how to check a company's credit rating

You've felt it before. Even if you've managed to avoid it,
you know someone else who hasn't been so lucky.


What are we talking about? The anxiety experienced when you make a credit decision, only to find out too late that the report you had didn’t cover the last year of stomach-churning drops in the company’s credit rating — that sudden, looming realization that you might never get the money for that sale.

Ansonia's expertise is to make sure you never feel this again.

Your business needs accurate, flexible business credit reports. You need them FAST and up-to-date... and you want them to be highly affordable. We are the NEW credit reporting service that is bending over backward to give our clients exactly what they need.

See the difference.
Try our free credit report today.




Why Our Data is Better

Our Data
is Unique

We collect data from all types of businesses — from Mom & Pop all the way to Fortune 500. Our state-of-the-art platform enables us to accept data files that other business credit companies cannot.

Our unique database translates to more relevant information, which translates into you making better credit decisions and making more money. Many businesses find that Ansonia’s core business credit report is the only credit risk decision tool they need.

Our Data
is Fresh

What would happen if you gave a customer a large amount of credit, only to find out too late that the report you had didn’t cover the latest stomach-churning drops in the company’s credit history? You may have a sudden, looming realization that you might never get the money for that sale.

Ansonia to the rescue! Unlike many other credit reporting companies, we continuously update our database 24/7, ensuring the freshest data possible. And with a click of a button, you can get the latest judgements and public records. This is our expertise — to lessen your anxiety over future credit decisions.

We Do Not Buy
Our Trade Data

There are some business credit reporting companies that buy, repackage and resell other credit reporting companies' data. We collect our own up-to-date and reliable data and don't sell it to other companies. Nor do we buy data reports from other companies. Our database is unique and secure.


We Do NOT Own or Partner With A Collection Company

Some credit companies partner with collection agencies and may have conflicting business dealings. We are strictly in the business of providing credit data intelligence to businesses.

It's the only thing we do and we do it well. You can depend on us to ALWAYS give you accurate information that will benefit your business.



Up-to-Date and Accurate

We are very pleased with the quality and reliability of Ansonia’s credit information. The information is always up-to-date and accurate, and obtaining credit reports is a very simple and fast process. Furthermore, the level of personal support and service we receive from Ansonia is top-notch. We are extremely fortunate to consider Ansonia as a trusted and valued partner in the transportation industry — they definitely help make our job easier!”

—Eric Belk, Vice President
Match Factors

Members who provide data receive up to a 40% discount on their business credit reports.





No Finance Degree Needed

Have you noticed that reports from the other business credit report companies are extremely hard to read? You need to learn about a customer's credit worthiness fast. But you're stuck wasting time trying to figure out a report that is full of numbers, but doesn't tell you much.

It's difficult to tell a good customer from a bad one. There may be a note the customer was 90 days delinquent on a payment, but you are not told if that was years ago with just a single slow payment, or if the customer is delinquent all the time. And hey, if you can't find out what you want to know NOW, the report is worthless. You might as well flip a coin.

This hurts your business. You may take a chance on a customer who winds up burning your company. On the other hand, you might pass on somebody that would be a great customer — and you lose the sale.

Ansonia saw this problem and fixed it. Our reports are extremely easy to read. We go the extra mile to make sure ALL the numbers make sense. And we are sticklers for assuring you have the exact stats you need when you need them.


No Pre-Paid Contract Required

Annual contracts are devised to lock people in long term. Other business credit reporting companies encourage you to give everyone in your company access to their information — the more employees running reports, the better.

And when contract renewal time comes, they pull out a 10 pound stack of all the invoices you pulled to support why you can’t live without them. Oh, and buy the way, your price goes up.

Often they will offer a business a three-year contract with price escalations. So they lock you in, guarantee themselves a nice revenue increase each year, all while selling the exact same report.

Why should you agree to pay 3-5 percent more over a period of 3 years for the exact same report? If it’s the same report, why should you have to pay more from year to year? Are the reports giving you more value? We offer you a better solution.

With Ansonia, you only pay for what you use. No long term contracts. No escalating fees over time. And to top it off, members who provide data receive a discount of up to 40% on their business credit reports. You get the accurate, easy-to-access credit reports you need at a dramatic savings.

