What is a business credit score?
Your business credit score is a numeric representation of your company’s creditworthiness. The information on your business credit report is used to produce the score, and business lenders use it when they’re considering your credit application to predict how likely you are to pay them back in a timely fashion. A higher score means your business has a history of paying bills on time.
We will help you to dispute negative items in your payment history.
- We will show you how to maximize your debt ratio score, even if paying off credit cards is not an option.
- We can also help you to removing credit inquiries from your credit report. Most people are aware of the three major Business credit reporting bureaus, Dun & Bradstreet, Equifax Small Business, Experian Business.
- The average difference in scores between the highest and lowest of your credit scores, from the three bureaus, is 60 points. This is the result of the credit bureaus having different items on their report, which may be correct, incorrect or are not reported in full compliance with credit law.
- Two main types of business credit scores, Dun & Bradstreet PAYDEX Score and Experian Intelliscore Plus, scores range from 1 to 100, and the closer to 100, the better. Consumer FICO scores, on the other hand, are ranked 300 to 850, with 800 and above being consider excellent credit.
- Most small business lenders like to see a business credit score above 75, but local lenders may consider lower scores for small businesses or startups. Conventional consumer financing companies rarely make loans to individuals with credit scores below 500.
BENEFITS OF BULDING BUSINESS CREDIT
- Business credit accounts report exclusively to your business credit reports so utilization and inquiries have no effect on your personal credit score.
- Business credit building is FAST. You can expect to receive Store Credit in as little as 90 days and Cash Credit in as little as 120 days!
- Establishing your business credit will increase approval amounts for bank loans which have lower interest rates than most business lenders on the market.
- Business Credit gives you access to high credit limit accounts. Business credit card approval limits are 10-100 times higher than consumer credit approval limits.
There are many reasons why your business credit may be reviewed
- Business loans
- SBA loans
- Commercial real estate
- Vendor payment terms / lines of credit
- Government bids
- Supplier relationships
- And more
These people had amazing results
"They do all the work for you, which makes it very easy for you to see your credit score steadily increase. They treated me as if I was right there in the office, even though I live miles away. "
Satisfied Client, Augusta GA
"Hampton Roads Credit Repair takes the stress out of living a life with poor credit and high interest rates, by having negative items removed from your credit report, and teaching you how to rebuild your credit which leads to a more prosperous life."
Satisfied Client, Williamsburg VA
"I can't say enough positive things about Hampton Roads Credit Repair. My credit has improved so much and there is still more work to do."
Satisfied Client, Buffalo NY