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What Effects a Business Credit Score?

Like personal credit scoring, business credit scores provide a quick view of risk potential based on where the score falls on the scale. The higher the score, the lower the risk. Unlike personal credit scoring, business credit scores use a scale that ranges from 0 to 100.

There are several things that can affect your company's business credit score.

  1. Any derogatory public records on the business Credit, such as collections, late payments, liens, judgments or bankruptcies
  2. The status of liens, judgments, or bankruptcies such as the frequency and the dollar amounts.
  3. The increased of slow payments. (The earlier you pay the better it reflects on the report).
  4. Number of business credit inquiries by the Business or business owner, this also includes applications that are submitted.
  5. The number of trade experiences, balances outstanding, payment habits, credit use and trends over time.
  6. Years in business

Maryann Venable - With over a decade of experience in assisting individuals in managing their debt and rebuilding their credit rating…Maryanne is an expert in the field. Without having a good business credit profile it will be a difficult path to success without having access to working capital and funding. When buying a franchise your credit rating is a crucial part of the qualification process.

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