In our experience, you are the most important factor in your future creditworthiness.
If you repay your business loan on time, your credit rating will improve because you will be considered reliable. This will have a positive effect on future loan applications. Conversely, defaulting on a loan can worsen your chances of obtaining future loans, as you will be classified as a higher risk by lenders.
It is also not a good idea to make many loan applications at the same time, as this can have a negative impact on your credit rating.
One reason why you might choose the Tide credit platform: We help you narrow down your selection quickly so you don't have to apply to many lenders individually.
