At Camino Financial, we are a small business lender committed to helping business owners, not only financially, but by giving them the knowledge and tools they need to succeed and grow their businesses. That’s why we work hard to help people like you improve your credit.
After all, having a good credit history is crucial.
We know that a good credit score can go a long way in helping you take your business to the next level, and we want to make sure we help in any way we can.
Let’s take a closer look at everything there is to know about how you can improve your credit score.
It takes time to build a healthy credit score
A credit score can sometimes be a Catch-22 situation. You need a good credit score to obtain loans and financing to invest in your business. But to get a good credit score, you need to have been extended credit (and paid it on time).
Many small business owners like you may be in this exact position. You need financing to help your business, but you don’t have a good credit score because you can’t get financing to work on it.
That’s why we started Camino Financial—to help people just like you. We offer affordable capital to small businesses with no credit history and low credit scores, as long as you have no past-due debts.
We are ready to be your financial partner. Let’s improve your credit score together!
What is the credit score?
A credit score is a number that helps lenders know the likelihood of you paying your bills on time. The higher your score is, the more favorable the terms of your credit will be. Your credit score will be a three-digit number between 300 and 850.
Your credit score dictates if you get approved for a loan or not. But where does it come from? Learn everything you need to know about the 3 credit bureaus. [Keep reading…]
Hard pull vs soft pull: how does each affect your credit? Who and in what situations are they used? Learn here the differences between these two types of credit checks. [Keep reading…]
Learning your 5 C’s of credit will put you in the best position possible to receive funding for your business. What are you waiting for to master them? [Keep reading…]
The importance of the credit score
All small business owners must know what a credit score is, how it works, and how it will affect their business.
Having a high credit score will give you access to loans and capital that you may need to build and grow your business for the long term.
Having a low credit score can dramatically affect your business in a negative way.
A good credit score increases your chances of getting a loan and with better terms, but that’s only the beginning! Find out here all the benefits of a good credit score. [Keep reading…]
When it comes to applying for a business loan, this is the basic principle: the higher your credit score, the lower the interest rate you’ll pay. What interest rate could you expect with your current credit score? Find out here. [Keep reading…]
Are you applying for a loan? A good credit score is one of the main business loan requirements. But how does your score determine the type of loan and terms you’ll receive? Find out here what your credit score says about you. [Keep reading…]
Good credit is a tool that opens up financial opportunities. When buying products or services, or when getting a business loan, good credit is vital. Learn here all the elements of a good credit score. [Keep reading…]
Understanding the differences between personal credit score, business credit score, and business credit profile will allow you to have a better insight into your business and access cheaper capital. [Keep reading…]
Safeguarding your credit score is very important, and if you think your credit information is at risk, you can use credit freeze to protect it. [Keep reading…]
How to create a credit history
There are several ways that you can create a credit history. Generally, you build a credit history when you take a loan that charges interest. The most common form of this is secured credit cards.
You can also build a credit history through student loans, auto loans, or a secured loan. You can even request the credit bureaus to take into account your on-time payments of rent and utilities.
It’s crucial that you know how to build credit for your small business. It will allow you to access financing and keep growing. Learn how to strengthen your credit. [Keep reading…]
Building your business credit score takes some really great practices that you can implement right now so that you can strategically position your business to access affordable capital. [Keep reading…]
Do you lack a credit history, but you’re ready to start building it? We’re sharing with you a list of the best credit cards to build credit. [Keep reading…]
Having bad credit or no credit might feel like the end of the world, but there are still several options to fix this problem. The Amazon Credit Builder Card is one of them. [Keep reading…]
Credit cards offer a lot of benefits. But when you acquire a card, you need to choose between two broad categories—secured vs unsecured credit cards. [Keep reading…]
How to improve your credit score
There are many ways you can improve your credit score. The easiest is to pay all your current loans and bills on time. If you don’t have a credit history, open a credit card, charge some items to it, and pay your bill on time.
