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What's the Difference Between Personal and Business Credit?

12/23/19Ricky BaizasSmall Business

Operating a small business can often feel like a deeply personal enterprise. After all, chances are you're pouring loads of time and effort into making your business a success.* However, it's important to know where to draw the line between business and personal for some things. Case in point: credit. Just as it's recommended that you open a separate bank account for your business, it's also suggested that you work on building up a separate credit profile. Still, you may be wondering: What's the difference between personal and business credit?

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Credit Utilization: What is it and How it Impacts Credit

12/23/19Ricky BaizasPersonal

Credit-reporting companies determine a consumer’s credit rating on how debt is paid down and credit is used. When creditors review an application for a new loan or card, they comb through a credit report, which features the payment history. They want to verify if the applicant was able to keep the debt accrued at a manageable level. To improve chances of approval for new credit, review balances on credit cards. You may need to lower the total credit utilization rate.*

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Top 5 Benefits of Purchasing and Financing Equipment

12/23/19Ricky BaizasSmall Business

When business owners need to update equipment or technology to keep up with company expansion, they have the option to either lease or purchase. While there are plenty of perks to leasing, there are also advantages that only come with owning.*

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How to Shop Around for a Personal Loan

12/23/19Ricky BaizasPersonal

It's a scenario many people face every day: they need fast cash for unexpected expenses or bills that are quickly coming up. However, their bank accounts are running on empty, and they are on the verge of overdrawing, resulting in extra charges. When you need cash soon, you don't have to suffer the indignity of borrowing money from family members or take out a pay day loan. You could apply for a personal loan, giving you access to the cash you need when you need it.*

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