Small businesses are extremely important to our culture and our economy. In fact, small businesses make up a very significant portion of our economy. The financial success of America’s small businesses lies heavily on their ability to attain credit in order to maintain their business. It is shocking that nearly all small-businesses fail in their first months or years of business. One of the primary flaws of the way people run their businesses is being lax when is comes to book keeping and cash flows. However, taking some steps to alleviate and deter credit problems can ensure a continuous supply of capital and will almost ensure business success.
Entries from October 2008 ↓
Importance of Credit and Capital for Small Business
October 30th, 2008 — Business Credit, Business Credit Builder, Small Business, Sole Proprietorship, Trade Credit
We are in the midst of a once-in-a century credit tsunami!
October 24th, 2008 — Business Credit, Business Credit Builder, Business Financing
Former Federal Reserve Chairman Alan Greenspan told a House committee Thursday that the nation will emerge from the current credit crisis with a “far sounder financial system.” Continue reading →
How Personal Revolving Debt Affects Business Credit
October 20th, 2008 — Business Credit, Business Financing
Many business owners are shocked to find that their personal finances have such a large impact on their business’s ability to access credit. Revolving credit, in particular, can have an unexpected affect on any individual’s ability to access new lines of credit or business credit cards for their business. In fact, your individual ® * score can factor up to fifty percent into a lender’s decision to approve your business for credit or not.
VantageScore Versus FICO® *: How the New Credit Rating System May Affect Consumers
October 6th, 2008 — Business Credit, Business Credit Builder, Business Financing, FICO®, VantageScore
The fate of consumers and small business owner’s finances is wrapped in their ability to access credit and capital. This is increasingly the case, but still few borrowers are aware of exactly how their credit scores are determined. To further complicate what may already be a confusing picture for many, there is a new competitor on the market that, if it is successful in the market, will give consumers a second credit score in addition to the one they already have.
