Eligibility

Does being an independent contractor count as owning a business?

What determines my eligibility for a Hatch Business Line of Credit?

Will my FICO score be affected by applying for a Hatch Card? What if I don't have a credit history or a FICO score?

Does being an independent contractor count as owning a business?

For most tax and business purposes, independent contractors are considered sole proprietorships. If you are an independent contractor, you can apply for a Hatch Card  as a sole proprietorship.

What determines my eligibility for a Hatch Business Line of Credit?

We believe that a business owner's past credit history (or lack thereof) shouldn’t prevent them from getting credit for their existing or new business. Instead, we focus on the current prospects of your business and you as a business owner.

Our decisioning process focuses on a broader set of underwriting criteria for a line of credit than other financial institutions, including the information you provide about yourself and your business and your business’s current finances (from bank accounts and vendors that you link with us).

We believe that every business owner should have an opportunity to show that they deserve credit, regardless of their past credit history. Please note that we can only make a credit decision when we've received all relevant documentation and processed your completed application.

Will my FICO score be affected by applying for a Hatch Card? What if I don't have a credit history or a FICO score?

Your FICO score will not be affected by applying for a Hatch Card. The Hatch Card is designed for underestimated small business owners, so we focus on a broader set of criteria than your FICO score (or lack of a FICO score).

Additionally, we’re not currently reporting information to credit bureaus. However, we do understand that some business owners want the ability to build their credit score through our products so we are working on additional products that will provide such a feature.

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