Friday, August 7th, 2020

now browsing by day

 

Get the Best Business Cash Back Credit Cards

Get the best business cash back credit cards here! Pick from our wide selection and get what you and your business need.

Where are the Best Business Cash Back Credit Cards?

We researched the best business cash back credit cards – and more – for you. So, here are our selections.

Per the SBA, company credit card limits are a massive 10 – 100 times that of personal credit cards!

This shows you can get a great deal more funds with company credit cards. And it likewise reveals you can have personal credit cards at shops. So, you would now have an additional card at the same shops for your company.

And you will not need collateral, cash flow, or financials to get business credit.

The Best Business Cash Back Credit Cards: Benefits

Benefits can vary. So, make sure to pick the benefit you would like from this selection of alternatives.

Best Business Cash Back Credit Cards

Best Business Cash Back Credit Cards for Flat-Rate Rewards

Capital One ® Spark® Cash for Business 

Check out the Capital One® Spark® Cash for Business. It has an introductory $0 annual fee for the first year. Afterwards, this card costs $95 each year. There is no introductory APR offer. The regular APR is a variable 18.49%.

You can get a $500 one-time cash bonus after spending $4,000 in the initial three months from account opening. Get unlimited 2% cash back. Redeem at any time without minimums.

You will need good to exceptional credit to qualify.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-cash/

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Best Business Cash Back Credit Cards for Flat-Rate Rewards and No Yearly Fee

Discover it® Business Card

Take a look at the Discover it® Business Card. It has no annual fee. There is an introductory APR of 0% on purchases for 12 months. Then the regular APR is a variable 14.49 – 22.49%.

Get unlimited 1.5% cash back on all purchases, with no category restrictions or bonuses. They double the 1.5% Cashback Match™ at the end of the first year. There is no minimal spend requirement.

You can download transactions| conveniently to Quicken, QuickBooks, and Excel. Note: you will need great to exceptional credit scores to receive this card.

https://www.discover.com/credit-cards/business/

Best Business Cash Back Credit Cards for Bonus Categories

Ink Business Cash℠ Credit Card

Take a look at the Ink Business Cash℠ Credit Card. It has no yearly fee. There is a 0% introductory APR for the initial year. Afterwards, the APR is a variable 14.74 – 20.74%. You can get a $500 one-time cash bonus after spending $3,000 in the first 3 months from account opening.

You can earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year.

Get 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases. There is no restriction to the amount you can get.

You will need exceptional credit to receive this card.

Find it here: https://creditcards.chase.com/business-credit-cards/ink/cash?iCELL=61GF

Best Business Cash Back Credit Cards with Boosted Cash Back Categories

Bank of America® Business Advantage Cash Rewards MasterCard® credit card

Take a look at the Bank of America® Business Advantage Cash Rewards MasterCard® credit card. Get an 0% introductory APR for the first 9 billing cycles of the account. After that, the APR is 13.74% – 23.74% variable. There is no annual fee. You can get a $300 statement credit offer.

Get 3% cash back in the category of your choice. So these are gasoline stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services. Get 2% cash back on dining. So this is for the initial $50,000 in combined choice category/dining purchases each calendar year. Then get 1% after, with no limits.

You will need exceptional credit scores to qualify.

Find it here: https://promo.bankofamerica.com/smallbusinesscards2/ 

Secure Company Credit Cards for Fair Credit

Capital One® Spark® Classic for Business

Check out the Capital One® Spark® Classic for Business. It has no annual fee. There is no introductory APR offer. The regular APR is a variable 24.49%. You can get unlimited 1% cash back on every purchase for your company, without minimum to redeem.

While this card is within reach if you have average credit, beware of the APR. However if you can pay promptly, and in full, then it’s a good deal.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Exceptional Company Credit Cards with No Yearly Fee

No Yearly Fee/Flat Rate Cash Back

Ink Business Unlimited℠ Credit Card

Have a look at the Ink Business Unlimited℠ Credit Card. Beyond no annual fee, get an introductory 0% APR for the initial twelve months. After that, the APR is a variable 14.74 – 20.74%.

You can get unlimited 1.5% Cash Back rewards on every purchase made for your company. And get $500 bonus cash back after spending $3,000 in the initial 3 months from account opening. You can redeem your rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®. You will need outstanding credit scores to qualify for this card.

