Maintaining great business credit scores and profiles is a vital component to growing your company. In fact, poor business credit can hinder growth and may leave you with only high-interest financing options. If you are battling with the repercussions of bad credit, now is the time to invest in a business credit repair service.
What does a business credit repair company do?
Business credit repair is defined as removing, updating, rebuilding, and restructuring of credit profiles in order to improve the scores and indexes. The goal is to help businesses grow financially, qualify for low-interest financing, win profitable opportunities, and stand out as an authority in their sector.
Typically, services begin with a full analysis of each report, we recommend providing all three reports from the major business credit bureaus. The account manager will review each report in detail asking questions and providing feedback on all the data. For your own sake, it is important to be prepared for the meeting and provide a lot of history. What is discussed will help determine an estimated timeline and feedback on what can be repaired or rebuilt. This is standard practice with any high-quality business credit repair company, you should never work with a company that does not do research and ask questions.
If a relationship is established following the consultation, they may request documentation on the damaged accounts and other vendor relationships. At this time, they will get to work removing late payments, establishing new healthy accounts, correcting invalid information, and other work based on your situation. Depending on the damage and how many reports they are working on, this process could take months or more.
Upon completion of the services, your account manager should be able to guide you or provide support on how to manage and maintain business credit. Business credit reporting is unregulated, so it is necessary to monitor the reports on an ongoing basis. Repairing your business credit is not a simple process, but with professional business credit services, you can save loads of money and win more opportunities in the long-run.