Monitoring your business credit is an important first step towards building a healthy history of payment that can help you in securing partnerships and more.
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 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 CreditSignal 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 timely manner!
With CreditBuilder 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 CreditSignal which does provide subcriptions but only notification 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?
The business credit score calculators use a variety of scoring ranges, so the definition or “good” can be subjective.
D&B provides business credit scores that range 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!
