Your FICO score is 300, congratulations! Even though that type of score would bad in the consumer world, in the business world a FICO of 300 is exceptional. How much do you know about your FICO SBSS score?
You should know a lot about it as it’s now become one of the major scores used by lenders and credit issuers to determine your loan approval, including SBA on most 7(a) loans.
During this show you’ll discover…
Why the FICO small business score has been around since 1993 but it’s just now become so relevant
What the SBSS score is, how it really works, and why you should care
How all of the most popular SBA loans now use the FICO business score to determine approval… and what score you’ll need to get approved
Why your personal credit has such an impact on this score, and how your business credit has now become more important than ever before
The 5 step process that is used to calculate a FICOSBSS score and where the data comes from to generate the score… knowing this can give you unprecedented ability to control your scores
The FICO SBSS score range, how to get your score, and how to know if your score is “lendable” with most lenders and credit issuers
11 core factors that make up your FICO SBSS score, and over 60 factors that D&B alone uses to supply data to create the SBSS score
Different SBSS score models that you might see and impact your business
How the SBSS score is being used to evaluate higher-dollar loan amounts and why
How credit issuers can choose the combination of data that’s used in the score such as your personal versus business history
The SBSS Credit Offer Index, how it works, and why it’s used to determine how much money you’ll be approved for
A look at the past SBSS score compared to the newest 7.0 score and how it affects you
8 major banks and lending sources who are using SBSS now to determine your loan approval
5 things you can do right now to insure you have a good FICO SBSS score
And much more…
In this 30 minute show you’ll get all of the insight and details on how your FICO SBSS business score works, and most importantly how you can control is.
