Late payments are not equal; a 90 day or 120 day late pay will cause a large amount of damage and is seen as a very negative mark by lenders. However a 30 day or 60 day late payment will not do much damage.
Bad credit lending has become big business recently. The economy has forced many with pristine credit records to seek alternative lenders for loans. Since many of the major lending companies reject the business of bad credit borrowers, these bad credit lenders specialize in a niche market that grows larger every day.
When you run your own business, you are faced with a variety of financial issues. One of the more important of these issues is the need to keep your personal and business finances separated from one another.
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