How to Check Your Business Credit Score

Check your business credit score for free with Nav. It’s simple and quick to do. Plus, understand what factors influence your score.

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What is a business credit score?

A business credit score is a number that lenders use to help them decide whether to give you a loan or other financial assistance. The score is based on information in your business credit report, which is a record of how you’ve handled loans and other financial obligations in the past.

Lenders use business credit scores to determine the risk of lending money to your business. The higher your score, the less risk you pose and the more likely you are to get approved for a loan.

If you have a good business credit score, you may be able to get better terms on loans, such as a lower interest rate. A good score may also help you get approved for lines of credit and other forms of financing.

There are two main types of business credit scores: FICO® SBSS® Scores and Dun & Bradstreet Scores. FICO® SBSS® Scores are used by some lenders, while others use Dun & Bradstreet Scores. You can check your business credit score for free on Nav, which uses data from Experian to generate its scores.

How to check your business credit score

Your business credit score is a number that reflects the risk associated with lending you money or doing business with you. Lenders use this number to determine whether or not you’re a good candidate for a loan. There are a few different ways to check your business credit score.

Equifax

Equifax is one of the three major credit bureaus in the United States, and it offers a variety of services for business owners, including business credit scores. You can get your Equifax business credit score by signing up for a free trial of its Business Credit Edge service. This service will give you access to your business credit report and score, as well as monthly updates. You can also sign up for Equifax’s Business Credit Advantage service, which costs $19.95 per month and includes monthly updates to your business credit report and score, email alerts about changes to your account, and access to live customer support.

Experian

Experian is one of the main providers of business credit scores. You can get your Experian business credit score for free on their website. Just create an account and fill in some basic information about your business. Experian will then generate a report for you based on their database of information. This report will include your Experian business credit score, as well as some other useful information about your business credit history.

Dun & Bradstreet

Dun & Bradstreet is one of the most popular business credit reporting agencies. You can get a free report from Dun & Bradstreet by sign up for a free D&B CreditSignal account.

Get started by visiting the D&B CreditSignal website and entering your business information. Once you have registered, you will be able to login and see your credit score and report. You can also set up alerts so that you will be notified if there are any changes to your score.

How to improve your business credit score

There are a number of factors that go into calculating your business credit score. Payment history, credit utilization, and credit mix are just a few of the things that are considered. So, how can you improve your business credit score? Let’s take a look at a few methods.

Pay your bills on time

One of the most important factors in your business credit score is your payment history. Just like with personal credit, if you have a history of paying your bills on time, it will reflect positively on your credit score. Conversely, if you have a history of late or missed payments, it will have a negative impact on your score. So, if you want to improve your business credit score, one of the best things you can do is to make sure that you are always paying your bills on time.

Another factor that is considered in your business credit score is the amount of debt that you have. In general, the less debt you have, the better off you will be. However, there is such a thing as too little debt. If you have no debt at all, it may be viewed as a red flag by potential lenders, as they may view you as being too risky to lend to. Therefore, it is important to strike a balance when it comes to debt; too much debt can hurt your score, but too little debt can also have a negative impact.

The length of your credit history is also a factor in your business credit score. The longer your history, the better off you will be. This is because lenders like to see that you have a track record of making timely payments over an extended period of time. Therefore, if you are just starting out in business, it may take some time to build up an excellent business credit score. However, there are things that you can do to help improve your score even if you don’t have a long history yet.

One final factor that is considered in your business credit score is the type of credit that you have. It is generally best to diversify your portfolio by having both lines of revolving credit (such as credit cards) and lines of installment credit (such as loans). This shows potential lenders that you are able to handle different types of credit responsibly and makes you appear to be less risky than someone who only has one type of credit account.

Use a business credit card

Business credit cards are a good way to improve your business credit score. This is because they help build your payment history. It is important to make sure you pay your business credit card bills on time and in full every month. If you do this, it will show that you are a responsible borrower and help improve your business credit score.

Monitor your business credit report

Your business credit score is important because it is one of the factors that lenders and creditors will use to determine whether to extend you credit and at what terms. A high score will give you access to better terms, including lower interest rates, while a low score could limit your access to credit or result in less favorable terms.

You can check your business credit score for free on Nav.com. Simply sign up for a free account and click on the “Check My Score” button on the top of the screen. Nav will give you your Experian Business Credit Score, which is based on information in your Experian Business Credit Report.

It’s important to monitor your business credit report regularly, not just to check your score but also to make sure that the information contained in the report is accurate. You can request a free copy of your report from Experian once every 12 months.

What to do if you have a low business credit score

If you have a low business credit score, there are a few things you can do to improve it. You can start by paying your bills on time, maintaining a good credit history, and using a business credit monitoring service. You can also try to get a credit line increase, or get a business credit card.

Work with a credit repair company

If your business credit score is low, it means you have some negative marks on your credit report. These could be things like late payments, collections, or charge-offs.

There are a few things you can do to try to improve your business credit score. One option is to work with a credit repair company. These companies specialize in helping people improve their credit scores. They will look at your credit report and dispute any negative items that they think are unfair or inaccurate.

Another option is to try to improve your payment history. If you have late payments or collections, try to pay them off as soon as possible. If you have charge-offs, you can try to negotiate with the creditor to have the items removed from your credit report.

You can also try to get a business loan from a lender that specializes in working with businesses with bad credit. These lenders are more likely to look at other factors besides your credit score when considering you for a loan. Factors such as your revenue, time in business, and cash flow can all be important when lenders are making lending decisions.

Improve your personal credit score

If your business credit score is low, there are a few things you can do to improve it. One of the most important things is to make sure that you have a good personal credit score. This is because many lenders will look at both your personal and business credit scores when they are considering you for a loan.

There are a few things you can do to improve your personal credit score. One of the most important things is to make sure that you pay all of your bills on time. This includes any debts that you may have, such as credit cards, car payments, or student loans. You should also try to keep your balances low on your credit cards, and avoid opening new accounts if possible. If you have any collections or Charge-offs on your credit report, you should try to pay them off as soon as possible.

In addition to improving your personal credit score, there are a few other things you can do to improve your business credit score. One of the most important things is to make sure that you always pay your bills on time. This includes any invoices that you may have from suppliers or customers. You should also try to keep a good relationship with your creditors, and avoid defaulting on any loans or lines of credit that you have. If you have any negative items on your business credit report, such as tax liens or bankruptcies, you should try to get them removed as soon as possible.