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How Much Can I Borrow With a 700 Credit Score?
Crystal Business Funding provides funding for businesses that have a 700 credit score. Apply Now for quick and easy working capital for your business.
When you're looking to get a business with a 700 credit score, you are probably thinking to yourself, "How much can I borrow?" Well your local bank will probably make you jump through a thousand hoops, and take months to process your application. But online lenders like Crystal Business Funding provide quick and easy financing solutions, giving you access to capital in days, not weeks.
700 Credit Score
A 700 credit score is generally enough of a number for you to obtain business funding. It shows lenders that you are a responsible borrower, but it’s important to know that with online lenders, your credit score is only part of the equation. Most lenders will mainly be focused on your business’s revenue and cash flow.
With most lenders, including Crystal Business Funding, in order to apply for funding, you need to be doing a minimum of 20k in monthly revenue.
How Much Can You Borrow?
With a 700 credit score, business owners typically borrow based on how much the business is generating in monthly revenue. A general rule of thumb, with a 700 credit score, you can get upto one month's revenue, so, say your business is generating $100k a month, you can get approved for around $100k. In some instances you can get even more than that. Depending on your industry, your financials, and how long you've been in business.
Why Choose an Online Lender?
Easy: You can use online lenders to obtain a business loan easily.
Quick Funding: Many lenders can have you approved and funded within 24 hours.
Flexible: Unlike banks, online lenders won't crack down on every aspect of your business, making it way easier to get working capital.
Online Lenders with a 700 Credit Score
Online lenders like Crystal Business Funding will provide you with a simple 1—page, hassle-free application. When applying with an online lender, there is no collateral required, and many times the application won't even affect your credit score. According to recent stats, over 50% of small businesses use online lenders to get financing for their business.
With a 700 credit score, you should be eligible to apply with most lenders, and if you meet all the other requirements, you should have funding in no time.
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