I want to start a daycare in Ohio

kellandjohn
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Joined: Mon Aug 28, 2006 4:00 am

I want to start a daycare in Ohio

Postby kellandjohn » Mon Aug 28, 2006 10:20 pm

I want to start a daycare in Ohio but I don`t have the money. I have a business plan and a building ready to lease but I don` t have about 50,000 to spend on supplies and renovations. I have bad credit and my family doesn`t have the money to give for loans.

Jackede
Posts: 0
Joined: Wed Aug 16, 2006 4:00 am

RE: I want to start a daycare in Ohio

Postby Jackede » Mon Aug 28, 2006 11:51 pm

Eric,

I appreciated your feedback. I too  am starting a new business. I
have incorporated and have worked with a couple of vendors who
requested payment in advance. I am working with virtually no capital.

What are the advantages to obtaining a Duns number?

Thanks,

Jack

MeanMachine
Posts: 0
Joined: Mon Aug 28, 2006 4:00 am

RE: I want to start a daycare in Ohio

Postby MeanMachine » Tue Aug 29, 2006 2:54 am

Hi Jackede,



A DUNS number is the worldwide accepted equivalent of what your
Social Security number is used for in the states. It allows creditors, companies
who do business with, potential clients and lenders to get to know about your
company, many lenders and venders will not issue credit without a DUNS number,
D&B issues a credit rating based upon history.



Without a DUNS number or good credit standing in DUNS then
the banks will require you to personally co-sign loans etc so they will take
your house or car if the loan does not get paid back. Vendors will want to get
paid in advance as they have no recourse to pursue or ability to judge bad loan
from good loan.



In other words having a DUNS number is essential to doing
business if you need a loan, or credit. It gives lenders a way to measure your
risk at paying them.



If you ever want to do business with the government you will
be required to have a DUNS number.



Also having a DUNS number will make you more credible in the
industry and taken seriously as business. (Otherwise why go through the time
effort and scrutiny??)



Now getting DUNS is free, Dunn and Bradstreet will track
your data, etc. However they have several programs to choose from that will
cost. Like a credit building program which takes more data. I think it cost
$250. You can go to the site and choose which program fits what you want to do.
(They always sucker you in with the free stuff then hit for the cash before you
can get out the door.)



If you are not under financial pressures then you can take
it slow get the free DUNS and build your good credit record. If you want to
fast track it then you will need to pay a fee.





It all depends upon your need.http://www.dnb.com/us/





What a sample DUNS report shows about a business:https://www.dnb.com/product/birsampl.htm



I hope this information is helpful,Eric

Jackede
Posts: 0
Joined: Wed Aug 16, 2006 4:00 am

RE: I want to start a daycare in Ohio

Postby Jackede » Tue Aug 29, 2006 1:03 pm

Very helpful... thanks!

MeanMachine
Posts: 0
Joined: Mon Aug 28, 2006 4:00 am

RE: I want to start a daycare in Ohio

Postby MeanMachine » Tue Aug 29, 2006 1:43 pm

I am happy to be of service.

 

Take care,

 Eric


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