Obtaining a Business Bank Account With Bad Credit
Operating a business can be a struggle in today’s economy; this is doubly difficult for the business entrepreneur that has a history of bad credit. Nearly one hundred percent of banks will perform a credit check before approving a business bank account application. If indebtedness, bankruptcy, or foreclosure haunts your past, it could decimate your chances of opening a business bank account. Financial institutions utilize an in-house credit system dubbed the “Che x System.” Every late payment, overdraft concurrence, or other similar issue credited to your account lowers this in-house credit score and undercuts your chances of obtaining a business bank account. Luckily, there are some steps that you can take to increase your likelihood of obtaining a business bank account with bad credit. Probationary Bank Account This is less than an ideal solution to obtaining your business bank account with bad credit history; however, for some individuals, this is the only available option. These