Did your bank Decline Your Business Loan ? Here’s Why. Key Findings: 45% of small business owners who are denied financing get turned down more than once and 23% don’t know why their applications were denied. Small business owners who understand their business credit scores are 41% more likely to be approved when they apply…
No matter what type of business you operate, it is likely you will need to open a bank account to keep business income separate from personal or other types of income. A bank account in the name of the business gives transactions a certain legitimacy. Business bank accounts have different features, however, that depend upon…
It seems nearly impossible for a business to function without some form of credit. Credit options are readily available to any type of business, but there are two distinctive types: business credit and corporate credit. The obvious difference is the corporation status of the company, but the differences do not end there. Types of Credit…
This article was published on banking.about.com titled Business Credit Card Facts. The ‘facts’ listed might be true in some cases, however simply making sure your business is set up the way lenders want to see a company will prevent you from having to sign a personal guarantee. Using a business credit card can help you…
The article below was published by USNews Money. The New Complications of Business Credit Cards In case you didn’t know, May 12 through 16 is National Small Business Week. This new age “holiday” is perhaps best known for the festive discounts that consumers are afforded at small businesses nationwide, but it’s about much more than…
Brand new start-up businesses with no financials can qualify for a credit line up to $150,000. There are NO financials required, the lender won’t even look at your monthly revenue. For this program all that is needed is a 660 credit score or higher to qualify. Personal credit, and only personal credit is used to…