Dun & Bradstreet is the most common, and is used by most vendors to extend lines of credit. Landlords use them to approve office leases as well. Experian is used by many credit card companies and non-traditional business lenders .
Business credit reporting agencies obtain data from a variety of sources to calculate business credit scores and assess the risk of a business defaulting on payments. They collect objective data including payment history reported by creditors, public records like bankruptcy and lien filings, tax information from the IRS, and business registration and incorporation documents. They also gather supplemental information from sources like directories, press releases, and web searches. The goal is to objectively measure a business's ability to pay its bills on time based on this collection of financial and public records data on the business.
The process of getting your business in shape to get the funds needed for its operations does not have to be painful. Learn some tips to make the process easier!
This document summarizes a presentation about the Credit Management Association (CMA). CMA is a non-profit association established in 1883 that provides services to credit and financial managers, including professional education, networking opportunities, and credit information services. The presentation discusses CMA's mission to promote effective business credit management and provides tips on topics like credit policy, accounts receivable management, and key performance metrics.
7 secrets to getting approved for business financing! Visit www.michaelruiz.biz for more information about building business credit & obtaining financing for your company. Whether you are a startup or an existing company, I can help you with the funding you need to grow and thrive as a business!
This document discusses providing financial wellness benefits to employees through alternative lending programs with lower interest rates than predatory lenders. It proposes using alternative credit scoring based on work performance and financial data to provide microloans to employees through a partnership with employers. The program aims to help address the $140 billion informal loan market with interest rates up to 480% by offering loans at 15% interest through the employees' workplace. It has provided over 1,300 loans with bad loans under 1% by leveraging predictive analytics of employee data.
We are here to re-design the time they spend and speed up process. To ensure that with Ztrus technology, accountants can bookkeep all vouchers every month without additional costs and times.
Business credit reporting agencies obtain data from a variety of sources to calculate business credit scores and assess the risk of a business defaulting on payments. They collect objective data including payment history reported by creditors, public records like bankruptcy and lien filings, tax information from the IRS, and business registration and incorporation documents. They also gather supplemental information from sources like directories, press releases, and web searches. The goal is to objectively measure a business's ability to pay its bills on time based on this collection of financial and public records data on the business.
The process of getting your business in shape to get the funds needed for its operations does not have to be painful. Learn some tips to make the process easier!
This document summarizes a presentation about the Credit Management Association (CMA). CMA is a non-profit association established in 1883 that provides services to credit and financial managers, including professional education, networking opportunities, and credit information services. The presentation discusses CMA's mission to promote effective business credit management and provides tips on topics like credit policy, accounts receivable management, and key performance metrics.
7 secrets to getting approved for business financing! Visit www.michaelruiz.biz for more information about building business credit & obtaining financing for your company. Whether you are a startup or an existing company, I can help you with the funding you need to grow and thrive as a business!
This document discusses providing financial wellness benefits to employees through alternative lending programs with lower interest rates than predatory lenders. It proposes using alternative credit scoring based on work performance and financial data to provide microloans to employees through a partnership with employers. The program aims to help address the $140 billion informal loan market with interest rates up to 480% by offering loans at 15% interest through the employees' workplace. It has provided over 1,300 loans with bad loans under 1% by leveraging predictive analytics of employee data.
We are here to re-design the time they spend and speed up process. To ensure that with Ztrus technology, accountants can bookkeep all vouchers every month without additional costs and times.
The document discusses business credit reporting agencies, focusing on Equifax. It provides an overview of Equifax's history from its founding in 1898 to the present day. Equifax collects business credit data from financial institutions through exclusive agreements and from suppliers that provide invoiced goods and services to businesses. The document outlines the various types of business credit reports and monitoring services that Equifax provides.
There are three major companies that collect business information and publish it. Dun & Bradstreet is the biggest with over 210 million records on file. Experian is the second biggest with over 27 million records on file. Equifax is the smallest business CRA.
How Alternative Credit Data Provides Lift in Your PortfolioExperian
What is alternative data and how does it differ from traditional credit data?
How can alternative data be used to maximize your portfolio?
Learn how to leverage this new data set to maximize profits in your business. We’ll cover the latest findings in lender and consumer perspectives on alternative credit data and ways to use alternative credit data across the customer lifecycle giving you a deeper view of the consumer.
This document discusses credit reporting for small businesses. It explains that credit reports contain information provided by lenders, investors and other entities to assess creditworthiness. Maintaining a positive credit report benefits businesses seeking credit. The document outlines the major credit reporting agencies, requirements and benefits of reporting directly or through an intermediary. It also discusses laws governing credit reporting like the Fair Credit Reporting Act and how personal credit impacts a business owner's ability to obtain financing.
