Establish Business Reports with
Duns & Brad
Dun & Bradstreet is one of the business credit agencies that you will meet in this process. The 9-digit DUNS number identifies your business credit profile with Dun & Bradstreet.
Set your #DUNS
That all your records match, because you will be reviewed
Your address must be listed with the North American Postal Service
DO NOT SHARE
Do not share your Business Address, to avoid having erroneous reports
The system will ask the business owner's criminal record questions and verify the information
What is a # Duns?
If you don't have a DUNS number yet, don't worry, we're here to help.
Below is a link that will take you to the section where you can request it for free.
Your business profile is set up with Dun & Bradstreet when you request a DUNS number, which in turn allows business accounts to establish that they must report to Dun & Bradstreet.
YOU ALREADY KNOW THAT when applying for your DUNS number you must use the exact same business name and business address that you provided to the Secretary of State and the IRS.
Creditors will verify the business information in your report against the public record. If there are variations, it can lead to a denial.
As always, feel free to call or email us, we want to make this as easy as possible for you.
Here are some tips when applying for the Duns # free:
Use Correct Business Information - Itis important that your business name, address, phone number, and other business information are correct on your business credit report.
The information on your business credit report and all other business records must be consistent.
If possible, the business should have a real physical business address.
A physical business location can add business credibility.
Your business address must be a real address listed with the United States Postal Service.
For example,if you are using a suite number that is not a suite listed with United Postal Service, lenders or business credit bureaus cannot verify your address. Also, do not share a business address with another company to avoid reporting problems.
Be prepared to answer verification questions.
The D&B system will ask personal background questions to verify the business owner.
This ensures that a real and authorized person establishes the commercial DUNs.
If you find that you are having trouble with the D&B website, make sure you have updated your browser and Java. If this still does not resolve the issues, you may need to call D&B customer service to request your free Duns #.
Get started on the D&B website and click "get a #DUNS". Use the segment notes for the appropriate link.
The system will ask if you are a US government contractor requesting a # DUN. If you are not facilitating a government contract, select "no".
Now enter the business name and address to search D&B for an existing D&B profile.
If the company does not have an existing profile, click to set up a free # Duns.
Enter the name and title of the business owners.
Then fill in the business contact information, including email and business phone number.
Next, the address of the people and the mobile phone for identity verification.
Lastly, include the business name, business address, and business phone number.
On the next page, you will be asked for additional business information, including your SIC code (Standart Industrial Classifications or Standard Industrial Classification).
The Standard Industry Classification is a number that is assigned to a certain industry . The D & B Duns # application form will ask for your SIC code.
If you are not sure what your number is, click the SIC button and enter a keyword to search for your code. For example, if you are a consulting company, you will enter "consulting"in your keyword search. The closest match and number will be displayed so you can select the desired number.
Once you have applied for a DUNS #, your profile will be created. It takes D&B an average of 2 weeks to email your DUNS number. D&B will contact you to sell additional products. The D&B sales team is quite aggressive in their sales tactics. It is important to understand that you do NOT "have" to make a purchase.
Common phrases business owners will hear from D&B sales reps:
"You have inquiries about your business credit that you need to buy monitoring."
"Your business profile will not be activated unless you buy this." -
"You can't build business credit without this ." Keep in mind that these are sales tactics.
Review our monitoring segment that describes the products and services that D&B offers so that you can make the most profitable decision.
If your company already had a D&B profile but the information was incorrect, you can
update your existing profile with the correct information.
13. To modify an existing D&B profile:
- Sign up for D&B business credit monitoring
- Submit your correct information through online monitoring record.
- Get ready, D&B will verify the information before updating your D&B profile.
Note: Youdo not have to submit your business financial information. In fact, we recommend
Leave this out until you have solid financial information to submit.
14. When selecting D&B monitoring, you will have two options. D&B Monitor and D&B Credit Building.
We will review these options in more detail within the D&B monitoring segment. That's
an envelope, now your D&B profile is established.
