Small Business Credit Report

How to find "The Needle in the Haystack"

Small business is the backbone of America. The economy has created a surge in small business growth in recent years. E-commerce and online business-to-business (B2B) transactions have expanded the need for commercial credit checks to include small businesses. With more companies doing business with smaller firms, obtaining credit information on those businesses is more in demand and important today than ever.

In the past, many creditors have had to rely on the consumer report on the business owner to assess a small company because there was little, if any data on the business available. However, just because a business owner has good personal credit, doesn’t always mean they run their business the same way. In fact, it’s frequently the opposite because it’s easy to shut down a business and just start another. Also, successful small business owners are more reluctant to sign personal guarantees, thereby putting their personal credit at risk.

All of this puts vendors in a tougher position to try to gather more credible info on the business or risk losing a potential good customer. So how do you find that “Needle in the Haystack”?

The changing demands of B2B companies has increased competition among the commercial credit bureaus to gather more data on small businesses quickly. D&B, Experian and Equifax have greatly expanded their efforts in this area. There are also other sources of online information available such as industry specific databases, public records and others. Unfortunately, these sources don’t share with each other, leaving data scattered across many databases which makes it difficult to piece together a complete picture.

The only way to make an accurate judgment of a small business’ creditworthiness is to leverage multiple reliable data sources. Cobbling together data from various sources is time consuming and costly. It doesn’t have to be.

For 26 years, Business Credit Reports has done the hard work of pooling together the best sources of company data. As the largest independent provider of business credit data in North America, BCR brings it all together in one place. The Advantage Pro report is the ONLY Tri-Merge business report available in the industry today that combines all the major credit bureaus plus other important data into a single report. Granting credit to small businesses has often been considered a higher risk because of a lack of data. Not anymore.