In the consumer world, you need bad credit to get a bad credit score. This isn’t the case in the business world, which is truly scary.
Experian and Equifax will issue your business an
“F” credit score, even if you have no credit reporting.
They do this because they can populate a business report and score for you if all they have is your basic demographic information.
When you file your annual reports with your Secretary of State for example, the business credit bureaus get that information and create a business report for you, and issue a score.
If you have no tradelines reporting on your reports, your scores will be so low they put you in an
“F” category.
Experian for example will give you a 27-29 score out of 100, just because they know you exist. That
“F” score will then get you denied for loans and credit cards.
Make sure you take the proper steps to see if you’re setup with the business reporting agencies now, and establish your initial credit.
As our client, we help see if you’re setup with the reporting agencies now. We then help you setup a positive profile quickly to establish excellent business credit scores.
These high scores are how you can get automated credit card and loan approvals.
Contact us today to learn more about getting business credit and loans for your company.