What Are the Important Parts of a Free Business Credit Report?

Published on: 08 May 2018 Last Updated on: 09 August 2019

Did you know that small businesses make up 99% of employer firms in the U.S.? Small businesses are an important part of the economy.

Everyone knows it’s important to have a good personal credit rating. But, did you know that it’s also important for your business to have good credit?

If you own a small business, read on to learn how you can get a free business credit report and why it’s important.

Why is Good Credit Important?

If you’ve ever applied for a home or auto loan, you know that good personal credit is important. If you don’t have credit, it’s difficult to get a loan.

No credit doesn’t always mean you have bad credit. It means you haven’t established a credit record.

If you’ve handled credit poorly, then you have bad credit, and you might not get be able to get a loan.

Lenders check your credit score to ensure your ability to pay back your loan. It’s critical to build and maintain a good business credit rating.

How to Build Credit :

Not everyone carries a credit card, but it helps to have one if you want to build your credit score.

Too often, college-age kids get one or more credit cards and find themselves in debt and are unable to pay it back.

It’s important not to overuse a credit card.

Credit cards charge high interest on the money they loan. It’s okay to buy things with a credit card, but make sure you pay the entire loan off monthly as much as possible.

If you don’t pay the entire loan monthly, the interest you pay adds a significant amount of money to the cost of your purchase.

Unfortunately, if you don’t use a credit card, it’s harder to build credit.

In addition to paying your entire credit card balance on a regular basis, be sure and pay all your other bills on time as well.

Late charges aren’t the only problem you’ll have if you pay your bills late. Late fees also hit your credit report and lower your score.

There are other ways to help build your credit as well.

Getting a Free Business Credit Report :

It’s important to know how to check your free business credit report and to understand what it contains.

According to the law, it’s possible to get your personal credit report for free on an annual basis.

The law doesn’t say a business credit report has to be free on an annual basis. But, it’s possible to get a free business credit report. Here are a few ways:

CreditSignal :

Dun & Bradstreet offers a free business credit report at CreditSignal.com. This is a great place to get your business credit report because it also has a learning center.

It’s an easy service to use, and it comes with a mobile app that’ll alert you to changes in your Dun & Bradstreet credit score. The service gives you fundamental information about your score.

To get the full service, you’ll need to get the paid subscription.

Try Nav :

Nav.com is another service where you can find your personal and business credit scores for free.

While CreditSignal only tells you about your Dun & Bradstreet score, Nav offers information regarding your Dun & Bradstreet and Experian score.

Free Trial Demos :

You can also get a free business credit score if you want to sign up for a free trial from companies such as Credit.net, CreditSafe.com or Scorely.com. Remember that once the free trial is over, you’ll be charged for a subscription.

What Does It All Mean?

Now that you have your free business credit report, what does it all mean?

When checking your personal FICO score, look for a number between 300 and 850. The higher the score, the better your credit rating.

Don’t panic when you check your business credit score and the number is under 100! Unlike the FICO, business scores range from zero to 100.

Business credit reports are confusing because they’re not all calculated the same way.

The Big Three :

There are three major companies where you can check your business credit. These are Dun & Bradstreet, Experian, and Equifax.

Dun & Bradstreet calculates your credit score based on information from partner companies or payment info reported to directly to them. They use a Paydex score that ranges from zero to 100.

You’ll need to file through the Dun & Bradstreet website to obtain a DUNS number before you can get your score. Your report will show you creditworthiness, payment history and trends, and public filings.

Experian offers a business credit score between zero and 100, as well as a financial stability risk rating. You’ll also see a credit summary and payment trend summary. The payment trends are thorough, including monthly and quarterly trends.

If your company has any judgments are liens filed against it, these will also show on the Experian summary.

Equifax also uses the zero to 100 score. But, you’ll also see a business credit risk score that ranges from 101 to 992. This score determines the likelihood that your company will fall behind on payments.

With all three of the large credit bureaus, the credit summary is easy to read and self-explanatory.

It’s important to pay close attention to everything in the report so that you can correct any incorrect items that could hurt your credit.

Obtaining a Loan :

One of the most important reasons to maintain good business credit is so you can obtain a small business loan. Whenever you open a line of credit, such as a credit card, there’s a hard hit to your credit report.

This means that applying for any sort of loan is actually bad for your credit score!

This is one more reason to make sure you maintain good credit, in case you’re in need of a loan to purchase necessary company equipment.

It’s sometimes possible to obtain a small business loan without a hard hit to your credit. Read more now to learn about one of these loans.

Learn More About Business and Finance :

Business can be complicated, but don’t let the details scare you. Work on building and maintaining good credit to help with your personal and business finances.

Looking for more great articles on business and finance? Take a look at our many resources here.

