Dun
& Bradstreet is the primary company used to evaluate
business credit and issue a credit score known
as Paydex. There
are also other companies that provide similar credit
evaluation services to businesses based on their
independent databases. One
of them is Equifax who offers a business scoring
credit model knows as Equifax Small Business
Enterprise/ Equifax Small Business Credit
Risk
Score. Equifax,
one of the three major consumer credit
rating
bureaus, is now providing business credit evaluations
for over 22,000,000 small businesses and
corporations to detect early signs of trouble by monitoring
key customers, suppliers & partners.
Equifax’s
model is designed for companies that provide
goods and services to small businesses. The
score was created to enhance risk assessment throughout
the account life cycle by predicting the probability
of a new or existing small business customer becoming
seriously delinquent on supplier accounts,
or bankrupt, within a 12 month period. Credit
scores range from 101-816 with a lower score
indicating
a higher risk for serious delinquency. There
are also four reason codes which indicate top factors
that impact the credit score for a better understanding
of risk. Equifax
does provide both consumer and business credit
risk models, but there are considerable differences
between the two.
Contact
me today to start the process of establishing
your Equifax score and getting approved
for $50,000 in business credit this year with
no personal guarantee and regardless of your personal
credit quality.
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