How to Build Corporate Credit Using a Dun & Bradstreet Account
A Dun and Bradstreet account can help build corporate credit by providing all of the company's financial data, illustrating a business plan and having them rate the company. Get a high rating from Dun and Bradstreet to gain corporate credit with information from a financial manager and currency trader in this free video on finance.
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I'm Roger Groh. Today we're here to talk about how to build credit using Dun and Bradstreet. In the old days, Dun and Bradstreet's job was to go and identify companies that thought they might want to borrow money. They would commit you, they would write you a letter and you would and you would respond to the letter; they would commend your company and they would review all of your financial statements. They'd look at your taxes, they'd look at your business plan going forward and they would give you a credit score. Sort of like, today that you get one after credit reporting companies. But the difference is in Dun and Bradstreet, they were looking forward. The credit companies job is to look backward. So today it works the same. Call Dun and Bradstreet, invite them into your company, be prepared to give them all of your financial data; don't be shy about it. Let them understand what your business plans are going forward, the amount of money that you're going to need going forward and that tell them specifically where do you think you might go to borrow that money. They'll issue a report that they'll give to you. A report, there will also be a line that any lender can access; they have to pay for it, but they can access. And then when you go in to borrow money, your bank or institution will be able to pull up the Dun and Bradstreet rating and the amount that you pay, the rate that you pay and the money that you borrow will depend upon the exam that they've given you. One other thought; if you don't like the results of the exam that they give you, do another one. Write another business plan, change the amount of money that you put in. And you're still showing them your financial data, but give them a different view of what you might need going forward. I'm Roger Groh and that's how you use Dun and Bradstreet to build your corporate credit history.