This document provides instructions for setting up initial business credit profiles with Dun & Bradstreet (D&B), Experian, and Equifax. It recommends first setting up your business entity with your state and obtaining an EIN from the IRS. Then it describes how to check if you have existing profiles and how to create profiles if needed. For each agency, it recommends obtaining your business credit reports and scores to monitor your credit status. It also suggests using initial trade credit to build positive payment history.
The Donald W. Reynolds National Center for Business Journalism presented the free, three-hour workshop, "Detecting Corporate Fraud: Tips from a Crook and a Sleuth," before the Investigative Reporters and Editors Conference on June 25, 2014.
Roddy Boyd, investigative reporter and founder of the Southern Investigative Reporting Foundation, led this investigative training with Sam E. Antar, former CFO of Crazy Eddie, Inc. and convicted felon.
To access all training materials provided during the series of "Detecting Corporate Fraud" workshops, please visit http://bit.ly/cofraud14.
For information about business journalism training and resources, please visit http://businessjournalism.org.
This document summarizes options for small business funding. It discusses community development financial institutions (CDFIs) that provide loans under $250k for underserved entrepreneurs. It also discusses SBA loan programs that guarantee portions of bank loans. Alternative online lenders are described as providing quick approval but at higher interest rates, so caution is advised. The document recommends researching funding options and understanding requirements like the 5 C's of credit before applying for loans. Resources like Venturize.org are provided to help small businesses compare funding options and become loan-ready.
Credit is a powerful tool. It can either make or break your business, depending on how you use it. This presentation will give you actionable recommendations so you can utilize credit to grow your business to new heights.
This document provides information on how to repair damaged business credit. It discusses obtaining business credit reports from the three major credit reporting agencies and disputing any inaccurate or outdated information directly with the agencies and creditors. The key strategies outlined are sending debt validation letters, disputing accounts, settling debts by paying outstanding balances, and proactively building new positive business credit to offset negative items on the reports over time.
Key person protection is important for business continuity and to protect against financial loss in the event a key person dies or becomes critically ill. It helps minimize business interruption, ensures loan obligations are met, and protects startups and management buyouts that rely heavily on certain skills and relationships.
SMERGERS is a deal platform that automates the process of connecting businesses, investors, acquirers, lenders, and advisors. It provides services like mergers and acquisitions, fundraising, and debt transactions. Businesses can create a profile, get matched with potential partners, and connect. Investors can search for matching businesses. SMERGERS also offers professional services like business valuations, business plans, and due diligence to help accelerate deals.
3 tips to increase response rates when marketing to a business - Sip and SolveExperian
Finding new prospects and customers in the market for business credit has never been more difficult. Even with hyper-personalized and targeted campaigns, marketing response rates can still be stagnant.
During this webinar you will learn how to:
Get the right message to the right prospect using data beyond traditional marketing firmographics
Use analytics to optimize marketing spend
Prioritize your outreach by identifying who is likely in the market to buy
Watch the recording of this webinar:
https://www.experian.com/business-information/webinar-sip-and-solve-ep-16-3-tips-to-increase-response-rates
This document discusses common reasons why business loan applications may be declined by lenders and provides tips to improve the chances of approval. It outlines key steps like establishing credibility for the business name and address, obtaining necessary licenses and permits, setting up a business bank account and credit profiles, and maintaining good personal and business credit histories. Following the guidelines around building credibility, using an accurate business name and address, and ensuring positive credit quality can help businesses strengthen their applications and increase their approval odds.
This document summarizes a presentation on estimating supply and demand for microcredit in a community. The presentation is given by representatives from Friedman Associates, an organization that helps microfinance institutions achieve their goals of sustainable and economically vibrant communities. The presentation covers conducting a supply and demand analysis through quantitative data analysis and qualitative key informant interviews. It discusses estimating the size of the capital gap in a community and identifying high priority zip codes for microloan programs. It also provides guidance on assessing if a microloan program is ready to ramp up, including reviewing strategic goals, loan guidelines, lending procedures, use of portfolio data, and investing human resources. The overall document aims to help microfinance organizations better understand their market opportunities and make strategic decisions about their micro
Dun & Bradstreet (D&B) is a business information company that was formed in 1933 through the merger of the Mercantile Agency and R.G. Dun & Company. D&B maintains a large global database of business information and provides products and services to help companies evaluate risk and identify sales opportunities. In 2010, Dun & Bradstreet Credibility Corp was formed through a strategic relationship with D&B and now handles D&B's business credit building services. D&B's main products include its Paydex score for assessing business creditworthiness and various sales and marketing databases.
