How to obtain credit reports for small business

by admin on January 13, 2012

As a small business owner you will have a need for checking credit reports for other small businesses. You may want to see how they manage their bills, how many trade lines they have open, how long they have been in business, do they have a history of stiffing their vendors and suppliers, and so on.

So how do you obtain credit reports for other small businesses?

There are 3 major business credit report companies you can check out – Experian, Equifax and Dun and Bradstreet. All three offer small business credit reports and credit scores. They each have their risk profiles that can give you a good idea about establishing a relationship with another small business or not.

Dun and Bradstreet offers individual credit reports on another business for $59.99 each which allows you to do a quick and easy risk assessment on the target company.

Experian Small Business Research is available for as low as $29.95 for a Business Credit Score Report. You can find how the company stands up against certain risk factors, their history of bankruptcies, liens, judgments and business registrations.

Equifax Small Business offers a single business credit report for $99.95 and includes a small business credit score. If you have several small businesses you need to obtain reports on you can buy 5 reports for the price of 4 for $399.95.

As you can see you have several options for obtaining credit reports for a small business.

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How To Setup Your Dun & Bradstreet Credit Profile

by admin on December 13, 2011

As a small business owner you need to establish lines of credit or financing to keep your business running smoothly. You need to be able to get enough cash flow into your business to buy new equipment, pay your creditors, rent new office or manufacturing facilities. Having a Dun & Bradstreet credit profile for your new corporations is important if you want to be recognized by other small business owners.

How To Setup Your Dun & Bradstreet Credit Profilesmall business credit

You want to register your company with D&B using your legal business name. You can opt for the expedited service which will set you up with a DUNS number, or a Data Universal Number System, which identifies over 120 million businesses within the D&B database.This will provide you with your initial business credit profile and your DUNS number within 5 days for a cost of $229. Doing this will establish a basic credit profile in the Dun and Bradstreet system to start building credibility that other merchants and trade partners can see to start thinking about lending you credit or offering favorable financing terms.

Or you can wait 30 days for a free DUNS number but it does not include the basic business credit profile.

So if you want to go legit you kind of are forced to pay the $229 fee.

But if you can get new suppliers and vendors to trust your new small business because of it then it will have paid for itself many times over.

Then you can signup for their DNBi Self Monitor ($39 a month) to enhance your small business credit scores and get more lenders, financing companies, vendors, suppliers and more looking favorably at your company.

This can help you get a larger line of credit to upgrade your equipment, spend more on advertising, hire more employees to keep up with sales, etc.

Now head on over to Dun & Bradstreet credit your small business credit profile and increase your business’s credibility.

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Ordering your Commercial Credit Report Online

by admin on September 1, 2011

Commercial credit reporting is a very essential report that every small business must consider. So what is a commercial credit report? Basically, it is known as a small business credit report and score. It is just the same with the credit report of individual people. The only difference is that commercial credit reports provide information on all of the financial transactions of the company.

The credit report of a company plays a very important role in the financial success of the small business. It will be the basis of other companies if your business is trustworthy or not. You can probably have a lot of business deals in the future if your business has a good credit history. However, if your business has a poor small business credit score, you will surely have a hard time looking for companies that are willing to work hand in hand with your business – extend a line of credit, offer favorable payment terms, etc.

The credit report of a company can be affected by several reasons. All of these reasons are based on their financial capabilities. If the company has previous problems with money and they had a hard time paying their bills and taxes, it will reflect on their credit score. If they filed a bankruptcy report, it will also have a negative effect on the credit score even if they manage to survive bankruptcy. All of this can lower the credit score of your small business.loan application

A credit report is very important so you need to check them always. You must remember that credit reports are very prone to mistakes. These mistakes may sometimes be positive but it is usually negative. You need to check if there are wrong records in your credit report and immediately correct it. You can get your credit reports and score from the major financial commercial credit reporting companies: Equifax, Dun and Bradstreet and Experian.

