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Franchisee Spotlight – Sherry Gallon, Corvus of Little Rock

December 26, 2022 by Evan-Scott Morris

December’s Franchisee Spotlight Series features Corvus of Little Rock Franchise Owner Ms. Sherry Gallon. Read on to learn more about the standout Franchisee who goes above and beyond to Make Lives Better!

To keep up with the Franchisee Spotlight Series and all things Corvus, follow us on Instagram! @corvus_janitorial_franchising

As a Franchise Owner for the last ten years, Ms. Sherry Gallon of Corvus of Little Rock works full-time in her business and is still expanding and taking on new accounts. Her motivation to run her own business started with wanting to have the freedom to spend more time with her kids and grandkids, which she now has the flexibility to do.

The biggest focus Sherry has in her business is building relationships with her customers and making sure they are happy with her service. If Ms. Gallon has any concerns from customers, she always tries to meet them in person to have direct communication and address the issues quickly. While she prioritizes meeting with the customer or Corvus in person as much as possible, Sherry likes to reserve Friday’s for her grandkids.

Ms. Shayna Hula, Regional Director of Corvus of Little Rock, says Ms. Gallon “is a hard worker with a positive attitude and always has a smile on her face.” It’s clear that Ms. Gallon takes pride in the work she does and takes ownership of her business. If an employee is not meeting the cleaning expectations, Ms. Gallon will take over the account to ensure the highest level of service is provided. With her dedication and customer service skills, we have no doubts Sherry Gallon will continue to be a successful Franchise Owner for many years to come!

Filed Under: Articles, Community, Content Types, Franchise Ownership Tagged With: Little Rock

Four Reasons It’s Important to Keep Your Data Center Spotless

December 9, 2022 by MalekaVrana

Modern businesses rely on seamless computer performance to operate. Most servers are used 24/7, which means any downtime will negatively impact a company’s bottom line almost immediately. Dirt is a computer’s enemy, so preventing dirt from accumulating in your data center or server room is crucial. There are several reasons it pays to keep your data center or server room clean, but here are four everyone should consider.

1. Regular Cleaning Reduces Downtime

Downtime is always costly, but the actual costs depend on a variety of factors. The size of a business, the number of employees idled by the downtime, and the type of business factor into the equation. For example, an insurance company will experience different losses than a large online retailer. In any case, the losses add up quickly and can create negative effects on a company’s bottom line. According to Gartner, the average cost of server downtime is $5,600 per minute. Most companies cannot afford those kinds of losses.

Since one major factor related to data center and server downtime is dirt, computer industry experts recommend routine cleaning to ensure a server isn’t adversely affected by a dirty environment. One solution is to contract professional data center cleaning services such as those offered by Corvus Janitorial Systems to ensure the servers that power businesses are always spotless.

2. Routine Cleaning Extends the Life of Equipment

Since servers run constantly, data centers and in-house server rooms must keep the temperature constant. If temperatures rise, equipment overheats quickly. Once that happens, the life of the equipment involved is impacted, as electronic equipment cannot tolerate high heat for extended periods.

The dust and other debris in the air will plug filters, which reduces the flow of cooled air in server environments. While cleaning or replacing filters helps, those filters will clog again if the environment is not kept clean. Routine data center or in-house server room cleaning reduces the need for filter maintenance, cutting overhead expenses and increasing the expected lifespan of equipment.

One final impact of contaminants in the air is corrosion. Electronic components and wiring are subject to corrosion, so mitigating the root causes of corrosion is a crucial concern for servers’ owners.

3. Clean Data Centers Aren’t Welcoming to Rodents 

Rodents love a warm, cozy environment, and they see those characteristics in server rooms. Since rodents can cause significant damage to computer components and pose health hazards to employees, the prevention of infestations is critical.

Appropriate cleaning practices reduce the potential for rodent infestations. Industry experts recommend paying close attention to the underfloor plenum, as that area provides an ideal runway for rodents. Once rodents enter that area, they quickly contaminate the entire space. Cleaning experts always monitor data centers or in-house server rooms for any signs of rodents and act quickly to resolve issues related to their presence.

