Onboarding Soft Pull Solutions | Full File Soft Pull Credit Reports | Credit Report Software

Onboarding with Soft Pull Solutions: Needed Items and Inspection

 

Please be prepared to provide the following documents/information to help us onboard your business efficiently:

 

Secretary of State - Articles of Organization/Incorporation

An active and working website we can use to better understand your business, what services you offer, and what industry you are in.

Register your business in the Yellow Pages with a free business listing. Call 844-339-7991.

Copy of Lease Agreement. (not applicable for businesses out of a residence, or if you own the commercial property where your business is located)

Third Party Reference from a company you do business with (lender, vendor, partner,etc.)

Copy of the consent form you will have the consumer sign before pulling credit. If you do not have one, we can provide an example for you.

Copy of driver’s license.

Copy of a business phone/internet bill (The invoice must be in the company name and match the same location where the inspection is taking place. Utility bill will also suffice if you do not have a phone or internet bill)

Industry License - If applicable, such as mortgage, auto dealership, etc.

 

Preparing for an Inspection:

We work with businesses headquartered in commercial spaces and out-of-home offices. We typically prefer our customers to complete a virtual inspection rather than have the inspector come onsite, but this depends on the services you need, which bureaus you use, etc.

The following items are what the inspector is typically looking for.

  • Permanent Signage (a nice laminated sticker or plaque with your company name and/or logo is usually sufficient) (this requirement is not applicable if your business is out of a home office)
  • Business License (If you are an auto dealership, mortgage company, or other industry where a business license is required, then that license should be displayed somewhere in the office)
  • Office equipment present
  • If the office is in a shared workspace of any kind, there must be a physical separation and security measures between the office being inspected and other offices. Most commonly, this is a locking door at least, and even better if there is also a security system of some kind.

 

Security and Data Storage:

  • The inspector will look for the following security
    • Locking Door to the whole office
    • Locking Doors within the office to individual offices
    • Lockable file cabinets
    • Password-Protected Computers
  • Computers must have up-to-date anti-virus/anti-malware
  • The office must not share its internet network access with any other companies in the building.
  • There must be a paper shredder or document destruction service bin in the office.

*Please note, the inspector may take pictures of any desk or work station in the office

 

Phone Verification:

  • The inspector will call the phone number listed on your website. They are checking whether the phone is answered professionally by an employee who properly introduces themselves.

 

Business Practices:

  • The inspector will ask questions centered around, "What services or products are being provided by your company and what industry you are in?" 

 

What is an Inspection for?

The purpose of an on-site inspection is to ensure:

  • The location and business entity are legitimate.
  • Consumer information is being used for permissible purposes.
  • Adherence to Security Requirements. 

The inspection is a mandated requirement by all credit repositories.

 

Booking an Inspection:

A third party inspection company will contact you to make an in-person or virtual appointment. Typically the name of the company performing the inspection will be Complytraq. If the inspector leaves a message, please return their call as soon as possible. You may also be contacted via email.

 

General Checklist:

What you should plan to do to prepare:

  • It is necessary for you to be present during the inspection. You will talk to someone and you need to be there physically at the office when it is inspected.
  • Explain how confidential documents are destroyed (paper shredder, etc.)
  • The inspector should be informed if there are any security systems in place (i.e. alarm system, surveillance system, security guard).
  • A lockable file cabinet or lockable room that stores credit reports.
  • Consumer reports must be kept in a secure location and password-protected if they are accessed via computer.

 

Location Type Checklist:

For a commercial location:

  • Signage should match your business name.
  • If a business license is required in your city, it should be on the wall or inform the inspector where it is.
  • The inspector will take pictures showing the product/workspace, where the consumer reports are secured, and one showing permanent signage.

 

For a residential location:

  • The inspector will take photos of the interior office showing the locking filing cabinet, one of the shredders, desk space, and the room. They will not need to walk through other portions of the office or home.

 

Before the inspection, ask yourself:

  • Are your computers password-protected?
  • Do you have up-to-date anti-virus?
  • Are your computer monitors viewable by non-employees?

