A DUNS number, short for Data Universal Numbering System, is a unique nine-digit number issued by Dun & Bradstreet (D&B) that identifies your business and provides insight regarding its creditworthiness. D&B is one of several major business credit bureaus, and having a DUNS number helps build a business credit profile, which can not only make it easier for vendors to verify your company but can also help you get approved for business financing more easily.
Key takeaways:
- A DUNS number can provide a snapshot of your business’s overall payment history and financial health.
- It is common for government agencies or other vendors to require a DUNS number when issuing grants or contracts to verify business data.
- DUNS numbers can be utilized by a variety of businesses to help simplify making business decisions when considering transactions.
Who D&B is & what they do
In terms of business lending, D&B is one of three major business credit bureaus. It houses data for various companies, using that information to provide decision-making data and analytics. Examples of products and services offered by D&B include providing access to a company’s credit profile and credit scores.
A D&B business credit report includes data and insights on various aspects of your company, such as its legal name, operating history, payment history, creditworthiness, and stability. Companies commonly use that information to determine if they want to develop a partnership with your business. This can serve purposes such as extending credit, lending money, allowing you to become a vendor or supplier for a product or service, and more.
How to get a DUNS Number
Getting a DUNS number is a fairly simple process. After ensuring you don’t already have one, you can apply for one for free via D&B’s request page. Here are the applicable steps:
Step 1: Choose your company type.
The first step is to pick the best option to describe your company type. Depending on your selection, you’ll be redirected to the corresponding page to fill out your company information.
Options describing your company type
Step 2: Fill out the requested information.
Depending on your company type, you may have to provide supplemental information. This could include:
- Legal name of your business
- Business address
- Business phone number
- Name of the business owner, president, or CEO
- Legal structure of the business
- Year of business creation
- Primary business industry
- Total number of employees
Step 3: Go through the checkout process.
You’ll be directed to checkout and presented with the option of expediting the process to receive the report within eight business days for a $229 fee. You could also wait the standard 30 days, in which case the request is free.
Step 4: Receive DUNS Number in email.
Once your company has been authenticated, the steps are complete. You should then receive your DUNS number via email. If further validation is needed, a D&B representative may contact you.
Benefits of having a DUNS number
Getting a DUNS number isn’t required to run a business. However, as it’s free to apply for and obtain, it carries a lot of benefits with little downside. Below are two primary benefits of having a DUNS number and why you should get one.
Greater access to funding
Having a DUNS number adds a layer of credibility to your business, making it easier to get approved for loans and develop business partnerships with vendors. This is because other companies can more easily verify the legitimacy of your business, such as its operational history, legal name, location, and other information relating to your creditworthiness. With a stronger credit score, you’ll be better positioned to negotiate more favorable rates and terms when applying for small business loans.
Even if you’re not looking to apply for loans, getting a DUNS number can help if you are trying to get other individuals or entities to invest in your company. A DUNS number can help strengthen your business credit score, which is something that can give investors more confidence in the stability of your future business operations.
Increased access to international business, government contracts, and grants
Many state and local agencies require your company to have a DUNS number in order to bid on contracts. The same is true of many small business grants and businesses that operate internationally. Even if it’s not required, having a D&B number can help as it provides additional transparency and confidence in your company’s reliability. As a result, having a DUNS number allows you to access significantly more revenue streams.
How to look up your DUNS Number
Your DUNS number can be found by accessing D&B’s Lookup Tool. There, you can search for your number using your company name and address. If you’ve already established a DUNS number, your profile should appear, with the option of sending your number directly to your email address.
If you can’t find your number, it’s possible that you don’t yet have one. It’s worth noting that owning and operating a business doesn’t automatically provide you with a DUNS number. Keep in mind, you may have been assigned one if information about your company is requested from a lender or partner. You can request one free of charge directly from the D&B Website or by speaking with a D&B representative.
Managing your DUNS Number
In the event your business has been closed or purchased, your DUNS number will remain the same, as it can’t be altered. In part, your DUNS number also has no expiration date. That said, should you need to make changes to your profile, such as updating your address or contact information, you can request updates through D&B’s D-U-N-S Manager form.
There is no maintenance requirement for your DUNS number that involves the purchase of products or services. It’s a completely free number that will follow you through the lifetime of your business.
DUNS number vs EIN & UEI
A DUNS number is not to be confused with an EIN (employer identification number) or a UEI (unique entity identifier). While it’s true that all are unique numbers used to identify businesses, they serve different purposes. Consider the following:
EIN (Employer Identification Number) | UEI (Unique Entity Identifier) |
|---|---|
An EIN is utilized strictly for tax purposes and is issued by the IRS. In contrast, A DUNS number is used for business credit and verification purposes, and is assigned by Dun & Bradstreet. | The Federal Government has replaced the DUNS Number with the Unique Entity Identifier (UEI) as the main method for identifying entities that receive federal awards across all agencies. |
Frequently asked questions (FAQs)
It typically takes up to 30 business days to process your DUNS number request. However, you can also get it within eight business days if you pay for expedited processing.
There is no charge to get a DUNS number. However, if you need to access a DUNS number faster than the standard processing time of up to 30 business days, you can pay a $229 fee for expedited processing.
You can look up a company’s number for free using the D-U-N-S Number Lookup Tool.
No. If you have multiple business locations, you must apply for a different DUNS number for each location.
Yes. DUNS Numbers are utilized globally, where various businesses and government agencies rely on them to verify the creditworthiness of a business. As a universal standard, more than 220 countries and territories worldwide have businesses with DUNS Numbers currently assigned to them.
Bottom line
A DUNS number is attached to your D&B business credit report and can be publicly accessed by lenders, suppliers, or business partners to assess the creditworthiness of your business. It’s a simple, free process that can promote the growth and credibility of your business. It’s not uncommon for a DUNS number to be a small business loan requirement, and since it can take up to 30 business days to get, I recommend registering for a DUNS number for each business you operate.
