In the business world, credit is of utmost importance. It’s a critical part of the main ingredients for business growth. Good credit history and a decent score can get you access to funding when you need it. That along with collateral are what creditors look for most before taking the risk of lending you money. If you’re in the position of putting up collateral, you should know what is a ucc filing on a credit report.

As a small business owner, you've probably taken out a loan in the past to help in the growth of your business. While small business loans can help in boosting your business, the repayment obligations can be strenuous. This is especially true if your business is not growing at the pace you expected. Instead of struggling to repay your small business loan, consider refinancing your current business loan, as a way to achieve your business goals faster. Loan refinancing happens when you secure a new loan, with more favorable terms, to offset the current one. However, you must first ensure that your business is eligible for a business loan to refinance.