The three major credit-reporting bureaus—Dun & Bradstreet, Experian, and Equifax—collect and compile information on businesses' financial standing and payment histories. Before extending credit to a customer or client, you should carefully review these reports.
They can help you make informed decisions about extending credit, help set reasonable credit limits, and mitigate your financial risk.
What Information Is on a Business Credit Report?
When you buy a business credit report, you can get information such as:
- Credit Score: This numerical rating provides a quick assessment of the business's creditworthiness, calculated using proprietary formulas specific to each bureau.
- Company Information: Basic details such as the business's name, address, phone number, legal structure (corporation, LLC, etc.), parent company, and subsidiaries.
- Industry Code: The business's industry classification (SIC or NAICS code) can indicate risk levels, as some industries like restaurants or real estate are considered higher-risk.
- Company Age: Established businesses with longer operational histories are generally viewed as more stable.
- Payment History: A critical section showing the company's track record of making payments on time, late, or delinquent, as well as any concerning trends over time.
- UCC Filings: Any loans secured by collateral must be filed by the state of registry to prevent the same assets from being used for multiple loans. These liens on the company's property or assets are reported as UCC filings on the credit report.
- Legal Issues: Any lawsuits, court judgments, or other legal actions against the business.
- Collections: Details on whether the company has had collections proceedings initiated against it by other parties, which could signal unreliability.
- Bankruptcy: Any bankruptcies within the past three years, which may significantly hinder the business's ability to obtain financing.
Equifax, Experian, and Dun & Bradstreet Business Credit Report Examples
Each of the three credit agencies provides slightly different information in different formats, so you will want to check business credit report examples to see which type is the best fit for your needs. For example, Experian and Equifax business credit reports provide a view of a business’s credit history along with scores and risk summary. Dun & Bradstreet assesses the viability of a company and the likelihood of its financial future.
This chart highlights some of the key differences in the information.
Buy a Business Credit Report
When you want to buy a business credit report, there are some things you need to consider. For example, some companies will make you sign up for a subscription to pull reports. You will want to look for a solution that lets you pull reports without having to commit to any certain length of time or minimums. This gives you more flexibility in how and when you access business credit reports.
You also want to be able to go online and get the business credit report you want instantly without any waiting.
The easiest way to buy a business credit report is with Command Credit. You can pull as many or as few reports as you want with no contract or commitment. A simple-to-use website lets you put in the business name and a few basic details, pay the fee, and get the business credit report right away. With Command Credit, you can also choose an Experian, Equifax, or Dun & Bradstreet report. Get one or all three. This lets you get exactly what you want without having to go to each of the credit reporting bureaus individually.
There are also different types of reports from some of the credit bureaus. For example, the Experian Premier Profile offers greater depth, including balance sheets and income statements for publicly traded companies. The Dun & Bradstreet Comprehensive Report provides viability scores, financial stress scores, and greater detail into organizational status, officers, employees, and facilities.
You can choose from any of the available types to find the one that works best for you. View samples of the on-demand business credit reports you can get through Command Credit to get started.
If you are not sure which type of business credit report is right for you or have other questions, give Command Credit a call at (866) 703-2831 or contact us online.