To get credit information on small businesses in the United States, distribution channels may have changed since our report in the November 1979 issue of The Business Owner, but Dunn & Bradstreet (“D&B”) is still the undisputed leader.
Today D&B has increased their credit reporting to more than 100 million U. S. companies, most of which have fewer than 10 employees. Simply go to www.smallbusiness.dnb.com or call Dun & Bradstreet toll-free at 1-800-234-3867. Its basic Credit eValuator Report is $39.99, or $25.49 per report with a monthly subscription to Credit Basics of $22 per month.
But don’t rely entirely on the data in a credit report. D&B allows self-reporting of data, so information can be incomplete and, at times, inaccurate.
Checking an individual’s ability to pay
There are three major reporting credit repositories: Equifax (www.equifax.com), Experian (www.experian.com) and Trans Union (www.transunion.com). All three offer easy access on the Internet or using desktop software. The enrollment process is similar for each. You’ll be asked to fill out an application and pay a small fee. You’ll enjoy access to a nationwide credit-reporting database containing “Revolving,” “Open” and “Installment” credit items, paid and unpaid amounts, public records, tax liens, bankruptcies and judgments. Reports can be delivered almost immediately on request, and right now Experian is offering a free 30-day trial of its Triple Advantage program, which normally costs $14.95 per month.
The federal government also offers one free credit file disclosure each year to check your own credit from the three bureaus listed above. Go to www.annualcreditreport.com to find your credit score.
To learn more about the information provided on a credit report, or about “scoring” products that can help determine a creditor’s ability to pay, visit the websites listed above or try calling Experian’s Credit Services at 1-888-243-6951.
This article originally appeared in The Business Owner Journal, the periodical of choice for owners of small and midsize private businesses. All rights reserved, D.L. Perkins LLC. © 2012.
This publication is intended to provide general information on the subject matters covered. It is sold and distributed with the understanding that neither the publisher nor any distributor or advertiser is engaged in providing legal, tax, insurance, investment or other professional advice. The advice of a qualified professional should be sought before any reader applies a concept presented herein to his or her particular situation or business.
D.L. Perkins, LLC is solely responsible for this content.
