Your best bet as a small business owner is to stay on top of your business credit reports from PAYDEX, Equifax, and Experian.

There are three big credit reporting agencies for businesses and you really need to check all three of them regularly as they use slightly different criteria and so moving the needle for one can move the needle for the two others, although maybe not as much.

Do not let your business credit scores slide, as you need to pounce on any errors as soon as you can, and also spot anything which is pulling your scores down and then take corrective action. You can get your reports easily and stay right on top of all three scores by following a few simple steps.

PAYDEX

Dun & Bradstreet’s PAYDEX score of your small business can end up being one of the main reasons why your company gets credit at all. D&B offers Credit Signal, which is a way to keep track of your credit score by having the reports come directly to you, for a fee. You may find the cost is well worth it in order to avoid the headaches that can come from letting this score slip, and to not have to create and manage the scheduling and reminders you might need to keep up with if you don’t use it.

Equifax

Equifax, one of the large credit reporting agencies, offers a risk monitoring service which is more convenient as it allows for reports to come straight to you. If you don’t want to pay for ongoing reports, you can instead order your business’s Equifax report . In addition, if you need to dispute your small business’s Equifax report, you can do so by following the instructions here. You can learn to review your Equifax report by checking out a sample of their reports.

Experian

Can a company have a business credit score and report?

A good business credit report and score are essential for getting the money you need to successfully run and grow your business. A good credit score can save you money with lower interest rates, provide business credit without the need for a personal guarantee, and improve the overall image of your company.

Business credit reports can also serve a vital role in managing credit risk with companies that you deal with.

The information in Experian's business credit reports is continually updated, always accessible and includes the Experian business credit score (both the Intelliscore Plus and Financial Stability Risk rating), credit trade payment information, corporate registration, business public records, key personnel, and a lot more.

Experian's Business Information Services is a leader in providing data and predictive insights to organizations, helping them mitigate risk and improve profitability. The company's business database provides comprehensive, third-party-verified information on 99.9 percent of all U.S. companies, with the industry's most extensive data on the broad spectrum of small and midsize businesses.

Why monitor your Experian business credit report?

How does business credit monitoring work?   Business credit monitoring keeps a daily watch on your business credit report and score for any changes reported to Experian, including changes that can be linked to inaccurate or fraudulent activity. It works by sending you alerts when there is activity or changes in your business credit, making it easy for you to stay on top of your business credit and financial information.

Why do I need business credit monitoring?   Business credit monitoring can help you spot inaccuracies in your business credit report that could be the result of outdated or misreported information, including business identity theft that can negatively affect your business credit score. Such negative impacts to your business credit report could lead to higher interest rates and even a small business credit card or loan rejection. Keeping track of the changes in your business credit report can give you enough time to repair any issues that might be a factor when applying for small business credit tradeline.

Monitoring your business credit can help you better prepare for business growth opportunities and avoid surprises when you go to apply for loans. Generally, it's recommended to monitor your business credit report and score for at least three months before getting a small business loan or line of credit. That way, you can ensure everything is in order and see what improvements you can make. It's also a good idea to check your business credit report after your loan to verify the accuracy and know the impacts to your business credit score.Experian, another big credit reporting agency, also offers a means for getting reports sent to you for a fee. Hence you can monitor your Experian business credit score here and the setup is easy. However, if you would rather not get regular reports (and pay for them), then you can order an individual Experian report for your company . Also, if there are any problems or issues, you can dispute any errors on your company’s Experian report if you follow the directions here. Learn about reviewing your Experian report by reviewing a sample Experian business credit report.

Sometimes, it pays to hand over a few dollars in order to make sure you get your business credit reports regularly. It’s a lot easier than having to remember to do this and you’ll probably look at these reports more carefully, as they come at a price. Keep on track and use the tools these credit reporting agencies provide, and make your life easier. After all, you’ve already got enough on your plate.

As a CRUSA Financial Solutions client, you get a discount on credit monitoring, and extensive training on how to navigate your business credit reports and scores.

Contact us today to access business credit, loans, and credit lines to grow your company.  We are here to help at CREDIT REPAIR USA Financial Solutions. Call 888-853-3880 or on website you can make a consultation today.