Almost every consumer has a personal credit report as long as they use some form of credit. But there is also a business credit report which is the credit profile of a business if you own one. You should access and get a copy of your business credit report if your business works as an individual identity and has its own liabilities such as loans, credit cards etc. A business credit report pretty much works the same way as a personal credit report where negative information on a business credit report can affect the potential of getting approved for a business loan in the name of your business. A business credit report is representative of the financial worthiness and stability of your business. One of the places where you might consider your credit report for your business is Dun and Bradstreet.
Dun and Bradstreet offer a variety of services for monitoring your company’s credit such as general overview of your company’s credit worthiness, complaints if credit reports that include credit score as well as offering you a credit monitoring service.
Dun and Bradstreet also offer advice improving your company’s credit rating.
A business credit report will provide you with statistical data on the history of your company its location and income.
Like a personal credit report a business credit report shows the image history, current and slate accounts as well as the risk worthiness debt is updated by it to a lender who might use it to evaluate your application for a business loan. Information elected from public records such as lawsuits and tax liens will also be included on the business credit report. In case your business is not registered on Dun and Bradstreet you will need to use an alternative to get your business credit report such as using the Experian business services to obtain a credit report on the profile of your company. There are also various other services that can help you in providing you with a business credit report for your business.
Some of organizations providing business credit reporting services are Equifax Business, FDInsight, Credit.net and ClientChecker. While in the case of a personal credit report, it is clear that creditors mainly use credit report from three credit bureaus, things might be slightly more confusing it comes to business credit report since many different credit reporting agencies may have information regarding a business. Finding out from the creditor which business credit report uses may be a good idea before you check that particular business credit report before making an application for credit.
Just like information on a personal credit report needs to be kept accurate and updated, information on the business credit report should also be properly maintained so that your creditworthiness and risk factors are reported accurately.