Lewis Tappan founds the Mercantile Agency (1841–1844)

Lewis Tappan founded The Mercantile Agency in New York City on July 20, 1841. Recognizing the need for centralized credit reporting, he established a network of correspondents to provide objective credit information to subscribers. This agency became the precursor to Dun & Bradstreet and modern credit-reporting services, expanding its client base despite privacy concerns.

Episodes

Background and detail

Background. Lewis Tappan, an American abolitionist, founded The Mercantile Agency in New York City in 1841. He recognized the need for a centralized credit reporting system and formed the company to create a network of correspondents who would provide reliable, objective credit information to subscribers. The agency was the first commercial credit-rating agency in New York City.

Operations. Tappan used his abolitionist connections to expand and update the company's credit information. Despite accusations of personal privacy invasion, the Mercantile Agency had over 280 clients by 1844. The agency was the precursor to Dun & Bradstreet and modern credit-reporting services, which are still in existence today.

Legacy. The Mercantile Agency is the ancestor of Dun & Bradstreet. Dun & Bradstreet traces its history to the formation of The Mercantile Agency in New York City by Lewis Tappan on July 20, 1841. The agency established the foundation for modern commercial data, analytics, and insights for businesses.

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Sources

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