When you have a poor credit score or no credit score, getting rejected for a loan is frustrating. In order to qualify for a loan, banks want to see your credit report and payment history to determine creditworthiness, which is the ability to pay back a loan.
Unfortunately, for many people with lower credit scores, it is hard to secure a loan with a lower interest rate. The best way to get a loan with a low-interest rate is to build up your credit score by establishing evidence that you consistently make your payments on time.
If you suffer from a low credit score or your company is a startup that is trying to build up business credit, consider using a secured business credit card.
Source: https://www.entrepreneurshipsecret.com/secured-credit-card/