What every business needs to know about PayNet

PayNet is a business credit reporting agency with a database containing over 22 million contracts from small business loans, leases, and lines of credit. You cannot purchase reports, the business must call and request a copy.

PayNet MasterScore® v2 – This lending score ranges from 550-740 with the higher score reflecting a lower risk borrower. Lenders will use this score to predict the risk potential of borrowers. They use 587 variables and 135 unique variables in order to compute this score.

There are a variety of factors that can impact this score:

  • Payment activity – Are you paying on time?
  • Inconsistent credit quality patterns
  • History of delinquencies
  • Derogatory public records
  • No borrowing history
  • Size of the business
  • Current borrowed assets not being paid
  • Higher risk industry, State, and/or economic conditions
  • Construction & Transportation Equipment Credit Score – This is a score specific to lenders in the construction and/or transportation lending sphere.

Credit history report – PayNet credit history report contains public record information on the company and detailed payment data on past and present payment experiences. The reports also offer a comparative analysis of historical payment data, in other words, they will compare your payment history with other similar businesses. Lenders will use this information and the MasterScore® to determine whether a borrower is worth the risk.


Written by Tracy Becker, originally published on northshoreadvisory.com

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