Business Credit Secrets Revealed
Table of Contents: The Steps of Business Credit
1) Know the Dos and Don’ts Before You Start—Or Else!
2) Choose your Business Entity
3) Get a Duns Number
4) Get a Paydex (and 2 other Scores)
5) Apply for Unsecured Business Loans
Step #1 - Know the Dos and Don’ts Before You
You must know the Dos and Don’ts of Business Credit before you start.
Here are the Dos:
How Do You Get Premium Business Credit?
A One-Two Combination:
Dun and Bradstreet
Filing your Profile with Dun and Bradstreet
With 70 percent of the market share for business credit reporting, Dun & Bradstreet is the titan of
business credit profiles. The most important thing you can do is start your Dun & Bradstreet
profile and get your Duns number to start applying for credit.
Be forewarned: There are certain “Don’ts” you need to know before you start a Duns profile
for your business. With Business Credit what you don’t know can hurt you! Many businesses
get a Dun and Bradstreet business credit rating before they've taken other necessary steps, and
unwittingly damn themselves to a poor or “red flag” status, effectively dooming them for good
business credit before they start.
What exactly do you need to know to establish a positive Dun & Bradstreet profile for
maximum business credit? What are the “don’ts”? Basically, you must follow these “rules”
and set up properly before you call Dun & Bradstreet to set up a profile. Here are the things
you must have to open the way to top business credit ratings:
You must have a tax ID number (getting a tax ID number is discussed in the next section
“Getting a Tax ID Number)
You need to have a phone number listed in the business directory of your local phone
company and more importantly, it must be locatable by the operator.
To get a top business credit rating, you must have 10 employees or more.
You must say you have been in business for 2-3 years or more, although being incorporated