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Below is the link to watch the training as promised:
https://vimeo.com/user75331892/review/1051303557/823f05e631
Here is a summary of the training you’re getting:
Ask Joe Call
Key Topics Covered:
- Elan Financial Business Credit Cards:
- Elan Financial underwrites business credit cards for many banks, which means multiple cards from Elan have stricter limits compared to banks that underwrite their own cards.
- Pros of PNC’s Business Credit Card:
- 0% APR for the first 13 billing cycles on both purchases and balance transfers (rare feature).
- Recommendation: Open a business checking account with the bank first for better approval chances.
- Portfolio Banks vs. Elan Banks:
- Portfolio Banks / “Backyard Banks” (e.g., PNC, Key Bank, Valley National Bank, M&T Bank):
- Underwrite their own credit cards.
- Allow applicants to secure multiple cards without the restrictions of Elan.
- Ideal for building a business credit portfolio.
- Elan Banks:
- While useful, these cards have limits on how many can be secured in a short timeframe.
- Be mindful of “underwriter overwhelm” if applying for multiple cards through the same underwriter in a short time.
- Portfolio Banks / “Backyard Banks” (e.g., PNC, Key Bank, Valley National Bank, M&T Bank):
- Exploring Local and Backyard Banks:
- State-specific banking resources, such as the Department of Banking websites, provide lists of local banks, many of which are not included in SBA lender lists.
- These smaller, lesser-known banks often offer personalized lending options and business credit products.
- Users can leverage tools like AI to identify state-specific banking resources.
- The Importance of Good Debt:
- Business credit should be used for good debt, such as investments in advertising, real estate, or other income-generating assets.
- Properly leveraging credit can help scale businesses without giving up equity.
- A clear distinction was made between “good debt” (e.g., investments generating cash flow) and “bad debt” (e.g., consumer spending).
- Questions and Updates:
- Addressed concerns about email deliverability for call reminders. Users were encouraged to check their spam or promotions folders and mark the emails as important.
- Reminders:
- Access previous calls and resources by logging into the BCW blog and navigating to the “Ask Joe” area.
- Submit questions for future calls in advance via the same portal.
Key Takeaways:
- Focus on Backyard Banks to maximize your ability to secure multiple business credit cards.
- Explore local and backyard banks for hidden funding opportunities beyond mainstream options.
- Use business credit responsibly to grow your business with assets that generate income.
- Stay engaged with the BCW program for updates, resources, and ongoing education.
Resources Mentioned:
- BCW Blog: BusinessCreditWorkshop.me
- State Department of Banking databases for local bank exploration.
Next Steps: Submit questions for the next call via the BCW portal and explore the provided resources to identify more funding opportunities tailored to your state and business needs.
How to get approved for the Amex Business Gold Card (Easy)
How to use NAV Prime to Build Business Credit (Fast)
HD Supply Review: A Closer Look at This Vendor’s Net 30 Program

One of the easiest ways to build business credit is by acquiring a Net 30 account. With such an account, you can establish your credit profile in 30 days. Since it typically involves tier-1 vendor tradelines, often dealing with large corporations or companies with a strong market presence, you can gain access to an account even with little credit history for your business.
This is where HD Supply comes in. HD Supply is a leading provider of maintenance, repair, and operations (MRO) products and services. With over 40 years of experience, the company has a good reputation for reliability, innovation, and quality, which is why it has become one of the trusted partners of businesses from many industries. There are also 40+ distribution centers in 25 states, making delivering quality, branded, and proprietary products right to your office or business address easy and quick.
You can choose from a diverse range of products at HD Supply, from HVAC to plumbing to janitorial supplies. The online platform is also where you can purchase building materials and tools for your next project. HD Supply caters to the needs of industry professionals, including contractors and facilities managers, providing necessities for the maintenance and upkeep of buildings, infrastructure, and commercial properties, among others.
HD Supply is also a top choice for many small business owners and startups because it offers flexible payment terms through the Net 30 vendor program. With this program, you can access a wide range of essential materials and supplies while deferring payment for up to 30 days. The company is known for giving customers valuable flexibility and cash flow management.
Let’s look at how HD Supply’s Net 30 vendor program works, its benefits, and how it can benefit your business’s procurement processes.
Contents
- An Overview of HD Supply’s Net 30 Vendor Program
- Product Range and Quality
- Pricing, Payment Terms, and Conditions to Be Aware Of
- FAQs
An Overview of HD Supply’s Net 30 Vendor Program
HD Supply’s Net 30 program is designed for businesses to benefit from the flexibility and convenience of purchasing essential supplies and tools while delaying payment. This gives them the ability to manage their cash flow efficiently.

The program comes with the following key features:
- Flexible Payment Terms: You can pay purchases within 30 days of invoicing, letting you access products without providing immediate payment.
- Extensive Product Range: There is a comprehensive variety of products in numerous categories, including appliances, cabinets and countertops, linens, HVAC, and plumbing. You can also purchase electronics, furniture and décor, and gas products from the online shop.
- Broad Range of Services: HD Supply also provides custom products, from bi-fold doors to bypass doors, as well as rekeying services, bathroom vanities, window screens, and custom paint. Other services include renovations, financing, online solutions like e-procurement, online payment services, and many more.
- Simplified Procurement Process: The Net 30 vendor program from HD Supply helps streamline buying and obtaining needed materials for your business. You can then place orders conveniently and receive your invoice, which you can pay within the 30-day timeframe.
- Trusted Supplier: HD Supply is well-known for being a reliable supplier of quality MRO (maintenance, repair and operations) products and services that can support your operational requirements.
- Convenient and Efficient: The online platform makes it easy to place your order, track shipments, and manage any invoices you may have. You get to save time and effort in keeping up-to-date with your orders, allowing you to focus on more important business activities.
- Consolidated Purchasing: When you buy from HD Supply, you source a wide variety of products from a single supplier instead of purchasing from numerous other vendors. This approach simplifies the process, potentially reducing administrative costs for managing multiple vendors.
- Credit Building: Net 30 programs like the one from HD Supply encourage you to pay your invoices on time consistently. Doing so can help you build a positive credit history, which can potentially lead to increased credit limits and more financing options for your business in the future.
Having tradelines with a tier-1 vendor like HD Supply is advantageous to your business’s credit profile. That’s because it demonstrates a strong and reliable payment history with this reputable supplier. Many lenders and credit agencies consider these tradelines with tier-1 vendors, such as HD Supply, as favorable, particularly when assessing your business’s creditworthiness. It indicates that you have the ability to manage financial obligations responsibly.
This Net 30 vendor program can contribute positively to your credit profile and get the chance to increase your access to financing and favorable terms in the future. Head here to apply for an account.

