At some point, bad internet advice convinced business owners they could “skip” the Social Security Number on credit applications and plug in an EIN or DUNS instead—and it’s been causing chaos ever since. In this post, I break down what each of those nine-digit numbers is actually for (tax identity vs. business credit identity vs. personal identity), why they’re not interchangeable, and how using the wrong one can trigger fraud alerts, denials, and long-term headaches for you

If you're planning to spend money on holiday gifting, buying those gifts now (and doing it the right way) could mean that many of these "seasonal" purchases get reported to the commercial credit bureaus and count toward boosting your business credit scores and ratings. Sometimes it can be as easy as creating a new account in your business name and paying for your purchases using your business debit or credit card! Reach out to me directly if you want to boost your business cr

Think your business credit is “set and forget”? Your Annual Business Credit Check-Up is the simple once-a-year routine that helps you catch score drops, outdated company details, missing tradelines, and reporting errors before they cost you approvals, limits, or better terms. In this post, you’ll learn what to review, what to update, and how to keep your business credit profile accurate, active, and lender-ready all year long.

Right now, while everyone else seems to be standing still and waiting to see how things will turn out — innovators will be charging forward. Head up. Back firm. Shoulders braced. Undaunted. It's not that they are unafraid... They just understand that fear and uncertainty has motivated some of the greatest successes in our nation's history. Reach out to me directly if you want to be prepared for every potential opportunity by boosting your business credit scores and ratings i

D&B's new security process requires that specific owner's information be entered into the system to verify a principal's identity in order to gain access to the site — and they'll need to undergo an intense identity verification process that may include QR codes, selfies, and accessing your business bank account to verify your ownership. If you need help accessing your file via D&B's new DUNS Profile Manager, give me a call. I can help you get access within just a few minute

People complain when their payments to lenders and financial organizations aren't reflecting in their D&B business credit report. Their frustration doubles when they can't submit those lenders and creditors as "trade references". What they don't realize is that some of those transactions may actually be showing up, but in the Small Business Financial Exchange... and that could be a much bigger benefit for their business. Reach out to me if you want to boost your business cr

Most small business owners view business credit inquiries in the same terms as personal credit inquiries, but — in reality — that couldn't be further from the truth! While there are certain circumstances where having your D&B report pulled could count against your company, understanding business credit inquiries, how they impact payment history, and how they impact scores and ratings is a crucial part of the creditbuilding process.

Whether you sell groceries, houses, newspapers, slacks, cars, cupcakes or cannabis, the details of your business are as intricate and individual as the fingerprints on your front door glass. While you might share similar types of suppliers based upon your industry, you'll likely use a different plumber, or advertise in a different market, or buy your business cards from a different printer. Reach out to me directly if you want to add your existing payment history to your bus

If you've ever placed a fraud alert or block on your personal credit report, frozen it due to possible identity theft, or worked with a credit repair company to remove derogatory information you suspected or claimed wasn't yours, you may find that your business credit applications are in a state of lock-down. Personal credit freezes and claims of fraud can block potential creditors from being able to validate your identity, which is a requirement in establishing new business

Hindsight is always 20/20, which is why most successful small business owners say their biggest mistake was using personal credit to support their company's financial needs. If you are struggling to achieve business credit for your small business, you may want to see if you are guilty of making any of these most common mistakes. Sometimes you need to ask yourself the hardest question: Are you hurting your company's credibility?

When you're first starting a business and income is limited, you need to pinch every penny and make sure you're spending every dollar as wisely as possible. For most small business owners, that starts in the decision about how you're going to structure your business, because the last thing you want to do is cripple your new company and destroy your own personal FICO scores in the process. The pennies you pinch here could cost you a fortune later.

There are two questions I ask new clients: What was the last thing you purchased online? (and) What are you shopping for right now? How they answer those questions is an invaluable tool in determining ways they can continue to build and boost their business credit capability with very little effort. Sometimes, something as simple as creating an online account with a supplier and making a purchase using your business debit or credit card can do more to boost your scores more t

There are some credit consultants who tell their clients to use a virtual address so they look more corporate or professional. Unfortunately, what they don't tell their clients is that trying to pass off a virtual address or mail-drop location as a physical address can actually cause more harm than good. Using a virtual address can actually corrupt your corporate data and make your business appear less credible. Reach out to me directly if you want to understand why.

Pretend for just one minute that you're the owner of a little coffee shop and diner down the street. It's unlikely all of your daily needs would come from just one distributor, so it's easy to identify areas where you might need to have multiple suppliers. Your business is going to draw from an equally diverse group of suppliers specifically suited to your company's day-to-day business needs, and you're probably going to have multiple vendors for many of the products or serv

As you may have noticed, much of the training I provide focuses on the importance of adding payment history to your corporate credit report as a means of boosting your scores and ratings. But today, I'd like to provide a little insight into what a huge difference you can make when you add the right kinds of vendor and supplier payment history to your commercial credit report. Your company's creditworthiness is one of the most important representatives you have.

Are you like Sam? Sam told me he didn't have any vendors. He said, "I don't have any credit. All I ever use are local guys and small businesses who have probably never even heard of D&B." "Like who?" I taunted. "Just throw a few names at me to see what I can find." Sam started listing off some of his contractors and companies he'd worked with. In the fifteen minutes we were on the phone, I found all 7 of those companies in D&B's system. And then 16 more. And then 4 more.

Wondering who reports to Dun & Bradstreet (D&B)? Learn how vendors, suppliers, contractors, and service providers can help build your business credit profile, which trade references qualify, and how manually submitting eligible payment experiences may help improve your PAYDEX score—without spending money on unnecessary purchases. While most business owners understand the need for a Paydex score, they may not know the fastest way to get one.

Any time your business applies for credit or opens a new vendor account, there is a high probability that the creditor or supplier will check your business credit report. If your company has established a credit profile with one or more of the major corporate credit bureaus, an inquiry will be generated. For the most part, inquiries are a normal part of doing business and help validate your business information, strengths, needs and viability.

You're completing a credit application, and everything is going smoothly until you reach the section at the bottom. You know the one—where you're asked to provide a personal guarantee—and suddenly, you pause. Why is it that, despite your efforts to keep business and personal credit separate, suppliers or lenders want to combine them again? It feels like hiring a divorce lawyer before even getting married!

Getting approved for business funding is actually not as difficult as some might think, especially if you have a good grasp of what specific information lenders are looking for from your company, such as how many years you've been in business, what industry you're in, and what your base income and expenses are.