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How to Use a Small Business Credit Report

In recent years, the small business credit report has been transformed. At one time, such reports were only available to lending institutions and large corporations. Now, you can order an in-depth report on any company with which you plan to do business, as well as being able to order a report on your own business, to know how other businesses will view your company.

Small business credit reports can be ordered from many online sources, for as little as $8 to a high end of around $140, depending on the depth of the report and the quality of the reporting. The following is an overview of the information included in the most comprehensive reports. Most services offer a range of reports, where you can select what factors will be reported on, and at what level of depth.

  • Company Information
  • Includes company name, address, phone number and date of incorporation.

  • Credit Categories
  • Based on credit payment history, active collections, legal filings, etc., report rates the company's credit status on a scale such as: acceptable, caution, warning, serious risk and bankruptcy.

  • Legal Filings
  • All federal, state and local records are searched for bankruptcy, tax lien or judgment filings. All public records are searched for Uniform Commercial code filings, corporate records, Fictitious Business Name filings, etc.

  • Detailed Collection Filings
  • Nationwide review that delivers names of every collection agency that is actively seeking payment from the company, the amount that is outstanding, and the date the debt was submitted for collection.

  • Payment History
  • Summarizes the company's history of payment performance.

  • Payment Benchmark
  • Compares the company's payment history to other small businesses in the same industry or market.

  • Company Background
  • Type of business, products, number of employees, sales figures, where incorporated, key officers, etc.

    Want more information about registering a company? Visit our Guide. Check out incorporation fees by each state.

    Tip: Did you know that Delaware and Nevada are top two incorporation states?

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