How to check Business Credit Score?

  • Posted on: 21 Dec 2022

  • Monitoring your business credit score is an important first step towards building a healthy history of payment that can help you in securing partnerships and more. Before this all we need to know is How to check Business Credit Score.

    Every company has access to your business credit reports. This means that when you're looking for investors or partners, they'll be able see how well-managed the finances are in case of any potential deals going forward!

    When it comes to your business credit history, the more positive notes you add will not only help with relationships and financing but can also affect how much interest rates are for monthly insurance premiums.

    You can keep your business credit in top shape by staying on top of what's going around it.

    There are three major bureaus that provide credit reports for this, so you'll want to check them out!

    Dun & Bradstreet

    D&B is the leading provider of business intelligence in North America. With over 80% market share, they generate both reports and scores for businesses that have credit files with them - but you’ll need to put some work into creating this file or it could appear incomplete!

    Check your D-U-N-S Number

    To build a complete credit file through D&B, you need the nine-digit identifying number for your business. This may have already been created by them in 30 days but if not then they will create one free with expedited shipping and handling on their site or when setting up an account using Credit Builder Plus at $149 per month - just contact us today!

    Free options

    The Credit Signal account is a free way to stay on top of your business credit. You won't have unlimited access, but you will receive alerts for changes and more information about how they affect things like rates or collections efforts in a timely manner!

    With Credit Builder Plus, you can have unlimited access to D&B's business credit scores and ratings including Paydex. Or if that’s not good enough for your needs then try out Credit Signal which does provide subscriptions but only notifications when changes in one’s score occur!

    To get your Paydex score for free, you can sign up with Nav and they will provide access to monitoring services that help focus on business credit.

    What is a good business credit score?

    Business credit score calculators use a variety of scoring ranges, so the definition or "good" can be subjective.

    D&B provides business credit scores ranging from 1 to 100, with higher numbers reflecting better risk profiles. A score of 80 or above means your company represents the best possible investment and will likely never need another loan!

    Equifax has multiple credit scores for business owners, each one representing an element of risk. In at least one calculator with these calculators, a lower score actually means better performance when it comes to payments!

    Factors that determine business credit scores

    There are a number of factors that may be considered when checking business credit scores. Each scoring model is different, though so some or all these criteria might not carry much weight in determining your final ranking based on the severity and TYPE (i.e., personal loan vs small company lease).

    • Payment history
    • Age of credit history
    • Debt and debt usage
    • Industry risk
    • Company size

    payment history is the most important factor when it comes to business credit scores. Does your company pay its bills on time? Some lenders make their decisions based solely on this one number!

    Equifax Business

    If you're trying to secure business financing, it's best not just rely on one report. That way there are no surprises when applying for loans or lines of credit with lenders who require information like this! With the Equifax Business Credit Reports package available from Bullseye Finance Group - which includes five different types o reports at an affordable price-gouging rate per individual service-, things will be much easier going forward because users get their Risk Score and Failure Scores included in every order alongside key Performance Indicators (KPIs).

    Experian Business

    The credit reports from Experian are a great way to get an idea of your business's financial standing. You can either pay $39.95 for one report and scores or subscribe in order to receive ongoing monitoring updates with the latter option being less expensive at only 179 dollars per year!

    what is the range for business credit scores?

    The range for business credit scores is typically from 300-850, and the higher the score, the lower the risk. Businesses with good credit scores can usually obtain lower interest rates on loans and lines of credit, while those with low scores may face higher rates or be denied financing altogether.

    How to check my business credit score for free?

    If you're a business owner, it's important to know your business credit score. A good credit score can help you secure loans and lines of credit when you need them, while a poor credit score could mean you won't be approved for anything. Luckily, checking your business credit score is easy - and it's free!

    Bottom line

    When it comes to managing your business, you may not be so preoccupied with monitoring the ups and downs of personal credit. But if something does go wrong — or even just needs an extra boost in order for things like financing options to become available again—you'll want a better understanding of how these scores work beforehand so that all potential doors remain open!

    When it comes to building up a strong profile, monitoring your personal credit reports for information about the business that you are interested in working with can be an excellent way. The earlier these types of profiles go live the better their position when things get tough and they need help from those who have been watching over them since day one!

    Call (888) 803-7889 & know How to check your Business Credit Score now!