Business credit file is the same as your personal credit file only for your business credit scores. Your business credit file is important to your business because what is in it can determine whether or not your business will get approved for financing. In the personal credit world if your credit scores are good then you will get approved, it is much the same in the business credit world.
A business credit file contains information including:
- identifying information
- credit information
- public record information, and
It is vital to the financing success of your business that you have a business credit file set up with all three business credit reporting agencies and that you know what is in each file. Having all three files conform and making sure that they all list your business’s exact legal name, with the right EIN, at the correct address and with all open accounts will greatly increase your chances to obtain business lines of credit and other types of business financing you might seek. Make sure that your business credit file are all open and that you know what is in each one of them.