Capital One is helping demystify business credit for today’s business owners with the launch of Business CreditWise, an easy-to-use tool providing unlimited, free access to a company’s credit profile. Business CreditWise is available to any U.S. business (not just Capital One customers), and can be accessed at any time without impacting business credit.
“Business credit is a critical component of a company’s ability to secure financing, yet our research shows less than half of business owners have ever viewed their business credit reports,” says Jenn Garbach, head of brand and marketing for Small Business Card at Capital One. “Our goal is to empower businesses with products and tools that help them succeed and grow. With Business CreditWise, business owners can quickly and easily access their credit, correct mistakes and understand what is impacting their overall credit report, free of charge.”
According to a recent Capital One survey, nearly one third (31 percent) of small business owners have either never heard of business credit reports or know very little about them. By proactively managing their credit, businesses gain other important benefits such as better access to funding; becoming trusted partners, suppliers and vendors; and growing their businesses to capitalize on market opportunities.
Business CreditWise provides business owners with a free, in-depth view of their business credit reports, and includes:
- Unlimited access to your business credit report, sourced real-time from LexisNexis Risk Solutions, with no impact to your business credit
- A comprehensive view of key factors that impact business credit under four pillars: Business Details, Payments, Credit Usage and Public Records
- A guide to interpret your business credit report the same way lenders do with helpful, educational tips
- The ability to find and fix inaccuracies for free, with no hidden fees, by submitting disputes to LexisNexis Risk Solutions
“At Capital One, we are dedicated to helping business owners unpack the complexities of their business credit and manage this aspect of their financial reputation,” continues Garbach. “We launched CreditWise for consumers in 2016, and since then millions have enrolled in the credit monitoring tool to help understand, improve and protect their credit. We are excited to add Business CreditWise to our suite of tools and features designed to help business owners manage their finances and make well-informed decisions.”