DIY Corporate Credit Series: Using a Free DUNS Number to Obtain Corporate Credit
Dun and Bradstreet (D&B) makes it possible for new start-ups, entrepreneurs and small business owners to get business credit. This is done by starting a credit profile with D&B using what the organization calls a D-U-N-S number. You can always get a Free DUNS Number directly from D&B.
6 Benefits of Getting Your FREE DUNS Number
What is a D-U-N-S number? DUNS stands for Data Universal Numbering System (DUNS) number. It’s a 9-character, unique identification number which identifies your company’s location.
Here are six lucrative benefits of getting a free DUNS number from Dun & Bradstreet:
- Universal Recognition – DUNS numbers are the most widely used identification numbers for US businesses. Most banks, lenders, suppliers, vendors and other creditors use D&B credit reports as determining factors for granting corporate credit.
- Establishes Credibility – Your DUNS number shows potential creditors that you care about the corporate image of your business. It’s a sign that you plan to comply with D&B business regulations and are willing to make your company’s information publically viewable.
- SSL Certificate – If you decide to apply for an Extended Validation (EV) SSL secure certificates for your website or other type of SSL certificate, having a free DUNS number will speed up the validation process. No document verifications will be needed.
- Federal Government Contracts – You must have a DUNS number in order to apply for Federal government contracts. Without one, you won’t even be allowed to register for them in the SAM, the System for Award Management.
- Federal Government Loans – If you plan to apply for a loan from the Small Business Association (SBA), you’ll need a DUNS number. Without one, you won’t have access to this type of corporate credit.
- Applying for Corporate Credit – Your DUNS number gives potential creditors access to your D&B credit report. This makes it much easier to get approved for business loans and corporate credit lines. Instead of going through a lengthy verification process, lenders, banks and other creditors can simply run your company’s D&B credit report for quick access to references and credit history.
* Remember that you can always get a FREE DUNS number directly from Dun & Bradstreet online.
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Tune in tomorrow when we continue this series with ‘DIY Corporate Credit Series: Get Your DUNS Number Free’…