build business credit

A Complete Thryv Review: Manage Online Business Listings +More

When you set up your business to build business credit, one of the early steps is to make sure your company looks legit to banks and credit unions that you might turn to for funding. Online business listings help people (namely lenders) find your company on the web. There are several ways to list your business including manually, via a directory submission service, or through an automated platform. One of my clients uses a platform called Thryv and highly recommends it.

After talking to them about the benefits, I wanted to know more. When I researched the platform, I found that it can help with much more than just business listings and I wanted to share everything I learned.

Here’s what we’ll cover:

Thryv Platform Overview
Thryv Competitor Rundown
- Thryv vs Hubspot vs Salesforce vs Keap
- Directory Submission Service Comparison
Final Thoughts

Thryv Platform Overview

Formally a holding company, Thryv Inc. delivers marketing automation software for small businesses through its subsidiaries. Thryv recently acquired Yp.com, which was a leader in the business directory industry, and integrated their offers. Now, let’s dive deeper to find out what this means for you.

What is Thryv?

Competing with brands like Hubspot, Salesforce, and Keap, Thryv brands their service as a customer relationship management (CRM) platform or an all-in-one business dashboard. The company caters predominantly to small, local service businesses.

What does a CRM software do? A CRM gives companies a dashboard to store identifiable information and communications with leads and customers. In recent years, CRM platforms have evolved to offer research, marketing, and communication tools in one dashboard.

You can use the Thryv platform to collect leads, communicate with customers, schedule appointments, process transactions, store documents, and more.

The tools are designed for B2B and B2C service businesses like accountants, mechanics, landscapers, and more. Recently, Thryv announced a HIPAA-compliance add-on so that it can securely be used by healthcare practitioners.

During my demo, I learned that Thryv offers custom websites or standalone widgets that you can add to an existing website. These tools help with lead collection and marketing. They also allow you to offer a client portal so that your customers can manage their communication and payments online from your company website.

Next, they offer to submit your website to 60+ directories, which is what piqued my interest in the first place. Uniform business listings help your brand to become visible online, your website to get picked up by search engines, and are an essential part of getting your company “business credit-ready.” Manual submission to this many directories can otherwise take hours of your time.

The new payment system is powered by Plaid and costs 2.9% +30¢ per transaction. Payments can also be integrated with other payment systems like Stripe and Quickbooks through Zapier.

Furthermore, the platform has built-in email marketing sequences and follow-up communications templates that you can send to your leads and customers from inside the dashboard. You can use this feature to qualify and nurture leads, setup repeat appointments, automate invoicing, and request reviews.

You can also use Thryv to schedule and post on social media. Connect your LinkedIn, Instagram, Facebook, and Twitter accounts for easy content sharing and communication without logging into the platforms in multiple windows. And, if you’re not sure what to share, you can pull content from the platform’s pre-written posts, which are updated weekly with new content from the web.

Probably my favorite feature of the platform, which is not offered with most online review platforms, is the ability to hide live customer reviews for up to seven days. If you receive a poor review, this feature allows you some time to make things right with an unsatisfied customer and get the review updated before it is made public.

Finally, Thryv has a reseller platform for anyone interested in promoting the software. More information about the program can be found by emailing lynn.daley at thryv dot com. And, affiliate program information can be found here.

How Much Does Thryv Cost?

Thryv platform use, depending on which features you opt-in to, can cost from $199 to $499 per month. The directory submission service is part of the platform’s recent buyout of Yp.com and is not yet offered as a standalone service. You’ll have to work with a representative and create a custom package to leverage this feature.

Thryv Customer Support Evaluation

When reaching out for a Thryv platform demo, I tried to make the process slightly difficult for the sales and support team… to get a feel for how well they work together to solve problems. When you choose business software it’s a tremendous decision. It takes up a sizable portion of your budget, plus it’s a serious pain to switch from one platform to another once you’re already established.

Thryv’s support team contacted me within 24 hours of requesting more information (which I did on a weekend) and was quick to set me up with an after-hours sales demo. I rescheduled without any problems so that nobody actually had to work late. But, the fact that they were willing to do what they needed to meet my needs impressed me.

While I was in the video conference, I tried to ask a few questions that I was sure the sales rep wouldn’t have the answer to. I succeeded and stumped him a couple of times. But, that didn’t mean that I didn’t get answers. After the online presentation ended, the sales rep emailed me with a full list of answers, including contact information for the right people to contact with further questions in each category.

From my experience, I give Thryv customer care five stars. But, not everyone agrees.

According to some users, it sounds like Thryv might have a tendency to reach out too much or provide too many updates. But, I would take this with a grain of salt — too much support is always better than not enough.

