Author Archives: Scott Letourneau
Three Key Factors Lenders Look at Before Giving You 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.
How Personal Revolving Debt Affects Business Credit
Many business owners are shocked to find that their personal finances have such a large impact on their business's ability to access credit.
Avoid Personal Guarantees in Your Business Name
Banks like to play games with applicants, personal guarantees and your business. They'll tell you personal guarantees by you, ALL your business partners, and even spouses are required to process the loan. It's just part of their standard operating practice they say. It doesn't have to be this way
Secrets of Trade Credit vs Business Financing
The number one reasons that business fail is due to lack of cash flow. As such, many business look into financing but which is the best for you?
What VantageScore Could Mean for Newer or Less-Experienced Borrowers
Credit scores have long been determined by a nearly universal formula known as the FICO 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.