Personal credit is important when trying to secure capital because it serves as an indicator of the borrower's financial responsibility and ability to repay debts. Lenders use personal credit scores to assess the risk associated with lending money. A good personal credit score demonstrates reliability and a lower risk for the lender, increasing the chances of obtaining capital. Personal credit serves as a foundation for building business credit. By responsibly managing personal finances, small business owners can establish credibility and qualify for better business credit opportunities in the future. We discuss all this and more with guests Fabian Benalcazar & Jayda Audrick.

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https://www.gnec.org/faqs/

As a Community Development Financial Institution, we approach lending differently than traditional financial institutions. We do not just examine and make decisions based on credit scores but specialize in ways to help clients who may have difficulty accessing capital from traditional means. We assist entrepreneurs to grow economically stable businesses by helping them secure access to funds. Additionally, we provide the resources and know-how to close the racial funding gap to help make our clients bankable.