Your business credit report and business credit score are essential to the financial health of your business. They impact your business in numerous ways, such as the number of credit suppliers that will extend you and the interest rates you'll pay. Checking your Experian business credit report frequently is key to staying on top of your business credit information and being prepared when the time comes to apply for business credit.
You can visit Experian's website to order a copy of your business's credit report. When you request your Experian business credit report, you’ll be able to see what suppliers and lenders will see when they check your credit. You’ll also be able to review your information for accuracy and make any necessary changes.
Your business credit report will include detailed payment history information on individual trade accounts, bank, government and leasing data, and collection filings. It will also show any public record information, such as bankruptcies, liens, and judgments filed, as well as any UCC filing information and a list of inquiries showing who has accessed your report.
In addition to payment and account information, your report will include your business credit score, which has a scale of 1 to 100. The higher the score, the lower the risk your business represents to others. You will also receive a list of the risk factors that are impacting your score the most. Knowing the factors that are affecting your business credit score will help you improve it.
For those who want to ensure they are staying on top of their business report, Experian offers a credit monitoring service called Business Credit Advantage that gives you unlimited access to your business credit information anytime. It also provides alerts to any changes in your report and tips for improving your company's credit standing. Business credit monitoring can also help you prevent business identity theft by monitoring inquiries into your file.
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