Top 5 Reasons Why Your Credit Score Matters

Strategy Driven

If you’ve been trying to get your finances in order lately, you may be looking for the best way to see credit score to help you gauge your current creditworthiness. It may surprise you to learn that your credit score can actually affect your insurance costs.

8 Powerful Strategies to Improve Your Credit Score

Women on Business

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Why Your Credit Score Matters as a Small Business Owner

Women on Business

Finance Women On Business Sponsors credit scoreWe've Moved! Update your Reader Now. This feed has moved to: [link] If you haven't already done so, update your reader now with this changed subscription address to get your latest updates from us. link].

Why You Should Improve Your Business Credit Score

Strategy Driven

When did you last check your business credit score? Most business owners know that a personal credit score is important but many have never given their business score a thought. According to Experian, 59% of small business owners have never checked their commercial credit score. And of those that had, 56% had not checked their score within the past six months. Most people do not know what a credit score is or how it works.

How Your Personal Credit Score Could Affect Your Business

Strategy Driven

While your business and you can be two different entities, your personal credit score can affect your ability to do business in a wide variety of ways. Most institutional lenders will look at your personal credit score first if you haven’t had the time to build your business’s credit, which could make getting capital early on very difficult. Why is My Personal Credit Score So Important? What Can I do to Repair my Credit?

How a Good Credit Score Can Benefit You as an Entrepreneur

Women on Business

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How to Get a Better Credit Score

Women on Business

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8 Steps to Building Your Business Credit

Strategy Driven

And the ability to secure finance is often directly related to the business’s credit score. But it’s often a challenge for small businesses to establish their credit when they have nothing to show for it. However, there are some things any new small business owner can do to boost their credit and get access to more financing options. Here are the exact steps you should follow to boost your business’s credit score. Open Multiple Credit Accounts.

Tips to Reduce Loan Burdens

Strategy Driven

It can be an unpaid electricity bill, a telephone bill, an insurance bill, but also loans you have taken out, such as a car loan, home loan or any other type of consumer credit. Calculate your credit score to be sure of what you have on your plate. Make a credit buyout. As the name suggests, buying back credit allows you to redeem one or more of your current credits. Go for a credit consolidation.

8 Steps to Building Your Business Credit

Strategy Driven

And the ability to secure finance is often directly related to the business’s credit score. But it’s often a challenge for small businesses to establish their credit when they have nothing to show for it. However, there are some things any new small business owner can do to boost their credit and get access to more financing options. Here are the exact steps you should follow to boost your business’s credit score. Open Multiple Credit Accounts.

Reasons to Gloat If Your Credit Score Is High

Harvard Business Review

People with higher credit scores tend to be less impulsive, better at delaying rewards, and more trustworthy than those with lower scores, according to a study of 63 university students and employees by Shweta Arya, Catherine Eckel, and Colin Wichman of the University of Texas at Dallas; the study included a survey and a set of tasks and games. Fair Isaac credit scores are calculated on a scale from 300 to 850 , with the U.S.

What Is Bad Credit and How Can It Affect You?

Strategy Driven

Having a bad credit score is something nearly 68 million Americans have to deal with. Your credit score is a way for lenders to see how much risk is associated with lending you money or approving you for a line of credit. The lower your credit score is, the harder it will be to get the financial tools needed to prosper. Read below to find out more about how bad credit can affect your life.

5 Common Finance Mistakes to Avoid for Small Businesses

Strategy Driven

Ignoring Your Business Credit Score. Like your personal credit score, your business credit score is an instant indicator to lenders and investors of how well you manage your business finances. Having a good business credit score can be the difference between receiving funding to grow your business and being denied. It’s important to maintain a great business credit score so you can have another option for funding your business.

Common Financial Problems Start-Ups Face And How to Solve Them

Strategy Driven

Bad Credit Scores. One of the greatest stumbling blocks for entrepreneurs looking to start up a business is their credit score. A bad credit score can make it increasingly difficult to get loans to increase the funding for your business, among other important aspects. However, a bad credit score is not permanent, and there are procedures that you can follow to increase your credit score, such as bad credit loans.

Why So Many Different Loan Types Exist

Strategy Driven

When it comes to capital one, a small business line of credit means you only have to pay back what you use. If the credit just sits in a bank account, there’s no interest added and no need to give it back. Similarly, if you have a credit card, you’re likely to spend and keep on spending as it’s a popular method of payment and it seems everyone has one. Because Credit Scores Vary. As someone in business or not, you have at least one credit score.

How to Build Business Credit Speedily in 14 Painless Steps

Miles Anthony Smith

How to Build Business Credit Fast in 14 Painless Steps in 2019 & Beyond Note: This post was written in collaboration with Nathan Grant, a Credit Industry Analyst from Credit Card Insider. When you are a business owner, you should want to build good credit for your business and build it fast, right? With great business credit comes a host of benefits, saving you a ton of time and money. READ MORE We are going to dive into how to build business credit.

