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FICO SBSS (Small Business Scoring Service)

We all know that FICO is the industry standard credit score for personal credit and the score ranges from 300-850. But most small business owners don’t know that their company has it’s own FICO that they’ve probably never seen before.

The FICO LiquidCredit Small Business Scoring Service, or FICO SBSS for short, is main credit score used by banks and other lenders to evaluate you company’s credit worthiness when seeking larger loans and lines of credit because it allows them to make quicker, more accurate lending decisions, usually within hours instead of days.

A quick Google search for more information on this score won’t return much. Most of the information out there is geared towards banks who maybe looking to start pulling it. However, this page will explain this score’s importance from a business owner’s stand point.

FICO SBSS: What is it?

How is the score determined?

A business’s FICO SBSS score is determined by factoring in the company’s D&B, Experian, and Equifax Business reports as well as the business owner’s personal credit into one place. The score also takes into account:

It’s main goal is to provide a global view of a company’s overall financial health. Without having established business credit, the highest score you can have is 140, and that’s if you have outstanding personal credit (800+ and high limit accounts). 140 is the minimum score required by the SBA to be considered for funding, and most banks will want to see at least 160. If you do the math, your business won’t qualify if you only have good personal credit without business credit. And even if you have amazing personal credit, the approval you’ll get won’t be anywhere close to what you were hoping for. It is an absolute necessity to have stellar business credit.

How do I improve my score?

Our main focus at TrueBuild is improving your company’s business credit. This is the often overlooked aspect of your company’s overall financial image, yet the most crucial. We talk to business owners on a daily basis who have settled for MCA and revenue-based loans with sky-high interest rates because they didn’t take the time to build their company’s credit first and are looking for better options.

How to Monitor Your FICO SBSS Score

There aren’t that many options on the internet for monitoring this score. And because banks aren’t required to provide this score to you in the event that you are denied for loan, you may never know what exactly they were looking at.

Fortunately, NAV offers a way to monitor not just your FICO SBSS score, but also every credit report between you and your company that gets factored into your FICO SBSS score. They are currently THE ONLY recourse for business owners to monitor this information in one place.