- On April 24, 2017
Lenders use FICO credit scores for not only your mortgages but for business loans as well. Your score range possible is between 300 and 850 score.
A 680 score is considered good credit and 700 to 850 is considered very good to excellent.
The SBA lenders AdvisorLoans works with prefer a 640 minimum score and our non-SBA lenders are looking for 680 to 700 as a minimum.
Most business lenders want to see advisor borrowers have a FICO score north of 700 to qualify although lenders will have their own red line minimums.
While the SBA minimum is 625 some SBA lenders set their own minimum requirements that are higher. Two of the most popular SBA lenders in the financial services industry have 680 and 640 minimum scores.
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