10, 2023

While each individual lender may have their own specific requirements, here are some general factors that can impact your eligibility: Good personal and business credit score – Your credit score is an important factor that lenders consider when evaluating your loan application.

Credit Scoring 96

Credit Scoring Credit Unions Small Businesses 96

Lendio

NOVEMBER 9, 2023

Lenders consider the following requirements when evaluating a potential small business owner for a business loan: Credit score Revenue Time in business Collateral/Personal guarantee Business plan Industry, geography, and company size Financial documentation 1. Start by paying bills promptly, as late payments harm your score.

Credit Scoring 52

Credit Scoring Default Small Businesses 52

CreditStrong for Business

AUGUST 30, 2024

Solid revenues, profitability, good credit scores, and length of time in business are all driving forces behind what minimizes the credit risk for a lender. Even if you’re a small business owner in a low-risk industry you’ll still face difficulty finding financing with bad credit history.

Credit Scoring 52

Credit Scoring Credit and Collections Insurance Companies Credit Risk 52

tillful

JANUARY 11, 2023

Credit is a fundamental business tool that allows companies of all sizes to keep operations running smoothly, invest in expansion, and work with their partners and vendors. Traditional business credit scores work off key indicators that they’ve determined to accurately reflect a company’s financial strength and creditworthiness.

Credit Scoring 52

Credit Scoring Credit and Collections Bankruptcy Credit Risk 52

MNS Credit Management Group

AUGUST 31, 2022

Despite the fact that a business credit report can provide important information about a company’s financial health, many businesses aren’t fully aware of what it is. This business credit score shows that you have good money management skills and the ability to pay back any loans you obtain on time.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Bankruptcy Default 52

Due

OCTOBER 9, 2024

The distribution of wealth is more evident in Toronto, as more high-end transactions and custom designs to build homes in the city are becoming increasingly present in neighborhoods such as Lawrence Park, Rosedale, Forrest Hill, Hog’s Hollow, and Bridal Path, which have seen listings of $10 million or more.

Credit Scoring 52

Credit Scoring Medical Billing Default Transactions 52