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Available Credit on a Credit Card: What It Is & Why It’s Important
https://www.sofi.com/learn/content/what-is-available-credit-on-credit-card/
Put simply, available credit on a credit card is how much money a cardholder has left to spend in a billing cycle. Being aware of your available credit is key to managing your money responsibly and ensuring you don’t spend beyond your credit limit. Doing so can lead to having a purchase declined or facing […]
Checking and Understanding Your Business Credit Score
https://www.sofi.com/learn/content/business-credit-scores/
A business has its own credit report that reflects the risk profile of the company, similar to a personal credit score that is like a snapshot of your personal credit profile. Your business credit score plays a crucial role when you want to expand your business, get loans, and qualify for competitive rates and terms. […]
Average Credit Score by Age 60
https://www.sofi.com/learn/content/average-credit-score-by-age-60/
The average credit score by age 60 is currently 745, which falls in the very good range. Your credit score is an important indicator of how well you use credit, and it can help you reach financial goals like securing a home loan at favorable rates. Knowing what the average credit score by age 60 […]
What Is the Minimum Credit Score for a Business Loan?
https://www.sofi.com/learn/content/credit-score-for-business-loan/
The minimum credit score for a business loan typically ranges from 500 to 680, depending on the lender and loan type. Traditional banks often require higher scores (around 680 or more), while alternative lenders may accept lower scores (500-600). Higher credit scores improve loan approval chances and the offering of better terms. Lenders may also […]
How to Calculate Cash Flow (Formula & Examples)
https://www.sofi.com/learn/content/how-to-calculate-cash-flow/
Cash flow is the amount of money in and out of your business. Assessing cash flow is an essential step in understanding how operating expenses impact your business’s bottom line. Many companies use accounting software to do the job. But, depending on the complexity of your business, it may be possible to calculate cash flow […]