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Another issue is that many business owners don’t know how to interpret their business credit score, which is on a scale from 0 to 100, not the familiar scale of 300 to 850 that comes with your personal credit score. For example, lenders aren’t required to tell you that you’ve been turned down for a loan based on your business credit score, whereas they do for your personal credit. Your business credit score is treated a little differently from your personal credit.
This makes Dun & Bradstreet an ideal credit agency for major lenders and the federal government to use when considering doing business with companies.ĭun & Bradstreet produces a business credit rating system that assesses businesses in terms of their creditworthiness and financial health. Dun & Bradstreet, on the other hand, only deals with business credit. You’re likely already acquainted with well-known credit bureaus like Equifax, Experian and TransUnion since they provide your personal credit score. What Is Dun & Bradstreet?ĭun & Bradstreet, or D&B, is the oldest credit bureau in the U.S. Read on to find out what a Dun & Bradstreet rating is, and how it affects your business. All types of companies across the globe use this agency to evaluate firms they’re considering doing business with. One of the most well-known business credit agencies is Dun & Bradstreet. Your company’s business credit history is therefore critical when it comes time to get a business loan or sign contracts. Your company might be a great idea on paper, but in the eyes of lenders and suppliers, an unknown business could mean big risk. When attempting to get a business loan or contract a deal with a supplier, the lender and supplier need a way to determine if your business is worth working with. Running a company almost always entails some form of borrowing or contracting for your business.
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