If you are looking for capital from outside sources, it’s not enough to show you are passionate about the idea - you must have a business plan and the prospect of a good return for your investors. You do lose some control by inviting others in to finance your business, but often there would be […]
The main system in place for determining credit scores is called FICO, an acronym for Fair Isaac Credit Organization, which is the company that owns this formula.
The three credit bureaus, Equifax, TransUnion, and Experian all use this system to establish credit scores, but they each market it under a different name. Equifax […]
There are many benefits to having an offshore bank account, especially if you travel a lot for business. Many businesses utilize offshore bank accounts because placing their money within another economy can have some tax advantages. It also allows a business to have money in a different location in case they need it for a […]
Business owners must consider how these changes could effect their business scores, because of the major impact it could have on their ability to take out loans, finance projects, or pay employees. Consider your options and discuss them with a financial adviser to figure out what is the best plan for you.
How will these […]
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 […]
Beginning or expanding a business can be an exciting venture. But to do so successfully, a business owner is going to need capital. That comes from either the owner’s personal check book or financing extended through a bank. To secure financing through a bank, a business owner must understand the 5 C’s of Credit. These […]
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 FICO’s many laws and formulas used to establish credit for their customers. […]
Many business owners are shocked to find that their personal finances have such a large impact on their business’s ability to access credit. Revolving credit, in particular, can have an unexpected affect on any individual’s ability to access new lines of credit or business credit cards for their business. In fact, your individual […]
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.
The credit bureaus have put out their own credit […]
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 […]
