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What is Alternative Credit and How Can It Help Borrowers?

tillful

Over the past two decades, the financial services industry has been gravitating towards a more comprehensive approach to credit risk assessment. Credit scoring models alone don’t tell the whole story, so companies are looking to alternative credit data to fill in the gaps. Here are a few examples.

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Demystifying Credit Crunches and What They Mean for Small Businesses

tillful

While your revenue and credit scores haven’t changed, your application gets rejected. This can happen as the result of a credit crunch — also called a credit crisis or credit squeeze. As a result, they’ll need to tighten their credit standards and/or raise their interest rates to prevent further losses.

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How to Get an Absolutely Perfect Credit Score

Fundera

Well, if you’re a credit score aficionado like we are, you’ll recognize 850 as the absolute perfect credit score. Out of all your financial numbers, documents, and sheets, your credit score might just be one of the most important attributes out there. Quick(ish) Review: What’s a Credit Score?

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The Overachiever’s Guide to Getting a Perfect Credit Score

Fundera

Well, if you’re a credit score aficionado like we are, you’ll recognize 850 as the absolute perfect credit score. Out of all your financial numbers, documents, and sheets, your credit score might just be one of the most important attributes out there. Quick(ish) Review: What’s a Credit Score?

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How Can Wells Fargo Small Business Loans Help You Succeed?

Fundera

Let’s take a look at the numbers : In 2006, small business lending was thriving, with the 10 largest banks issuing $72.5 It’s hard to quantify your character, but Wells Fargo does so with your personal credit score. And if an account default occurs, your interest rate will bump up. billion to small businesses.

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How Will the Impending Credit Changes Affect Your Score?

Fundera

This is why it’s important for business owners to stay abreast of how their personal credit score can affect their ability to get credit for the purposes of funding their business’ operating costs. Fortunately, some changes coming down the pipeline could positively affect millions of Americans’ credit scores.

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Parent PLUS Loans Demystified: How to Fund Your Child’s Education

Due

Income Contingent Repayment (ICR) You can opt for ICR if your Parent PLUS loan is part of a Federal Direct Consolidation Loan and entered repayment on or after July 1, 2006. The Department of Education maintains stringent credit requirements for Parent PLUS loan applicants.