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Yes, any form of financing can effect your credit score because it is considered as having debt. Here is a useful link to give you more information for any other questions you may have: www.experian.com/credit-education/credit-score-faqs.html

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11y ago

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What If I Can't Qualify For A SBA Loan?

There are many other business financing programs to select from, such as financing programs made for businesses with bad credit ratings.


Does in-house financing impact your credit score?

Yes, in-house financing can impact your credit score. When you use in-house financing to make a purchase, the lender may report your payment history to the credit bureaus, which can affect your credit score positively or negatively depending on how you manage the payments.


Does your credit score affect the interest rate when you apply for home financing?

Your credit score can possibly affect your interest rate when you apply for home financing. If you have a low credit score, you are considered a higher risk to the bank, and therefore, they may raise your interest rate.


Can you provide some examples of business loans that are available for small businesses?

Some examples of business loans available for small businesses include SBA loans, term loans, lines of credit, equipment financing, and invoice financing.


How does a bad credit loan affect a person?

Having a bad credit loan negatively affects a person in many ways. Having bad credit enables a person from being able to obtain other loans including those having to do with home financing, vehicle financing, etc.


What are some examples of business loans available for small businesses?

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How do you bounced checks affect your credit score?

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