What type of credit score is needed for a business loan?

A business owner with a high credit score who owns a business with a healthy credit history will be at an advantage when it comes to applying for a business loan. 

Although an ideal credit score does not exist because every business is different, it is worth noting that both your personal and business credit play a role in being approved for a business loan. 

Lenders will use your credit information to determine your creditworthiness as an individual and the business’s credit history as a way of assessing its status of repaying debt. 

Read other Q&As

• What are the minimum requirements to qualify for a business loan?
• What information do I need to provide to get a business loan?
• What type of credit score is needed for a business loan?
• Can I get a business loan after having declared bankruptcy?
• Do I need a business plan to get a business loan?