A Credit Report is a 3rd party report that provides credit information on a business. Credit reports are used by the factoring company to set a credit limit (the dollar amount of invoices that they are willing to purchase) for an account debtor. These reports are available from a variety of sources including:
- Experian
- Dun & Bradstreet
- Bernard Sands
- Equifax
- Ansonia Credit Data
- Virtual Credit Network
- Carrier411
- Cortera
- Credit.net
There are also other smaller firms that specialize in niche industries such as trucking. Many of the credit reports from these credit agencies provide comprehensive information on the business’ finances which can help the factor determine and mitigate the credit risk they take.