As a small business owner, it is very important that you pay attention to your credit score. So you need to get your credit report and check if there are mistakes in it. If you are planning to check your credit report, it is better and more convenient to obtain small business credit reports online. You will not need to leave the comfort of your home just to get your credit report.

The internet provides a wide range of companies that provide small business credit reports and scores online. The first thing that you have to do is to check if the company where you will apply for your credit report is legitimate or not. Remember that companies that are not legitimate can provide you with false information about your credit report. Take the time to research about the company and ask for references before your provide some of your personal information. The best way to avoid scams is to stick with the top names: Equifax, Dun and Bradstreet and Experian.

The best thing about getting the credit report of your business online is that you do not have to wait for a long time. Once your order your credit reports online, you can easily access them from your computer. You will not need to wait for the report to be mailed to you. It may take a couple of days but when you order from the Internet, you can already access it after a few hours or minutes. The information on your credit report will also be protected because it will be given to you directly. No one will be able to access it aside from you. You will also save more money. Order your commercial credit report online today.

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Experian Small Business Credit Reports and Scores Review

by admin on June 22, 2011

Getting your credit history is not too hard especially if you already know where to get one. Of course you will have to consider a trustworthy and reliable source of information before you provide your personal details to them. Experian is one of the three major consumer companies that provide credit reports to individuals and businesses as well. It is a well known credit reporting agency that a lot of Americans trust because of providing accurate information with regard to credit reports and scores for consumers and small business.

As a small business owner, it is very important that you know the effect of credit scores in your small business. You must be aware about the negative and positive effects that it can bring to your business. Because of this, monitoring your credit reports is very essential for your business. Experian made this process really easy for consumers as well as small business owners. They are offering different credit options for business owners for very reasonable rates. Aside from this, you also need to consider the credit score of other businesses that you are thinking of doing business with. You will probably save more money if you will check their small business credit scores as well.

The price for the small business credit reports of any company that you want to check costs $49.95. For this price, you can already check the credit history of a particular company before you do business with them. It provides a complete company profile including some of their past financial transactions and how well they paid their debts. You can be able to see the exact credit score of the business and all the negative and positive factors that affect their credit score.

A chart will also be available that provides a detailed information on their available credit to the amount of credit that they already taken out. You need to make sure that they are not maxed out when it comes to their credit cards. When this happens, it may mean that they overextended themselves and they can be at risk of bankruptcy. Aside from this, you can also determine if their ability to pay their debts on time. It will show how long it takes them to pay out the payments that must be paid and if there are any late payments. You can also know how many days their late payments were. All their account information is also included on the credit report as well as public records and some comments about the other business that worked with them in the past.

The price above is only for a single business. If you are planning to check the credit reports of several businesses, you can consider buying a Business Credit Pro Subscription Plan for $150 a month or $1495 a year. It will give you 30 different company credit reports and scores. This can help you check the credit reports of other companies for a very affordable price. It will surely save you a lot of money if you are planning to check the credit reports of more than 3 companies on a monthly basis.

Another thing about Experian is that they provide a continuous monitoring business plan for small business owners. You will only need to pay $99 a year if you want to be updated on the credit scores of a small business. This will provide you information if there will be any changes in the status or new information is added to the report. It will also indicate if the added information has a positive or negative effect on the credit score of the business. This can be a good action if you want to continue your small company relationship with other small businesses.

You can also purchase less extensive company reports for as low as $8. This is called a BizVerify Report and it will provide you a quick snapshot of a target company’s credit. There is also a CreditScore – Small Business Credit Score report available for $29.95 which provides a more extensive report and include a Experian Credit Ranking Score.

As you can see, Experian offers several options available to the small business owner who wants to learn more about a small company before they establish a long term vendor/supplier relationship.

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Equifax Small Business Credit Reports and Scores

by admin on May 26, 2011

So why is it important that you know the credit score of your business as well as the credit score of other businesses? As you can see, the credit score of a company determines its financial ability to pay their debts and bills. The credit score of the company will reflect all the financial transactions that they made and how well they paid their bills. For a lot of other business owners, it is one of the deciding factors if they will do business on a certain company or not since business means money talks.

