Understanding Your PayEx Score: A Guide for Business Owners
What is a PayEx Score?
- A PayEx Score is a rating that goes from 0 to 100.
- A score from 80 to 100 indicates that you pay your bills on time or even earlier than the due date.
- If you pay your bills later than the due date, your PayEx score will drop from 79 down to 0.
How to Generate a PayEx Score
- You can generate a PayEx score by working with 4 or 5 vendors who provide supplies or services to your business.
- These vendors will give you the supplies or services upfront and provide you with a certain number of days to pay the bill.
- Dun & Bradstreet, a business data collection company, collects this information and determines your PayEx score.
Understanding the Importance of a PayEx Score
- Your PayEx score is not related to funding your business, but rather focuses on your trade credit or vendor credit.
- It reflects your ability to obtain credit for supplies and services, rather than capital.
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