What to Know About Your Credit Score and Getting a Franchise Loan

Credit Reports:The most common credit score a franchisor will look at is called the FICO score. The FICO system was developed by the Fair Isaacs Corporation and went live to the public in 1987. The score is determined from a number of things, including (but not limited to): credit history, loan payments, bankruptcies, 'pings' on your account from account activations, address changes, etc. FICO scores range from 300-850, anything below 600 is deemed below average. The higher your credit score, the more likely you are to obtain a franchise loan.The most heavily weighted figures for a FICO score

Read more ...