Sunday, November 27, 2011
Sunday, January 2, 2011
Invoice Factoring Companies Help Businesses Come Back from Recession
The last two years of bad economic times has closed many small businesses, and now, insofar as profits, surviving small business people nationwide are looking for ways to cut business costs in the New Year. Even as the last month of 2010 closes with hope for 2011, many smaller businesses are suffering. One solution is to find a factoring company.
There is documentation on the use of factoring companies in America some time before the revolution, when animal furs, cotton, and even materials such as timber were shipped from the colonies to Europe. That was when merchant bankers in London advanced funds to the colonists so that the Americans could continue to harvest their new land. During the colonial times factoring companies made financial advances, or in effect loans, against the accounts receivable of their clients, the Americans, enabling them to continue with their work.
During the Industrial Revolution when factoring became more focused on credit when they assisted clients in determining the creditworthiness of their customers and setting credit limits. It was the factoring company who could then guarantee payments for customers that had been approved, speeding up the process.
Today factoring companies are much busier - because this is the latest new way for small business owners to stay ahead of the game. If you have never heard about factoring companies then you should research the fact that this 4,000 year old business practice is widely used, because factoring allows companies to obtain short-term working capital to grow their businesses, stay afloat during tough economic times and improve cash flow.
Ever since the credit crunch banks have become stricter about credit, leaving small businesses that often find it difficult to attract conventional funding. Sadly many new business owners end up having to take out a home equity loan or worse, they must use credit cards to pay off their bills.
If you are a small business owner with outstanding invoices from 30/60 or 90 days, take the time to do some research online and look at the long list of factoring companies that can help you get the money now, so you can use it for business expenses that are critical going into the 2011. It's basically an advance on the money that is already owed to you by your customers.
Factoring companies like typically do a credit check on the client, make sure the sale represented has been satisfactorily completed and then they will notify the creditor that they have purchased the invoice, and then you will get your funding. At the end of the credit period the debtor pays the factoring company directly, thereby completing the transaction.
Every client's circumstances vary, which could have an impact on the fees charged for spot factoring, also known as single invoice factoring.g. So, you should definitely think about contacting one of many factoring companies to make them part of your business growth strategy today. It might save your business in the New Year to come.
------------------------
Kristin Gabriel is a marketing professional who works with The Interface Financial Group, North America's largest alternative funding source for small business. The company provides short-term financial resources including invoice factoring. IFG operates on a local basis with expertise in accounting, finance, law, marketing and banking. http://www.ifgnetwork.com
There is documentation on the use of factoring companies in America some time before the revolution, when animal furs, cotton, and even materials such as timber were shipped from the colonies to Europe. That was when merchant bankers in London advanced funds to the colonists so that the Americans could continue to harvest their new land. During the colonial times factoring companies made financial advances, or in effect loans, against the accounts receivable of their clients, the Americans, enabling them to continue with their work.
During the Industrial Revolution when factoring became more focused on credit when they assisted clients in determining the creditworthiness of their customers and setting credit limits. It was the factoring company who could then guarantee payments for customers that had been approved, speeding up the process.
Today factoring companies are much busier - because this is the latest new way for small business owners to stay ahead of the game. If you have never heard about factoring companies then you should research the fact that this 4,000 year old business practice is widely used, because factoring allows companies to obtain short-term working capital to grow their businesses, stay afloat during tough economic times and improve cash flow.
Ever since the credit crunch banks have become stricter about credit, leaving small businesses that often find it difficult to attract conventional funding. Sadly many new business owners end up having to take out a home equity loan or worse, they must use credit cards to pay off their bills.
If you are a small business owner with outstanding invoices from 30/60 or 90 days, take the time to do some research online and look at the long list of factoring companies that can help you get the money now, so you can use it for business expenses that are critical going into the 2011. It's basically an advance on the money that is already owed to you by your customers.