Thryv Competitor Rundown

For the purpose of educating readers, I want to compare some of Thryv’s top CRM competitors. After that, let’s look at directory submission/business listing services, since that’s why we’re here in the first place.

Thryv vs Hubspot vs Salesforce vs Keap

If you’re interested in an all-in-one business dashboard to power your operations, here are the top competitors.

First, I want to point out that I don’t like the fact that Thryv’s pricing isn’t transparent. You will need to get in touch with a Thryv representative to build a custom package. Still, their pricing is competitive with other CRMs. Furthermore, their packages are more suited to small, local businesses, including those with multiple locations.

You might pay less for a starter package with another competitor. But, you may later find that the feature options are too robust with Salesforcee and Hubspot while not enough with Keap. For a local small business, Thryv is the platform I would recommend.

Directory Submission Service Comparison

And, if you’re only here to find the best way to automate your business listings for the purpose of getting business credit-ready, this list is for you.

If you are only in the market for business listings, Thryv is probably not your most cost-effective option. However, the multiple features their platform offers are worth the price.

Note that you can also find freelancers or agencies in your area to list your business in multiple directories to help build your online presence, and costs can vary. To find your best option, look up “citation building service” or “directory submission service” and add your city name.

Final Thoughts

When you want to build business credit, you need to get business credit-ready. Part of the processes is to establish your online presence and create business listings in relevant directories. Thryv can automate the process while it offers you a more convenient, end-to-end solution to run your business.

Thryv stacks up nicely next to other all-in-one business platforms. However, if listings are all you’re concerned with, you might do better to try another service or submit your business manually (depends on your budget). Overall, I do recommend you check out everything Thryv has to offer. And, if you have questions, you can easily get a company rep to show you around with a free demo.

Now, if you’re interested in learning everything you need to get $100K in business credit in 30 days, join Business Credit Workshop today.

This is How to Build Business Credit Fast [Step-by-Step Guide]

By Joe

Here on our blog, you’ll find how to get business credit. Furthermore, we’ve shared a ton of articles about various funding options, lender reviews, and other relevant advice. What we haven’t revealed (publicly) is how to build your business properly to obtain credit, which is the core of our mission — the skills that Business Credit Workshop members master.

A high business credit score can help you increase funding options beyond the limitations of personal credit and even lower insurance rates.

Now, I’m going to lift the curtain and share the bricks you need to lay (and how to lay them) if you want to build business credit in 30 days. Here’s what’s in store:

Intro: Business Credit FAQs
5 Steps to Build Business Credit
Final Takeaway

I assume you are tempted to skip around, but I recommend you read the entire article. Each section contains little gems of wisdom to not only tell you what to do, but show you how to do it right.

If you’re ready, let’s go!

Intro: Business Credit FAQs

Before we explore the steps to take, I want to use this space to quickly answer some of the top questions I hear all the time about building businesss credit.

Can I use my EIN to apply for credit?

Yes, if you have an EIN assigned by the IRS, you can use it to apply for business credit.

Is it hard to get a business credit card?

No, it is not hard to get a business credit card, as long as you have a high business credit score.

Do business credit cards pull personal credit?

Some business credit cards do a soft or hard pull to your personal credit and some do not – the latter is rare.

Can an LLC have a credit score?

An LLC can have an employer identification number (EIN) and a DUNS number from Dun & Bradstreet. These identification numbers represent entities that can have credit scores separate from personal credit scores.

Can an LLC get a loan?

Yes, a business entity like an LLC or other corporation can apply for and get a loan.

Can I open a credit card for my LLC?

Yes, you can open a credit card for your LLC if it has a high business credit score.

Can I buy a house with business credit or can an LLC buy a house?

Yes, you can use business credit to purchase real estate on behalf of an LLC.

How long does it take to build business credit?

You can build business credit in as few as 30 days.

What are the easiest business credit cards to get approved for?

The business credit cards with the lowest credit requirements are typically store cards with net 30 payment terms.

Can you build business credit with bad personal credit?

Yes, you can build business credit with any personal credit score. However, many lenders require a personal guarantee, some require a hard or soft pull to your personal credit score, and poor personal credit limits your business credit options.

However, a low personal credit score isn’t a death sentence. Check out this Credit Secrets book review.

Now, how do you build business credit fast?

5 Steps to Build Business Credit

Since I started teaching owners how to get business credit, I’ve honed the process into a fully-sharpened, seven-step system. And, the first five steps of the proceess relate to business credit building; this is the first time I’ve shared them with non-members.

Before you get your hands dirty, here’s a quick tip: Business credit is a lot like personal credit — the fundamental rule is that you must pay your debts as agreed to maintain a good score. With that in mind, let’s dive in.

Step 1: Form Your Business

In construction, the first steps of building are to prep the site and lay a foundation. Likewise, your business needs a strong foundation: proper entity formation. Here are a few considerations.

