Wells Fargo will periodically review your account to see if your growing
business credit profile qualifies for an unsecured business credit card.
Not exact matches
So, a new
business with only a year or two under their belt with a weak
business credit profile or a
business owner with a low personal
credit score, will likely not
qualify.
Your personal
credit score,
business credit profile, cash flow, time in
business, annual revenue, and several other factors are all considered by lenders to determine the funds and terms you will
qualify for.
For example, by looking at the overall health of your
business, your cash flow, and your personal and
business credit profile, you might even
qualify for more than you would with a traditionally collateralized loan.
If your
business has sufficient cash flow to support a loan payment, you haven't declared bankruptcy in the last 12 - 24 months, and you're current with your personal
credit obligations like rent or a mortgage for the last year, you may be able to
qualify for a loan with a non-profit lender even if you have a less - than - perfect
credit profile.
Qualifying for a
business credit card may be easier than a traditional loan and could make it possible for a
business owner who has not yet established a strong
business credit profile or don't have sufficient revenue to
qualify for a small
business loan (provided you have a strong personal
credit history).
A new
business without an established
business credit profile or a
business owner with a low personal
credit score will likely have a difficult time
qualifying for a LOC.
Because there is no specified collateral associated with this type of
credit line, the
business will likely need a stronger
credit profile along with a positive
business track record to
qualify.
However, if your
business has a less - than - stellar
credit profile, it may be difficult to
qualify for Balboa Capital's more lucrative offerings.
If your
business has sufficient cash flow to support a loan payment, you haven't declared bankruptcy in the last 12 - 24 months, and you're current with your personal
credit obligations like rent or a mortgage for the last year, you may be able to
qualify for a loan with a non-profit lender even if you have a less - than - perfect
credit profile.
Your personal
credit score,
business credit profile, cash flow, time in
business, annual revenue, and several other factors are all considered by lenders to determine the funds and terms you will
qualify for.
So, a new
business with only a year or two under their belt with a weak
business credit profile or a
business owner with a low personal
credit score, will likely not
qualify.
This is because National Funding places more emphasis on your
business's ability to repay its debts than its
credit profile, which helps applicants with fair to average
credit scores
qualify for funding.
While your personal
credit score and
business credit profile express different information about you and your
business, both have a substantial impact on the options available to your
business and your ability to
qualify for a loan.
Because there is no specified collateral associated with this type of
credit line, the
business will likely need a stronger
credit profile along with a positive
business track record to
qualify.
A new
business without an established
business credit profile or a
business owner with a low personal
credit score will likely have a difficult time
qualifying for a LOC.
Your
business will need an established
business credit profile to
qualify for many
credit products, including many
business loans.