Scott Letourneau
Scott Letourneau is the founder and CEO of Nevada Corporate Planners, Inc. Over the past 10 years NCP has assisted more than 4,500 business owners form LLCs and corporations to get their business off to a fast start! Visit http://www.nvinc.com for insight and essentials in proper entity formation.
Articles by this Author
Understanding Your FICO Score And Its Variances
- By Scott Letourneau
- Published 08/24/2008
- Financing
- Unrated
The main system in place for determining credit scores is called FICO, an acronym for Fair Isaac Credit Organization, which is the company that owns this formula. The three credit bureaus, Equifax, TransUnion, and Experian all use this system to establish credit scores, but they each market it under a different name.
VantageScore Versus FICO: How the New Credit Rating System May Affect Consumers
- By Scott Letourneau
- Published 08/21/2008
- Financing
- Unrated
The exact differences, benefits, and downsides of the VantageScore system versus the FICO system remain to be seen, but consumers should be watchful of how the credit landscape changes for them based on this new arrival.
FAQs Regarding New Credit Formulas
- By Scott Letourneau
- Published 08/21/2008
- Financing
- Unrated
Business owners must consider how these changes could effect their business scores, because of the major impact it could have on their ability to take out loans, finance projects, or pay employees. Consider your options and discuss them with a financial adviser to figure out what is the best plan for you.
Credit Tips For Small Business Owners
- By Scott Letourneau
- Published 08/19/2008
- Small Business
- Unrated
It is shocking that nearly all small-businesses fail in their first months or years of business. One of the primary flaws of the way people run their businesses is being lax when it comes to book keeping and cash flows. It is important for business owners to follow some simple but imperative steps in order to go maintain the success of your business.
Credit Score Formula Changes, Impact on Small Business Owners
- By Scott Letourneau
- Published 08/19/2008
- Financing
- Unrated
Small businesses are extremely important to our culture and our economy. In fact, small businesses make up a very significant portion of our economy. The financial success of America's small businesses lies heavily on their ability to attain credit in order to maintain their business.
The Anatomy of Your Business Credit Score
- By Scott Letourneau
- Published 08/19/2008
- Financing
- Unrated
The success or failure of a small business could very well rest on the business owners credit scores, especially with the failure of mot businesses in the first six months of the business.
What VantageScore Could Mean for Newer or Less-Experienced Borrowers
- By Scott Letourneau
- Published 08/19/2008
- Financing
- Unrated
Credit scores have long been determined by a nearly universal formula known as the FICO model. This model, owned by Fair Isaac, is used by over 80% of the major banks in the US, and is the familiar 300-850 credit ranking that consumers are familiar with.
Three Key Factors Lenders Look at Before Giving You Business Credit
- By Scott Letourneau
- Published 08/19/2008
- Financing
- Unrated
Many businesses fail because they are unable to access the capital that they need to survive, particularly in the first five years of establishment when banks view them as riskier because of their age.
Importance of Credit and Capital for Small Business
- By Scott Letourneau
- Published 08/19/2008
- Financing
- Unrated
Small businesses are extremely important to our culture and our economy. In fact, small businesses make up a very significant portion of our economy. The financial success of America's small businesses lies heavily on their ability to attain credit in order to maintain their business.
How Personal Revolving Debt Affects Business Credit
- By Scott Letourneau
- Published 08/19/2008
- Financing
- Unrated
Many business owners are shocked to find that their personal finances have such a large impact on their business's ability to access credit.