PAYDEX Score

Free PAYDEX Score Information

As with a FICO Score (personal credit score) the higher the score, the lower the perceived risk in lending money and extending credit. One obvious difference between FICO and PAYDEX is that a FICO Score is three digits ranging from 300 to 850 while a PAYDEX Score is two digits ranging from 0 to 100.

FICO is the standard for personal credit but PAYDEX is just one of many business credit scoring systems. Having a high PAYDEX score does not guarantee that your business will qualify for business credit, business loans, or other funding opportunities.

So how is a PAYDEX Score calculated? Simple, the score is really just a measure of how prompt a business is at paying creditors. If all creditors are paid on the date that the bill is due, the resulting PAYDEX score will likely be 80. Paying creditors before the due date will increase the score and paying creditors late will decrease the score. Paying all creditors a full 30 days before the due date is likely to result in a PAYDEX Score of 100. However, most lenders and credit providers who examine a business's PAYDEX Score are really only looking for score of 75 or greater.

There is no cost directly associated with generating a PAYDEX Score. So essentially every business can get a free PAYDEX Score. Each individual PAYDEX score is tracked by a unique DUNS Number. Although there is a fee for requesting an expedited DUNS Number, a DUNS Number can be requested for free and can also be automatically generated when credit information for a business is first reported.

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*You may already have existing credit scores which can affect your ability to build business credit. There is no one business credit score which is used by all credit grantors and lenders as the sole criteria to determine the creditworthiness of a business. Our scoring system exists to help business owners view and track the fundability or their business based on user submitted information. Credit grantors and lenders may create their own models based on information such as the type of credit and/or other funding an applicant is seeking. Additionally, there are credit scoring models created by credit bureaus and these may also affect your ability to qualify for business credit or other funding.