The 5 C’s of credit are character, capacity, capital, conditions, and collateral. Together, these serve as a way for lenders to evaluate the creditworthiness of potential borrowers. Banks and lenders generally look at your ability to repay, level of debt, how you plan to use the funds, and the collateral you have to offer. The…
About the Author
Jordan Tarver
Jordan Tarver is a Junior Writer at Fit Small Business, focusing on credit cards and bank accounts. Before his time at Fit Small Business, Jordan was working in the mortgage industry as an Account Manager and Pricing Analyst for a wholesale lender. Jordan has a passion for photography, the outdoors, and documenting stories about his travels.
An Interview with Levi King, Co-Founder & CEO of Nav
We had the opportunity to sit down with Nav’s CEO, Levi King, to ask him some questions about his company and market changes. Specifically, we discussed his connection to the Small Business Borrowers’ Bill of Rights, new players in the small business lending market, emerging trends he expects for 2019, and how business owners can…
How to Pull a Business Credit Report & Decipher It
A business credit report is a record of a business’s financial history, allowing others to determine a business’s creditworthiness. The information from the credit report is used to calculate a business credit score. Business credit reports can be pulled from Dun & Bradstreet (D&B), Experian, Equifax, and FICO for a cost of $50 to $230….
How to Check Your Personal & Business Credit Scores for Free
Both personal and business credit scores affect your ability to get approved for loans. You can check credit scores for free online through a number of different credit card issuers. Individuals can also receive one free credit report per year from each credit reporting agency through AnnualCreditReport.com. However, this does not include credit scores. Nav…
Business Credit Scores & Credit Rating Scales
A business credit score is a measure of your company’s financial health and credit history. Lenders use the score to assess your company’s ability to make payments on time. The information used to calculate your business credit score includes payment history and industry information, which can be seen by your vendors, suppliers, lenders, and creditors….
Hard vs. Soft Credit Checks & Their Affect on Credit Scores
A hard credit check negatively impacts your credit score compared to a soft credit check, which has no impact. Hard credit checks typically occur when you apply for a loan or credit card. A soft credit check occurs when your credit report is pulled for a background check, like when you check your credit score….
How to Build Business Credit Score in 7 Steps
A business credit score is a calculation that represents your ability to repay debt obligations. Every small business owner should know how to build business credit and improve their business credit score. A good business credit score can be the ticket to a business loan or favorable terms when you purchase goods and services from…
Guide to Credit Card Stacking and Using It to Fund Your Startup
With credit card stacking, multiple credit cards act together as an unsecured business line of credit. With typical annual fees of $50 to $100 and APRs of 15 percent to 25 percent, this is relatively inexpensive. Business owners with credit scores of 680+ can use credit card stacking as an alternative working capital funding source….
