How to Check Your Business Credit Score

## Understanding Business Credit Scores A business credit score is a numerical representation of your company's creditworthiness, used by lenders, suppliers, and other entities to assess risk. Unlike personal credit scores (300-850), business credit scores typically range from 0 to 100, though some bureaus use different ranges. ## Major Business Credit Reporting Agencies The three primary business credit reporting agencies are: * [Dun & Bradstreet](https://www.dnb.com/en-us/) * [Experian Business](https://www.experian.com/small-business/) * [Equifax Business](https://www.equifax.com/business/) Each agency uses different scoring models: | Bureau | Score Range | Considered "Good" | |--------|-------------|------------------| | Dun & Bradstreet | 1-100 | 80+ | | Experian | 1-100 | 76+ | | Equifax | 101-992 | 700+ | ## Key Factors Influencing Business Credit Scores 1. **Payment History**: Timely payments to creditors and suppliers 2. **Credit Utilization**: The ratio of credit used to total available credit 3. **Company Size and Age**: Older, more established companies often have better scores 4. **Industry Risk**: Some industries are considered riskier than others 5. **Public Records**: Bankruptcies, liens, and judgments 6. **Length of Credit History**: How long you've been using business credit ## How to Check Your Score ### Step 1: Obtain Your D-U-N-S Number Before checking your D&B score, you'll need a D-U-N-S number. This unique nine-digit identifier is free and can be obtained through the [D&B website](https://www.dnb.com/en-us//duns-number.html). ### Step 2: Choose Your Method Several options are available: - Direct from credit bureaus (paid service) - Through credit monitoring services - Via lending partners or credit card companies - Free credit report websites ### Step 3: Review Your Credit Report Look for: - **Accuracy**: Ensure all information is correct - **Discrepancies**: Report any errors to the credit agency - **Negative Items**: Identify areas needing improvement ## Cost Considerations Typical costs include: ``` Single Report: $39-99 Monthly Monitoring: $29-199 Annual Subscriptions: $199-1,200+ ``` ## Best Practices for Monitoring > "Prevention is better than cure" applies to business credit too. Regular monitoring helps catch and address issues before they become serious problems. Implement these monitoring practices: 1. Check scores quarterly at minimum 2. Set up alerts for significant changes 3. Review detailed reports annually 4. Monitor all three major bureaus ## Tips for Improving Your Business Credit Score - **Pay Bills on Time**: Consistently paying bills on time is crucial - **Reduce Debt**: Keep credit utilization below 30% - **Monitor Regularly**: Check reports to catch errors and track progress - **Build Credit History**: Establish credit accounts with suppliers - **Maintain Accurate Information**: Keep business details current - **Work with Reporting Suppliers**: Choose vendors who report payment history ## Benefits of a Good Business Credit Score A strong score can help you: - Secure better lending terms - Negotiate better supplier contracts - Attract potential business partners - Qualify for government contracts - Obtain better insurance rates - Enhance your business reputation ## When to Seek Professional Help Consider working with a credit repair specialist or financial advisor if you: - Find significant errors - Need to improve poor scores - Are preparing for major financing - Have complex credit issues Remember that building and maintaining good business credit is an ongoing process requiring regular monitoring and responsible financial management.

How to Check Your Business Credit Score

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