Table of contents
1. Understand the Importance of a Good Credit Score
A credit score is a numerical expression based on an individual's credit transactions over their lifetime. It represents the “creditworthiness” of an individual, with the information behind your score coming directly from credit bureaus. Lenders, such as banks and credit card companies, use personal and business credit scores to evaluate the potential risk posed by lending money to an individual or organization. Good credit (670 to 739 FICO score) opens doors to the best interest rates on home loans, auto loans, and other lines of credit. It can also qualify you for premium rewards on credit cards or early repayment discounts on business loans. Alternatively, a bad credit score could disqualify you from favorable rates and terms, leaving you stuck with high-interest rates, collateral requirements, or other subprime offers. For this reason, it's important to prepare for credit score checks accordingly.-
1 year in business
- Even as a young, growing business, you can still find financing options
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$120K in annual revenue
- To qualify, your business must be generating a minimum of $10,000 monthly
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580+ Credit Score Require
- We have financing options for businesses with excellent and bad credit.
- Your payment history
- Your outstanding debts
- Length of your credit history
- Amount of credit accounts you own