If a startup can show legitimacy it helps the lender feel comfortable about lending. Building business credit is a specific process. Your startup is your dream! It might begin on your kitchen table and turn into a multinational corporation.
This document discusses how call centers can make money by offering business credit and financing solutions to their customers. It describes a turnkey system that provides access to business credit programs, funding options, and marketing materials. Call centers can earn thousands per sale by offering this solution, as well as ongoing commissions from funding. Case studies are presented of call centers earning hundreds of thousands in revenue through high-volume sales of a business credit and financing program. The webinar argues this is a lucrative opportunity for call centers to help business owners while significantly boosting their own profits.
The document discusses business credit reporting agencies, focusing on Equifax. It provides an overview of Equifax's history from its founding in 1898 to the present day. Equifax collects business credit data from financial institutions through exclusive agreements and from suppliers that provide invoiced goods and services to businesses. The document outlines the various types of business credit reports and monitoring services that Equifax provides.
There are three major companies that collect business information and publish it. Dun & Bradstreet is the biggest with over 210 million records on file. Experian is the second biggest with over 27 million records on file. Equifax is the smallest business CRA.
How Alternative Credit Data Provides Lift in Your PortfolioExperian
What is alternative data and how does it differ from traditional credit data?
How can alternative data be used to maximize your portfolio?
Learn how to leverage this new data set to maximize profits in your business. We’ll cover the latest findings in lender and consumer perspectives on alternative credit data and ways to use alternative credit data across the customer lifecycle giving you a deeper view of the consumer.
This document discusses credit reporting for small businesses. It explains that credit reports contain information provided by lenders, investors and other entities to assess creditworthiness. Maintaining a positive credit report benefits businesses seeking credit. The document outlines the major credit reporting agencies, requirements and benefits of reporting directly or through an intermediary. It also discusses laws governing credit reporting like the Fair Credit Reporting Act and how personal credit impacts a business owner's ability to obtain financing.
This document provides instructions for setting up initial business credit profiles with Dun & Bradstreet (D&B), Experian, and Equifax. It recommends first setting up your business entity with your state and obtaining an EIN from the IRS. Then it describes how to check if you have existing profiles and how to create profiles if needed. For each agency, it recommends obtaining your business credit reports and scores to monitor your credit status. It also suggests using initial trade credit to build positive payment history.
The Donald W. Reynolds National Center for Business Journalism presented the free, three-hour workshop, "Detecting Corporate Fraud: Tips from a Crook and a Sleuth," before the Investigative Reporters and Editors Conference on June 25, 2014.
Roddy Boyd, investigative reporter and founder of the Southern Investigative Reporting Foundation, led this investigative training with Sam E. Antar, former CFO of Crazy Eddie, Inc. and convicted felon.
To access all training materials provided during the series of "Detecting Corporate Fraud" workshops, please visit http://bit.ly/cofraud14.
For information about business journalism training and resources, please visit http://businessjournalism.org.
This document summarizes options for small business funding. It discusses community development financial institutions (CDFIs) that provide loans under $250k for underserved entrepreneurs. It also discusses SBA loan programs that guarantee portions of bank loans. Alternative online lenders are described as providing quick approval but at higher interest rates, so caution is advised. The document recommends researching funding options and understanding requirements like the 5 C's of credit before applying for loans. Resources like Venturize.org are provided to help small businesses compare funding options and become loan-ready.
Credit is a powerful tool. It can either make or break your business, depending on how you use it. This presentation will give you actionable recommendations so you can utilize credit to grow your business to new heights.
This document provides information on how to repair damaged business credit. It discusses obtaining business credit reports from the three major credit reporting agencies and disputing any inaccurate or outdated information directly with the agencies and creditors. The key strategies outlined are sending debt validation letters, disputing accounts, settling debts by paying outstanding balances, and proactively building new positive business credit to offset negative items on the reports over time.
Key person protection is important for business continuity and to protect against financial loss in the event a key person dies or becomes critically ill. It helps minimize business interruption, ensures loan obligations are met, and protects startups and management buyouts that rely heavily on certain skills and relationships.
