D&B Worth a Hoot?

[Anonymous]

Recently we (S corp.) applied for a floor plan from a large monster bank subsidized by one of our suppliers.

In the process of their due diligence, they seemed surprised they could not find much on D&B about us.  When we assured them we have been in business many years, they seemed to no longer care about this issue and we got approved easily.

Fast forward a couple months, we got a letter from D&B that we had an inquiry and our info was not complete with them.

I have not given D&B a thought for years, as they seem to be all about fishing for small fees.  Would it be worth filing anything with them or should we continue to ignore them?

[NimbusIII]

Large banks tend to lend a fair amount of weight to D&B but more so if your financials are young.  Companies typically over 5 years with solid book keeping and strong revenue typically will not have a problem gaining approvals from these institutions as your actual financial history is a stronger indicator than a D&B evaluation.  If the new Financial Institution your working with is going to be reporting to D&B it wouldn't hurt to "update" your information but I certainly wouldn't pay anything to do so.

[Creditaddict]

I'm looking for flooring, What company??

2. You can verify yourself with D&B for free... that's ALL I would recommend doing. Don't pay for a thing!

[Anonymous]

The bank is WF but it is specified and subsidized by the mfr. of the gear we are selling. I would be interested to know if there is a good deal out there for continuing flooring. In case the clock runs out on our stuff. We might have to pay and hold.

[Anonymous]

Can you offer any advice on the free D&B registration or whatever? Last time I looked [years] they were trying to trick you into doing something you didn't want at every turn.

[Creditaddict]

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@Anonymous wrote:
Can you offer any advice on the free D&B registration or whatever? Last time I looked [years] they were trying to trick you into doing something you didn't want at every turn.

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They typically will start calling and offering credit builder, etc. just say you would like to activate the free D&B and verify your number.

[mikesonthemend]

Received a call from them today. Sales guy was fairly friendly. Sent me information on Credit Builder Basic (no price provided) which basically fast tracks your Paydex Score creation and allows you to submit 4 tradelines unknown to them for them so they may verify and add to your file.

I asked him to call back in 6 months.  Thus far only my Business Experian has produced a score on NAV.