Find it here: https://creditcards.chase.com/business-credit-cards/ink/unlimited 

Small Business Credit Cards with a 0% Introductory APR – Pay Zero!

Blue Business® Plus Credit Card from American Express

Take a look at the Blue Business® Plus Credit Card from American Express. It has no annual fee. There is a 0% introductory APR for the initial 12 months. Afterwards, the APR is a variable 14.74 – 20.74%.

Get double Membership Rewards® points on everyday business purchases like office supplies or client suppers for the initial $50,000 spent each year. Get 1 point per dollar afterwards.

You will need great to exceptional credit to qualify.

Find it here: https://creditcard.americanexpress.com/d/bluebusinessplus-credit-card/ 

 American Express® Blue Business Cash Card

Also check out the American Express® Blue Business Cash Card. Keep in mind: the American Express® Blue Business Cash Card is identical to the Blue Business® Plus Credit Card from American Express. However its rewards are in cash rather than points.

Get 2% cash back on all eligible purchases on up to $50,000 per calendar year. After that get 1%.

It has no annual fee. There is a 0% introductory APR for the initial 12 months. After that, the APR is a variable 14.74 – 20.74%.

You will need good to excellent credit scores to qualify.

Find it here: https://creditcard.americanexpress.com/d/business-bluecash-credit-card/ 

Flexible Financing Credit Cards – Take A Look at Your Options!

The Plum Card® from American Express

Have a look at the Plum Card® from American Express. It has an initial yearly fee of $0 for the first year. After that, pay $250 each year.

Get a 1.5% early pay discount cash back bonus when you pay within 10 days. You can take up to 60 days to pay without interest when you pay the minimum due by the payment due date.

You will need great to superb credit scores to qualify.

Find it here: https://creditcard.americanexpress.com/d/the-plum-card-business-charge-card/ 

Irresistible Cards for Jackpot Rewards That Never Expire

Capital One® Spark® Cash Select for Business

Take a look at the Capital One® Spark® Cash Select for Business. It has no yearly fee. You can get 1.5% cash back on every purchase. There is no limit on the cash back you can get. And get a one-time $200 cash bonus as soon as you spend $3,000 on purchases in the initial three months. Rewards never expire.

Pay a 0% introductory APR for 9 months. Then pay 14.49% – 22.49% variable APR afterwards.

You will need good to outstanding credit scores to qualify.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-cash-select/

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

The Best Business Cash Back Credit Cards for You

Your outright best business cash back credit cards hinge on your credit history and ratings.

Only you can pick which features you want and need. So, make certain to do your research. What is exceptional for you could be catastrophic for another person.

And, as always, ensure to develop credit in the advised order for the best, fastest benefits.

The post Get the Best Business Cash Back Credit Cards appeared first on Credit Suite.

The post Get the Best Business Cash Back Credit Cards appeared first on Buy It At A Bargain – Deals And Reviews.

Minority Business Loans Bad Credit: What Can You Do?

In a recently reprinted MBDA study  “Disparities in Capital Access between Minority and Non-Minority-Owned Businesses: The Troubling Reality of Capital Limitations Faced by MBEs,”

Robert Fairlie, Ph.D. and Alicia Robb, Ph.D. looked at both national and regional studies over several decades.  They discovered that limited financial, human, and social capital, as well as racial discrimination, were the major reasons for the disparities between non-minority and minority businesses.  Despite the fact that this study is 10 years old, many of the truths remain today. 

When It Comes to Minority Business Loans, Bad Credit May Haunt You

Forbes states that the major challenges faced by minority business owners in getting business funding include:  

Lower Net Worth

For example, the level of wealth for Latino and African Americans is 11 to 16 times lower than for whites. Caucasian business owners usually have more working capital when they start a business.

Lack of Collateral

As a general rule, banks are less likely to approve loans to applicants with lower valued collateral to use against a loan. Less net worth means less home ownership and fewer high-value assets to sell if a loan defaults. Less security and net worth mean banks are likely to issue smaller loans that need to be paid back quickly.  This slows growth over the long term.

Poor Location

Businesses owned by minorities in locations that have not supported new business in the past are not as likely to get funding.

 Check out our best webinar with its trustworthy list of seven vendors to help you build business credit

Little to No Credit History

Credit is a huge factor for banks when considering loan applications. This is why minority business loans bad credit are so scarce.  Since minority business owners tend to have lower credit scores, for all the reasons already listed, it is harder to get the best rates and terms.