SMERGERS is a deal platform that automates the process of connecting businesses, investors, acquirers, lenders, and advisors. It provides services like mergers and acquisitions, fundraising, and debt transactions. Businesses can create a profile, get matched with potential partners, and connect. Investors can search for matching businesses. SMERGERS also offers professional services like business valuations, business plans, and due diligence to help accelerate deals.
3 tips to increase response rates when marketing to a business - Sip and SolveExperian
Finding new prospects and customers in the market for business credit has never been more difficult. Even with hyper-personalized and targeted campaigns, marketing response rates can still be stagnant.
During this webinar you will learn how to:
Get the right message to the right prospect using data beyond traditional marketing firmographics
Use analytics to optimize marketing spend
Prioritize your outreach by identifying who is likely in the market to buy
Watch the recording of this webinar:
https://www.experian.com/business-information/webinar-sip-and-solve-ep-16-3-tips-to-increase-response-rates
This document discusses common reasons why business loan applications may be declined by lenders and provides tips to improve the chances of approval. It outlines key steps like establishing credibility for the business name and address, obtaining necessary licenses and permits, setting up a business bank account and credit profiles, and maintaining good personal and business credit histories. Following the guidelines around building credibility, using an accurate business name and address, and ensuring positive credit quality can help businesses strengthen their applications and increase their approval odds.
This document summarizes a presentation on estimating supply and demand for microcredit in a community. The presentation is given by representatives from Friedman Associates, an organization that helps microfinance institutions achieve their goals of sustainable and economically vibrant communities. The presentation covers conducting a supply and demand analysis through quantitative data analysis and qualitative key informant interviews. It discusses estimating the size of the capital gap in a community and identifying high priority zip codes for microloan programs. It also provides guidance on assessing if a microloan program is ready to ramp up, including reviewing strategic goals, loan guidelines, lending procedures, use of portfolio data, and investing human resources. The overall document aims to help microfinance organizations better understand their market opportunities and make strategic decisions about their micro
Dun & Bradstreet (D&B) is a business information company that was formed in 1933 through the merger of the Mercantile Agency and R.G. Dun & Company. D&B maintains a large global database of business information and provides products and services to help companies evaluate risk and identify sales opportunities. In 2010, Dun & Bradstreet Credibility Corp was formed through a strategic relationship with D&B and now handles D&B's business credit building services. D&B's main products include its Paydex score for assessing business creditworthiness and various sales and marketing databases.
If a startup can show legitimacy it helps the lender feel comfortable about lending. Building business credit is a specific process. Your startup is your dream! It might begin on your kitchen table and turn into a multinational corporation.
This document discusses how call centers can make money by offering business credit and financing solutions to their customers. It describes a turnkey system that provides access to business credit programs, funding options, and marketing materials. Call centers can earn thousands per sale by offering this solution, as well as ongoing commissions from funding. Case studies are presented of call centers earning hundreds of thousands in revenue through high-volume sales of a business credit and financing program. The webinar argues this is a lucrative opportunity for call centers to help business owners while significantly boosting their own profits.
This document discusses how to build business credit using trade credit from vendors. It explains that trade credit involves vendors extending credit to businesses for purchases, allowing payment within set timeframes like net 30 days. The document advises finding vendors that will issue initial credit to businesses with no existing credit history and that report payments to business credit bureaus. Quill is recommended as one such vendor that can help new businesses establish their first trade accounts and start building a positive business credit profile.
This document discusses how business credit scores from Experian and Equifax affect a business's ability to access financing. It notes that the webinar will cover how the Experian business credit score works and how to control the score to get more financing. It also mentions that it will compare scores to others in the same industry, dissect Experian's Intelliscore Plus, compare Experian scores to FICO scores, and cover how Experian and Equifax scores depict risk of business failure and affect borrowing ability. Finally, it states that the webinar will provide details on Equifax's Credit Risk Score and explain what the actual scores from Experian and Equifax mean and how they impact business operations and access to money
This document discusses a webinar about secured and unsecured business financing options that are available now. The webinar will cover the differences between secured and unsecured financing, types of unsecured financing like business credit cards and merchant financing that businesses can qualify for. It will also discuss secured financing options with low interest rates that even startups and businesses with credit challenges can access.
This document outlines the steps to get business credit cards from Amazon, Dell, and Walmart without a personal guarantee. It discusses obtaining an EIN number and DUNS number for free, understanding business credit reports, getting approved for starter vendor accounts, and following a 5-step process to build business credit in a way that leads to approval for revolving credit cards. The webinar provides the exact steps for getting approved for these cards without a personal credit check.