Read Also :

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Developing An Effective Preventive Maintenance Program: Key Steps And Considerations

In today's industrial landscape, the role of preventive maintenance is often underestimated. Yet, a robust preventive maintenance program is vital to the overall productivity and efficiency of any plant or facility. It ensures equipment reliability and reduces the chance of costly downtime due to unexpected breakdowns. This article sheds light on the steps and considerations in developing an effective preventive maintenance program. So, read on! Understanding Preventive Maintenance Preventive maintenance can be seen as the cornerstone of maintenance management. It is the routine, scheduled maintenance of equipment to prevent potential failures before they occur. This practice leads to several significant benefits: Reduces sudden equipment breakdowns: Regular inspections and maintenance tasks enable you to identify and fix issues before they escalate to more serious problems. For instance, replacing worn-out parts during a scheduled service prevents more severe damage. Increases equipment longevity: By keeping the equipment in optimal condition, preventive maintenance extends the life of your machines. This means fewer replacements and lower investment in new equipment. Improves plant efficiency: With less unexpected downtime, your plant operations run more smoothly, improving the overall efficiency of your operations. Key Elements of a Preventive Maintenance Program Creating a preventive maintenance program involves several key elements. Understanding these components helps build a solid foundation for your program: Maintenance Management: Effective planning and scheduling are crucial in maintenance management. It ensures that maintenance tasks are organized and completed in a timely manner. For example, scheduling a maintenance check when the equipment is idle can prevent production interruptions. Maintenance of Equipment: Each piece of equipment requires different maintenance procedures. Understanding these specifics is vital to maintain the equipment's functionality. In a food processing plant, for example, certain machines might need daily cleaning, while others might require weekly lubrication. Plant Maintenance: Preventive maintenance should be a plant-wide strategy. This includes not only production equipment but also HVAC systems, power supplies, and even safety equipment. A holistic approach to plant maintenance ensures that all aspects of your facility are running efficiently. Steps in Developing a Preventive Maintenance Program A preventive maintenance program requires several phases. An overview: Identification of Equipment: The first step in developing a preventive maintenance program is identifying which machines require regular maintenance. This could range from complex production machinery to simple office equipment. Scheduling and Planning: This involves creating a maintenance schedule for each piece of equipment. For instance, certain machines may require weekly maintenance, while others need it quarterly. Proper scheduling minimizes disruptions to production processes. Executing Maintenance Tasks: After scheduling, do maintenance chores. Lubricating and replacing worn parts are examples. Tracking and Analysis: Lastly, it's important to keep track of all maintenance activities and periodically review the effectiveness of your preventive maintenance program. This could involve updating a maintenance log or using maintenance management software. Role of Reliability Assessment in Preventive Maintenance An essential aspect of a preventive maintenance program that is often overlooked is reliability assessment. In a well-managed maintenance environment, equipment reliability can make a significant difference in plant operations. A thorough reliability assessment can serve as a proactive measure to identify potential issues, ensuring optimal performance and minimizing unexpected breakdowns. Predictive analysis: Predictive analysis is a one-way reliability assessment that can be carried out. For example, by monitoring vibrations in a machine, anomalies that might indicate a future failure can be detected. By addressing these anomalies in advance, equipment downtime can be minimized, and the machine's reliability is enhanced. Regular equipment inspection: Regular inspection is another facet of reliability assessment. For instance, an operator might notice unusual noises from a piece of equipment. If left unchecked, this could lead to a catastrophic failure. However, noting this in a reliability assessment could lead to early intervention, boosting equipment reliability. Maintenance history review: Reviewing the maintenance history of equipment can provide insights into its reliability. Suppose a machine frequently requires a specific type of repair. This may signal a problem that has to be fixed to improve equipment reliability. For instance, frequent conveyor belt alignment modifications may indicate installation or operation difficulties. By integrating reliability assessment into your preventive maintenance program, you can make more informed decisions about maintenance planning and scheduling, ultimately improving equipment reliability and reducing operational disruptions. The Importance of Training and Communication in a Preventive Maintenance Program In the context of preventive maintenance, the importance of clear communication and comprehensive training cannot be overstated. An informed and trained maintenance team can perform tasks more effectively, minimizing the risk of errors or oversights that could compromise equipment reliability. This enhances industrial efficiency and safety. Training on Equipment Maintenance: Equipment-specific maintenance training should be delivered regularly. For example, if a new high-speed packaging machine is introduced, the maintenance team needs to be familiarized with its components, operational principles, and common issues that may require preventive maintenance. This enables them to identify potential problems early and conduct maintenance tasks accurately. Communication about Maintenance Schedules: A well-coordinated preventive maintenance program requires clear and regular communication about maintenance schedules. For instance, if a vital production line is due for a maintenance shutdown, all relevant parties, from production to logistics, need to be informed in advance. This facilitates smooth operation with minimal disruption to the overall workflow. Feedback Mechanisms: Open channels for feedback are also crucial. Maintenance personnel, being on the front line, often have valuable insights into potential issues or improvements. For instance, a technician might notice that a certain piece of equipment tends to fail more often just before scheduled maintenance, suggesting the need for more frequent servicing. Capturing and acting on such feedback can significantly enhance the effectiveness of the preventive maintenance program. By prioritizing training and communication, you can ensure your preventive maintenance program is not just a process, but a culture, where everyone understands their role and contributes to the program's success. Final Thoughts In summary, an effective preventive maintenance program plays a critical role in enhancing equipment reliability and plant efficiency. By implementing a systematic approach to maintenance management, scheduling, and execution, organizations can significantly reduce unexpected breakdowns and extend the life of their equipment. It is a strategic investment that pays off in the long run, promoting smoother operations and a healthier bottom line. Read Also: Travel To Birmingham And Explore Second Largest City in The UK Is Major Banks A Good Career Path In 2021? Is Steel/Iron Ore A Good Career Path In 2021?

