How Do I Get a Copy of My Business Credit Report?
Business credit reports are provided by credit reporting agencies. These companies gather and sell credit information in the form of credit reports. Credit reports contain a business' credit history that includes the number of credit lines or loans, credit scores, outstanding loan amounts, payment histories, judgments, liens and bankruptcy information. Businesses can obtain their credit reports by purchasing them from a credit reporting agency (CRA). Keeping a positive credit report can help a business qualify for loans and lower interest rates.
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Instructions
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How do I get my business credit report?
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Contact a business credit reporting agency. Examples of business credit reporting agencies include Experian, Dun & Bradstreet, Equifax and Trans Union. (See resources.) These companies offer credit reports to businesses for self-evaluation and to determine lending risks.
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Order your business credit report from the credit reporting agency. Under the Fair and Accurate Credit Transactions Act (FACTA), only consumers are entitled to receive a free credit report every 12 months. Businesses must purchase their own reports.
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Review the credit report carefully. Go over the credit report details, including any credit score furnished. This information is used by other companies to assess your financial and lending risk. If you find information that is incomplete or inaccurate, you can contact the credit reporting agency and the information provider (creditor) and request that they make corrections. You can also ask the credit reporting agency to add information that may be missing from your credit report (e.g., loans and paid debts).
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Tips & Warnings
If negative information exists in your business credit report that is accurate, it can take seven years or longer for it to be removed.
References
Resources
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