The application form is quite comprehensive compared to starter vendors, (such as companies that are listed in this article).
You will need to provide the following information:
- Your business name
- Business physical and email addresses
- Contact numbers, including fax and phone
- Your requested credit limit or equivalent to your anticipated monthly spend
- Owner and management details
- Your name, job title, and other information
- Your bank account name, type, and number
- Specific purchasing instructions
You also have to upload documents, including tax exemption and credit sheet.

You must specify where to send invoices, whether via fax, email, or another option. Once completed, you can submit your application and wait for the response.
Product Range and Quality
HD Supply offers diverse products tailored to meet your needs, regardless of your business type and industry. There is a comprehensive selection of maintenance, repair, and operations (MRO) products, supplies, and materials, including:
- Appliances such as dishwashers, microwaves, trash compactors, and ovens
- Cabinets and countertops
- Cleaning and janitorial items, including trash cans and bags, dispensers, and floor equipment
- Doors and molding
- Electrical equipment, tools, and accessories, as well as conduit, raceway, and fittings
- Electronics like speakers, two-way radios, and TVs
- Food service supplies like cookware, dinnerware, and kitchen kits
More products are available, along with services, such as the following:
- Custom products like order forms, custom paint, signs, and custom-cut acrylic
- RenovationsPlus for renovation and building consultation services with dedicated expert and project manager
- Business services, including bin labels, customized reports, and strategic account management
- Order services to make tracking more straightforward, including package tracking, special orders, and appliance delivery
- Small business solutions, such as delivering nationwide the next day for free and flexible financing
- Professional training, including live classes and certifications
- Online solutions like electronic invoicing and online payment services
With all these offers, it is easy to see why HD Supply is often viewed as a one-stop shop for many businesses needing various supplies and equipment.
When it comes to quality, trusted companies like HD Supply always prioritize product quality to ensure their customers are happy. The company sources its items from reputable suppliers and manufacturers known for their durability and craftsmanship. Plus, HD Supply implements quality control measures on most of its products to assess and maintain product quality throughout the supply chain – that is, from procurement to delivery.
Pricing, Payment Terms, and Conditions to Be Aware Of
HD Supply provides competitive pricing on its products and services. The structure varies based on various factors, such as the type of product, quantity ordered, and other agreements. Be on the lookout for ongoing promotions and discounts to save more when buying supplies from HD Supply.
When it comes to building business credit, it can be an expensive strategy to use vendor tradelines. Some companies will ask for an application fee upon signing up for an account. Others will charge you a recurring membership fee so that you can continue to get access. But HD Supply is different. It is one of the few vendors that does not require any membership or application fees. All it needs is for you to pay the cost of the goods you buy, meaning there are no costs associated with this tradeline. Another great feature is that there is no minimum order requirement.
Now, on to the cautionary points:
- While there is no minimum order, this benefit only applies to your very first order.
- You will incur late fees if you do not pay off your balance on time.
- A minimum of $2 or 1.5% (equivalent to 18% per year) will be charged for all your past-due invoices.
- Not only will paying late cost you money, but it will also hurt your credit.
- You need good credit standing for your business; otherwise, your application will get rejected, particularly if you do not have existing credit.
- You can only pay toward your Net 30 account through a limited number of options: check, money order, ACH, and cash. This means you cannot use your credit card or any other payment method, which will incur a fee.
We hope you’ll consider our review about HD Supply’s Net 30 vendor program before you sign up. Having a Net 30 account with this company is an excellent choice, especially if you are a startup with a positive credit history or an established business. As it reports to Dun & Bradstreet, HD Supply is a great way to build your credit with this famous business credit bureau.
FAQs
What is HD Supply?
HD Supply is a leading maintenance, repair, and operations product distributor. You can also purchase construction supplies for use in a wide range of industries, such as hospitality, healthcare, government, and facilities maintenance.
How much does a Net 30 account from HD Supply cost?
Your HD Supply Net 30 account is absolutely free. However, you must be careful about the payment schedule to avoid late fees.
What are the benefits of applying for an HD Supply Net 30 account?
HD Supply reports to Dun & Bradstreet. You can also create an account even if you are a new business with no membership and application fees.
What can I buy from HD Supply?
HD Supply is where you can purchase industrial tools, equipment, supplies, and services to benefit your business.
What Does HD Supply Stand For?
It does not stand for anything specific as the company has been bought and sold and re-bought by Home Depot. But the company started in 1974 with the name of Maintenance Warehouse. In 2004, the name was changed to HD Supply.
Using NET 30 Vendors to Boost Your Business Credit
You may be looking to not only build a long term relationship with a vendor like HD supply but also enjoy the benefit of boosting your business credit score as well. We have a free report that can show you how to quickly build up your business credit score in just 30 days, click here to grab your copy.
Plastiq Review: Can Plastiq Really Simplify Your Finances?

As you juggle numerous responsibilities, managing finances and making payments can often feel like a tightrope walk. This is where Plastiq comes into the picture. Plastiq is a platform offering financial services that promises to simplify bill payments and streamline financial transactions for both individuals and businesses.
In this Plastiq review, we will delve into the platform’s benefits, features, and more to help you decide whether it is worth considering or if you should explore other options. Let’s begin!
Contents
- What is Plastiq?
- Who Can Use Plastiq?
- Features and Benefits of Using Plastiq
- How Much Does Plastiq Cost?
- Privacy and Security Concerns
- Some Limitations and Other Considerations to Be Aware Of
- Verdict
What is Plastiq?
Plastiq aims to streamline cash flow management for businesses (and individuals) by providing instant access to working capital. Utilizing the platform enables you to make payments with credit cards, even if the merchant or supplier doesn’t accept cards. This flexibility allows you to cover a variety of expenses, from rent to taxes, as well as supplier payments, while leveraging existing credit card rewards and favorable payment terms.
To use Plastiq, you’ll need to first sign up and verify your account. Additionally, you’ll need to add a payment method, such as a credit card, bank account, or debit card. Here’s a step-by-step guide to making a payment:
Input the payment details, including the recipient’s information and the amount.
Choose the recipient, who can range from contractors and government agencies to suppliers and landlords. Plastiq accommodates various payment types, including bills, invoices, and other obligations.
Select the payment method, typically a credit card such as Visa, Mastercard, Discover, or American Express—all of which Plastiq accepts. Alternatively, you can use debit cards, checks, or bank transfers.
After choosing the payment method, schedule the payment or set up recurring payments for your bills.
Once confirmed and scheduled, Plastiq will process the payment on your behalf, charging the amount to your credit card and any applicable fees. The payment is then automatically sent to the recipient via their preferred method, such as a physical check, wire transfer, or ACH transfer.