Health and Well-Being in the Workplace

Lead Change Blog

The programs can cover credit scores, retirement planning, investments, and mortgage application. Employees are no longer just motivated by a paycheck. Those who are there just for the money will usually work inefficiently. To improve employee morale and health, you can consider implementing these tips. Encourage Employees to Work Out. As a leader, you should encourage your employees to exercise during working hours.

5 Facts Everyone Should Know About Home Loans Before Applying

Strategy Driven

Whether through a bank or a credit union, like Rivermark Community Credit Union, home loans are a necessary step for homeownership. Before you look into applying for credit union home loans, there are important things to keep in mind. The chief purpose of FHA-backed loans is to make it easier for people with lower incomes to afford bank and credit union home loans. Even credit card debts or other accounts in collections can be acceptable by home loan underwriters.

Things to Consider Before Applying for Personal Loans

Strategy Driven

When a person applies for a personal loan, the bank or the lender is bound to collect their financial history and credit report. Such reports are treated as hard inquiries at the Credit Report Bureau, which reduces the credit score by a few points. Multiple lenders tend to reduce the score, eventually reducing the chances of receiving the loan on time. So, always apply with a good credit score to the least number of banks.

Do You Need Good Credit to Start A Business?

Strategy Driven

We all know that many entrepreneurs have bad credit score. Moreover, some go through personal difficulties which affect their personal credit score at the same time. Do you need good credit to start a business? While having a bad credit should never be a hindrance for you to start your own business. Improving your credit score allows you to get loans or business line of credit that you can use to build your business.

Starting Business in Canada? Basic Tips to Follow

Strategy Driven

Build Your Credit Score. If you are new to Canada, you may not have a credit history that banks can rely on to lend you the money for your startup. There are several fast ways to build up your credit score. One of them is to build up your borrowing potential by signing up for a credit card. Make sure you use it with responsibility and in six months your credit score will slowly start to develop.

Understanding Hard Money Business Purpose Use Loan and The Benefits for Investors

Strategy Driven

New businesses and businesses with low credit scores. Hard money lender can look beyond your financial or credit shortfalls which is what makes them different from a bank. Why a buyer has credit issues. New businesses or businesses with low credit scores are highly likely to get approved for the loan. Unlike traditional lenders, hard money lenders do not give too much importance to a credit score when qualifying applicants.

Is Taking a Small Business Loan Worth It?

Strategy Driven

For Better Credit Prospects. If you have the vision to turn your SME into a large-scale commercial operation, then you are definitely aware of the line of credits and how important they are for the sustenance of big companies. However, it should be kept in mind that financial institutions don’t just dole out lines of credit to everyone. A business with no lending and credit history can’t apply for a line of credit. With a Low Credit Score.

4 Screening Tests for Employees That Management Should Consider

Strategy Driven

Financial Credit Check. A financial credit check is something that every employer should do for each employee or job applicant on a second or third interview for a position. For someone who’ll work in the finance department or handle confidential business information that the company wouldn’t want to be available to the highest bidder, a worrying credit score is a concern.

Unsecured Business Loans: A Comprehensive Guide

Strategy Driven

To get this type of loan all you need to do is apply for financing and also have a good credit score. Another option that works best for short term financing resolutions is an unsecured business line of credit that is indeed a more adaptable finance choice, which is perfect for numerous purposes. Many companies that want to create a good credit rating so that they can prepare their business for a much bigger loan in the future also use this type of loan.

All You Need to Know About Unsecured Business Loans

Strategy Driven

In secured business loan when you go to a bank or any other loan provider you have to put your tangible asset on stake (as a guarantee) to get the loan but in unsecured business loan, you don’t have to put your asset (which is commonly known as collateral) as a guarantee instead of the bank see your credit history and provide you a loan on the credibility that you have given them written promise that you will return this money.

Tips on Starting a Business Before Gaining US Citizenship

Strategy Driven

In many ways, getting business credit is even harder than building personal credit. In fact, business credit is largely based on personal business credit scores, and if you are a non-U.S. citizen, your credit file is going to be fairly sparse. Most people can do business in the United States, whether they are located or based abroad or not. However, there are advantages that come with owning a U.S. based business.

The 5 Easiest Ways to Build Business Credit

Women on Business

However, if your company can build business credit, you will find yourself gaining more opportunities to access cash. Whatever you do, don’t operate your business on your personal credit. Not only does it make your personal finances vulnerable, but business credit is a much more powerful tool professionally than personal credit. Make the financially fit decision Use these 5 quick tips to start building business credit today.

6 Practical Strategies to Take Care of your Financial Future.

Strategy Driven

Manage your credit cards. Do you manage all your bills or make purchases using a credit card? If you do, you are aware of the beauty and the technicalities of credit cards. Credit cards work best if you pay your balances on time and when you keep you’re spending at a low level. You are looking at increased interest rates, late payment fees, and credit damages. Remember, a bad credit score is a nightmare to your financial plans.

Should I Open a Private Dental Clinic?

