Why is your personal credit score essential for your business?
Dec 14, 2016
Why your personal credit score is important?
Regardless of whether you are starting a new business from scratch or trying to get the funds to expand your existing business, your personal credit score plays a crucial role in your financial life and will affect your ability to get any kind of loan you need for your business. It is essential to have a good credit score in order to be approved for affordable financial solutions to finance or grow your business. A negative score or history could potentially keep you from expanding your business. There will be more difficulties for you to get a business loan with a lower interest rates, it also will make it more expensive to borrow money for any other purposes you may have. A good credit score is beneficial for all business owners for many reasons and these are some of them:
1. With a good credit score there are higher chances to be approved for loan, cash advances or any line of credit you need for your business.
2. You will qualify for the best rates and most affordable terms, which will help you and your business save a lot of money in the long run.
3. Lenders will require less documentation and supporting evidence from you when applying for credit for your business.
Cast Capital is here to help you and your business grow. We offer a credit repair service for all new and existing clients. We will review your credit history report with you and begin the process of disputing negative or inaccurate items on your report. We will also give you recommendations to follow and provide instructions how to achieve a higher score and maintain it in the future. Your credit score can be improved in less than 60 days, so do not wait any longer. Let us show you how this process works and let us start working on your credit report today.