We live in a credit histories and analytics world where lenders look backwards at trends which have shown higher rates of default. What one of these trends has shown lenders is that businesses that operate solely from cell phones have been 10 to 20 times more likely to default. Therefore if you operate your business solely from cell phones then you are going to get tagged as being a much higher risk of default and therefore much more likely to be declined.
The perception lenders, vendors, and creditors have of your business is critical to your ability to build strong business credit. This perception is why we highly recommend that you have a business phone number listed under 411, and even an "800" number. These items are important components of building your business credit and boosting the perception of your business.
It is essential to have a dedicated business phone number registered with 411 directory assistance, under your business name. Avoid using your home phone number or a cell number. Lenders, vendors, creditors, and insurance providers will all verify that your business is listed with 411. While a toll-free number adds credibility, it is crucial to also have a local business number for the 411 directory assistance listing.
How do potential lenders, vendors, and customers perceive your business? It's simple and cost-effective to establish a virtual local phone number in your area code or a toll-free 800 or 8** number. We highly recommend setting up both options.
If you already have a local number for your business, incorporating an "800" number can significantly enhance your credibility and provide your customers with convenient access to your company. Even if you're a solo entrepreneur running a home-based business, a toll-free number creates the impression that you are a legitimate enterprise.
If you require a business number to be listed in 411, it is essential to acquire a Virtual Local Number with your local area code. Please note that 800 toll-free numbers cannot be listed in your local 411 directory.
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Whether you're applying for financing with a lender or net credit terms with a vendor, providing a cell or home phone number as your main business line could get you "flagged" as an unestablished business that is too high of a risk. This means we DON'T recommend giving a personal cell phone or residential phone as the business phone number (note: you can forward a virtual number to any phone number, see the information in the box above)
*** DO NOT USE A CELL PHONE NUMBER OR A RESIDENTIAL NUMBER FOR THIS 411 LISTING ***
The service is free and has been proven to be very effective to solve the 411 directory assistance listing.
Once you have submitted, you need to verify the listing under 411. To do this dial (Your Area Code)-844-480-2800 and then ask for the listing of your exact business legal name. If possible, do not use a cell phone to check your listing!
In addition, since searching the internet is the number one tool used to locate a business today, it’s crucial to make sure your business is listed on major online business directories. While there are many popular online directories to get listed with there are several key sites that play a role in the business credit building process.
Becoming financially self-sufficient means ensuring that your business can secure financing independently, rather than constantly relying on the personal credit of its owners.
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