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? Quick Reminder.

Credit Scoring 74

Credit Scoring Credit and Collections Bankruptcy Small Businesses 74

RevCycle

DECEMBER 7, 2023

Utilize payment gateways: Integrate secure payment gateways into your website or invoicing system for seamless online transactions. Utilize credit scoring tools: Leverage credit scoring tools to assess customer creditworthiness and prioritize your collection efforts.

Alternative Payment Methods 179

Alternative Payment Methods Credit and Collections Credit Scoring Payment Portals 179

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. The card comes with zero liability protection, no annual fee, and no foreign transaction fees.

Credit Scoring 52

Credit Scoring Credit Unions Default Credit Card Companies 52

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

Fundera

DECEMBER 20, 2018

What Is a Paydex Score? A Paydex score is a proprietary business credit score generated by Dun & Bradstreet. The score determines your business’s creditworthiness, or how promptly you repay your vendors and suppliers. Scores range from 1 to 100. Paydex Score Defined.

Credit Scoring 57

Credit Scoring Insurance Companies Transactions Small Businesses 57

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). How about 75?

Credit Scoring 52

Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 52

Your Virtual Credit Manager

DECEMBER 27, 2022

Because creditworthiness is complex, credit grantors consider a variety of factors when making credit decisions, including: Financial history: A business's credit and financial history, including their payment record and credit score, is an important factor in determining creditworthiness.

Credit Scoring 130

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

Prosper

JANUARY 13, 2023

How do you establish or rebuild good credit? Why is carrying a balance and using credit not so bad after all? Why is it important to use your credit card responsibly, and what types of transactions should you avoid? Credit Basics. Credit Bureaus and Credit Scores. Credit card and loan bills.

Credit Scoring 98

Credit Scoring Credit and Collections Bankruptcy Nonprofit Organizations 98

Due

JUNE 15, 2023

Impacted Credit Score I was unaware of the fact that the credit utilization ratio of the user is an important metric of credit score calculation. Ideally, I should have stayed between 30% credit utilization, but I maxed out the card, which could significantly impact Max’s credit score.

Credit Scoring 105

Credit Scoring Transactions 105

Fundera

OCTOBER 9, 2015

For most lenders, you’ll mostly just need to complete an application, have them check your credit score, and show them a few months of business bank statements. All of this is pretty straightforward, but let’s talk real quick about credit scores: Business Credit Scores. Personal Credit Scores.

Credit Scoring 102

Credit Scoring Small Businesses Dashboards Transactions 102

The Red Spectrum

JUNE 12, 2023

They will look at your credit score, payment history, utilization ratio, balance transfers, cash advances, and other transactions. Credit History Banks will assess your credit history to see how long you have been using credit and how reliable you are as a borrower. You Learn, We Report, and You Grow.

Credit Scoring 96

Credit Scoring Transactions Default Small Businesses 96

The Red Spectrum

MAY 8, 2023

The Importance of a Good Credit Score Having a good credit score is essential for any small business seeking financing. Credit scores provide lenders with an indication of how likely a borrower is to repay a loan. In 2023, lenders are likely to place even more emphasis on credit scores.

Small Businesses 98

Small Businesses Credit Scoring Credit and Collections Transactions 98

Fundera

SEPTEMBER 27, 2016

But if you go over your spending limit, your transaction could be declined or you could be charged for it. Step 2: Look up your credit score. The next step for how to get a business credit card? See where your credit score stands. Use Your Business Credit Card Responsibly. The Next Step?

Credit Scoring 101

Credit Scoring Credit Card Companies Small Businesses Transactions 101

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

CreditStrong for Business

SEPTEMBER 6, 2024

You can build credit, grow your revenues, and shop around before settling down on your best offer. Step 2: Check Your Credit Scores and Reports Your current creditworthiness is another factor to consider when narrowing down your potential startup financing options.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Credit Unions 98

Gaviti

OCTOBER 23, 2023

One possibility is by running a business credit score and report on new customers. What is a Business Credit Score and Report? A business credit score is a rating whose goal is to demonstrate how financially responsible a business is as well as its potential for profitability.

Credit Scoring 97

Credit Scoring Credit and Collections Credit Application Bankruptcy 97

SAP Credit Management

JANUARY 17, 2023

A bank would use RPA to generate a credit card transaction report that would show all transactions made by a customer in one day. Generating reports on transactions processed. In the past, one of the key challenges for fraud detection was the high volume of transactions that are happening daily.

Investment Firms 120

Investment Firms Transactions Credit Scoring 120

Due

JULY 4, 2023

It’s not uncommon to hear horror stories about ruined credit scores caused by credit card debt. After all, It’s important to remember that using credit cards comes with some risks, and you may be nervous if this is your first time using one. Most notably, falling into credit card debt.

Credit Card Companies 103

Credit Card Companies Credit Scoring Transactions Credit Unions 103

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

CommandCredit

OCTOBER 25, 2021

Whether you are looking to take out a business loan, asking your suppliers or vendors for credit, or just curious about your business credit score , you should check your business credit report to see how others view your creditworthiness. Factors Credit Agencies Use to Create Business Credit Scores.

Credit Scoring 40

Credit Scoring Credit Reporting Agencies Credit and Collections Bankruptcy 40

Fundera

OCTOBER 20, 2019

Get a handle on your personal and business credit scores. We’ll break down need-to-know accounting terms, how to handle your credit scores, how to apply for a business loan, and more—so that you’ll have all the information you need to manage your small business finances. Included transactions.

