There is no denying the market is bad.  In fact, BAD may be an understatement.  In slow economic times, it may be important to obtain financing to help your business grow.  Your greatest ally in financing can be your Consumer Credit Report.  I have spent years as a credit analyst and one thing is for sure:  your personal credit score is the top indicator of perceived risk to a financial institution.  If you have great credit, lenders will view you as low risk an you will be able to obtain financing at a low cost.  However, if you are a perceived credit risk, be prepared to pay higher fees for less money on a loan or line of credit.

The best thing you can do to protect yourself and qualify for better rates is to monitor and maintain your credit profile.   Research indicates that 70% of credit reports have false or inaccurate information.  So, 7 out of 10 people have a chance to increase their credit score and pay less for financing.  By reviewing and monitoring your credit, you will be able to challenge false information, thus increasing your credit score and saving you money.  You can challenge false information by calling the credit bureaus or sending in a letter.  Until negative information is changed or removed from the report, you may be perceived as a higher risk to potential financiers.  Setting an account up with Equifax.com, FreeCreditReport.com or TrueCredit.com is a good start.

In times like these, ever dollar counts.  Take a look at your credit report and make sure false reporting is not tarnishing your credit record.