Track your payment status on the platform and access your payment history to maintain organized records of your financial transactions involving Plastiq.
Unlocking working capital while automating your payables operation can help you maintain a healthy cash flow. This saves you valuable time that would otherwise be spent manually entering bills and making individual payments. With Plastiq, you can pay your suppliers promptly using their preferred payment methods while choosing the one that best suits your needs.
Who Can Use Plastiq?
Plastiq can be utilized by a wide range of individuals and businesses, but it is particularly well-suited for the following:
Business Owners: If you operate a business and wish to leverage credit card rewards and benefits for your expenses, Plastiq is an excellent option. You can use it to pay for expenses traditionally not accepted via credit cards, such as utility bills, taxes, and rent.
Real Estate Investors: You can use a business credit card as a down payment to buy real estate by sending the money from your credit card to the title company for the closing. Many readers ask how to pull cash off credit cards and this is one option to do it.
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Individuals: Plastiq is beneficial for individuals managing significant expenses. For example, real estate investors who need to make real estate-related payments can streamline their transactions with Plastiq while earning credit card points.
Small Business Owners and Freelancers: Whether you’re a freelancer or run a small business, maximizing cash flow is essential. Plastiq allows you to extend payment terms using a credit card, freeing up cash for other business needs while covering expenses on credit.
Individuals or Entrepreneurs Seeking to Streamline Payables: Simplifying payable processes is crucial in today’s fast-paced world. Plastiq’s integration with Automatic Data Processing (ADP), a leading provider of payroll and human resource management solutions, enables you to fund your business’s payroll with a credit card. The funds are then automatically processed through ADP’s payroll system, facilitating employee payments.
Merchants and Service Providers: Plastiq Accept, discussed below, allows users to receive credit card payments from customers. This service enhances transaction convenience for buyers and customers who prefer credit card payments.
Plastiq is an excellent option for individuals and businesses seeking to leverage their credit card’s credit line for various types of payments. It facilitates transactions where credit cards are generally not accepted.
Features and Benefits of Using Plastiq
Plastiq has a set of features for facilitating payments and managing cash flow, which include:
Plastiq Pay: Businesses and individuals can use Plastiq Pay to pay via credit cards. You can pay by card, such as your credit card, allowing you to fund payments automatically. These payments can be anything from vendor payments to payroll. This feature is particularly useful if you run a business and are looking to leverage credit card rewards. You can also use Plastiq Pay to extend your payment terms without needing the recipient to accept credit card payments directly.

Plastiq Accept: If you need to accept payments, Plastiq also has this feature for receiving payments from customers wanting to pay by credit card. Use Plastiq Accept so you can streamline the receivables process of your business. Accept is great for landlords, contractors, and other merchants or small businesses that do not usually take credit cards as a payment method.
If you wish to use both Pay and Accept, you can get more with Plastiq Connect, which is more comprehensive than the two products mentioned. There are also Pro and Enterprise plans, which you may be interested in, as they can benefit your business transactions. For a monthly fee, you can sync up your accounting software and make payments even more straightforward with scheduled bulk payments.
Plastiq offers plenty of benefits to its users, including payment flexibility. Users can pay bills and expenses with credit cards, manage their cash flow, and even leverage credit card perks, benefits, and rewards.
Plastiq also gives you more payment options in transactions where you typically cannot pay with a credit card. You can use Plastiq to pay for the following expenses:
- Bills and utilities, such as gas, water, electricity, Internet, and phone
- Rent
- Mortgage
- Tuition
- Taxes, such as income taxes and property taxes
- Government fees
- Suppliers, vendors, contractors, and service providers
- Subscription services, including subscriptions to streaming platforms, software, and gym membership
- Business expenses, such as office supply and equipment purchases, as well as advertising and travel costs
Plastiq is not only for businesses but also for personal expenses. You can use it to pay for groceries, entertainment, charitable donations, and shopping.

Here is another reason why you will like Plastiq. Plastiq’s platform is easy to use and understand, even if you are a new user. The interface is uncomplicated, so you can complete the payment process in just a few minutes by providing the payment details and the merchant’s choice method.
One more benefit is that Plastiq prioritizes the security of the users. The platform has robust encryption and other security measures. That is to ensure your personal and financial data stays protected in every transaction. We talk more about this subject later in the article.
If you have a small business, you will surely benefit from Plastiq’s short-term financing offers, which typically come with extended payment terms. You can immediately get funding for lines up to $100,000, which you can pay for up to 90 days. If you are qualified and accept the additional review Plastiq requires for loans, you may be able to borrow more, even up to $750,000.
How Much Does Plastiq Cost?
Unfortunately, Plastiq is not free, but there is a free trial for the first 60 days when you sign up for either Pay or Accept. But free does not mean completely free because charges apply for all transactions done via Plastiq. You will have to pay a convenience fee, which depends on various factors, including the payment amount, recipient, and method. Don’t worry; you will know how much the fees will be before you complete a payment transaction. That way, you can cancel the payment if you are unhappy with the additional charge.

