Tag: Credit

Bad Credit Business Loans #business #technology


#bad credit business loans

#

Bad Credit Business Loans

Grow Your Business Even with Poor Credit

A poor credit history severely limits your chances of securing a conventional bank business loan. Banks usually deem a business with bad credit history too much of a risk. Even if you somehow manage to convince them of the viability and growth potential of your business, it is highly unlikely that you will be able to acquire funds through traditional means. But, there are still non-traditional lenders who might be willing to offer their assistance. The truth is that bad credit business loans can be found, but the question you must ask yourself is if it is right for your business.

Business Funding Solutions for Businesses with Bad Credit

It is true that bad credit can discourage a traditional lender, but there is still hope for securing financing for your business. Boost Capital offers small business loans that do not carry the burden of a perfect credit history requirement. Your total monthly gross sales and ability to generate revenue plays a more significant role in your approval for funding than your credit score.

A small business loan from Boost Capital could be the answer you have been looking for. This business financing solution has huge advantages for small business owners.

  • Funds are available to you even with poor/bad credit history
  • No need for business plans or extensive financial records
  • Repayment is dependent on your total monthly gross sales
  • Use these funds however you see fit for your business

An important feature of a small business loan is that it does not show up on your credit report as a loan from the bank would. This means that you are free to pursue other financing opportunities.

Put aside your worries about bad credit. Business loans from the bank are not your only option. The flexibility of a small business loan from Boost Capital could be exactly the business financing solution you have been searching for.

For more information on bad credit business loans, click here or call 0800 138 9080 today!

Need a Business Loan?


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How finance companies differ from credit cards, banks #good #business #names


#finance companies

#

How finance companies differ from credit cards, banks

Whether it’s buying a car, paying medical bills or purchasing furniture, if you’ve had to finance one of life’s big-ticket items, you’ve probably been offered the chance to take out a loan from a finance company.

They’re the less-regulated alternative to getting a loan from your bank or putting the charge on your credit card. Usually, a finance company offers a secured or unsecured personal loan. Before signing on the dotted line with a finance company, understand exactly what you are getting into.

What finance company loans are (and aren’t)
Sometimes these products are marketed as credit cards, when they really aren’t.

Medical credit cards, in particular, can be very loosey-goosey about the term, says Linda Sherry, spokeswoman for Consumer Action, which in 2014 released a survey of medical cards.

Such products are not subject to the same regulations as credit cards.

Borrowing money from a finance company isn’t necessarily a bad idea, but you should first learn what these companies are, how they operate, who regulates them, and what protections you have if you run into problems.

What are consumer finance companies?
Unlike a bank or credit union, finance companies do not accept deposits. They just loan money, sometimes with fixed terms and sometimes not. Some offer a big range of products, some specialize, says Chris Kukla, senior counsel for government affairs with the Center for Responsible Lending.

The most well-known issuers of these products are automobile finance companies, such as Toyota Financial Services or Ford Credit. These are owned by auto manufacturers and make loans to consumers purchasing vehicles from those particular brands.

If you have strong credit, you have a good chance of getting a low-interest auto loan through an auto finance company.

If your credit is not stellar, an auto finance company that specializes in the subprime market may offer you a loan, but at a much higher interest rate.

CarePayment of Lake Oswego, Oregon — which works with health care providers nationwide and provides a way for people to pay medical bills — is another example of a finance company. It offers consumers a revolving line of credit at a 0 percent annual percentage rate.

Furniture and appliance stores, such as Seffner, Florida-based Rooms to Go, also offer consumers a line of credit through a finance company.

Who regulates finance companies?
Consumer finance companies are licensed and regulated by the state in which they operate. Depending on the size of the company, it may be licensed in one state or dozens of states, says Danielle Fagre Arlowe, senior vice president of the American Financial Services Association, a trade association for the consumer credit industry that represents traditional installment lenders, such as the big auto finance companies.

