How To Set Up Your Creditsafe Business Credit Report

Creditsafe Business Credit Report.

How well do you know your customers, suppliers, competitors, and potential customers? Do you trust your current credit-checking-process to protect your business from bad debt and outstanding invoices? Creditsafe can help reduce your credit exposure by showing you the credit worthiness of the businesses you deal with anywhere in the world. Whether you’re extending credit to a business, offering a lease, or looking to improve the terms you receive on your contracts, Creditsafe Business Credit Reports are designed to help you make informed decisions at a glance.

Get answers to key questions like:

  • How likely is a company to go bankrupt in the next 12 months?

  • How much credit can I feel comfortable offering a company?

  • Is a company likely to pay me on-time?

  • Has anything changed that could affect my customers&' ability to pay?

What goes into a Creditsafe Business Credit Report?

Scores & Limits
Creditsafe's industry leading scoring system includes key statistical metrics and the most advanced statistical techniques to help determine the financial stability of a company. The scores and limits you see within a report are designed to help you make quick and accurate decisions. With Creditsafe’s scoring model, they can predict 70% of company insolvencies 12 months in advance—saving you the financial worry that bad debt brings.

Utilizing the latest advanced statistical techniques, Creditsafe Credit Score combines key variables such as: trade payment information, utility, telecom and ISP payment information, public information, industry sector analysis, and other performance indicators. The Creditsafe Credit Score is a number from 0 to 100 scale which directly correlates to a relational level of risk. A higher score indicates a lower the risk of default or bankruptcy while a lower score identifies higher risk of default or bankruptcy. To allow quick decision-making, Creditsafe has color-coded the scores by severity in which red indicates high-risk and green indicates low risk. Created by Creditsafe’s in-house analytics division, the Creditsafe Credit Score is a statistically backed model using key data variables proven to have an impact when a business fails.

  • Credit Score
    The Creditsafe Credit Score works on a scale of 1-100 and predicts the likelihood that a company's payment performance will become seriously delinquent, defined as 90 plus days beyond terms within the next 12 months or that the business will go bankrupt.

  • Days Beyond Terms (DBT)
    Creditsafe's trade payment analysis that highlights how many days late a company pays their bills and how it compares to their industry.

  • Payment Trend
    Easily understand at a glance if there are any substantial changes in how they’re paying their bills.

  • Inquiry Trend
    See how many other companies are viewing a report.

  • Credit Limit
    The Creditsafe recommended credit limit is calculated using information from a company&'s payment record and from the payment records of similar companies. The Credit Limit is a recommendation of the maximum amount of credit you should consider offering this company at one time.

  • Derogatory Legal
    The number and value of tax liens and judgement filed in the last 6 years and 9 months plus bankruptcies filed in the last 9 years and 9 months.

  • Business Spend Trend
    Indicates whether the company's total annual business spend is increasing or decreasing compared to the previous 12 months.

Core Business Data
The data within this section of the report can help you better understand any issues that may affect the company in the near future. Are there major executive changes? Is there an increase in the number of liens placed on the company?

To gain a better insight into a how a company operates, you need to know more about the people running the business. By reviewing information on the people leading a company, you can get a better understanding of where the business is going.

  • US Safe Number
    Creditsafe's unique identifier for every registered company

  • Business Type
    Is the company a Corporation, Cooperative, Government, Incorporation, LLC, LLP, Non Profit, Partnership, or Sole Proprietorship

  • Officer Information
    See the officers of each company and identify other known affiliations

  • Legal Filings
    State and Federal Tax Liens, UCC Filings, Judgments and Bankruptcies.

  • Inquiry Trend
    See how many other companies are viewing a report.

  • Government Award Information
    Identify companies that have been awarded government contracts or grants

  • Federal Motor Carrier Safety Data
    Understand transportation companies' Motor Carrier safety ratings, fleet size and types of cargoes moved

  • Google Maps
    Pin-point the exact location of the business

  • Number of Employees
    Total number of people who work for a company

  • Company Information
    Includes any other legal names such as a DBA, address, phone number and website

  • Group Structure & Linkages
    Corporate hierarchical structure identifying the head office, parent companies, subsidiaries and branches at a global level

  • SIC Description
    The Standard Industrial Classification is a system for classifying industries by a four-digit code

  • Years in Business
    Learn how long a company has been operating and its incorporation date

  • Annual Sales Amount
    See how much revenue a company earned last year

  • Possible OFAC
    Flag sanctioned businesses that the U.S. government prohibits from trading with under the Patriot Act

  • Location Type
    See if the location is a Headquarters, Branch, Subsidiary, Franchise, Franchisor or Single Office

  • Trading Locations
    Identify any logistics concerns by knowing the full list of company addresses

  • Compliance Indicators
    Key compliance indicators such as sanctioned business information

Payment Data Trade payment history is the backbone of a credit report as understanding how a company has managed their credit and bills in the past is the key indicator of future performance. Companies with a long history of managing their business credit and bills effectively are most likely to continue this pattern into the future. Creditsafe credit reports include known payment history and trend analysis. The current and historical payment behavior of a business is the strongest predictor of their future payment behavior. If a company falls behind on its invoices it is proven to be more likely to become delinquent in the future. Creditsafe’s reports all include Trade Data with millions of new payment experiences uploaded into our reports in our ever-growing trade database or reported by the business owner through eCredable.

  • Trade Lines
    Easily see how many other companies are known to be extending them credit and how timely they are paying those bills

  • Financials
    Directly link to financial statement information for public companies and nonprofit organizations based on income statements and balance sheets

Take control of your Creditsafe business profile today.

Every day thousands of finance and credit decisions worth billions of dollars are made based on the scores and data within Business Credit reports.

If your scores are low or your business credit report is sparse, you are likely losing out on contracts, loans and/or leases. And maybe more disheartening, when you are offered contracts, you may be getting extremely unfavorable terms.

As our team at Creditsafe is committed to being your best advocate for growth, Creditsafe created MyCreditsafe, a product that allows you to view, claim, and begin updating your business credit report.

Claim your Creditsafe Credit File Today!