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Benefits of Business Credit Monitoring

2/16/2017

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Do some of your business customers, suppliers, and partners have impending financial problems? Find out before you incur losses with Business Credit Monitoring from Equifax.
Equifax Business Credit Monitoring
At last, there’s a fast, economical way for your company to monitor any number of commercial accounts and get early warnings when a business may be facing financial difficulties.  ​The key to managing risks for existing accounts is to have a good process for finding out what you don’t know. 

​Business Credit Monitoring for Small Businesses

​If you sign up for Business Credit Monitoring today, you can immediately begin realizing the benefits. There are no software systems to install, no commitments to supply account data, and no disruptive implementation projects. 

Early identification of potential risk enables you to adjust payment terms, diversify revenue streams, engage new partners, or find back-up vendors to provide critical goods and services.
Get Peace of Mind with Business Credit Monitoring!

​Here’s how you’ll use the Equifax Business Credit Monitoring service to improve risk assessment and decisioning:
  1. You identify what businesses to monitor by uploading a file or enabling monitoring when you receive a business credit report for a business about which you inquired.
  2. Equifax monitors the businesses and sends you timely email alerts when any of these adverse developments occur:  Drop in the Small Business Credit Risk Score or Business Failure Risk Rating, Judgments or liens appear in public records , Indication of bankruptcy reported for the business
  3. You access the details of each alert at the same Equifax portal you use to pull business credit reports.
  4. You decide what action to take for high-risk situations—such as restrict terms, close the account, or require COD payment.
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    Spencer Accounting Group, LLC does not provide investment, tax, legal, or retirement advice or recommendations in these blogs. The information presented here is not specific to any individual's personal circumstances.

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    To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
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    These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

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    Author

    Keana Spencer is an Accountant, Entrepreneur, and Educator to her clients, with a strong passion.  Keana has over 10 years of experience and through her practice, she is a source of knowledge and strategies to her clients.

    Keana founded this website and decided and created this blog page to offer a space for those seeking knowledge to understand, however not to be confused with advice or planning strategies.

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