From the course: Credit Secrets for Entrepreneurs

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No creditors are named

No creditors are named

From the course: Credit Secrets for Entrepreneurs

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No creditors are named

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- The strangest thing about business credit reports is that they don't list the names of creditors. So if you've seen your consumer credit report, you may have noticed that you have a mortgage from say, Wells Fargo, or Bank of America, or your local credit union. But business credit reports don't list the names of any creditors, this is standard industry practice. Instead, they summarize it by type of industry. So here's an example from a business credit report where you can see, there's some kind of utility account, which might be for electricity, and then you see a communications account, which might be a cell phone bill, or an internet provider, and then you see food distribution, which might be a wholesale food distributor, you get the idea. There can be a variety of accounts, so this can be a little confusing, and honestly, it could be a little frustrating, especially for a business that has multiple accounts.…

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