Commercial and Business Financing
"The company objective requires providing services that are timely, economical, cooperative and professional."
Phyllis Marcantonio, Chief Financial Officer
Action Funding, Inc.
61 Commercial Blvd.
Torrington, CT 06790
1-877-599-6906
Member of:
NAMB, CMBA, FSMB
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| > FAQs > What is a credit score?
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 | What is a credit score?
"Why should I have to pay higher interest because my credit score is 613?"
"Why do I have to pay more fees just because my credit score is low?"
"What exactly is a credit score?"
We have the new computer age to thank for the advent of credit scoring. A computer program was developed tracking the historical payment patterns of borrowers. Another program was developed tracking the history of loan payoffs and defaults. These two programs were combined, using the information from both, and a scoring methodology was developed. It takes into account the factors more traditional lending practices have used but expands them to factor in the base history of all the other borrowers with similar or even identical factors. A number value is then assigned to a person based on all this information. That number or credit score will appear as part of a persons credit report for years, in many cases up to seven years.
A person has to pay more fees and/or a higher interest rate with a lower credit score because of historical data. History works against a person. Payment and default patterns can be proven by tracking factors traditionally used to make credit decisions. What has been eliminated from credit decisions is the human factor, the "look a person in the eye and shake on the deal."
That's why Action Funding exists. We put the human factor back into the lending process. Our job is to represent the borrower, to find money for borrowing needs, and obtain it at the best price possible. We have built up relationships with lenders all over the United States. We are on a first name basis with people who have the money our borrowers need. In most cases we have shaken their hands while looking them in the eye at our offices or at theirs. We put the human element back into the credit process so the cold, hard, credit score is not the only factor in a lenders approval process. There are times when we put our money where our mouths are and fund the loan ourselves. Yes, we do intend to sell the loan to another lender to service, but the faith we show in the borrower becomes just one more part of the human factor. When another lender sees we have faith in the borrower, they understand we are telling them they should as well.
If a credit score of 613 or lower seems to eliminate you from having access to the funding you need to run your business, improve your commercial property, or buy that business you know you can run better than anyone else, it's time to talk to us.
Certain rules and restrictions apply.
Terms of program may change without notice.
Contact us today for more information.
Toll-free: 1-877-599-6906
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