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Getting Prepared
Funding Programs
Required collateral
Can't qualify for a loan anywhere? Find an Opportunity Finance lender
Equity investors
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Participate in Trade Reporting:
A win-win-win for you, your customers and your vendors.
Businesses develop credit history through a voluntary system operated by Dun & Bradstreet. Participating companies upload their
accounts receivable each month. Until recently, this process has been
difficult and costly for small businesses to participate in.
However, now there is an easy, free way to establish a business credit history. Dun & Bradstreet has a program called D&B Trade Exchange, where businesses
using Quickbooks can easily report their accounts receivable information into the system.
There are three major benefits you can receive by using this system, and one benefit your customers will receive:
Benefits to you:
- You can build an excellent business credit score by getting 5 vendors to use the system, put you on a 30 day net payment system
and report your payments.
- You can report your customers' payment practices, giving them an incentive to pay you quickly.
- Each month that you upload the information from your Quickbooks (which takes a minute), you are able to go into their system and get a free business credit report for a
company (a $109 value). You can use this to check on your own Paydex score or to check on a potential customer.
Benefits to your customers:
- You can help your customers build a good credit score by reporting your Quickbooks information once a month through this system.
The program is strictly voluntary, so you don't have to do it every month. You will also receive an automatic email reminder.
Click here for program information. If you are signing up or are providing a link to your vendor, use this link: http://www.dnb.com/us/duns_update/trade.html.
Another way to build credit: D&B service will call your vendors
For a monthly fee, Dun & Bradstreet will call your vendors to create a credit score for your company.
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