Before lending money to a new business house you need to check on their business credit reports. This is very important as you do not have any details of a borrower and you should know a little about them. So you should run a background check of a new client always. You never know what exactly are the intentions of a client? You will be lending money or dealing with such companies who are willing to pay you back the amount they have borrowed from you!
There are three major names which will give you a unified and unbiased business credit report. Experian, Dun & Bradstreet and Equifax are some of the common names that take care of credit for business as well. The way these companies show their authority regarding your personal credit, the same way they have full power of taking charge of generating credit reports of business houses.
Experian is a credit bureau which works in association with Small Business Financial Exchange (SBFE). They not only keep track of credit scores but also offer loans to small business houses through SBFE. Apart from this it also provides services of running a credit check on a business, monitoring business, gives a spontaneous analysis of a business and also an all-inclusive overview of a business.
Dun & Bradstreet is an esteemed organization which looks into generating a business credit report if any business, it gives you an evaluation of a business and a total analysis of a business by which you can get a clear idea of another business house.
Equifax is another name that is works as a sorority with SBFE. It also generates credit reports of business houses, scrutinizes a business and gives all the information in details regarding another business house. All these credit bureaus also have system to lend money to a business house and help them especially small business houses by organizing their business.
The reason why you need to work with these credit bureaus is that they provides a standard information about a business you may be working with. Then you can take your call about whether or not should you lend money to them. Then you get professional help to do this. This reduces the risk of your business being hit.
Above all this you need keep one thing on your mind that you can take professional help for certain things. These are mandatory things that you cannot deny and it is recommended that you seek a professional's advice about monetary matters. This will save you from a lot of hassle and you will be able to breathe in peace. Hence business credit reports are something that this very important for any creditor for their own security.