How You CAN Get A Free Business Credit Report For Your Business
Getting a free business credit report is much harder then getting personal free credit reports. I will provide an easy guide that will allow you to get your business credit report so you can clean bad credit.
Since most small businesses do not receive payment for their products or services till after they are delivered, they must finance these up front. Therefore bad credit can be detrimental to a small business. Follow these simple steps to get a free business credit report.
The first step; using your business name apply for a loan or credit card. You need a denial to finish these steps so try for a loan you believe you will not receive. Try one that says they will give instant decisions so the decision is received right away. If you already have a recent denial, that will work for getting your free business credit report.
The second step; waiting for them to turn you down, unless you already have a letter of denial. This will tell you the credit agency they used for their decision.
The third step; send a letter requesting your business credit report along with the letter of denial to this agency.
The forth step; wait for the arrival of your free business credit report, this should arrive in thirty days.
Now that you have your free business credit report, let’s look at some ways to clean up your company’s bad credit.
Making your payments on time is very important. If you are going to be late be proactive, contact your creditor right away before the due date. If you have made timely payments in the past most creditors will be willing to work with you in setting up a new schedule for your payments or extending your due date. Sometimes this will include additional charges and or higher interest rates. Most companies will continue to work with you if you can adhere to these new terms.
Now let’s look at your free business credit report and see if we can clean bad credit contained within it. If you find any errors, duplicates or unsolicited inquiries you can improve your credit by cleaning these from your report. Circle or highlight each one and write letters of explanation for eac. Send these along with any supporting information you have to back your claim to the credit agency and wait 30 days for the reply.
By making your payments on time, being proactive if you are going to be late and cleaning errors from your report you can improve your credit using your free business credit report you now have.
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