YOUR CREDIT

What Major Factors are Considered in Granting Credit?

TIME IN BUSINESS

 One of the most important aspects of credit is Time In Business. Two years in business is usually considered the normal minimum.

The formal date is established when you file papers with the County, City or Secretary of State.  But many lenders consider the date you opened your business bank account as your start date. Other lenders consider what D & B reports as your start date.

YOUR CREDIT BUREAU SCORE

An individual credit score (BeaconÒ or FICOÒ) is an indicator of just how likely you are to pay back a loan or lease as contracted.  The higher your score, the lower the risk to the creditor. Most funding sources consider scores above 650 to be acceptable risk.

You can purchase your score on the Internet.  Go to www.myFICO.com or www.equifax.com.

GENERAL CREDIT CRITERIA

AmeriTel Financial Services, Inc. makes every effort to find the positives and aggressively approve your transaction.

Personally Guarantee               

You already stand behind your business. A Personal Guarantee puts it on paper. Expect to Personally Guarantee every time you purchase a major asset. The exceptions are privately owned firms with seven plus years in business and all publicly traded companies.