Equifax Business Credit Scoring

Dun & Bradstreet is the primary company used to evaluate business credit and issue a credit score known as a Paydex score.

Equifax, one of the three major consumer credit rating bureaus, also provides business credit evaluations for over 22,000,000 small businesses and corporations to detect early signs of trouble by monitoring key customers, suppliers, and partners. Equifax’s model is designed for companies that provide goods and services to small businesses.

One of the main Equifax business credit scores is the Small Business Credit Risk score. The Small Business Credit Risk Score™ for Financial Services predicts the likelihood of a business incurring greater than 90 days severe delinquency or charge-off on financial services accounts within a 12-month period. This score is built using financial services and trade payment data, providing a higher degree of predictability. The score range is from 101 - 992 and it returns up to four reason codes.

The score utilizes unique bank loans, lease information, credit card and supplier data, utility credit history, public records, and firmographic data from their own Equifax Commercial Database. 

Expert Credit Consultants, LLC specializes in establishing business credit and funding using our exclusive Business Credit and Financing Suite as well as consumer credit restoration and optimization. www.ExpertCreditConsultants.com

What is Business Credit?

Business Credit, sometimes referred to as Trade Credit, is credit that is established under a business's name instead of the owner's name.

Business credit permits a business owner to use their business credit profile and score for financing - NOT their personal credit scores.

All too many small to medium sized business owners know nothing about business credit so they end up funding their business using their personal credit until they can’t obtain any more personal financing. Then they are in serious trouble, their personal credit is shot, they lose their personal assets, even file personal bankruptcies, all to get rid of business debt. With business credit, this doesn’t need to happen as the business owner them self isn’t liable for the business debts, only the business is.

Having business credit will provide any business owner with some major advantages.

For one, the business can obtain A LOT more money in approvals. The Small Business Administration states

that business credit approvals are typically 10-100 times higher than consumer credit approvals.

There are also many sources that require no personal credit check. So, even business owners with challenged credit can be approved for thousands of dollars of credit for their businesses.

Business credit can be built quickly, much faster than consumer credit. It takes 6 months for an initial consumer credit score to even be established. Then, since the length of time you’ve had personal credit factors into the score, it could take years to have an excellent personal credit score. With business credit, it is very practical for a business to have an excellent business credit score within 90 days or less, then build that credit to a point where the business is getting $10,000 credit card approvals within 6 months or less.

When built the right way, the owners can commonly qualify with no personal guarantee (PG). No PG means business owners can access cash for their businesses without the personal liability. That means in case of default, the lender couldn’t pursue the personal assets of the business owner.  To qualify for most business credit sources with no PG, the business must have a positive business credit score established with the appropriate business credit reporting agencies. The two most commonly used business credit scores are the Paydex score from Dun and Bradstreet and the Intelliscore from Experian.  And, again, you will need credit with all the major business credit agencies, not just one.

Once a positive business credit score is established, many merchants will then approve the business owner for credit in the business's name. Thousands of major merchants offer business credit. But most don't promote their business credit programs, so they are difficult to locate. In addition, only approximately 10% of vendors report business payments to the business credit bureaus unless the owner is late or defaults, which is why the majority of small to medium sized businesses have either no business credit or bad business credit. Just a few of the merchants offering business credit that we can help you obtain for your business include Chevron, Dell, Staples, Best Buy, Apple, and Lowes. Once business credit is established and paid as agreed, the business credit limits will continue to increase and businesses can then be approved for even more credit as well as cash loans in the business name.

It is very practical to build your business credit to where you can obtain $10,000 limits with major credit card accounts within 6 months. Just pick up the phone to call us and get started.

Business credit is one of the strongest assets any business can have.

Don't be one of the 95% of small businesses that fail within the first five years because of lack of funding. Eventually you WILL need to borrow money for your business. Secure it BEFORE you need it.

Expert Credit Consultants, LLC specializes in establishing business credit and funding using our exclusive Business Credit and Financing Suite as well as consumer credit restoration and optimization. www.ExpertCreditConsultants.com

2 Primary Reasons Your Business Needs Immediate Access to Money

There are two very fundamental reasons your business needs access to capital and credit and those two reasons couldn't be more amplified in these uncertain times.

One, is the ability to take advantage of opportunities as they present themselves. If the economy continues to gain steam, there will undoubtedly be opportunities that could increase the revenue into your business. If those opportunities require capital in order to take advantage of and you don’t have access to capital and credit, you have to let those opportunities pass you by, leaving them for your competitors to take advantage of.

Second, to be able to weather emergencies until you have the ability to get things turned around. If the economy does not continue to grow, and your business takes a hit, you need to have access to business credit to use as a lifeline - to keep you afloat until you can get things going in the right direction again.

