Business Credit

Building Business Credit for Small Business

You are here: Home / Archives for business credit solutions

Business Credit Builder: Dun & Bradstreet Product Review Part 1

By

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

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.  
Protected by Copyscape Online Plagiarism Detector

Business Credit Builder: Build Business Credit History in Record Time

By

Business Credit In Record TimeGetting listed by using one of DNB’s business credit builder products is one way to get your company on the fast track to build business credit history fast. Once you’re listed you should focus your attention on getting positive payment experiences added to your file in order to generate history and favorable business credit scores.

 

This can seem like a tough task because you have to make sure that the suppliers, vendors, and lenders you have an already existing payment experience with will now start reporting to your newly established business credit files.

 

In addition, there is no way for you to confirm which company is reporting to your file because the business credit bureaus do not disclose what business is supplying the payment data.

 

Plus, you have to worry about new vendors and suppliers reporting as well.  One of the biggest mistakes made by small business owners is assuming that every vendor reports their payment history to their corporate credit file.

 

Last but not least what if the specific vendor or supplier your business has a good history of payment experience with is not set up to supply payment data to the business credit bureaus? One of my new clients who had been in business for over 15 years recently got listed with Dun & Bradstreet and contacted one of his suppliers to let them know of his new DUNS number. He was excited because he had a 10 year solid track record of payment experience with them and knew that this could benefit his newly established corporate credit file. Unfortunately this supplier was not a trade reporter with D&B so needless to say he was not happy.

 

Fortunately for you and my client there is a way to solve all these challenges and build company credit in record time!

 

One of the largest credit builder companies, Dun & Bradstreet offers a unique program ideal for new businesses that need to quickly build business credit history. With this program you have the ability to submit your company’s trade references that D&B will contact to collect payment experiences and report them to your file.

 

This allows you the opportunity to add your company’s good trade references to your business credit file with D&B and it doesn’t even require them to be a trade reporter with D&B. Best of all you can establish a Paydex score in a matter of weeks depending on how many references you supply to D&B to contact.

 

One very important thing to keep in mind is you cannot submit credit cards, gas or utilities as trade references to D&B.

 

The two business credit builder services I’m referring to are CreditBuilder Plus™ and CreditBuilder Premium™.

 

This is how you can build a business credit file in record time and benefit from doing what you’ve always done as a business owner. The only difference is now you have a business credit report that shows how responsible your business is in handling its financial responsibilities.  This can make the process of obtaining credit and business financing for your company much easier.

 

*You can add trade experiences using D&B’s program but be prepared to pay a substantial fee. This is an option but keep in mind there are other business credit bureaus you will also need to establish a file with such as Corporate Experian and Small Business Equifax. To access 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) =>

 

To Your Success!

Marco Carbajo

About the Author

Marco Picture 2009 Super Small pic

Marco Carbajo is a business credit specialist, author, speaker, and founder of the Business Credit Insider’s 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.  

CATEGORIES

RECENT POSTS

CONNECT WITH US