Azora’s Credit Score Requirements
Azora uses different credit scores depending on the borrower’s entity type:
For Sole Traders and Partnerships:
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Equifax Commercial Apply Score — Used to evaluate the creditworthiness of sole traders and partnerships.
For Companies:
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Company Trading History Score — Evaluates the credit history of the company itself.
For Individuals (Directors/Owners):
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VedaScore 1.2 — Applied to individuals associated with companies to assess personal creditworthiness.
Minimum Credit Scores Required:
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Streamline Product:
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550 for loans up to $150,000.
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600 for loans between $150,001 and $250,000.
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Accelerate Product:
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600
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Important Note:
These scores are based on negative data, which is not the same as having a negative score. Brokers can pull this report and should select 'negative' as the data parameter to ensure the correct information is obtained.