That is different from credit card issuers, which generally are regulated by federal authorities. The Office of the Comptroller and the Currency (OCC), a division of the U.S. Treasury Department, regulates national banks that issue credit cards, while the National Credit Union Administration supervises federal credit unions.

Meanwhile, state banking regulators oversee state-chartered banks or credit unions.

Finance companies have to adhere to the laws in the states in which they are licensed, Kukla says

That means a finance company can do things that are not expressly prohibited by law in the state in which it operates, Kukla says: It may be abusive, but if it’s not prohibited by law, there’s nothing the state can do.

Because of variations in state laws, a finance company may have different loan terms in different states, Arlowe says. So a consumer in Georgia may be charged a different interest rate or have a different loan payoff schedule than a consumer in Texas.

One big segment of finance companies has a new regulator. The Consumer Financial Protection Bureau (CFPB) — which supervises and enforces federal consumer financial protection laws, including those surrounding credit cards — is taking over the supervision of major auto finance companies.

Under a rule issued June 10, 2015, the CFPB will have authority over companies that make, acquire or refinance at least 10,000 auto loans or leases per year. The bureau estimates that 34 auto finance companies would fall under that regulation, and these account for about 90 percent of all auto loans and leases not made by banks. Together, these companies provided auto financing to nearly 7 million consumers in 2013.

The rules mean auto finance companies will be not be allowed to use deceptive practices to market loans or leases, or mislead consumers about the loan benefits or terms. The companies also must provide accurate information to credit bureaus.

Auto finance companies also will be prohibited from discriminating against consumers when lending based on factors such as someone’s race, gender, and age, or based on whether the person receives public assistance. Illegal debt collection practices are banned, and the CFPB will review automobile repossession processes.

The new rule is scheduled to take effect in August 2015.

What are typical finance company practices?
Unlike credit card companies, finance companies are not required to give consumers the same payment due date each month. While many require you to pay your bill by the same date, in other cases it is a moving target. So your bill may be due on the 22nd one month and the 21st the following month.

If you don’t pay on the proper date, you might be charged a late fee or required to pay a higher interest rate, Kukla says.

There also might be other risks. For example, imagine you are shopping at an appliance store offering 0 percent financing for 24 months. It may sound like a good deal, but if you read the fine print, you may see that it is a deferred interest deal. If you miss a payment or fail to pay the loan off in 24 months, you could end up paying a steep interest rate, and have interest added in from the time you took out the loan, Kukla says.

Many finance companies report your payment record to the three main credit bureaus, helping you build a credit history, Arlowe says. However, they are not required to report such payments.

Complaints are the only real way to tell what kind of lender they are.


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Business Credit Reports #business #process #outsourcing


#business credit reports

#

Make Smarter Business Credit Decisions Here

Credit.net is quick and easy to use. The information is very straight forward and navigation is simple. There is no need to learn codes or rating systems as I have seen on other sites. I highly recommend credit.net as a simple, more affordable solution to your credit reporting needs.

Credit.net has helped our business tremendously by allowing us to do credit checks on current and prospective customers in an easy and efficient manner. The website is easy to use, and the best part is that there is no limit on how many times we utilize it.

I would highly recommend Credit.net. The company provides an excellent product at a fair cost. I work directly with Abby Glenn, a Senior Account Executive at Credit.net. Abby is very personable, professional and efficient. I enjoy working with her.

Credit.net is a quick and easy way to view Company credit ratings. It has been immensely helpful to us in determining who we give credit terms to and who we make COD.

We never have any issues and if I have a question my rep Chuck Liquori who is great and always helpful. He is my only vendor who calls periodically to check to see how things are going with the service. That goes a long way.


Tags : , ,

How finance companies differ from credit cards, banks #better #business #bureau


#finance companies

#

How finance companies differ from credit cards, banks

Whether it’s buying a car, paying medical bills or purchasing furniture, if you’ve had to finance one of life’s big-ticket items, you’ve probably been offered the chance to take out a loan from a finance company.

