When you’re ready to take out a loan to help fund your small business, it’s important to weigh the variables in order to make the best decision for your company. Here are four ways you can determine which financing option to choose.
When you’re ready to take out a loan to help fund your small business, it’s important to weigh the variables in order to make the best decision for your company. Here are four ways you can determine which financing option to choose.
Topics: Working Capital Loan, How To Obtain Working Capital, Small Business Loan, Financial Terms, Business Management, Small Business Owner
What Contributes to Bad Credit?
While many factors contribute to the definition of ‘bad credit’, the most important factor comes from your financial past.
Ask yourself:
Topics: Bad Credit, Working Capital Loan, How To Obtain Working Capital, Business Loan Bad Credit
If you’re a business owner who has bad credit, you should know that FICO scores between 300 and 629 are more common than you think. But many traditional lenders still view these low scores as a sign that you might default on your loan payments. According to the U.S. Small Business Administration, 63 percent of small business owners seek funding from big banks, but only about 27 percent succeed in getting a loan. If you’re a member of the majority who gets rejected, you still have options. There are more and more alternative lending sources available to business owners who have a less-than-great FICO score. There are also many work-arounds that allow you to borrow money or establish lines of credit for your business. Here are some that we recommend.
Topics: Business Loans, Bad Credit, How To Obtain Working Capital, Business Loan Bad Credit
Copyright © 2022 CMS Funding