#1 Know what's on your credit report:

Surely you are aware that your credit history is really important to getting a loan. What you should also know is that many lenders will look at the kind of credit experience you have (the limit on a credit card or payment history on a previous loan for example) to determine how much we can lend to you. For example at ACCION USA our loans are categorized as "business term loans" with a personal guarantee. What that means is that we look at your personal credit history, using the kind and size of credit that you have handled in the past as one of the factors to determine the loan amount that we can give you for your business. For example, if you have a credit card with a $10,000 limit (hopefully it has a low balance-lenders like to see thatJ) we consider you as an applicant that has handled $10,000 worth of revolving credit. This influences are loan decision, along with your business cash flow.

IMPORTANT: You are entitled to a free copy of your credit report once per year at www.annualcreditreport.com and check outwww.creditkarma.com.

#2 Know your cash flow: No one says cash flow better than Count Me In- please read this blog! Lenders like to know that you are aware of the money that is coming in and out of your business.We need to see that you have enough money to pay us back each month. Most successful businesses owners keep squeaky clean records of their cash ins and outs. Do you?

Read more here!