What is a Business Credit Report
A business bureau credit report reviews a company’s credit activities, including outstanding loans, payment histories, and available credits and balances. However, it mostly monitors transactions between two businesses (i.e., when one business grants credit to another), which is known as ‘trade credit.’ Trade credit is the world’s leading source of financial lending.
Unlike personal credit, business credit is provided by four main reporting agencies: Dun & Bradstreet, Equifax Business, Experian Business, and Business Credit USA. Some information on business credit can also be obtained from consumer credit sites such as freecreditreport.com, myfico.com, truecredit.com, credit.com, and creditreport.com.
A business typically starts building credit once it obtains a business name and an employer identification number (EIN) from the Internal Revenue Service (IRS). All credit transactions done under this business name are then reported to the business credit bureaus, usually by the credit issuers themselves.