Posted by employloan on August 06, 2010 at 08:36:47:
A business news needs access to credit for two reasons. First, credit allows a small business to get a loan or line of credit from a financial institution. Second, credit can let a small business buy the necessary supplies and goods. No matter why you need credit, it is giving you something of value in return for a promise of repaying all the cash in the future.
So who provides credit to a small business? A relative will often help, but what about the bank in town or a supplier that is separated by a continent? How can someone who doesn't know you and has never met you determine your creditworthiness?
These companies would do exactly what you would do: they go to a reputable credit risk management agency in order to get a credit report. Through a comprehensive small business credit report, these companies can learn about all aspects of your business including your financial condition, credit history, top management and other important inform