Scores

5 Ways to Protect Your Business and Personal Credit Scores During a Crisis


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Between uncertain cash flow and concern over how to meet financial obligations such as payroll and bills, it’s a stressful time to be a small-business owner. Many entrepreneurs are experiencing the same anxieties over unemployment, debt and financial sustainability. Your personal and business credit scores could take a hit if you have to miss payments due to a cash shortfall. 

Related: The Zero-Sum Mindset: How to Avoid Toxic Thinking in Moments of Crisis

Implement these strategies to help protect your credit score while we wait for the pandemic to pass:

1. Regularly review bank accounts for any suspicious activity.

Unfortunately, crises and the financial relief that often follows seem to bring out fraudsters and criminals. That’s certainly true in the current crisis with the CARES Act, which has already prompted its share of scams targeting your

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Envoy scores $13m to scale up blockchain trade finance platform


Blockchain-based supply chain and trade finance startup Envoy Group is looking to expand beyond Latin America after securing a $13 million investment from Alcedo Digital Ventures.

Built on R3’s Corda platform, Envoy is promising to accelerates the $17 trillion annual global trade flows in to the digital age by reducing inefficiencies and injecting liquidity.

The platform is designed to integrate seamlessly with legacy data systems and all third party blockchains, enabling buyers and sellers to manage global trade logistics and to find new funding sources supported as result of trust.

This “trustless” nature of smart contracts built on blockchain technologies are perfectly suited to automate many of the core workflows of global trade, says the firm, as well as using the stellar based NVOY token for instant tokenised cross border payments.

Envoy says it is already onboarding clients in Latin America and, with the new funding in place, is

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Credit Scores | FTC Consumer Information

Ever wonder how a lender decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you’d be a good risk for credit cards, auto loans, and mortgages. These days, other types of businesses — including auto and homeowners insurance companies and phone companies — are using credit scores to decide whether to issue you a policy or provide you with a service and on what terms. A higher credit score is taken to mean you are less of a risk, which, in turn, means you are more likely to get credit or insurance — or pay less for it.

The Federal Trade Commission (FTC), the nation’s consumer protection agency, wants you to know how credit scoring works.

What is credit scoring?

Credit scoring is a system creditors use to help determine whether to give you credit. It also may be used to

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