Additionally, members who provide data receive up to a 40% discount on their business credit reports.






Customizable Reports Lead to Better, Faster Credit Decisions



 

Watch the video below to see how your report would work.
how to check a company's credit rating

You Can't Go Wrong with Ansonia

When Transwest Capital first started out we were using another credit data company to verify the credit-worthiness of our debtors. While we were not unhappy with the company, we did not know what we were missing until we signed up with Ansonia Credit Data. After switching to Ansonia, we started to realize that the information we were previously using was not as fresh as advertised. With Ansonia, we know we are receiving the most up-to-date and in-depth look at a debtor’s credit-worthiness. In a word, we had become complacent with the previous company, trusting that their data would help us protect our receivables. It did, to a point. Now, we feel as if we have a partner watching our backs 24/7. Coupled with the customer service the staff at Ansonia provides, you can’t go wrong with Ansonia Credit Data.”

—Brian Cummings, Operations Manager
Transwest Capital



We Can Integrate With Your Software

We welcome special programming requests. Have you ever tried to get a customized project with one of our competitors? One of our current clients signed a contract with our competitor to provide a customer-facing online credit application.

Our client worked with that company for over an entire year, and failed to receive a working product. We took this project on from scratch, and had the entire process ready to go in just two months.

Businesses run lean shops. Employees are generally expected to do more and more in a finite number of hours per day. Automation/integration is the key.

With our 21-st century, state-of-the-art technology, we easily integrate with any software. We can “push” data intelligence to our customers to help them streamline their processes. These kinds of tools mean you don’t have to pay someone to sit at a desk and look at credit app after credit app and run one report at a time.



company credit information report

Live People Answer Our Phones

This really shouldn’t merit a mention. After all, it’s common sense that a company would take calls from their clients so they could help them and provide great customer service. Right? Wrong.

Most calls to our competitors seem to be sucked into a pit where voicemails go to die, leaving you stranded and without help. Fortunately, that’s not how we operate.

It’s a point of pride for us to pick up the phone when you call and to give you as much help as you want. So if you don’t want to feel like you’re alone in the dark, give us a call now at 1-855-267-6642 to let us shine some light on your situation.


how to check a company's credit rating

Ansonia Clearly has the
Advanced, Customer-Oriented
Business Credit Reports You Need

By combining top-notch, highly reliable credit reports with caring customer service and BIG savings — Ansonia is rapidly becoming the first choice for businesses of all sizes.




See the difference.
Try our free credit
report today.

•  Verify a new customer
•  Check an existing customer
•  See the difference
company credit information report

Or Call Us Today at:
1-855-267-6642



Grab This Powerful Arsenal Of Business Credit Reporting Tools That Only Ansonia Can Give You:


Become one of the new savvy business owners who use Ansonia and profit from the following:

•  Ansonia Sells Only Business Data – we only concentrate on business credit reports.

•  Ansonia’s Business Data is Always Fresh, not Stale – We update 24/7.

•  Ansonia Does Not Resell Your Data – Your customer data is safe with us.

•  Ansonia Works With Everybody – From small businesses to Fortune 500 companies.

•  Ansonia Collects Unique Data – We collect data the big guys can’t even touch.

•  Ansonia’s Reports Are Easy To Read – You’ll know exactly how your customer pays.

•  Ansonia’s Reports Are Customized – You decide on what data is important to you.

•  No Prepaid Contract Required – You are not tied down, wasting money.

•  We Keep It Simple – Anybody can read our reports and understand them.

•  Live People Answer Our Phones – The others don’t, nor do they care to.

•  We Do Not Own Or Partner With A Collection Company – We provide unbiased data.

•  Customizable Software Integration – We integrate with any software you run.

•  Automation Is The Key – Request as few or as many reports as you want.


We're here to get you started.
Call us now for your no-cost, no-obligation discussion.


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Company Credit Information Report Articles

 

5 Tips for Improved Accounts Receivable Analysis

Here are 5 tips to improve your process today.

1) Stay on Top of Things

Stay vigilant and keep on in front of your accounts.

Accounts receivable analysis is something that should be done on a constant basis taking into consideration that the tides can turn quickly with a debtor that might be over-extended or affected by seasonality or industry.