Remember that rodents love to chew on wires, and that damage will cripple a server. Again, downtime is the enemy here, so taking appropriate steps to eliminate the threat of rodent damage will always be necessary.

4. A Clean Data Center Enhances Workplace Safety

Dusty environments pose significant fire threats. Fires damage or destroy equipment, lead to extensive downtime, and lead to data loss. Of course, there is also a threat to the physical well-being of employees in and around a data center or in-house server room. A clean server environment eliminates those threats.

While the odds of data center or server fires are not high, any cause of downtime must be considered. Remember that even static electricity within the data center can lead to a dust-fueled fire, so cleaning is essential to reduce any potential risk.

Staying On Top of Data Center Safety Issues

Maintaining a regular cleaning schedule is arguably the most important aspect of maintaining a clean and safe data center, but there are other ways to protect a data center and employees. Here are some strategies to consider that work with cleanliness to prevent a disaster.

  • Track any Temperature Variations. The temperatures in a data center must be carefully controlled to keep the equipment safe and reduce the odds of a system failure. Most experts recommend maintaining data center or server room temperatures around 65 degrees, with a maximum of roughly 80 degrees. When temperatures rise above that threshold, the equipment is in danger. One major cause of overheating is, as noted earlier, clogged filters. Keeping the room clean at all times reduces the odds of overheating. In addition, monitoring those temperatures will also allow workers to spot developing issues.
  • Keep All Equipment Clean. Regular cleaning by professionals is crucial, but workers are also encouraged to wipe down equipment between cleanings. That cleaning helps to reduce the amount of dust that can accumulate inside equipment where it’s difficult to remove.
  • Organize All Cords. Disorganized cords pose a safety threat to workers, but loose and disorganized cords also make cleaning the space more difficult. The best course of action is to keep cords as short as possible and organize them so they are out of the way.
  • Always Use the Right Equipment. Choosing the right equipment reduces threats to workers and equipment. At the same time, installing proper racks, cooling devices, power distribution equipment, and monitoring devices will always be crucial for maintaining a safe environment that’s easy to maintain. Proper aisle containment is also crucial for safety and temperature control.

Since every data center or in-house server room is somewhat different, their maintenance needs will vary to some degree. However, the basics of design, safety, and cleanliness will always apply.

Develop an Appropriate Cleaning Strategy Now

While keeping data center cleaning duties in-house may be tempting, contracting a professional cleaning service like Corvus Janitorial Systems to handle those chores generally proves more efficient. Start by contacting a provider to evaluate the current cleaning practices and determine where improvements can reduce the odds of system issues developing due to a contaminated environment.

Once that evaluation is complete, the next step is determining how and when to implement changes that will result in a cleaner, safer data center. Your data center investment is protected when the space is kept clean and free of health hazards. To get started, contact a professional cleaning service like Corvus Janitorial Systems today via our online form or call today.

Filed Under: Articles, Commercial Cleaning, Content Types, Guides, Tips & Trends, Topics Tagged With: Industrial, Offices

Four Tips to Help Keep Childcare Centers Sanitary

December 2, 2022 by MalekaVrana

One of the issues amplified by the pandemic is that keeping children safe from contagious diseases must always be a priority. However, accomplishing that goal takes work. Anytime larger groups of children gather there’s a meaningful chance of spreading infectious diseases. That’s why initiating a regular cleaning schedule and routine is crucial. Review the four tips for keeping a childcare facility clean for more information.

1. Focus on Sanitizing Surfaces

While constantly cleaning high-touch surfaces isn’t always easy, doing so will go a long way toward minimizing the spread of germs in childcare settings. Infectious diseases spread easily when multiple children share the same spaces all day. Colds, the flu, Covid, and other illnesses can be reduced when proper cleaning precautions are taken. In most cases, even when child care staff members handle routine cleaning during the day, consider using professional childcare cleaning services to deep clean the facility regularly to protect staff members, the children, and the children’s families.

