What is the best, cheap and easy way for a brand new business to get a Duns number and a positive score?

For a brand new business looking to get a DUNS number and start building a positive business credit score in a cost-effective and straightforward manner, here's a step-by-step approach based on current information and practices: Getting a DUNS Number: Application: You can apply for a DUNS number for free through the Dun & Bradstreet (D&B) website. The process involves providing some basic information about your business, such as its name, address, and contact details. This number is crucial because it's how your business is identified in the D&B database, which is used by lenders, suppliers, and partners to check your business's creditworthiness.

Timeframe: It typically takes up to 30 business days to receive your DUNS number for free. However, if you need it faster, an expedited service is available for $229 to get your number within eight business days. Building a Positive Business Credit Score: Establish Business Identity: EIN (Employer Identification Number): Obtain an EIN from the IRS, which is free and serves as your business's federal tax ID. This helps separate your business from personal finances. Business Address and Phone: Ensure your business has a dedicated address and phone number, which can be virtual if needed, to appear established and legitimate. Open Trade Accounts: Net-30 Accounts: Apply for net-30 accounts with suppliers who report to D&B. Paying these invoices on time or early can positively impact your PAYDEX score, which D&B uses to assess payment history. Companies like Uline, Grainger, or even local vendors might offer these terms. Vendor Reporting: Ask your suppliers if they report payment history to D&B. If not, you might need to use services like D&B's CreditBuilder™ Plus, where you can submit trade references for verification, though this might come at a cost. Business Credit Card: Apply for a Business Credit Card: Many cards for new businesses require a personal guarantee and are based on your personal credit score initially. However, by using the card for business expenses and paying it off promptly, you can start building business credit. Look for cards that report to business credit bureaus like D&B, Experian, and Equifax. Payment History: Pay On Time: Always ensure invoices and credit card bills are paid on or before the due date. Early payments can boost your PAYDEX score significantly. Monitor Your Credit: Credit Monitoring: Use free tools like D&B's CreditSignal to keep an eye on your business's credit score. Regular checks help you address any discrepancies or issues quickly. Avoid Overuse of Credit: Manage Debt: Keep your credit utilization low. High utilization can negatively impact your credit score. Long-Term Strategy: Build Slowly: Understand that building a robust business credit profile takes time. Consistent, responsible credit behavior over time will lead to better scores. By following these steps, a new business can begin to establish a DUNS number and start the journey towards a positive business credit score without significant upfront costs. Remember, the key is responsible financial management and leveraging opportunities where suppliers or services report your payment behavior to credit bureaus.