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Friday, August 26, 2005

Building My Company's Credit part 2

Following some of the advice from the site in Steve's comment, I went to Dun and Bradstreet to request a D&B number. They have a section where you can check to see if you already have one because 1 out of 2 companies requesting a number already do. It turns out, my company does! So I requested it online. A short while later, I got an email saying they couldn't email me anything because the information I provided didn't match what they had in their records, and to call in. So I called and gave them my company's name and they found me. They asked for some additional information to complete their profile and then they told me my number. Based on their questions, I think my company has a plus - because my largest investor is a woman and she owns at least 51% of the company, I qualify as a "woman-owned business." That will probably help obtaining loans down the road.

If you do call in, watch out for the upsell. (Watch for it on their website too.) All you need is a D&B number. They will try to sell you a whole credit building package. The one on the website is $499 and the one they pitched on the phone was $799. For the purposes of building business credit, you really don't need these (from what I've read).

3 comments:

Steve said...

Glad my info helped, and double-glad you got things done. I still need to get a dang business started before I even think about all the other stuff. :-/

tmtb said...

Another good source of information is SOHO Business Credit. A teeny plug, feel free to remove it.

Be very careful with DNB, they also send you e-mail and claim that your file is not valid if they call and you refuse to answer or refuse their Credit Builder service. Did you also get a user name and password so that you can check online to see what was on your file?

Also, check here for your Experian business credit report. You have to pay for their report.

Shaun said...

The D&B username and password are being mailed to me. The woman on the phone said my file was empty right now though. I did refuse their credit builder server and they didn't complain. Thanks for the links.

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