Establish Business Reports with
The goal of Step 2.2 is to see if your company is already on the Experian list and to see if there are any discrepancies that can be fixed using the instructions in Step 2.4
Your report is automatically created like your business creditors report.
Be sure to select creditors who report to Experian.
use your account
Use your new or existing business credit account by making a purchase.
pay on time
Once your invoice or invoice is generated, make your payment to report to the business credit bureau.
However, it is important that we analyze this further.
When applying for business credit with lenders, it is important that you select lenders who report to Business Experian. Most lenders do verify business credit, but most lenders do not report payment history to all 3 business credit bureaus. Some creditors only report negative payment history.
Once you've verified that the creditor reports a positive payment history, it's time to apply for business credit.
PLEASE NOTE THE FOLLOWING CONSIDERATIONS:
1) Make sure you complete the applicationwith the correct business information, the same information that is in your business records. Creditors will go through an approval process where they will verify the information provided in the application against their existing business records and / or business credit reports.
2) Sometimes a creditor doesn't approve the first time.Remember to follow up with the creditor to find out why the deal was not approved. Sometimes a phone call and a manual review will turn a rejection into an approval. The initial response is generally generated from an automated underwriting process.
3) Once your account is approved, it is time to make a purchase,using your new business credit account. Please note that you must use the credit account to create a business credit history. It is the payment that is reported.
4) After you have made your purchase, wait for your invoice or invoice to be generated.
If you make a payment too early, the creditor may not report the payment because it was made before the credit terms were used.
5) It is important that you pay your bill on time.Late payments can be reported to your business credit report and have a major impact on the credibility of the business.
6) The creditor generally takes 1 billing cycle (or 30 days)to report your payment to the business credit bureau. The business credit bureau then takes up to 30 days to match the payment history received to your specific business credit report. This means that it can take up to 60 days for your payment experience to appear on your business credit report.
7) Once your business credit history is established with a creditor, we recommend requesting increases within the recommended time frames.Some lenders will only allow you to request an increase every 6 months. Others as early as 3 months and some as long as 1 year. Applying for increases further increases your business credit history. Lenders tend to mimic the highest approval amount reported, as you move that needle up you can expect higher approval limits in the future.
SEARCH TO SEE IF YOUR COMPANY HAS AN EXPERIAN REPORT
SEARCH TO SEE IF YOUR COMPANY HAS A BUSINESS EXPERIAN REPORT
IF YOU ARE NOT SURE, DON'T NEED TO WORRY, USE THE FOLLOWING LINK TO SEE IF YOUR COMPANY HAS A PROFILE WITH BUSINESS EXPERIAN.
No es necesario comprar monitoreo ahora, lo guiaremos en la configuración del monitoreo en el Paso 4. Si su empresa no figura en la lista, no es necesario que se preocupe, se creará a medida que obtenga cuentas de crédito comercial en el Paso 3 / Nivel 1.
Establish Business Reports with
The goal for Step 2.3 is to see if your company is already listed on Equifax and to see if there are any discrepancies that can be fixed with the instructions in Step 2.4.
If your Registered Address matches the Current Address
Those records that are wrong or do not match your current data
The ideal way to do it without wasting time. Ask if you have doubts.
Make sure the changes were actually made.
Is your Equifax report established?
Your business Equifax report is created as your business credit accounts report payments to Business Equifax.
Your payments must be made on timefor the creditor to report a positive payment history. A late payment can damage the credibility of your business.
Once your payment is submitted, your business credit account will report your payment transaction to Equifax business.
Always keep these considerations in mind:
1) It takes 30-60 daysfor your payment to appear on your business credit report.
2) Make sure the information reported is correct.Using your monitoring service when you applied for your credit account
3) It is important that you have used the correct business information, including business name, address, and payment details. (It is these details that are reported to the business credit bureau.)
4) Once established, continue to build and monitoryour Equifax trading report.
