How to Get a Free Business Credit Report

If you are a business owner, you may be able to obtain a free business credit report. A business credit report tracks your business's use of credit. In addition, the business credit report is what lenders use to determine your risk level when extending credit to you. Just as individuals need to with personal credit reports, business owners need to monitor their business credit reports for errors and inaccurate reporting.

Obtaining a Report

Under federal law, if you apply for credit as a business and are denied, you are eligible to receive a free copy of your credit report to see what factored into the creditor's decision. You will need to use the denial letter to find out which agency was used to deny credit. Keep the denial letter handy, since it has information you will need to provide to the credit bureau. Once you find out the agency, you will need to contact them and make your request. Most agencies have an online request portal. Remember that, while this is a useful way to obtain a free business credit report, you should use it sparingly. Multiple inquiries can affect your credit score negatively.