Strategy Driven

However, your personal credit score could impact your ability to find adequate financing options. New and experienced dentists often wonder if they should open a private dental clinic. It’s a question without a clear answer but with the right facts in hand, you can arrive at an educated decision that’s right for you. It’s true that opening your own dental clinic offers unique advantages not found anywhere else.

What are the Best Working Capital Loan Options in 2019?

Strategy Driven

OnDeck: OnDeck offers working capital loans to borrowers with a minimum credit score of 680 with rates around 9%. It also offers a line of credit which has a repayment period from 6 months till one year. To qualify for OnDeck, you must have a credit score of at least 600 and must have a business history of one year. In order to qualify for LoanBuilder, you must have a credit score of at least 550 and above with gross revenue of at least $42,000.

Find High Acceptance Loans the Easy Way

Strategy Driven

One of the problems you may find is that some lenders will claim they can offer high acceptance even with poor credit and charge a fee to go through an application. The reason this is important is that some lenders who offer high acceptance rates may focus more on what you can afford than your credit rating. Although your credit score will play an integral part in the approval process, you need to be able to prove what you can afford.

Geting to Grips With Your New Business’s Finances

Strategy Driven

When you’re trying to be careful with your funds, and save wherever you can; you might think that getting yourself a credit card might be a bad idea. However, it’s worth getting one so that you’ll have a credit rating or score for you and your business. Without a credit score, it can be difficult to gain investment or receive a loan, and you’ll probably need these at some point to invest further in your company.

3 Ways To Successfully Attain Any Goal In Life.

Rich Gee Group

Ensure your credit score remains high to garner the best interest rate deal. home about rich our team news our fans services executive coach business coach speaking inspire media knowledge books affiliates contact Rich Gee Group 203.500.2421 3 Ways To Successfully Attain Any Goal In Life. You have grand designs on your future – unfortunately, you never meet your personal or professional goals. Why does that happen?

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5 Money Management Tips for Entrepreneurs

Strategy Driven

Something else that you should do on a personal level is to know what your credit score is. It means that knowing where you stand with regards to credit is essential. As an entrepreneur, you know how important money management is. Both inside and outside of the workplace, it can be the difference between struggling to make ends meet and paving your way for financial success. What’s more, it can be the difference between making and losing a profit.

Use Data to Fix the Small Business Lending Gap

Harvard Business

Access to credit is a key constraint for entrepreneurs. And limited credit is in part caused by the difficulty of predicting which small businesses will and won’t succeed. Today, community banks are being consolidated and larger banks are relying more and more on data-driven credit scoring to make small business loans—if they are making them at all.

What Do You Need to Get a Payday Loan: A List of the Requirements

Strategy Driven

They are a popular loan option for those with no credit or a bad credit score. If you’re in a financial bind and need a little cash before your next paycheck, a payday loan may be just what you need. Payday loans, also known as a cash advance, are gaining in popularity as a fast way to get quick cash for an emergency situation. Even so, many people don’t understand how this type of loan works and what you need to get a payday loan.

How to Start a Used Car Business

Strategy Driven

Your personal credit score and history will be considered when you apply, so make sure everything is in a positive state before you do. For some people, starting an independent used car business is the perfect combination of a love of cars and great business skills. Or, at the very least, a desire to develop great business skills. However, building a used car business from the ground up is not as simple as finding cars and selling them on.

How Credit Card Companies Make Their Money

Strategy Driven

You’ve likely experienced a fair amount of credit card companies trying to entice you via offers in the mail. When you consider the fact that the United States’ total credit debt reached $1 trillion in 2017, it becomes clear why: these credit cards are a massive source of revenue. On the surface, credit cards may seem like simple and convenient money and nothing more. It’s important to remain aware that credit card interest rates are commonly in the 20% range.

5 Money Management Tips for Entrepreneurs

Strategy Driven

Something else that you should do on a personal level is to know what your credit score is. It means that knowing where you stand with regards to credit is essential. As an entrepreneur, you know how important money management is. Both inside and outside of the workplace, it can be the difference between struggling to make ends meet and paving your way for financial success. What’s more, it can be the difference between making and losing a profit.

Online Small Business Loans

Strategy Driven

However, for you to qualify for BlueVine small business loans, you must have a minimum credit score of 600. OnDeck provides term loans and lines of credit for your small business. But you must have a credit score of 600, and your business must have been in operation for at least 12 months before the loan application. Kabbage loans fall within the lines of the credit category, with a minimum loan amount of $10, 000.

A Comprehensive Guide To Saving Money In Business

Strategy Driven

Improving cash flow within your business can reduce your need for loans and credit which come with interest, thus helping you to save money. Credit checking your customers can also help you to improve your cash flow and save money. If you work with a client with a bad credit score, you’d likely never get paid and end up losing out. Saving money in business can be done in numerous ways.

10 Incredibly Useful Things You Didn’t Know Emotional Artificial Intelligence Could Do

Game-Changer

Help banks determine who’s worthy of receiving credit. Though there are credit scores, there are many ways people game the system. Should everyone get credit? This was the year most every large company took notice of the rise of artificial intelligence.