Your business credit score is more than a number. In fact, it can play a large role in the success of your business. A business's credit score helps lenders, suppliers, and other creditors quickly evaluate whether the business will pay its bills on time.
But understanding the importance of business credit is only half the battle. Once you know your score, you'll want to improve it. Here's how you can do it.
First, realize that credit scores are complex statistical models for predicting credit risk. There is no guaranteed way to improve a business credit score, but there are a few steps you can take to ensure that your business credit report reflects the best possible score for your situation.
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 file.
Experian requires minimum information to generate a score. 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.
Are you interested in learning your business credit score? Check your Experian business credit score by clicking the button below.
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