Your top commercial loan rate from Prime Rate Premium Finance requires a good credit score. A low score for your business creates a high (& expensive) rate. The good news? Fixing errors on your credit report can raise your score (fast). Fixing them yourself is possible, but a faster (& easier) way is hiring a repair expert, like Credit Glory.
Commercial loans from Prime Rate Premium Finance can be expensive (w/ a low credit score)
Prime Rate Premium Finance offers commercial loans — which are crucial to businesses. Commercial loans boost cash flow and allow your company to expand. The problem? Unless you have great credit, your options dwindle and interest rates skyrocket. A low credit score severely limits your business to high (& expensive) interest rates.
If your score is low, it may not be your fault. Wrongly reported (or outdated) information on your report causes your score to slump. If this is the case, you can fix these errors and quickly boost your score. You could do it yourself (if you like tedious work). The better way? Save yourself the time (& hassle) with help from a reputable credit repair company, Credit Glory. They help you find (& fix) errors in your report (boosting your score).
Your credit score & why it matters (for your commercial loan)
The rate on your commercial loan depends on many factors. The most important? Your credit score. Ensuring credit report accuracy is trickier than you may think. Constantly checking information for correctness is hard work (& it takes time away from your business). The worst part? Mistakes on your credit (even if you don’t know about them) ruin your score. What can you do? You could fix the issues on your own — or you can focus on your business & let the experts in credit repair at Credit Glory help you out (saving time & money)!
3 ways a better credit score helps your business
Bad credit leaves you with higher, costly interest rates. Lenders see your borrowing history, any debt, and missed (or late) payments. The biggest problem? Negative marks in these areas cause your rates to jump (even if they are falsely reported) — yikes! On the other hand, good credit opens many doors like:
- Commercial loans on your terms - Having good credit opens to the door to more options and better terms for your loan. That way you're saving money with a low rate.
- Bigger loans (so your business can grow) - Increase your eligiblility for larger loans—which are essential for growing your business. Having access to the money you need keeps your business going strong.
- Access to competitive rates - Get better options and competitive rates with a strong score. A good credit score puts you in control to negotiate for the best terms on your loan.