From the course: Credit Secrets for Entrepreneurs

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FICO SBSS score

FICO SBSS score

From the course: Credit Secrets for Entrepreneurs

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FICO SBSS score

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- I mentioned SBA guaranteed loans. These are loans guaranteed by the Small Business Administration and they're considered the gold standard in small business lending because they have favorable interest rates and repayment terms. Many of these loans will use a special FICO score developed by FICO to evaluate applications. It's called the FICO SBSS score, sometimes known as liquid credit. This score is interesting because it can take into account the personal credit of the owner as well as the business credit of the business. It could even incorporate financial data if provided. And then it uses those two sets of data to create a single score. The FICO SBSS credit score range is zero to 300. 300 is the top score you can get, zero is the lowest. For the SBA loan programs that use this score the minimum score required to pass the pre-screen is 140 and many lenders want to see a score of 160 to 165 or above. At NAB…

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