2. Clean All Spills Immediately

Food and drinks stain surfaces quickly when they’re not cleaned promptly. However, those spills also increase the odds of harmful bacteria and mold. Since young children are curious, they may be tempted to taste spills, which will spread germs quickly. Staff members are encouraged to keep cleaning supplies within easy reach so all spills can be dealt with immediately. If a stain doesn’t come out using standard cleaning techniques, professional janitorial experts, such as Corvus Janitorial Systems, can generally resolve the problem during a scheduled visit.

3. Separate Dirty Objects for Cleaning 

During the day, staff members and children are encouraged to place dirty items in receptacles for cleaning. Children should be encouraged to place dirty items in the containers, and staff members should congratulate them for doing so. The central idea is to prevent the spreading of any dirt and contamination. Staff members can clean and sanitize items at the end of the day. 

4. Prepare for Emergencies

Every childcare facility will face cleaning issues. That’s expected when large groups of children are present all day. However, facilities are always encouraged to prepare for emergencies. That may mean keeping personal protective gear for everyone on hand and knowing when suspending operations might be required to keep everyone safe. Deep cleaning is often required when significant issues develop. Those might include an outbreak of a childhood disease, the threat of Covid, or the suspicion another contagious disease is present. Keep the contact information of childcare cleaning professionals, like Corvus, on hand to handle those situations. 

Those four tips are vitally important for all childcare centers, but there are other strategies facility owners and staff members can implement to reduce the likelihood of serious issues developing. Here are a few ways staff members can sanitize the areas throughout the day.

Don’t Spare the Soap and Water

Cleaning toys, dishes, and other commonly used items in a childcare center will always be an ongoing process. Staff members should always have the correct cleaning products to tackle routine cleaning chores. Remember that cleaning products designed to remove dirty floors will be different than those used for washing dishes. A professional cleaning service can perform these duties for you. 

Experts recommend carefully washing any dirty items using the recommended cleaning products. Once an item is thoroughly washed, rinse it completely to remove any remaining contaminants and soap residue.

Always Disinfect Items Used in Childcare Centers 

Although using plenty of soap and water will always be important, that step isn’t enough. Soap and water remove dirt but washing alone will not sanitize items. To minimize the spread of germs, sanitize everything. Discuss a center’s needs with cleaning professionals who are skilled in disinfection services if you’re unsure how to sanitize items used throughout the day.

While a bleach and water solution is recommended for quick cleanups, there are other options available to keep childcare centers clean and sanitary. Use the water and bleach mixture for quick wipe-downs of counters, door handles, and other frequently touched surfaces.

Dishwashers and clothes washers provide the level of cleaning needed to sanitize bedding, dishes, and hard toys in a childcare setting. The detergents and high heat are sufficient to kill most germs. Again, if you’re unsure how to clean specific items, take the time now to discuss the issue and get cleaning recommendations from a commercial cleaning service like Corvus.

Follow Your State and Local Guidelines

States and municipalities generally have regulations for cleaning and disinfecting a childcare center. Those regulations provide guidance when it comes to cleanliness and offer advice on how and when to clean specific areas within a facility.

At the same time, those regulations may not be sufficient to protect caregivers, children, and the children’s families in some situations. Rather than taking any unnecessary risks, discuss your center’s needs with a cleaning or janitorial service. Being proactive pays off when the incidence of diseases is reduced in a childcare environment.

Use Caution When Selecting Cleaning Products

Many cleaning products contain ingredients that could prove harmful to staff members and children alike. Even many products used in hospital settings are dangerous to children, which means staff members must read all labels carefully to ensure a specific product is safe to use around young children. Rather than taking unnecessary chances, stick to bleach and water solutions or use cleaning products recommended by local authorities or childcare center experts.

