Imperfect credit: can your file be presented?
An imperfect credit score does not stop a file from being presented: commercial lenders read the business’s deposits first. Each lender has its own credit criterion and decides alone.
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- Does imperfect credit stop a file from being presented?
- Not in itself. Commercial lenders read mostly the business’s actual deposits; each lender still has its own credit criterion, and it is the one that decides.
- Will my credit be checked?
- Not while you apply on our site. A lender may check your credit file before making an offer, only with your authorization.
- Does a credit check affect my score?
- It may, when a lender checks your credit file with your authorization. Your file is presented only to the lenders you authorize.
- Which product relies least on the credit score?
- Revenue-based financing rests first on your deposits, and factoring on your invoices and your clients. A line of credit usually asks for a stronger score, at the lender’s discretion.
- Is the cost higher with imperfect credit?
- It can be: the lender sets its cost according to the risk it reads in the file. That cost is written in its offer, which you are free to decline.
What the lender looks at
- Actual deposits, month by month
- What the business takes in is read before the credit score.
- Days in overdraft
- A frequent overdraft is read as a sign of strain, whatever the score.
- NSF cheques
- A returned cheque in the statements weighs on the file.
- Payments to other lenders
- Commitments already running, and how regularly they are paid, show in the statements.
$0 upfront · 7% only if funded
An intermediary, not a lender.
The lender sets the final amount and its cost in its written offer.
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