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Business Credit Builder: Dun & Bradstreet Product Review Part 2
Business Credit Builder
On the previous post I reviewed two business credit builder products at Dun & Bradstreet that were great for start-ups and companies that had a few trade experiences they wanted to add to their credit profile. In this post I’m going to cover two more advanced products that have received a makeover that’s definitely worth mentioning.
Now remember that obtaining a DUNs number does not cost anything to your company but receiving your number can take over 30 days if you choose the free route. However, you can obtain your DUNs number in less than 24 hours by either purchasing one of its business credit builder programs that I’ve reviewed or if you are a government contractor, government vendor, or grant recipient.
Let’s take a look at these business credit solutions and how they can help build company credit for your business.
DNBi Self Monitor Plus Inquiries
Price $799
This product is similar to the DNBi Self Monitor Basic except that it allows you to submit up to 24 references over a period of 3 months for a total of 12 payment experiences to be added. The basic version allows you only a total of 4 payment experiences to be added. They provide this extra cushion just in case they are unable to contact one of your references for payment experience verification.
In addition you have the ability to track the inquiries that others are making into your business credit file. This is a great way to make sure you are up to speed on the latest information that vendors, banks, suppliers and customers are seeing and an effective way to determine if your business is generating the positive interest it needs in the marketplace.
If you choose to purchase this product then most likely they will waive the DUNs File Creator fee so don’t hesitate to request it. This product is ideal for you if you already have existing trade references that you want to add plus closely monitor the activity and inquiries on your file.
Some other product features include:
• Key D&B scores & ratings including D&B Rating, Financial Stress Score, Commercial Credit Score and Supplier Evaluation Risk Rating.
• Comprehensive overview of payment history including D&B’s PAYDEX
• D&B’s Credit Limit Recommendation
• Financial performance including Key business ratios that measure financial strength.
• An overview of public filings including Suits, Liens, Judgments and UCC filings.
• Notification (alerts) when significant changes occur within your credit file.
• Easy-to-use web-based interface
* Tip – there are business credit builder companies like the Business Credit Insiders Circle that provide access to vendors, suppliers, business credit cards and companies that report to DNB for building small business credit.
DNBi Self Monitor Premium
Price $1,399
This product is the grand daddy of DNBs business credit solutions. In my opinion it’s a big upgrade to DNBi Self Monitor Plus Inquiries product because it allows you to submit up to 200 references over a period of 6 months for a total of 100 payment experiences to be added. The ‘Plus Inquiries’ version allows a total of 12 payment experiences to be added. That’s 88 additional references you can add with this product and 6 months time frame to do it.
Some of my members who have been in business for years and have just now realized they needed to build a business credit history found this product to be a no brainer. Since they already had long standing relationships with many companies they quickly had the ability to add dozens of trade experiences to their files and create a paydex score of 80+ in a matter of weeks!
*Tip – there are credit builder companies like BCIC that report your payments to a business credt bureau. Not only do they give you access to vendors, suppliers, business credit cards and companies that report to DNB but they also help you build business credit history too!
If you decide to purchase one of these DNB products or need some guidance regarding the status of your DNB report then call Dun & Bradstreet at 866-203-3151.
I hope that you found these product reviews to be helpful to you in getting started in building small business credit for your company.
To access business credit insider secrets, premium vendors, leasing companies, business credit cards, and lenders that report to all the major business credit bureaus become a member of my Business Credit Insider’s Circle. Submit your name and email below for details and receive a free audio seminar ($597 value) =>
Business Credit Builder: Dun & Bradstreet Product Review Part 1
Business Credit Builder
After speaking with my contact at Dun & Bradstreet today about its business credit builder programs there have been recent changes made this year that you should be aware of. These changes are good news for small business owners and make the programs offered at DNB more streamlined and affordable to establish, improve, and protect your corporate credit.
Now keep in mind that obtaining a DUNs number does not cost anything to your company but receiving your number can take over 30 days if you choose the free route. However, you can obtain your DUNs number in less than 24 hours by either purchasing one of its business credit builder programs or if you are a government contractor, government vendor, or grant recipient.