Stay on Top of Evolving Conditions

Because conditions change all the time, paying close attention to evolving care guidelines is strongly recommended. Covid precipitated a significant number of changes for all types of institutions, and childcare facilities didn’t escape untouched by those changes. Staff members must be provided with training materials as conditions evolve to ensure everyone stays as safe as possible.

Contact a Commercial Cleaning Service for Help

The easiest way to protect children and staff members is to have a commercial cleaning service, such as Corvus Janitorial Systems, schedule regular cleaning services for childcare facilities. The first step is to contact cleaning experts to discuss a facility’s needs and request a quote for the needed services. At Corvus, all it takes is a quick phone call or online request for a quote.

Filed Under: Articles, Commercial Cleaning, Content Types, Disinfecting, Tips & Trends, Topics Tagged With: Daycare Facilities

Franchisee Spotlight – Marcus Breedlove, Corvus of Nashville

November 28, 2022 by Evan-Scott Morris

November’s Franchisee Spotlight Series features Corvus of Nashville Franchise Owner Mr. Marcus Breedlove. Read on to learn more about the standout Franchisee who goes above and beyond to Make Lives Better!

To keep up with the Franchisee Spotlight Series and all things Corvus, follow us on Instagram! @corvus_janitorial_franchising

Corvus is excited to spotlight Mr. Marcus Breedlove, Corvus of Nashville’s first Franchise Owner. This October was Mr. Breedlove’s second business anniversary and he has much to celebrate.

As with starting any new business, Mr. Breedlove faced a few challenges, including difficult accounts and hiring reliable employees, but he remained committed to supporting his family with his franchise. Marcus has since grown his business to 11 accounts and is now running his franchise full time with several employees and is ready to hire more.

Marcus has worked to build a relationship with Mr. Jonathan Frias, Regional Director, even inviting him to family functions to meet his wife and kids. Through this partnership, Marcus has remained open to coaching and learning, a common attribute of a successful business owner. Following Jonathan’s advice of taking one step at a time, Mr. Breedlove has stayed focused, worked hard, and continues to grow. Corvus is proud to have Marcus as a business partner and to watch as he continues to expand his franchise!

Filed Under: Articles, Community, Content Types, Franchise Ownership Tagged With: Nashville

How Often Should You Clean Your Office’s Carpets?

November 25, 2022 by MalekaVrana

Immediately upon entering a business, a customer forms an opinion of the company and its offerings. To present the right image, the interior must be orderly. Many people overlook the carpet when considering the cleanliness of the interior but doing so is a mistake.

Every business should have its carpet cleaned regularly. Not only will this help to attract customers, but it will also keep the employees healthy. How often should a business owner clean their office carpets?

The Benefits of Professional Carpet Cleaning

Professional office carpet cleaning, performed by a professional cleaning company like Corvus Janitorial Systems, ensures the business presents the right image to visitors and increases the likelihood of them becoming paying customers. They see the clean carpets as a sign the business pays attention to details and takes pride in what it does.

Dirty carpets negatively affect indoor air quality. They harbor dust, dirt, germs, allergens, and more, which can lead to sick employees. Finally, dirty carpets allow for more noise in the office.

Having the carpets cleaned removes these concerns. Many business owners attempt to clean the carpets on their own but don’t remove all contaminants. Professional carpet cleaners like Corvus bring the tools needed to clean the carpets thoroughly and provide these benefits.

How Often are Professional Carpet Cleanings Needed?

Business owners wish to know how often they should have their carpets professionally cleaned. The answers vary based on many factors. 

Consider the carpet type when determining how often they need cleaning. High-pile carpets and dense carpets need more frequent cleanings because they collect dirt and debris easily.

Small carpets require fewer cleanings. Take this into account when setting up a schedule for professional cleanings. Large carpets trap more contaminants, so they need cleaning multiple times a year. However, small carpets placed in the center of a room need daily cleanings because of the amount of traffic they receive.

Carpets that receive significant amounts of traffic need to be cleaned more often. As employees and visitors move around the office, debris from their shoes makes its way into the carpets. The cleanings remove this debris.