In order to check a small business credit score, you will first need to find a consumer company that can provide accurate information with regard to the credit history of a certain company. Actually, there are a lot of companies out there that offer this kind of services but not all of them are legitimate. Some of them provide false information so you have to check the background of the company before you provide any personal information.

You can save a lot of time if you will consider Equifax small business credit reports and scores. It is one of the three major consumer and commercial companies that provide accurate information when it comes to consumer and commercial credit reports. A lot of people go to Equifax to know their personal credit scores as well as the credit score of their small businesses.

Why is it important that you check the credit history of a certain company before they do business? Basically, a credit history is solely based on the ability of a company to pay their bills. It includes their ability to pay on time and if there are missed or late payments made. It reflects the action made by a certain company when it comes to payments.

Probably, if a company has a lower credit score, it is possible that they made late payments or they still have remaining balances that are not yet paid. You will not want to make a deal with a business that has records of late payments and missed payments. You don’t want to be waiting around to get paid for merchandise or services you performed months ago. The same scenario will probably happen to your small business if you do business with companies with a lower commercial credit score.

How much do Equifax Small Business Credit Reports and Scores cost?

Image representing Equifax as depicted in Crun...

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When you obtain a small business credit report and score from Equifax Small Business, all the information that you need is already available. You will only need to pay $99.95 for a single credit report and score of a company.

You can also buy small business credit reports and scores in bulk and save – you can buy 5 company reports for $399.95. Equifax also offers small business credit monitoring for $19.95 a month or $199.95 a year.

So what are the contents of these business credit reports and scores? It contains a complete and accurate company profile.  It also includes some of their financial transactions made in the past and their ability to pay their debts and payments on time. The exact credit score of the business will also be found in the small business profile. The factors that lower or strengthen the credit score is also written their so you can easily analyze if they are capable of paying on time or not. It also contains a chart that shows their available credit and the amount of credit that was already taken out.

Aside from this, the credit report will also show if they have any maxed out credit cards. Overextended credit cards or lines of credit may lead to bankruptcy in the future. Like what is said earlier, it will provide detailed information on how well they pay their bills. It will show how long does it take them to pay their bills and if they missed a payment or made some late payments. Comments from the previous companies that they work with will also be available in the credit report. Equifax is probably one of the best companies that you must consider if you want to get accurate information about a company when it comes to their financial capabilities.

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Dun and Bradstreet Small Business Credit Report and Score Review

by admin on May 23, 2011

You need to know all the important things when it comes to your small business flourishing. Nowadays, it is essential to do the things that can help your enterprise to grow in every way possible, making way to optimize it effectiveness. This is where checking your Dun and Bradstreet small business credit report and score can help you.

At some point, you need to backup your small business in order to maintain its capabilities and the things it can offer to you and to your clients. There will come to a point that you will need to apply for a loan in order to keep your business going. However, you need to know several factors that will likely affect your effort in applying for a loan.

First, you need to know your small business credit score. Having a good credit score will increase your chances for your loan to be approved. This will let you continue your business in every single way. There are several companies that can help you in knowing your credit score. They can give you knowledge with regards to your credit report. Knowing what is in your Dun and Bradstreet small business credit report and score will allow you to go on with your enterprise effectively and efficiently. In addition, they can give you the important information, insights and the best solutions in order to help you direct your business towards success.

How much do Dun and Bradstreet small business credit reports and scores cost?

The Credit eValuator Plus report and score allows you to do a quick low risk assessment on a target company. These reports cost $59.99 each or you can buy them in bulk and get them for as low as $49.99 each.

The next report you can buy is called a Business Information report and it provides a more moderate risk assessment of a target company. These reports cost $119 each.

The next report you can buy is called a Comprehensive Insight Plus Report. These reports provide Dun and Bradstreet’s most in-depth evaluation of a company’s short and long term prospects along with a financial stress score and a commercial credit score. These small business credit reports and scores cost $149 each.

