While there are quite a few business credit reporting agencies that could have your records and have an impact on your business fundability, there are just four that you really have to keep an eye on. These four super agencies that banks and other lenders use to determine your loan eligibility are:•
- Dun & Bradstreet, sometimes known as D&B
- Experian Business, a separate entity from the personal credit reporting agency that Experian operates
- Equifax Business, also separate from personal credit reporting
- Business Credit USA
Why More Than One?
It is important to keep an eye on all four of the major business credit reporting agencies, because just like with your personal credit reports, some lenders will report to one or two and not the others. If you are watching the wrong one, you may get a false idea of how strong your business fundability is.
The biggest business credit reporting agency is Dun & Bradstreet. There are advantages to having an account with them. They offer many services to help businesses create a stronger credit history, and also provide DUNS numbers that lenders will use to identify your company as a separate entity from your personal credit.
There are other places online that you can get helpful advice on creating a better business credit score within the business fundability system. Using all of the information you can find to increase your credit score will make it easier to get business credit cards, bank loans and other funding when you need it.
Business credit scores shown by the above business credit reporting agencies also provide information to potential consumers and other businesses to help them determine your reputation. This comes as a shock to many new business owners who are used to the fact that personal credit scores are kept private unless they agree to let a lender or some other business owner see them.
Business credit scores are open to public view because they do more than just provide an outlook on how fundable a business is. They can give consumers a feel for how well you handle your business and let other business owners know if you can be trusted to work with them.
Business Credit Reports