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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reported) Monitor your company’s profile Check and correct outdated information Be alerted of important changes or potential fraud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: maryann.strout@experian.com – 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/