Each time you apply for a business credit card or bank loan, the creditor (the institution issuing or extending credit), will look at your credit report to determine whether you are a low risk opportunity. Each time someone other than you pulls your credit, it shows up on your report as an inquiry. This [...]
Banks don’t have concrete loan policies. Banks do have some general lending guidelines but they change frequently based on a number of factors. One factor is the past performance of loans. If a bank has been burned by a large percentage of their clients on certain loan products, they will either tighten [...]
Once in a while I’ll have a client email me his financial statements for review before we submit a file to a lender for funding. Unfortunately, most of the time the format, the categories, the titles and everything in between is a disgrace to financial reporting and is embarrassing to all of us nerds who [...]