You can also buy CreditAdvisor reports which provide you continuous risk monitoring. These reports offer you 12 month small business credit monitoring for $179 each or you can monitor 15 small businesses for $1499.

These solutions can determine if you have what it takes to apply for a loan and it will determine if you have the capabilities to repay lenders once you have obtain the loan you need. This is actually the best service that you can get with regards in knowing your credit score in the most effective way. You should always know that once you have the loan you need, you have to commit yourself in paying for it, or else, it will do damages to your business and reputation.

You also need to know how Dun and Bradstreet Small Business credits scoring system works. You need to know that it will rely on the statistics of your company in order to help them to assess your capabilities to apply for a loan. There are different factors that lenders will look into just to know if your business is substantial enough to be under a loan. Your credit report should possess good credit score in order for you to really take advantage of having loans.  However, if you have bad small business credit score, you need to work your way up in order to have it on a positive note.

Furthermore, there are ways to improve your commercial credit score. You need to know those areas of your business that play a major role about your credit score. With the services being offered by Dun and Bradstreet, it can help review your business credit report and it will make sure that you will have the most recent and precise information with regards to your credit score. Also, you need to pay all your obligations in time in order for you to have good credit score. You can do this by improving the cash going into your business. However, you need to make sure to get the total satisfaction that your customers want.

In general, your small business will really flourish in every single way if you will maintain good credit score in order for you to get the loan you need. With the wonders Dun and Bradstreet can do to your business, you will surely have the best result in your every transaction. They will make sure that you are on the right track; therefore, enhancing your small business credit score in every single way. You should know that it is very important to have good credit score in order to keep your business at its utmost capability. With Dun and Bradstreet, you are ought to experience the best help with regards to your business.

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What is a Commercial Credit Score?

by admin on May 17, 2011

If you are a small business owner, you may already hear about the term commercial credit report. Actually, it is simply a small business credit report. Small business owners must know everything about their credit reports because it has a great effect on the financial status of their business.

Basically, a small business credit report and the individual credit reports works in a similar manner. If you have a good credit score, you can probably obtain better deals. If you have a bad credit score, you will surely have a hard time in your loan application. The same scenario goes with small business credit reports and scores.

So what are the possible effects of a damaged credit scores for small businesses? It can seriously affect the financial part of your small business. It is a vital part since your business will not continue to operate if you will be having problems with your financial status. Basically, it can lead to higher interest rates, difficulty in the application for loans and difficulty in securing a reliable supplier.

When your business is planning to apply for a loan, a bad commercial credit score can lead to problems on the approval of your loan applications or lines of credit. Financial institutions and lending companies look at the credit score of small businesses before they approve them for any loan. Big money is at stake here so lending companies and financial institutions will surely study about your credit capabilities.

A business with poor commercial credit score can be a big threat to them since there is no assurance that the company can be able to pay the money that will be given to them. Because of this, small businesses that are applying for loan are having a hard time on the approval.

Darryl trying to get the bank to give Kevin a ...

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Another thing is that even if you are approved for the loan, huge interest rates will probably be given to you. Like the process in the credit report of individual people, you can only obtain good interest rates if you have good credit scores. It is nearly impossible to get good interest rates if you have a poor credit score. You will probably have a hard time asking for lower interest rates if you do not have a good credit score.

The worst thing with a poor credit score is that you will have a hard time looking for reliable suppliers. Other businesses will also look for your commercial credit score before they do business with you. If they see that you have a poor credit score, it is possible that they will not continue their deal with you. A poor credit score for a small business means that you are not trustworthy when it comes to money matters.

If you want to prevent this from happening, you need to check your small business credit report and score regularly to know if there are mistakes made in it. If you want to know your credit score, you can consider the three commercial credit agencies: Equifax, Experian, and Dun and Bradstreet. They are very reliable sources of your small business credit scores. It is easier and more convenient if you will order your credit score on the Internet.

