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By Ralph Coker

A good credit score usually gets you more favorable credit terms and a lower interest rate. Credit scores fall into five categories: bad credit (below 550), poor credit (550-619), fair credit (620-679), good credit (680-739) and excellent credit (740+). Obviously, and especially as a small business owner in Austin (or anywhere), you want excellent credit.

One calculator indicates the difference between fair and good reduces lifetime credit cost by $83,047 for a typical person. The difference between poor and good is:

$236,451 and between bad and good it’s $392,715. The credit costs

As lending from big banks to small businesses has plummeted (down 38% since 2006), alternative lenders have poured into the void to help entrepreneurs access growth capital.These lenders should be serving small businesses with integrity. Many are. Unfortunately, we also see deception, misdirection and predatory behavior.

We’re thrilled to see that Able, which funds businesses through its collaborative lending platform, has signed the Small Business Borrowers Bill of Rights ­ and has activated its network of borrowers around it in a really exciting way. Together with Able, we call on OnDeck

by: Jonathan Long

Contributor

Founder and CEO, Market Domination Media

September 02, 2014

Entrepreneurs will often have amazing business ideas, but they put them on hold due to a lack of capital. They assume that their idea will never get far off the ground unless they have major funding behind them.

It seems that every day there is a new startup receiving millions of dollars from venture capital firms, but what you don’t hear about is the several startup failures that burn through millions of dollars only to fizzle out and shut their doors forever.

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