Building Business Credit for Small Business
Do you have a viable business?
Is it capable of growing, functioning, and developing as an independent entity? 
These are important questions any business, investor, or business partner would want to know prior to doing business with you. While you may be familiar with D&B’s Paydex® Score, which is based on your company’s payment performance, the new viability rating analyzes the current and future health of your business.
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In the past several posts we covered a variety of ways you can get the necessary cash to grow your business. From business credit cards, to revenue based loans to even using your 401k for funding to name a few. In this post we’ll cover something quite different. 
Are you familiar with a merchant cash advance?
Now I know what you’re thinking so don’t worry, I’m not going to cover the typical merchant cash advance, remember I said this was something really different.
If you’re not familiar with a merchant cash advance, it basically provides a business with upfront cash in exchange for a portion of future credit card sales. Now if you ever had to deal with typical merchant cash advance providers you’re probably familiar with all the paperwork, merchant statements, costly fees, and waiting periods you have to deal with.
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Last week we explored your D&B number, its importance, and how to obtain one. This week we’ll look at business credit scores and what drives them. 
Let’s face it; business credit score ratings can be confusing. Each business credit reporting agency uses various metrics in calculating its business credit scores. For example, Dun & Bradstreet uses up to 875 payment experiences to generate a company’s PAYDEX® Score and up to 80 payment experiences are reported in your business credit report.
So without getting into all the various scoring models, formulas, historical analysis and all that jazz, let’s talk about what you can do on a company level to maximize your business credit scores.
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What do 225 million companies spanning across 190 countries all have in common?
They all have a D&B Number.
So what is a D&B Number? Why is it important? How does my business get one?
In this post I will be covering everything you need to know about the DUNs Number and more importantly the key role it plays in establishing a creditworthy business.
A D&B Number also known as the D-U-N-S® Number or Dun & Bradstreet ID Number is a 9 digit number that is unique to each business that has one. This numbering system, known as the Data Universal Numbering System, was developed by Dun & Bradstreet back in 1963 in order to help standardize business information.
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Thinking about taking money out of your 401(k) to start a business?
Becoming an investor and owner of a business does have many benefits but you should be very cautious about using your nest egg. More importantly there are significant legal steps you need to know so you don’t end up making costly mistakes. 
Pulling money out of your 401(k) isn’t simply a decision of writing yourself a check. Do this wrong and you risk paying a 10% penalty if you are under the age of 59 ½ plus incomes taxes anywhere from 35%+ depending on your current tax bracket.
Let’s put this in perspective.
If you pull out $100k out of your 401(k) it can cost you $31k of that money in penalties and income tax. So instead of $100k you now have only $69k to invest in your new business. Ouch! Not too worry, the good news is rather than losing thousands of dollars of your hard earned money there is a better way.
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