STEP #4 - DUN & BRADSTREET FILEEstablishing your business credit file can help you to: Increase the likelihood that others will extend credit to you Obtain better interest rates and terms from banks and lenders Lower your insurance premiums (such as workers' compensation) Make it easier for business partners to assess the risk of doing business with you Maximize your earning potential by ensuring that you have a complete and up-to-date business credit file with D&B. What is the D-U-N-S Number? The D&B D-U-N-S Number is a unique nine-digit identification sequence, which provides unique identifiers of single business entities, while linking corporate family structures together. In today's global economy, the D&B D-U-N-S Number has become the standard for keeping track of theworld's businesses. |
STEP #5 - VENDOR & TRADELINE PROFILEGet approved from our list of vendors which will allow you to earn the right to a credit line. With this stepping stone you are well on your way to building business credit. We will recommend specific companies, you should open accounts with; they are likely to approve you prior to having a paydex score. These accounts are the foundation you will use to get approved for retail credit accounts. Any credit item that appears on your credit report is considered a "tradeline". A "seasoned tradeline" is one that has been around for awhile. Once you've opened active accounts and purchased something from each of the vendors we can move on to Step 6 -where you will report trade references
Click Here To View Steps 7-8 |
STEP #6 - RETAIL REFERENCESDefinition:
A reference given by one company to another regarding the creditworthiness of another company whom it supplies with goods. It is usual for two or more trade references together with a bank reference to be requested by companies prior to supplying goods |