How to Get a Business Loan with a Poor Credit Score
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Having a good credit score is very critical to getting a loan approval.
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Different lending institutions will ask for different documents from your business.
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A credit score of 600 is usually the minimum for banks to consider a loan application.
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Alternative lenders are easier to convince with a bad credit score.
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A bad credit score will tag you as a potential defaulter.
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Family and friends are probably the only ones that will not make use of your business credit score.
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Microloans are easy to get because of the small size of it.
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You can use your annual revenue record to source for loans.
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Family and friends may withhold their funds if your business is viewed as risky.
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Businesses less than three years old can use their business plan to source for loans.
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Read the full article: https://businessloans.wordchapter.com/howto-get-a-business-loan-with-a-poor-creditscore/
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