Protect the bottom line of your company bottom line with automated credit monitoring tools and set up alerts to notify you of significant changes in a debtor account and behavior.

By regularly monitoring significant events like bankruptcy, fraud, judgments, or slow payments; you can start solving problems proactively before things get out of control.

2) Screen your Business Accounts

Obtain up-to-date business credit reports on your debtors before extending credit or authorizing additional transactions.This will help minimize or prevent collection and legal issues before they even start. Screening potential clients will help identify high credit risk accounts before you can get burned. Yeah, easier said than done, right? Obtaining updated reports on all of your debtors could give you hundreds of extra reports to read every week, further bogging down the credit approval and review system.

The answer is to have the credit information of your debtors and trending updates provided by a push technology through a vetted accounts receivable management software.

3) Know your Limits

No one on the outside will understand your business as well as you do. Define your own limits for allowable account size and days to pay.While there are of course industry standards, these might not pertain to your business. Depending on your industry you may require shorter terms therefore increasing your cash-flow, or your customers may require extended terms for which you have made concessions.

Define special criteria to make the most of loyal customers and prevent bad credit risks from going too far. If using automated monitoring, make sure you can set custom filters to set custom filters to match your threshold.

4) Share the Responsibility

It is easier said than done, but delegate different analysis tasks to different employees.

Analyze your accounts for your important notification events, and have more than one person on the receiving end of the reports. Not only will this save you time in accounts receivable analysis, but it will provide an extra few sets of eyes to catch any potential problems. Additionally, this is a great way to spread responsibility for vacation and sick days, making sure your assets are always monitored.

Remember, sharing is caring.

5) Use a Customizable Report

Utilizing an accounts receivable management report can provide you with the analytics and overview you need for a quick and effective review of your risk saving both time and money in identifying potential issues.

This reporting should show not only your trending experiences, but also compare to the industry and creditors experiences.

When looking for ways to improve your accounts receivable analysis, remember these tips to keep your cash flowing. Automatically monitor credit events to identify potential problems before they can get exponentially bigger. Screen your debtors to identify potential problems with an aggregate system to identify poor credit risks before business begins. Set custom account limits that work for your business needs, not arbitrary guidelines based out of text book. Add an extra set of eyes to the reporting process by sending notifications to different department personnel. Lastly, use an accounts receivable management software to improve timely identification of debtor trends and flags.

 


You Can Find More Information at www.ansoniacreditdata.com/

Call Us Today at: 1-855-267-6642

Receivable Portfolio Management Analysis

 

The only way to successfully manage any process is by controlling and measuring that process. When it comes to managing the credit process, the credit executive of today must analyze the entire receivables portfolio, which is well beyond traditional customer analysis. This stands true for both the management of the accounts receivable portfolio as well as the production of any goods or services.

 

Today we still see many firms focusing solely on the number of customers they serve, and while this is certainly an important aspect of operations planning, they are not giving enough attention to the risk and profitability associated with each group of their customers.

 

Measuring the Most Important Asset of a Company

 

We can measure the performance of the most important asset (its customers) of a company along several dimensions by simply applying the concept of Portfolio Analysis to the accounts receivable of a company.

 

We know that photographers and such will often prepare a portfolio of their work to show to prospective employers or purchasers. This term, portfolio, can also be used to describe loans advanced by a bank or the collection of financial instruments held by an investor. When referring to financial services, the challenge with Receivables Portfolio Analysis is to categorize the mix of investments appropriate to the resources of the company, needs, and risk preference. The contents of this portfolio should alter over time, in direct response to changes in customer preferences or the performance of individual portfolio elements.

 

Using Accounts Receivable Portfolio Analysis to Understand the Risk Exposure of a Company

 

At any point in time a credit professional will be able to understand the exposure to risk of the company by using Receivable Portfolio Analysis in order to analyze the accounts receivable. This analysis helps determine what types of customers the company should be seeking to serve, and which business segments are the best fit for both the capabilities and the mission of the organization. When determining which markets the company should serve, this service provides invaluable information that can be used for that organization.