Now let’s review each of its business credit solutions and how they can help build company credit for your small business much faster than the traditional route of waiting for your creditors to report.
DUNs File Creator
Price $229
This product is ideal for you if you need to have a DUNs number issued right away. As soon as you purchase this product they will issue your number in 24 hours and you can have a DNB business file in their system within 5 business days. You have the ability to add extensive information on your file like company background information, operational information and financial statements. One of the drawbacks is that it does not include the ability to add trade references to your file. You will have to wait for vendors, creditors or suppliers to report their payment experience with you to Dun & Bradstreet. So if you are trying to build business credit history fast then this would not be the best choice for you because you have to wait until your suppliers report your payments.
* Tip – when you become a Business Credit Insider member we give you access to vendors, suppliers, and companies that report to DNB on a monthly basis for building small business credit.
DNBi Self Monitor Basic
Price $449
If you choose to purchase this product then most likely they will waive the DUNs File Creator fee so don’t hesitate to request it. This particular product is ideal for you if you already have existing trade references that you want to add to your file. This service allows you to submit up to 8 references over a period of 3 months for a total of 4 payment experiences to be added. They allow this extra cushion just in case they are unable to contact one of your references for payment experience verification.
Now if the price on this is a bit of stretch for you then you may want to take advantage of their monthly payment option. It costs $39 per month and requires a 3 month minimum term. Keep in mind that if you select this option you are only allowed to add 1 trade reference per quarter with the option to add more if you continue the service.
*Tip – when you become a Business Credit Insider member we report your monthly membership payment to Small Business Equifax. Not only do we give you access to vendors, suppliers, business credit cards and companies that report to DNB but we also help you build business credit history too!
If you decide to enroll in one of these programs or need some guidance regarding the status of your DNB report then call Dun & Bradstreet at 866-203-3151.
Stay tuned for Business Credit Builder Part 2…
Looking to start building your business credit? Become a member of my Business Credit Insiders Circle and gain access to a proven step-by-step business credit building system. A system that provides you access to vendor lines of credit, fleet cards, business credit cards with and without a PG, funding sources and lenders that report to all the major business credit bureaus. Submit your name and email below for details and receive a free audio seminar ($597 value) =>
Marco Carbajo is a business credit specialist, author, speaker, and founder of the Business Credit Insider’s Circle. He is a business credit blogger for All Business & American Express Small Business and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.
Establishing Business Credit with a Secured Business Credit Card
Secured Business Credit Card
Recently I posted how credit restoration is a viable strategy for small business owners in personal credit recovery. In addition to repairing your personal credit you should also focus on building and if necessary repairing your business credit as well. One of the best ways to start establishing business credit is through a secured business credit card. 
These types of credit cards are specifically designed for businesses with no credit or less than perfect credit history. When you apply you are required to submit a security deposit that will establish an initial credit line. In most cases a minimum deposit of $500-$1,000 is required and once you begin using your card you will receive invoices like a standard unsecured business credit card.
As you pay your invoices your payments will get reported to the business credit bureaus. I always encourage my members to use a secured business credit card along with vendor credit lines because it will allow you establish a strong blend of account types on your files.
Some of the secured business credit cards we have listed report solely to one bureau like Corporate Experian while others report to two or all three of the major business credit bureaus. Keep in mind that your deposit is only used to pay off the debt in the event that you default on making payments.
As soon as you receive your card you can start using it to make purchases for your business. When you charge a purchase just simply pay the invoice when it comes due. Now remember the whole purpose of using the card is to build credit so don’t be late on your payments. After six months you can request that your account be reviewed for a credit limit increase without requiring a larger security deposit.
Some other benefits of a secured business credit card include:
- Universal Acceptance
- Cash Back Programs
- Online Expense Management
- Easy Funding Options
Before you apply you will need to have your company’s business license, articles of incorporation, address verification, federal tax ID#, banking reference and general business information. You will also need to list authorized users and how many cards you are requesting.
You can send your security deposit via wire transfer and typical turnaround times take 7-10 business days. Keep in mind that before you select any secured business credit card make sure you read the terms and conditions completely and verify which business credit bureau they report to.