Factoring companies like typically do a credit check on the client, make sure the sale represented has been satisfactorily completed and then they will notify the creditor that they have purchased the invoice, and then you will get your funding. At the end of the credit period the debtor pays the factoring company directly, thereby completing the transaction.
Every client's circumstances vary, which could have an impact on the fees charged for spot factoring, also known as single invoice factoring.g. So, you should definitely think about contacting one of many factoring companies to make them part of your business growth strategy today. It might save your business in the New Year to come.
------------------------
Kristin Gabriel is a marketing professional who works with The Interface Financial Group, North America's largest alternative funding source for small business. The company provides short-term financial resources including invoice factoring. IFG operates on a local basis with expertise in accounting, finance, law, marketing and banking. http://www.ifgnetwork.com
Moving Averages And Candlestick Patterns-A Powerful Combination!
Moving averages are one of the most simplest yet the most widely used technical indicators. You will find almost every other trading system using moving averages in one form or another. Moving averages are just the average of the closing prices of a currency pair over a certain period of time.
Moving averages can be useful when you are looking to confirm a trend. The first rule of thumb when using moving averages is that when the currency pair price is above the moving average, an uptrend is in place. When you combine this with a bullish candlestick pattern you can get profitable entry and exit signals. Similarly, when price action is below the moving average, a downtrend is in place.
If you find a bullish candlestick trend continuation pattern forming above the moving average, it means the trend will continue for sometime in the future and you can safely enter into a long trade.
Traders use combination of two, three or more moving averages as they provide much stronger signals as compared to a single moving average. Using two moving average with candlestick patterns is a much better approach. One moving average will have higher number of periods like 20 days and will be slow moving whereas the second moving average will have lower number of periods like 10 days and will be fast moving.
So when the moving average with more number of periods is trading higher with the one with lower number of periods, the trend is positive. Suppose, you have a moving average cross meaning the slower moving average crosses above the faster moving average.
Suppose this is further confirmed by the appearance of a bullish trend continuation candlestick pattern like the bullish neck line pattern. This is a strong confirmation that the uptrend is firmly in place and will continue for some more time in the market. You can safely enter into a long trade.
However, many traders find it difficult to recognize trending candlestick patterns in time.
Now, there are more than 40+ candlestick patterns that are considered to be important trend reversal and trend continuation patterns. You can use a Candlestick Patterns Recognizer Indicator that can easily recognize anyone of these candlestick patterns and indicate the type on the chart. This way, you don't have to waste time figuring out what pattern has been formed.
Using the combination of two moving averages one slower and other faster like 10 days and 20 days moving averages with candlestick patterns can be powerful. Both confirm each other. Just like you can use bullish candlestick patterns in an uptrend to enter and exit a trade, in the same manner you can use bearish candlestick patterns in a downtrend to get entry and exit signals.
------------------------
Mr. Ahmad Hassam has done Masters from Harvard University. Master these highly profitable Candlestick Patterns with this FREE 82 page PDF Candlestick Guide.
http://www.ninjatraderblog.com/trading/2009/10/candlestick-patterns/
Try these Forex Signals from two top gun traders.
http://tradingninja.com/2010/10/the-forex-signals-2/
Moving averages can be useful when you are looking to confirm a trend. The first rule of thumb when using moving averages is that when the currency pair price is above the moving average, an uptrend is in place. When you combine this with a bullish candlestick pattern you can get profitable entry and exit signals. Similarly, when price action is below the moving average, a downtrend is in place.
If you find a bullish candlestick trend continuation pattern forming above the moving average, it means the trend will continue for sometime in the future and you can safely enter into a long trade.
Traders use combination of two, three or more moving averages as they provide much stronger signals as compared to a single moving average. Using two moving average with candlestick patterns is a much better approach. One moving average will have higher number of periods like 20 days and will be slow moving whereas the second moving average will have lower number of periods like 10 days and will be fast moving.
So when the moving average with more number of periods is trading higher with the one with lower number of periods, the trend is positive. Suppose, you have a moving average cross meaning the slower moving average crosses above the faster moving average.