You can easily have access to your credit scores faster if you order online. There are a lot of companies that offer credit reports online but not all of them are legitimate so you need to be careful. It is still better if you will consider the three commercial credit reporting agencies if you want to check your commercial credit score.

Always keep in mind that credit reports are prone to mistake so it will not be hard to check it often to know if the information there is accurate.

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Credit Reports for Small Business – Why Do You Need Them?

by admin on May 11, 2011

If you are a small business owner, it is very important that you pay attention to the credit report of your business. Credit reports are not only recorded for people who are applying for loans or credit cards. They are also given for small and large businesses.

A small business credit report is also known as a commercial credit report. It consists of all the credit activities of small businesses and other companies. It provides all the credit transactions of the companies. It basically shows the credit facilities that are accessed by the companies and how well they pay these debts. So how can you obtain credit reports for small businesses?

Like the credit reports of individual people, small business owners can also get their credit reports from the major business credit reporting agencies – Equifax, Dun and Bradstreet, and Experian. Two of the three are also consumer credit reporting companies that provide business as well as other people with their credit reports.

Companies and small businesses always try their best to have a good credit rating. The credit reports of small business will also be a basis for the decisions of other businesses when you talk about business. If your business has a negative small business credit score, it will be very hard to look for other business that will do business with you that may result in your business suffering. There are some steps that you can consider on how you can maintain a good credit score for your business.

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First, you need to make sure that the information found on the business credit report is accurate. You must be aware that credit reports are prone to mistakes. You need to check your company credit report regularly so you can correct any mistakes that are recorded in your credit report. You must be aware that once businesses found out that you have a negative credit score; it is possible that they will not initiate any business with you so you need to make sure that all the information in your credit report is accurate.

Second, you also need to check the credit reports of other business before you consider working with them in the future. If you are currently working with a business with a low business credit score, you will be at higher risk of losing money. It may mean that they will not hold up to their end of bargain and you will surely lose a lot of money.

Third, if you want to make sure that you have a good business credit score, you have to consider the things that can negatively affect your credit score. Basically, your credit report is more like a documented history of the borrowing practices of businesses and individuals. All the financially related matters of a business or an individual are recorded in the credit report like financial dealings, tax history and others. Lending companies look at the credit reports of business and individuals before they decide if they will accept the loan application.

They check the credit reports to know if a business or an individual has the ability to pay the money that will be given to them. They will also check the credit report to know if the business is financially stable to pay the loan on time. The credit report of small businesses can be affected by late payments and repeated dealings with collection agencies.

Aside from that, filing bankruptcy can also affect your small business credit score. Filing bankruptcy is like announcing that your business is not financially stable to continue its operation. Even if your business recovered from bankruptcy, it will still be seen in your credit score. They will also check if there are any pending lawsuits against your business and if there are payments that must be given to settle the lawsuits.

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How to Perform A Small Business Credit Check Effectively?

by admin on May 6, 2011

You should know that small business credit check will help other businesses to determine if you have an effective enterprise. In this way, they can assist you if you have what it takes to go on with your business in every single way. Having the best help for your business to grow is essential, that is why more and more companies will determine if you are getting the best service for your business. Also, if you have a good business credit score, your business is a go. With this, you can be able to continue your business in every way possible, given the fact that your credit score is at its highest level.

More and more businesses will have transactions with you if they found out that your business has a good reputation, however, if you have negative company credit score, it will affect your business in many ways. Other establishments will be reluctant in making business with you because they can be able to determine that your business is a flop, not generating enough cash, not paying your bills on time, etc. This is where you should focus. You need to look on all the possibilities in order to maintain your credit score on a positive note. This will allow for you to succeed in every business that you will take part of.

In order for you to run a small business credit check in the most effective way, you should know first the definition of a small business credit report. A credit report is a document wherein you can see all the transactions that have transpired with regards to your business. You should know that the things essential to your business like tax history and financial capabilities are included in your credit report. Having an accurate business credit report will help you to have the information with regards to your credit report. As a result, it will help to be approved if you will apply for a loan, line of credit or more generous payment terms from a vendor or supplier.

