Business credit reports
Business credit reports are established by credit reporting
agencies when a business borrows from a lender. Business credit
reports contain business
information such as business name and business address, business loans,
business debt and bill payments, federal tax identification number (FIN), and
other information about your business credit and financial life. This
information is gathered by business credit bureaus such as Dun and Bradstreet,
Experian Business, Equifax Business, and Business Credit USA. While business
credit reports are used to generate credit scores, just like personal credit
reports, the scale is different. Businesses have credit scores between 0 and
100, with anything over 75 being a good score. Personal credit scores, on the
other hand, range from 300 to 850.
Personal credit reports
Personal credit reports are gathered by different credit
bureaus and tend to contain different information. Personal credit reports
contain identifying information, employer history, address history, and account
histories. Business credit reports are geared towards business needs and so are
maintained differently. However, business credit reports and personal credit
reports are used for the same purpose. Just as a personal credit report gives
potential lenders a credit history that can determine your creditworthiness, so
business credit reports are used by other businesses when determining business
loans and other business transactions.
Business Credit Reports and Personal Credit Reports- What is the
Connection?
Even though personal and business credit reports are very
different, there may be some overlap between the two types of reports. If you
are a business owner, you may have used personal lines of credit or personal
credit cards to get your business started. If this is the case, the loans you
have taken out on your personal account count towards your personal credit
report, not your business credit report. If you run a small business, too, your
personal capital may be very closely involved with your business finances. In
fact, many small business credit reports closely resemble the personal credit
reports of the company owners.
Credit Repair
Ease help you with better credit reporting service keeping up to date
with your credit report and score. Also, credit monitoring helps you in
preventing identity theft, taking better financial decisions, and customizable
alerts.
Call Us (888) 803-7889 Today to access your credit report, review it and learn
how to improve your credit card score.
[Helpful Information and Resources]
1. Can I do credit repair
myself?
2. Credit score – Possible
ways to improve it
3. Credit Debt Management – How You Can Benefit?
4. 5 Simple Steps to Build
Business Credit
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