hi everybody dave sullivan here for the credit guy tv this time i want to talk about business credit i had a question a wile ago about business credit and how it gets established business credit really is the foundation for one of the main
Free Background Check No Credit Card, repositories that eventually became experian they started out as a business credit bureau and it still is a big part of their business right now
when you are talking about business credit there is on one place to go and that is dunn and bradstreet they work very much like the big 3 repositories and the old time credit industry you create an account with them and make sure your creditors report to them now there is no electronic
transfer of information or very little i should say most of it is still done by someone calling and verifying the information and adding to the credit file but once you get a duns number and i will walk you through that in a second they you kind of officially registered. once you register with them and get your dunns number
when you go to make an application with the bank they are going to ask you for that you give them your dunns number and they they have some sort of credit to look at aside form your own personnel credit when you are starting out fist step is to get over to d & b .com the main website
here and look for the d and b dunn's number now if you are going to do business with the government you can just get a gonverment d and b number there is no cost for this one if you go through a reagular dunn's number there is a couple hundred dollar fee
i would recommend if you are just starting out there is no difference between the two and to add business credit you are going to have to go back and and pay for that anyway so you may as well start out with a dunn's number for free select your country then continue then start now put in r business name now
dunn and bradstreet to see the new businesses that are being created but if you are small or just starting out will scan the new business register they may not have any information on you put ir n you if there is a similar type of business it will pull that up and then fill out all the required information out . then enter in the
information at the bottom in an effort to save time i will pick it back up after i enter this information i will posse it right now in the effort to save time i hit next and it came back up some identity challenge questions with is very much like ordering your free credit report on creditreportdotcom i will fill these out and pit it up on the next screen
nexxt screen is more company onfromation othe business names toll free number fax number company website i would think that information would be very important verifying the address what type of corporation do you have year business started is very important
if you have a lot of people if another company owns more than 50% of the business or companies with a similarity or generic company name if you were able to search the d and b data base you could search for businesses that are minority owned these are going to be very important if thos is the case i suggest that you fill this out based on that information by the way i got hung up on
the pop up blocker so you are going to want to allow pop up's it did not bring something up it did not allow me to bring up another screen you need to be aware of that it did bring up my wife's company it matched it up by address my wife has a d and b number
nut her business has been open for twenty years they do search other data basis and try and get business information as time goes by if you have a new company they will not have anything on them we will fill out the management information then hit next
nest add the sic code this is a lot like the categories that you fill out for your taxes enter education en the total number of employees 1 primary place of business owner watch out for the pop up blocker
we have a summery of the information it asked me why was i getting a dunns number i listed my reason then hit next then click submit the price was $0 i would recommend using this type of number when you are starting out it will take one business day
to be investigated they do a background check and verify all the information that is great a dunn's number says that yes you were we have investigated you and it is a ligament business step two is after you get the number you have to provide
some credit data it is very much like the old time credit business where you provide the company with venders and they call and verify with the vendor it is dollar waited i will make another video on what the scores represent i am going to go in depth on the video
it is dollar weighted so the creditors that you spend a lot of money with those are the ones that you will want to provide so establish my business credit then scroll down to the bottom and right here update my i have a website and a dunns number already get the dunns registered smart seal
it will cost money to build business credit for $70 bucks a month you can add 4 creditors it is important to build business credit this way i think it is the best way to do it you get a score
anytime some one searches for your business on d and b your company will show up there you have it that is how you get a dunns number for free experian is a little bit diffrent i will make a followup video for that i wanted to start with dand b
inquiries do not count agent you with d and b i will make another video about the score they are the big business credit data base
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