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  • Joy Greenwood

Creative Business Credit-building


Did you know that you can have a hand in crafting how your business is represented in your D&B report? After all, you — more than anyone else — knows your company inside and out. While D&B is tasked with gathering raw data, your hand is the one on the brush that paints a picture of who you are, what your company does, and how creditworthy your business can be.

When a DUNS number is generated, D&B creates a very generic credit profile based upon information that is readily available, whether that is provided by local, state, and federal agencies, third party resources, or autoreporting vendors and creditors. They lay down a white sheet of canvas for your non-specific business as it compares to others in your same area, same size, same age, and same industry.

But none of those businesses you are being compared to are YOUR business, and that's why it is so important that you have a hand in crafting a commercial credit report that fully represents your company's capability. Until you make the effort to sharpen the lines, your D&B report is not positioned to impact credit approvals, bids, interest rates, or anything else.

A perfect example...

I spoke to a woman the other day who has owned and operated her "computer clinic" for nine years. For every one of those years, her company has struggled to grow beyond where it first started. She had never been able to achieve any type of sustainable credit for her company, had never even looked at her D&B report, and had no idea what was in there or who (if anyone) was reporting payment history into the file.

When we checked, we found a D&B file that was created for her company at an old address she hadn't used for more than seven years. The phone number was wrong. She was not listed as a principal. There was no employee count. And her industry SIC code had her tagged as being in "Health/allied services" [????]... which means that whoever it was (at D&B) that created the original DUNS profile was either not fluent in American terminology or not smart enough to know the difference between a "computer clinic" and a "medical clinic".

[Shall we insert a seriously over-dramatic eye-roll here?]

History has proven that businesses can be critically impacted by factors that are within their control as much as (or more) than factors outside their control. But this ONE factor — misidentifying someone's corporate SIC code — can have far-reaching impacts, determining a company's risk ratings, financial status, longevity, credibility, and credit limit recommendations. The fact that her business has survived as long as it speaks volumes about tenacity, capability and determination.

Together, we submitted a dozen different data updates to D&B that day, so I expect she will probably be on a more credible path within a week to ten days, and that path will start at the point where she achieves scores and ratings that actually represent HER business (not some nonexistent healthcare clinic at her old address) and hopefully, will end with her blasting past any goals and expectations she had before she called into Starpoint for answers.

YOU are the most prominent factor in determining how far and fast your company will go. It is your responsibility to make sure the D&B data is up-to-date and accurate, and that your report is in a position that enables your company to get the commercial credit it needs, whether that credit comes in the form of net 30 terms with your suppliers, leasing or purchasing fleet vehicles, short-term funding solutions, bank loans and lines of credit, or SBA financing to long-term sustainability.

How can you positively impact your D&B business credit profile today?

  • Use the free D&B iUpdate® portal to review details and payment history

  • Provide up-to-date and accurate information annually

  • Challenge inconsistencies any time you see them

  • Hire Starpoint Credit Solutions to build, boost, monitor, and maintain your D&B file

If you are unsure about how to build and maintain a more creditworthy corporate credit profile, free information is available here for those who want to start taking the necessary steps. Our free DIY Training Base will walk you through every step.

Would you rather let us handle updates, credit-building and score-boosting for you? Just reach out. I'll be glad to take on the task of getting your business the credit it deserves.

CLICK HERE to schedule a free one-on-one consultation if you need assistance.


Our Business Credit Basics Blog

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D-U-N-S® is a registered trademark of D&B® and Dun & Bradstreet®.
Starpoint Credit Solutions LLC is not affiliated with Dun & Bradstreet®, however we recommend their products to our clients to assist in the creditbuilding and monitoring process.
Starpoint Credit Solutions LLC
11504 Joy Street   |   Austin, TX 78748
Phone / Fax  (800) 918-7505
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