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It is always a good idea to be aware of what is on your personal credit report, but if you own a business, it is also a good idea to obtain a copy of your business credit report. Just as negative information on your personal credit report can make it difficult for you to obtain loans, negative information on your business report can cause the same problems and ultimately harm your business.
A business credit report is a representation of your company’s financial stability. One place that you might consider for obtaining a credit report for your business is Dun and Bradstreet.
Dun and Bradstreet offer a variety of services for monitoring your company’s credit. The most basic option is a general overview of your company’s credit worthiness. Other options include a more comprehensive credit report that includes your credit score as well as credit monitoring services. They will even offer advice for improving your company’s credit standing. The basic business credit report will typically provide information regarding the history of your company as well as data on its worth, location and income.
It will also commonly show a risk summary for your business that will also include the risk that a potential lender would take regarding late payments if you are approved for a loan. Your company’s current payment history will also be shown which will include current as well as late payments. Information regarding public suits and any liens or other legal information that have been reported will also be included on the report.
If your business is not listed on Dun and Bradstreet, which may be the case with a small business, then you will need a business credit report alternative. In this case, you should check with other credit reporting agencies, such as Experian Business, in order to obtain a report of your company’s financial matters. There are also several other business credit reporting agencies that you can check with regarding a business credit report.
These agencies include Equifax Business, FDInsight, Credit.net and ClientChecker. Remember that there are three major credit reporting agencies for personal credit and it is always a good idea to check all three to be sure where your personal credit stands. The same is true of your business credit. Checking all business credit reporting agencies can help to ensure that you have an overall view of your business’ financial standing.