topic Re: How Do YOU Become a Company That Reports to D&B, Experian, Equifax? in Business Credit

How Do YOU Become a Company That Reports to D&B, Experian, Equifax?

daveg38 — Fri, 07 Feb 2020 12:59:17 GMT

Thank you for reading this.

I have packaged my services into a bundle that I feel SMBs will benefit from.

I want to offer this "bundle" on Net 30-45 terms. I am not "flush with cash", but I can offer my goods with a 'buffer' (that buffer being an expected bad apple or two who get my stuff and do not pay).

My intention is to follow a similar guaranteed approval that Strategic offers (with similar offerings, except not outdated and with more value). I believe the minimum one can report is $50, so that will be the lowest "bundle" I offer.

Question: How do I get signed up to send data to these agencies? There has to be a process.

Re: How Do YOU Become a Company That Reports to D&B, Experian, Equifax?

Anonymous — Fri, 07 Feb 2020 21:22:09 GMT

When I saw the trash SNS and Summa were offering I wondered why someone did not come in and offer a better solution. So good luck to you. It could be extremely successful.

Here is an article from Nav on how to do it.

https://www.nav.com/blog/how-to-report-to-business-credit-bureaus-22568/

Re: How Do YOU Become a Company That Reports to D&B, Experian, Equifax?

Puppetmaster — Sun, 09 Feb 2020 09:51:57 GMT

@daveg38 wrote:

Question: How do I get signed up to send data to these agencies? There has to be a process.

I have considered doing this with Experian, but haven't pulled the trigger. My business' customers overall have an exceptional on time payment record within terms, and most are small businesses that could benefit from having anothe trade line reporting. The number of accounts I would be reporting is too small for D&B, plus I'd rather support Experian's more small business friendly platform. Although I can't be of any help in answering your question, I am interested in your experience if you pull the trigger before I do.

Re: How Do YOU Become a Company That Reports to D&B, Experian, Equifax?

daveg38 — Sun, 09 Feb 2020 13:08:28 GMT

@Puppetmaster, from my brief research, it looks like you need 300 accounts to report to Experian, and I do not see a minimum for D&B. Equifax, I cannot find much there.

300 accounts does seem like a bunch. With that said, I am going to reach out via phone to all three to see what the actual requirements are, and get signed up with those who have the lowest ceiling until I gain traction. Like you, I believe having more channels can only help the many biz owners who frequent this board, but I also want to make it worthwhile to those who want "low hanging fruit accounts" that don't require much to get a decent credit line (I'm thinking about reporting everyone with $3000 to help SMBOs get to that $10k threshold required for higher tier credit).

Note that while I will be mirroring some of what SNS does, the offerings will be more useful to the busy owner and helpful to those bootstrapping their new ventures with little cash to risk.