Suppose this is further confirmed by the appearance of a bullish trend continuation candlestick pattern like the bullish neck line pattern. This is a strong confirmation that the uptrend is firmly in place and will continue for some more time in the market. You can safely enter into a long trade.
However, many traders find it difficult to recognize trending candlestick patterns in time.
Now, there are more than 40+ candlestick patterns that are considered to be important trend reversal and trend continuation patterns. You can use a Candlestick Patterns Recognizer Indicator that can easily recognize anyone of these candlestick patterns and indicate the type on the chart. This way, you don't have to waste time figuring out what pattern has been formed.
Using the combination of two moving averages one slower and other faster like 10 days and 20 days moving averages with candlestick patterns can be powerful. Both confirm each other. Just like you can use bullish candlestick patterns in an uptrend to enter and exit a trade, in the same manner you can use bearish candlestick patterns in a downtrend to get entry and exit signals.
------------------------
Mr. Ahmad Hassam has done Masters from Harvard University. Master these highly profitable Candlestick Patterns with this FREE 82 page PDF Candlestick Guide.
http://www.ninjatraderblog.com/trading/2009/10/candlestick-patterns/
Try these Forex Signals from two top gun traders.
http://tradingninja.com/2010/10/the-forex-signals-2/
How Long Will The Low Mortgage Rates Last?
Copyright © 2011 John Gough Rasor
Anyone who has kept an eye on the evening news or has read the paper lately has probably noticed that mortgage rates have been near 50 year record lows for the last couple of years. According to Freddie Mac, the average rate for a 30 year fixed mortgage was 5.00% as of May 6, 2010. The average rate for a 15 year fixed mortgage was 4.36%.
Mortgage money is extremely cheap right now, and rates may never be this low again. Of course, much of the public has likely become conditioned to believe the low interest rates are normal. After all, there have been thousands of radio, television and internet advertisements proclaiming "record low" rates for the last several years.
There are several reasons that interest rates have stayed so low for so long. The U.S. Treasury and the Federal Reserve began "manipulating" mortgage rates in late 2008 by purchasing mortgage-backed securities in the open market in an effort to reduce the supply, and thus lower rates. They did this in an effort to lower the borrowing costs for Americans purchasing homes to help buy up the oversupply of properties on the market due to the mortgage crisis. However, this program was recently ended on March 31, 2010, so rates may be going up soon. It was estimated that the government was purchasing more than 80% of the mortgage bonds on the open market.
Also, many other government programs, such as the program to purchase Treasury securities, have kept other interest rates low as well, which has trickled down to mortgage rates.
The fact that many institutional investors have also chosen to park their money into bonds instead of risking it in the highly volatile stock market has also helped to keep interest rates low over the course of the last two years. But many investors are starting to move their money back into other investments, such as stocks and commodities, as the larger investment community seems to feel that a bond bubble may be taking shape.
The fact is that interest rates will not stay this low forever. And consumers that are "sitting on the fence" waiting for the possibility that home prices will continue to fall should consider the fact that higher mortgage rates may negate any possible savings they may get if values do continue to fall. And home buyers in the Dallas Fort Worth area might be surprised to hear that home values have only dropped in their area by a few percentage points compared to 2006, which was the height of the real estate boom. The market is remarkably stable compared to many other areas of the country and many economists feel the likelihood that values will fall much more is unlikely.
------------------------
http://www.4bestrate.com is your one stop shop for home loans, credit cards, secured credit cards, prepaid cards, free credit scores and identity theft protection. Get the best advice for building or rebuilding your credit.
Anyone who has kept an eye on the evening news or has read the paper lately has probably noticed that mortgage rates have been near 50 year record lows for the last couple of years. According to Freddie Mac, the average rate for a 30 year fixed mortgage was 5.00% as of May 6, 2010. The average rate for a 15 year fixed mortgage was 4.36%.