So how do you get your business access to capital and credit, especially if your personal credit has suffered? By building a properly structured business credit profile based solely on your business' EIN - completely separate and apart from your personal credit. Once your business is properly structured, you will be able to get access to the things that will help your business grow and thrive. All types of Vendor Credit, Lines of Credit, Equipment Financing, Inventory Financing, Working Capital and Vehicle Leases and Loans. With business credit, you will be able to easily access 5 to 10 times the amounts than you would be able to access using your personal credit. But you must have a solid business credit profile established first.

Sadly, most business owners that attempt to establish business credit on their own end up doing themselves more harm than good. Others purchase an eBook or a low end internet program and achieve little if any results. So how do you get this done right without being taken to the cleaners? By engaging us, Expert Credit Consultants. We will give you access to a Business Credit Advisor, who has years of experience in business credit, to help you find and get approved for multiple types of vendor credit, as well as a Business Finance Officer to go find and help you get approved for larger business funding programs. They work with over 2000 lenders across the nation and offer over 30 different types of business funding programs. You won't find this through any bank. We have successfully helped thousands of business owners build properly structured business credit profiles and find them more funding than they ever would have been able to find on their own. And we are so confident that we can help just about any business that we offer a money back guarantee on our service fee.

Don't be part of the 95% of businesses that are going to fail because of lack of access to funding.

Expert Credit Consultants, LLC specializes in establishing business credit and funding using our exclusive Business Credit and Finance Suite as well as consumer credit restoration and optimization services. www.ExpertCreditConsultants.com.

Excellent Business Credit in 60 Days

In 60 days you can have an excellent business credit score. A Business Credit Score is different from personal scores. Personal credit scores are comprised of many factors which affect the scores. But a business credit score is only based on one factor - how the business pays it accounts. Most business owners do not have any kind of business credit profile established. This prevents them from getting approved for the money that is available for them and their businesses. Our Business Finance Suite comes complete with access to over 2100 lenders and 30 core funding products, as well as your own Finance Officer to find the best funding for your particular situation. The Business Credit and Finance Suite provides you a few simple steps to ensure you establish a near perfect business credit score within 30-60 days. This excellent business score can then easily be leveraged to get approved for the money you want for your business. You will be able to get approved for major credit with retailers like Dell, Staples, Home Depot, Chevron, Best Buy, Apple Computer, and hundreds more. And, you can get these approvals with no personal credit check and no personal guarantee. Plus you will have access to SBA loans, equipment loans, merchant loans, and many others that fund very quickly.

Expert Credit Consultants, LLC specializes in establishing business credit and funding using our exclusive Business Credit and Financing Suite as well as consumer credit restoration and optimization. www.ExpertCreditConsultants.com

Top 5 Business Credit Benefits

Imagine having the ability to access $50,000, $100,000, even $250,000 for your business. Now imagine doing this with NO personal credit check and NO personal guarantee.

Your success in business will more than likely be determined based on your business credit profile and score. With a good business credit profile you will have near unlimited borrowing power – unlike personal credit.

Without having a good business credit profile it will be a difficult path to success without having access to working capital and funding. This is why almost all Fortune 500 companies use their business credit to secure funding. It's not that they need the money to operate. Successful companies use funding as leverage to grow their business.

Business Credit is the best kept secret in business. Over 90% of all business owners know nothing about business credit or business credit scores. But when you do discover the power of what business credit can do for you and your business you will be floored at how easy it is to get money and grow your business.

1-One of the many benefits of business credit is that you can obtain funding with no personal credit check. With a strong business credit profile, lenders will lend you money based on your business credit, not your personal credit.

This is excellent if you have personal credit issues as you can still qualify for funding. Even with exceptional personal credit, business credit gives you DOUBLE the borrowing power.

2-You can get approved for much higher funding amounts using your business credit than you would if you used your personal credit to qualify.

3-Another great benefit of business credit is there is no personal guarantee required for much of the funding you obtain. This means you can be approved with no personal liability.

So if you ever do default, the creditor can't pursue your personal assets like your home or personal bank accounts.

4-Business credit adds more value to your business and gives your business credibility. Stakeholders, partners, lenders, even potential buyers of your business will see more value in your business if you have a strong business credit profile established.

5-Most importantly, by having a good business credit profile, you have security. It is much easier to run your business when working capital is easy to come by. Any business with a $150,000 credit line available will have a much better chance of growth than if $0 was available.

Through the Business Credit and Finance Suite, you will be able to secure well over $50,000 in business credit within months.

There is no excuse for not getting the funding you need. But you need to position your business for funding BEFORE you really need funding.

Expert Credit Consultants, LLC specializes in establishing business credit and funding using our exclusive Business Credit and Financing Suite as well as consumer credit restoration and optimization. www.ExpertCreditConsultants.com.