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.
Entries Tagged 'FICO®' ↓
VantageScore Versus FICO® *: How the New Credit Rating System May Affect Consumers
October 6th, 2008 — Business Credit, Business Credit Builder, Business Financing, FICO®, VantageScore
Credit Score Formula Changes, Impact on Small Business Owners
August 25th, 2008 — Business Credit, Business Credit Builder, FICO®, Personal Credit, Sole Proprietorship
Small businesses are extremely important to our culture and our economy. In fact, small businesses make up a very significant portion of our economy. They thrive on local business and give life to the monetary heartbeat of America. The financial success of America’s small businesses lies heavily on their ability to attain credit in order to maintain their business.
The Anatomy of Your Business Credit Score
August 18th, 2008 — Business Credit, FICO®, Personal Credit
The success or failure of a small business could very well rest on the business owners’ credit scores, especially with the failure of most businesses in the first six months of the business. It is important that business owners are aware of ® *’s many laws and formulas used to establish credit for their customers. This will help business owners make informed decisions about how they manage and deal with their business in order to maximize their chances for a good credit. A good credit score can make or break the success of your business. Here is a guide to how ® * reviews your business and determines your credit score.