 

Receivable Portfolio Analysis is simply a great planning system: it provides information that can be used when making strategic business decisions, helping to both minimize bad debt and maximize long-term earnings growth. Besides encouraging the management of the firm to appraise their business along many dimensions on an aggregate basis, while management is planning for growth, it specifically raises the issue of cash flow implications. Portfolio Analysis offers management the proper tools for evaluating each business segment in the context of both its unique contribution to the goals of the company as a whole, and its environment.

 

Evaluating the Potential Value of Your Customers to Your Business

 

Receivable Portfolio Analysis addresses the very important issue of the potential value of a particular customer to a company. There are two variables to this value: the first variable is the potential for generating attractive earnings levels right now, and the second variable is the potential for growth in the future; meaning significantly increased earnings levels.

 

The management of any organization needs to understand their current set of customers, and how promising they are with respect to long-term return - in addition to understanding which customers should be developed and which should be liquidated. Using the approach of Portfolio Analysis, management can simultaneously compare different customers, thus leading to a targeted marketing focus. The importance of risk management and cash flow as strategic variables are also underlined.

 

Receivable Portfolio Level Decisions Means Looking at the WHOLE Picture

 

One of the primary responsibilities of a credit executive is to control the credit risk of an accounts receivable asset. The process of risk management is to judge individual firms and assess both the opportunity and the risk associated with those firms: it also includes the establishment of credit lines and terms, and carefully monitoring customer relationships for the mutual benefit of both the organization and the customer.

 

Determining the risk preference of a firm means working out how much risk it is prepared to take when granting credit to its customers. Classifying customers on a multilevel scale offers a comprehensive approach to risk management: excellent customers are placed at one end of the spectrum, with marginal customers at the other end. The marginal customers of a firm would be placed under review more frequently than customers considered to be excellent or good accounts; which means that more emphasis would be placed on those accounts that require attention. These one-at-a-time evaluations are known as transaction-level decisions.

 

The credit manager is also responsible for establishing the collections and credit policies of the firm: these will be general courses of action developed for recurring situations. Their aim will be to achieve established objectives within the credit function, with these rules being applied across a broad group of customers. Establishing and defining effective collection and credit policies are considered to be portfolio-level decisions; decisions that involve taking a step back to look at the whole situation, not just the daily examination of individual customers.

 

The Disadvantages of Not Having an Established Credit PolicyWhen a firm has no established credit policy it means that each and every credit decision stands alone and that each person within the firm who is responsible for credit decision-making will be operating in isolation. With no established protocol, there is no way of learning from the collective experience of a group or the acquired judgment of the most experienced members of the credit team . Alternatively, a well implemented and consistent policy ensures that the same errors are not repeated over and over again and that valuable resources are not wasted on decisions that could well be quickly made on the basis of documented experience.

 

Having a well thought-out policy allows a firm to systematize and apply its principles. And, over time, refining the credit policy allows for the firm to adapt to changing markets and conditions. The collection policies of the firm also need to evolve, and these will be based on the changes in the composition of active customers and their payment performance. All successful credit professionals understand that both these decisions are made in tandem and that over time they reinforce each other

 

The Duties of a Credit ManagerFor a Credit Manager to be effective at managing the risk and opportunity of the customer base of a firm , it is very important that both are done well. One could compare these tasks to those of the General Manager of a business who is required to make both strategic and tactical decisions - both of these decisions are equally important and, in order to be reductive, they must work together. However, the focus of many credit professionals is heavily weighted towards the day-to-day transaction-level decisions, leaving the development of important skills and resources required to improve portfolio decisions to an unsatisfactorily low priority.

 


You Can Find More Information at www.ansoniacreditdata.com/

Call Us Today at: 1-855-267-6642



 

Sales vs Credit: How to Get Along

Every company organizes itself into departments which can handle critical operational aspects of the business. In general, they should all be pulling together to help meet goals of the the company. Sometimes however, the individual responsibilities of two departments seem completely at odds: take the case of the sales department and credit or accounts receivable management.Both departments are concerned with the business relationship between the company and its clients. The sales team is interested in establishing relationships, and accounts receivable sees to the profitable resolution of those relationships. But while a sales team is rooted in enthusiasm and a the more, the better approach to client/customer acquisition, accounts receivable management has to assess the risk of each new credit line, because a credit line that goes delinquent can be worse than having no customer at all.Credit and sales are both essential to the running of a business. So how do you reconcile them?

