If you're building business credit for a company, one of the basic steps is to get a DUNS Number from Dun & Bradstreet. This article explains what a DUNS number is, why it's important, and how to get one for free.
What is Dun & Bradstreet?
Dun & Bradstreet, Inc. is a corporation that specializes in data analytics for businesses. D&B is headquartered in Millburn, NJ. The company offers current information on more than 300 million global businesses. It also issues DUNS numbers.
What is a DUNS Number?
DUNS stands for Data Universal Numbering System
. A DUNS number is a 9-digit identification code for businesses. Every DUNS number is unique to the company it represents. No two DUNS Numbers are the same. A DUNS Number serves as the beginning point of a company's Live Business Identity. Multi-location companies will be issued a separate DUNS Number for each physical address.
How to Get a DUNS Number
Getting a DUNS Number is free and easy. There are two options: telephone and Internet. You can call D&B toll-free at (866) 705-5711. Simply tell the operator that you need to apply for a DUNS.
You may also register for a DUNS number online at http://fedgov.dnb.com/webform
. Whether you call or surf, you should have the following information available:
● Your company's legal name, address, and phone number
● The legal structure of your business (LLC, Inc., etc.)
● Number of full- and part-time employees
● Name of the company owner or CEO
● Year the company was established
● Primary type of business
D&B should not charge a fee for issuing a DUNS Number. There are no obligations to purchase any service or product from D&B to apply for a DUNS Number. It typically takes 2-3 days to get a DUNS Number for your company.
Why are DUNS Numbers Important?
All types of businesses that wish to do business with the US Government are required to have DUNS Numbers. This includes sole proprietorships, partnerships, limited liability companies, corporations, non-profit organizations, and governmental organizations.
A company's DUNS Number stays with it throughout the lifecycle, maintaining current information about the name, address, legal structure, and financials.
Effectively building business credit requires a DUNS Number. It is required to apply for business bank accounts, telephone and Internet, vendor accounts, credit lines, and loans that will be needed to help the business thrive. Genesis Business Credit
helps business owners and aspiring entrepreneurs to obtain the resources they need to launch, operate, and grow their companies. We are experts at building business credit and arming our clients with the knowledge and tools they need to exceed their business goals. Sources https://www.dnb.com/duns-number.html