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….
All Financing Articles - Page 19
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USDA Business Loans & Grants and Where to Apply
Six primary types of USDA business loans and grants are available to businesses in rural areas (populations under 50,000). Approved lenders typically offer up to $10 million for the most popular USDA B&I loan program, with interest rates of 6 percent to 9 percent, and repayment terms of up to 30 years. 6 USDA Business…
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Business Credit Cards Without A Personal Guarantee
Business credit cards with no personal guarantee do exist—if you can qualify for one. These cards reduce or eliminate an owner’s personal liability to repay card debt, but they typically are issued to businesses with at least $1 million to $4 million in annual revenues and one to two years or more of cash reserves….
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Top 18 Tips on How to Lower Credit Card Utilization From the Pros
Credit utilization is one of the most important components that make up your credit report. To have a good credit score, it’s essential to maintain a healthy credit utilization ratio. Ideally, your credit utilization ratio should remain at 30 percent or less. These industry experts shared their tips on how to lower credit card utilization….
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25 Small Business Credit Card Mistakes to Avoid From the Pros
Small business credit cards are an asset to your business if you know how to use them correctly. There are times, however, when small business owners misuse their business credit cards, which do them more harm than good. We spoke with the industry experts who identified several small business credit card mistakes to avoid. Below…
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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…
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28 Ways to Build Personal Credit from the Pros
Positive credit history is often required to get a business credit card, loan, lease, or establish vendor relationships. With so much of your business depending on credit, it’s very important to build strong personal credit. We spoke with the experts to find the best ways to build personal credit so it doesn’t limit your business….
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Top 21 Expert Tips on How to Earn Credit Card Points
Small business credit cards are an invaluable tool for entrepreneurs. They can help you manage cash flow, more effectively manage employee spending, and also earn you valuable reward points. To learn how to earn credit card points most effectively, we asked industry experts to share their best tips for business owners. Here are the 21…
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Top 21 Ways to Increase Your Business Line of Credit
A business line of credit is a great way to smooth your business’ operational expenses, including seasonal costs and one-time expenses. If you need a bigger amount of additional working capital, you’ll also need a higher credit line. We spoke with the experts who shared the different ways to increase your business line of credit….
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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….
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Increase Business Credit: 23 Expert-Tested Tips
Small businesses need to build their business credit because lenders and suppliers use your business credit score to determine your creditworthiness. Businesses with higher credit scores are more likely to get approved for credit with the best terms. We spoke with the experts who shared different tips to increase business credit for your business. The…
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How to Get a Small Business Loan in 4 Steps
Finding a small business loan is often a necessity during the growth of your business, but it can be difficult to find a loan you qualify for. The four basic steps for getting a small business loan involve evaluating your loan options, determining your eligibility, finding the right lender and applying for the right loan….
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