Decide Your Risk Tolerance

If you extend a line of credit to everyone, your company will bleed dry. If you never open a line of credit, you will never grow your stream of revenue.

There is a saying in the computer security sector: the most secure computer is one that is kept in a locked closet, never connected to the internet and has no keyboard or monitor. Of course, the computer is pretty much useless for any practical purpose.That is an overly simplified way of illustrating that too much security hampers you just as much as too little can damage you.

Understand the risk tolerance of your company and develop a credit strategy to match it.

At the same time, studies have found that managers consistently undervalue their credit and accounts receivable management. Remember that without an empowered and effective accounts receivable, assets never turn into revenue and that is no way to run a business.

Front-Load Credit Information in the Sales Process

There are plenty of fish in the sea, and when it comes to credit, knowing which fish to angle for can be a big help to sales departments. Accounts receivable management often has its finger on the pulse of the business credit world, and can provide sales teams with initial creditworthiness assessments to help them target the most desirable customers.

If the sales department handles any aspects of the credit application process which is likely the sales team and credit managers need to coordinate to make sure the onboarding process fully collects the right information, does not waste time collecting needless information, and is as streamlined and as painless as possible. Credit managers often do not understand the pressures of a sales environment, while salespeople do not always appreciate all the details of a credit application. Have representatives from the two groups meet together to design documents that serve both groups well.

Keep Your Options Open

Not every high-risk credit line should be written off, and sales departments should be aware of options to offer prospective clients whose business credit reports might not come back golden. Letters of credit and credit insurance are two options to consider when you want to establish a business relationship but do not feel great about the level of risk.

When a company has been vetted by proactive credit manager, a sales team can go into their meetings with options ready and available. This can help them approach a prospective client with more assurance and enthusiasm, and can help close a deal where other companies might balk. If all goes well, it could lead to a long and profitable business relationship. If it goes south, your company still has a way to recoup the losses a delinquent account would have incurred.

Incentivize Cooperation

Even though your sales team is pushing the boundaries of your risk tolerance and your accounts receivable management is holding them in check, try to look at both departments as part of a larger revenue pipeline. If you can design your company culture to be aware of that interconnectedness, both teams can function better together.

Consider driving the message home at both culture and compensation levels. Having the two teams share a floor or share performance bonuses can increase communication, and let the people on the ground call out any areas for improvement. Instead of seeing each other as an impediment to effective business, emphasize that each group should be a resource for the other.

Balancing the Risk/Reward thought process and cooperation between sales and credit can be a challenge and with the right guidance, communication and implementing these suggestions it can take your business to the next level. Encourage a united front with focus on the end goal.

 


You Can Find More Information at www.ansoniacreditdata.com/

Call Us Today at: 1-855-267-6642

 

A Sample of business credit reports
for companies found in Ansonia's database

 

Company Name:  KEITH CONSTRUCTION INC

Street Address: 1 BUSCH PL

City: CANTON

State/Province/Other: Massachusetts

Zip: 2021

Country: United State, U.S.

Phone: 615-440-4000

Rating: Available!

Historic 25 months

Average Days To Pay: Available!

Average Outstanding Balance: Available

Total Companies Reporting Payments History: Available!


Would you like to know how KEITH CONSTRUCTION INC pays their bills?

Call Us Today to Get Your Complete Business Credit Report
For KEITH CONSTRUCTION INC at: 1-855-267-6642

 

 

Company Name:  SHANAHANS ALBERTA LTD

Street Address: 2880 45 AVE SE SUITE 144

City: CALGARY

State/Province/Other: Alberta

Zip: T2B 3M1

Country: Canada

Phone: 951-538-0014

Rating: Available!

Historic 25 months

Average Days To Pay: Available!

Average Outstanding Balance: Available

Total Companies Reporting Payments History: Available!


Would you like to know how SHANAHANS ALBERTA LTD pays their bills?

