How do I Create Business Credit File for Free?

Business sucess shouldn't depend on your personal credit.

Creating a business credit profile is one of the most important steps to ensuring your business future. Most small business owners don't realize that business credit can be entirely separate from personal credit. Small business owners for years have put not only their personal credit at risk but their entire livelihoods for the success of their business, only to see them fail and lose everything. But it doesn't have to be this way.



When talking about credit files, the first names that come to mind are typically TransUnion, Experian and Equifax. These names are recognizable because they are the companies that handle our personal credit, and while Experian dabbles in the business credit sector, they are far behind the industry leader--Dunn & Bradstreet (commonly known as D&B).

Instructions

Applying for an Employee Identification Number

1. Go to the "IRS--Employer ID Number" section of the IRS website.

   See the link below titles "IRS--Employer ID Number" for direct access.

2. Find the link titled "Apply for an EIN online" and click on it.

3. Answer all of the questions.

4. Select the option to "Receive my EIN electronically online." This will prompt a download window in your Internet browser.

5. Save the file in a place where you will be able to easily find it later. The desktop is the best bet.

Creating Your Business Credit File

1. Go to the "Get Started--Get a D-U-N-S Number" section on the Dunn & Bradstreet website.

   See the link in the Resources section titled "Get Started Get a D-U-N-S Number" for direct access to this page.

2. Enter your business name and city in the boxes provided and press "Search."

   D&B requires you to search to make sure your business doesn't already have a D-U-N-S Number.

3. Select the "Apply" button.

4. Enter the required information following the onscreen instructions. The more information you can give the better.

5. Select the free option. D&B will try to convince you to pay for expedited service which would guarantee that you'd have your profile setup in less than five days. Part of its sales pitch is if you choose to not pay it can take up to six weeks to set up your profile. Typical wait time is 10 to 21 business days for the D-U-N-S number.

Tips & Warnings

• The IRS only accepts online EIN applications during the following hours: Monday to Friday, 6 a.m. to 12:30 a.m. EST; Saturday, 6 a.m. to 9 p.m. EST; and Sunday, 7 p.m. to 12 a.m. EST.

Resources

• IRS: Employer ID Number
• D&B: Get Started Get a D-U-N-S Number
• All Business: Awesome Business Credit