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Sean Salas
By: seansalas
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Everything You Need to Know to Improve Your Credit Score

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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. 

The 3 credit bureaus: their reports and credit scores

Senior man typing on laptop with a credit report and credit freeze option on desk. concept: 3 credit bureaus

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…]

 

Credit Check: Hard Pull vs Soft Pull

Young loan applicant on laptop reviewing documents. Concept: hard pull vs soft pull

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…]

 

What are the 5 C’s of Credit?

Credit application with Approved stamp. Concept: 5 C's of credit.

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. 

Why Do I Need a Good Credit Score?

Young woman signing contracts and handshake with a manager. Concept: good credit score.

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…]

 

Credit Score And Interest Rate: How Are They Related?

Woman hand using mobile phone and showing dollar signs. Concept: credit score and interest rate.

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…]

 

Business Loan Requirements: Your Credit Score

Business owner and bank representative shaking hands in bank branch to close a deal, to illustrate idea of business loan requirements

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…]

 

Why Good Credit Matters

The importance of having good creditGood 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…]

 

Understand Your Business Credit and Get Access to Cheaper Capital

Hands counting dollar bills and coins on table. Concept: capital resources

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…]

 

What is a Credit Freeze? Can It Protect Your Credit? 

Laptop with Freeze on the red key by credit score report as concept for new law allowing free credit freezes with agencies. Concept: credit freeze

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.

How to Build Credit for Your Small Business

Computer showing a credit history report to express the idea of "build credit" or "construir crédito"

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…]

 

How to Build Business Credit

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…]

 

The Best Credit Cards to Build Credit

Portrait of a Hispanic young man dressed casually and holding his favorite credit card against a white background. Concept: Best Credit Cards to Build Credit

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…]

 

How Does The Amazon Credit Builder Card Work?

Young handsome man thinking about online shopping , wearing gray t shirt, standing against textured wall with copy space, holding credit card and cell phone. concept: Amazon credit builder card

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…]

 

Secured vs Unsecured Credit Cards: Which One Is Better For Your Small Business?  

stack of multicolored credit cards, close up view with selective focus. concept: Secured vs Unsecured Credit Cards

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.

How to Improve Your Credit Score

Woman checking her credit report on a paper copy and on computer screen. Concept:How to improve your credit score

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…]

 

How to Improve my Business: Credit Score and Financing

how to build business creditYou 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…]

 

How Long Do Hard Inquiries Stay on Your Credit Report?

Close up of credit report on desk. Concept: How long do hard inquiries stay on your credit report?

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…]

 

How to Rebuild Credit After a Bankruptcy

Closeup on notebook over wood table background, focus on wooden blocks with letters making Bankruptcy word. Business concept image. Laptop, glasses, pen and mobile phone in a defocused background. Concept: rebuild credit

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…]

 

Can You Remove a Late Payment from Your Credit Report?

Clock, stacks of coins and calendar with a payment due date, to illustrate the idea of removing a late payment from a credit report.

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…]

 

3 Steps To Improve Your Business Credit

personal credits cards for small business

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.

How To Get A Business Loan With Bad Credit

Poor credit score report on wrinkled paper. Concept: How To Get A Business Loan With Bad Credit

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…]

 

Best Credit Cards for Bad Credit

View from the back of a girl standing in shopping centre walking area and holding credit card. Concept: credit cards for bad credit

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.

What Determines a Good Credit Score 

good credit, loan approved

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…]

 

Habits That Lower Your Score and How to Solve Them

3D illustration of a conceptual gauge with needle pointing to very bad scoring. Business credit score concept. concept: Why Did My Credit Score Drop?

“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…]

 

What Affects Your Credit Score? 5 Behaviors with a Negative Impact

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…]

 

6 Harmful Habits for your Your Credit Score

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.

Learn the Difference Between Business Credit and Personal Credit

business credit, personal credit

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…]

 

How To Build Business Credit Quickly

Smiling young female florist standing in her flower shop checking online orders with a digital tablet. Concept: how to build business credit.

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…]

 

Business Credit Bureaus: What Are They and How Do They Work?

Businessman desk with paperwok and calculator, to illustrate the idea of business credit bureaus

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.

Keep a Close Eye on Your Credit Score: Best Credit Monitoring Services

Female business owner using a credit monitoring service

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…]

 

Is Requesting an Annual Credit Report Safe?

Data Security system Shield Protection Verification. Concept: is requesting your annual credit report safe?

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…]

 

How To Use Credit Karma to Check your Credit

Man Holding Smart Phone Showing Credit Score Application On A Screen. Concept: how to use Credit Karma.

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…]

 

Where Can I Get a Free Credit Report?

Credit report with score on a desk. Concept: free credit report.

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…]

 

How to Read Your Credit Report

Couple of coffee store owners reading on laptop standing at the counter of the shop. Concept: how to read your credit report.

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. 

  1. First, it’ll give you access to the capital you need. 
  2. 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.

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