Building Business Credit
Business credit scores help lenders, suppliers and other creditors quickly evaluate whether a business will pay its bills on time. Get your Experian Credit Score report today.
How to Improve Your Business Credit Score
Credit scores are complex statistical models for predicting credit risk. While there is no guaranteed way to improve a business credit score, here are a few steps you can take to ensure that your business credit report reflects the best scores possible for your situation.
- Check your business credit report regularly and verify that the information in it is accurate and up-to-date.
- Establish business credit with companies that report trades. Remember, not all business creditors report their trade information.
- Pay your creditors on time. Historical payment behavior with previous creditors plays a major role in calculating your business credit score.
Building Business Credit: How Business Credit Scores are Calculated
Business credit scores range from 0 to 100, with 0 representing a high risk and 100 representing a low risk. Scores are based on a number of factors contained in your business credit report.
- Number of trade experiences
- Outstanding balances
- Payment habits
- Credit utilization
- Trends over time
- Public record recency, frequency and dollar amount
- Demographics such as years on file, Standard Industrial Classification codes and business size
Build business credit and improve your business credit rating.
Experian® requires minimum information to generate a score. So if a business doesn't meet these requirements, a score is not generated. Minimum information is at least one tradeline and/or one demographic element.