Women are becoming more and more active in the lending industry today. It is not longer simply the responsibility of the man of the house to handle financial affairs. In fact, statistics show that in most households, it is the female that is in charge of financial activity.
Business Credit Is One Of Its Key Assets When It Comes To Its Success
Business credit is one of its key assets when it comes to its success. Having the financial means necessary to effective grow when needed, market when needed, carry out plans when needed, and cover unforeseen expenses when needed is the groundwork to its viability.
Entrepreneurs Don’t Have Average Credit Scores
Fair Isaac, the company that develops the formula to determine credit scores looks at the average statistics of consumers and factors that into your score, called a (FICO). According to Fair Isaac the average consumer will have:
· One inquiry on their personal credit report in a given year
· 54% of credit holders carry a balance of less then $5,000 on all debts other then a mortgage
· Have access to $12,190 on all credit cards combined
Why Business Credit Is A MUST For Every Business Owner!
Entrepreneurs typically make one or more financially devastating mistakes when financing the launch, operation and/or growth of their businesses. In most cases, they dont realize that theyre making a mistake.