Apr 10, 2022
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There is another impact of bad credit today. Many potential Telephone Number List business associates will check into your credit worthiness before doing business with you. The old adage "you are judged by the company you keep" has begun to make its impact known in the business world and businesses do not want to be associated Telephone Number List with companies that are fiscally irresponsible. It also makes sound business sense to not do business Telephone Number List with a company that is likely to default on their end of a deal. Credit Score Numbers Business credit score numbers, just like personal credit score numbers, range. Credit scores are one time when high scores are better than low. The closer to 85 you are the better Telephone Number List chance you will have of getting a loan, and a low interest rate. Even 10 points can mean extra interest. With the economy being in Telephone Number List difficult straights now, lenders are even more apt to frown on as little as a 10 point difference. They are more likely to require additional collateral, proof of backing in the form of a co-signor, or personal backing. Why Not Go It Alone? If you have a small Telephone Number List business the temptation is to forego business loans and simply apply for a personal loan to back your company's needs.