Personal Credit Score
A numeric score reflecting an individual's personal creditworthiness, commonly used by lenders alongside business financials when a personal guarantee is required.
Personal credit scores, most commonly a FICO score, are based on an individual’s own payment history, credit utilization, length of credit history, and other factors tracked by consumer credit bureaus, entirely separate from the business’s own credit profile.
Because many small business loans require a personal guarantee, a business owner’s personal credit score is often reviewed alongside the business’s financials, especially for a newer business without an established business credit history yet.
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