When you apply for a business loan, the lender will check both your personal credit report and your personal credit score. But do you know what’s what? This is a question we often get asked by clients at FitBiz Loans, and it’s important to avoid confusion. In this article, we’ll explain the key differences between […]
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Can a Business Loan Cosigner Help You Get Approved?
Having bad credit can be a big obstacle to getting a business loan, and you may wonder if having a cosigner can help. The answer is sometimes. In this article, we’ll explain when having a business loan cosigner can help you get approved for financing. When You Should Get a Business Loan Cosigner Lenders take a […]
How Your Business Partner Can Help or Hurt Your Ability to Get Financing
Having a business partner can be great when you have complementary skill sets or want to bounce ideas off each other, but a partner can also hurt your ability to get a business loan if he or she has a low credit score or low income level. In this article, we explain how a business […]
Checklist: Questions to Ask When Buying a Business
Buying a business can be a complicated process. There are a lot of things you need to find out to evaluate if the deal is a good one. Click here for our 5-Step Checklist: Questions to Ask When Buying a Business After reading this checklist, you will walk away knowing what to ask to prevent buyer’s […]
7 Steps to Turn Your Idea Into a Fundable Business
At FitBiz Loans, we speak with people everyday who have a great business idea and come to us in search of financing. Unfortunately, you can’t get financing based on an idea alone. In this article, we’ll tell you 7 steps you need to take to go from an idea to a fundable business. 1. Know […]
6 Steps to Getting Semi Truck Financing
Many truck drivers dream of leaving behind the safety of a weekly paycheck for the dynamic, entrepreneurial life of an owner-operator. It can certainly be rewarding to strike out on your own, but being an owner-operator means having your own business and comes with new responsibilities. To begin with, you’ll have to obtain semi or […]
Writing a Business Plan Made Easy
Whether you’re starting a new business, buying a business, or have had an established business for years, you need to have a good business plan if you’re on the market for a business loan. The idea of writing a business plan intimidates a lot of small business owners, but a modern business plan can actually […]
Small Business Loan Application Checklist
Getting a small business loan can take awhile, particularly if you’re borrowing money from a bank. To speed things up, it’s best to gather and organize all the paperwork you’ll need in advance. Below is a handy checklist for your small business loan application! Keep in mind, this checklist is designed for conventional bank loans and […]
Your Business Credit Score - The Ultimate Guide
Most business owners know their personal credit score. But according to a survey by Nav, nearly half of small business owners don’t know that they also have a business credit score, which measures how well the business pays its bills. Having a good business credit score can help you qualify for low rates on a business loan […]
How to Improve Your Credit Score
Your personal credit score has a big impact on your ability to get business financing and how much you will have to pay. Check your credit score here for free, then compare it with the credit score typically needed to qualify for popular types of business loans: SBA Loans and Bank Loans - Above 650 […]
