Do You Know How to Check Your Business Credit?

There are two reasons business owners need to fully understand business credit and how to check the business credit of their business and other businesses as well. The first, and obvious, reason for knowing how to go about finding your own company’s credit rating is to be sure it is in good shape and will help you get the loans you need. The second reason your own business credit is important is that others will look at it as a testament to your responsibility and the stability of your company.

You need to know how to check business credit ratings to be sure other companies are financially stable and responsible too. The same reasons others check your company are important to you when considering doing business with another company or making major purchases from them.

Where to Check Your Business Credit

Any of the major business reporting agencies will give you a copy of your report. Unlike personal credit, it is not a law that a credit company must provide any free reports except in the case of turning down an application for credit. You will either have to pay for your reports, or belong to a credit management plan with them, or an outside credit company. The main credit reporting agencies for businesses are:

• Equifax Business

• Experian Business

• Dun & Bradstreet

Getting another Company’s Report

You will need the full name and address of the business you are interested in researching. Use one of the above agencies and fill out the request form on their website. If you are checking on a company’s credit history to do business with them, ask the owner for the companies EIN number or DUNS number for an easier search. 

If they are not willing to give it to you, it may be a good idea to look elsewhere. In the case of business credit ratings, it is public record and all business owners should be ready to have outside people checking into it. When you check the business credit of your own company or someone else’s business rating, a score of 70 or higher is a very good credit history.

Subprime Automobile Lender - a Specialist for Bad Credit Auto Financing

Is your bad credit history preventing you from getting a car loan? How long will you be waiting? Life has to move on and you cannot wait for your credit score to recuperate for a long time. You might have some partial amount to buy your dream car but you are looking to get auto loans. These financial lenders will give you thousands of reasons to hike the interest rates. Do not worry. Most of the lenders might even reject the applications on seeing a bad credit score. Subprime auto lenders come as angels to fulfill your dreams. It is possible to get bad credit auto loans with subprime lenders as they are specialized in these kinds of loans. It is only the experts who can help you during the troubled times.

Use the following tips to get easy approval with subprime lenders in order to get bad credit auto loans.

It is always recommended to have a close look at the credit report. It might seem to be like a disfigured monster which you do not want to face. It's the reality that you have to check and make sure to know where you stand. Studies reveal a fact that as many as 70% of the reports are wrong and it is your duty to verify it with the organizations.

It is good to insert an explanation document with your credit report. Certain circumstances might exactly reflect the numbers on the credit report. You might have got a pink slip due to recession or you might have signed as a guarantee for your friend on his loans who has later defaulted. These conditions are negotiable and the impacts can be minimized with these letters.

Submit your applications within a two week period to multiple lenders. Queries and applications made within 2 weeks will be counted as one attempt and this will help you to minimize the impact of negative score.

Get the loan before you start searching for the car. There are specialized subprime lenders available in the market. The internet is the best place to start your search. A simple Google search will kick start your campaign in finding reliable subprime car lenders. It is obvious that interest rates will be higher when compared to the traditional loans. It is just the fee that you pay extra to fulfill your desire. It is good to bypass the car dealers who will charge you extra money as they work on commission basis.

Down payments will help you to get the subprime auto loans easily. A minimum of 10% money down will help you to gain credibility and the process will be smooth till the end. This payment will make sure to project you as a prospective buyer and responsible borrower. This will also help you to negotiate the interest rates and will bring down the monthly payments.