5 Best Types of Paper to Use for Business Cards

Business cards are an excellent way for entrepreneurs to introduce their enterprises and providing their contact information as well. Business cards are often the first impression that a potential customer will get about a business. It should, therefore, convey a sense of professionalism and quality and pay attention to details as well. The quality of a business card starts with the paper stock that a business owner chooses to use for the card. These are top five paper stocks that businesses often use for making their business cards. Different Types Of Paper You Must Use For Your Business Cards 1. Matte Stock: These paper stocks are often used for cards with smooth, non-shiny finishes. Though commonly found in tans, beiges, creams, and white, matte stocks are available in a variety of colors to meet the needs of every business. However, those using matte stock color tones should be aware that their lettering may be less crisp than those printed on business cards with a neutral tone. Matte stock cards are always clean and grant the holder the ability to write on the card in case their telephone number or name needs to be added or changed. Sometimes people refer matte stocks as dull stocks depending on the printing company and manufacturer. Matte paper prints are bright enough and give a neat finish to a business card. When you are selecting any business card printing online first ask for the samples. Then finalize your decision. 2. Card Stock: Card stock is the correct term that people often use when referring to different types of papers used for making business cards. However, some printing companies and manufacturers call their paper prints cover stock. The weight of a card stock ranges between 80 to 110 pounds, but this depends on its intended purpose and the target audience. These cards are sturdy enough and designed to withstand excessing handling, which is crucial for a name or business card. A lower paperweight creates flimsier cards while higher paperweights are used for making more rigid business cards. A heavyweight paper card cost more than a lighter weight card stock. Due to their heavyweight, business cards made with stiff card stocks can last longer than those made with lightweight paper prints. The type of card stock ranging from textured to photo, glossy, and matte also determines how durable and useful a business card will be. Business cards are made with specific kind of papers to make the cards formal and professional. Card stocks are among the best and most frequently used paper prints for printing business cards. These characteristics make card stock the perfect business and name cards printing paper. 3. Photo Cards: Companies use photo card stocks when they want their business cards to have a photo quality finish. These card stocks are often used by actors, real estate agents, and models. These paper prints are the equivalent of photographs and are available in a range of versatility for enterprises interested in a more sophisticated impression. You can use photo card stocks for both double-sided and single-sided name and business cards in full color. 4. Glossy Stocks: Glossy stocks are a popular choice in making name and business cards. These paper prints are the best for double-sided printing and bright colors and come with an aqueous coating that aids in creating a shiny finish. Glossy stocks are available in a broad spectrum of colors to offer business owners more options for their business cards. Companies using glossy stocks for printing their business cards can incorporate multiple images with almost the same photographic quality or place a photo in the background. The longevity of the card is one of the advantages of using glossy stocks for your business cards. Due to their aqueous coating, business cards made with glossy stocks can withstand tearing and water damage. The only disadvantage of using glossy stocks for professional business cards is the inability to write on the card in case the contact information gets altered. However, it is an ideal paper print that any company can use for making its business cards. Its aqueous coating is suitable for double-sided printing, and companies can use the card for dazzling colors and creating a glittering finish. Glossy cards are available in a variety of colors to give the cardholder limitless color options. It is the best choice for any business interested in printing a photo on their name or business card. It also works well for any company seeking just a glossy card or a card with a shiny logo and finish. 5. Textured Card Stocks: These card stocks come in either glossy or matte stocks form. However, these card stocks have a pattern pressed into their surface to create a feel such as dots, basket-weave, and hounds-tooth. These card stocks are available in a broad spectrum of colors, and their users are companies and organizations seeking a physical dimension to their name or business cards. These card stocks are the perfect option for single-sided business cards. The advantages of textured matte stocks are almost similar to those of standard matte stocks except that they allow business owners to print both sides of their business cards. A double-sided business card can sometimes leave a potential client confused, especially if the details aren’t clear enough. Textured stock cards are a perfect option for a business seeking to make its cards unique and stand out from the rest. Textured stock cards appeal to the touch, and when a business owner hands them over to a client, they can be sure of repeat purchases. Always remember that you are choosing what sort of impact your brand has on the environment and not what clients feel or see about it when choosing a business card paper. That’s why business card printers including JoinPrint AU are using recycled papers to create eco-friendly business cards. You are sending a message to your clients when you decide to hand over business cards to both your existing and potential clients. Of course, every business owner would want to use their business cards to express how concerned they are about things such as preserving the environment, and that’s why everyone is going for cards made with recycled papers.

