Business credit report services provide your credit history to lenders reviewing your application for a loan or business credit lines. Companies that gather and sell this information are called Consumer Reporting Agencies (CRAs), with the most common type of CRA being the credit bureau. The information CRAs sell about you to creditors, employers, insurers, and other businesses is called a consumer report.

If you've ever applied for a credit card, a personal loan, or insurance, then there's a file about you. This file contains information on where you work and live, how you pay your bills, and whether you've been sued, arrested, or filed for bankruptcy. You have a right to know what's in your report and what information business credit report services are providing. The CRA is also required to give you a list of everyone who has requested your report within the past two years for employment related requests.

Business credit report services must adhere to the FCRA (Fair Credit Reporting Act). The FCRA is designed to promote accuracy and ensure the privacy of information used in consumer reports. Recent amendments to the Act expand a citizen's rights and place additional requirements on all CRAs.

Businesses that supply information about you to CRAs and those that use consumer reports also have new responsibilities under the law. In the event you're applying to banks for business loans and want to find the CRA that has your report, it's recommended that you look in the Yellow Pages under "credit" or "credit rating and reporting." Because more than one CRA may have a file on you, call each until you have located all the agencies maintaining your file. The three major credit bureaus are: Equifax, Experian, and Trans Union.