Another advantage to using secured business credit cards is the separation between your personal credit and business credit. In my opinion these types of business credit cards are ideal for every small business owner because it not only establishes business credit but also controls spending, eliminates personal liability and protects your personal credit files.
Looking for the best secured business credit cards? Become a member of my Business Credit Insiders Circle and gain access to a proven step-by-step business credit building system. A system that provides you access to secured business credit cards, vendor lines of credit, fleet cards, business credit cards with and without a personal guarantee, funding sources and lenders that report to all the major business credit bureaus. Submit your name and email below for details and receive a free audio seminar ($597 value) =>
Marco Carbajo is a business credit specialist, author, speaker, and founder of the Business Credit Insider’s Circle. He is a business credit blogger for AllBusiness.com, a subsidiary of Dun and Bradstreet and author author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in American Express Small Business, Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.
Getting Business Credit Can Be Simple
Getting Business Credit
As small business owners recover from the recession it’s hard to imagine that getting business credit can be simple. However, the largest use of capital from business to business is the use of vendor credit lines which happens to be the single largest source of small business lending in America today according to the SBA.
So what is vendor credit?
Vendor credit is when a company, like an office equipment supplier, allows your business to purchase products and pay for them at a later date. Typically the terms range from Net 15, Net 30, Net 60, Net 90, or even Net 120 payment terms. These vendor credit lines work like a charge card meaning that the balance must be paid in full on or prior to the due date. Rather than struggle with getting business loans from financial institutions vendor credit also known as trade credit is an excellent option for new and existing businesses.
The primary benefit to getting business financing with vendor credit lines is that it will provide your business with thousands of dollars in products and services it needs up front while allowing your business to defer the payments for later. This helps you conserve cash flow for more critical short term expenses your business may have. The flexible payment terms also allows your business plenty of time to pay the invoice when it comes due.
A second benefit is vendors report your positive payment experience to the business credit bureaus. The more vendors you are getting corporate credit and payment experience with the stronger the profile you will build. This alone can positively impact the size of the credit limit recommendation for your business which is determined by dun & bradstreet and publicly disclosed on your file. As a result getting a business credit card without a personal guarantee can be much easier for your company to obtain.
However, one of the biggest mistakes made by small business owners is assuming that every vendor reports their payment history to the bureaus. Currently there are over 500,000 vendors who extend lines of credit to businesses but less than 6,000 report your payment experience.
So if getting corporate credit to build business credit history is a must be sure to select vendors that report. Be sure to also ask what agency they report to and how often they report. You can verify this by inquiring with a vendor that you plan to apply with. If this sounds like too much work then I suggest joining my Business Credit Insiders Circle and gain access to our premium vendors, credit sources, and much more.
One of my favorite aspects to getting a business line of credit with a vendor is the minimal qualifications required for approval. In many cases an application only requires your business contact information, Federal Tax ID#, Dun & Bradstreet#, authorized name and signature and not your social security number or personal guarantee.
The specific vendors requesting only this information will pull a business report to base their approval which makes building business credit with trade suppliers much easier and more convenient compared to credit cards or loans. A prime example of one of these types of vendors is a company called Quill.
Quill offers a net 30 account and reports to Dun and Bradstreet. Best of all they report your payment history every 30 days. For small orders you can get approved if your business has a listing on the 411 directories and a working website. New businesses can start out with smaller limits that will increase when you pay on time every month.
I also encourage every one of my client’s to join my Business Credit Insiders Circle. As a member they gain access to all the information, sources, videos, audios, and content not available to the general public. In addition each month we report their membership payments to Dun & Bradstreet!
As you can see getting business credit with vendor credit lines can be an ideal source to fund short term needs at the same time provide your business a way to build a strong file while avoiding the use of your personal credit and guarantee.
To access business credit insider secrets, premium vendors, leasing companies, business credit cards, and lenders that report to all the major business credit bureaus become a member of my Business Credit Insider’s Circle. Submit your name and email below for details and receive a free audio seminar ($597 value) =>
Marco Carbajo is a business credit specialist, author, speaker, and founder of the Business Credit Insiders Circle. He is a weekly columnist for Dun & Bradstreet Small Business Solutions, a business credit blogger for All Business & American Express Small Business and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in The Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.
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