| Tips on improving your credit score
Your credit score influences many areas of your life. A prospective employer will check your credit when considering you for employment. Your insurance agent may check your credit when deciding to insure your car or home. Your lender, whether for a home loan or other consumer debt, will check your credit score when making a determination. Your credit report shows the history of your borrowing activities as they have been reported to the credit reporting bureaus (TransUnion, Experian and Equifax) by lenders, court records and others at a point in time. The credit score helps credit grantors to evaluate this information quickly because it gives a snapshot of your payment history. Thousands of credit grantors send updates to the bureaus -- usually once a month. These updates include balances, monthly payment amounts and whether there have been late payments.
How to finance your small business
We have all heard about the troubled credit markets so it's especially important to keep a few things in mind if you're planning on seeking financing for your existing business. First of all, remember that getting a loan isn't always easy, and it becomes harder if you are not prepared when you go to the bank. What you're really doing is telling a story about your success and that of your company. It's also important to understand that folks invest in people -- not just in businesses. Your expertise, experience and ability will be on the line, too. Here are a few things a banker will be looking for: 1. Your capacity to repay -- Lenders want their money back, plus interest, so your ability to repay must be justified in your loan package. Cash flow from the business and collateral are two key elements the bank will study.
Reuters Business Summary
H&R Block replaces CEO Ernst; Breeden is chairman NEW YORK - H&R Block Inc replaced Chairman and Chief Executive Mark Ernst on Tuesday following mounting subprime mortgage losses and criticism that the largest U.S. tax preparer had strayed far beyond its roots. Richard Breeden, 57, a former U.S. Securities and Exchange Commission chairman who won three H&R Block board seats in September after a proxy fight, was named chairman. GM's Nov sales meeting expectations: Lutz DETROIT - General Motors Corp's November U.S. sales, on average, are on track to meet its expectations, a top GM executive told Reuters on Tuesday. "We are looking at the numbers for November and we are making our numbers," Bob Lutz, GM's chief of global product development, said at the Reuters Autos Summit in Detroit.
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