That last one is what causes huge issues.  Minority business loans, bad credit or not, are not easy to find.  More often than not, the key is to look for loans with less strict credit requirements while simultaneously working to build fundability. 

Minority business Loans Bad Credit: First Things First 

Before we focus on how to find minority business loans bad credit, we need to talk about fundability as a whole. The first step is strong personal credit.  However, you can work on other aspects of fundability at the same time. When you do this, you increase your chances of getting any type of business funding you may ever need.  How do you build fundability?  

Set Your Business Up to Be Fundable

When you set up your business, you need it to have a foundation that will help build fundability and separate it from you as the owner.  Even if you are already in operation, you can take the steps necessary to do this.  However, the sooner the better, for a number of reasons. What does it take to build a foundation of fundability

  • Separate contact information

Your business needs its own phone number and address

  • An EIN

This is free on the IRS website. 

  • All necessary and appropriate licenses

If you are not properly licensed to do what you do, lenders will not take you seriously.  This step is necessary to being a legitimate business. 

  • Incorporation

There are many reasons for this.  However, for business credit building, the main thing is it separates your business from you as the owner even further. 

  • A D-U-N-S Number

This is free to get on the Dun & Bradstreet website.  You must have one to have a business credit profile with D&B. 

  • Separate Business Bank Account

There are many reasons to do this.  The main one for building credit building however, is that it further solidifies your business as a separate entity. 

  • Professional website

This surprises a lot of people.  These days, if you don’t have an online presence, you might as well not even exist.  Still, a poorly put together online presence is just as bad. Pay for professional design and hosting.  It’s worth it.

Work on Building Business Credit

When we talk about minority business loans bad credit, we are talking about bad personal credit. However, there is such a thing as business credit. 

Even though most lenders will still take personal credit into account, separate business credit allows them to judge your business on its own merits.  If they can see that, despite some personal credit issues, you have strong business credit, it may sway them if they are wavering on approval. 

In addition, business credit opens up new funding doors that are not available to individuals, which in turn can only help you run and grow your business. 

Minority Business Loans Bad Credit: You Need Accounts Reporting to Your Business Credit Report

What you want to do is make minority business loans bad credit a non-issue.  In reality, you just need bad credit to be a non-issue. The key to this, when it comes to business credit, is to get accounts in your business’s name that do not really take your personal credit into account.  It may feel like it is impossible, but it isn’t.  There are a few ways to do it. 

First, vendors you already have a relationship with may be willing to extend credit without a credit check.  The worst that can happen is they say no.  If they say yes, ask them to report the payments to the business credit agencies. 

Utilities might also report accounts.  You already pay utilities, rent, and internet each month.  Ask those providers to report your payments to the business credit reporting agencies.  Be certain your accounts are set up in your business name with your business contact information.  Worst case scenario is that they say no.  It never hurts to ask.

Work with Starter Vendors

This is the secret that many business owners are unaware of. We call them starter vendors. They are part of the vendor credit tier.  Certain companies that will extend Net terms in your business name without a credit check.  After you pay, they will report those payments to the business credit reporting agencies (CRAs). 

Since they do not check your credit score, it doesn’t matter that you don’t have one.  Of course, they do have other ways of reducing risk.  These vary by vendor.  They may include a minimum time in business, average balance in a business banking account, or even a minimum annual revenue. 

Minority Business Loans Bad Credit: What Next? 

After you have enough of these types of accounts reporting payments to your business credit report, you probably have a strong enough score to move on to the next tier. We call this the retail credit tier.  They offer more traditional credit.  These are credit cards for use at specific stores such as Office Depot or Lowes.  It is also sometimes referred to as store credit. 

After you have several of these store credit accounts reporting, you can apply for cards in the fleet credit tier.  These include gas cards with companies such as Shell and Fuelman.  They can be used for fuel and auto repair and maintenance only. 

Lastly, with accounts reporting from all previous tiers, you should have a score strong enough to apply for cards from what we call the cash credit tier.  Of course, that is only if you have been making payments consistently on time. 

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit

These include traditional credit cards that are not connected to a certain store or type of purchase.  They can be used for anything and everything.  In addition, they often have better interest rates and nice rewards programs. 

