I recieved a "spammer" fax, I'll call it, from a lending company stating my business rating acording to D&B was excellent, and if I wanted to borrow money, I was pre-approved.
Like the credit card apps you get in the mail all the time, they go in the shredder.
But it got me thinking, what is an appropriate credit score for your business?
D&B? They call me and ask for the information. I could tell them anything. I don't think I have ever given them anything they could use to check my credit like my ss number or federal ID.
D & B get most of their info directly by phone interviews.
They have a vast database on American and Canadian businesses.
They got their start in the 'rag trade' where suppliers and customers constantly get burned. See "Who'll Save The Tiger"...
You'd be surprised how much D&B can find out without even leaving their desk. Most of your distributors are already rating your payment record and reporting it to D&B automatically. That's what is of primary interest to creditors, anyway.
D&B may well call your landlord, if any, to see if they are happy. It is not uncommon for D&B to stop on by and visit to look over your facilities. Don't be surprised if they don't hit you up to be a subscriber.
The typical report sent to subscribers will show who the principals are, the legal form of business, its address, phone number, etc. It will also have a guestimate as to the size of the firm based on their own take. Any liens or litigation will be posted since D&B routinely logs all commercial litigation and bankruptcy filings.
It is not a cheap service for a small guy, but is deemed essential by bankers and big players.
Investigation is normally triggered by a subscriber inquiry. I was almost always amazed at the info D&B had on my customers.
I really doubt the spammer got ANY info from D&B. That would cost them money. More likely, it is part of their BS sales pitch. Such an offer is to be avoided.
D&B listed my little co. as a $130 million Utliity Co. I was afraid to answer the phone for two years because of all the NY stock traders who wanted to help me invest millions. Those guys don't take no for an answer and swear sailors when you tell them you don't have the money invest.
Over the years D&B has made some staggering goofs. Sometimes they get sued over them.
But usually their stuff is decent and insightful.
They are such a big and profitable operation that they have, over the years, bought out any number of companies. Normally D&B does not change the name or the management of the newly acquired.
They are all over the place. You may be doing business with them right now and don't know it, through one of their army of companies.
