Establishing Business Credit

Good credit is not a bad thing in any way....

erh

You may want to start small and then build up business credit either starting with small bank installment loans and a business credit card. Your lines of credit should increase as you use the credit and repay in a timely basis. Inquire at your local banks about installment loans and ask if they report this to credit bureau agencies. Believe and Achieve! - Joe

I'm not worried about trying to get some credit, what I am most worried about is Dunn and Bradstreet rejecting my attempt to get a duns number. I am running my corp on my own and I am worried about losing my "shot" at business credit.

Thanks,
Vern

Hi Vern;
when u are on the D&B website check to see if you already have a number when I filed my LLC paperwork I was automatically given a number. There is a spot on there website that lets you recover your exsisting number and then send it to you via your email you registered when u set up your corp. It will look and bring up your business then u can request your existing number that's could be the reason it keeps rejecting u.

I have a home based business and a phone line. I have a phone hooked up to it that rings 2 times then goes to my answering machine. I have not once answered that phone for any reason. I registered with D&B and didn't hear anything at first about my duns number so I called them. I asked why I haven't received my number and they give you there speech about how you need to buy the credit builder. You can buy it if you want (and it does help) but you don't need it to get a number and to start receiving credit. Just tell them you don't want it and they will give you your number. It takes like 30 days to receive it. If you don't get it in 30 days then call them and they will give it to you over the phone along with your eupdate password!!

P.S. If you want the credit builder of if anyone else on here does just call them up and say Hey I heard that you are having a special on the credit builder and 9 times out of 10 they will give it to you at a discount!!!

Goodluck
Shaun

I agree with Shaun and what Joe said; I researched one year ago several companies that establish and build business credit; at the time, none of our advisors had used a company; My experience was mixed; I did wind up with a nice paydex score, a D&B account, a full record and about 11 vendor or trade lines of credit, all foundational.
Some of the tips they gave were ALWAYS answer your phone with your business name and the same on the machine, but were vague about the personal guarantee on B>LOC. I've done it both ways. cut this short... that company, taking mymoney every month, changed to just "assisting" and thus, I fired them.
In building your portfolio, especially for local banks and credit unions, I do believe that it is important to get established with D&B, ask for and perhaps pay that "special discount" they're offering and get that rolling.
grady

Thanks a lot for your input everyone, I'm going to give them a call today or tomorrow, we'll see how it goes!

This is ironic, because I was having this conversation with someone earlier about incorporating my business, opening up a business account and building up some credit. From reading this, I have a clearer understanding of what I have to do build business credit.

For anyone who cares or wants to do more research on business credit I would recommend looking at [edit: please do not post emails or phone numbers]
(Admin I forget if I'm allowed to post other sites so if I'm in the wrong please remove) His site is kind of confusing at first but he has a lot of good info on there. He has a list of tradelines that report right away to D&B and how you can receive a Paydex score of 80 in less then 3 months I believe. He has some videos that you can watch on his site and a lot on your tube.

Good Luck,
Shaun