If you are planning a startup business or looking to open a new business without cash then financing your project with a business loan with LendingTree’s network is a great next option.
You may not be aware that your venture has its own credit profile, but it’s likely that it does — and that lenders may want to view it before approving your application. Just as you would with your own credit report before applying for a personal mortgage, pull your company’s files from the main bureaus before engaging in the loan process.
Doing so may reveal errors you can challenge, and can also allow you to prepare in advance explanations for any negative information. If you pull your file early enough, you may find strategies that let you boost the score before completing your application.
By the way, if you plan to engage with other companies in relationships that are important to your business, it’s a good idea to pull their credit profiles before you sign deals. You need to know with whom you’re partnering.