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Establishing business credit

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Tamagawa
Member

Establishing business credit

Hello everyone.  I'm an American citizen currently living overseas.  About 2 years ago I established an LLC in the US for the purpose of investing in Real Estate.   I am currently in a business credit building program.  I would like to obtain lines of credit for my LLC so that I can be able to invest in real estate.  So far I have opened up net 30 accounts and in addition have a few business credit cards such as Home Depot, Staples, Office Depot, Wright Express and HSBC Costco.  I have set up a local phone number that is listed in 411 directory assistance and as far as the business address, I'm using a virtual office service that has mail forwarding services.  My D&B Paydex score is at 80.  I recently contacted D&B recently to update my business info and when I checked my credit report online today I was shocked to see the following listed in the notes section of my report:

 

>>On Apr 8 2011, a check of records with directory assistance confirmed the  captioned phone listing and address for the company name. Investigation with outside sources revealed the N 24th St address to be an executive suite facility that provides shared and virtual office space, mail and phone services. 

 

Being that I live overseas my only option was to have a virtual office that provides mail forwarding and phone services.

 

>>In addition, a review of D&B records show that the original report for the subject company was created on Jun 15 2009 at the company's request. This request was made through D&B's Federal Government Registration process. It is noted that as of Apr 8 2011, there is no record of the company registered with the Federal Government's Central Contractor's Registration program. 

 

Regarding this I was told that If I applied for a DUNS number as a Government contractor then I would get my DUNS number in 3 days instead of the 30 that it usually takes.  This was my fault as I wanted to get my DUNS number asap.

 >>It is noted a review as of Apr 8 2011 shows that since its inception, the company's file has experienced a high number of updates at the request of the business principal(s). Also, it is noted that from September 2009 to March 2011, there has been a high number of inquiries on the company's file, which advises D&B that the report is experiencing a high-end amount of customer activity. 

 

Regarding the updates, at first I was using my friend's mailing address.  Then I changed it to my mother's mailing address and then finally to the current address I'm using.  Regarding the number of inquiries, I'm not sure what they mean as I haven't applied for any credit in over 9 months or so.  Perhaps this is from companies that check my credit report for preapproved offers.

 >>As a matter of interest, a review of D&B's historical records shows that a company, which was assigned a higher-risk status by D&B in February 2011 due to informational discrepancies, made an inquiry on the D&B file of the subject company in March 2011.

 

If a company that is listed as a high risk with D&B checks my credit report, what bearing does that have with my credit report?!  I don't see how that should affect my company credit report in any way! 

 

Anyhow, I was reading that unlike personal credit, with business credit once you get red flagged it stays on your credit report and does not come off over time.   Does anyone out there have any advice as to what I can do?  Does this mean that everything I've done so far to establish business credit has just gone down the tubes and I have to start over from scratch again??? My Business Experain credit report is in decent shape and my personal FICO scores are all over 700.  I heard that credit card companies and banks will use Business Experian instead of D&B when they do a credit check.  If that is the case then am I alright as I don't need to establish any more new 30 accounts but lines of credit and credit card accounts instead. 

 

Any thoughts and suggestions would greatly be appreciated.

 

Thank you,

 

William

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