Four years ago, Joe started his own business. He incorporated it, ran it carefully, paid his bills on time and steadily made a modest but solid profit. The company’s credit profile and credit scores were top-ranked.
Then the day came when he needed a new piece of equipment. Lacking the resources to pay cash, he sought financing from his local bank. Joe got the loan – but at an interest rate notably higher than the bank’s best. Why?
Two years before starting his business, Joe had been laid off. In the process, he had run up his personal credit card, and then
