Step 20. Apply For Credit Accounts for Vendor Credit

There are starter accounts from various lenders that allow you to get credit for any real business, even when the business has no credit history. To get started, you’ll need at least three starter accounts.

Now you can start applying for business vendor accounts that will help you build your business credit profile and scores. Vendors and suppliers listed in this step are the easiest to get approval from and you can use them to conduct your day to day business operations. The rest of the vendors are displayed in Business Listings of our site. It’s essential that you thoroughly understand the approval process and requirements listed for each vendor. As you apply for lines of credit, you can always return to this section for more information and updates on new vendors to apply.

It’s important that you acquire credit from various vendors so that you jump-start operations and help expand your business opportunities. Before you can apply for business funding and bigger business loans, you’ll need at least 5 credit lines ( 3 with Payment Terms: Net 30 and 2 with Payment Terms: Revolving ), but preferably 8 lines of credit ( 5 with Payment Terms: Net 30 and 3 with Payment Terms: Revolving) from vendors who report to all of the three major business credit agencies. The credit sources listed in Business Funding page will not approve your company unless you already have at least 8 required trade lines, so this is a crucial step.

Always leave your personal information blank when applying for vendor accounts. If you have a vendor representative ask for personal information, such as a Social Security number, tell them that you want to qualify for credit based entirely and exclusively on your business information.

You may need to provide a personal guarantor for the credit line when working with some vendors. Providing a personal guarantor is fine as long as there is no default, which will likely affect that person’s personal credit or finances. You should make an effort to never deliver late payments, as it will harm your business credit.

When you are approved for vendor credit, you must use it immediately and consistently.

As you progress, track the vendors that you have applied to and document your success, as well as the number of active trade lines you have acquired.

The most important factor here is to grow your business by establishing a positive payment history. A single purchase will not suffice; you need to use your credit line each month on a consistent basis. This will allow your business to build strong credit scores with multiple agencies.


Quill

Vendor Profile: This company sells office supplies, as well as products for cleaning, packing, shipping, school, and printing. They can help with filing and storage needs for your business and can deliver discounted brand-name products.

Approval Requirements:
– Must have an EIN Number
– Must have a D-U-N-S Number
– Must provide 3 trade references
– Must provide 1 bank reference
– Must have an established D&B Paydex and Experian score.
– Prepayment might be required for first several orders.

Business Owner discussion thread Click Here


Payment Terms
: Net 30
Reports to: Dun & Bradstreet

CLICK HERE to Apply


Global Industrial

Vendor Profile: Global Industrial is a leading distributor for the industrial supply industry. They feature a wide variety of over 900,000 products directly to you or your customers fast and reliably with door to door delivery.

Approval Requirements:
– Must submit a complete credit application via mail or fax.
– No personal guarantor is required
– Must provide trade references
– Must have an EIN Number

Business Owner discussion thread Click Here


Payment Terms:
Net 30
Reports to: Dun & Bradstreet

CLICK HERE to Apply

Uline

Vendor Profile: If you need shipping, industrial, janitorial, or packing materials, you should order from Uline Shipping Supplies. This vendor has a reputation for delivering no back orders and shipping products on the same day that the order is made.

Approval Requirements:
– Must have an EIN Number
– Must have a D-U-N-S Number
– Must provide 3 trade references
– Must provide 1 bank reference
-Prepayment might be required for first several orders

Payment Terms: Net 30
Reports to: Dun & Bradstreet

CLICK HERE to Apply


Grainger

Vendor Profile: Grainger’s provides industrial supplies with over 1 million items available. Easy to order and has fast shipping and delivery!

Approval Requirements:
– Must have an EIN Number
– Must submit a complete credit application via mail or fax.
– No personal guarantor is required
– Provide invoice from Quill
– Must provide trade references

Payment Terms: Net 30
Reports to: Dun & Bradstreet

For Real Insight – Click here

CLICK HERE to Apply

Enco Manufacturing Company

Vendor Profile: Manufacturing machinery, cutting tools, and industrial supplies.

Approval Requirements:
– Credit Check: Dun & Bradstreet
– Must submit a complete credit application via mail or fax.
– No personal guarantor is required
– Must provide trade references
– Must have an EIN Number

Payment Terms: Net 30
Reports to: Dun & Bradstreet

CLICK HERE to Apply

S. Walter

Vendor Profile: You can rely on this company to provide shopping bags, gift wrap, and other packaging accessories for your products.

Approval Requirements:
– Must have an EIN Number
– Must have a D-U-N-S Number
– No personal guarantee is required.
– Must provide 2 trade references

Payment Terms: Net 30
Reports to: Dun & Bradstreet

CLICK HERE to Apply

Vista Print
Vendor Profile: For promotional items for your business, Vista Print is a valuable resource. The have all the various items you might need, including business cards, pens, stationery, signs, awards, apparel, and even candy. 

