New ways of Banks and lenders can lend to small businesses without personal credit

SBA financing dealer, community banks, etc. they all need to see at least a 680 FICO credit score. The creditors have yet to use new ways of revising the business credit. I worked on “new ways” bankers / lenders might use when approving credit without the need for good personal credit.

What are the new ways that banks could approve credit lines with no credit check personal?

1. Banks / lenders could access various databases of business as Experian business sections to access how business owners pay their current credit.

2. Banks / lenders could access the DNB and watch the credit rating of the company and see who they are, how the company pays its accounts, and if the company has all the public folders.


3. Banks / lenders may offer to open a small line of credit with a certain guarantee.

4. Banks / lenders may charge a nominal fee for the business owner to access these files if the bank / lender was not a subscriber to credit services businesses.

5. Banks / lenders might call small business creditors if the company did not have a credit report to a credit services biz.

These are just a few ways the banks / lenders can approve credit to businesses. As a last resort, and if there is no data in any of these credit bureaus business, then “pull personal credit” for making a decision.

I have a service that will loan small business owners up to $ 1,000 in working capital and to report their payments so they can begin to establish credit biz without firing their credit. It’s not much, but it’s a start and perhaps through this service, other lenders will catch can and try harder.

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