How is a Finance Payment Calculated
What is your payment based on for a financed project? Your Credit Score? That is one factor, but there are many more issues that are considered.
Customer payments are calculated with many factors in mind, such as
- Time in Business - A business that is two years or older will have more favorable consideration.
- Type of Business – Is the business a home based or sole proprietor business? These may end up being considered a personal loan.
- Thin Credit, Limited Credit or New Credit- This has an adverse impact on ratings.
- Liens and Judgments- Even if paid off, these may affect decisions for 7-10 years.
- Bankruptcies- Depending on the type of filing, this may appear for 7-10 years, even if not related to your current business.
Our team of finance professionals work with a variety of lending sources to match your profile and parameters to the right lender for you. This means working harder to find the best rates.
Ask us how you may finance your project!