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Exploring Commercial Option Pt.3

Following on from our article last week; SME Finances will be detailing the ‘ins and outs’ of not only what considerations should be analysed but what steps should be taken when making submission.

  • Have you checked your business credit profile?

As you would imagine, your personal and business credit profile are both assessed by a lender as part of the underwriting process. Those variables will ultimately effect several facets of the loan terms, most notably:

  • Duration
  • Rate of interest
  • Loan amount

There are several websites that provide a free credit checking service so please do the homework on your business. With the report in tow, you will be far better equipped to rectify any negatives and hopefully secure a better product for your business.

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