Business owners find they may choose from several carpet cleaning options. The type selected plays a role in how often the carpets need cleaning. A thorough cleaning comes with a higher price tag but won’t need repeating as often as a light cleaning.

Color plays a role in how often carpets need to be cleaned. Lighter-colored carpets show dirt easily, and any dirt present on the carpets can leave visitors with the wrong impression of the business. Consider having these carpets cleaned multiple times each year.

Dark-colored carpets hide dirt and stains better. However, this doesn’t mean a business owner should put off regular carpet cleanings. The fibers may hold odors and give visitors a negative opinion of the business.

People also need to factor in seasonal changes when determining how often to clean their carpets. Rain, snow, and mud all make their way into carpets during rainy or snowy seasons. In addition, the winter months come with salt and sand treatments, and these materials may make their way into carpets where they can do damage.

Dry seasons, in contrast, often come accompanied by dirt and dust. This dust and dirt make their way into carpets, as well. Consider having the carpets cleaned regularly, so these pollutants don’t harm the fibers and appearance of the carpets.

Additional Steps Needed to Keep Carpets Clean

Business owners need to vacuum their carpets weekly to remove any dirt and debris that has become trapped in the fibers. In addition, they need to vacuum the carpets correctly. Many people don’t realize there is a right and wrong way to do so.

Vacuum with the carpet’s grain to avoid premature wear and damage. Begin in the farthest corner of the room and work backward. This ensures no spots are missed, and the vacuum collects all dirt and debris from the fibers. After each cleaning, empty the vacuum canister or check the bag to see if the vacuum needs a new one. 

However, heavily trafficked areas need to be vacuumed more often. In fact, vacuum daily in those areas that receive constant use. This helps to prevent dirt and debris from making their way into the carpet fibers.

Furthermore, spot clean any stains immediately. Don’t allow the stain to sit on the carpet. Doing so makes it harder to remove the spot when a full cleaning is done. However, never assume spot cleaning is enough to keep carpets looking their best. Full carpet cleanings remain essential to keep floors looking their best.

Invest in mats at entryways. The mats reduce the number of pollutants that reach the carpets. This helps to keep the carpets clean while extending their lifespan.

Preventative cleanings are wise. A business owner should never wait until the carpet is filthy before having it cleaned. Consider having heavily trafficked areas cleaned monthly. For areas that receive moderate traffic, quarterly cleanings usually suffice. Areas that receive little traffic only need to be cleaned twice a year.

Why Use a Professional?

Professional carpet cleaners like Corvus bring tools and equipment to each job that the average person doesn’t have access to. For example, they bring commercial stain removers to address set-in stains.

The professional cleaner may use the hot-water extraction method to clean the carpets. Doing so helps to remove the set-in stains. The cleaner injects hot water and detergent into the carpets. They then use a special device to remove the dirt and extract the water.

Dry cleaning serves as another option to clean carpets. The cleaner applies a dry-cleaning agent to the carpets. They follow up by using a tool, such as a brush, to loosen any dirt in the carpet fibers. They then vacuum the loosened dirt up. 

Countless businesses invest in carpets today, thanks to their elegance and aesthetic appeal. In addition, with flooring materials, carpeting is one of the easiest to install. With proper care, carpets will last for years to come.

Regular cleanings serve as one way to care for carpets, so schedule an appointment today with Corvus Janitorial Systems for a professional carpet cleaning. Doing so provides the above mentioned benefits and more for your office.

Filed Under: Articles, Commercial Cleaning, Content Types, Guides, Tips & Trends, Topics Tagged With: Offices

How Important is Your Credit Score if You Want to Buy a Franchise?

November 18, 2022 by MalekaVrana

Aspiring entrepreneurs have numerous opportunities at their disposal these days. At this point, almost any dream can be transformed into a reality. No matter which products or services a person wants to provide to the public, there’s bound to be a market for it. On top of that, today’s entrepreneurs have found that there’s a variety of routes to success.

