Deciding on whether to extend credit to a potential customer, increase the credit line of a present client, or to stop selling to one is by no means an easy decision in today’s uncertain economy. Credit reports enable you to evaluate if you are going to get paid—the bottom line. The reports demonstrate the company/owner’s management proficiency. Are there bankruptcies, state/federal tax liens, judgments or collections? How are other suppliers paid? What are the historical payment trends? All questions that need to be considered before saying YES.
Both Experian and Equifax provide comprehensive business credit information on more than 24 million businesses. Their reports include highly predictive credit risk scores built on trade credit, public record filings, and banking/leasing payment history. Also available are consumer and commercial blended solutions for a more complete picture of the business credit risk. They also provide valuable avenues to monitor and manage your account portfolio to help stop losses and improve your cash flow.
Order credit reports, check for Alert Notifications (a monitoring service of both positive and negative occurrences within your account portfolio), access the DecisionIQ for automated and consistent credit decisions, and/or analyze your account portfolio through the Portfolio Management tab on this new website.
Experian Premier Profile Report
The newest and most comprehensive business report that facilitates better decision making by supplying the credit information needed for accessing credit risk, fraud checks, and performing background checks. It provides details related to business payment performance, public record and company history for a quick and precise determination of the credit worthiness of a business.
Sample Report
Experian Intelliscore Plus (PDF)
A predictive report that uses advanced statistical techniques and data including tradeline and collection information, recent credit inquires, public record filings, new account activity, key financial ratios and other performance indicators to provide a risk score. A commercial-only or a blended report combining the data from the business and the owner/officer/guarantor can be selected. Recent studies have shown that when determining the risk potential of small businesses, evaluating both the business and owner credit performance is more predictive than employing a commercial or a consumer risk model alone. Credit scoring significantly reduces subjectivity in the decision process by analyzing applicants using consistent criteria.
Experian Financial Stability Risk Score (PDF)
This score identifies the possibility of a business going bankrupt or defaulting on its obligations.
Experian Business Profile Reports (PDF)
This comprehensive report provides a current, objective picture of how a business handles its financial obligations, including detailed trade and background information critical in assessing the credit worthiness of the company.
Sample Report
Experian Business Owner Profile (PDF)
A risk score and other necessary data from Experian’s consumer database is used in this report when you need to rely on the guarantor or principal’s credit worthiness in order to make a business credit decision. Although the information is based on the principal/guarantor’s personal credit, this report is geared towards assessing that data from a business perspective and point of view. Please note that you must be within the legal guidelines of the Federal Trade Commission (FTC) and Federal Fair Credit Reporting Act (FCRA) to order any reports with consumer data.
Sample Report
Experian Owner Background Report (PDF)
This report identifies an owner’s relationship with current and former business interests. It is available on principals, partners or key senior employees and also includes consumer and commercial data. The reports come in 3 levels: linkage, fraud and comprehensive.
Experian Business Summary Report (PDF)
This is a summarized, low-cost credit report that allows users to make quick assessments on low-balance, high volume account transactions of typically less than $1,000. In addition the report is frequently used to help verify whether or not a business is active and/or legitimate
Experian Credit Profile Report (PDF)
This in-depth consumer credit report is a composite of an individual’s credit history, credit score and identification information. Experian maintains records on over 215 million consumers in its database for unparalleled accuracy and superior data quality.
International reports reduce the risk of working with unknown companies in other countries. They provide comprehensive, up-to-date business credit information on companies throughout the world. This information includes business background, company structure, key personnel, and financial assets and liabilities. International credit reports can be ordered in four different ways depending on the country and the business you are requesting the report on. The first way is Online/Instant. If a report is not available on the specific business in the database, then the company is researched and a report is generated. Normal is 7–9 days; Express is 5–6; and Superflash provides the report in 2–4 days. All reports are written in English in an easy-to-read format.
Contact MSCCM for details on the setup process—it’s quick & easy.