Did you know that lenders, contract awarders and others are pulling your business credit scores prior to making an offer. This scoring is available within seconds.
Do you know how you look to others?
FICO’s Small Business Scoring Service (SBSS) rank-orders applicants by their likelihood of making payments on time.
The score ranges from 0 to 300.
The higher the score, the better. The scoring can use both personal and business credit data and other financial information.
A strong history of business credit with timely payments to vendors and suppliers may help boost your SBSS score.
The FICO SBSS score will be used for term loans, lines of credit, and commercial loans up to $350,000 from lenders the Small Business Administration. The minimum score to pass the SBA’s pre-screen process is currently 140.
