How To Get A Business Loan For most loans under £150k then nearly all lenders will use some system of credit-scoring. This means that for each fact about your application then points are either awarded or taken away. If your application reaches a set amount of points then your business loan is approved. So the
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Most mainstream banks use credit scoring as their primary way to assess and judge lending applications. These credit scoring systems have developed and are now extensively used in making both personal and business lending decisions. Most banks will ask the same sort of questions, so we thought why not tell you why these questions are
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Computer Says No, or What Is Credit Scoring? We often get asked this, or rather asked to explain how the decision made by the bank has been arrived at. Firstly, Credit Scoring is a statistically based system which judges each proposal on a set of criteria driven from past experience. It doesn’t judge you
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