Tag: credit

Business Law & Regulations, Finance

Regulation B (Reg B) Definition

August 25, 2022

Via: Investopedia

Understanding Regulation B (Reg B) All lenders are required to comply with Regulation B when extending credit to borrowers. Reg B implements the Equal Credit Opportunity Act (ECOA), which is regulated and enforced by the Consumer Financial Protection Bureau (CFPB). […]

Business Law & Regulations, Finance

CFPB Issues Final Rule Addressing LIBOR Transition

December 8, 2021

Via: LexBlog

On 7 December 2021, the Consumer Financial Protection Bureau (“CFPB”) issued a Final Rule to facilitate LIBOR transition, via amendments to Regulation Z. The amendments take effect on 1 April 2022, and compliance becomes mandatory on 1 October 2022. Financial […]

Financing your Business

What’s the Minimum Credit Score for Business Loans?

September 17, 2019

Via: Fit Small Business

Business owners need a credit score of 620 or higher to have access to a variety of financing options. 550 is the minimum for even basic financing that’s not cost-prohibitive. Business loans may be available for lower scores, but they’ll […]

Business Law & Regulations, Finance

Term Loans vs. Lines of Credit: Which One Is Right for Your Business?

October 11, 2018

Via: Entrepreneur

When your business needs to funding to grow, bridge cash flow gaps or take advantage of a can’t-miss opportunity, where do you start? For business owners, there are more options than ever for financing. Whether through the traditional route of […]

Financing your Business

Revolving Credit: How To Get Extra Cash For Your Business

March 24, 2017

Via: Fit Small Business

Revolving credit can be a lifeline when your small business faces an emergency, or simply needs extra cash for unexpected short-term purchases. There are two main types of revolving credit: business lines of credit (also called revolving lines of credit) […]

Business Law & Regulations, Finance

How to Check Your Personal and Business Credit Scores with Nav

February 22, 2017

Via: Fit Small Business

Most small business owners are familiar with their personal credit score, but many don’t know that their business also has a credit score. Together, personal and business credit impact whether you’ll qualify for loans and leases, get favorable terms from […]