Call Us Today to Get Your Complete Business Credit Report
For SHANAHANS ALBERTA LTD at: 1-855-267-6642

 

Company Name:  HOBOKEN DIVE CENTER

Street Address: 300 PARK AVE

City: HOBOKEN

State/Province/Other: New Jersey

Zip: 7030

Country: United State, U.S.

Phone: 908-688-0888

Rating: Available!

Historic 25 months

Average Days To Pay: Available!

Average Outstanding Balance: Available

Total Companies Reporting Payments History: Available!


Would you like to know how HOBOKEN DIVE CENTER pays their bills?

Call Us Today to Get Your Complete Business Credit Report
For HOBOKEN DIVE CENTER at: 1-855-267-6642

 

Company Name:  STEVEN ROBERTS ORIGINAL DESSERTS

Street Address: 5183 E STATE ROAD 114 92

City: AURORA

State/Province/Other: Colorado

Zip: 48326

Country: United State, U.S.

Phone: 925-254-5894

Rating: Available!

Historic 25 months

Average Days To Pay: Available!

Average Outstanding Balance: Available

Total Companies Reporting Payments History: Available!

 


Would you like to know how STEVEN ROBERTS ORIGINAL DESSERTS pays their bills?

Call Us Today to Get Your Complete Business Credit Report
For STEVEN ROBERTS ORIGINAL DESSERTS at: 1-855-267-6642



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Company Credit Information Report
 

Where to get company credit information report
 
Company Credit Information Report
2108 Caton Way SW
Washington
USA
1-855-267-6642

 

Customized business credit reports for companies with unique information that other business credit reporting companies do not have.

Ansonia Credit Data and Businesscreditreporting.org

 

 

 

How To Check Company Credit Rating For Free

Business Credit Score: What It Means to Your Business

 

Every business has both a Business Credit Score and a Business Credit Report. A good (high) business credit score is key to having your company approved for financing and trade credit. Your Business Credit Score ranks the creditworthiness of your business, just the same as your personal score acts as a financial rating.

 

How Are Business Credit Scores Determined?

 

Business credit scores are determined by reporting agencies, such as Ansonia Credit Data, with several factors going into the calculation of these figures. Various traits about your company and its financial history determine how credit scores are calculated for your business. Please see below for some factors that may determine your business credit score.

 

Outstanding Debts
Payment History
Credit Utilization Ratio
Public Records, which may include bankruptcies, liens, and judgements
Length of Credit History
Company Size
Industry Risk

 

Some of the above factors are unique to Business Credit Scores while many are similar to the ones used for calculating your personal credit score.

 

How Are Business Credit Scores Used?

 

Before a lender or other creditor can approve your business for finance they need to determine how capable your business is of repaying its debts, and this is where your business credit score comes in. If your business has a high Credit Score it indicates to creditors that your business is trustworthy; that it is not a high risk for finance. Lenders will use the business credit report of your company to obtain detailed information about the financial history of your business; with your Business Credit Score serving as a quick-check evaluation.

 

In addition, a high business credit score may give you access to more credit than you would be able to receive if applying for finance with only your personal credit score.

 

It is Important to Check Your Business Credit Score

 

All business owners should review the financial information of their company on a regular basis, and this includes their business credit score. These scores are fluid and can change with time. It is for this reason that creditors will assess your creditworthiness on a regular basis. If you should notice that your business credit score is low, there could well be an error in the credit reports which resulted in an inaccurate calculation. It might also be that your business does not warrant a higher score because it does not have sufficient credit history.

 

However, if you believe there is an error in your Business Credit Score it is imperative that you contact the credit agency that generated the score in order to have this score checked, and corrected if necessary. If no error has occurred, it is still possible to increase your business credit score over a period of time by making payments on time and lowering the credit utilization ratio for your company .

 

Regardless of whether you are just starting out in business or you have been in the game for many years, an essential aspect of staying competitive in business is to build a strong credit profile.

 

Improving Your Business Credit Score

 

It can be confusing trying to determine how and when business credit scores are used; however, it is actually very simple to keep your score high. Basically, it is the same as taking care of your personal credit.

 

Make sure your business bills are paid either on time or before their due date;
Maintain your credit utilization at around 25%. It is important that you do not max out your credit lines; and
Open multiple credit accounts; such as trade lines, business credit cards, and loans.

