Employment Credit Report
Credit reports can be a valuable tool for assessing applicants who may occupy a position where business needs dictate a history of financial responsibility.
An Employment Credit Report differs from a traditional credit report, in that it is tailored for use in an employment situation. For example, it does not include account numbers, nor does the “pull” count against the applicant’s credit score.
Franchise Credit Report
The Franchise Credit Report will provide you with an unbiased account of a potential candidate’s financial background information by delivering a full credit history including FICO score to ascertain if your candidate is financially stable to purchase a franchise. It uses lender-defined credit risk categories with associated methodologies and algorithms to analyze franchise systems. Franchise systems have a unique set of characteristics from a credit risk perspective. Regardless of the industry, each franchise brand is designed around uniformity and conformity and every franchisor has responsibility for the same support functions. Based on hundreds of brands across decades of performance, credit risk factors were evaluated at the unit level, the system level, and the franchisor support level. The result is the best credit risk predictor of future brand, system, and unit performance, thus providing the lender with the tools to evaluate systemic franchise credit risk. The Franchise Credit Report can also help you identify those applicants who are potentially financially overextended or on the brink of problems that could adversely affect their performance on the job. It could signal a pattern of transiency or instability, as well as an inability to meet obligations. The “pull” does count against the applicant’s credit score.