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It sounds like BofA wants to know your track record. If you realistically don't have a track record, you should try to find other ways to demonstrate you competency. If the business is new but you have lots of experience personally, maybe you can include a resume summarizing your experience. The other thing is that some items are always asked of applicants that are never examined closely. Who knows, maybe its just on a checklist but its not considered a vital item. You should just do whatever you can to prove that you are the best, most competent company. I'm sure they are relying solely on the D&B, so give them as many other reasons you can to choose you. Sure, you are a startup, but so was every business at some point. It's an uphill struggle sometimes, but overtime if you are a solid company, it will show.1 of 1 people found this helpful
What I would not recommend is buying someone elses credit, which I'm sure will be offered to you on this forum. It's more or less decieving people into thinking that your business has a track record when it in fact does not. If they find out that you bought an aged line, BofA will probably never deal with you.
oops, I meant that I'm sure they are NOT relying solely on the D&B (third to last line, 1st paragraph)1 of 1 people found this helpful
Thanks for the reply. We're going to acquire a D&B number even though there won't be any info only because it's required. Hopefully we can promote ourselves enough to have a chance to prove our worth.
Government contractors and grant applicants are required to have a DUNS number because it provides a cost-effective way to cross-check and verify a business' location and contact information. The purpose for the requirement in your case with BoA and other institutions could be similar -- they're probably using it as a method to filter out unqualified and illegitimate applicants, rather than as a factor in selecting a qualified firm. Good luck.1 of 1 people found this helpful
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We're a new start-up looking to be considered for procurment activities for several institutions including BOA. A Dun & Bradstreet number is required for applications to be a supplier. Being a new company, no credit history, or any history at all, will be listed. Is this a deal breaker or are all companies looked at based on their services offered.