Business Credit Reports

Examples of credit reporting agencies that perform business credit reports:

·        Dunn & Bradstreet

·        Experian

·        Accurint

·        CreditNet

·        EquiFax

·        The Better Business Bureau

 

Users say that D&B and Experian are both horrible and unreliable which contradicts their success.  D&B continues to run as a Fortune 500 company and is recognized as the leading supplier of business credit.  Like most large organizations, there are always some issues, but a company does not maintain its lead poll position by being “horrible and unreliable.”  While I have no stake in D&B, Fortune Magazine has them rated as the #8 most admired Financial Data Company.

The reasons for being denied credit in this environment presently have more to do with the bank and credit lending policies than with the actual customer.  It’s all about the institution’s tolerance for risk.  In a non-profit with a limited track record of financial performance, the risk rating would be high.  Many small businesses are having similar issues finding credit and loans for expansion and other purposes.  There may be other avenues of investment that specifically fund non-profit Companies.  A good article explaining this further can be found here:  http://www.ssireview.org/articles/entry/ten_nonprofit_funding_models/.

UCC (Uniform Commercial Code) Filing is also a good tool to see what a company owes and to whom.  The Better Business Bureau is a great place to check company self-reported information and to see if the company has a history of complaints filed against them.

Bottom line is:  The problem is that business reporting agencies (D&B & Experian, Equifax and others) rely on the company itself to report the facts about their own company, many of which embellish the company stats to inflate their attractiveness (naturally) to future clients, or lending institutions.  There are only a few credit reporting companies that develop these reports from “interested” third parties.  The main contributor to all these reporting agencies is the company itself, plus, UCC filings, tax liens etc.  Normally, if there are any POSITIVE credit experiences by creditors, they are unreported – making a true “snapshot” of a business’ credit reputation unavailable.

 

FREE site for verifying business information in all states.

www.lions-associates.com/Business-Verification.html

Author: FreePhone

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