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A credit report is a history of how consistently you pay your financial obligations. A credit report is created when you first borrow money or apply for credit. On a regular basis, the companies that lend money or issue credit cards to you (banks, finance companies, credit unions, retailers, etc.) send the credit reporting agencies specific and factual information about their financial relationship with you - when you opened up your account, if you make your payments on time, if you miss a payment, or if you have gone over your credit limit.

 

Credit Report History
Because your credit report contains all the information received from your lenders and provides a picture of your financial health, other lenders will request your report when they are determining whether or not to grant you a loan. Your credit report is a history that will help them determine what kind of lending risk you are - if you are likely to repay your obligation on time or not.

Business has been so good for you this year that it is time for expansion. Your little breakfast nook has grown into the place to be and now it's time to expand your little nook into a restaurant. With business like that you would think you can get a restaurant business loan with ease. But the reality is that you have been denied funding several times and you are completely frustrated and don't know where to turn. If this is you, then you need to look to Rapid Capital Funding to help you continue with your needs to expand. It shouldn't be up to a bank to determine your future, to stop your company from realizing its potential and you. You shouldn't be denied your dreams. If you need a merchant cash advance loan Rapid Capital Funding is where you want to turn. Instead of losing sight of your dream because a traditional financial institution will not give you funding, turn to a company that is on your side. Rapid Capital Funding is in the business of helping small businesses succeed. Getting ahead of the game is your goal, and finding an alternative to small business loans and their subsequent rejections is your priority. If you think you have run out of options, you haven’t. Basing your funding off of future business, you can get a merchant advance from Rapid Capital Funding. You don’t need collateral; you are not required to have a down payment or closing fees. You don’t even need to have good credit. Best of all, you don’t have to explain where you are using your money and how. It’s your business advance, not ours. It is money that belongs to you and your business.

Typical items found in a credit report Include:

• Personal Identification - Includes key identification information, such as your name, address, date of birth and Social Insurance Number (SIN)
• Consumer Statement - Allows you, the consumer, to add a brief comment about any information in your report
• Credit Information - Provides details of your credit accounts and transactions and shows if payments are being made on time
• Banking Information - Includes information on your bank account and NSF cheque history
• Public Record Information - Contains information about secured loans, bankruptcies and/or judgments
• Third-Party Collections - Contains information about any involvement with a collection agency trying to collect on a debt
• Inquiries - Includes all organizations or individuals that have requested a copy of your credit report in the past three years