Potential suppliers, customers, lenders, and investors all access your credit history. Know what they will see to boost your business.
Understand What information Impacts Credit Decisions
A credit history includes a great deal of information about your company. There will be one section that features basic information about your company, including details about the organizational structure, ownership, and operating locations. Other sections will offer detailed information on the credit experiences of your business, financial information, and information found in public filings related to your company.
Credit scores will also be included in some credit reports. There will be a variety of scores that offer insights into your past payment experience, and some that predict how you will handle payments in the future.
Monitor Your Credit
Dun & Bradstreet provides a service that business owners can use to easily monitor their credit history. CreditMonitor™ allows a business owner to have unlimited access to their D&B scores and ratings, so they can anticipate reactions from current partners and lenders. This service can help business owners determine the likelihood of receiving funding or contracts. Business owners will even see how their company’s payment history compares to other companies in their industry.
An added benefit of this service is that it will also allow new businesses to start off on the right foot, with expedited processing of an application for a D&B D-U-N-S® number and opening of a credit file in five days or less. A D-U-N-S number may be needed when you apply for credit, grants, or even some contracts. With rapid processing, your business could have a credit history within one week.
Knowing what information is included in your credit history can help you assess the best times to submit credit applications, anticipate concerns of existing and potential customers, and prepare informative presentations for potential investors.