How to Check Your Business Credit Score

As a business owner, your organization’s credit score plays a critical role in determining your financial reputation. Whether you’re applying for a business credit card, securing a loan, or negotiating vendor terms, your score can significantly impact the outcome.

But if you're wondering how to keep tabs on your credit score, this guide is for you. Below, we’ll explain what your business credit score is, why it matters, and how to check it easily (and in some cases, at no cost).

What Is a Business Credit Score?

Your business credit score is a numerical representation of your company’s creditworthiness. It’s similar to a personal credit score but is tied to your business’s Employer Identification Number (EIN) instead of your personal Social Security number.

Key Factors That Influence Your Score:

The elements that influence your score are similar to those that affect your personal score, however there are some additional factors when it comes to business credit. 

• Payment history: On-time payments improve your score.
• Credit utilization: Using less of your available credit is favorable.
• Business longevity: Older businesses generally score better.
• Public records: Bankruptcies, liens, or judgments negatively impact your score.
• Company size and industry risk: These factors can also weigh in.

Why Business Credit Scores Matter

Understanding your score can help you:

• Secure better financing: Lenders use your score to assess your loan eligibility.
• Negotiate better terms: Vendors may offer better payment terms or discounts for higher scores.
• Lower insurance premiums: Some providers use credit scores to determine rates.
• Separate personal and business credit: Establishing business credit protects your personal score and liability.

Where to Check Your Business Credit Score

There’s no single, centralized score like there is for individuals. Instead, several major credit bureaus generate business credit scores, each using its own methods.

How to Check Your Business Credit Score for Free

If you’ve ever attempted to check your business credit score in the past, you may have been surprised to find that not all credit checks are free. However, there are some cost-free options available:

Free Options:

• Nav: Offers free summaries of your business credit reports from Dun & Bradstreet and Experian.
• CreditSignal® (by Dun & Bradstreet): Provides free alerts when your score changes.

These platforms usually offer limited insights for free but will often charge for full reports and scores.

Step-by-Step: How to Check Your Business Credit

Here’s a quick step-by-step guide for checking your score:

1. Register your business: Make sure your business is officially registered and has an EIN.
2. Open accounts in your business’s name: Use a business bank account and apply for business credit cards.
3. Choose a credit bureau or platform: Use one of the tools mentioned above like Nav or CreditSignal.
4. Verify your business identity: You’ll usually need your business name, address, and EIN.
5. Review your report: Look for errors, late payments, or outdated info that could be affecting your score.
6. Dispute inaccuracies: Contact the credit bureau directly to correct any mistakes.

How to Improve a Low Business Credit Score

If your score isn’t where you want it to be, don’t worry. There are a number of ways you can rebuild or improve it.

Tips to Boost Your Score:

• Pay vendors and creditors early or on time.
• Reduce your credit utilization.
• Avoid frequent credit inquiries.
• Establish trade lines with suppliers.
• Keep your business and personal credit separate.
• Regularly monitor your report for changes or errors.

Final Thoughts

Your business credit score isn’t just a number — it’s a tool that can open (or close) doors. Whether you're planning to grow your business or simply want to be prepared for future opportunities, checking and monitoring your business credit score is essential.

By following the steps in this guide, you’ll not only understand how to check your business credit score, but you’ll also be equipped to take action and keep your business financially healthy.

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