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Aaron Y posted a new Financing A Business thread on 2/6/2011

Does it make sense to pay D&B $450 to be registered with them?

Hi,

I received a call from Dun and Bradstreet offering me to be listed with them. They claim that they are maintain the credit record for businesses. Up until now I have used my own personal credit, and I am not sure that this is worth the money.
Anybody has some more experience with this?

Thanks.
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Aaron Y Responded on 2/8/2011


Thanks Joseph. This is exactly what I was thinking.
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Roy Propsner Responded on 2/11/2011


Come to think of it, after sixteen years with a D&B number, cannot say it ever did me any good. It does on ocassion get me a call from D&B trying to sell their services. I also imagine the true meaning of the infrequent calls from D&B telling me that someone is checking my history, is only meant to sell me on their further services. So, I agree with Joseph.
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Rene Fennell Responded on 2/11/2011


you don't need to pay for a "duns" number, d&b will provide you that number even if you decline the salesman. when he calls and tries to offer the credit optimization just politely decline the offer .... even if he/she pressures you just say you don't need that service at this time. If you are a start up you really don't start ups can't get credit without a personal guarantee until after being in business for 2yrs. once you're able to get the sales person off the phone 2 weeks later you should get your duns number in an email.
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Rene Fennell Responded on 2/11/2011


let me also add. Your duns number is more used to establish trade lines of credit with other businesses rather than banks. if you wanted to establish a tab with an office max or pitney bowes and you didn't want to use your personal info then the company wouldl pull your duns number. Municipalities also check your duns number to check the legitimacy of your company.
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Sean Brooks Responded on 2/12/2011


Aaron, using your personal credit can be a major problem in business. If the business goes under your taking a major financial hit. You must first incorporate to start receiving lines of credit under the busines that's available. Just like in your personal life, you need a credit score. A business credit score is what any major company runs on anyone attempting to win a contract with them. Yes most companies charges $2500 to $5000 or they take 20% of the money when they get you a line of business credit. Its a reason why Donald Trump never uses his own money for projects. Now you do not have to pay D&B but I would recommend if you want to leverage your business that you learn how to access the available credit lines availble. You may want to expand, you may need better equipment, you may want to pay off your personal credit. As a business owner you need to know how to do this - its a process. I found this company that can assit you if you want the information let me know.
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Duane Wall Responded on 2/1/2012


D&B is the primary go to company when there is a need to check your business credit. Experian has a considerable piece of this market as well. However, it is important to shield yourself from the liabilities you may incur as previously suggested in some of the responses on this post. The easiest way to get a D&B credit file going is by having one of your vendors report to D&B about your payments to them. They will then be forced to open a credit file for your business. You'll then have to follow up with them to ascertain access to the file. I don't know all the ins and outs about doing this but this is a strategy that works to get the file initiated. Hope this helps.

By the way, the number that they give out for free, according to them, is not for credit file use.
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