Learn how to improve your credit score so you can access better financing opportunities. You will improve your credit score as much as 60 points in just 60 days! [Keep reading…]
You can strengthen your business by learning how to improve your business credit and make sure you have access to financing. Here you can learn how to do it. [Keep reading…]
If you are wondering how long do hard inquiries stay on your credit report, and how to minimize their impact, you are in the right place. [Keep reading…]
Bankruptcy can be a tough thing to go through, but it’s not the end. If you know how to rebuild credit after a bankruptcy, you can also start rebuilding your future. [Keep reading…]
A late payment can harm your credit report, thus decreasing your chances of getting a loan. But wait! You can remove late payments from your credit report. Here we’ll show you how to do it. [Keep reading…]
To improve your business credit score takes time and patience, but it’s not as hard as you might think, especially if you know how to do it. These steps will help you get started today. [Keep reading…]
Financing alternatives for bad credit
If you have bad credit and you need capital, you can still get it. There are many alternatives out there that will give you the financing you’re looking for.
Word of advice: these options for bad credit are not the best ones as they tend to be very expensive. It will always be better if you start strengthening your credit so that you can access cheaper and better alternatives.
A bad credit score can be a disadvantage if you’re trying to get a business loan. There are still some options, but which is the best one? [Keep reading…]
Do you have bad credit and you need to finance something? Don’t worry! You can still access some credit cards. This is our selection of the top credit cards for bad credit. [Keep reading…]
What affects the credit score?
Credit scores are affected by your total amount of debt, the length of your credit history, and your payment history. The less debt you have, the longer you’ve had a credit history, and the more you pay on time, the better your credit score.
We all worry about our credit scores. But, what do the various credit scores mean? What determines your credit score? How can we ensure that we have good credit scores? [Keep reading…]
“Why did my credit score drop?” is a very common question amongst business owners. Learn the most common reasons and how to solve them. [Keep reading…]
Your credit score will determine your creditworthiness when you apply for a loan. Therefore, it’s crucial that you know what affects your credit score and the behaviors that could be lowering it. [Keep reading…]
Your credit score ranges from 300 to 850. The higher it is, the more chances you have to access financing with the best terms and interest rates. [Keep reading…]
Personal credit vs business credit: what’s the difference?
Personal credit has to do with any bill and loan that is in your name. This includes personal auto loans and personal credit cards, for example. Your business will also have credit, and that will consist of loans you take in the business’s name.
It’s essential to understand the differences between the two. While your personal credit will come into play at times when you’re seeking a business loan, lenders will also look for your business’ credit score.
When you run a company, you need to know the differences between business credit and personal credit. They involve different elements, and they are built and calculated in different ways. Learn here all the differences! [Keep reading…]
A solid business credit score can grant you access to business loans, better terms and conditions, and other business opportunities. But how can you build business credit fast and as soon as possible? [Keep reading…]
Knowing the main business credit bureaus and understanding what they do can help you work on your business credit, thus improving your chances of getting a business loan. [Keep reading…]
How to check your credit score
It’s easy and free to stay on top of your credit score. You can do so through the three main credit bureaus—Experian, TransUnion, and Equifax. You can also go to annualcreditreport.com and get a free credit report once a year.
It’s essential to monitor your credit score so you can see what challenges you may have, and how you can address them to improve your credit score.
Has your credit score changed since the last time you checked? One of the best credit monitoring services can update you about any changes and help you keep track of the progress of your credit. [Keep reading…]
When you order your annual credit report, you are asked to provide some sensitive information online. You may ask yourself: Is requesting my annual credit report safe? [Keep reading…]
Credit Karma is a great tool to stay on top of your credit score for free! Learn how to use credit Karma and how to read your report. [Keep reading…]
Can I get a free credit report? Yes, you can! Getting your credit report is vital to stay on top of your finances. Here’s how to get your FREE credit report. [Keep reading…]
When you know how to read your credit report, you are better positioned to work on your credit score. This is vital when you’re applying for a loan. We show you how to read your credit report here, section by section, and step by step. [Keep reading…]
Improve your credit score: Camino Financial can help you
Even if you don’t have a credit score or a credit history, you can apply for a loan with Camino Financial. This will help you as a small business owner in two ways.
- First, it’ll give you access to the capital you need.
- Second, it’ll help you build your personal and business credit for the future.
We report all of your payments to the credit bureaus so that you can build a strong credit history. It’s just one way we live up to our motto of “No Business Left Behind.”
To see how we can help you, calculate your loan today.