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November 25th, 2008 — Building Business Credit
Credit scores have long been determined by a nearly universal formula known as the ® * model. This model, owned by Fair Isaac, is used by over 80% of the major banks in the US, and is the familiar 300-850 credit ranking that consumers are familiar with.
November 10th, 2008 — Building Business Credit
The main system in place for determining credit scores is called ® *, an acronym for Fair Isaac Credit Organization, which is the company that owns this formula.
November 6th, 2008 — Building Business Credit
Many businesses fail because they are unable to access the capital that they need to survive, particularly in the first five years of establishment when banks view them as riskier because of their age. This is also when the vast majority of businesses fail. By being aware of the factors that are weighed before lending money, you can better prepare your business to successfully attain the credit needed to not just survive, but thrive. Your personal credit score and revolving debt will be an integral part of this process, but there is more involved than just your individual financial history.
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