Fix Your Personal Credit

Making sure your business has strong business credit is important to fundability, but personal credit still matters.  There are many business loans that will still require a personal credit check. Take the time to go through your personal credit report and look for mistakes. If you find any, get them corrected.  At the same time, make payments on time, consistently. If you find yourself with any extra cash, throw it on higher rate balances first. Then, when that balance is gone, use the entire payment amount on the next highest rate balance.   It’s called the snowball technique, and you’ll be surprised how quickly you’ll pay off balances and see credit score improvement. 

Minority Business Loans Bad Credit: In the Meantime

Of course, you likely need funds right now if you are reading this.  Since you can’t build or fix credit overnight, here are some options to help you in the meantime. 

Accion U.S. Network

Accion offers loans in all states.  Funds are available to: 

  • minorities 
  • veterans
  • women
  • those with disabilities
  • and low to medium income business owners 

Typically, loan amounts start at $200,000 and go up to $300,000. Also, Accion can put owners in contact with others to help build a network of support.

Comparatively, the minimum credit score for these loans is 575.  In addition, you cannot be 30 days late on paying any accounts.  Lastly, you will not qualify if you have late rent or mortgage payments over the past 12 months.

Union Bank Business Diversity Lending Program

This program from Union Bank offers business loans for minorities. In fact, this one is specifically for minorities. Indeed, you must be Hispanic, American Indian, Latino, Asian, Alaskan Native, African American, Native Hawaiian, or other Pacific Islander to even qualify.    

Furthermore, a business that makes up to $20 million could qualify for a loan of $2.5 million.  However, you must be in business for at least 2 years.  Likewise, the business must be at least 51% minority owned.

The National African American Small Business Loan Fund

This is a partnership between JP Morgan Chase and the Valley Economic Development Centers.  It serves small businesses with minority owners that are in low income or medium income communities.  However, only those in New York, Los Angeles, and Chicago are eligible.  

Business Center for New Americans

Right now, The Business Center for New Americans offers minority business loans of $5,000 to $50,000.  They work with immigrants, refugees, women, and other minority entrepreneurs.  The goal is to help minority business owners who have not been able to get traditional financing.  

Camino Financial 

Camino Financial is an online lender.  Microloans range from $5,000 to $50,000.  Additionally, they offer small business loans between $10,000 to $400,000. 

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit

Minority Business Loans Bad Credit: The SBA?

Whether or not this option will work for you depends on how bad your credit actually is.  If it is above 640, then you may be able to get some help from the SBA.

The Small Business Administration focuses on helping all small businesses, not just those that are minority owned. They offer a number of products and resources through their programs.  For the most part, the SBA does not lend money directly. They work through partner financial institutions to guarantee loans. As a result, they are able to outsource the administration of the loans and disbursement of funds to those who do it on a regular basis. That is, lenders and non-profits that are in the communities where the businesses operate. 

SBA 7(a) Loans & 8(a) Business Development Program

These loans are open to all small business owners.  However, if a minority business owner participates in the SBA Business Development program, they increase their chance of getting this type of loan.  

Honestly, about 80% of SBA loan applications from Hispanic and African Americans are for $150,000 or less.  This is according to the SBA itself.  Surprisingly, these smaller loans seem to be harder to get.  Honestly, this is probably because lenders don’t make as much money from them.

SBA Community Advantage LoansBad Credit Minority Biz Financing Credit Suite

These are to meet the needs of small businesses in neglected markets. That includes minorities. The goal is to get local lenders to increase loans up to $250,000.  This is done by backing up to 85% of the loan amount. The hope is that this helps small business owners who might not be able to get traditional financing. 

SBA Microloan Program

First, loans through this program go up to $50,000.  Secondly, funds come from a third-party lender.  Usually, this consists of nonprofit organizations in the community. Often, they also offer other types of assistance to business owners along with the loan. 

Minority Business Loans Bad Credit: Bad Credit Doesn’t Have to Stop You

It may detour you for a bit, but if you work hard you can fix that.  In the meantime, there are options that can help you get through. Check these out, and work on building overall fundability to ensure you can access all the funding you could ever need to run and grow your business. When it comes to minority business loans, bad credit doesn’t have to be the end of the story.

The post Minority Business Loans Bad Credit: What Can You Do? appeared first on Credit Suite.