Mortgage money is extremely cheap right now, and rates may never be this low again. Of course, much of the public has likely become conditioned to believe the low interest rates are normal. After all, there have been thousands of radio, television and internet advertisements proclaiming "record low" rates for the last several years.
There are several reasons that interest rates have stayed so low for so long. The U.S. Treasury and the Federal Reserve began "manipulating" mortgage rates in late 2008 by purchasing mortgage-backed securities in the open market in an effort to reduce the supply, and thus lower rates. They did this in an effort to lower the borrowing costs for Americans purchasing homes to help buy up the oversupply of properties on the market due to the mortgage crisis. However, this program was recently ended on March 31, 2010, so rates may be going up soon. It was estimated that the government was purchasing more than 80% of the mortgage bonds on the open market.
Also, many other government programs, such as the program to purchase Treasury securities, have kept other interest rates low as well, which has trickled down to mortgage rates.
The fact that many institutional investors have also chosen to park their money into bonds instead of risking it in the highly volatile stock market has also helped to keep interest rates low over the course of the last two years. But many investors are starting to move their money back into other investments, such as stocks and commodities, as the larger investment community seems to feel that a bond bubble may be taking shape.
The fact is that interest rates will not stay this low forever. And consumers that are "sitting on the fence" waiting for the possibility that home prices will continue to fall should consider the fact that higher mortgage rates may negate any possible savings they may get if values do continue to fall. And home buyers in the Dallas Fort Worth area might be surprised to hear that home values have only dropped in their area by a few percentage points compared to 2006, which was the height of the real estate boom. The market is remarkably stable compared to many other areas of the country and many economists feel the likelihood that values will fall much more is unlikely.
------------------------
http://www.4bestrate.com is your one stop shop for home loans, credit cards, secured credit cards, prepaid cards, free credit scores and identity theft protection. Get the best advice for building or rebuilding your credit.
Divergences Are Important Trend Reversal & Trend Continuation Signals!
Divergences are considered to be an important arsenal in the trading toolkit of a pro trader. Divergence happens when price moves in one direction and the indicator moves in the opposite direction.
Now any oscillator can be used to show divergence patterns. The most commonly used oscillators include RSI, Stochastics, MACD, CCI, ROC and Williams %R. However, any oscillator can show divergence with price action.
There are two type of divergences, 1) Regular Divergence and 2) Hidden Divergence. The primary and the most common is the regular divergence. Again there are two type of regular divergences; 1) Bullish Divergence and 2) Bearish Divergence.
In case of Bullish Regular Divergence prices make a lower low while the oscillator makes a higher low whereas in case of Bearish Regular Divergence price makes a higher high while the oscillator makes a lower high.
Appearance of a divergence pattern means a loss in momentum and trend reversal or consolidation. When this pattern appears take it seriously as it warns of a potential turning in the market.
The case of hidden divergence is the exact opposite of the regular divergence. Hidden divergence tells of the trend continuation. There are two type of hidden divergences, bearish and bullish.
In Bullish Hidden Divergence, the oscillator makes lower low while the price action makes a higher low whereas in the bearish hidden divergence, oscillator makes a higher high while price action make a lower high.
In the same manner, when the oscillator diverges from the prices in an uptrend in a bullish hidden divergence pattern, it means continuation of the uptrend. Some traders believe that the hidden divergence pattern is a far more trading signal than a regular divergence.
Spotting these patterns is now easy. You can use a divergence pattern recognizer indicator. There are charting software also that will send alerts on the appearance of a regular or a hidden divergence. You need to keep this in mind that divergences is not a complete trading system in itself. You will have to use other indicators in conjunction for entry and exit. However, looking for divergence for confirmation can increase your chances of success greatly.
------------------------
Mr. Ahmad Hassam has done Masters from Harvard University. Download this 1 Minute Forex Trading System FREE.
http://tradingninja.com/2010/02/1-minute-forex-trading-system/
Learn this powerful Fibonacci Retracement Method FREE that pulls 500+ pips per trade.
http://www.ninjatraderblog.com/trading/2009/10/fibonacci-retracement/
Now any oscillator can be used to show divergence patterns. The most commonly used oscillators include RSI, Stochastics, MACD, CCI, ROC and Williams %R. However, any oscillator can show divergence with price action.
