Business Credit Agencies

There is almost always a right way and a wrong way to start, grow, and run your business.  The same goes for building business credit scores.  Most small business owners and entrepreneurs don't even know they have a business credit score or what it is used for.  The right way of building business credit scores with the three business credit reporting agencies can make the difference of whether or not your business is approved or declined for true unsecured business financing.

The three main business credit reporting agencies are Experian Smart Business Reports, Equifax Small Business Financial Exchange, and Dun & Bradstreet.  The reason why it is so important to establish business credit scores with all three agencies is because each agency entertains different vertical business genres in the United States.  For example, most business banks utilize the Equifax Small Business Financial Exchange to trade business banking data.  Most banks will report their information to Equifax. 

The three main business credit reporting agencies are Experian Smart Business Reports, Equifax Small Business Financial Exchange, and Dun & Bradstreet.

The same goes for Experian and Dun & Bradstreet.  Most of the vendors that grant credit terms along with most of the major credit card companies report their data to Experian Smart Business Reports.  Most vendors and credit card companies will pull an Experian business credit report as apart of their normal underwriting practices.  As far as business lending from banks and other lending institutions, Equifax and Dun & Bradstreet are the two that are most important.

Another mistake that many small business owners and entrepreneurs make is thinking that just because they have a PAYDEX score, they have good business credit.  This is most definitely not true.  Just because you have a personal credit score does not mean you have a good personal credit score.  The same goes for your PAYDEX score.  With the business credit reporting agencies it is important to make your payments EARLY and not just on time.  Paying your business bills on time will give you an average PAYDEX score.  Paying your business bills early will give you a positive PAYDEX score. 

Just because you have a PAYDEX score does not mean you have a GOOD business credit score.  You must pay your bills early to have a high business credit score.

Our business credit building system will open your profile with all three business credit reporting agencies.  Not only will we assist you in opening your file, we will take you step by step on how to grow your business credit scores to a point where your business can be approved for true unsecured business financing.

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