First, your business name should be neutral. If you call your company Legacy Real Estate, your entity will be limited to funding options available to real estate companies. However, a company name like Legacy Management keeps you open to more generic funding options.

On a similar note, your business category should be neutral. Business Management is a safe category for most companies. And, you can always establish multiple brands under one legal entity.

Next, once you establish your business name, don’t change it. Lenders will want to see proof that your company is dependable and using the same business name over a long period will ensure this.

Finally, how do you want to establish your business entity? Would you like to hire an attorney to do it for you, use an online service like Legal Zoom, or do so manually through your local Secretary of State?

Step 2: Get Your Company “Business Credit Ready”

Think of getting “business credit ready” as adding a rough frame to a structure. Business credit readiness involves several steps.

Establish your physical address (don’t use a P.O. box) – As a rule, a P.O. box doesn’t seem professional in lenders’ eyes.
Get business insurance if you need it – Forbes lists 13 types of insurance that small businesses might need.
Obtain the required business licenses – You will need to file your business with your local Secretary of State Office. Some towns require licensing for certain types of businesses. Check with your city or county to see what additional licenses you might need.
Create an online presence – At minimum, your business needs a website and branded domain name. The name and address should be the same as what’s listed in your legal business entity records.
List your business in relevant directories – You’ll want your business listed in relevant directories online and offline directories, including 411. Each of these directories should include the same information about your business (name, address, phone number, etc.). This will help your business appear more trustworthy and legitimate to lenders when you start the application process.

To accompany the above steps, you will also need a phone number and a business bank account. Here are a couple of tips.

Get a local, physical, landline number. Either call your local phone provider for this or use an online (VOIP) service.
Establish a business checking account that you plan to use long-term.

When the time comes to apply for credit, you may also need operating agreements and other business documents, so keep every record handy.

Step 3: Network With Local Banks

A network is crucial to success in anything. Buildings require electrical, plumbing, and HVAC systems while business credit involves a network of real people – bankers and other financial professionals.

If you can, attend local Chamber of Commerce events. If you’re not able to, network online with locals that you can build rapport with. Through authentic relationships, these people can teach you to about the underwriting processes for establishing major lines of business credit.

Note: When you drive around in your community, keep track of all of the small community banks and credit unions in you see. Then, research what financing programs they offer.

We recommend a spreadsheet of all business credit cards, business lines of credit, business loans, and other offers for each bank near you so that you can see them side-by-side before you make a decision. Furthermore, you’ll want to know if these banks lend their own money. If they don’t, find out who their underwriter is so you can get a feel for what the requirements will be.

Step 4: Setup Business Credit Profiles

Setting up business credit profiles is like installing insulation in a building. This is the padding within the walls of your business that will make it so that banks are willing to lend to you.

Your business will have a few business credit scores. The most important is your PAYDEX score from Dun & Bradstreet (D&B). Since businesses don’t automatically have a D&B profile, you will need to set yours up and establish a DUNS number.

You can expedite the process of obtaining a DUNS number for $49 so that you don’t have to wait a month to receive it.

You will also want to monitor your Equifax and Experian business credit scores, which can be done for free here:

If you do see inaccuracies, now is the time to fix them.

I recommend you monitor your business credit with Nav (essentially the CreditKarma for businesses). There are a ton of business credit monitoring services that cost anywhere from $4 to $30 per month. Stay away from them. You can get everything you need for free through Nav.

The only time I recommend paying for full credit reports and scores is if something doesn’t look right and you need to dispute or correct an item on your report.

Step 5: Build Small Trade Lines of Credit

To make a building habitable, you need to add drywall, flooring, siding, and roofing. And, in business credit, your small tradelines of credit are what actually seal the deal. Once you have established the proper number of tradelines and those tradelines have reported to the credit bureaus, you will have a perfect PAYDEX score.

I’ll say it one more time: the key to a high business credit score is that the trade lines you establish report your on-time payments to business credit bureaus, including D&B. You can also use gas cards and store cards. Just be sure to do your research and make sure your payments will be reported.

While you might be able to qualify for some revolving lines of credit at this point, I recommend you always start with tradelines. Crawl before you walk if you want to remain stable.

Final Takeaway

Establishing and building business credit is crucial for companies who want more freedom in the way they fund their operations. Once you’ve completed the steps above, all you need to do is optimize your credit score and apply for funding, which is like adding trim, fixtures, mirrors, and windows then taking a final walk through the home you’ve built.

To dive deeper into the full, seven-step process, read exclusive business tips, learn exactly how to setup your credit profiles the right way, and ultimately learn how to obtain $100K in business credit in 30 days, sign up for Business Credit Workshop.