They’re the less-regulated alternative to getting a loan from your bank or putting the charge on your credit card. Usually, a finance company offers a secured or unsecured personal loan. Before signing on the dotted line with a finance company, understand exactly what you are getting into.

What finance company loans are (and aren’t)
Sometimes these products are marketed as credit cards, when they really aren’t.

Medical credit cards, in particular, can be very loosey-goosey about the term, says Linda Sherry, spokeswoman for Consumer Action, which in 2014 released a survey of medical cards.

Such products are not subject to the same regulations as credit cards.

Borrowing money from a finance company isn’t necessarily a bad idea, but you should first learn what these companies are, how they operate, who regulates them, and what protections you have if you run into problems.

What are consumer finance companies?
Unlike a bank or credit union, finance companies do not accept deposits. They just loan money, sometimes with fixed terms and sometimes not. Some offer a big range of products, some specialize, says Chris Kukla, senior counsel for government affairs with the Center for Responsible Lending.

The most well-known issuers of these products are automobile finance companies, such as Toyota Financial Services or Ford Credit. These are owned by auto manufacturers and make loans to consumers purchasing vehicles from those particular brands.

If you have strong credit, you have a good chance of getting a low-interest auto loan through an auto finance company.

If your credit is not stellar, an auto finance company that specializes in the subprime market may offer you a loan, but at a much higher interest rate.

CarePayment of Lake Oswego, Oregon — which works with health care providers nationwide and provides a way for people to pay medical bills — is another example of a finance company. It offers consumers a revolving line of credit at a 0 percent annual percentage rate.

Furniture and appliance stores, such as Seffner, Florida-based Rooms to Go, also offer consumers a line of credit through a finance company.

Who regulates finance companies?
Consumer finance companies are licensed and regulated by the state in which they operate. Depending on the size of the company, it may be licensed in one state or dozens of states, says Danielle Fagre Arlowe, senior vice president of the American Financial Services Association, a trade association for the consumer credit industry that represents traditional installment lenders, such as the big auto finance companies.

That is different from credit card issuers, which generally are regulated by federal authorities. The Office of the Comptroller and the Currency (OCC), a division of the U.S. Treasury Department, regulates national banks that issue credit cards, while the National Credit Union Administration supervises federal credit unions.

Meanwhile, state banking regulators oversee state-chartered banks or credit unions.

Finance companies have to adhere to the laws in the states in which they are licensed, Kukla says

That means a finance company can do things that are not expressly prohibited by law in the state in which it operates, Kukla says: It may be abusive, but if it’s not prohibited by law, there’s nothing the state can do.

Because of variations in state laws, a finance company may have different loan terms in different states, Arlowe says. So a consumer in Georgia may be charged a different interest rate or have a different loan payoff schedule than a consumer in Texas.

One big segment of finance companies has a new regulator. The Consumer Financial Protection Bureau (CFPB) — which supervises and enforces federal consumer financial protection laws, including those surrounding credit cards — is taking over the supervision of major auto finance companies.

Under a rule issued June 10, 2015, the CFPB will have authority over companies that make, acquire or refinance at least 10,000 auto loans or leases per year. The bureau estimates that 34 auto finance companies would fall under that regulation, and these account for about 90 percent of all auto loans and leases not made by banks. Together, these companies provided auto financing to nearly 7 million consumers in 2013.

The rules mean auto finance companies will be not be allowed to use deceptive practices to market loans or leases, or mislead consumers about the loan benefits or terms. The companies also must provide accurate information to credit bureaus.

Auto finance companies also will be prohibited from discriminating against consumers when lending based on factors such as someone’s race, gender, and age, or based on whether the person receives public assistance. Illegal debt collection practices are banned, and the CFPB will review automobile repossession processes.

The new rule is scheduled to take effect in August 2015.

