Information And Benefits Of A Company Credit Report
A company credit report is a compilation of a company’s credit history. It is created by one or more credit bureaus and has a detailed history of borrowing, payment history, and credit inquiries. Credit reports are reviewed by lenders who decide to extend credit.
Steps in establishing business credit are incorporating your business, obtaining a federal tax identification number, opening a business bank account and establishing a business phone number. Additional steps are opening a business credit file, obtaining business credit cards and establishing a line of credit with suppliers.
The benefits of having a good business credit report are qualifying for loans, receiving better loan terms, investment protection, and getting access to cash for growth.
To conclude, a business credit report is a compilation of a company’s credit history. Talk with a credit report expert and find out more.