Sentences with phrase «business credit scores tend»

Unlike consumer credit, which largely revolves around a fairly standardized credit ranking system, business credit scores tend to vary based on the reporting company or bureau.

Not exact matches

Although it's true that some lenders tend to weight the value of your personal score higher than others (banks and other traditional lenders fall into this category) when they evaluate your business loan application, most lenders include a review of your personal credit score when they evaluate your business» creditworthiness.

This tends to be the more attractive type of business credit lines to business owners for obvious reasons, however, they are much more risky for the lender, therefore your credit score must be excellent.

Although it's true that some lenders tend to weight the value of your personal score higher than others (banks and other traditional lenders fall into this category) when they evaluate your business loan application, most lenders include a review of your personal credit score when they evaluate your business» creditworthiness.

Additionally, payment history can make up 50 — 100 % of your business credit score, depending on which scoring model is being used, so overall it tends to be a more significant factor with business credit than with personal.