Approval Requirements:
– Must have an EIN Number
– Must have a D-U-N-S Number
– No personal guarantee is required.
– Must provide 3 trade references

Payment Terms: Net 30
Reports to: Dun & Bradstreet

CLICK HERE to Apply 

Dell Business Credit Account

Vendor Profile: Computer equipment, printers and electronica.

Approval Requirements:
– Must have a Paydex Score of 80 on your company’s D&B report
– Must have an establish business credit report
– Must have an EIN number
– A personal guarantee is required including your SSN number and D.O.B and identification numbers such as Drivers license or State ID.
– Must have a business checking account.

Payment Terms: Revolving
Reports to: Dun & Bradstreet

CLICK HERE to Apply


Home Depot

Vendor Profile: This famous company is the world’s largest retailer for home and building supplies, and you can create a commercial account to get the items you need. From remodeling an office to purchasing new appliances or power tools, Home Depot has virtually everything you’ll need. You can use credit lines by shopping online or using their website.

Requirements for Approval:
– Must have an EIN Number
– Must have a D-U-N-S Number
– Must be in business for a minimum of 3 years
– No personal guarantee is required

Payment Term Length: Net 30 Days
Reports to: Dun & Bradstreet and Experian Business

Apply now CLICK HERE 


Lowe’s Hardware

Vendor Profile: Variety of quality products for your office or home office. Online purchasing and delivery is available.

Approval Requirements:

– Apply online for approval with your D-U-N-S Number.
– $1k credit limits for businesses with limited history.
– 85 or higher Paydex score you may receive up to $5k in credit limits.
– Minimum years in business : 2 years
– No personal guarantee is required if you have been in business for at least 2 years.
– Personal guarantee is required if you don’t have any business credit history for at least 2 years.

Payment Terms: Revolving
Reports to: Dun & Bradstreet and Experian Business

CLICK HERE to Apply

Staples

Vendor Profile: Office products, office supplies, office furniture and much more. Online shopping and ordering are available

Approval Requirements:
– Must have a Paydex Score of 80 on your company’s D&B report
– Minimum years in business: 2 years
– Must have an EIN number
– Must provide 3 trade references
– A personal guarantee is required including your SSN number and D.O.B and identification numbers such as Drivers license or State ID.

Payment Terms: Revolving
Reports to: Dun & Bradstreet and Experian Business

CLICK HERE to Apply

 

Office Depot

Vendor Profile: Office supplies, and a variety of office products including good deals on printer ink.

Credit check: D&B business credit report or Experian Business Report

Approval Requirements:
– Must have a Paydex Score of 80 on your company’s D&B report
– Must have an EIN number.
– No personal guarantee is required if you have been in business for at least 2 years.
–  Personal guarantee is required if you don’t have any business credit history for at least 2 years.

Payment Terms: Revolving, Net 30
Reports to: Dun & Bradstreet and Experian Business

CLICK HERE to Apply


The Walmart Business credit card

Vendor Profile: Big retailer with the lowest prices and huge selection of products anything from tools, electronics, clothes to  home and garden.

Approval Requirements:
– Must have a Paydex Score of 80 on your company’s D&B report
– Must have an established Experian & Equifax business credit report
– Must have an EIN number.
– A personal guarantee is required
– You can try submitting the application without personal guarantee and only with you EIN number.

Payment Terms: Revolving

Reports to: Experian Business & Equifax Small Business

CLICK HERE to Apply

Costco Anywhere Visa Business Card

Vendor Profile: Wholesaler which is great for cash back on all purchases.
1% cash back on all other purchases.
2% cash back on all Costco purchases
3% cash back on restaurants and eligible travel purchases
4% cash back on eligible gas

Approval Requirements:
– Available only for Costco members.
– Online application.
– Must have an EIN number.
– No personal guarantee is required if you have been in business for at least 2 years.
– Personal guarantee is required if you don’t have any business credit history for at least 2 years.

Payment Terms: Revolving

Reports to: Experian Business & Equifax Small Business

CLICK HERE to Apply

Best Buy

Vendor Profile: Large selection of computers, electronics, and other business products for your company.

Approval Requirements:
– Must have a Paydex Score of 80 on your company’s D&B report
– Must provide 3 trade references and a bank reference.
– Must have $10k or more in credit limits reporting
– Must have 10 reporting trade lines on your company’s D&B report

Payment Terms: Revolving

Reports to: Dun & Bradstreet

CLICK HERE to Apply

Amazon Corporate Credit Line

Vendor Profile: Largest online retailer for anything your business needs.

Approval Requirements:
– Must have $10k in credit limits  with at least 5 reporting trade lines with
– Must have an Equifax Business Report history.

Payment Terms: Revolving

Reports to: Dun & Bradstreet, Experian Business, and Equifax Business.

