Top Tips on How to Effectively Credit Check a Non Limited Business.

Non limited businesses such as sole traders and partnerships have always been an issue for credit managers and business owners to effectively set credit limits.

Knowing where and how to obtain good quality information on sole traders and partnerships can be sometimes a tricky minefield beings that there is no central information centre for filing information. However this blog will help give you some pointers on how to credit check non limited businesses and where to go about doing so.

Firstly, when dealing with Proprietorships or Partnerships always ensure you get a complete application form filled out by the business owner(s). This application form should include trading address and details of the company but also the owner(s) current and previous residential property as well as trade referees. Always ensure that you have their authorisation to carry out credit checks on them as both businesses and individuals.

Secondly, use a credit reference agency such as Creditserve to double check the information given to you by the proprietor/partners and confirm there whether there is any derogatory information registered against them as individuals or the business. There are several ways to confirm the information given is correct, one is to carry out a business report on the company and the second would be to carry out a consumer credit check on the proprietor/partners at their residential address(es).

The third option is to request a fully in-depth credit report which includes all of the above plus much more, Creditserve are the only provider of bespoke credit reports in the UK and are recognised by all the major credit insurers and provide their credit information to a multitude of blue chip organisations both in the UK and Worldwide.

Creditserve also offer online business credit reports, consumer credit reports, AML (Anti-Money Laundering) credit reports, online overseas credit reports and in house debt recovery services.

If you would like any further information on any of our services please visit www.creditserve.co.uk or email sales@creditserve.co.uk or call 01992 414222.