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Your Net Worth is just as important as your FICO. To a lender that number either…
Your Net Worth is just as important as your FICO. To a lender that number either provides them security and peace of mind or it identifies you as over-leveraged. To calculate your net worth take the aggregate value of your assets then subtract all liabilities and its outstanding balances. That number is your net worth. Do you have a positive or negative net worth? – Are you helping your credit application or hurting it? But I incorporated because I didnt want anything in my name personally I dont want to personally guarantee anything. Ok and because you did that your corporation runs itself? No. You run the Corp . Youre responsible for it and its performance and repayment of any loan. Let me let you in on a bank secret if youre not willing to stand behind and guarantee your Corp why would a bank or any lender? Your personal financial statement is as important as your business balance sheet. – Follow @americanprofitconsulting for business advice and guidance you can use. – Tag a busin...
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