Unlike the FICO Score, which leverages information solely from the consumer credit report,
small business credit scores consider multiple types of data from different sources.
Not exact matches
If you're a
small business owner, you have one more piece of information to
consider on top of your three different personal
credit scores.
Most traditional lenders won't offer a
small business loan to borrowers in this category and a 660
credit score is at the bottom threshold the SBA will typically
consider.
However, lenders may also
consider the owner's personal
credit score when
considering whether or not to extend
credit to a
small business.
If your
credit score falls below that threshold,
consider online
small -
business loans for borrowers with bad
credit or loans from a nonprofit microlender.
Plan carefully before opening multiple
small -
business credit cards — Multiple business cards may help your credit score and increase your rewards - earning potential, but first consider how you will manage them... (See Busines
business credit cards — Multiple
business cards may help your credit score and increase your rewards - earning potential, but first consider how you will manage them... (See Busines
business cards may help your
credit score and increase your rewards - earning potential, but first
consider how you will manage them... (See
BusinessBusiness cards)