What are typical finance company practices?
Unlike credit card companies, finance companies are not required to give consumers the same payment due date each month. While many require you to pay your bill by the same date, in other cases it is a moving target. So your bill may be due on the 22nd one month and the 21st the following month.

If you don’t pay on the proper date, you might be charged a late fee or required to pay a higher interest rate, Kukla says.

There also might be other risks. For example, imagine you are shopping at an appliance store offering 0 percent financing for 24 months. It may sound like a good deal, but if you read the fine print, you may see that it is a deferred interest deal. If you miss a payment or fail to pay the loan off in 24 months, you could end up paying a steep interest rate, and have interest added in from the time you took out the loan, Kukla says.

Many finance companies report your payment record to the three main credit bureaus, helping you build a credit history, Arlowe says. However, they are not required to report such payments.

Complaints are the only real way to tell what kind of lender they are.


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Business Credit Rating and Business Credit Services from Experian #business #plan #outline


#business credit

#

BUSINESS CREDIT SERVICES

Experian s business credit services help small business owners protect and grow their business. Stay informed regarding your business credit file and learn your business credit rating so you can obtain the credit and funding you need. Plus, easily find business credit reports on your suppliers, partners or customers from our database of more than 27 million active U.S. businesses.

Learn why and how to establish business credit separate from your personal credit. Build and control your credit scores so that you can acquire the credit you need. Find out how your small business looks to potential creditors.

Avoid taking on a bad credit risk when contracting with another business. Experian gives you the framework you need to make complicated business decisions. Whether you need to verify that a new business exists or obtain a detailed payment history, we can help you determine whether to do business with a company.

Immediately run a credit check on any company, including your own. Make low or high-risk credit assessments with confidence. Choose the reports that you need to do what’s right for your small business. With Experian’s database of over 27 million active U.S. businesses, you’ll get company research reports on your suppliers or customers.

Understand your business credit report and score. Here we explain how suppliers, lenders and even customers use your credit report to assess your business. You ll find out why your credit score fluctuates, how long data remains on your report and why you need to separate your business credit from your personal credit.

Empower yourself to make the right business decisions.

  • Evaluate prospective suppliers, business customers and partners
  • Monitor your business relationships
  • Collect on outstanding debt

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Best Credit Cards for Small Business of 2015 #business #to #business


#small business cards

#

Best Credit Cards for Small Businesses

Francesco CorticchiA & Mdash;Getty Images

See this year’s top picks for budding entrepreneurs and established owners.

MONEY and NerdWallet have picked the best credit cards in five different categories: cash back. borrowing. travel rewards. student. and small business cards. Most of our picks assume you are using cards strategically to maximize rewards, and paying off your bill each month to avoid fees and finance charges. MONEY also went one step further this year to add an easy choice the best no-muss, no-fuss, no-annual-fee option.

Easy Choice: Capital One Spark Cash Select for Business

  • APR: 0% on purchases for nine months; then 13% to 21%
  • Annual fee: $0
  • Sign-up bonus: $200 after spending $3,000
  • Rewards: 1.5% cash back on all purchases
  • Why it s a winner: For stable, successful small businesses, Spark is an all-around winner, with no annual fee and cash back on every dollar spent. If your firm s outlay is $5,000 a month, for instance, you ll clear $2,000 back in two years, factoring in the $200 sign-up bonus. Add employee cards for free to boost your rewards.
  • Caveat: If your business maintains revolving balances, find a card with a lower financing rate.

Best for Borrowing: U.S. Bank Business Edge Platinum

  • APR: 0% on purchases and balance transfers for the first year; 10% to 18% after that
  • Annual fee: $0
  • Why it s a winner: The U.S. Bank Business Edge Platinum is ideal for bootstrapping startups, debt-carrying small enterprises, and other small-business owners for whom borrowing costs are paramount. It offers the lowest APR without incurring an annual fee. You also get a year s worth of runway to pay off big purchases or tide you over until cash flow picks up.
  • Caveat: With no rewards or sign-up bonus, this no-frills card is really only for businesses with ongoing debt.

