Since the economic downturn, small business owners have had an increasingly difficult time obtaining the financing they need to sustain operations.
Although the Obama administration passed the Small Business Jobs Act last year to help provide more loans to these organizations, many small businesses continue to suffer because of the credit standing of their owners.
Jonathon Goldhill, a small business coach, recently told Businessweek that lenders do not want to offer financing to a start-up company if the entrepreneur has a poor credit score. To creditors, if business owners cannot maintain their own financial standing, then how will they be able to responsibly manage the money for a company?
Small business owners who find their credit scores are impacting their company's growth may benefit from reviewing their credit reports. In some cases, a damaged credit score may result from creditors relaying erred information to the credit bureaus, which then appears on a consumer's credit report. In these instances, individuals may benefit from working with a credit repair company to help repair bad credit.
Investigating and disputing an unfair mark on a credit report can be a daunting task for an individual; however, with the help of a credit repair attorney, the consumer may have the support and expertise he or she needs to file a dispute letter and improve credit.