Virtually all small businesses need a loan at one time or another. The first hurdle to getting a loan is your business credit score. Most businesses have a D&B number or a business credit file. To check your business, you should call D&B at 1-866-785-0430 or their website http://iupdate.dnb.com/iUpdate/mainlaunchpage.htm. If you don’t have a DUNS number you can easily apply for one.

Now that your business is running make sure you are building good credit. Setting up a commercial banking account and paying you bills on time are major factors to building good credit. One has to consider that there are many factors that affect your business credit file and DUNS credit score, such as number of employees, industry, liens or levies on your business.

Another factor to consider with DUNS credit reporting is that you can evaluate how much credit you can give, and to which customers, as well as check on the credit file of your vendors to evaluate if they are a stable company to do business with.

Business credit counseling

When your company needs a loan to help your business expand, move to another location or a line a credit, one small mistake or oversight on your application can lead to a denied application. With Guardian™ credit counseling, we can help you prepare for your bank application so you have the best chance getting your loan or line of credit approved.

  • Business Profile
  • Loan request
  • Collateral
  • Business Financial statements
  • Balance Sheets from last 3 years
  • Income Statements
  • Cash Flow projections
  • Account Receivables
  • Personal Financial Statements