Get to Know the Main Business Credit Scores from Equifax Loans

Are you looking for Equifax loans? Equifax is not an actual lender. But what they score will be one of the reasons whether your business can borrow money at all. So consider Equifax loans and scores. Because they are vital parts of the decision making process when it comes to borrowing money or getting credit for your business.

But first, it helps to consider what business credit actually is.

What is Business Credit? How Does it Relate to Equifax Loans?

Business credit is credit which is in the name of a business. It is not tied to the owner’s creditworthiness or Social Security Number. Instead, business credit scores depend on how well a company can pay its bills. Consumer and business credit scores can vary dramatically.

What are the Biggest Business Credit Reporting Agencies?

When you are looking at Equifax loans, then you should be looking at business credit reporting agencies. There are three large business CRAs: Dun & Bradstreet, Experian, and Equifax. There is also the FICO SBSS business score.

Equifax Funding Data

The company gets its data from a data sharing agreement with the Small Business Exchange, and Net 30 type industry trade credit information from a wide variety of suppliers. These suppliers provide products and services to businesses on an invoice basis.

Equifax Financial Report Details and Scores

Equifax has a few main scores: 

  • The Small Business Credit Risk Score for Financial Services; plus the Small Business Credit Risk Score for Suppliers
  • The Small Business Failure Risk Score
  • The Payment Trend, and the Payment Index

Check out a sample Equifax business credit report at assets.equifax.com/assets/usis/small_business_sample_credit_report.pdf.

What is the Purpose of Equifax Loans Scores?

It is a good idea to explore the purpose of scores. Scores answer one basic question: How likely is a business to go severely delinquent in its payments? The score is an indication of whether a company is likely to make late payments.

Equifax’s Credit Risk Scores for Equifax Loans

It is time to consider Equifax Credit Risk scores. 

The key factors are:

  • Evidence of Non-Financial Trades Ever Cycle 2+ Delinquent or Charge-Off
  • Length of Time Since Oldest Financial Account Opened Suggests Lower Risk
  • Available Credit Limit on Revolving Trades Suggests Lower Risk, and
  • Company Size (Number of Employees)

Any of these can suggest lower risk.

Equifax Loans Credit Suite

Learn more here and start building business credit with your company’s EIN, not your SSN.

The Small Business Credit Risk Score for Financial Services

Check out the Small Business Credit Risk Score for Financial Services. The Business Credit Risk Score predicts the likelihood of a business incurring a 90 days severe delinquency, or charge-off over the next 12 months. So the score ranges from 101 to 992. A lower score indicates higher risk.

The Small Business Credit Risk Score for Suppliers

Compare with the Small Business Credit Risk Score for Suppliers. This score predicts severe delinquency or change-offs, on supplier accounts, or bankruptcy within 12 months. So its scores range from 101 to 816.

The Small Business Failure Score

Check out the Small Business Failure Risk Score. So this score runs from 1000 to 1880. Higher scores mean a business is less likely to fail.

Key Factors

The key factors for the Small Business Failure Score are:

  • Length of Time Since Oldest Financial Account Opened Suggests Lower Risk
  • Total Balance to Total Current Credit Limit Average Utilization in Prior 3 Months Suggests Higher Risk
  • Worst Payment Status on All Trades in the Prior 24 Months Suggests Higher Risk, and
  • Evidence of Non-Financial Trades for two or more Cycles Historically

Any of these can help to determine Equifax loans decisions.

Details on the Small Business Failure Score

Let’s look at the Small Business Failure Score. The Business Failure Score predicts the likelihood of a business failing through either formal or informal bankruptcy over the next 12 months. So the score ranges from 1000 to 1610. A lower score indicates higher risk.

Payment Trend

So check out the Payment Trend. The Payment Trend shows a twelve month payment trend. This is in comparison to the industry norm. It measures the average days beyond terms by date reported. So this is for non-financial accounts only.

Trended Data

Equifax is using trended data to help its customers make lending and credit decisions. Because trended data helps businesses to identify those more likely to default or declare bankruptcy. And it helps them to monitor on-going account activities. So it also helps them to refine and monitor underwriting and modeling strategies. And it helps to predict propensity to pay. And it helps identify abnormal spending patterns to mitigate fraud and reduce delinquency.

