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:
- 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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