Evaluating business credit data is an essential part for both credit granting and the vendor selection process. This allows you to analyze any financial risks before entering into a contractual agreement and hiring outside services. Conducting research before extending credit or agreeing to work with a new vendor can save you a lot of heartache and money in the backend, by avoiding ageing receivables, contractor fraud, or a business on the brink of bankruptcy.
As an authorized reseller of Experian®, CICReports provides clients with a variety of background reports on more than 27 million credit-active public and private U.S. companies, including international businesses. Like personal credit scores, 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.
Experian’s most robust report, BusinessIQ Premier Profile, provides “quick glimpse” views and comprehensive details related to business payment performance, public record history and company background so you can quickly and precisely determine the creditworthiness and reliability of a business. Included are an OFAC screen, credit risk score with quarterly score trend, average days beyond terms to indicate how timely a business pays its bills, any bankruptcies, tax liens, judgments, collection activity, banking and government loan information, and uniform commercial code filings – in an easy-to-ready format.
For more information on business credit, contact us for a free consultation.
Experian released its Q2 ranking of U.S. cities based upon business credit attributes called the Metro Business Pulse. You can view the results by industry and key credit categories: Risk Score, Days Beyond Terms, Delinquency, and Bankruptcy.
Small-business credit conditions bounce back in Q2 Download the index today