Using 30 Day Net Vendors to Build Your Business Credit Score


Net 30 Vendors

One of the techniques I teach in the “7 Secrets of Obtaining Business Credit” is Establishing your first reporting trade lines using 30 day net vendor accounts.

Net 30 Vendors DNBIn the beginning of your journey it’s hard to get trade lines to report to the business credit bureaus because you don’t have business credit established and no lender wants to lend to your company. The solution is to establish “small business lines of credit” with companies that report to the business credit bureaus. “Small business lines of credit” meaning 30 day (or 15 day) net accounts. 30 day net simply means the amount owed is due in full in 30 days.

Here’s how it works. Similar to many companies, Quill, offers paper supply products and 30 day net payment terms. Quill offers two forms to pay for their products 1.) Pay By Credit Card (Traditional Payment Method) 2.) Invoice My Account (30 Day Net Terms). You’ll choose option 2 – invoice my account.

You will receive the product in the mail and you did not pay for it yet! Essentially a small line of credit (trade line) was extended to your company. Now, you need to pay the bill in the mail when it arrives. Upon payment, Quill will report to the business credit bureaus and ‘voila!’ you are on your way to building your business credit score. The more trade lines you build, the stronger your business credit score will grow.

Would you like to see a FULL, 2014 UPDATED LIST of “30 Day Net Vendors” with their contact information (similiar to Quill)?

Join Business Credit Workshop Online and receive the updated list below! See all the benefits of Joining Business Credit Workshop Online by CLICKING HERE. Already a member of “Business Credit Workshop Online”? Login Below… Please Login or Register to read the rest of this content.

  • http://www.businesscreditworkshop.me Joe Lawrence

    @aaron I would suggest as many as you can afford. Your first goal should be to get 5 tradelines/net 30 accounts. Then set a goal of 10.

  • Cjgiftsolution

    How do you find Net 30 trade suppliers for vending supplies for instance?

  • http://www.businesscreditworkshop.me Joe Lawrence

    Cjgiftsolution- The easiest method would be to do an online search, then ask the company if they offer NET terms.

    Coincidentally, Quill offers a variety of Vending Supplies and also offers NET30 terms.