Plastiq’s pricing model, as mentioned, is based on a per-transaction fee. Let us break it down:
Plastiq Pay: Unlike some competitors, this service starts at a $0 one-time purchase, meaning you do not have to pay to subscribe. However, you will incur transaction fees every time you use your credit card to pay an expense or bill.
Plastiq Accept: There is also no subscription cost for the Accept service, but transaction fees apply whenever you use Plastiq to accept payments.
The transaction fee is typically a percentage of the total payment amount, although it can vary based on the payment method and recipient. You can expect to pay anywhere from 1.5% to 2.85% of the amount you paid the merchant.
Other fees you should know about include:
Credit Card Processing Fee: You have other payment options with Plastiq aside from credit cards. However, if you choose credit, the platform may charge an additional processing fee, which your credit card network or processor charges you. Note that this is separate from the transaction fee imposed by Plastiq. The processing fee depends on your credit card and may range from two to three percent of the payment amount, but typically around 2.90%
Domestic Wire Transfers: Sending money to anywhere in the US costs $5 to $8.99.
Currency Conversion Fee: If you plan to pay in another currency, you must be aware that you could be charged a conversion fee. Once again, this fee is based on the percentage of the amount of payment you need to make, covering the cost of converting your transaction into another currency. Expect to be charged anywhere from one to three percent of the payment amount for this fee, or $39, whichever is higher.
Late Payment Fee: Plastiq may charge you a late payment fee, which is generally assessed if the payment is not processed on time or if you fail to pay by the scheduled payment date. Not only that, you also ding your credit score. The good news is that Plastiq offers earning Fee-Free Dollars (FFDs), which are usable for making payments without extra fees. FFDs can be earned through referrals or promotions. However, you must use them right away as they expire after 90 days. You can prevent the expiration by simply earning more, so be sure to keep an eye on the expiration date.
Refund Fee: If you request a refund, you may be charged a refund fee. This fee may be deducted directly from the refunded amount, covering the cost of the transaction automatically.
Short-Term Financing: If you borrow quick funds from Plastiq, you will need to pay 2.75% up to 10.65% on top of the amount you borrowed. The great thing about this offer is that you can choose terms from 30, 60, to 90 days.
Be on the lookout for discounts and promotions, which may appear from time to time. These offers, which are advertised on Plastiq’s website or through promotional emails, can reduce or even waive transaction fees for specific payment types. Make sure to read the terms and conditions before participating.
ACH bank transfers, electronic funds transfers, and BillPay are provided for just 99 cents. Mailed checks cost about $1.49.
Privacy and Security Concerns
As a user relying on Plastiq to make or accept payments, you want to ensure the platform is secure. The good news is that Plastiq utilizes advanced encryption technologies to keep financial and personal user information safe during transactions. All transmitted data is encrypted to certify protection against unauthorized access and other potential security threats.

You will also not have any issues with regulatory compliance, as Plastiq meets industry standards and regulatory requirements for data privacy and security, such as the Payment Card Industry Data Security Standard (PCI DSS). The platform undergoes security checks and audits regularly to continue complying with those standards, ensuring the highest level of data protection for users.
Another way that Plastiq addresses common security concerns is that it only partners with trusted payment processors and financial organizations. All payments made through the platform are processed on safe and reliable channels to significantly reduce the risk of fraud. Plastiq also uses robust security measures, which help detect and prevent unauthorized and fraudulent activities.
Additionally, Plastiq has a transparent privacy policy outlining the methods of collecting, using, and storing users’ personal and financial information. This privacy policy provides all details, including data processing, as well as your rights and options.
Finally, the platform employs multi-factor authentication among its many other security measures to verify user identities. You may need to provide additional verification steps, including one-time passcodes sent to your mobile device or email address.
If you have other issues or require assistance, Plastiq offers dedicated customer support for all concerns, including security-related inquiries.
Some Limitations and Other Considerations to Be Aware Of
While you can get rewards when you use your credit card via the Plastiq platform, there are cases where the payment fee, which can be around 2.9%, is higher than any rewards you get.
Sure, you can use Plastiq for various transactions, including those where credit cards are not typically allowed. However, there are also numerous other products that you cannot use the platform for, such as investments and paying for credit card debts. Also, you can only make mortgage payments using a Diners Club Card, Discover, or Mastercard. As of February 2023, you can no longer pay with American Express.
It should also be noted that Plastiq filed for bankruptcy in Delaware in May 2023. The company is still operating normally but is restructuring.
Frequently Asked Questions
What is Plastiq?
Plastiq is an online platform that allows you to pay bills with a credit card.
How does Plastiq work?
Plastiq works by you entering information of legitimate businesses to receive payments from you. Plastiq will then charge your credit card (personal or business) and send a check or ACH directly to the business of your choosing.
How much does Plastiq Charge?
Plastiq charges a fee of 2.9% plus a small delivery fee. They have monthly plans ranging from free to $119/mo.
What is Plastiq used for?
You can use plastiq to pay bills (using your credit card) from vendors that do not normally accept credit cards.
Verdict
Plastiq may be the right option for you. If one or more of the following speak for you, it may be a platform to consider:
- You need more time to gather cash but have credit available
- You run a small business and are planning to pay vendors with a credit card
- You want to accept credit cards for payment
Plastiq may not be worth considering for individuals, especially with the 2.9% credit card payment fee. This is especially true because credit card rewards are lower than the mentioned rate. Therefore, you lose money.
However, if you are a business (or even an individual) who requires assistance in financing a purchase or bill payment, Plastiq can benefit you. Don’t worry about not having immediate cash on hand, as you can get a few weeks to pay off your credit card balance and pay for your purchase with Plastiq.
As a small business owner, you also get several services that you may find interesting and worth exploring. For example, Plastiq Accept and Pay are services where you can accept payments and make payments, respectively. With Accept, customers can pay via credit card without worrying about merchant fees. You can also apply for short-term financing.
All in all, Plastiq is an excellent option for small and medium-sized businesses, thanks to its business-friendly features and services. It does help simplify your finances, from managing to making timely payments you can schedule. However, if you plan to use it as an individual wanting to take advantage of credit card rewards, you may want to look elsewhere.
Did You Know?
There is a little-known-way to get up to $100,000 in business credit cards without showing any financials…You can use this money to pay off debt, do more deals, grow your business or even run ads. Click Here to Download the Free Report and Discover How It’s Done!
Melio Payments Review: Can It Make Business Payments and Getting Paid Easier?

