SBA Teams with Dun & Bradstreet to Provide Small Business Owners with Credit
Management Resources
WASHINGTON, Jan. 9 /PRNewswire-USNewswire/ -- Small business owners now have a
new small business resource to help improve their chances for profitability by
understanding the importance and use of business credit. The U.S. Small
Business Administration today launched a series of training resources designed
to help small business owners manage their business credit.
The SBA and Dun & Bradstreet (D&B) have joined together in a nationwide
partnership to give small business owners valuable step-by-step guidance on
how to proactively manage their business credit. With the training resources,
small business owners are advised to take the following five smart steps to
establish and maintain a positive business credit file:
Step One: Start a business credit file - To establish business credit,
business owners may need to obtain a D-U-N-S(R) Number, a unique business
identification number, to begin to establish a credit file as soon as they
start their business.
Step Two: Establish a credit history - Business owners should put all
expenses in their business name and use a commercial bank account to pay
bills, rather than using personal funds. This approach will allow business
owners to build a history of payment behavior that will help establish
favorable credit terms.
Step Three: Pay bills on time - Commercial credit scores are influenced by
paying bills on time as well as other factors, such as outstanding debts and
company revenues.
Step Four:Monitor and understand their business credit file - Business owners
should monitor their credit file before any change occurs that might affect
relationships with suppliers, customers and banks.
Step Five:Monitor customer and supplier credit - Business owners can improve
cash flow by knowing the credit standing of business partners before agreeing
to payment terms.
The training resources include an online Webinar, CD-ROMs, informational
brochures and other resources on how to properly establish and protect
business credit. Resources and information are available on the SBA's Web
site at http://www.sba.gov.
The resources are currently available in English, with Spanish translations
becoming available in mid-2008.
"Both the SBA and Dun & Bradstreet have a long history of experience in
working with small businesses to maximize their business success," said SBA
Administrator Steve Preston. "These are five smart and easy steps that any
small business can implement to establish and maintain good business credit
and protect their businesses."
D&B has worked with business leaders for more than 165 years to provide
critical insight and tools to foster growth and protect their businesses.
"This new partnership between the SBA and D&B will help small business owners
optimize their business credit profile, which can potentially lower costs of
credit and improve cash flow," said David Kieselstein, Senior Vice President,
Small Business, D&B.
Dun & Bradstreet (D&B) is a leading business information provider that offers
database services that allows business principals to review and update their
company information. D&B has a dedicated portal --
http://www.dnb.com/sba/eupdate -- for small business owners.
The U.S. Small Business Administration, the nation's largest financial backer
of small businesses, has teamed with the D&B to expand tools for business
solutions. The SBA's programs and services help business owners start, run,
and grow their businesses, and provide a range of financial, technical, and
management assistance.
SBA's participation in this cosponsorship does not constitute an express or
implied endorsement of the views, opinions, products or services of any
cosponsor or other person or entity. All SBA programs, services and
cosponsored activities are extended to the public on a nondiscriminatory
basis.
Cosponsorship Authorization #06-7630-58.
SOURCE U.S. Small Business Administration
Cecelia Taylor of the U.S. Small Business Administration, +1-202-401-3059,
Cecelia.Taylor@sba.gov; or Ruth Davis of Dun & Bradstreet, +1-973-921-5624,
DavisR@DNB.com