See all of MONEY s picks:

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Business Credit Reports #business.officedepot.com


#business credit reports

#

Make Smarter Business Credit Decisions Here

Credit.net is quick and easy to use. The information is very straight forward and navigation is simple. There is no need to learn codes or rating systems as I have seen on other sites. I highly recommend credit.net as a simple, more affordable solution to your credit reporting needs.

Credit.net has helped our business tremendously by allowing us to do credit checks on current and prospective customers in an easy and efficient manner. The website is easy to use, and the best part is that there is no limit on how many times we utilize it.

I would highly recommend Credit.net. The company provides an excellent product at a fair cost. I work directly with Abby Glenn, a Senior Account Executive at Credit.net. Abby is very personable, professional and efficient. I enjoy working with her.

Credit.net is a quick and easy way to view Company credit ratings. It has been immensely helpful to us in determining who we give credit terms to and who we make COD.

We never have any issues and if I have a question my rep Chuck Liquori who is great and always helpful. He is my only vendor who calls periodically to check to see how things are going with the service. That goes a long way.


Tags : , ,

Free Company Credit Report and Credit Check – Creditsafe #window #cleaning #business


#business credit reports

#

Free Company Credit Report

Credit check one of your business customers for free

Creditsafe company reports are affordable, high quality credit reports giving you comprehensive information on your customers, suppliers and competitors.

The information within a Creditsafe report is updated daily and is sourced directly from Companies House, The Registry Trust, The London Edinburgh Gazette, Trade payment partners and a multitude of additional data sources from around the world.

Creditsafe company reports employ a system which rates companies from 1 -100 indicating the likelihood of a company entering insolvency in the next 12 months. High risk companies are highlighted in red whereas creditworthy companies are highlighted in green allowing anyone in the organisation to make informed decisions when extending credit or evaluating business opportunities.

To access a free company report simply complete your details using the form opposite.

Important Information: In order to receive your free company credit report you must supply a business email address and landline telephone number. Please note only one free report will be given per company.

What’s included in a company credit report?

  • Credit Rating Limit
  • Up to 5 Years Accounts
  • Full Director and Ownership details
  • Holding Subsidiary company details
  • Adverse CCJ Information
  • Payment performance information
  • Full registered company details
  • Companies House image documents
  • Email Monitoring and Updates

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Small Business Credit Cards #business #plans #samples


#business credit cards

#

Credit Cards

We may change APRs, fees and other Account terms in the future based on your experience with U.S. Bank National Association and its affiliates as provided under the Cardmember Agreement and applicable law.

U.S. Bank will increase your rate to a Penalty Rate if you: 1) Make payments 5 calendar days late twice, or 30 calendar days late once. 2) Make a payment that is returned; or 3) If you exceed your Credit Limit 2 times in 12 consecutive months.

The creditor and issuer of these cards is U.S. Bank National Association, pursuant to a license from Visa U.S.A. Inc. or MasterCard International Incorporated. MasterCard is a registered trademark of MasterCard International Incorporated.

© 2016 U.S. Bank National Association.

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Small Business Loans for Good, Average and Bad Credit #apply #for #a #business #loan


#small business loans

#

Credit Cards

Banking

Investing

Mortgages

Loans

Insurance

Credit Cards

Banking

Investing

Mortgages

Loans

Insurance

Small Business Loans for Good, Average and Bad Credit

Small business loans can be critical to your success as a business owner. Traditional banks are no longer your only option. From SBA loans to business lines of credit to invoice-based financing, you now have access to many options through online lenders. Find the business financing product that is best for you. Learn about loan/product types .

Business loan type

Expansion, longer-term investments

Business term loans

Large one-time expense

Business line of credit

Ongoing working capital expenses

Filling cash-flow gap

Showing 1 – 16 of 16

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Lender loan type

Min Credit Score

Bank loan

Min Credit Score

Apply Now on SmartBiz’s secure website.