 

Important Reminder:

The inspector represents a third-party entity. Please do NOT give the inspector any documentation intended for your client file that is not directly related to the inspection itself.

 

Any questions:

Please contact your Soft Pull Solutions Sales Representative for any questions regarding on-site inspections. 844-515-1550 or onboarding@softpullsolutions.com

 

 

FAQ - Inspection

Yes, you can do a virtual inspection with TransUnion and Equifax, but Experian will likely require an on-site inspection.

Yes, you can set up credit report services if you work from a home office. However, you will likely need a commercial office if you plan to use Experian.

No, typically only one location completes an inspection. Most businesses conduct their inspection at the same location as their company headquarters, where credit reports are pulled.

Yes, there are a few industries that are exempt from completing an inspection. Banks, credit unions, and new car dealerships don’t need to complete an inspection.

Yes, to get set up with access to pull credit reports, you will need a locking filing cabinet and a paper shredder. This is a requirement set forth by all three major credit bureaus.

No, it will not be harder for your company to get approved if you are a "startup". If you have been in business for less than a year, we may occasionally need to request an additional document or two, but this is rare.

Yes, Soft Pull Solutions works with numerous businesses that utilize shared office spaces. It is important to know that you need a locking door that separates your business from any other company. You will also need a password-protected wifi network. Lastly, the credit bureaus require you to have "permanent signage" at the door, window, or entrance of the office. The easiest way to meet the "permanent signage" requirement is to place a plaque on the door with your company's name, or you could put a nice laminated sticker with your company's name/logo on the window.

Yes, the requirements to get set up with credit report services are the same regardless of whether you will be doing soft pulls, hard pulls, or both.

You will only need to complete one inspection, and we can then get you set up with access to each of the three credit bureaus.

You can really install almost any type of antivirus to meet this credit report requirement. Some of the easier antivirus tools we often see are Norton, McAfee, and Webroot. 

No, we can get you set up with business credit reports in just a few minutes. You do not need to complete an inspection.

In the U.S., you generally do not need permission to access a business credit report. Unlike consumer credit reports, business credit information is largely based on public records and voluntarily shared data. Public records may include details from government sources like Secretary of State filings, while shared data is often contributed by vendors and lenders who report payment histories to help provide a clearer picture of a company’s financial health.

FAQ - Needed Items

Although utilities are often covered within a lease, you will still need to provide an internet or phone bill as part of the verification process. Credit bureau security standards require a password-protected, non-shared Wi-Fi network. The utility bill must reflect the business name and match the physical address where the inspection is conducted.

Soft Pull Solutions will need a copy of a phone bill or utility bill. For companies in business for less than one year, or located in Puerto Rico or the U.S. Virgin Islands, our onboarding team will need a copy of a recent phone bill. Voice Over IP (VOIP), such as Zoom, Ring Central, and other VOIP phone systems, are acceptable. 

Yes, this is a requirement directly from the credit bureaus. Contact the Yellow Pages directly for a free business listing, which will also help your SEO and online presence. 

You can still be onboarded for credit report services without a lease agreement. We do recommend providing one because it can make the setup process easier, but many businesses work from home or own their own property. If you can’t provide a lease, it won’t affect your ability to access consumer credit reports.

The onboarding team at Soft Pull Solutions has a consent form you can use before pulling credit. Please feel free to also send a copy of your company's consent document if you have your own form you plan to use.

Soft Pull Solutions Onboarding can typically retrieve the Secretary of State documentation showing your business is active and in good standing. However, the setup process is significantly expedited when you supply the document yourself. You can also provide an EIN confirmation letter in lieu of the Secretary of State.

Many industries do not require a license. However, mortgage companies, auto dealerships, and some industries do require a license. If so, our setup team will ask for a copy of that document.

No, you do not need to provide documents to get set up with business credit reports and UCC searches. Services for business credit reports and UCC searches are far simpler, and we can have your company set up in minutes. Please feel free to contact us for more details.

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