 

About Business Credit Reports

 

You are probably aware that you can check your financial history by viewing your personal credit report. Well, the same information can be reviewed for your business, and that is because credit bureaus scour public records and other financial data in order to develop a credit report on your company the moment you start a business. So, when you receive trade credit (also known as a business loan or line of credit), information about your payment history is compiled and turned into a business credit score by a company such as Ansonia Credit Data. Ansonia Credit Data is a premier business credit reporting provider.

 

One of the most important aspects of being a small business owner is to take the appropriate steps to build your business credit profile. Doing this will assist in creating strong business relationships and open up financial opportunities that will make running and growing your business so much easier.

 

 

 

 

How To Check Small Business Credit

"

Checking a Credit Report for a Company

 

It is via a Business Credit Report that a person or company is able to evaluate the credit worthiness of potential suppliers, a competitor, or even its customers. A business will often run a Business Credit Report on itself to determine how its financial stability is being presented to the larger business community. We strongly advise that any business entering into a relationship with a new company should run a Business Credit Report, because this which will assist in determining the degree of risk involved in the proposed business relationship.

 

Reading a Business Credit Report

 

It is highly recommended that a company run a business credit report if it is considering evaluating the reliability of potential suppliers, granting credit to new customers, or even analyzing the credit standing of their own company . Typically, a business credit report will provide a snapshot of the credit history of a company, including how reliable it is in paying its bills and managing other financial obligations. Running a business credit report on a company can help you reduce risk by identifying potential warning signs of credit problems of your customers . It will also help you determine whether your own company is a positive credit prospect for its suppliers.

 

A business credit report will ideally include a review of the following aspects of a business.

 

Credit Risk Rating

 

The majority of business credit reports include a rating system which has been designed to assist in gauging the potential risk of either late or delinquent payments. These ratings are determined through an analysis of different credit factors, like legal filings and past payments performance; plus, they are ideal for when you are required to make a quick credit decision. Any high risk rating should be taken very seriously.

 

Payment History

 

It is important that you analyze past payments to determine how efficient a company is in managing its accounts. Look for trends as well as timely payments. As an example: you may notice that a prospect previously made minimum credit card payments; however, they are now paying the balance in full each month. This could well indicate that the company has become a better credit risk, meaning that they have developed a stable revenue stream. In addition, you should check to see how the payment history of a specific business compares to other businesses in the same field. The information you gain here will confirm whether Are the payment patterns of the business in line with industry norms.

 

Of course, this also applies to your own business credit report: when reviewing your own report, check for similar trends that your suppliers may notice.Company Background and Information

 

A business credit report should include certain information, such as the name, address, and contact information of the company. It might also include information on its business type, such as the number of employees, industry by NAICS or SIC code, the status of incorporation, sales figures, and key officers. Conduct a careful review of this information to ensure that it is consistent with the records held by your company. If this information should not be consistent, be sure to advise the company concerned and request an explanation.

 

A Word of Caution: Fictitious company names hide the true ownership of a business, so be alert for this kind of detail: it could well be an indication that the company concerned is attempting to conceal information.

 

Legal Issues

 

A business credit report can help you identify new clients who may turn out to be credit risks, or suppliers who may not be reliable, by disclosing legal issues regarding outstanding lawsuits, bankruptcy filings, court judgements and liens. It is true that many companies have at one time or another faced some type of legal proceeding or lawsuit, so it may not necessarily be important that they have a pending lawsuit. However, companies that have experienced bankruptcy proceedings or have liens placed against them should be assessed very seriously.

 

Collection Proceedings

 

Does the company in question have a known history of having accounts sent out for collection or of letting its bills lapse? Question continuous late payments, because they may be the result of disputes over goods and/or services, merchandise or other non-financial issues.

 

The Age of a Company

 

How long has the company in question been in business? Typically, a company that has been operating for many years will be more financially savvy and adept at managing their finances than a young company. A young company could well be a very good credit risk, but their creditworthiness should be researched further. One way of doing this is to check the personal credit reports of the leaders for the company, which should offer insight into how diligent they are about handling accounts.

