credit score and funding

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itumeleng tsaoane
as an individual i have a non existant credit record, how do i apply for bussiness laons and funding when i dont have a credit score it at 0 by the way
itumeleng tsaoane
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  • Andy Hipkin

    Hi Itumeleng,

    For more information on funding please use the following link: https://www.simplybiz.co.za/funding

    As far as a credit score is concerned, you need to go and build a credit record. If you have an income go and apply for a credit card but make sure your limit is well below what your income is. Then you should use your credit card to pay for the things that you buy and at the end of the month, make sure you settle the full amount. Then, after doing this consistently for a period of time, the banks will see that you can pay back what you borrow and will be open to lending you more money.

    Does this make sense?

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