There are two type of divergences, 1) Regular Divergence and 2) Hidden Divergence. The primary and the most common is the regular divergence. Again there are two type of regular divergences; 1) Bullish Divergence and 2) Bearish Divergence.
In case of Bullish Regular Divergence prices make a lower low while the oscillator makes a higher low whereas in case of Bearish Regular Divergence price makes a higher high while the oscillator makes a lower high.
Appearance of a divergence pattern means a loss in momentum and trend reversal or consolidation. When this pattern appears take it seriously as it warns of a potential turning in the market.
The case of hidden divergence is the exact opposite of the regular divergence. Hidden divergence tells of the trend continuation. There are two type of hidden divergences, bearish and bullish.
In Bullish Hidden Divergence, the oscillator makes lower low while the price action makes a higher low whereas in the bearish hidden divergence, oscillator makes a higher high while price action make a lower high.
In the same manner, when the oscillator diverges from the prices in an uptrend in a bullish hidden divergence pattern, it means continuation of the uptrend. Some traders believe that the hidden divergence pattern is a far more trading signal than a regular divergence.
Spotting these patterns is now easy. You can use a divergence pattern recognizer indicator. There are charting software also that will send alerts on the appearance of a regular or a hidden divergence. You need to keep this in mind that divergences is not a complete trading system in itself. You will have to use other indicators in conjunction for entry and exit. However, looking for divergence for confirmation can increase your chances of success greatly.
------------------------
Mr. Ahmad Hassam has done Masters from Harvard University. Download this 1 Minute Forex Trading System FREE.
http://tradingninja.com/2010/02/1-minute-forex-trading-system/
Learn this powerful Fibonacci Retracement Method FREE that pulls 500+ pips per trade.
http://www.ninjatraderblog.com/trading/2009/10/fibonacci-retracement/
Trendlines With Candlestick Patterns Can Give Accurate Entry And Exit Signals
Trendlines are one of the most simplest and the easiest technical indicators. As a trader, you should learn how to draw trendlines accurately. PRO traders always respect these trend lines. so do the Markets. When you combine, these trend lines with candlestick patterns, you can get highly profitable trading signals. Both supplement and confirm each other!
When you combine a bullish trendline with a bullish candlestick pattern or a bearish trendline with a bearish candlestick pattern, you will get a pretty accurate signal that tells whether you should stick with a position or exit it.
When you spot a trend continuation pattern forming above or below a trendline, you can safely continue with your trade for more profits. In the same manner, when you spot a trend reversal candlestick pattern above or below a trend line, you should take it as a warning and exit an open position.
There are simple candlestick patterns and there are complex candlestick patterns. Now, there are candlestick patterns recognizer indicators available that you can install on your charting platform. These indicators can accurately identify a candlestick pattern. When you combine, this candlestick pattern with the trendline, you get a good confirmation about trend reversal and trend continuation.
Trendlines are very important in making entry and exit decision. If you use them correctly, you can make profitable trades.
The problem with trend lines is that they change often. Everyday, you will have to draw a new trendline. One method of placing a stop loss is to use a support trendline or a resistance trendline and place the stop loss just below or above it.
A second method is to exit a trade when the closing price is below the bullish trendline or above the bearish trendline. This can keep you from having to replace the stops daily and also keep you in a trade if the price takes a slight dive during the day before it retraces. This provides a certain flexibility so that you don't have to see the trend continuing in the same direction after stopping you out of the market.
Whatever, trend lines when combined with candlestick patterns can be powerful.
