Listen Now -Co-hosts Lew Weiss and Tim Grady interview Mr. Paul Oster, CEO of Better Qualified, a business in Eatontown, NJ that can help owners and finance executives learn how to get a small business loan with bad credit, improve their credit rating to unlock the value in a business, and increase the credit capacity the business can access to fund business growth. As a business owner, learning how to fix my credit rating was incredibly important. Learn the process, the nuances, and discover how quickly your business can achieve a solid credit rating – even positioning it to stand on its own and get your personal credit and assets released from business loans.
Improving a credit rating isn’t easy. Paying bills on time and in full can contribute to a good credit rating, as well as using credit cards. Using a credit card and then paying it off in full, rather than the lowest possible installment, shows the lender that you are responsible enough to borrow money. To start building a credit rating, a credit card for no credit will need to be used as lenders are not going to give out their best credit cards to someone with a low credit rating.
A credit rating can determine any type of loan, whether it be for a $10,000 loan or opening a phone contract. Without credit, lenders can’t determine if you’re trustworthy or not and they will be less likely to trust you if you have no credit at all. Nurturing and monitoring a credit score is the best way to help it improve. You are then free to look up usda loan providers and see how you can be helped out financially with your business, without worrying that your credit rating will affect what you can get.