Why Your Personal “Beacon Score” Matters When Financing Your Business

Have you wondered about the status of your personal credit score?

Small Business BC has an interesting article about your “Beacon score”

Snippet from the article:

What’s a Beacon Score?

The beacon score is one of two measures on a credit report, and it’s a summary of how an individual has used credit in in the past. The report shows all the outstanding credit facilities (such as bank loans, credit cards, lines of credit and car loans) that you have, and how well that you’ve kept up with repaying those loans. It also shows the total available credit, and lists all the places where you have inquired about getting credit (such as at a car dealership, or by inquiring about a cell phone plan).

Small Business BC has a number of helpful and easy to understand articles on a variety of topics.