------------------------
Mr. Ahmad Hassam has done Masters from Harvard University. Try these Forex Signals from two top gun traders.
http://tradingninja.com/2010/10/the-forex-signals-2/
Learn this powerful Fibonacci Retracement method FREE that pulls 500+ pips per trade.
http://www.ninjatraderblog.com/trading/2009/10/fibonacci-retracement/
When you combine a bullish trendline with a bullish candlestick pattern or a bearish trendline with a bearish candlestick pattern, you will get a pretty accurate signal that tells whether you should stick with a position or exit it.
When you spot a trend continuation pattern forming above or below a trendline, you can safely continue with your trade for more profits. In the same manner, when you spot a trend reversal candlestick pattern above or below a trend line, you should take it as a warning and exit an open position.
There are simple candlestick patterns and there are complex candlestick patterns. Now, there are candlestick patterns recognizer indicators available that you can install on your charting platform. These indicators can accurately identify a candlestick pattern. When you combine, this candlestick pattern with the trendline, you get a good confirmation about trend reversal and trend continuation.
Trendlines are very important in making entry and exit decision. If you use them correctly, you can make profitable trades.
The problem with trend lines is that they change often. Everyday, you will have to draw a new trendline. One method of placing a stop loss is to use a support trendline or a resistance trendline and place the stop loss just below or above it.
A second method is to exit a trade when the closing price is below the bullish trendline or above the bearish trendline. This can keep you from having to replace the stops daily and also keep you in a trade if the price takes a slight dive during the day before it retraces. This provides a certain flexibility so that you don't have to see the trend continuing in the same direction after stopping you out of the market.
Whatever, trend lines when combined with candlestick patterns can be powerful.
------------------------
Mr. Ahmad Hassam has done Masters from Harvard University. Try these Forex Signals from two top gun traders.
http://tradingninja.com/2010/10/the-forex-signals-2/
Learn this powerful Fibonacci Retracement method FREE that pulls 500+ pips per trade.
http://www.ninjatraderblog.com/trading/2009/10/fibonacci-retracement/
Business Credit Reporting Agency: How To Register With Top 3 Business Credit Bureaus
Is your company registered with the top three major business credit bureaus?
Do you know that there are over thirty business credit reporting agencies in the United States?
With so many companies in the business of collecting commercial information it can be quite a challenge deciding which ones are most important for your company to get listed with. What's most important is to first determine which bureaus do the majority of suppliers, creditors, and lenders pull their reports from.
For starters you should focus on getting listed with the top three business credit reporting agencies which are Dun and Bradstreet, Corporate Experian, and Small Business Equifax.
It's important to realize that hundreds of thousands of companies, lenders, suppliers, and creditors rely on these particular agencies to provide them with reports which they use to assess the credit worthiness of a company.
If you apply for credit with a lender or supplier and your company is not listed then you'll most likely be denied credit or be required to furnish a personal credit check and personal guarantee. Unfortunately the majority of small business owners do just that which puts their personal credit and personal assets at risk.
Getting listed and establishing a credit profile in the name of your company is the first step to truly separating you from your business.
The following information will cover the top three major business credit reporting companies in the country and how to get your company listed.
Dun and Bradstreet
With over 130 million companies listed and over 1.5 million updates per day this is one bureau you should aim to establish a solid profile with.
To get listed go to the DNB web site and first check to see if your company is already listed. If it is then you will need to register with iupdate to review your file and make any necessary changes. If your company is not listed you have three options.
1) Purchase D-U-N-S Expedited service and obtain your DUNS Number in 24 hours. 2) Purchase D-U-N-S File Creator and obtain your DUNS Number in 5 business days. 3) Get your DUNS Number in 30 days by selecting the no charge option
Keep in mind that having a DUNS number is just the beginning. You will need to start building your company's credit file by doing business with creditors and/or suppliers that report to Dun and Bradstreet. You can also add positive trade references to your file by purchasing one of DNBi's SelfMonitor programs.
Corporate Experian
Corporate Experian (Business Experian) is another dominant player in the industry with over 22 million companies listed. One major difference is it does not allow you to self-report trade references like DNB. The only way to get listed is by doing business with a creditor or supplier that furnishes to this specific bureau.
