Jargon, definitions and frequently asked questions

Here are the definitions for financial terms and answers to common questions.

Our team of consultants are here to make the process easy. As credit and finance experts we sometimes use terminology that you might not be familiar with. We do our best to keep it simple but if we do use a word that you don't know we will explain it in everyday language. In addition please view our frequently asked questions below

What is a DUNS Number?
The DUNS number is a nine-digit number, issued by D&B, assigned to each business location in the D&B database, having a unique, separate, and distinct operation for the purpose of identifying them.
What is Paydex score?
Paydex is a term used by Dun and Bradstreet, for a numerical score granted to businesses as a credit score for the promptness of their payments to creditors similar to your personal credit score. Making on-time payments to creditors is the best thing you can do to build a good business credit score; business credit scores generally range from zero to 100.
Why should I use a EIN number instead of my SSN?
Using your EIN instead of your SSN will help build your business credit and keep it separate from your personal credit.
Do I need to hire someone or can I do it myself?
You can do it yourself using the resources that we provide or we can do it for you.
Why is using a DBA bad?
Using a DBA is fine if you're a kid selling lemonade in your front yard but if you're serious about building a business you will need an LLC or Corporation.
What is EINbiz Credit?
EINbiz Credit is a corporate credit building service offered by CorpScore Solutions LLC, Astor Business Centers Inc. and other corporate credit professionals.
How do I get started?
Getting started is easy. Just call and speak to one of our consultants. We will answer any questions that you have.
What is a PG (personal guarantee)?
A personal guarantee is an unsecured written promise from a business owner and or business executive guaranteeing payment on an equipment lease or loan in the event the business does not pay. Since it is unsecured, a personal guarantee is not tied to a specific asset.
Lost / Misplaced EIN
If you previously applied for and received an Employer Identification Number (EIN) for your business, but have since misplaced it, try any or all of the following actions to locate the number:

- Find the computer-generated notice that was issued by the IRS when you applied for your EIN. This notice is issued as a confirmation of your application for, and receipt of an EIN.

- If you used your EIN to open a bank account, or apply for any type of state or local license, you should contact the bank or agency to secure your EIN. Find a previously filed tax return for your existing entity (if you have filed a return) for which you have your lost or misplaced EIN. Your previously filed return should be notated with your EIN.

- Ask the IRS to search for your EIN by calling the Business & Specialty Tax Line at 800-829-4933. The hours of operation are 7:00 a.m. - 7:00 p.m. local time, Monday through Friday. An assistor will ask you for identifying information and provide the number to you over the telephone, as long as you are a person who is authorized to receive it. Examples of an authorized person include, but are not limited to, a sole proprietor, a partner in a partnership, a corporate officer, a trustee of a trust, or an executor of an estate.

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