Fundera

DECEMBER 8, 2015

Although there is no loan minimum, the average loan amount in fiscal year 2012 was $337,730, according to the SBA. Banks often won’t lend to businesses with credit scores lower than 700 or companies which haven’t been in business for at least a few years. Lenders can loan a maximum of $5 million under this program.

Small Businesses 68

Small Businesses Credit Scoring Investment Firms 68

Fundera

JANUARY 7, 2016

The short-term business loan model has seen extraordinary growth in recent years—non-bank short-term lenders doubled the amount of money they loaned between 2012 and 2013, from $1.5 billion to $3 billion.

Credit Scoring 76

Credit Scoring Small Businesses Default Transactions 76

Fundera

AUGUST 3, 2016

And in 2012, Amazon added yet another service to their list: small business loans through the Amazon Lending program. And while alternative lenders have largely opened up credit access for small business owners, applying for a business loan can take a lot of time and effort. But not just any Amazon seller.

Credit and Collections 75

Credit and Collections Small Businesses Deductions Credit Scoring 75

Fundera

DECEMBER 17, 2018

When do credit inquiries fall off your report? Your quick answer is this: Credit inquiries stay on your credit report for a maximum of two years —but they’ll only impact your FICO credit score for a maximum of 12 months. To fully get into it, we first need to cover the different types of credit inquiries.

Credit Scoring 71

Credit Scoring Credit Application Small Businesses 71

Fundera

JANUARY 27, 2019

For example, small business owners can use Plastiq to pay rent, taxes, or legal fees with a credit card, in lieu of a check, bank transfer, or wire transfer. For the convenience of letting you use a credit card, Plastiq charges a 2.5% Want to use Plastiq but don’t have the credit score to qualify for a top-tier credit card?

Small Businesses 40

Small Businesses Credit Card Payments Dashboards Credit Card Companies 40

Due

NOVEMBER 19, 2023

It’s important to note that 2012 registered even lower mortgage rates during one November week, averaging 3.31%. However, the rest of 2012 was higher, leading to an annual average of 3.65% for thirty-year mortgages. The benchmark requirement for most lenders is a credit score 620 to qualify for a conventional type of mortgage.

Credit Scoring 59

Credit Scoring Transactions Default 59

Fundera

SEPTEMBER 6, 2016

Are there substantive differences in categories like credit score, annual revenue, and industry? Women entrepreneurs have lower credit scores than men, with a 15-point difference between their averages. Women Entrepreneurs Have Lower Credit Scores. of all women receiving an SBA loan, versus 6.4%

Small Businesses 75

Small Businesses Credit Scoring Credit and Collections 75

Fundera

JUNE 22, 2016

Alternative lending is a fast-growing industry: approximately $3 billion in 2013 was lent through alternative channels, which was double that of 2012. If you default on your “loan” with a pawnbroker, your credit score won’t report it—but technically, this is a form of alternative lending. Door-to-door money lending services.

Credit Scoring 76

Credit Scoring Small Businesses Default Transactions 76