Any business requires managing finances, but it can be challenging. With the complexities involving accounts payable and receivable, keeping up with the payments is often difficult. Thankfully, there are solutions that you can try to streamline your finances and take control of your cash flow. Consider looking into Melio Payments, a platform that offers a comprehensive range of features, from making bill payments to invoicing and payment processing.
In this review, we will explore the platform’s features, benefits, and workings. Read on to determine whether it is what you need to optimize your business’s financial operations.
Contents
- What is Melio Payments?
- Melio Payments Key Features and Functionalities
- The Benefits of Using Melio Payments for Your Business
- How Melio Payments Works
- Accounting Software Integration
- How Much Does Melio Cost?
- User Experience and Reviews
- Conclusion
What is Melio Payments?
Melio Payments is a platform created by a financial technology company with the same name. This platform is designed for businesses to manage their accounts payable and receivable processes. If you utilize the platform, you can take advantage of various features to help you manage your finances more efficiently.
Melio Payments Key Features and Functionalities
When you sign up for Melio Payments, you can get a suite of financial tools and services that make your accounts payable and receivable processes much more straightforward.

For example, Melio allows you to pay your bills electronically. You can accomplish this task using bank transfers or debit cards. The best part about this feature is that it does not require the merchant or vendor to accept electronic payments. You can pay through the payment method you choose without actually using it. This means you do not have to write and mail physical checks, which can save a lot of time and even decrease administrative overhead.
Here are other key features that you can get out of Melio Payments:
Invoicing: You can use Melio to create and send professional invoices directly to your customers using the platform itself. To do this, log in to your Melio account and go to the Invoices tab in the dashboard. From there, you can access the existing invoicing features, which include creating a new invoice. You can then fill in the invoice details, including the recipient’s contact information, date, and number. You can also add line items in the dashboard with their own costs and quantities. You can then set the payment terms for the invoice, including the payment method and due date. Before sending, make sure to review and confirm.

Scheduling of Payments Including Recurring Payments: Melio allows you to set up recurring and one-time payment schedules in advance conveniently. That way, you can ensure all your bills are paid on time. This feature also helps manage cash flow, as you can plan and be sure that the funds will be readily available when the due date comes. You can set up recurring payments, such as rent and utilities, on the platform. They will automatically be paid on a weekly or monthly basis.
Accounting Software Integration: You can use Melio together with your favorite accounting software platform. It is popular with Xero and QuickBooks, two of today’s most used accounting solutions. Melio allows you to sync your financial data between the accounting software platform and the payment platform. That way, these platforms can automatically update the payment information and invoices. This saves you time as you no longer have to enter financial data manually. The integration with Xero or QuickBooks and other accounting software will be further explained later in this blog.
Management of Your Vendor Transactions: Melio has tools that allow you to manage vendor transactions easily. These tools are designed to help you gain better control and visibility of your accounts payable. For example, you can use Melio to centralize vendor information on the platform. This means you can manage and track transactions when dealing with different vendors, as you can quickly add new vendors and update vendor details, among many other features.
Payment Tracking: A crucial feature that you can find on the Melio platform is payment tracking, which gives you a real-time glimpse of the status of the payments you have made. You can also look at your payment history in the dashboard, which has detailed records of your past payments, including payment dates, recipients, and amounts. Tracking of payment involves not just the past but also the future. You can have Melio give you payment reminders to stay on top of your payment obligations, helping you avoid penalties and late fees.
Melio is excellent for businesses with more than one department or user who may oversee the payment processes. The platform has customizable approval workflows where you can create custom approval chains that outline the approval sequence for your payments. It makes it easier for your departments or users to determine who should approve payments in the correct order to complete the process.
The Benefits of Using Melio Payments for Your Business
The primary purpose of Melio is to simplify accounts payable processes. It provides robust tools enabling users like you to create invoices, schedule payments, and manage vendors in just one simple and easy-to-use platform.
Here are the other advantages of using Melio for your business:
The ability to set up payment schedules helps improve your business’s cash flow management. By maintaining control over the timing of your payments, you can be sure that your bills are paid on time.
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The same feature as above also helps extend payment terms with contractors, vendors, or suppliers. That’s why payment scheduling is beneficial for your business: You can have more time to pay your bills while preserving working capital.

Unlike other platforms or methods of payment, you do not have to worry about paying your dues early. Early payment discounts from vendors may be available, and you can take advantage of them. These discounts can save money on your expenses, which is useful for improving cash flow.
Repetitive tasks are time-consuming. Eliminating them and relying on Melio for invoice creation and payment reminders can free up your employees’ time to focus on other strategic activities that can help drive business growth.
Melio makes invoice management easy. The platform allows you to create and customize invoice templates and include line items. You can also use Melio to specify payment terms, which makes it an excellent solution for your business and customers.
Apart from the benefits mentioned above, Melio Payments can lead to significant cost-saving benefits and improvements in efficiency for your business. For instance, you can save on administrative overhead by automating repetitive tasks.
Processes that may use paper can also be eliminated since Melio promotes the digitization of your accounts payable and receivable procedures. That means you no longer have to deal with paper-based checks, receipts, and invoices, should you choose to do so.
Late payments are a no-no for businesses, especially those wanting to save money. You can preserve your working funds by avoiding late fees and penalties due to missed or delayed payments.
Every business needs good relationships with vendors and customers to thrive. When you have streamlined accounts payable and receivable processes, you can forge stronger working relationships. That’s mainly due to your professionalism, which involves prompt payments and efficient invoicing. These can help improve communication and trust with other parties. It is one of the keys to building long-term partnerships.
Finally, the updated platform allows users to pay using bill-by-ACH bank transfer or card. Vendors are also no longer required to sign up, meaning you can pay them however they want with Melio.
How Melio Payments Works
Just like with any other payment platform, you must first sign up for an account here: https://app.meliopayments.com/register. Signing up is easy and takes only a few minutes. It only asks for your email address and password. You can also use your Google or Intuit account (for QuickBooks users).

After verifying your email address and logging in to your account, the platform will ask you to provide your business information, including whether you are a small business that wants to use the platform to pay vendor invoices or an accounting firm.

Aside from your email address, Melio also requires a phone number for verification and business information like business name, address, and industry. You can schedule a payment once you’re all set.

Before you can begin paying, you will be greeted with an empty dashboard.

One of the first things you must do is go to Settings and then the Payments and Billings section.

Click Payment Methods, where you can manage all your linked accounts and add a new payment method. You can then customize your payment preferences and select your preferred payment method. Your dashboard is also where you can add vendors and customers, create invoices, and schedule and track payments.
Melio supports different payment options, accommodating almost every business need and preference. You can use it to pay merchants or get paid via:
- Bank transfer (ACH
- Debit card
- Credit card
- Check
- Wire transfer
Accounting Software Integration
In the platform settings, you may want to link your accounting software to Melio.

