- Posted on
- Edgar Gonzalez
A credit report can provide each business with an image of what lenders can expect in terms of how the credit in question will be handled. The credit reporting agency will also take this information and utilize algorithms that can assign a numerical score, known as a credit score.
If the creditors are not paid or are paid late, or if the credit gets maxed out, this negative information will be visible on a credit report.
Ultimately, this can lower the credit score and can prevent a lot of businesses from receiving additional capital in the form of credit.
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