Improve your Personal Credit Score and Get Approved!

Personal credit score is one of the most important things a lender cares about when giving out unsecured business loans.

As a result countless business owners who’ve applied for loans have gotten turned down. When it happens, they all ask the same questions….

Your Questions

Why did I get turned down? And

How can I ensure that I get approved? And get the highest possible amount?

But how do I Build my Personal Credit Score?

They’re told that they’ll get a letter in the mail explaining why they got turned down. Have you ever received one of those letters? If so, you know that they’re extremely vague.

It often just frustrates business owners even more since they don’t really know what to do differently to make sure they’re approved the next time.

I’m here to give you some…

Real Answers

Why did I get turned down?

The number one reason business owners get turned down for business loans is bad credit.

The other primary reason business owners get turned down is due to poor business income and/or business stability.

How can I ensure that I get approved? And get the highest possible amount?

Here’s the 3 step process that I recommend:

The first two steps will help you get money now while you’re getting your personal credit in order.

But how do I Build my Personal Credit Score?

Here are 10 practical suggestions:
  • Maintain a 10% - 30% debt to credit ratio.

  • For any and all inaccuracies you notice on your credit report, make disputes with the credit bureaus. Even if it’s as small as an incorrect dollar amount, account number or dates.

  • Recognize that the entry can be completely removed because of ANY inaccuracy.

  • If you are a busy business owner, it would be wise to hire a reputable Credit Restoration company to make the disputes for you. You’d be surprised at all of the bad entries they get removed as a result of small inaccuracies.

  • Also, I highly recommend that you hire professionals to help you if you have negatives on your credit such as bankruptcy, collections, judgments, and liens.

  • Make a commitment NOW to start paying all of your bills on time.

  • If you can’t afford to pay them, contact your creditors (if appropriate) and work out payment arrangements that will work for you both.

  • Recognize that it’s not always appropriate to contact a creditor that you haven’t been paying!!! To know which creditors to keep avoiding like the plague talk to a reputable Credit Restoration company.

  • If you feel you don’t want to contact and negotiate terms with your creditors. Or If you feel you don’t have the skills to do it yourself, hire a reputable Debt Settlement company to do it for you.

  • (By the way, debt settlement could cause damage to your credit report and credit score in the early stages.) So, if you need both, the best thing to do is double team it! Hire a company that does both Debt Settlement and Credit Repair.

I’m confident that as you follow the 3 step process and the 10 practical suggestions above, your personal credit score will improve right along with your ability to get approved ;-)

P.S. - Another primary reason business owners get turned down is due to poor business income and/or business stability.

More than how long you’ve been in business this really is about how long you’ve been earning income. And about how much of it you’ve earned.

For more detailed information on how your net income effects your ability to get an unsecured small business loan click here.

P.S.S. - Quality business credit services have built in techniques that will also help you to build...

  • Your personal credit rating and

  • Your income stability

Return from Personal Credit Score to Business Loans

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