CLICK HERE to Apply

76 FLEET CARD

Vendor Profile: Oil and Gas for your drivers. universal acceptance at Conoco, 76 or Phillips 66 locations. Great card to build up business credit.

Approval Requirements:
– Must have a Paydex Score of 80 on your company’s D&B report
– Must be in business a minimum of 2 years.
– Must provide 1 bank reference.
– Must provide 3 trade references
– Must have an EIN number, apply without entering your social security.
– No personal guarantee is required if you have been in business for at least 2 years.
– Personal guarantee is required if you don’t have any business credit history for at least 2 years.

Payment Terms: Revolving
Reports to: Dun & Bradstreet, Experian Business & Equifax Small Business

CLICK HERE to Apply

 

Shell Fuel Card

Description: Energy and petrochemical companies. Provides you valuable tools to help you save time and money to help you keep your company’s vehicles in good and running condition.

Approval Requirements:
– Must have a minimum 80 Paydex Score on your Dun & Bradstreet credit report
– Must have an Experian scores of at least 650
– No personal guarantee is required if you have an established business credit history.
– The personal guarantee may be required if you don’t have any business credit history.

Payment Terms: Revolving
Reports to: Dun & Bradstreet and Experian Business

CLICK HERE to Apply

Chevron Gas Card

Vendor Profile: Gas. The business card is accepted at thousands of Chevron and Texaco stations for gas, tires, batteries, and more.

Approval Requirements:
– Must have a Paydex Score of 80 on your company’s D&B report
– Must be in business a minimum of 2 years.
– Must have an EIN number
– No personal guarantee is required if you have established business credit and have been in business 2years.
– A personal guarantee is required if you don’t have any business credit history for at least 2 years.

Payment Terms: Revolving
Reports to: Dun & Bradstreet

CLICK HERE to Apply

United Rentals

Vendor Profile: Construction and industrial equipment rental company

Approval Requirements:
– Fill out an online credit application on their website.
Credit Check: Equifax Small Business or Experian Business
– Apply online.
– No personal guarantee is required – Complete the application without personal information and SS# as a personal guarantee isn’t necessarily required
– They approve most businesses for credit terms

Payment Terms: Net 30
Reports to: Equifax Small Business

CLICK HERE to Apply

OnlineLabels.com

Vendor Profile: You can work with this vendor to get blank sheet labels for your business. They offer thousands of different options, including direct thermal and thermal transfer rolls. You can also order custom print labels from their site. t

Requirements for Approval:
Must have EiN number
– Your organization has been in business for 2 or more years
– You have established credit with other businesses
– You have an active phone number, fax number, address and website
– You plan on placing multiple orders with us
– Must provide trade references

Payment Term Length: Net 30 Days
Agency Reporting: Dun & Bradstreet

CLICK HERE to Apply

Sears Commercial One

Vendor Profile: Appliances, tools and many other products.

Credit Check: Dun & Bradstreet, Experian Business and Equifax Small Business

Approval Requirements:
– Must have a Paydex Score of 80 on your company’s D&B report
– Must be in business a minimum of 2 years.
– Must have an EIN number, apply without entering your social security.
– No personal guarantee is required if you have been in business for at least 2 years.
– Personal guarantee is required if you don’t have any business credit history for at least 2 years.

Click here for discussion thread

Payment Terms: Net 25
Reports to: Dun & Bradstreet and Equifax Small Business

CLICK HERE to Apply

UPS Business Account

Vendor Profile: Wheather you are shipping one package, 100 or freight, UPS services can help you with allof your shipping needs while building your business credit.

Credit Check: Dun & Bradstreet, Experian Business and Equifax Small Business

Approval Requirements:
– Must have a D-U-N-S Number
– Must be in business a minimum of 2 years.
– Must have an EIN number, apply without entering your social security.
– The owner of the business must apply and provide a credit card to be on file.
– Call and ask for a net 30-day account
– Click here for consumer discussions.

Payment Terms: Net 30
Reports to: Dun & Bradstreet

 

CLICK HERE to Apply

FedEx Office Commercial Account

Vendor Profile: Use FedEx Office Print Online to upload your documents and have them printed at any FedEx Office. In addition you can manage your day to day business shipping needs.

Approval Requirements:
– Must have a D-U-N-S Number
Credit Check: Dun & Bradstreet
– Must have an EIN number, apply without entering your social security.
– The owner of the business must apply and provide a credit card to be on file.
– Might need to provide trade references.

Click here
for consumer discussion thread.

Payment Terms: Net 30
Reports to: Dun & Bradstreet

CLICK HERE to Apply

Remember, the above suggestions are just a broad overview of what will be needed. You won’t need to start on them right away, because you will review them with each step in the upcoming guide.

To Do List To Complete In This Step

1. Review vendor approval requirements and apply.

2. Get at least 5 Net 30 Vendor accounts.

3. Get at least 3 Revolving credit accounts.

Vendor Credit Lines
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