Small Business Credit
Establishing Business Credit
Business credit is integral to business growth. Like your personal credit score, your business credit rating vouches for your financial stability. A high credit score will typically boost your purchasing power and might make you eligible for lowered interest rates. Developing and maintaining your business credit needs to be a priority.
Select Business Credit can help!
Select Business Credit offers lines of credit for your small business. See our guidelines below and start building your business credit today!
Credit Policy Guidelines:
$5,000 - $75,000– Application only.
- 2+ years time in business with current management.
- Bank reference- minimum high 4 figure (required for "C" Credits Only).
- Credit bureau reports, 5 year history, no derogatory information, minimum of 7 satisfactory trade lines.
- Personal guarantee required with a fair Isaac FICO of 625 or higher.
- Less than 10 inquiries within the last 6 months/ less than 5 within the last 30 days.
$75,000 - $250,000- Application only (equipment generally must be hard collateral for app-only approvals above $150,000)
- 3+ years time in business with current management.
- Bank reference – minimum medium 5 figure
- Credit Bureau reports, 7 year history, no derogatory information, minimum of 7 satisfactory trade lines.
- Personal guarantee required with a fair Isaac FICO of 625 or higher.
- Clean leasing and trade references.
- D & B report reviewed in Corp only.Middle Market Transactions: $150,000 - $5,000,000
- Full financial package required, consisting of most recent 2 years corporate tax returns with all schedules
- Most recent 2 years corporate financial statements. Please note: a complete financial statement package consists of cover sheet, CPA statement, balance sheet, income statement, cash flow statement and notes to the financials.
- Most recent interim statement