Doing so allows automatic financial data syncing between Melio and the accounting software, QuickBooks, Xero, or others. When you create invoices, they are recorded in the accounting software so you have updated and consistent financial records. The same applies to payments made through Melio, simplifying the process and guaranteeing all payments are documented automatically.
How Much Does Melio Cost?
Melio is free with no subscription cost. Here is an overview of the fees and prices you must be aware of:
- Free standard payments via ACH bank transfer
- $1.50 per check for a paper check
- 1.5% (maximum of $50) for each instant payment made
- $20 per transaction for international payments in US dollars
- 2.9% processing fee for credit and debit card payments
- International payments using Mastercard credit cards will carry a 2.9% fee on top of the $20 fixed fee.
User Experience and Reviews
Melio has a fairly good amount of satisfied and positive testimonials on many review sites:
GetApp: 4.2/5

TrustRadius: 3.9/5

Capterra: 4.2/5

Trustpilot: 4.3/5

All in all, Melio has great reviews, mostly commending its customer service, bill pay with QuickBooks and convenience. The platform is easy to use and understand. Plus, you can talk to Melio’s support team via email, phone, or live chat. You can also speak to a dedicated account manager or read more about Melio through FAQs and the Knowledge Base.
Conclusion
Melio Payments is a comprehensive financial management platform for optimizing and simplifying tasks in managing and processing invoices and payments. It is a secure, user-friendly business solution with an intuitive interface and several useful features. With responsive customer support, multiple payment support, and integration with accounting software, Melio is certainly one of the top platforms for making financial management tasks easier.
Can you transfer a personal credit card to your business?

In the world of business, the lines between personal and business finances can sometimes blur. This is particularly true during the early stages of entrepreneurship. Many business owners rely on credit cards or funds to support their ventures. Unfortunately, this approach poses several challenges, especially relating to increased personal liability and potential tax issues down the line.
While it is true that you can use your personal credit card for business expenses, have you considered transferring personal debt to your business? This post explores the distinctions between personal and business credit and offers practical steps to transfer personal credit to your business effectively.
Personal vs. Business Credit: What are the Differences?
To understand the process better, let us quickly examine the differences between personal and business credit. Here are some facts about personal credit:
- Used for personal expenses like buying a car and home
- Personal liability for any debts incurred
- Connected to the Social Security Number (SSN)
- Reported to consumer credit reporting agencies like Equifax, TransUnion, and Experian
- Credit scores range from 300 to 850
- Subject to consumer protection laws, including the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA)
Meanwhile, here are some things to know about business credit:
- Used for business expenses like purchasing equipment and inventory
- Utilized for managing operational costs and cash flow
- Tied to Employer Identification Number (EIN) or Tax Identification Number (TIN)
- Liability for debts is on the business and not the individual owner
- Reported to business credit bureaus like Dun & Bradstreet, Equifax Business, and Experian Business
- Credit scores range from 0 to 100 (or 0 to 300, depending on the credit reporting bureau)
Payment history and length of that history, credit utilization, and types of credit used are some of the factors that affect both personal and business credit.
Can You Use Your Personal Credit Card for Business Expenses?
Keeping track of expenses can be challenging, so some people opt to use a personal card for both personal and business-related purchases. To address the question above, yes, you can use your personal card for business expenses.
You might choose to do so for several reasons, including the enhanced protection offered by the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act). This legislation provides better safeguards for cardholders by requiring written disclosures and imposing limits on fees and interest rates.
Why Transfer Your Personal Debt Over to Your Business
While you can use your credit card for business expenses, it lacks the same legal protections as business credit. If your company is set up as an LLC or a corporation, you automatically obtain legal protections based on your chosen business structure. However, intertwining your personal and business expenses can diminish or even nullify those protections you would otherwise enjoy.
If that’s not convincing enough, here are additional reasons why transferring personal credit to business is a smart financial move:
- If there are ever any legal or financial issues, minimize your personal financial risk, even as the business owner.
- Transferring personal debt to business credit helps establish your business’s credit profile and history, which is crucial for accessing credit lines and loans.
- Business credit, when used for business expenses, aids in simplifying tax reporting. This activity can also maximize tax deductions, potentially reducing tax liabilities and taxable income.
- Building strong credit for your business shows professionalism and credibility as it is a demonstration of how responsible and stable your business is. These traits are essential to other entities you will likely work with, such as suppliers, partners, lenders, and even your customers.
- Separating business from personal credit allows access to more credit and financing options based on your company’s creditworthiness. That way, you do not have to rely solely on personal credit limits, which are often lower.
Creating a clear distinction between your personal and business credit profiles is significant in defining the company as a separate legal entity. By using business credit accounts, such as business credit cards or lines of credit, when incurring business-related expenses, you begin to build your company’s own credit history. However, just like personal credit, you should always make on-time payments and manage your business credit responsibly to create a positive credit history for your company.
How to Transfer Personal Credit to Business: The Different Methods
One standard method for transferring personal credit to a business is to apply for business credit cards, which should be under the business’s name. Doing so lets you establish your business’s credit history while separating its usage from your credit cards. Other ways to go about it include the following:
- Applying for business lines of credit to access funds for your ongoing expenses
- Applying for business loans from banks or alternative lenders when in need of funding for expansion and other more significant investments
- Establishing trade credit accounts with vendors and suppliers, such as Net 30 vendors, that allow your business to make purchases on credit
- Using alternative financing solutions specific to businesses, including merchant cash advances and invoice factoring
- Exploring rental or lease agreements for vehicles, real estate, or equipment to build a credit profile
It may also be an option to cosign with a personal guarantee, mainly if you first must use personal credit to secure business loans or business credit cards. This method, however, involves personal credit. Nevertheless, it still contributes to building your business’ credit history.
With the choices above, picking the proper method for you may be a little confusing. The best way to do it is to select the option based on your creditworthiness and business requirements. For example, you can consider your short-term and long-term goals, such as whether you want to finance immediate expenses. Perhaps you wish to build credit for the future or invest in growth opportunities. Whatever your goal, you can align it with the best method for your business.
Other factors to consider include:
- Your business’s creditworthiness
- Payment history
- Debt-to-income ratio
- Credit score
- Existing credit accounts, if any
- Type and size of funding you need
- Interest rates and fees
- Repayment terms
The method you choose can impact your credit and liability as an individual, such as if it requires cosigning or a personal guarantee, so consider that as well. It is also helpful to assess the method’s long-term sustainability, especially if it will benefit your business’s financial growth and stability in the long run.
Steps to Take
Regardless of the method you see fit for transferring personal credit to business credit, the entire process involves a few steps, which often include the following:
If you have not done so, you will first have to incorporate a legal business entity. This means picking whether you have a partnership, a Limited Liability Company (LLC), a corporation, or any other type of business structure. You will also have to register it with the local and state government. From here, you can obtain an Employer Identification Number (EIN) from the Internal Revenue Service (IRS).
You will then need to open a business bank account in the name of your business. This account will be used for all your business-related purchases and transactions. That way, there is a clear separation between your personal and business expenses.
The next useful step is to have a business credit card. Make sure that you do comprehensive research by comparing various card options. Don’t just look at offers from banks; explore other products from financial institutions and credit unions. When applying, you must use the legal name of your business and provide its EIN and other relevant information. Once you have a credit card, you should always pay your debt on time whenever you use it for business expenses. This is the key to establishing a positive credit history for your company.

