Below you will find a scale that ranges bad to great for personal credit and business credit.
Personal Credit Scale
| Personal Credit Score | Description |
|---|---|
| 760 – 849 | Excellent score. The lender will offer you their best interest rate and best terms. |
| 700 – 759 | Great score. There won’t be any trouble in getting a loan at good interest rate. |
| 660 – 699 | Good score. There shouldn’t be any problem in getting a loan at good interest rate. |
| 620 – 659 | Fair score. You may qualify for a loan but you will not get a good interest rate. |
| 580 – 619 | Poor score. Chances are you will not qualify, if you do the interest rate will be very high. |
| 500 – 579 | Very poor score. It’s doubtful that you may qualify for the loan, and if you qualify, the interest rates will be extremely high. |
| 500 and Below | Extremely Bad Score. You almost certainly will not be able to qualify for any traditional loan. |
Business Credit Scale
While there are several business credit bureaus, we chose to use the Duns & Bradstreet Profile Type.
| Business Credit Score | Description |
|---|---|
| 0 – 24 | No score or Bad. Non-traditional funding or personal loans will be the only funding you can get. |
| 25 – 49 | Fair score. You will probably need to personally guarentee a loan. |
| 50 – 74 | Good score. Vendors will feel comfortable doing business with you. Securing funding may take into account property owned. |
| 75 – 100 | Excellent Rating. Solid line of reporting vendors. Promptly paid invoices. You can secure funding based on your businesses credit. |
Paydex Scale
| Paydex Score | Payment Expectation |
|---|---|
| 100 | Expect payment may come early |
| 90 | Payments generally come within early payment discount period |
| 80 | Payment is Prompt |
| 70 | Payment comes 15 days beyond terms |
| 60 | Payment comes 22 days beyond terms |
| 50 | Payment comes 30 days beyond terms |
| 40 | Payment comes 60 days beyond terms |
| 30 | Payment comes 90 days beyond terms |
| 20 | Payment comes 120 days beyond terms |
| UN | Unavailable |
Help make this table better! If you have an intimate knowledge of the industry and would look like help make StartupLoans.org better for small business owners, please contact us today!
