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Tuesday, October 13, 2009

Paynet - The Litle Known Alternative to Dun & Bradstreet

Paynet is a little known business reporting agency. More than 200 leading US Lenders anonymously report more than 16 million finance contracts worth greater than $ 700 billion. Its database is updated weekly and is used by commercial equipment lenders to make loan and lease decisions .

It was started in Skokie IL in 1999 to find a better way of predicting business owners ability to repay equipment installment debt . Credit bureaus are highly
biased towards paying personal credit obligations . Paynet instead depends on large commercial lenders reporting anonymously on a weekly basis .

Dun & Bradstreet has historically been the credit source commercial lenders
have relied upon . Unfortunately it is often inaccurate or biased towards the
few big companies who bothered reporting to them . It also can be manipulated
giving an unfair advantage to those who know how to self report their business trade references.

Paynet has made it easier for good paying business owners get larger installment credit without having to provide business tax returns . It also enables them to get credit with more conservative lenders at better rates .