Some businesses may skip this step, but it is helpful in many ways. You need trade credit accounts as you continue to grow as a business. Be sure to foster relationships with trade partners and suppliers that use trade credit terms. You may also request to open a trade credit account under your business and use it for purchases on credit. Once again, you need to pay net 30 invoices promptly, which will show suppliers and vendors your creditworthiness. It also establishes trust, making it easier for you to access larger financing in the future.
You can apply for lines of credit or business loans from online lenders or banks using your business information. At this stage, you will typically be asked to provide financial data, such as a business plan, revenue, and cash flow. Once approved, you can use the lines of credit and loans for operational, investment, and expansion investments. Just like other debts, you should always maintain responsible repayment to help build your business’s credit profile.
At this stage, you can use the balance transfer option with the new business credit card / business line of credit to transfer your debt over. Some banks will also allow you to use “convenience checks” where you can write a check using your business credit card available balance to your personal credit card company to payoff the balance (and avoid a cash advance fee). You can also look into programs like Plastiq and Melio Payments to get cash off your business credit card.
Your work is incomplete, as you must still monitor and manage your business credit. It always helps to review your business credit reports regularly. If you find any errors, dispute them, as they will not fix themselves. You must ensure accuracy in reporting all your credit activities. Don’t forget to maintain a low credit utilization rate while avoiding accumulating excessive debt under the name of your business.
You might also like: Our Review of NAV, a service that boosts, tracks and monitors business credit scores
Using your business credit accounts involves being responsible for you to build a positive credit history for your company. As you keep your credit utilization low, it helps to increase your credit limits. Do so gradually as your credit history improves and your finances stabilize.
Common Pitfalls to Avoid
As the process ensues, you will realize that some difficulties may arise that could add to the challenge. Therefore, it is crucial to be on the lookout for the following pitfalls:
Many businesses fail to separate business and personal expenses, which typically leads to confusion and inaccuracies, particularly in their financial records. If there is no clear distinction between the two, tracking deductible expenses can pose a challenge, resulting in paying more taxes than you should. Always talk to a tax qualified professional when considering getting credit and moving debt from person to business.
Another issue is relying on personal credit when making business purchases. Although this is the more convenient option for some people, it hinders their businesses’ ability to build a strong credit profile.
One more problem is operating as a sole proprietorship without forming a legal business entity. Unfortunately, this approach exposes the owner to personal liability, especially given the rising business debts and obligations.
Not having a business bank account is another issue to address as you progress with the transfer. That way, you avoid complicating the accounting procedures and tax reporting, making it easier to track income and expenses.
Legal and Financial Implications to Consider
While there are benefits to transferring personal to business credit, it is vital to understand the potential legal and financial implications of the activity for both the business and the owner. These include the following:
You can get legal liability protection as a business owner when you move your personal credit to business credit rather than having it all in one account. However, you must operate as a single entity, such as an LLC, to shield your personal assets from possible debts and lawsuits.
Some lenders require a personal guarantee, particularly if you have a new business. Typically, this means you do not have an extensive credit history. With a personal guarantee, you should know that you, as the business owner, will be held liable for any financial obligations. That includes if your business defaults on credit payments.
While a personal credit to business credit transfer establishes a separate credit profile and history for your company, it can also result in negative credit activity. Late payments and other mistakes can adversely affect your business’s creditworthiness. You must continuously build and protect your credit profile so that you do not have to worry about accessing financing in the long run.

The transfer requires careful documentation and recordkeeping. Otherwise, you could risk complying with tax laws and missing proper business deductions.
Compliance with the rules and requirements is important when using business credit. It mitigates potential issues and ensures legal adherence, so be sure to be mindful of your business’s legal structure and registration. Your business must have the appropriate licenses and permits to operate legally. Talk to a representative or local authorities if you require more information.
Finally, it is valuable to understand the reporting requirements of business credit bureaus, such as Experian Business and Dun & Bradstreet. You should always have your business credit activity report accurately, including your timely payments and credit utilization, for a favorable credit profile and history.
Conclusion
Transferring your personal credit to business credit is a smart move that can yield significant benefits. The biggest benefit is the potential to improve your personal credit utilization, which can really boost your personal credit score a lot. With a distinct separation between business and personal finances, you can protect your personal assets while aiming to access financing options and build a good credit profile for your company. Take the first step toward building your business credit profile by signing up for free business credit training today!
FAQ
Why should I transfer my personal credit to my business?
It can boost your personal credit score by lowering your utilization. Plus establishing a separate credit profile for yourself and your business can give your business access to more financing options while protecting your personal assets against potential company-related debts and obligations.
How do I transfer personal credit to my business?
You can apply for business credit cards, open a trade credit account with a supplier, or apply for a business loan. Then use a balance transfer or convenience checks.
Why should you not mix personal and business credit?
It is often difficult to separate expenses, making it difficult to track expenses. This can also be a problem when reporting business credit activities. Not mixing personal and business expenses on your personal credit profile can also help with asset protection.
How do I ensure compliance with legal and regulatory requirements when using business credit?
It helps to be knowledgeable about the Truth in Lending Act and Fair Credit Reporting Act, as well as other regulations that may be specific to your business and industry. That way, compliance is much easier as you continue to grow your company. You should also spend the time to speak to an attorney and a tax qualified professional, like a Certified Public Accountant (CPA).
Office Garner Review – NET 30 Vendor

