What is a Business Credit Score?
Strong business credit scores are the key to getting your company approved for trade credit and financing. Your business credit reports tell lenders, vendors, suppliers, and business partners how likely you are to repay them on time.
Personal credit scores rank the creditworthiness for individuals, and business credit scores rank the same for businesses. Credit agencies Dun & Bradstreet, Experian, and Equifax produce business credit scores and reports. The FICO SBSS business credit model also creates a score that lenders use to make faster, more accurate lending decisions.
Two commonly used scores range from 0 to 100. Scores of 80 or more are considered good. These scores are key to getting approved for financing and trade credit, as well as qualifying for lower rates on things like business insurance and certain loan options. Anyone can check your business credit rating, so it’s in your best interest to know what’s contained in your business credit report.
We are working with a national provider to provide you Free access to review your credit. This is considered a soft credit pull, so it will not affect your credit score.