presented by: mary ann strout experian business information services · 2018-05-13 · • business...
TRANSCRIPT
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Presented by: Mary Ann Strout Experian Business Information Services
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Mary Ann Strout Sr. Product Manager, Business Direct Experian Business Information Services » Joined Experian in 2003 » Markets business credit reports and
monitoring services to Small Businesses and Owners
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• Business credit can help grow your business • Sound payment practices are key to a solid
business credit profile • Separating business credit and personal
credit can greatly mitigate your risk • There are 4 keys to building business credit • Credit applications can be made easier by
following a few simple steps
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• It starts with the way you pay – Polling question
• It’s important to maintain a business credit profile that is distinctly separate from your personal credit profile
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• Your credit bureau report is at the heart of building business credit
• Credit data is collected from a wide range of sources – State filing offices – Public records – Credit card companies – Collection agencies – Corporate financial information – Marketing databases
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• Business credit reports serve two primary purposes: 1. Helps your company more easily gain access to the credit it
needs at better terms 2. Can help you understand more about the companies with
which you do business
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• Here are some guidelines: Borrow and pay on time Be visible (i.e., ensure that your good behavior is
reported) Monitor your company’s profile Check and correct outdated information Be alerted of important changes or potential fraud
perpetrated in your company’s name Act like a business Establish accounts in your business name, not your
personal name
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• Consider the following before you complete a credit application: Evaluate your own business credit
Trade payment history Credit balances Track record Red flags
Get good references How long they have done business with your company? What is the maximum credit line they’ve extended to your business? How long does your company typically take to pay an invoice? Have there been times when your company hasn’t been able to pay
on time? Fill out the form completely
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• Four key criteria used when evaluating a business’s creditworthiness: 1. Character 2. Collateral 3. Condition 4. Capacity
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• Grow your business with good credit practices – Maintain a distinctly separate business credit
profile – Stay current on payments to creditors – Ensure that your good payment history is
reported to the credit bureaus – Monitor your business credit profile to detect
issues or fraud – Use business credit reports to limit your risk of
doing business with others
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Resources: • www.Experian.com/BusinessCreditReport • www.SmartBusinessReports.com • www.BusinessCreditFacts.com
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• Thank you – Email: [email protected] – Today’s participants will receive an access code to
download a complimentary business credit report
• Connect with Experian – Twitter handle: @experian_b2b – Facebook page:
https://www.facebook.com/ExperianBusinessCredit – Blog post: http://www.experian.com/blogs/business-credit/