PROS: Detailed financial data provided from a renowned credit reporting agency; Easy to download; Five-for-the-price-of-four bundle option
CONS: Competitor offerings are less expensive
BOTTOM LINE: Equifax’s Small Business Credit Report puts critical financial data into the hands of organizations so that they fully understand the risks associated with a particular business. On the flip side, the report gives an organization an overall view of its own financial health and details about what lenders and other entities have reported about it.
SUMMARY: For organizations who wish to have a strong understanding of their financial health and credit score, Equifax Small Business Credit Report is a wise investment. Available as both a single report or in a pack of five at a discounted cost, the Small Business Credit Report is a must have before entering into an agreement with a new supplier, customer, or other organization.
Equifax Small Business Credit Report
What Does Equifax Small Business Credit Report Do?
Small Business Credit Report is just one of the solutions in Equifax’s suite of corporate offerings. This product, which can be purchased singly or in a block of five, offers insight into an organization’s financial health by providing data that empowers organizations to make the right decisions for their businesses. Information from the basic (company name, executive names) to in-depth financials (number of liens, risk scores) can be gleaned from Small Business Credit Report.
Overall, the financial planning information provided by Equifax’s Small Business Credit Report can determine if an organization should or should not do business with another organization.
Having as much information as possible before making a decision is always in a company’s best interest. Equifax, the oldest of the three credit reporting agencies in America, provides comprehensive data, technology, and services to companies worldwide. It has analyzed data on more than 91 million businesses throughout the world and employees have contributed information on more than 7,100 employers. Thus, Equifax is well-known and considered an expert in the field of credit reporting.
Being a successful business involves smart thinking. You’d never dip your business toe into shark-infested waters without fully researching potential vendors, suppliers, or partners. Equifax does a lot of the work for you by providing business credit reports so that you can best evaluate the financial health of other organizations.
Small Business Credit Report provides an assortment of details, including, but not limited to, a company’s profile (i.e. headquarters address, phone number); credit summary (a synopsis of credit accounts with banks and suppliers); public records (i.e. judgments, bankruptcies, and liens); risk scores; payment trend and index over 12 months as compared to the industry norm; and other data (i.e. alternate business name, owner, and guarantor names). These key details can help you determine immediately if a potential customer is trustworthy and pays bills on time.
Business credit reports will also prove beneficial to your organization in other ways. Run a credit report on your own business and you’ll better understand the company’s credit activity and whether or not a bank would approve you for a loan. This can help a business have a firm grip on its financial health and possibly prevent something drastic — like bankruptcy — from taking place. Plus, your company can see exactly how other organizations view it. Running an Equifax credit report on your own business lays out all the information that has been reported by lenders, suppliers, and service providers about your company. You might be unexpectedly surprised to see what your company’s credit score actually is.
- Critical Data: Get the information you need before making an important business decision. This report will uncover information on a variety of areas regarding your company or other companies that may assist in making crucial business decisions.
- Sample Offering: Before you invest the money to run a credit report on a particular business, a simple search on Equifax’s website determines if that company is in its system. Equifax even shows you a sample report before you purchase so that you know exactly what information your credit report will display.
There are a number of companies that offer credit reporting for a fee. Among them are the two main Equifax competitors, Experian and Dun & Bradstreet. Many of the other credit reporting companies claim to provide their services at lower prices, while some even offer the first report at no charge. However, Experian is a well-known and trusted source, so you know you’ll be receiving reliable info for the price you’re paying.
User Skill/Experience Required
There’s no great skill level needed to use Equifax Small Business Single Report. An individual or company can simply visit the Equifax website and make the purchase. Once the fee is paid, the credit report(s) will become immediately available for download.
Pricing & Where to Buy Equifax Small Business Credit Report
Customers may order a single business credit report at a price of $99.95. If more than one credit report will (eventually) be used, it makes sense to order Equifax’s multi-pack of business credit reports which costs $399.95 for five (a $99.95 discount — you get one free!). Click here to visit Equifax’s official site to learn more and/or purchase your report(s) today.