Guidelines on How to Order Your Business Credit Report

Ensure your company's report is accurate and free from errors

ex[perian business credit report

Knowing more about your business' customers, prospects and vendors can help you make informed decisions and set terms that optimize your business' profitability while minimizing the risks. This goes without saying that a good business credit report goes many miles in unlocking thousands of dollars worth of financing that can make a company tremendously successful.

However, many small business owners have for a long time ignored checking their business credit reports.

As a business owner, your business credit report is the first crucial step towards successfully running and growing your business. 

With that said, it is crucial to note that your business credit report is to a greater extent, based on your company's Employer Identification Number (EIN) in the sense that whatever credit inquiries made, accounts opened, business loans or other credit actions taken, will definitely find their way into your business credit report. Again, whether your business pays its bills on time, have been sued or filed for bankruptcy, business credit reports plays a crucial role in your business.

That aside, it is vital that as a business owner, you fully understand how to order your business credit report on a semi-regular basis in order to ensure that errors, which could negatively derail your business credit score are not present in the business credit report. Here is how to go about it.

Visit the Correct Website

Even though you can obtain your business credit report from certain banks, the easiest and most appropriate way to get this information is by visiting widely-known credit bureau websites such as Equifax Small Business, Experian Business and Dun & Bradstreet report, among others.

Enter and Verify Your Business Information

At your desired website, enter the name of your company or business by clicking on the 'Small Business' link, where a new link will pop up to allow you to obtain your credit report by linking you to the appropriate web page where you will have to verify you business information. You should be able to enter your business name. Depending on the commonness of your business name, you may be required to add additional information such as your business' geographical location. 

Pay for the Business credit Report

In most cases, personal credit reports can be obtained for free at least once annually. However, a business credit report requires you to make a payment before you can be allowed to access and check them. You will have two options of either paying for a one-time-only business credit report or sign up for yearly reports with the latter being much cheaper. Nevertheless, it is entirely upon you to determine which option works better for you.

In this regard, you should highlight your paying option and click on it. The payment process should be completed by entering your name, credit number and updating other required information. You will then be able to view your business credit report, which will be available online or can be sent to your email address if you specify so.

Review the Business Credit Report

As a business owner, it is not advisable to obtain a business credit report just for the sake of it, but rather to examine it carefully for any sign of misdemeanor or fraudulent activity. It is crucial to get in touch with the right authority and individuals from the credit bureaus as soon as you notice any out of the ordinary activity. In doing this, remember that there is a 'contact us' button at the lower end of the page where you can communicate with responsible authorities. Be advised that it is always healthy to sort any irregularity on the business credit report as early as possible.

Check from another Credit Bureau

While it may be rare to get false information from any particular credit bureau, it is at times okay to check with different business credit bureaus just to ensure that everything is in order.

To this end, remember to have all the copies of your business credit reports dating back to when you started out, so that they can come in handy in the event that you need to show proof, say in a dispute with the credit bureau or with a credit company.