Sentences with phrase «current business credit score»

Before you apply for a business loan, find out your current business credit score, update any missing or incorrect information, and take steps toward improving it.

Not exact matches

Unlike your personal credit, it's not expressed in a fairly universal score, but rather is typically expressed in a series of reports that address how timely a business repays vendors who offer payment terms, their payment history with any current small business loans, industry information (including the overall creditworthiness of other businesses within that industry), and comparisons between the business and others within the same revenue class, size, number of employees, and the region where they do business.

Generally speaking, if your business can demonstrate an ability to make the periodic payments, you haven't declared bankruptcy in the last 12 - 24 months, and are current with your personal debt obligations, you may be able to qualify for a micro-loan from a non-profit lender even if you have a less - than - perfect personal credit score.

After looking at your current financial standing, your past handling of money (your credit score helps them determine this), and the amount of risk they assess for your child daycare business, they will either approve or deny your loan.

Unlike your personal credit, it's not expressed in a fairly universal score, but rather is typically expressed in a series of reports that address how timely a business repays vendors who offer payment terms, their payment history with any current small business loans, industry information (including the overall creditworthiness of other businesses within that industry), and comparisons between the business and others within the same revenue class, size, number of employees, and the region where they do business.

You will end up with a damaging blemish on your business credit reports that can hurt scores significantly and greatly impact your ability to secure a line of credit, business loan, increase insurance premiums, or even maintain relationships with your current suppliers and partners.

For example, two current credit lines with $ 100 credit limit each will improve your business score more than one credit line with a $ 10,000 limit.

Our hope is to continue to use our new credit score to increase credit lines in our business while also taking advantage of the buying and investment opportunities caused by the current economy.

As long as you stay current on your good debt — such as your mortgage, business loans and student loans — your credit score should start improving.

If they have a good enough credit score, their current lender may be inclined to drop the interest rate on the account to keep their business.