How to Open a Business Credit File

Business

A business credit file describes the information that a business credit reporting agency maintains about your company in its database. And although the two are closely related, a business credit file isn’t the same as a business credit report. 

Your business credit file may contain a number of important details including:

  • Identifying information about your company
  • Vendor trade references in your company’s name (once you establish them) 
  • Information about vendor trade references, such as payment history, balance, and more 
  • Financial tradelines, such as business loans, leases, and credit cards
  • Public record information such as liens, judgments, and bankruptcies
  • Your business credit scores 

A business credit reporting agency can use the details from your business credit file to create a commercial credit report. 

Then other businesses (i.e., business lenders, suppliers, insurance providers, etc.) can purchase copies of your business credit report and use that information to evaluate your business’ creditworthiness and risk. 

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