Thank you for engaging Equifax for data contribution, and we are eager to learn more about your business and data. The information contained in the (CFN) Commercial Financial Network exchange is critical to thousands of decisions made every day. The quality and integrity of this data is a top priority. For this reason, due diligence is taken when adding new data providers to fuel the Commercial Financial Network.

The National Credit Reporting Agencies manage hundreds of varied data assets. In order to determine if your data is suited for the Commercial Credit Report, there are multiple factors considered. 

Some examples are:
 

• Does the tradeline or loan represent an extension of credit?
• To what degree does the tradeline or obligation reflect the actual risk taken by the creditor or other entity?
• Does the furnisher have the appropriate incentives in place to ensure the accuracy of the data reported?
• Is the data understood, and can it be interpreted with consistency by users of the credit reporting ecosystem?

Requirements for Reporting Commercial Data

All new Equifax data furnishers are required to comply with certain basic requirements: 

• Furnishers that report tradelines on themselves are NOT accepted by Equifax
• Furnishers that report “pay for tradelines” are NOT accepted by Equifax
• For financial institutions, data must be provided in either the standard commercial layout template (highly encouraged) or in the Metro 2® Format (Packed or Character Format)
• For non-financial contributors, data must be provided in the standard commercial layout template and the Metro 2® Format is not accepted
• Data must be transmitted electronically 
• The entire file should be reported (e.g., all current, delinquent, collections, charged-off accounts) for any portfolios leveraging Equifax Commercial Data and  Data Furnishers must report their full file in cycles or monthly (preferred)

        - The only exception would be banks that report SBA loans only and do not receive solutions from Equifax Commercial
 

• Data must be in accordance with current Equifax reporting guidelines 
• Furnishers must  be assigned an Equifax Member Number to confirm the data furnisher has successfully passed the Equifax credentialing process.
• DATA CONTRIBUTION MINIMUMS (These thresholds DO NOT apply to those that are buying EFX Commercial services)

        - Tradeline  Minimums
             Financial:
             • Must have either a State or Federal lending license
             • No minimum as long as a licensed lender
             • 1,000 records if not licensed
       - Trade Credit:
             • 500 records