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If I were a small biz... I would go to Google and search for Experian, Trans-Union, and whatever that other credit reporting agency is, or just search for credit reporting agencies, go to their websites and look for info on how to report.

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โˆ™ 2006-09-14 02:46:04
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Q: How does a small business report to a credit agency?
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As a small business how do you report bad payment history?

Small businesses should report bad payment history to a business credit reporting agency. A few of the key business credit reporting agencies are Dun & Bradstreet, Experian and Equifax.


Where do you go to register your small business with the credit bureau to start establishing business credit?

Open up a line of credit with a bank or get a credit card in the business' name. Those entities will report to the credit bureaus based on your usage of the credit line.


Do you know how much the charge is for an eperian credit report?

There is no such thing as an eperian credit report. Perhaps you meant Experian Credit Report? In that case, it depends on what kind of service (personal, enterprise, small business, credit education) you are seeking. Currently, to get your own credit report, it costs $1.


Can you as a small business owner report a non paying customer to a credit bureau and if so what is required?

You have not stated where your business is.Different States, Provinces and Countries have different rules.In General:You must be able to prove the debt as valid, if you report and can't prove the debt you will be in legal trouble.Call the credit reporting agency, they will help you with how to report.If you need to figure out who to call ask your bank. They will have the #.


What are the downfalls in using a small business credit card?

Many credit card companies will require that the credit card be guaranteed by the business owner. This means that the credit card would show up on the business owner’s credit report. This might pose a problem if you get into substantial debt.


What government agency regulates small business loans?

The government agency that regulates small business loans is the United States Small Business Association. There is a large network in place to assist in all areas of small business.


What Government agency is responsible for encouraging the development of small business?

Small business administration


Can you establish credit for your new business by using one of the credit cards you already have and adding the business onto it like one would add an authorized user?

Yes, if you are one of the owners, or sole owner of the company. One other way, would be to apply in the company's name with your self as a principal signer. Business Credit is separate from Personal credit - that is important to remember as a small business owner. Many business owners, just like in this question, have bad credit but that is not to be confused with business credit. Just like Equifax reports credibility of an individual the business has a credit reporting agency that reports on its stability as well. The key is to get your business registered with the credit reporting agency so that lenders can feel confortable issues out loans, credit lines, or extended terms to the business. Bad credit or lack of credit is no longer an obstacle that prevents the small business owner from finding financing or funding their small business. Small business loans are available to those who have incorporated their business, have a corporate tax id and are willing to keep up their business profit and the business credit score. A handful of companies help with that online right now, I suggest searching the web. That will allow you to view the companies that help with that service.


How do I get a business line of credit?

You can get a business line of credit from a bank. You can also check with the Small Business Administration.


How do I improve my business's credit rating to get better small business loan rates?

The short answer is to pay all your vendors on time. Additionally, check your business credit profile. Dun & Bradstreet and the big three credit bureaus all keep business reports, check your report to make sure it represents your business and payment history.


Are there any business credit cards that will let you establish credit without using your personal information?

For business credit cards you must have a business credit profile. Without a business profile and a business credit score you cannot get a "business" credit card. What you CAN get is a personally guaranteed credit card for business use. What people often fail to realize that by personally signing for a credit card it is STILL a personal credit card. The only difference is that the bank says "this is a business credit card" and it is to be used for business purchases. Consider building up your business credit profile before applying for a real business credit card (a credit card which allows the business to be its own collateral, not you). A true business credit card is a line of credit that is taken in the name of the business, under the business' credit. Activity, whether good or bad, is reflected on your business' credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business. However, some companies out there offer "business" credit cards which they require a person guarantee for. These institutions will often ask for a personal guarantee, and will almost always ask for a social security number from the person applying for the card. If this is the case, the credit card is not a business credit card, but is simply a personal credit card which is used for the business. The business is not liable for bills and debts - you are. When applying for a credit card for your business, watch out for areas asking for your SSN (and not your TaxID or EIN) and be wary of any credit card that asks for a personal guarantee. By ensuring that your credit card is in the name of your business, you can help to build your business' credit, while avoiding creating problems with your own. Many companies offer a list of credit cards that are issued under the business name only. Those lists typically run $300-$900, depending on the quality of the information inquiring. If your business is a sole prop., you are not going to get a credit card with only your tax id number. Our business has a credit card with our business name on it, however, it shows up on our personal credit report. If your business is a partnership, your local bank may help you get a credit card using your tax id number. Our local bank here in TN worked with us. Internet offers are no help in this situation. We also found a service that guarantees to help you get business credit cards using a tax id, but they wanted $1,500 for the service. Business Credit is separate from Personal credit - that is important to remember as a small business owner. Many business owners, just like in this question, have bad credit but that is not to be confused with business credit. Just like Equifax reports credibility of an individual the business has a credit reporting agency that reports on its stability as well. The key is to get your business registered with the credit reporting agency so that lenders can feel comfortable issues out loans, credit lines, or extended terms to the business. Bad credit or lack of credit is no longer an obstacle that prevents the small business owner from finding financing or funding their small business. Small business loans are available to those who have incorporated their business, have a corporate tax id and are willing to keep up their business profit and the business credit score.


Can you take out a loan for small business credit cards?

Some banks will give you a loan for a small business if you have the proper credit. And yes, there are some credit cards available specifically for small businesses.

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