Your personal credit score is one of the most important factors lenders look at when deciding whether to give you a business loan. A low credit score can make it difficult to get approved for a loan and can lead to high-interest rates and other penalties. In this article, we’ll discuss how to get a business loan with bad credit in 2023. Let’s get started!
What Do Lenders Consider Bad Credit?
A bad credit score is typically considered a credit score that is below 580. A bad credit score can make it difficult to get approved for a loan and can lead to high-interest rates and other penalties.
Bad credit is often the result of missed payments, bankruptcy, or maxing out credit cards. When evaluating a borrower’s creditworthiness, lenders consider several factors associated with bad credit.
Here are some key aspects that lenders take into account:
Dispatches From The Front 