Business Financing – Credit Score Between 520 and 620

When I talk to business owners in this credit range they are either on their way up or down the credit scale.  Either way, I have two strong recommendations after years of dealing with owners in this position.

1. Make a decision to improve your credit profile now as it will save you thousands of dollars and sleepless nights (see example in below 520 credit section).
2. Allocate some of the funds you get now to improve your credit score.  Pay vendors, reduce credit card debt, bring taxes current, etc.

Although our credit is limiting your access to well-priced capital for your business, there are options.

Keep in mind we always have two objectives for clients:

1. get the capital you need now and
2. position you for more and better capital the next time you need it.

So, a business cash advance is the only realistic option for your financial needs at this time.  Here are a couple tips that will save you money and heart ache.

1. Decide it you want to manage the process yourself or use an independent advisor (cost to you is the same).
2. Do NOT apply to multiple companies at once.  This does not cause them to compete, it scares them which often increases your cost, reduce your funding amount or causes decline.
3. Learn from other owners who have successfully used business cash advance in the past.

You’ll likely get some or most of the funds you need.  Use that money wisely and position your self for better capital the next time you need funding.

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