Building business credit

Some government loads request a d&b number.

 

I have a DUNS number. What's your goal with using the number. Are you just trying use it to get a truck?

(Just wanna make sure im on the same page with you).

 

Bank of America required me to have one to get paid on the military loads.
Wasn't needed if you went thru a broker.

 

If you want business credit without using your ssn then yes you will need one.

If your trying to get a duns number Monday and hoping to go to a dealer on Wednesday to get a truck not going to happen. Like someone said before takes a good 2 years to build up your business credit.

 

Why would the bank need it?

We've haul a lot of military under the authority part of the business.

 

Question for Bank of America.
They asked, I provided. I got paid.

 

Tyrone -
First step is making sure that your business finances/banking is 100% separate from your personal finances. You will want to make sure that you have a DUNs number and have established profiles through Experian and Equifax (the three major business credit bureaus). Then you need to establish credit, it's best to start off with a small line like a business account through Staples. When you open business loans/lines/leases or vendor accounts you will want to make sure they report to one or all of the business credit bureaus (you would be surprised how many do not report). You also want to make sure that they do not ask for a personal guarantee, if they ask for your SSN then look elsewhere, this will eliminate personal liability & help build/establish your business credit.
Hope this helps!
- Tracy

 

Just remember that no matter what, there are liabilities you carry as an owner of that business and if they detect fraud, then it is on the owner.