how to get a business credit report
Effective administration of your company depends on your keeping constant observation of its credit record and score. As evaluated by lenders, suppliers, and partners, business credit reports and ratings provide an evaluation of your company's general creditworthiness. Moreover, by routinely analyzing your company credit reports from the corporate credit agencies, this function ensures getting alerts about any inaccuracies or fraudulent activity, or at least any cases of a drop in your credit scores. If you want to get your corporate credit reports, the following succinct guidelines might help you:
Selecting the Business Credit Reporting Agencies
The first choice is deciding which credit bureau you want reports from. Among the main commercial credit agencies providing credit reports and ratings for companies are: The main commercial credit agencies providing credit reports and ratings for companies are:
- CreditBuilders offers FICO Business Bureau ratings, FICO Business Score, and Intelliscore credit rating.
- Equifax provides Business Credit reports, details of payments and outstanding debt, collections, and information provided by business creditors to Equifax.
- Business Credit reports from Dun & Bradstreet include the PAYDEX business credit file.
Therefore, you can buy your business credit report and score from one or all three bureaus, depending on the need for a comprehensive financial statement of your business.
Collect Necessary Information
You must input some personal information about your firm so the systems may authorize you to access your business credit reports. Make sure you have the following ready before calling to get your reports or log on to the credit bureau websites: Make sure you have the following ready before calling to get your reports or logging on to the credit agencies' websites:
- It is required to provide your business’s legal name, address, phone number, and federal Employer Identification Number (EIN).
- Legal name, position, phone number, SSN
- Numbers that represent your business’s industrial classification, may be NAICS or SIC codes.
Order Your Credit Reports
It is now possible to go ahead and have all the necessary tools for the completion of the credit check request. Here are the steps to ordering your business credit reports from each bureau: Here are the steps to ordering your business credit reports from each bureau:
Experian Intelliscore Plus
1. Go to the website of Experian and provide your identification details at the relevant places which will appear on the screen.
2. You will find Report & Intelliscore for $39.95 to get the whole business file.
3. The one-time report offers contain your complete business credit report and the Intelliscore business credit rating.
Equifax Business Credit Report
1. Open a new tab and go to Equifax’s online order page and on the form, input your company details.
2. Select the business report of the state you are from. It ranges from $99.95 to $160.85 for each state.
3. These reports are your full business credit file from Equifax that does exclude your credit score.
The Dun & Bradstreet Business Credit Report
1. The next step that you need to take is to log into your D&B account, if you are already a member, if not then you have to register with Dunn and Bradstreet.
2. In the next step, go to Order Credit Reports & Scores.
3. Business Credit Report costs $119 to view your full credit file and PAYDEX Score: Select Business Credit Report.
Review Your Credit Reports
The next step is to read through all pages of your business credit reports as soon as you can. Ensure that the identification information provided is correct and that there are no gross mistakes in the financial data. Also, identify any space where there is no credit data, current scores as well as negative remarks on your payment to know what can be done. I also discovered that while monitoring and building business credit is a time-consuming process, it is imperative to pay attention to the reports.
Based on your circumstances, you might need to monitor it on a quarterly or monthly basis to ensure you get the best results. For any other questions and issues that have not been already addressed, contact the bureaus’ customer service departments. This means that your company should always be on the lookout for issues with credit reports and financial standing for better business outcomes.
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