Taking the Franchise Route

Owning a business doesn’t necessarily mean having to start from scratch. Buying a franchise allows ambitious individuals to benefit from the success of an already-established company. It’s often an easier, less intimidating solution than the traditional route, especially when becoming part of a company that offers in-demand solutions like a janitorial services franchise, such as that offered by Corvus Janitorial Systems. Purchasing a franchise can be more affordable than building a business from the ground up as well. 

That’s not to say becoming a franchisee doesn’t come with a few challenges of its own, though. With so many options available, choosing the right franchise may be difficult. Securing financing may be a hurdle as well.

To make matters a bit more tedious, credit scores tend to factor into the equation when applying for business loans. These figures carry quite a bit of weight in the lending world even when purchasing a franchise. Though credit scores may not be the sole deciding factor when determining eligibility for a business loan or financing, they can simplify or complicate the situation.

Taking a Closer Look at Credit Scores

Chances are virtually anyone who has considered applying for any type of loan or financing has heard of a credit score. Without at least adequate credit, it’s exceedingly difficult to qualify for a mortgage, auto loan, credit card, or even a small store credit account. Having less-than-acceptable credit scores can render people ineligible to rent a home. Many employers even factor credit scores into job candidates’ qualifications.

What Are Credit Scores?

In short, credit scores are numbers assigned to people based on their purchasing and repayment histories among other factors, which we’ll delve deeper into shortly. In the United States, credit scores come from three main credit reporting agencies: TransUnion, Equifax, and Experian. Creditors report debtors’ activities to those agencies, and those activities are used to calculate debtors’ scores.

Since not all creditors report to all three agencies, people’s credit scores can easily vary from one to the next. Some lenders choose a single agency to follow when checking prospects’ credit histories. Others consider information from two of the three or all of them.

When factoring in credit scores from more than one reporting agency, lenders may base their eligibility determinations on an applicant’s average score. On the other hand, they may look at different determining factors from each agency before making their final decisions. As such, a potential borrower may appear to have a decent credit score from one reporting agency but still be denied a loan because of his or her status with another.

How Are Credit Scores Calculated?

As alluded to earlier, credit scores are made up of various components. All those aspects come together to give lenders a good idea of how well an applicant manages his or her finances and how likely that applicant is to repay a loan. Take a look at the five components of all credit scores. 

New Credit Accounts

One of the elements that makes up a credit score is the number of new credit accounts a person has. Having recently opened several new credit accounts can hamper a person’s borrowing power. Numerous recent credit inquiries can have the same effect. Lenders may view either of these factors as an added risk. Recent credit activity makes up 10 percent of a person’s credit score.

Credit Diversity

Lenders likewise consider the diversity of applicants’ credit. This also accounts for 10 percent of a person’s total score. Those who have a nice blend of account types are often viewed as a bit more creditworthy than those with only a single type of credit.

Say, for example, two applicants have the same credit score. One currently has an open installment loan, a mortgage, and a credit card on his or her credit report. The other has three credit cards. Despite having the same score, the former may be considered a more suitable borrower because of his or her borrowing diversity.

Length of Borrowing History

Next on the list is the length of a person’s borrowing history. After all, longer stories tend to include more details. Because of that, those with longer, more established credit histories may be more attractive to lenders than those who have only recently begun to borrow. This aspect comprises 15 percent of a person’s credit score. 

Amount of Money Owed

Credit scores also factor in the amount of money people currently owe on various accounts. This aspect encompasses the types of open credit accounts consumers currently have, their remaining balances, and the total amount of money owed on those debts. It also factors in the remaining amount of available credit a person may have. The amount of money owed to creditors accounts for 30 percent of a person’s credit score.

Payment History

Payment history is the most significant deciding factor when it comes to determining loan eligibility. This, alone, makes up 35 percent of a credit score. It revolves around a person’s track record of making payments on time and paying off loans in a timely manner. Late payments, delinquent accounts, and other negatives factor in here.

