"Boost Your Business Credibility: Achieve an 80+ Paydex Score Effortlessly"

Houston Mcmiller - Credit Specialist The first thing we're going to talk about is a PAYDEX score. A PAYDEX score is a rating that goes from 0 to 100, and from 80 to 100, most people are familiar with an 80 PAYDEX score or above. 80 to 100 means that you pay your bills on time or you pay them sooner than the bill comes out - that's how you get the higher numbers with the PAYDEX score. If you get a bill and you pay it later than the net, then your PAYDEX score drops from 79 down to 0. So, you always want to pay your bills on time. To generate a PAYDEX score, you go through four or five vendors and say that you're trying to open up a restaurant or a janitorial service and you don't have the money upfront. With these types of companies, you go to them and say, "Hey, I started this business, but I don't have the money for the supplies." What ends up happening is that they'll give you the supplies upfront and then they'll give you a certain amount of days to pay the bill. That's how you generate a PAYDEX score. Your PAYDEX score is generated through Dun & Bradstreet. Dun & Bradstreet is a data-collecting company, a business data-collecting company, meaning that anything that you're doing with your business, they're going to collect the data on it. Once they collect data on your company, then they sell those files out to different institutions. The companies that have been reporting are the ones that gather that information, and they determine in their system what your PAYDEX score is going to be. Understanding your PAYDEX score has nothing to do with funding. Your PAYDEX score is mainly focused on trade credit or like vendor credit or supplies. To keep it simpler, it mainly focuses on how much credit that you're able to get in supplies versus capital.

YouTube Source: https://www.youtube.com/watch?v=KGUa47ZhuL4
YouTube Channel: https://www.youtube.com/channel/UCwTiSgSSNPiNANoB2cREAAg
Related Content:
https://docs.google.com/forms/d/e/1FAIpQLSeMlUuJk0me_kCP9WVaVS737sa0Elr2Da3DpNs66ElpKdNVrA/viewform
https://www.tumblr.com/clarencecloutier/750638499200466944/
https://calendar.google.com/calendar/event?eid=M2FnZmtuMG9kMjdoc25wNmwwaTBkZ3JtbjggY2FzdXBhZm9nQG0
https://www.pinterest.com/pin/727331408599790639/