Apr
28
2011

Credit bureau reporting helps small business lenders stay competitive

Reporting your commercial accounts receivable experiences to commercial bureaus is not a new idea, but “give to get” consortiums that provide access to exclusive content are increasing in popularity as one way to get a competitive edge in today’s challenging market conditions.  These credit “co-ops” provide access to premium risk tools such as highly predictive scores, portfolio benchmarking and proven collection services. Another consideration is that if you are not reporting your data, you may find your account experiences conspicuously absent in the bureau scores and reports you rely on to make your credit decisions. It also might surprise you to know that bureaus provide special pricing incentives to data contributors, providing “found money” to budget beleaguered credit departments. You can find more details about how data reporting can make you more profitable here.


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