What Is a FICO Score for Businesses?
A FICO score is a credit score that is used by lenders to determine a borrower’s creditworthiness. A FICO score ranges from 300 to 850, with the higher scores indicating a lower risk of default. A FICO score is used by businesses to determine a borrower’s creditworthiness, and can also be used to determine a borrower’s eligibility for a loan or credit card.
Businesses can improve their FICO score by implementing a number of strategies, including improving credit utilization, increasing credit limits, and improving credit history. Additionally, businesses can improve their FICO score by implementing a number of risk management practices, such as monitoring credit reports and credit utilization, and implementing credit scoring models that take into account a variety of factors.
