What is a DUNS Number and How Can I Obtain One?
Your DUNS Number
DUNS or Data Universal Numbering System is a unique 9-digit identification given by Dun and Bradstreet as the first step in registering your business or organization.This unique identifier is used to track worldwide financial transactions of different businesses or organizations.
Obtaining a DUNS number is free of charge through Dun and Bradstreet’s official website.
Your DUNS number will remain the same throughout the life of your business and is like the Social Security number of your organization. DUNS number is also linked to your financial information and credit score that investors, potential business partners, vendors, and competitors can view to check your creditworthiness. Just as you have to keep a close eye on your high risk merchant account, you must maintain focus on your DUNS number. Your eligibility to pay for services, bills, or loans on time is reflected on your credit score through your DUNS number, ranging from 1 to 100, with 100 being the highest.
What is a DUNS number used for?
Aside from being used as an identifier for your business, a DUNS number is also a requirement when applying for grants from the federal government. It is also used to obtain financing if your organization is about to enter a business partnership, or entering into a vendor/supplier contract.
In addition to business financing opportunities, the DUNS number can also be used to establish your business credit. All the financial transactions your business will show in your credit history, helping build and establish your business credibility.
Besides, having a DUNS number will ensure your business information is accurate through easy to access credit report provided by Dun and Bradstreet
Once you establish a positive credit record through your DUNS number, your business can apply for financing grants, loans, and other forms of financing to aid in your business expansion. Also, a DUNS number fast tracks your application for federal grants.
Since your credit score is made available to any individual, investors and potential business partners are able to look up your financial health to make sure your business is financially stable and credible.
That way, your DUNS number will help your business move forward and be more appealing to potential partners and future agreements.
Lastly, if your business is going to venture into developing an application eventually, Apple requires a DUNS number when creating an account in the Apple Apps Store.
A DUNS number is a universal standard for your business to be identified.
How to get a DUNS number
You may obtain a DUNS number by calling D & B’s number: 1-866-705-5711, filling the online form through their website: https://www.dnb.com/duns-number/get-a-duns.html, or by sending an email to: firstname.lastname@example.org.To complete the process, you need to provide the following details:
- Legal name of your business entity
- Business AddressPhone number
- Name of the CEO or business owner
- Legal structure or type of business (corporation, partnership, proprietorship, etc.)Year the organization was created
- Primary line of business
- Total number of employees (full and part-time)Normally, it will only take 1-2 business days to get your DUNS number.
Outside of the United States, business applicants may also apply and get a DUNS number online.