score a better future entrepreneurs edition | meet taylor

Are you a small business owner? Working on the next big idea to launch out into the world? Did you know that most small business owners (75%) depend on personal capital to fund their businesses (U.S. Census)?

Good news.

FICO has committed to educating consumers through their national Score A Better Future program. This program brings together consumer advocates, credit educators, and community leaders in a series of free educational events across the country. 

One of FICO’s key initiatives for Score A Better Future is to help communities of color, first time homebuyers, millennials, those with no scores and if you have less than strong credit to improve the understanding of their overall financial health.

Over the next few months, we’ll hear directly from small business owners as they share how they’ve utilized credit, are overcoming challenging economic times, and important credit tips that we can all benefit from.

First up, let’s hear from Taylor, a personal trainer based out of North Carolina.

Name: Taylor

Location: North Carolina

Occupation: Personal Trainer

How have you utilized credit in business? I have utilized credit by taking out small loans, $5,000 or less, to keep funds on hand for payroll and renovation of my new gym during the midst of the pandemic. This gave me a bit of wiggle room to not feel as stressed about money, particularly when I had to close in person services briefly during the stay-at-home order. The great thing about this loan is that the repayment automatically debits from my account, so I don’t have to worry about repaying on time.

What have you learned about credit personally and as a small business owner? I have learned that credit is a great way to keep cash on hand and build up my business credit score. Long-term, I plan on expanding by opening up a second Charlotte FIT location, so this is a great way to establish my character and reputation in business.

What is one credit tip that you would pass along to other business owners? Use credit to your advantage. It can be a great asset to establish yourself as a reputable business and launch your company into larger long-term ventures.

Are you ready to attend an educational session led by experienced and highly accomplished FICO staff about the myths and facts of FICO® Scores and how to build credit? To learn more about Score A Better Future events, visit

I am an official brand ambassador for FICO. While I receive compensation for my participation as a brand ambassador, opinions are mine. 

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The Finance Bar is a personal finance suite helping women and couples achieve financial wellness through financial therapy, education, and an innovative learning hub on wheels. Creator Marsha Barnes is Certified in Financial Therapy, Financial Social Work, and serves as an Official FICO Brand Ambassador, and was named GOBankingRates’ Best Money Expert in the Net-Worth Category.

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