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.
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