Your small business credit report is one of the most important tools you have as a small business owner. A strong small business credit report and credit score will make it easier for you to get the loans you need to keep your business strong and growing. For this reason, it is very important that your small business credit report be complete. But what if it is not? What if there are lenders missing from your small business credit report?
Lenders and Your Credit Report
If you have lenders that are not appearing on your credit report, this is a problem you will want to correct right away. The way to build good credit is by showing a history of good credit practices, and you can’t do that if there’s no record of your relationship with prior lenders. You want to make sure every lender that you have done business with, and your record of timely payments to those lenders, are in your credit file.
Correcting Your Credit Report
The first thing you need to do is make sure you have a business credit report. This starts with a D&B D-U-N-S® number, the number used to categorize businesses. If you don’t have one, you can get one and start setting up your business credit profile online. If you have a business credit report already, you should contact the lender to make sure they are reporting the information to Dun & Bradstreet. You should then contact Dun & Bradstreet to make sure they are getting the correct information and adding it to your profile. Once this is complete, make sure the problem doesn’t happen again by signing up for business credit monitoring, which allows you to keep tabs on your business credit report on a monthly basis.