This document outlines how to build an excellent business credit score in 90 days. It discusses the three main business credit scores, the factors that affect scores, who will approve initial business credit, and how to use the newly established business score to qualify for credit with no personal guarantee. The webinar teaches little-known details about business credit scoring and how to establish excellent credit in just three months.
A walkthrough about 10 business bank account hacks to properly setup and manage your business bank account... and get an excellent bank rating credit score
The document outlines 9 key things to learn about the major credit reporting agencies Dun & Bradstreet, Equifax, and Experian. It will cover the history of the agencies, which has the most records on file, unethical actions that got them into trouble, how one agency's actions led to consumer credit protection laws, the original industry that credit reporting emerged in, which has headquarters in Ireland, which started decades before Trans Union, and an overview of finance products.
This document describes how to obtain $150,000 in credit lines with 0% interest rates through an unsecured business financing program. It notes that the program can obtain 5-8 credit cards or lines of credit for businesses with credit limits 5-8 times the applicant's highest existing personal credit limit. The program claims to be able to approve businesses for a total of $150,000 in credit limits across multiple cards within a short period of time and help build business credit reports through the business credit reporting agencies.
This document discusses unsecured financing options for businesses, including unsecured credit cards, cash flow-based lending, merchant advances, and revenue lending. Unsecured financing does not require collateral to secure the debt. Some options highlighted are unsecured credit cards for businesses with good personal or business credit, which can provide limits from $10,000 to $150,000. Revenue lending offers loans up to $1 million based on 8-12% of annual revenue, with interest rates from 10-45%. Merchant advances similarly offer short term loans up to $1 million based on one month's sales volume.
This document discusses various types of unsecured financing options for small businesses, including unsecured business loans, cash advances, business credit cards, and business credit lines. It notes that unsecured financing carries the highest risk for lenders since there is no collateral pledged. As a result, interest rates for unsecured financing tend to be higher than rates for secured financing. The document also provides details on specific unsecured financing products like cash advances, business credit cards from Chase and American Express, and methods for obtaining business credit without a personal guarantee.
The document discusses various types of business loans and how to qualify for them. It describes conventional bank loans that require good financials and credit. Alternative loans are easier to qualify for and can be based on business cash flow, personal credit, or collateral. Cash flow loans require consistent monthly deposits over $10,000 and being in business over a year. Credit loans are unsecured up to $150,000 with a 685+ credit score. Collateral loans have low rates based on collateral like receivables or equipment. A business loan broker assists by finding the best loan options based on a business's strengths.
The document discusses credit privacy numbers (CPNs), shelf corporations, and buying tradelines. It provides information on what CPNs and shelf corporations are, as well as warnings that using a CPN in place of a SSN for credit applications is considered fraud and illegal. The summaries from credit reporting agencies, government organizations, and the FTC all confirm that CPNs cannot be used to establish new credit reports or identities and promoting their use for this purpose is fraudulent.
Learn more about small business loans, cash access problems,cash flow loans, unsecured financing, collateral-based financing and how to get approved for business financing.
1) Shelf corporations are inactive companies that have been formed years ago and "put on a shelf" to age, making them more valuable to purchase for the purpose of gaining an instant business history.
2) Purchasing an aged shelf corporation can help a new business or entrepreneur qualify for loans and contracts that require an established business history. However, shelf corporations are viewed negatively by regulators and credit bureaus as potentially unethical or deceitful.
3) While shelf corporations can provide some legitimate benefits like faster licensing or credibility, using them to misrepresent business age or access credit could damage a company's reputation if discovered.
KYC Compliance: A Cornerstone of Global Crypto Regulatory FrameworksAny kyc Account
This presentation explores the pivotal role of KYC compliance in shaping and enforcing global regulations within the dynamic landscape of cryptocurrencies. Dive into the intricate connection between KYC practices and the evolving legal frameworks governing the crypto industry.
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
Confirmation of Payee (CoP) is a vital security measure adopted by financial institutions and payment service providers. Its core purpose is to confirm that the recipient’s name matches the information provided by the sender during a banking transaction, ensuring that funds are transferred to the correct payment account.
Confirmation of Payee was built to tackle the increasing numbers of APP Fraud and in the landscape of UK banking, the spectre of APP fraud looms large. In 2022, over £1.2 billion was stolen by fraudsters through authorised and unauthorised fraud, equivalent to more than £2,300 every minute. This statistic emphasises the urgent need for robust security measures like CoP. While over £1.2 billion was stolen through fraud in 2022, there was an eight per cent reduction compared to 2021 which highlights the positive outcomes obtained from the implementation of Confirmation of Payee. The number of fraud cases across the UK also decreased by four per cent to nearly three million cases during the same period; latest statistics from UK Finance.