Small Business Equifax
Small Business Equifax is another bureau that plays a significant role in the industry with over 25 million companies listed in its database. This bureau is said to be one of the most difficult to get listed with and the majority of its furnishers are banks and leasing companies. Similar to Experian the only way to get listed is through a lender or company that supplies its payment data to Equifax.
Even though there are many other agencies that collect commercial data it would prove to be a smart decision to establish a credit profile with each of these bureaus. This would allow the majority of lenders, creditors, banks, leasing companies, and suppliers to properly assess the creditworthiness of your business instead of having to rely on you and your personal credit.
------------------------
About the Author
Marco Carbajo is founder of the Business Credit Insider's Circle. A step-by-step business credit building system. For details claim Marco's FREE business credit seminar ($597 Value), available at: http://startbusinesscredit.com Follow Marco on Twitter @MarcoCarbajo and read more of his insights at http://businesscreditblogger.com
Do you know that there are over thirty business credit reporting agencies in the United States?
With so many companies in the business of collecting commercial information it can be quite a challenge deciding which ones are most important for your company to get listed with. What's most important is to first determine which bureaus do the majority of suppliers, creditors, and lenders pull their reports from.
For starters you should focus on getting listed with the top three business credit reporting agencies which are Dun and Bradstreet, Corporate Experian, and Small Business Equifax.
It's important to realize that hundreds of thousands of companies, lenders, suppliers, and creditors rely on these particular agencies to provide them with reports which they use to assess the credit worthiness of a company.
If you apply for credit with a lender or supplier and your company is not listed then you'll most likely be denied credit or be required to furnish a personal credit check and personal guarantee. Unfortunately the majority of small business owners do just that which puts their personal credit and personal assets at risk.
Getting listed and establishing a credit profile in the name of your company is the first step to truly separating you from your business.
The following information will cover the top three major business credit reporting companies in the country and how to get your company listed.
Dun and Bradstreet
With over 130 million companies listed and over 1.5 million updates per day this is one bureau you should aim to establish a solid profile with.
To get listed go to the DNB web site and first check to see if your company is already listed. If it is then you will need to register with iupdate to review your file and make any necessary changes. If your company is not listed you have three options.
1) Purchase D-U-N-S Expedited service and obtain your DUNS Number in 24 hours. 2) Purchase D-U-N-S File Creator and obtain your DUNS Number in 5 business days. 3) Get your DUNS Number in 30 days by selecting the no charge option
Keep in mind that having a DUNS number is just the beginning. You will need to start building your company's credit file by doing business with creditors and/or suppliers that report to Dun and Bradstreet. You can also add positive trade references to your file by purchasing one of DNBi's SelfMonitor programs.
Corporate Experian
Corporate Experian (Business Experian) is another dominant player in the industry with over 22 million companies listed. One major difference is it does not allow you to self-report trade references like DNB. The only way to get listed is by doing business with a creditor or supplier that furnishes to this specific bureau.
Small Business Equifax
Small Business Equifax is another bureau that plays a significant role in the industry with over 25 million companies listed in its database. This bureau is said to be one of the most difficult to get listed with and the majority of its furnishers are banks and leasing companies. Similar to Experian the only way to get listed is through a lender or company that supplies its payment data to Equifax.
Even though there are many other agencies that collect commercial data it would prove to be a smart decision to establish a credit profile with each of these bureaus. This would allow the majority of lenders, creditors, banks, leasing companies, and suppliers to properly assess the creditworthiness of your business instead of having to rely on you and your personal credit.
------------------------
About the Author
Marco Carbajo is founder of the Business Credit Insider's Circle. A step-by-step business credit building system. For details claim Marco's FREE business credit seminar ($597 Value), available at: http://startbusinesscredit.com Follow Marco on Twitter @MarcoCarbajo and read more of his insights at http://businesscreditblogger.com
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