| You know you have personal credit reports and credit | | | | All this information is then compiled and given a credit |
| scores, but were you aware that if you run a business, | | | | risk score by Equifax which can indicate how likely a |
| you also have a business credit report and score? If | | | | company will fall behind over 90 days on their bills or |
| you run a small business, find out why it is important to | | | | result in a charge off over the next year. Wouldn't this |
| access your own reports and those of your | | | | information be useful in deciding on who to do business |
| customers, vendors and suppliers and how that | | | | with? |
| information can affect whether or not you get access | | | | Equifax also provides a business failure score which |
| to an increased credit line or more stringent credit | | | | can predict how likely a big business will fail and have |
| terms for your company. | | | | to file bankruptcy over the next year. |
| Your small business credit report and score can | | | | There are no free business credit reports as their are |
| indicate to a potential customer, vendor or supplier your | | | | with personal credit reports. You can chalk up the cost |
| credit worthiness and can have factor in the what kind | | | | of this information as a cost of doing business which |
| of credit terms you get or if you get any financing at | | | | can save you thousands of dollars by going with a |
| all. They will see how many accounts you have | | | | responsible vendor or supplier or new customer who |
| opened, how many of those accounts are past due, | | | | will not default on their payments. |
| the average amount you owe, and whether you have | | | | Buying small business credit reports and scores can |
| ever been past due on any of your accounts. | | | | help you make smart decisions about who you decide |
| You can also get access to public records such as | | | | to do business with and can prevent you from working |
| bankruptcies, judgments, liens, alternate company | | | | with an unreliable customer, vendor, or supplier who |
| names and other DBAs all on a small business credit | | | | has a lousy payment history and keep your cash flow |
| report. | | | | low. |