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Lending Requirements and Credit Scores
Business owners and prospective business buyers need to be aware of recent changes in the banking environment. Whether it’s for an acquisition loan or line of credit on an existing business, lending requirements have changed significantly in the last year. The following link is to a Fort Worth Business Press article describing some of these changes, and explaining how individual credit scores are calculated and viewed by lenders.
While many people check their credit reports on a regular basis, few people know what their actual credit score is. A new service was launched this month offering free access to credit scores. Visit www.credit.com to see where your credit score ranks on the major rating systems.
Feel free to contact any of the merger and acquisition specialists at Kasper & Associates to discuss. We’re always available to assist business owners and buyers in negotiating the changing financial markets.
