On personal credit reports, trade lines are identified by the company reporting the information on the account holder. As an example, the trade account may say “Sears” and Sears will report what their records show about your repayment history to them.
Imagine if an account were listed and showing slow or derogatory repayment history about you, but the company’s name is not listed. Hard to imagine? That is precisely what occurs today with very well know business reporting agenc(ies) and how they report on businesses.
One of the purposes of the business credit report is for other businesses, or the business itself, to review the trade and repayment history. However, if a business reviews it’s own business credit file, reviews the trade section and identifies delinquent or derogatory repayment information, they do not know who the company is that is reporting on them.
For privacy purposes, company names of business credit reporting agencies will not be listed here.
It is even the case when the business credit reporting agency is called and a customer service representative is spoken with, the representative will indicate they do not know, are unable to tell you, and unable to find out who the company is that is reporting credit on you, in spite the fact that the business credit reporting agency is receiving credit information from them, about your business.
It seems very clear that they do know who the companies are, even if the number of people that have access to that information is small. Since the business credit reporting agency is receiving information, they will have to know who the company is reporting information concerning your company.
If this issue is encountered by a company reviewing their own business credit from a business credit agency, it is recommended that a supervisor at the business credit agency is asked for and to make every effort not to relent, until this information is provided. Anything less could be considered a disservice to the business seeking information on their credit.
Small Business Loan Resources:
SBA Community Blog and Forum – Blog and Forums by the SBA, Small business administration. Questions can be asked and answers provided.
U.S. Department of Commerce – Helps american businesses become more innovative at home and competitive abroad.
U.S. Bureau of Economic Analysis – Provides statistics on consumer spending, corporate profits, travel and tourism and much more.
Entrepreneurworld – Resource for Entrepreneurs, including starting your own business, growing your business.
Bureau of Labor Statistics – Provides companies with up to date information on employment, demand, hiring, productivity and other information that may be useful to companies.
International Trade Administration – Creates jobs and economic growth by promotingU.S. companies abroad to governments in other countries.
More Small Business Loan resources:
Department of Labor – Provides information on many labor issues that can be useful to companies, such as insurance, regulation, wages, wage hours, compensation, safety and health
U.S. Patent and Trademark Office –U.S. office to file patents to protect a companies new or existing proprietary products.
U.S. Trade and Development Agency – Promotes U.S. Exports to Foreign Countries, please review if your company is interested in exporting goods to foreign countries.
CEO Refresher - A monthly newsletter on creative leadership ideas. Short articles, brief book reviews, models, management tools, quotations and commentary.
E-Network for CEOs – Online articles and much more for CEO’s
Public Radio Planet Money – All issues money related to the public.
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