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Business Faqs

Business Credit Report

About a TransUnion Business Credit Report

Doing business in today's environment is tough. Whether you are targeting new business, taking on a new business partner or determining the credit status of your own business, you need to make informed decisions with independent, comprehensive and accurate information.

If you're looking to do business with another business, accessing a Business Credit Report on that business will help you verify their business and review their financial stability, which will lower the risk for you and make doing business a lot easier.

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What is a TransUnion Business Credit Report?

A TransUnion Business Credit Report is a report on payment history related to credit agreements in the name of a business. It will indicate if a business makes regular payments to debtors. Defaults and judgments against that business will also be recorded.

A Business Credit Report provides the following information on a business:

Statutory Detail — Basic information about the business itself.

Subject Default — Court records and default information on the business.

Principal/Director Details — Personal details of all principals, that is, authorized people responsible for the running of the business and the directors of the business.

Principal Director Default — Information relating to the credit report of the principals/directors (for example, judgments, defaults and the enquiry history).

Bank Report — Confirmation of the bank details, bank code and account conduct in a report compiled by the Bank Manager.

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About the Business Credit Report

TransUnion is a custodian of business information gathered from various sources such as the registrars of companies, home affairs, public records (information from the courts) and information from credit/service provider enquiries.

TransUnion plays an essential role in storing information on past credit behavior and providing this information to businesses and individuals. This assists in making more informed risk and credit decisions, thereby facilitating access to goods and services.

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What information is provided in the Business Credit Report?

The Business Credit Report provides comprehensive information to credit grantors and service providers. This helps them make better and more informed risk decisions.

Statutory Detail: Identification details, including contact and address information, registration details, VAT numbers and tax numbers.

Subject Default: Adverse information, including civil court records, default information, notarial bonds and notices.

Enquiry History: Information on other companies that have enquired on the business in the past.

Bank On-File: History of bank codes provided on the business.

Trade On-File: History of trade references obtained on the business.

Principal Detail: Lists the business's principals, including name and surname, ID number and type (director, member, etc.).

Deeds on File: History of property and bond information obtained on the business.

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