Top Net 30 Vendors for Building Business Credit
Before you start applying for vendor accounts, it is important to target your efforts by applying for accounts that you are likely to qualify for. Some companies have more stringent requirements. Here is a quick reference to show you how to start with easy net 30/10 terms and work your way up to additional accounts.
It is recommended you take these steps before you apply for vendor credit:
1) Get an Employer Identification Number (EIN) from the IRS. Many businesses obtain an EIN for tax reporting purposes. An EIN will not be the identifying number in the business credit system the way social security numbers are for personal credit. However, you will need an EIN for credit applications. A D&B number will be the identifying factor
2) Register your business with your state. It’s strongly recommended you form a legal entity such as an LLC, S Corp or C Corp. If you decide to continue operating as a sole proprietor (no legal entity). If you like, you can also register your business name as a fictitious name (also known as a “DBA”) with your state.
3) Get a D-U-N-S number if your business does not already have one. This is the identifying number in the Dun & Bradstreet business credit database.
4) List your business phone number with directory assistance
http://www.listyourself.net/ListYourself/
Starting Vendors
It is best to pay 15 or even 20 days ahead of the due date so it reflects that your business pays sooner than terms.
Some starter tradelines to start with as a new business establishing business credit:
Uline (www.uline.com)
• Net 30
• Reports to D & B and Experian (business credit)
• Apply Online
• Create an account, sign in, place an order, at checkout choose bill me (net 30) or option to invoice your order.
Quill (www.quill.com)
• Net 30
• Reports to D & B
• Apply Online
• Register for a new account, place an order, at check out select the option to invoice your order.
Gemplers (www.gemplers.com)
• Net 30
• Apply Online
• Register for a new account, place an order, at check out select the option to invoice your order.
Seton (www.seton.com)
• Net 10 (only reports on purchases of $250 or more)
• Reports to D & B and Experian
• Apply Online
• Register for an account, place an order, at checkout select “bill me later” as your payment method.
Grainger (https://www.grainger.com)
• Net 30
• Reports to D & B
• Register for an account, place an order, at check out select the option to invoice your order.
Summa Office Supplies https://summaofficesupplies.com
• Net 30
• Reports to Experian and Equifax (business credit)
- Use Referral Code SOSCWI (All Caps) when you place an order & select option to have order Invoiced
• Register for an account, place an order, at check out select the option to invoice your order.
Strategic Network Solutions https://stntsol.com/
• Net 30
• Reports to Experian (business credit)
• Register for an account, place an order, at checkout select the option to invoice your order.
Once you have activated an account and made an initial purchase of $60 or more you can use your new $1,000 line of credit to purchase remote support services, digital products and downloadables. The products available in their online store are computer hardware & software, office supplies, and eBooks.
Register and make an initial purchase from their website in the amount of $60 or more. After you make an initial purchase, they will extend your company a $1,000 Net 30 trade line of credit. It’s essential to use your credit line on a regular basis since they incrementally increase your credit limit by $500 based on prompt payments and regular account activity.
Other Vendors for your knowledge…
· Advance Auto Parts
· Amazon
· CleanItSupply
· ePromos
· FedEx
· HD Supply
· Home Depot
· Laughlin Associates
· Lowes
· Newegg Business
· Office Depot/Office Max
· Staples
· UPS
· Wayfair
GAS COMPANIES
· BP Gas
· Chevron
· Conoco
· Shell
· Valero Gas
LENDERS AND FINANCING COMPANIES
· BlueVine
· The Business Backer
· Fundation
· Lending Club
· OnDeck
· QuarterSpot
· Seek Capital
http://www.listyourself.net/ListYourself/…