How Often Should You Check Your Business Credit Score?

Your business credit score isn’t something to check only when applying for a loan. It’s a key factor in your company’s financial health, affecting your ability to secure funding, negotiate better payment terms, and build trust with suppliers and partners. Staying on top of your score can help you avoid unexpected roadblocks and keep your business financially strong.

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Chapter 1

Why checking your credit report regularly matters

Think of your business credit score like your personal health. You wouldn’t wait until you feel sick to check in with your doctor—so why wait until you’re denied a loan or contract to check your credit score? Here’s why regular monitoring is crucial:

Catch errors early – Mistakes can sometimes happen. If there’s an error in your business credit report, it could be dragging down your score without you even knowing.

Protect against fraud – Unfamiliar accounts or changes in your credit report can be a red flag for fraudulent activity.

Stay loan-ready – If you plan to apply for financing, knowing your credit score in advance helps you prepare and address potential issues.

Negotiate better terms – Suppliers and lenders often offer better rates to businesses with strong credit scores.

Track your business growth – Your credit score reflects your company’s financial behavior over time. Keeping an eye on it helps you see where you’re improving and where you might need to make changes.

Chapter 1

Why your credit score is important

Your business credit score plays a crucial role in how others view your company’s financial reliability. It’s not just a number—it’s a reflection of your company’s ability to meet financial obligations. A strong score helps build trust with lenders, suppliers, and even potential business partners. Here's why keeping an eye on it is so important:

Access to capital – A good credit score can make it easier to secure loans or lines of credit when you need them. Banks and other lenders use your score to assess the level of risk involved in lending to you. If your score is strong, you're more likely to get favorable terms.

Better supplier relationships – Suppliers are more likely to extend credit to businesses with good credit scores. A strong score can help you negotiate better payment terms, giving your business more flexibility with cash flow.

Favorable insurance rates – Insurance companies often use business credit scores to determine premiums. A solid score can lead to lower rates, saving your business money in the long run.

Business reputation – A low credit score can raise red flags, not only with lenders and suppliers but also with potential partners or investors. It can signal financial instability, making it harder to build relationships and grow your business.

Chapter 1

How often should you check your credit score?

While checking once a year is a good start, a more proactive approach can help you avoid surprises. We recommend reviewing your business credit score monthly—or better yet, letting Creditsafe’s Company Monitoring do it for you. With real-time alerts, you’ll be notified of any changes, so you can act fast without constantly checking reports.

Here’s a guideline to consider:

Annually: If your business is stable and you’re not planning any major financial moves, checking once a year ensures no big issues arise.

Quarterly: If your business is growing, taking on new clients, or applying for more credit, checking every three months helps you stay informed.

Monthly: If you frequently work with new suppliers, extend credit to customers, or operate in a fast-moving industry, a monthly review ensures you catch any changes before they become problems.

Before big financial decisions: If you’re applying for a loan, negotiating supplier terms, or making a large investment, reviewing your credit score beforehand gives you a strategic advantage.

Pro tip: You can save time with Creditsafe’s Company Monitoring. All you need to do is add your company to your portfolio and you’ll receive real time alerts. This will notify you of changes in your credit score, credit limit, or if any financial details change. This means you’ll never miss a red flag.

Chapter 1

How Creditsafe makes it easy

Keeping up with your business credit score shouldn’t be complicated. Creditsafe’s business credit reports provide real-time updates and deep insights into your financial standing. You’ll have access to key details like your credit score, company credit limit, and payment trends, helping you make informed decisions.

Plus, with Creditsafe’s company monitoring services, you’ll receive alerts about any critical changes to your credit profile, helping you stay in control. Whether it’s a sudden drop in your score, a late payment recorded, or a change in your company’s financial standing, you’ll be the first to know—and have the tools to take action.

By checking your business credit score regularly, you can take charge of your financial future and ensure your company is always in the best position for growth. Don’t wait for a surprise—monitor your business credit score with Creditsafe today.

About the Author

Lina Chindamo, DIrector, Enterprise Accounts, Creditsafe

Lina Chindamo is currently Director, Enterprise Accounts at Creditsafe Canada, and a Certified Credit Professional (CCP) with over 25 years of experience in credit risk management. She has held senior leadership roles with leading companies in multiple industries in the Canadian market such as Sony Electronics, Maple Leaf Foods, and Mondelez Canada.

How Often Should You Check Your Business Credit Score?

Need to check your business credit report?

Search for any business to get a free report

Why checking your credit report regularly matters

Why your credit score is important

How often should you check your credit score?

How Creditsafe makes it easy

About the Author

Need to check your business credit report?

Search for any business to get a free report

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