The Data Behind Business Credit Reports

Aug 31, 2022 | Blogs

For most companies, extending business credit to customers is a calculated risk. The decision comes with a host of questions: Should we extend credit to this customer? If so, how much? Will the customer be able to repay their debt – and when should we expect to be repaid?

To assist in the process, companies often rely on business credit reports, which reflect how well business customers handle their financial obligations. Much like a personal credit report, a business credit report includes details about payment history, the number and age of accounts, and the percentage of credit available.

To make informed business decisions about whether or not to extend credit, companies need accurate and timely reports. At Xactus, we provide business credit reports that include verified credit data which means it is not self-reported or reported by the actual company. So how and where do we get our verified credit data?

Xactus is a certified reseller of Equifax and Experian, which acquire information from thousands of data sources. Both Experian and Equifax are original source compilers, building their databases from the ground up and relying on decades of experience in sourcing, compiling and maintaining diverse data.

The data provided is distinguished by several key factors:

  • Large commercial databases. The data is from some of the largest commercial collections databases in the country.
  • Millions of updates daily. Data is received and updated every day, ensuring that business credit reports are populated with the freshest data available.
  • Only collects third-party verified information. Self-reported data is not allowed, reducing the potential for fraud and misrepresentation.
  • Variety of data sources. Information is provided from a wide range of sources, including corporate record filings, public licensing or registrations, utility information, bank loan and credit line data, leasing data and more.*
  • Blending of business and consumer data. The business owner’s consumer credit report information can be combined with the business’s data to provide a more comprehensive financial picture for the credit issuer.
  • Complete financial picture for small businesses. While small businesses make up over 90% of all companies, it’s often difficult to obtain information related to their credit. We offer extensive small business coverage and can provide consumer data on business owners from a single source, offering unprecedented visibility into key stakeholders’ financial history.

Xactus offers business credit reports containing accurate, up-to-date information lenders and companies can trust. For more information about our business credit reports, contact your Xactus strategic account manager.

*Equifax and Experian adhere to all applicable laws and regulations governing the use of such data.

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