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| BUSINESS REPORTS 1 Source Data’s Business Reports offer solutions to help you better evaluate the risk of new applicants, enabling you to book more credit-worthy customers. You acquire more new customers while minimizing the potential for incurring losses. Business Credit Report Review the payment history for the business's existing financial obligations: • Bank loans • Leases • Supplier invoices • Utility services Determine if the business has any outstanding bankruptcies, judgments or liens. Verify the business identification with firmographics, such as SIC and NAICS, business type, telephone, ownership type and more. View payment trends with easy-to-use graphical charts. Business Principal Report Because many business owners finance their small business with personal credit, it is a good idea to understand the payment habits of the business owner or guarantor. Personal credit information for the owner/guarantor along with their consumer credit risk score provides a more comprehensive picture of potential risk associated with the business. Business Credit Risk Scores Studies show that business owners are more likely to pay their leases and banking obligations over their trade invoices. Small Business scores are unique in that they predict the type of accounts on which a business is more likely to default. Using the credit risk scores, you can quickly and objectively make decisions on new credit requests, as well as set strategies for those applicants with a higher potential for delinquency. OFAC Alert All U.S.-based businesses are required by the federal government to screen new financial transactions (new deposit customers, new loan customers, wire transfers and all other new financial transactions) prior to opening accounts or conducting transactions, as well as regularly checking established accounts and other customer transactions against the Office of Foreign Assets Control watch list. Failure to comply may result in costly fines. OFAC Alert can be included as part of the Small Business Credit Report or Business Principal Report to automatically screen business entities, charities or principals against the OFAC list, with no additional re-keying. Easy-to-read results delivered to the point-of-sale allow you to take immediate action when necessary.
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