Small Businesses 101

Small Businesses Credit Scoring Credit and Collections Default 101

Fundera

JUNE 13, 2018

Similarly, in cases of business bankruptcy in which you don’t have a separately established business entity, your personal credit score will tank along with your business credit score (if you have one—more on that below). The Next (Also Simple) Step Is a Dedicated Business Credit Card.

Credit Scoring 94

Credit Scoring Credit and Collections Business Bankruptcy Bankruptcy 94

Due

JANUARY 3, 2023

Often referred to as credit reporting agencies, these companies work independently. Credit Reports vs. Credit Scores. Your credit scores are also influenced by your credit reports. The reason for this is that credit scores are calculated using information from your credit report.

Credit Scoring 119

Credit Scoring Bankruptcy Credit and Collections Credit Reporting Agencies 119

The Red Spectrum

APRIL 12, 2023

Understanding Net 30 Payment Terms Net 30 payment terms are commonly used in business-to-business (B2B) transactions, and they offer several advantages and disadvantages for both the supplier and the customer. Q: What factors should businesses consider before negotiating payment terms?

Credit Scoring 98

Credit Scoring Credit and Collections Credit Risk Credit Management 98

Lendio

JANUARY 6, 2023

Credit score and credit history (business and personal). More established businesses with good credit, higher revenues, and lower overall risk profiles can typically borrow more money and qualify for better loan terms. With business loans, APR includes both interest charges and all relevant transaction fees.

Credit Scoring 93

Credit Scoring Small Businesses Transactions 93

Lendio

OCTOBER 17, 2023

Credit score – As part of the process, the lender will pull your credit report to see your overall financial health. If you’ve been in business for some time, a lender may also look at your business’ credit report. If you haven’t checked your business credit score before, check out this guide to learn more.

Credit Scoring 98

Credit Scoring Credit Unions Small Businesses Transactions 98

Fundera

OCTOBER 6, 2016

According to Kabbage, you need to be in business for a year and generate over $50,000 a year in revenue to be considered for a line of credit. There’s no minimum credit score or business size to consider. Note that, like many lending institutions, Kabbage doesn’t extend credit to non-profits or to other lending companies.

Credit Scoring 84

Credit Scoring Transactions Small Businesses 84

Due

DECEMBER 14, 2022

For example, the American Express® Gold Card offers a $120 dining credit ($10 statement credit every month) at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar, and Shake Shack. Using Acorns, you can set aside spare change on every credit or debit card transaction into a savings account.

Credit Scoring 110

Credit Scoring Bankruptcy Deductions Transactions 110

Lendio

JANUARY 11, 2023

Historically, merchant cash advances have been used by newer and smaller small businesses that may have a more difficult time qualifying due to a short time in business or low credit score. Won’t Appear on a Credit Report: Due to the unique structure of a merchant cash advance payment, it’s actually considered a sales transaction.

Credit Scoring 97

Credit Scoring Transactions Small Businesses Deductions 97

Due

FEBRUARY 28, 2023

It doesn’t matter whether you want an expense tracker app that captures all your transaction data easily, an expense tracking app that automates your job expense reporting process, or one that requires you to manually enter each transaction, there are apps out there for everyone. Practice good credit habits.

Credit Scoring 98

Credit Scoring Transactions 98

Due

APRIL 25, 2023

Cyber security has become more critical with the exponential growth of online transactions and e-commerce. Hackers across the globe try to invade your privacy in different manners, and one of the most crucial areas they entice is credit card info. You should monitor all your transactions sensibly to avoid being a victim of phishing.

Credit Card Companies 109

Credit Card Companies Credit Scoring Credit Reporting Agencies Transactions 109

Fundera

NOVEMBER 4, 2015

How will my credit impact my small business lending options? When you go to apply for a business loan, you may be surprised to learn that your personal credit score is one of the most important factors in determining your loan eligibility! If your credit score is 700 or above—congratulations! Yes, right now!

Small Businesses 97

Small Businesses Credit Scoring Credit and Collections Default 97

The Red Spectrum

MAY 2, 2023

Look for Expense Management Tools Many small business credit cards offer expense management tools to help you track expenses and streamline accounting processes. Look for cards that provide features such as transaction categorization, receipt capture, and integration with accounting software.

Small Businesses 71

Small Businesses Credit Scoring Transactions 71

Fundera

APRIL 2, 2020

A good business credit card is a must for any business owner—it gives you cash flow flexibility, allows you to accrue benefits and bonuses that you can reinvest into your venture, and helps you build your business credit score. It also has no annual fee and provides fraud protection against unauthorized transactions.

Credit Scoring 90

Credit Scoring Small Businesses Transactions 90

Fundera

NOVEMBER 4, 2019

All of this being said, however, it’s important to understand one crucial thing about business credit cards—especially as a new business with no credit history. Credit Score Threshold. There are a handful of business credit cards for fair credit —including those with rewards programs and other benefits.

Credit Scoring 81

Credit Scoring Transactions Small Businesses 81

Due

SEPTEMBER 30, 2023

Merchant Fees Merchant fees, or credit card processing fees , are a percentage of each transaction charged by a merchant service (such as VISA, MasterCard, or American Express) to a vendor for processing credit card transactions. Additionally, when the transactions are processed can affect the fee.

Small Businesses 119

Small Businesses Transactions Deductions Credit Scoring 119