Also recommended

Microloan

Min Credit Score

Line of Credit

Min Credit Score

Apply Now on LendingClub’s secure website.

Term loan

Min Credit Score

Apply Now on LendingClub’s secure website.

Also recommended

Personal loan

Min Credit Score

Term loan

Min Credit Score

Apply Now on Funding Circle’s secure website.

Also recommended

Business credit card

Min Credit Score

Term loan

Min Credit Score

Apply Now on DealStruck’s secure website.

Term loan

Min Credit Score

Apply Now on StreetShares’ secure website.

Line of credit

Min Credit Score

Apply Now on DealStruck’s secure website.

Line of Credit

Min Credit Score

Apply Now on OnDeck’s secure website.

Line of Credit

Min Credit Score

Apply Now on BlueVine’s secure website.

Invoice factoring

Min Credit Score

Apply Now on Fundbox’s secure website.

Cash flow loan

Min Credit Score

Apply Now on OnDeck’s secure website.

Invoice factoring

Min Credit Score

Apply Now on BlueVine’s secure website.

Line of credit

Min Credit Score

Apply Now on Kabbage’s secure website.

*Annual Percentage Rates (APR), loan term and monthly payments are estimated based on analysis of information provided by you, data provided by lenders, and publicly available information. All loan information is presented without warranty, and the estimated APR and other terms are not binding in any way. Lenders provide loans with a range of APRs depending on borrowers credit and other factors. Keep in mind that only borrowers with excellent credit will qualify for the lowest rate available. Your actual APR will depend on factors like credit score, requested loan amount, loan term, and credit history. All loans are subject to credit review and approval.

The government-guaranteed business loan program works with banks to offer low interest rates and long-term repayment. SBA loans offer low rates and long repayment terms. But the process is time consuming and the requirements are strict. Only those with great personal credit, strong business finances and the bandwidth to wait for funding should apply. – Loan amounts: $30,000 to $5 million – APR range: 7% to 8% – Good for: large one-time investments, purchasing real estate or equipment, buying existing businesses, refinancing debt

Online lenders offer term loans of up to $500,000. For a short-term loan, the repayment period typically ranges from six to 12 months, while a long-term loan’s repayment can extend up to 10 years or longer in some cases. – APR range: 7% to 98% – Good for: large one-time investments

A business line of credit provides you with access to flexible cash. Lenders give you access to a specific amount of credit (say, $100,000), but you don’t make payments or get charged interest until you tap into the funds. – Credit line range: $2,000 to $500,000 – APR range: 9% to 108% – Good for: managing cash flow, handling unexpected expenses and financing short-term business needs.

Invoice factoring lets your small business turn its invoices (the money owed by customers that has yet to be paid) into immediate cash. You sell the invoices to a factoring company, which then gets paid when it collects from your customers. If you’d rather maintain control over your invoices, invoice financing is an alternative to factoring. – Financing amounts: $500 to $500,000 – APR range: 11% to 64% – Good for: managing cash flow, short-term financing

Only about 1 in 5 businesses that apply for a loan from a big bank are approved. To solve that problem, we work with online lenders that specialize in making the loan application process simple. Plus, they’re faster and offer more competitive rates than many banks.

How does NerdWallet make money?

We make money when you get the funding you need. Some of the loan providers on our site pay us a referral fee when customers like you get approved for a loan. We always try to find the best option for you, even if we don’t have a paying relationship with that lender. We also actively turn down offers from lenders that we feel seek to take advantage of small business owners. Read more about how we make money .

We want to hear from you and encourage a lively discussion among our users. Please help us keep our site clean and safe by following our posting guidelines. and avoid disclosing personal or sensitive information such as bank account or phone numbers. Any comments posted under NerdWallet s official account are not reviewed or endorsed by representatives of financial institutions affiliated with the reviewed products, unless explicitly stated otherwise.


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