CreditStrong for Business

AUGUST 23, 2024

The Major Business Credit Reporting Agencies The job of a business credit reporting agency (also called a business credit bureau) is to gather information about your company. A credit bureau gathers details from your previous creditors and other sources and puts that data into a business credit file.

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CreditStrong for Business

OCTOBER 18, 2024

Yet lenders that use PayNet Scores will typically consider a PayNet MasterScore of 700 or higher to indicate a low level of credit risk. PayNet® is a business credit reporting agency that maintains a database of more than 25 million small business contracts — small business loan accounts, business leases, and business lines of credit.

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CreditStrong for Business

JULY 11, 2024

Equifax’s three primary business credit scores are their Credit Risk Score, Payment Index Score, and Business Failure Score. A good Credit Risk Score or Payment Index Score generally indicates that your business is likely to make its payments on time. The lower the score, the higher the risk.

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CreditStrong for Business

NOVEMBER 8, 2024

New lenders or suppliers might also review a trade reference letter when you fill out a credit application. Looking over your past payment history on other accounts can help these businesses determine whether your company is a good credit risk. They can help your company establish positive business credit.

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Know-It Global

MARCH 21, 2023

The key metric displayed on a business credit report is a business credit score. Each credit reporting agency will use slightly different scoring criteria and algorithms, but this score will let you know at a glance the credit-worthiness of a company. The credit limit is also displayed here.

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CreditStrong for Business

AUGUST 16, 2024

business loan, business credit line, etc.), A business credit reporting agency can also use your EIN to open a business credit file for your company. Request a DUNS Number Before your business can qualify for certain types of funding, you will need to establish business credit scores.

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Fundera

SEPTEMBER 29, 2017

But making heads or tails of your business credit report can be tricky. What is a Business Credit Report? There are three main business credit reporting agencies: Dun & Bradstreet (D&B), Experian , and Equifax. This is really no different than the concept of a personal credit report.

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