You must start a business credit profile and score with starter vendors. Starter vendors are ones who will give you initial credit even if you have no credit, no score, or no tradelines now.
Most stores like Staples will NOT give you initial starter credit so DON’T even try applying.
Here are some awesome starter vendor accounts to consider:
Laughlin Associates, deals with corporate setup and compliance. Report to Experia. Only 411 listing and EIN required. Reports in 30-60 days and net 30 Terms.
Quill Office Supplies, office, packaging, and cleaning supplies. Report to D&B. Must place initial order first unless D&B score is established.
Usually they’ll put you on a 90 day prepayment schedule. If you order items each month for three months, they typically approve you for a Net 30 Account.
Gempler’s, work supplies and products. Report to D&B. Place initial order over $50 and select “Invoice me” option.
They will pull credit. If not approved, pre-pay for order and keep purchasing and choosing “invoice me” option until approved for Net 30 account.
Reliable Office Supplies, office supplies and promotional products. Report to D&B, Experian and Equifax.
Place initial order, then request your order to be invoiced or billed to your company. They will pull your credit.
If not approved, keep ordering and requesting to be invoiced or billed. The more orders you place the better your chance of approval for Net 30 terms.
Uline Shipping Supplies, shipping, packing, and industrial supplies and reports to D&B.You must have your DUNS number.
They will ask for two references and bank reference. First few orders might need to be pre-paid to initially get approved for,Net 30 terms.
Monopolize Your Marketplace, everything you need to know about marketing and business 10 audio CD set. Report to Experian and a true starter account.
Upon check out choose “4 equal payments of $59.99” option and first charge takes place in 30 days. Need bank account, EIN, and deliverable address and 30-60 days for reporting.
You might need to get some vendors you won’t often use just to build your initial credit. Do NOT put your SSN on the applications.
Remember to pay your bills EARLY, the key to a good score.
Do NOT start with store credit… you’ll get denied… wait until you have five accounts reported.
And do NOT apply for cash credit until you have 10 reported accounts.
Contact us today to learn more about building credit for your business!
Source by Manmohan Mehta
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