If a person has a habit of making payments late or allowing accounts to get so far behind they can’t be resolved, his or her credit score will drop. Bankruptcy and other financial issues have negative impacts on credit scores as well. If those problems appear on applicants’ credit reports, lenders may view them as unnecessarily risky and deem them ineligible for a loan.

How Do Credit Scores Affect Purchasing a Franchise?

Having said all that, it’s time to discuss how credit scores can affect a person’s ability to purchase a franchise. As far as many lenders are concerned, anything less than a good credit score may render an applicant ineligible for a loan. In terms of Experian, a credit score of 700 or more is good. With Equifax, the “good” range spans from 670 to 739. 

Those who are looking to purchase a franchise may not have to go through conventional lenders to acquire a business loan. In some cases, franchisors extend financing options to potential franchisees. They may also have their own networks of lenders to facilitate the purchasing process for applicants. Still, they pay close attention to prospects’ credit scores. Some place more emphasis on them than others, but they inevitably come into play. Corvus Janitorial Systems takes pride in offering robust financial assistance to potential franchisees and aims to make the process as easy as possible. We look at many factors in addition to your credit score.

Possible Complications Caused by Low Credit Scores

Having a low credit score doesn’t always mean all hope is lost. Some franchisors are willing to work with applicants and give them opportunities to succeed even if they don’t have strong borrowing histories. That’s also true of lenders. In fact, some lenders specialize in providing loans for people with bad credit. People whose credit has suffered in the past may face a few extra hurdles when applying for business loans or franchisor financing, though.

Needing a Business Plan

Lenders that dole out business loans typically require applicants to present well-thought-out business plans. Having a presentable plan shows lenders where their money will go. It also gives them a bit of reassurance that their borrowers have a clear sense of direction. 

From the franchisor’s perspective, a business plan that shows an applicant has already secured at least partial funding may serve as proof that the prospect deserves due consideration. In either case, a concrete plan could provide the extra incentive a lender needs to allow an applicant to proceed with purchasing a franchise. Once again, at Corvus, we have developed a system to offer easy financing and make the franchise purchase process as accessible as possible,

Paying Higher Interest Rates

Additionally, having a low credit score could subject a franchisee to higher-than-average interest rates on a business loan. Higher interest rates lead to higher monthly payments. They also leave borrowers paying far more in the long run. That could lead to financial hardships, especially in the beginning. It’ll most certainly eat into a business owner’s profits moving forward.

Resolving a Low Credit Score

Having a low credit score doesn’t necessarily mean a hopeful entrepreneur won’t be able to purchase a franchise. It could bring about a few problems and make the situation more difficult than it needs to be, though. With that in mind, those who want to purchase a franchise but are suffering from less-than-stellar credit may want to take a few extra measures before applying for a loan or franchisor financing.

Start off by requesting a credit report so there won’t be any unpleasant surprises after applying for funding. Be sure to address any errors on the credit report by contacting the reporting agency. Take care to make monthly payments on existing debts on time and avoid opening any new lines of credit. Consider paying down some larger debts before applying for financing for a more suitable debt-to-income ratio.

All Things Considered

In most cases, having a good credit score is the key to acquiring a business loan for purchasing a franchise. Even franchisors that offer financing take applicants’ credit scores into account. Having a credit score that doesn’t measure up to the usual standards doesn’t necessarily disqualify a candidate from becoming a franchisee, though. Some franchises, like Corvus Janitorial, make accessibility and financial assistance easy for potential franchisees.

Applicants who have lower credit scores may still be able to acquire funding. Doing so may require taking extra measures to raise those credit scores. Creating a detailed business plan may facilitate the process as well. Even then, lofty interest rates could be an issue. While credit scores aren’t the be-all and end-all when purchasing a franchise, they certainly factor into the equation.

For more information about starting a Corvus Janitorial Systems franchise, contact us today.

Filed Under: Articles, Content Types, Franchise Ownership, Start a Cleaning Business, Tips & Trends, Topics

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