Below is the credit report set up information that needs to be completed:
Credit Report:
The credit report is provided through TransUnion and they require specific documents that I have attached (TU Letter of Intent and TU Service Agreement), as well as some additional items listed below. There is also a one-time $90.00 on-site inspection fee required that is also dictated by TransUnion. If you happen to fall into one of the below categories, an on-site inspection is not required.
On-Site Inspection Not Required For:
Publicly traded companies, companies listed in FINRA OTCBB, companies subject to the regulatory authority of any agency listed in Section 621(b) of the FCRA (verify with address match), licensed insurance companies (verify through AM Best), tax-exempt companies (reports must be redacted), companies certified by Small Business Administration, companies certified as DOT Disadvantaged Business, federal or state agencies, hospitals, companies that operate in medical-related fields or facilities, franchise recreational vehicle dealerships, franchise auto dealerships, mortgage brokers working from a residential site.
Additional items needed for credit include:
- List of who your Business banking relationship is with, name of bank, location and contact.
- Proof of commercial insurance.
- Copy of business license, Federal Tax ID letter or Articles of Incorporation (only one required).
- List of company’s owners/principals names and addresses
- Screenshot of website.