In essence, Confirmation of Payee plays a pivotal role in digital banking, guaranteeing the flawless execution of banking transactions. It stands as a guardian against fraud and misallocation, demonstrating the commitment of financial institutions to safeguard their clients’ assets. The next time you engage in a banking transaction, remember the invaluable role of CoP in ensuring the security of your financial interests.
For more details, you can visit https://technoxander.com.
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
What Lessons Can New Investors Learn from Newman Leech’s Success?Newman Leech
Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
Calculation of compliance cost: Veterinary and sanitary control of aquatic bi...Alexander Belyaev
Calculation of compliance cost in the fishing industry of Russia after extended SCM model (Veterinary and sanitary control of aquatic biological resources (ABR) - Preparation of documents, passing expertise)
Monthly Market Risk Update: June 2024 [SlideShare]Commonwealth
Markets rallied in May, with all three major U.S. equity indices up for the month, said Sam Millette, director of fixed income, in his latest Market Risk Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
3. Business Credit
• Business Credit is credit that is obtained in a
Business Name
• With business credit the Business builds its
own credit profile and credit score
• With an established credit profile and score,
the business will then qualify for credit
4. Business Credit Benefits
• A credit profile can be built for a business that
is completely separate from the business
owner’s personal credit profile
• This gives business owners DOUBLE the
borrowing power as they have both Personal
and Business credit profiles built
5. Business Credit Benefits
• Business credit scores are based only on
whether the business pays its bills on time
• A business owner can obtain credit much
faster using their business credit profile versus
their personal credit profile.
6. Business Credit Benefits
• Approval limits are much higher on business
accounts versus personal accounts
• Per SBA, credit limits on business cards are
usually 10-100 times higher than consumer
credit
7. Business Credit Benefits
• When done correctly Business Credit can be
built without a personal credit check
• Business credit can quickly be obtained
regardless of personal credit quality
8. Business Credit Benefits
• Most business credit can be obtained without
the owner taking on personal liability, or a
personal guarantee
• This means in case of default, the business
owner’s personal assets can’t be pursued
9. Business Credit Benefits
• When a business owner applies for financing,
their business credit IS reviewed
• Not having business credit established will get
an owner DECLINED for financing
• There are no regulations that require the
lenders notify the business owner for their
reason for denial, so most never know
10. Business Credit Reporting Agencies
• There are three major companies that collect
business information and publish it
• These are Dun & Bradstreet, Experian, and
Business Equifax
• D&B is by far the largest, but the other two
are catching up quickly
11. Business Credit Reporting Agencies
• Dun & Bradstreet is the most common, and is
used by most vendors to extend lines of credit
• Landlords use them to
approve office leases as well
• Experian is used by many
credit card companies and
non-traditional business
lenders
12. Experian’s History
• Roots track back to 1803
• A group of London merchants began swapping
information on bad debtors
• Official associations began to spring up across
the UK to protect merchants offering credit
• One of the largest, the Manchester Guardian
Society, formed in 1826 and
would become an integral part
of Experian
13. Experian’s History
• In the US, during the 1850s, the first
credit agencies emerged “with the
aim of transforming a broad variety of
information into a product that could
be sold for profit”
• One the earliest US credit agencies, Merchants’
Credit Association, was founded in 1897 by a man
called Jim Chilton
• Nearly a century later, this would become another
foundational part of Experian.
