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How to get a business loan with a bad credit score BDC.ca.But a bad rating makes it harder and might slow down the process. Work to improve your credit score. You can take a number of steps to improve your credit. For example, Curtis advises entrepreneurs to avoid getting too many credit cards and using one credit card to pay debt on another. He also says its important to pay bills on time to build up your credit history. Credit rating isnt everything, its a model and its an indicator. Meadowvale Business Centre. You can find these steps and others in this article, with advice on improving your credit so you can get the loan you want down the road. Most of all, Curtis says, its important to remember that credit scores are only one of the many tools used by banks when assessing a business loan application. Credit rating isnt everything, its a model and its an indicator. While we dont want to make too many loans at a lower threshold, we do make some to good clients when it makes sense. |
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