Equifax Business

Hello, and welcome to this module, Equifax business credit reports. So here’s what we’re going to cover. Basically the Equifax credit risk score basis. Then I’m going to break down how Equifax credit risk score formula works. And it’s going to be a really straightforward module. And I’m going to walk you through also where to get your Equifax report or at least where to request access to it and we’ll get into it right now. So just like the other business credit reports, the credit risk score is a measure of whether a business pays his bills on time, more like a Paydex score than the Intelliscore. Equifax credit risk formula is going to use the following criteria. So payments made as agreed. And if you make your payments as agreed, you’re more than likely going to have a 90 and above score. If your payments are between one to 30 days late 80 to 89, if your payments are between 31 to 60 days, late 60 to 79, and then it’s all the way down to payments 120 days plus late, you’re going to have a one to 19 score.

Uh, anything above 90 is going to be at a great place. But again, like I was saying before, Equifax doesn’t really use, Equifax isn’t as used as much for specific lending criteria. And I really wouldn’t put too much emphasis on this. However, I am gonna walk you through where to request a copy of your credit report, and it’s not as streamlined as Dun and Bradstreet or Experian. So right below this video, you’ll see this link, um, to the actual exp Equifax business reports. You’ll click on this link right below this video, it’s going to say business credit reports for small business, and you just have to hit this, contact us and then fill out your information and then they’ll reach back out to you. So this is the simplest way to do it. Now, one of the things I’ve noticed with the Equifax business credit report is there’s going to be another service that I recommend at the end of this particular section called NAV.

So just wait until I’ll cover how to set up your NAV profile. So if for whatever reason, you’re unable to get your business credit report or Equifax doesn’t reached back out to you, which would not be uncommon because I did this, I did it this way too, and it didn’t reach back out to me, just follow the steps that I’m going to outline in the NAV profile. And then you’ll still be able to at some point, get access to your Equifax business report. So again, I’m just covering this because it is a business credit report, but it’s not the main one you want to be focused on. So again, just to be clear, if for whatever reason they don’t reach back out to you, or you’re unable to get the report through this link. Totally fine. Totally fine. You’ll be able to at some point access it through NAV. Alright, I’ll see you in the next module.