14. Experian’s History
• TRW was originally founded in 1901 as the
Cleveland Cap Screw Company
• They started producing screws and bolts and
grew to produce many parts for the aviation
and automobile industry
• They entered and leaped ahead in credit
reporting in 1968 acquiring Credit Data
15. Experian’s History
• In the UK, Experian developed during the
1970’s through Great Universal Stores (GUS),
an established retail conglomerate with
millions of customers paying for goods on
credit
• They combined the mail order data from
various GUS businesses and created a central
database in Nottingham (judgments were later
added)
16. Experian’s History
• In 1996 TRW changes their name to Experian
• November 14, 1996 GUS buys CCN Group and
combines them with Experian
• Two businesses, each leading the field in their
countries were brought together
• The merger established a global leader in the
market for credit reference and credit risk
management services
17. Experian’s History
• On 10 October 2006 Experian was successfully
demerged from GUS
• The following day, shares were traded for the
first time on the London Stock Exchange
18. Experian’s Massive Expansion
• Extending geographic reach in Latin America, Asia Pacific
and Eastern Europe
• Business expanded through a combination of organic
development and strategic acquisitions
– ConsumerInfo.com, in 2002, consumer service
business
– Scorex in 2003, decision analytics
– CheetahMail in 2004, email marketing
– 2005, PriceGrabber, 485 million dollars
– 2005, FootFall, an information provider
for the real estate and retail property
industries
19. Experian’s Massive Expansion
• 2005, LowerMyBills.com, $330 million
• 2006 Northern Credit Bureaus, located in
Québec, Canada
• 2007, Hitwise, and Tallyan
• 2007, Serasa, world’s 4th largest credit bureau
• 2011, Computec, leading credit bureau in
Columbia
20. Experian’s Massive Expansion
• In 2010 Experian became the first CICRA
licensed credit bureau to go live in India,
where it continues to supply reports to the
Reserve Bank of India’s (RBI) guidelines
• They also purchased Medical Present Value,
Virid Interatividade Digital Ltda, and Garlik Ltd,
expanding their data and marketing reach.
21. Experian- Today
• Today Experian is a leading global information
services company
• Employ over 17,000 people
• Experian now supports clients in almost every
major industry, from telecommunications and
healthcare to government and automotive
22. Experian- Today
• Experian operates 19
consumer credit bureaus
• Maintains information on
close to 800 million
consumers
• Experian operates 13 business credit bureaus
• Maintain information on about 99 million
businesses (27 million in US)
–Second largest reporting agency in the
business credit world
23. Experian Business
• Experian focuses on providing quality data and
analytics to businesses to help them better assess
risk
• They possess a massive consumer and
commercial database that they manage to help
businesses obtain the best and most up-to-date
information
• They then extract significant extra value with this
data by applying their own proprietary
analytics and software
24. Experian
• Use both consumer and business credit
information to gauge risk
• “By combining personal and commercial credit
information in one report, Experian provides a
complete picture of the creditworthiness of
small businesses”
• Experian plc is listed on the London Stock
Exchange (EXPN) and in a constituent of the
FTSE 100 Index
25. 2013 Annual Report
Info- Revenue by Region
• 4.7 billion in revenue in 2013
• North America 48%
• Latin America 21%
• UK and Ireland 19%
• Asia Pacific 12%
26. Experian
• Experian’s headquarters are in Dublin, Ireland
• Experian’s business records are spread over 80
countries that Experian services
• Experian’s reach is across four main
geographic regions, including North America,
Latin America, UK and Ireland, and EMEA/
Asia Pacific
27. Experian Locations
• Experian Canada-
Toronto
• Costa Mesa CA
• Mexico
• Costa Rica
• Columbia
• Peru
• Brazil
• Chile
• Argentina
• Norway
• Denmark
• Estonia
• Poland
28. Experian Locations
• Germany
• Netherlands
• London
• Ireland
• France
• Spain
• Monaco
• Greece Italy
• Morocco
• Russia Australia
• Turkey
• Bulgaria
29. Experian Locations
• UAE
• India
• Thailand
• Malaysia
• Singapore
• Honk Kong
• Taiwan
• China
• South Korea
• Japan
• South Africa
• New Zealand
31. A typical Experian business credit report
will include…
• A company’s registration and ownership
details
• Trading addresses
• How quickly the business is paying its bills
• A credit risk score
• Court judgments
• History of financial performance
32. A typical Experian business credit report
will include…
• Business Background Information
• Company Financial Information
• Credit Score and Risk Factors
• Banking, Trade, and Collection
History
• Liens, Judgments, and Bankruptcies
• Uniform Commercial Code Filings
33. Experian Business Credit Monitoring
• Business Credit Advantage, $129 annually,
monitor business credit for 1 year, alerts of
changes
• Business Credit Score- Pro, $175 monthly,
multiple business credit report access
• Profile Plus, $49.95, single report
• Credit Score Report, $36.95 credit summary
report with score
44. Types of Reports to Search Other
Businesses than Your Own
• Company Research Reports
• Business Information Reports
• Corporate Profiles
• Supplier Check Reports
45. Intelliscore
• Business credit scores range from 0 to 100,
with 0 representing a high risk and 100
representing a low risk
• The 0-100 is a percentile score that reflects
the percentage of businesses that score higher
or lower than the specific business being
looked at
46. Experian’s Intelliscore
• For example, if the business has a score of 20,
this means that company scores better than
19% of other businesses
• That also means that 80% of other businesses
score higher than that business
47. Experian’s Intelliscore
• Intelliscore is already being widely used.
