![]() ![]() In fact, for loans of less than $100K at BDC, your credit score is the only requirement we look at.įor those in business for at least 24 months, the whole process for a loan under $100K takes place online. ![]() “Whatever tendencies you have on the personal side, you usually bring them to the business side.”įor loans under $350K, having a good personal credit score is the most important requirement for your application. Sound financial decisions in your personal life can help your eligibility-the opposite is also the case: “If you’re buying a boat and cars, and you have a lot of debt that you incur every year, that would be a red flag,” says BDC’s Wesly Joseph, who spent several years assessing borrowers both inside and outside BDC. Make sure you have this information before you meet with your banker, and that you’ve reviewed it, so you can be ready for any questions they may have.
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