There is an inherent risk in lending to a startup, which is why unsecured business loans for startups are rare. Lenders typically protect themselves by requiring collateral. If you’re seeking an unsecured business loan, you should understand how they work, what your options are, and what the qualification requirements are before applying. The rates and…
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Need Financing? Understand the Dun & Bradstreet PAYDEX Score
Dun & Bradstreet’s (D&B) Paydex score is one of the most common business credit scores banks and lenders use to consider you for business loans, credit, and partnerships. This score is based on your company’s payment history to vendors and suppliers and ranges from 0 to 100, with 100 being the best you can score….
Fast Business Loans: 6 Best Quick Business Lenders 2021
Fast business loans are short-term financing options that make funds available in one to three business days. They’re best for businesses needing short-term working capital for payroll, inventory, and expenses. We compared the top providers according to their terms, costs, and qualifications and chose the top six fast business funding options. Top 6 Fast Business…
Experian Intelliscore Plus Ultimate Guide
The Experian Intelliscore Plus is a business credit score banks, lenders, and other companies use to evaluate your company’s creditworthiness. This business credit score predicts the likelihood your company will default or miss a payment and ranges from 1 to 100, with 100 being the best score possible. Maintaining a high Experian business credit score…
How to Get Unsecured Business Loans in 5 Steps
If you require an influx of capital for your business, a business loan can be a good option. However, if your business doesn’t have many assets, you’ll have to qualify for an unsecured loan, which is much more difficult than qualifying for a secured loan backed by property. Instead of collateral, unsecured loans use a…
Using a Home Equity Loan to Finance Your Business
Taking out a home equity loan (HEL) to finance your business is easier than getting traditional startup business loans. Individuals with equity in their home and strong personal credit can use a home equity loan for large one-time expenditures or other capital influx needs in the business. If you are considering using a home equity…
Business Loan Cosigner: When Should You Use One?
When taking out a business loan, a cosigner is a person who is willing to give the lender a personal guarantee to repay the loan in full. This increases your chances of getting an approval because the business loan cosigner becomes 100% liable for the loan in the event that you fail to make payments….
FICO SBSS: A Quick Guide With Everything You Need
The FICO LiquidCredit Small Business Scoring Service (SBSS) is the business version of the well-known consumer FICO credit score. The FICO SBSS score ranges from 0 to 300 and assesses your company’s ability to repay debt obligations. It’s an essential part of your business because it’s used by lenders and other interested parties to evaluate…
DUNS Number: What It Is & How to Get Yours
The DUNS Number is a numeric company identifier used to create and access your business credit report with Dun & Bradstreet (D&B). D&B is the most widely used business credit reporting agency, so it’s essential to understand how to get a DUNS Number if your business doesn’t already have one. Thankfully, you can request your…
Average Credit Card Debt Statistics In the US
The average American holds four credit cards, which isn’t surprising because credit cards are a handy way to finance purchases big and small—from groceries to big-ticket gadgets. However, far too often, Americans can’t afford their balances, miss payments, or get hit with interest charges. This results in these eight surprising average credit card debt statistics…
What Is Creditworthiness?
Creditworthiness is a measurement that banks and credit card issuers use to deem you worthy of credit based on financial markers. These markers can vary by company but are usually based on your income, credit score, assets, payment history, credit accounts, and credit utilization. Your creditworthiness is key to securing financial assets, so it’s in…
How to Build Business Credit in 6 Steps
A business credit score is an indicator of your business’s creditworthiness, which lenders and creditors use to determine your risk as a potential borrower. Scores typically range from 0 to 100 and are measured by the major business credit bureaus: Dun & Bradstreet, Equifax, and Experian. A good score can be the ticket to a…