Equifax Loans Credit Suite

Learn more here and start building business credit with your company’s EIN, not your SSN.

What is the Equifax Loans Payment Index?

Let’s look at the Payment Index. The Payment Index compares payments to the industry norm. 

90 or better means Paid as Agreed. So 80 to 89 means one to 30 days overdue. 60 to 79 means 31 to 60 days overdue. 

40 to 59 means 61 to 90 days overdue. So 20 to 39 means 91 to 120 days overdue. And one to 19 means 120 or more days overdue.

Equifax Loans Business Credit Scores are Combined with Consumer Scores

Equifax is blending scores with consumer scores. And Equifax offers a blended option. It is for the Small Business Credit Risk Score for Financial Services and the Small Business Credit Risk Score for Suppliers. Both of these scores can be used with commercial-only data or commercial and consumer credit data.

A For-Instance

For example, the blended option for the Small Business Credit Risk Score for Financial Services uses consumer credit information on the business owner, principal, or guarantor. It adds this information to public records, firmographics, and supplier credit history data. It also combined with lease payment and banking information.

Equifax Loans Business Credit Reports

Consider Equifax business credit reports. An Equifax business credit report also includes information on the percent of utilization. But this is for financial accounts only. So this is the amount of credit in use. And then that figure is divided by the total amount of available credit.

An Equifax business credit report also includes information from public records. This includes bankruptcies, judgments, and liens.

An Equifax business credit report also includes information on any recent inquiries. It also shows whether the company has any alternate names, and if there is a DBA.

Equifax Loans Credit Suite

Learn more here and start building business credit with your company’s EIN, not your SSN.

How You Can Navigate and Improve your Equifax Business Credit Report

Let’s look at your actual Equifax business credit report. It divides into sections. Here’s a sample Business Credit Advantage report: https://sbcr.experian.com/pdp.aspx?pg=Sample-BcaP&ftr=nolinksCloseButton&hdr=reportPopup&link=5558

Company Identifying Information

The first part is devoted to identifying information about your company, e. g. the business name, and its address and telephone number, but also details such as whether or not your small business is incorporated, and the date you first went into business. This area will also consist of the number of employees and your company’s annual sales. This sector will additionally display if there are any alerts. So it is at the top.

Scores

The following portion consists of two scores:

  1. Your business credit score and
  2. Your financial stability risk rating

Credit Summary

In the summary component, the report shows the number of your business’s tradeline accounts, and the number of business inquiries. It also has your total outstanding balance, and any derogatory information such as liens, judgments, and bankruptcies. If there are any specific tax liens or the like, those are specified further down in the report. And it has the single greatest amount of credit extended, the median amount of credit extended, and the highest and lowest open 6 month balances. 

Payment Trend Summary

So this next piece is a number of graphs regarding your payment trends over time.

Trade Payment Information, Inquiries, Collection Filings and Summary

These sections offer more information about the above sections. Also, they contain dates and balances. The Trade Payment Information portion also contains the terms you are paying to various supplier categories. 

Commercial Banking, Insurance, Leasing

Next are the specifics on your bank accounts, insurance accounts, and any leases your business is obligated to pay back.

Judgment Filings and Tax Filings

So these two portions show the specifics about any tax liens and judgements against your business. 

Hence the details include date, jurisdiction or location, and liability amounts.

UCC Filings and UCC Filings Summary

A Uniform Commercial Code filing is often a part of getting a loan or having credit extended to a business.

These sections have all the details on any UCC filings as against your business. These details include the date, the filing jurisdiction, and the name of the party holding the lien.

Score Improvement Tips

So Equifax offers tips to improve your score. These include urging businesses to negotiate net 30 terms and pay their debts on time. Tips also include keeping your credit utilization within reason and length of credit history.

Furthermore, the end of a typical report gives information on how to dispute any errors.

Equifax Loans: Takeaways

Equifax has five main business credit scores. These are:

  • The Small Business Credit Risk Score for Financial Services
  • Small Business Credit Risk Score for Suppliers
  • Also, the Small Business Failure Risk Score; Payment Trend, and 
  • the Payment Index

An Equifax financial report will also contain information on public records and more.

While there is technically nothing known as Equifax loans, all of the Equifax funding information you could ever want is in their reports.

The post Get to Know the Main Business Credit Scores from Equifax Loans appeared first on Credit Suite.

Font Resize