How to repair your Commercial Credit?
The goal of Step 2.4 is to understand how business accounts should be reported. Also to correct inaccuracies with the Commercial Credit Offices.
It's best to start by preventing inaccuracies in your business credit reports.
With the information that you use to create the commercial account, because it will be the information that will be reported.
If you use variants of your company name or business address, you will have multiple reports with each agency.
What can you do about inaccurate records now? You can edit it but you must provide supporting documentation.
Take the time to read this:
Where do you start when we talk about building
a successful business credit report?
It's best to start by preventing inaccuracies in your business credit reports.
How can you as a business owner prevent inaccuracies in your credit report?
Create your business credit accounts correctly:Your business credit reports are generally created when your creditors report a payment history to the credit bureau. The information that you use to create the account with your creditor will be the information that will be reported. Business credit is different.
When business creditors report your payment history, they report your business name, address, and payment information. This means that if youuse multiple variants of your business name or business address, you can have multiple credit reports with each agency. As you use the same information on all trade credits, the payment data will match in a single credit report. For example, if you use "ABC Builder Inc." with its lumber supplier, but "ABC Inc." At your office supply store, you will have two different credit reports for your business because the business name you used at each business was different.
Your business record should always present the correct information. This includes entity documents, bank accounts, licenses, and more. For example, the business address of your business on your entity documents must match the business address used to create the business checking account.
Monitor your business credit reports.Business credit is different from personal credit. Just as it is important to monitor personal credit reports, you should monitor your business credit reports to keep track of changes. This is the best defense against inaccuracies. Now that you've done everything to prevent inaccuracies, what can you do to clean up any inaccurate information now? Start with your creditors.
Update your business name, address, and contact information with each business creditor to make them consistent.As they report the information correctly, the commercial credit report will be updated. For example, if you have a business credit account with Staples Office Supply Store, but you find that it was originally created with an incorrect business address, you can update the address to reflect the correct one. After updating the information with each of your creditors, you can contact the credit bureaus directly to update the information.
You can update your old business information on D&B bylogging into your free account monitoring purchase account. Once logged in, edit your business information. Some factors can be adjusted, such as the date of incorporation, official or financial data. To edit these items, you will need to call or email D&B directly. Note that you will probably need to provide supporting documentation.
If the documents do not match the changes you have suggested, the information will not be updated.
Special Note:D&B may flag accounts if they believe a business is dishonestly trying to create a business credit report. All the information you provide must be proven.
You can update your information with Business Experian by going to www.BusinessCreditFacts.com .
You may be asked to verify yourself as an authorized person to make the changes.
Business Equifax will ask you to update your information through your creditors. After multiple billing cycles, if the errors have not been corrected, you can also try contacting customer service, although we have found that this does not work. Check the course notes for links and contact numbers. Please correct incorrect payment history. From time to time, your payment history may be incorrectly recorded. There is a dispute process, but credit bureaus and creditors are legally bound by regulations to report credit history correctly just as they are with personal credit.
D&B allows you to dispute any incorrect itemsthrough the D&B monitoring account. Keep in mind that your disputed account will be removed for a time while the account is investigated. If the item is found to be valid, it will be reapplied to your business credit report. This verification process usually takes 2 to 8 weeks.
Business Experian requires that you contact theircustomer service team.
Business Equifax requires that you contact theircustomer service team, or you can click the "Dispute" button in your Business Equifax monitoring account. See course notes for links and contact numbers.
Once you have entered the information to the credit bureaus to be updated, it will take time for the corrections to be reflected. You should be able to keep track of the process while monitoring credit reports.
Keep in mind that if the changes do not occur in a reasonable time, you should contact the credit agency asking them to finalize the assignment or to verify why it is stagnant.
Once the credit reports of your business have been updated and you have verified that everything is in place ensuring that there will be correct reports from now on, you can continue to monitor the progress of the credit reports through the credit monitoring of the company.