Business Financing – Credit Score 620-700

This 80 point range is a important as there are more options for business owners with 700 credit than 620 credit.  However, there are some very good options.

First question, are you comfortable with a personal guarantee on the money you need?  It is likely to save you thousands of dollars in financing costs, but you are personally responsible for the repayment of your capital.  So, if something happens to your company and you have to close your business, debts will be tied to your personal property.

One benefit of business cash advance is the lack of any personal guarantee or collateral requirement.  If you close your business, you simply walk away from repayment of this obligation.  That may help you sleep better at night, but keep in mind, if you enter a financial arrangement where the financing company is taking 100% of the risk, it has to price accordingly, making this expensive capital.  But for many, it’s the right way to go.

We’ve developed relationships with two  financial companies that provide financing similar to business cash advance but, will allow you to use a personal guarantee in order to reduce your financing cost significantly.

Consider the difference for this $50,000 financing:

Your strong credit and willingness to sign a personal guarantee will save you several thousand dollars and reduce the impact on your cash flow.

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