Business Credit Reporting 101: How Business Credit Reports Get Created

August 30, 2016 By Marco Carbajo

Business Credit Reporting

Why doesn’t my company have a business credit report?

This is one of the most common questions I get asked on a regular basis so what better way to address it then on today’s blog post.

Now whether you’re a startup or existing business, I’m sure you’ll agree that having a company credit file is the key to maximizing your funding potential. The fact is, with no established business credit reports; banks and other lenders will base a large part of their lending decision on your personal credit.

So let’s go over how business credit reporting works and how the business credit agencies (Dun & Bradstreet, Experian Business, Equifax Small Business, Paynet, etc.) collect and report information on businesses and why there may be nothing reporting on yours. It’s important to remember, these agencies are in the business of collecting data on individual businesses and selling that data in a compiled format known as a business credit report.
Click to continue …

The Growth of Online Small Business Funding

August 9, 2016 By Marco Carbajo

Online Small Business Funding

Just two years ago, in 2014, online lenders earned 7 times more than they did a mere four years earlier. Further, these technologically-based lenders offered their clients over $12 billion in credit. However, this industry is doing more than just growing – it is rapidly changing in ways that seek to make lending easier, faster, more diverse and more affordable for small business owners.

More Data Integration

Data is the cornerstone of online lending, and, arguably, it’s the reason these lenders can offer business loans with greater frequency than traditional banks. However, the amount of data that online lenders can leverage is growing by the day. Using an automated process that is backed by complicated algorithms, lenders look at a range of information related to applicants. This information includes anything and everything, from PayPal deposits to average daily bank balances to reviews on social media sites or comments on Etsy.
Click to continue …

Do You Know the Brexit Impact on Business? D&B’s Effort to Help You

July 12, 2016 By Marco Carbajo

Brexit Impact on Business

With the recent news of Britain’s decision to exit the European Union, many businesses are asking how the Brexit outcome could impact their own business. Dun & Bradstreet, one of the major business credit reporting agencies, understands that business owners like you may have concerns about the financial, regulatory, and tax changes that may occur as a result of this decision, and how it could impact your own business.

In an effort to help identify the Brexit impact on a business that doesn’t currently use one of Dun & Bradstreet’s risk solutions, D&B is providing free access to their business credit reports for a limited time.

From now until July 31, 2016, a business can access D&B® business credit reports, D&B scores and ratings, on companies in the United States, UK and Canada at no charge. By the way, there is no credit card or other financial obligation required to take advantage of this offer.
Click to continue …

The Business Credit Building Junkyard: Why So Many Businesses Fail

June 28, 2016 By Marco Carbajo

Business Credit Building

Why do businesses fail in building business credit the right way?

One of the major reasons why so many struggle establishing credit for the business effectively is because they don’t know what lenders define as a creditworthy business. In today’s post we’re going to put an end to all the confusion by covering five main areas that cause so many businesses to fail in the business credit building arena.

Take a look at these five key areas:

Company payment history
Depth of business credit
Business credit utilization
Business credit limits
Types of business credit

Let’s explore each one.
Click to continue …

Reading Roundup: What’s New in Business Credit Lately?

June 1, 2016 By Marco Carbajo

New in Business Credit

As you know a business credit score is crucial to separating your personal and business financial risk. When lenders can check the creditworthiness of your business rather than rely solely on your personal credit; your ability to maximize your funding potential increases tenfold.

It’s pretty incredible to see how fast things are changing in the business credit industry. Technology and the internet have taken credit risk management, business credit reports/ratings, and funding programs to a whole new level.

So we have been updating our modules and credit database in the business credit building system and it’s exciting to see all the new suppliers and vendors we’ve added that are now reporting to the business credit agencies. This is great news for small business owners like you!

All the recent changes in business credit do make the marketplace difficult to navigate if you’re not using our system, particularly for those small business owners who are stuck in old methods and have lost sight of what’s truly possible with business credit. Of course, I’m not talking about you.
Click to continue …