Los Angeles-Long Beach, CA (1888PressRelease)
January 23, 2009 - Fair Isaac announced plans of releasing its new credit scoring system titled Fico® 08. This new system may help more small business owners to become eligible to receive business financing through Merchant Resources International.
According to Money-Zine’s “Understanding Fico® 08” article, “If you have at least one major account in delinquency, but you also have a number of accounts in good standing with creditors, then your credit score would likely increase/improve with the new model.”
The article also states, “Examples provided by Fair Isaac indicate that consumers might experience a 20 to 25 point adjustment to their credit scores where [these] situations apply.”
Merchant Resources International currently provides business funding for business owners with bad credit (credit scores as low as 550) based on a widely used credit scoring break-down system. Therefore, a business owner with a credit score of 530 could see a credit score increase from 550 to 555 under the Fico® 08 guidelines and go from being ineligible for MRI business funding, to having the possibility of receiving up to $500,000 for his/her business, based on his/her business’s monthly credit card sales.
Small business owners who take advantage of this opportunity also receive the benefits of automatic loan repayments. A small percentage of their business’s daily credit card sales is automatically deducted and put toward repayment until the funds are completely repaid.
For more information on business loans with bad credit, please visit http://www.bad-credit-business-loans.org. Merchants who are interested in receiving funds for their businesses may also visit the website, or call (800) 277-1750 to speak directly to a funding specialist.
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