A Strong Business Credit Score Can Help Businesses Get Ahead, Says Liberty
MELBOURNE, Australia, May 30, 2022 (GLOBE NEWSWIRE) -- For businesses looking to take the next step forward, access to financing can be an essential component of their growth potential. However, Liberty says that many borrowers are unaware of business credit scores and how they can help them to secure a business loan . According to a recent survey, less than 10% of Australian businesses have checked their score - despite being easily accessible online via credit reporting agencies like Equifax or Credit Simple. According to Head of Communications Heidi Armstrong, a higher credit score can provide greater business loan options, so it''s important to understand the score. "Much like how a personal credit score can affect your individual borrowing capacity, a business credit score can impact your ability to secure a business loan." "Scores range from 0 to 1200, with a higher number indicating a stronger credit score and a greater borrowing ability." Providing an overview of a business''s financial health, a credit score will include the business credit history, as well as any recent credit inquiries, previous loan defaults or missed payments.
A Strong Business Credit Score Can Help Businesses Get Ahead, Says Liberty
MELBOURNE, Australia, May 30, 2022 (GLOBE NEWSWIRE) -- For businesses looking to take the next step forward, access to financing can be an essential component of their growth potential. However, Liberty says that many borrowers are unaware of business credit scores and how they can help them to secure a business loan . According to a recent survey, less than 10% of Australian businesses have checked their score - despite being easily accessible online via credit reporting agencies like Equifax or Credit Simple. According to Head of Communications Heidi Armstrong, a higher credit score can provide greater business loan options, so it''s important to understand the score. "Much like how a personal credit score can affect your individual borrowing capacity, a business credit score can impact your ability to secure a business loan." "Scores range from 0 to 1200, with a higher number indicating a stronger credit score and a greater borrowing ability." Providing an overview of a business''s financial health, a credit score will include the business credit history, as well as any recent credit inquiries, previous loan defaults or missed payments.