• Many of the largest financial institutions
worldwide use it, along with over half of the
top 25 P&C insurers and most major
telecommunications and utility firms
• Industry leaders in transportation,
manufacturing, and technology have also been
known to use Intelliscore as their primary risk
indicating model
48. Experian’s Intelliscore
• The new Intelliscore Plus has over 800
aggregates or factors that affect the credit
scores
• Scores are assessed on the more than 7.2
million businesses in Experian’s
49. Experian’s Intelliscore
Experian first takes a business and looks at data segments
such as firmographics, public records, collections, and
trade information, then places each business in one of
three different models
– The first is their Commercial Model, for
small, medium, and larger businesses
– Second is their Blended/ Owner Model,
where the commercial data is then
linked with the owner’s information
– Thirdly there is the Intelliscore Plus, or
their percentile score
50. Experian’s Intelliscore Breakdown
• Intelliscore Plus, just like FICO, has multiple
facets to the entire score makeup.
• The score is still based on the
payment history of the
business, but many other
factors tie into percentages of
the overall score.
• The Historical Behavior or payment history
accounts for 5-10% of the total score
• Current payment status, trade balances, and
percent of accounts delinquent account for
50-60% of the score makeup
51. Experian’s Intelliscore Breakdown
• The business’ credit utilization affects 10-15%
of the total score
• The company profile, age of business, industry
risk, and size of business assessed by number of
employees accounts for 5-10% of the total
score.
• And 10-15% of the total score is determined
based on the derogatory items,
collections, liens, judgments, and
bankruptcies that business has
52. Experian’s Intelliscore
• When Experian is assigning a business a credit
score they take many factors into account
• They refer to these factors as predictive data,
and use this data to better determine a
business’s lending risk
53. Intelliscore
Data is collected from
–Credit obligation information from suppliers
and lenders
–Legal filings from local, county and state courts
–Company background information from
independent sources, including state filing
offices, public records, credit card companies,
collection agencies, corporate
financial information and
marketing databases…
54. Intelliscore
… and combined with data from other sources
including:
–Actual trade payment experiences submitted
by payees
–Public record information
–Collections information
–Company background and
comparative data that places a
company’s payment performance
in context within its industry
55. Intelliscore
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
56. Intelliscore
• “Calculated by a statistically derived algorithm, designed
to determine risk based on multiple factors”
• Credit: Number of trade experiences, balances
outstanding, payment habits, credit utilization and
trends over time
• Public Records: Recency, frequency and dollar amounts
associated with liens, judgments or bankruptcies
• Demographic Information: Years on file, Standard
Industrial Classification (SIC) code and business size
57. What can lower a
business credit score…
• Current collections, liens, judgments,
bankruptcies or other derogatory public records
on your business profile
• The status, recency, frequency and dollar
amounts of any applicable liens, judgments or
bankruptcies
• An increased trend in slow
payment of obligations
58. What can lower a
business credit score…
• An increase in the number of business credit
inquiries or applications that are generated by
the business or the owner
• The number of trade experiences, balances
outstanding, payment habits, credit utilization
and trends over time
• Years in business, line of business or
Standard Industrial Classification
(SIC) code, size of business and
other demographic data
59. Interesting Fact
Of the more than 500,000 suppliers extending
credit, only about 10,000 report to Experian
60. Time Data Stays on Experian
Business Files
• Trade data: 36 months
• Bankruptcies: nine years and nine months
• Judgments: six years and nine months
• Tax liens: six years and nine months
• Uniform Commercial Code filings: five years
• Collections: six years and nine months
• Bank, government and leasing data: 36 months
61. Fixing Business Credit with Experian
If you need to dispute certain details on your
business credit report, please contact Experian
Commercial Relations in writing
62. Fixing Business Credit with Experian
• You will need to provide all of the following:
– On the report, circle the specific items in question and
provide the correct information. Provide supporting
documentation when available.
– On current company letterhead, list all variations of your
company name and any “formerly known as” names that
your company has operated under for the past 10 years.
– List your company’s current and previous
addresses (physical and Post Office Box
addresses) for the past 10 years.
• Provide the signature and the phone
number of an officer of the company.
63. Fixing Business Credit with Experian
• Send this information to:
– Experian — Commercial Relations
PO Box 5001
Costa Mesa, CA 92628-5001
• Or fax this information to:
– Experian — Commercial Relations
1 714 830 2903