Why is Your Personal Credit Score Part of a Business Loan Decision?
Getting a business loan can be a piece of cake if your business credit score is in good health. But have you ever wondered why your personal credit score is part of a business loan decision? When you apply for a business loan, the lender also checks the personal credit score of the applicant (usually the business owner) before sanctioning the loan.
This can be the case for newly started businesses as well as for those early-stage businesses looking for their first business loan.
In this article, we examine why personal credit scores play a crucial role in determining the outcome of your business loan.
Why do personal credit scores matter for business loans?
Your personal credit score is basically a mirrored image of how you handle your personal credit obligations. However, some people are of the opinion that your personal credit scores aren’t relevant and shouldn’t reflect how your …
Does Age Have Significance on Starting a Profitable Online Business?
In the past few decades, engaging in online business has been one of the most profitable things to do, because people from different parts of the world connect through freelance platforms such as Fiverr, Upwork, PeoplePerHour, SimplyHired; and also since the inception of social media ideas, thoughts and even perspectives about life and business has been shared among people from time to time, regardless of their geographical location.
The social media platforms have been used to discuss funny things, sign petition, request for a change in governance, clamor for rights, show case events and do business. The business aspect of the Internet cannot be overlooked as this has been the place where people meet virtually every day. Doing business online is a great way for entrepreneurs to make good money without renting a physical space, grow their businesses and thriving. Host Companies’ reviews clearly shows that online businesses can be …