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An accurate business credit report will give you guarantee that you have the upper hand in having a loan that can help your business to flourish. Having an accurate credit report will help lenders effectively assess your capabilities of having a loan and paying it back on time. They will assess you if you can repay when the right time comes. You should know if you have any transactions in the past that did not go quite well, it will damage your effort in having a loan for your business. Therefore, it is safe to say that you really need to keep your business credit score at good level all the time.

There are different commercial credit reporting agencies that will look into your small business credit report and scores (Equifax, Experian, and Dun and Bradstreet are the main small business credit reporting companies). They will be the ones responsible if you have what it takes to apply for a loan. With this said, it is important for you to rally have a substantial credit report in order for you to change several essential pointers if there are any inconsistencies on it. Lenders and other financial firms will check into your credit report in order to assess if it is good enough for them to let you apply for a loan.

However, you should know that they are not the only ones that will look into your credit report. Other companies who want to have a transaction with you in the future can access your report, making way for them to know if you are eligible enough to have a transaction with them. In general, small business credit check will make wonders for your business or it is the other way around. You just need to pay your obligations on time in order for you to maintain your credit score in a well-maintained position. In this way, you do not have to worry about it all the time. Likewise, this will help your business to be effective regarding to your future endeavors.

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Monitor Business Credit with Experian, Equifax and Dun and Bradstreet

by admin on May 4, 2011

As a small business owner, it is very important that you pay attention to your own business credit score as well as the credit scores of other companies that you are doing business with. Some of you might think that credit scores do not affect the entire operation of a business. It may not directly affect the operations of your business but it can have a negative effect on the financial standing of your business.

So how important is it to be aware of the credit scores of your business? If you are planning to do business with other companies, they will probably check your credit score. They will check if your business has the capacity to pay bills on time and if your small business is financially stable. If you have a poor credit score, it is possible that you will not be able to do business with other companies or get a much needed business line of credit. They will find your business as a big threat on their financial status.

Of course before your do business with other companies, you also need to check their small business credit scores. You will not want to do business with a company that has previous records of late payment or previous filing of bankruptcy. Your small business will suffer when this happens.

How can you check your credit score and the credit history of other companies? Here are some of the companies that will help you check your credit score and monitor business credit.

First is Dun and Bradstreet credit report company. If you are looking for a company that can provide your credit report and the credit reports of other companies, you can consider Dun and Bradstreet. It is one of the most popular business credit reporting company today. With the help of the credit report and score provided by Dun and Bradstreet, you can have a more accurate financial decision for your company. You can also obtain valuable insights into customers, prospects, competitors and suppliers. The company will also help your business decided whether or not to offer credit to company. It can also help increase the cash flow of your business by helping you eliminate some of the financial risks. Dun and Bradstreet credit reports and Paydex score starts at $59.99 but you can buy them as low as $49.90 if you buy 10 reports in bulk.

You can monitor your company’s credit rating as well as the credit rating of other business. You can keep an eye of your business credit score to know if there are improvements or there are some mistakes on your credit report.

The second way to monitor business credit is Equifax. When it comes to accuracy and reliability, you can consider the services offered by Equifax. You can work with them for a long time if you are planning to monitor your credit score or if you want to check the credit score of the company that you are doing business with. You will only pay $19.95 per month if you want a monthly update of the credit score of your company or other companies. It will provide some basic information if there is a change in status and if the new information added can negatively or positively affect the credit score of the business. This is very important especially if you have a long-term business relationship on a specific company.

The third way to monitor business credit is Experian. Like Equifax, Experian is also one of the three major consumer companies on the market. They are reliable source of credit score information and they provide accurate data on the credit score of your business as well as the credit scores of other businesses. If you are planning to monitor the credit score of your own business or planning to monitor the credit score of other businesses, you can sign up with Experian for their Business Credit Advantage Package. You can already monitor your business credit or other businesses credit score by only paying $14.95 every month and $99 for the whole year.

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