Building business credit can be a time-intensive pursuit, but there are ways to expedite the process. For example, a necessary first step in the process is registering your business with a credit reporting agency like Dun & Bradstreet. This can take up to 30 days, but using their credit building tools, that time-frame can be lowered to 5 days or less.
Similarly, there are tools available to facilitate quick and easy credit report monitoring, and the submission of credit payments, trade references*, and more. Depending on your business and credit needs, a wide variety of tailored options exist that can help fulfill them — while avoiding the time commitment that credit building normally requires.
An efficient, effective credit building service can be the difference between constantly playing “keep up,” and gaining control over your credit score.
Why Use Credit Building Tools?
Once you have received a D&B D-U-N-S® number, which is used by businesses, creditors, and governments to identify your business and make inquiries into your financial credibility, you can then begin to submit credit payment and financial information.
Reporting your business’s financials is useful in building business credit as it gives potential lenders the transparency and insight they need to make a decision. Risk management is paramount when it comes to issuing credit and there’s no substitute for first-hand, voluntarily reported credit history in doing due diligence.
How to Use Credit Building Tools to Get Business Credit Fast
So how can online tools expedite that process? D&B DUNSFile® provides some of the basic services that a business of any size would need, including expedited D&B D-U-N-S® number acquisition, easy business credit file creation, and monitoring tools that allow you to see the same ratings and scores that creditors look at when they inquire about your business.
CreditAlert is another great tool that sends immediate notifications whenever there are changes that affect your business credit score. CreditMonitor does the same, but also gives more detailed reports and performance benchmarking against your industry and your competitors.
*Trade References will be added subject to D&B® verification and acceptance. Please see http://www. dandb.com/glossary/trade-references/ for eligibility, process and other information regarding Trade References.