Our own Pam Ogden penned an article for the current edition of CRF News highlighting the anatomy of a modern small business credit system.
Business Credit Reports was made for small business. BCR was founded in 1989 with the idea that small businesses should have access to the same powerful information as corporate credit managers. The objective was to make this potent information easy, accessible and affordable for small businesses to use.
Credit managers seeking to make faster credit decisions have a new tool that gives them the ability to clone themselves. Decision Assistant is a new analytic tool from Business Credit Reports that provides customizable credit decisions instantly online.
Making credit decisions without third-party credit information is risky. However, many businesses, particularly smaller companies, have thin credit records or no credit record at all in the databases of the major business credit bureaus.
Businesses can be sued for a myriad of reasons, both legitimate and frivolous. The suits can come from customers, vendors, landlords, employees, competitors or others affected by the actions of the business. The impact of a suit on a business can cost the company significantly in both time and money, even if the lawsuit does not result in a judgment. This cost is bound to impact the company’s ability to pay its bills promptly.
Since 1989, BCR has been a leading innovator in business credit. Now, we are delivering another innovation, the ability to get credit reports on your customers at no cost to you.
We have formally announced the launch of our new innovative multi-bureau business credit reports and new platform!
Business credit scores come in a variety of flavors from many different sources. All of the big business credit bureaus – Experian, Dun & Bradstreet and Equifax – provide complex statistical models designed to predict how a customer is likely to pay you in the future. There are even industry-specific scores for many industries.
So far, 2015 has been a busy year for product development and enhancement at BCR. Over the past few months, we have brought you the following enhancements to our product line.
Holtmeyer and Monson, a company that helps community banks, credit unions and other lenders offer small businesses access to capital through SBA loan programs has partnered with Business Credit Reports to enable their clients to report their SBA loans to the credit bureaus.