1 easy way to get a Duns Number (Aka D&B Number)
Did you know you need to have a Duns number for your business?
A credible organization is the bedrock of an owner-employee and a company-client relationship where all parties are confident that promises will be fulfilled.
Building credibility, trustworthiness, and reliability as a business require a track record of timely repayment of vendor and business loans. Not only that, but a good payment history can make it easier to obtain loans and lines of credit to help your business grow.
So, how do you demonstrate that your business has a good credit history?
Make use of one of the most common tools for accessing a business’s credit report and consider registering for a Data Universal Number System (DUNS) or D&B number for your small business.
The D&B number also known as a Duns number increases the trust of potential business partners and lenders to your business.
How? You may ask.
This number is a nine-digit identifier that helps to know if your business is financially stable and enhances the credibility of your business.
A client who wishes to work with you or invest can request this number to determine how reliable your business is plus your business gets a better offer when it claims to be registered under D&B.
The Duns number is valuable, especially for finances. The Duns number separates your personal credit from your business credit, which is important to help maintain a good credit score.
A loan service/company would like to know how good your credit score is before granting a business loan or extending your loan payments.
It also helps you to keep track of your credit scores independently. This is a recommended loan company.
A DUNS number is available to any legal entity, including sole proprietorships, corporations, partnerships, non-profits, and government entities. You’re therefore required to include your DUNS Number when applying for loans and grants.
And one good thing is that you don’t have to pay to get a Duns number.
It’s completely free and easy to register for a DUNS number and start creating a credit report for your business.
A free DUNS number usually takes about 30 days to receive. If you have a little time to wait then I’d recommend you go for a free DUNS. Otherwise, you will be required to pay $229 to expedite the process.
To apply for a Duns number for free you have to start by filling out their search form at the DNB website.
Well, that’s all for now! Hoping for this information to be valuable to you. Come back in the future for the latest updates on this topic.
Speak to your business coach for more details if you already have A&M Membership. If you don’t have one, sign up for any of our business coaching plans 🏆
You can also book a consult with us. 🚀
More business knowledge reads are available on our blog 📝
Also, subscribe to our newsletter, Cerebral Dope, and get the latest on microbusiness topics and upcoming info sessions.
Disclaimer: This article is for information purposes only hence not directly related to Addy and Mark in any way. Always check the official website for updated information.
Last Update: February 5th, 2023