 

Uniform Commercial Code (UCC) Filings

 

Checking a UCC filings of the company will offer an insight into the leases and liens it has in place. Reviewing this section of the business credit report can offer clues on how credit is used by a company. Let us say this specific company has a high number of trade credit relationships with other businesses, or it has a number of assets being held as collateral on existing loans: this could well mean that the business is financially overextended.

 

Do your research and take all of these factors into account before making the decision to add your own name to the list of creditors of the company.

 

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How To Perform A Credit Check On A Company

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Why You Should Use a Business Credit Report Service

 

It is irrelevant whether you are just starting out in business, or you own a small business, or perhaps you manage a large business that has been around for many years. In all of these circumstances a business credit report can help you grow your business. A business credit report is crucial when it comes to making financial decisions and ultimately running a financially successful enterprise. In fact, a business credit report is just as important as a personal credit report and, similar to a personal credit report, it can make or break your business.

 

A loan is usually necessary for the growth and development of any business and, for those just starting out in business, borrowing money is vital for the business to function from one day to the next - that is, until the business begins to show a profit. Whether you are approved for a loan could well be determined by the information listed on your business credit report. You will be eligible to receive better loan terms and rates if your business credit is good, so being aware of this and staying on top of your business credit report can be key to the survival of your business .

 

We have conducted a review of the best business credit report services to assist businesses in choosing a company that is capable of providing them with not only a business credit report but additional business credit services as well. In our opinion, Ansonia Credit Data is a top-quality business credit report company.

 

What to Look for in a Business Credit Report

 

Your Business Credit Score is determined the same way as your personal credit score. Your financial information, which includes information from lenders and suppliers, background information and legal filings, all help determine your business credit score. Your personal credit score contains information very similar to a Business Credit Score, however, this information is reported differently: a personal credit score is reported on a scale from 300 to 850; whereas a Business Credit Score is reported from 0 to 100.

 

Generally, business credit report companies do much the same thing: they provide you with a business credit report which enables you to make informed financial decisions regarding your business. In addition, these companies also provide other business credit services, and the following criteria were taken into consideration when reviewing these business credit report companies -

 

Business Credit Report Content

 

The content contained within the business credit report is crucial when it comes to understanding what is affecting your credit score and your overall credit caliber. You should expect your business credit report to detail as much information as possible about the credit of your company. For example, the history and relevant information concerning your company should be included, together with the risk score. Also included should be risk factors, payment information, financial background, financial relationships, collection history and filings, and any inquiries that may have been made about your Business Credit Report.

 

Credit Monitoring

 

Similar to your personal credit score, your business credit score can alter very quickly, which explains why it is so important that you monitor your business credit. A good business credit reporting company will offer a variety of credit monitoring services to help you stay on top of what is showing on your Business Credit Report, in addition to determining if the information included is actually correct.

 

A good business credit reporting company will offer credit monitoring features, like picking up any major changes to your credit or any fraudulent activity, in addition to information regarding enquiries from others about your business credit report.

 

Identity Fraud Prevention

 

Identity fraud is not only a problem that concerns individuals, it is also a problem for businesses. Crucial to protecting your credit score and preventing fraud is the protection of the identity of your business . A good business credit reporting company will offer identity fraud protection services, in addition to offering a business credit report. The services might include educational materials and identity protection that will ensure your business is protected from identity fraud.

 

Business Solutions

 

The best business credit report companies are capable of providing other business solutions to financially assist your business. Such as receivables portfolio management analysis.

 

Help & Support

 

It is very important that you receive help and support when you need it, particularly when it concerns your business credit report. For starters, in order to make correct financial decisions, you need to be able to read and understand exactly what your business credit report says about your business. You should have easy access to your A business credit report company, through email, telephone and an online contact form. In addition, you should have access to pertinent resources such as educational articles, and Frequently Asked Questions.

 

A business credit report will assist you in making smart financial decisions, regardless of the size of your business. Simply understanding what your business credit report contains offers amazing peace of mind when applying for a business loan. Of course, additional business credit report services are extremely advantageous when they offer protection for the identity of your business and assist by monitoring your business credit.

 

 

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You Can Find More Information at  Businesscreditreporting.org and at www.constructioncreditreport.net

Call Us Today at: 1-855-267-6642

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