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Commercial Credit Reports – What They Mean to Your Business and Where You Can Find Them

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Commercial credit reports are to your business what your personal credit report is to your individual credit history. However, commercial credit reports go one step further. Along with telling lenders what your company’s finances look like and how reliable it is in meeting its obligations, anyone can access a business’ credit history. Many consumers will check on a company’s credit background to determine if they are reliable and trustworthy. Other businesses will likewise look for traits that make your business a good partner or resource.

That makes a good credit rating even more important to your business than solid credit ratings are to you personally. Of course, how your credit report looks to lenders will be important to your business. Businesses always need a source of operating funds whether they are just starting or have been in business for decades. There is never a time a business owner can let down their guard regarding the way a commercial credit report makes their company look.

Finding Your Commercial Credit Report

Getting a copy of your commercial credit report is easy. There are plenty of places to order a copy. Just like with your personal credit report, it is always best to order a commercial credit report from several different resources to get the full picture of how your rating stands.

The most popular business reporting agencies are Dun & Bradstreet, Equifax Business and Experian Business Credit. There are a dozen others, but you should at least get a report from the top three. It is a good idea to keep track of your report on a regular basis. The cheapest way to do that is to join a credit reporting service. They can help you in many ways, first alerting you to changes in your report and also helping you keep track of your payments and even getting accounts paid up from delinquent customers.

To get a free commercial credit report you can do what any consumer would to get a personal one. Apply for credit and then if you get declined, request a free copy of the report the agency used to determine your denial. Of course, if your credit rating is good, you may not get turned down, but then you have another funding resource.


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