Small businesses need to have accurate and reliable information on a daily basis, and this not only pertains to their business, but also to their credit information. In today’s challenging economy, it is very important for a business owner to be able to determine the creditworthiness of a business partner, clients and even their own company. Equifax is one of the options.
Equifax has made it easy for small business owners, as well as other businesses searching for information on a business, to get the reports right on the internet so they can make sure they know who they’re doing business with and help lower their risks when they take on new clients or suppliers.
Equifax Small Business divsion offers several different types of credit reporting and credit monitoring for your business, all of which are available for purchase online.
| Equifax Business Report | Price | Description |
|---|---|---|
| Business Monitoring and Alerts | $19.95 / month | Monitor your major business customers and key partners to help protect yourself from losses. |
| Business Credit Report | $49.95 / month | Screen potential clients and suppliers for signs of delinquency. |
| Multi-Pack Business Credit Report | $199.95 / month | 5 reports for the price of 4. Huge savings if you check several companies at a time. |
Single Business Credit Report
Before you sign a contract with a key partner (or supplier) or ship that big customer order, it will be a good idea to first make sure you know who you’re doing business with.
Equifax small business credit report can help you decide if you should allow a new customer to open an account, use credit to make a purchase or borrow money from you.
You may also want to order a credit report from Equifax for your own business, so you can monitor your own business credit score and dispute any errors, if any.
Business Monitoring and Alerts
For $19.95 a month, you can monitor and track your most important business business customers and key partners. This service reviews a company’s credit report and sends out an e-mail alert when there are significant changes in a company’s rating.
The service also helps businesses monitor their own credit scores to better manage their commercial credit standing.
Summary
As a small business owner, there is nothing like piece of mind knowing ahead of time that you are working with a reputable business. It is therefore extremely important that you check the creditworthiness of any business you are thinking of doing business with. This will potentially save your business thousands of dollars in the long run!
And in this tight credit market, knowing what’s in your business credit report and understanding what has been reported about your business by lenders, suppliers and service providers ensures no surprises when you apply for a business loan.
Whether you’re thinking of applying for a loan or screening potential customers and suppliers, Equifax business credit report offers up-to-date and detailed information you need to make an important credit decision. Overall, it’s simple to obtain, easy to use and interpret.
