1. The definition of a business credit score
A business credit score is used to make predictions of how possible customers can pay for their debt. This score ranges from 0 to 100. With this score, the higher your score is, the more possible you will make sure to afford the financing. The three business credit reporting agencies are Dun and Bradstreet, Equifax and Experian.
If you are concerned about finance problems, you will know why your credit score is so important and may be looking for a free credit report.
However, if you are a business manage, it is not sure you know exactly why your business credit score is vital and whether you know where to find free business credit report with the aim at monitoring your score.
It is not a good news that many business managers do not have any idea about their business credit score. However, it is really necessary whether your organization is able to secure a small business loan or a business credit card or other collaboration in finance issues. Therefore, it is a high necessity for you to monitor the business credit score.
2. The reasons why you had better take care of your business credit score
Before taking a deeper look into how you can seek for a free business credit report, at first you should know why you need it.
First and foremost, if you are going to get a business loan from a bank or other companies for operating your company, you must be careful about your credit score which is affected by your credit history.
More precisely, if your company has the credit score proving that you have a good payment history, banks will find it safer to offer loans to you. In spite of the fact that your credit score is not the most necessary factor influencing on your loan eligibility; however, it is one of the major parts for your business loan applications, especially when you are applying to banks.
When it comes to securing a business loan, a good business credit score is very important for customers to receive their wanted payment terms from any suppliers.
3. Get to know more about credit score
As a customer, you will be sure that your personal credit score will range between 350 to 800. Thus, if you receive your business credit report and see that your score is just a little number, you might be shocked and upset, of course.
However, before you would become so surprised at such a low score, you must know that business credit scores are calculated on different scales.
For instance, the business credit reporting agencies such as Dun & Bradstreet, Experian and Equifax figure out the business credit scores with a scale from 0 to 100. Thus, if you receive a credit report with 80 scores, you must be happy.
4. Some places to receive a business credit report without charge
After being clearer about the basic information of a business credit report, you should take a look to find out where you can choose to get a free business credit report.
First and foremost, you can carry out a research for Credit Signal, which is a company offering free business credit reporting service from Dun & Bradstreet. In the past, it was the only one place that customers can receive a free business credit report. Absolutely, this is a wonderful tool to take advantage.
To be more specific, it will allow you to be sure about their business credit scores at any time as well as receive alerts if there are any changes to their score. As soon as you register an account, you will receive an online dashboard or they can make use of a mobile application to take control over what is happening in their business credit report. Otherwise they can choose to get notifications if there are any changes with their score.
Credit Signal is considered to be the most effective and convenient place for you to look for a free business credit report as well as a good location for other business credit resources. They also provide you with online tutorials for business credit so that you can know more about credit information, especially when it comes to your specific major. From this online course, you can also receive suggestions about how to advance your credit score with your profile.
Last but not least, you should stick to your mind that Credit Signal only contacts you when your business credit score or rating has experienced a change or when someone needs to know your credit score.
Another service to see is Nav, which is a credit monitoring service that offers both customers and business owners the approach to their personal credit history.
Apart from Credit Signal, Nav is also considered to be a good place to find a free business credit report in which you do not need to have a credit card to register. Moreover, Nav will provide you with free approach to an overview of your business credit reports from such agencies as Experian and Dun & Bradstreet.
Nav also comes with self – serve methods to assist in setting up your business credit. In addition, taking advantage of Nav means that you will be provided with summaries of both reports from dun & Bradstreet and Experian. On the contrary, Credit Signal only operates with reports from Dun & Bradstreet. There are many different methods to calculate your business credit rating as well as score. Therefore, you need to have enough knowledge about credit score before making decision to choose Nav because it may influence on your business later.
Nevertheless, Nav is so valuable with its free summaries for your business credit report. It is obvious that you need to pay to receive more benefits from Nav. However, if you do not keep track of your business credit history or have bad credit before, Nav is a great option for you.