Fred Loya Insurance Company

The Fred Loya Insurance is known for providing pioneer safety and general car insurance services since 1947. Actually, situated in Texas, the organization serves in more than 10 locations all over the world. Striving to ensure steadfast communication and legal matters, the group is dedicated to provide best insurance services in lowest possible rates. Furthermore, Loya Insurance Company understands the value of safety amongst your family while you are on road for which you can select any plan from our affordable insurance policies. To learn more about our current insurance plans and future endeavors, you must read this article in detail. Our Services Loya Insurance Group is concerned to give its customers a hassle-free insurance policy as all of the necessary legal matters are handled by our experts. Having more than 5,200 professional employees in our 700 hundred offices, there is certainly no matter which cannot be addressed properly. Furthermore, our trusted professionals have years of experience in the relevant field and are available for your support 24/7. So, if you are in search of an easy yet effective insurance plan for your family, please do not hesitate to avail an instant free quote. Our professional car insurance agents can also prepare a customized policy to satisfy your needs and lower the expenditure needed to complete the process so that you do not get into any future problems. Most importantly, all of the policies and plans are conducted according to the state laws at Loya Insurance Company so that you can keep your family safe on road. Simple yet effective policies Furthermore, there is no requirement of your past credit history or driving records. Once you have settled with our agreement, our trained professionals will provide your best consultation. In case you are not able to visit our office, a quick auto insurance quote can also be availed through our website. There are several discounted plans for our valued customers. Just decide the coverage plan for yourself and avail instant reductions from our staff. Fred Loya Insurance locations are widespread as the company is currently operating in Arizona, Alabama, Colorado, California, Illinois, Georgia, New Mexico, Missouri, Ohio, Texan and Nevada. In case you are not able to find an office nearby, the location finder at our website can greatly help you in this regard. Instant Claims Loya Insurance Company features a huge number of dedicated professionals to assist you in the best possible manner. You can immediately contact at our emergency response numbers to file your claim by providing some essential information and your problem will be addressed as soon as possible. As customer service is our main aim, we make sure all of the liabilities and claims are handled with immediate effect. After all of the relevant investigation is completed, the final decision will be based on police reports, witness statements, scene photos, and traffic laws. Read also: Top 4 Creative Team Building Ideas For A Call Center Industry Moreover, you can also make online payments from our website by providing your policy number and relevant contact details to make your insurance plan functional. For further problems related to payment and fines, you can visit our office personally or contact our officials through the customer service helpline. Loya Insurance Company is striving to ensure ultimate general car insurance policies for its valued customers. With the lowest insurance policy rates and 100 percent claim ratio, there is surely no better safety plan available for you and your family. Furthermore, Fred Loya Insurance Locations are widespread from where you can avail every necessary information regarding the legal and recovery aspects for your insurance policy. Being a family-owned and operated insurance company, the Loya Insurance group brings you the most comprehensive and complete insurance plans to save your hard-earned money. Read also: How Industry-Specific Loans Can Support Your Business

What Are the Important Parts of a Free Business Credit Report?

Why is Good Credit Important?

How to Build Credit :

Getting a Free Business Credit Report :

CreditSignal :

Try Nav :

Free Trial Demos :

What Does It All Mean?

The Big Three :

Obtaining a Loan :

Learn More About Business and Finance :

The Importance of Writing Business Reports in College

Advantages and Disadvantages of Coupon Codes in Your Business

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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Related

Developing An Effective Preventive Maintenance Program: Key Steps And Considerations

5 Best Types of Paper to Use for Business Cards

Fred Loya Insurance Company

What Are the Important Parts of a Free Business Credit Report?

Why is Good Credit Important?

How to Build Credit :

Getting a Free Business Credit Report :

CreditSignal :

Try Nav :

Free Trial Demos :

What Does It All Mean?

The Big Three :

Obtaining a Loan :

Learn More About Business and Finance :

Share this Article

The Importance of Writing Business Reports in College

Advantages and Disadvantages of Coupon Codes in Your Business

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related