Office Garner is a small business that sells office materials and supplies under Net 30 terms. In other words, it offers a ‘buy now, pay later’ plan with the requirement of paying the owed amount by 30 days after purchase.
Before delving deeper into Office Garner, let’s first clarify what a Net 30 vendor is—precisely what Office Garner represents—and whether it aligns with your needs.
What is a Net 30 Vendor, and Who Needs It?
A Net 30 vendor can be defined as a service provider or supplier that sells goods or services with payment terms in which the invoice is due within 30 days of purchase. For a simpler description, purchasing from a Net 30 vendor means the invoice must be fully paid within 30 days.
Transacting with a Net 30 vendor can be quite beneficial for your business, no matter its size and industry. For one, the payment arrangement gives small business owners, especially startups, some flexibility when it comes to managing their expenses and cash flow. It also benefits freelancers and independent contractors, particularly those who require equipment, tools, or supplies for their projects.
Net 30 is also useful for nonprofit organizations, which typically operate on tight budgets. With the help of a Net 30 vendor, a nonprofit can procure goods or services without straining its finances.
Payment arrangements are quite common in the business-to-business environment (B2B). Companies can obtain the needed supplies even when they do not have the money to pay them. As long as you make timely payments, you not only create a good relationship with the vendor but also build and strengthen your business’s credit profile.
An Overview of Office Garner
Now that we have discussed what a Net 30 vendor is, it’s time to talk about Office Garner, which operates under the mentioned payment arrangement. Office Garner claims to offer top-quality office supplies, including calculators, mail supplies, workspace organizers, and more.

Office Garner has apparel for men and women, business cards for branding improvement, and houseware like blankets, pillows, and towels. You can also find drones, headphones and their accessories, smartwatches, and cell phone cases.
Office Garner promises a diversified selection of products you can purchase on the company’s website. Shipping is guaranteed to be quick, although results may vary depending on the location and other factors. Nevertheless, the company has a network of 52 warehouses, which is why it is easy for Office Garner to distribute products much quicker and more efficiently.
Details about Office Garner as a Net 30 Vendor
Applying for an Office Garner Net 30 account is fairly straightforward. Some of the required information you must provide includes the following:
- Your business’s legal name and complete address
- Phone number
- Date the business was established
- Your name if you are the owner
- The type of organization
You may also have to provide your business’s website if you have any. Office Garner asks that you provide your Employer Identification Number (EIN), a common requirement with almost every Net 30 supplier or vendor. The EIN is a unique nine-digit number assigned to you by the Internal Revenue Service (IRS) for tax identification purposes.
It is optional, but we recommend that you give your Data Universal Numbering System (DUNS) to Office Garner. This unique nine-digit identifier from Dun & Bradstreet is mainly utilized for business credit reporting and risk assessment. Many lenders and suppliers, such as Office Garner, request that you provide your DUNS Number to evaluate your reliability and creditworthiness as a company.
Like DUNS, you can also provide your CreditSafe number so that your timely payments can be reported to the business credit reporting agency called CreditSafe Group. This organization provides business credit reports of companies across the globe, helping lenders or other companies assess the creditworthiness of potential business partners or customers.
Pros of Office Garner
There are a number of benefits that you can enjoy when you buy your office materials, supplies, or equipment from Office Garner. Here are reasons why you may want to pick this Net 30 vendor:
The requirements are pretty simple, including EIN and the fact that you have been operating for at least 30 days.
Your Net 30 account can receive a maximum of $1,500. This means you can access credit of up to $1,500 from Office Garner.

Under the Net 30 payment term, you have 30 days from the date of purchase to pay the invoice. For example, you purchased $300 in office supplies on October 1st. You should pay the amount owed or the invoice by October 31st; otherwise, you will be charged interest and penalties.
Office Garner does not require a personal credit check. That means the company will not assess your credit score or history when extending credit terms. This is beneficial for startups and businesses, as the owner’s credit history may not accurately represent the business’s creditworthiness or financial stability.
This Net 30 vendor does not need a personal guarantee from you, the person making the purchase. A personal guarantee is a promise that you will pay back the debt in case your firm cannot fulfill the obligation.
Perhaps the biggest benefit here, especially if you are a small business trying to build your credit profile, is that Office Garner reports consistently to various credit agencies every month. These agencies are Equifax Business, CreditSafe, Ansonia, and the National Association of Credit Management (NACM).
Cons of Office Garner
Here are a few reasons why Office Garner may not be for you:
Membership fee is $79 yearly. It’s not too expensive, but other Net 30 accounts are much cheaper.
Startups that have been operating for less than 30 days are not qualified.
Office Garner expects your business to have a clean or positive credit history. The credit report should not include derogatory items or negative marks, including late payments, bankruptcies, and defaults.
There is a minimum purchase amount, which is $45.
You can only use a portion of your credit limit for purchases. Therefore, even if you get approved for the highest credit of $1,500, you can only spend $600.
While your spendable credit may be low, the good news is that the credit amount you can use for purchases can increase after two orders. However, it is still essential to make sure that you always pay in full on time.
Is Office Garner for You?
Choosing Office Garner as your Net 30 vendor for office supplies and materials involves careful consideration. Make sure to identify your business needs. Are there products from this vendor that your business will benefit from? How frequently should you replenish those items?
Office Garner promises to provide quality goods at attractive prices. Before you pick this vendor, make sure that you compare item prices and quality from other similar companies. Also, read about what other customers say, mainly regarding delivery times. The last thing you want is a company that not only delivers late but is also costly.
If you believe that Office Garner is a suitable Net 30 vendor, you can apply for an Office Garner Net 30 account by going to https://officegarner.com/about-net-30/ Click on the “Apply for NET 30” button to start.

Building your credit profile is essential, which is why a Net 30 vendor’s credit reporting practices should be one of the factors you must consider. Office Garner reports payment history to business credit bureaus, including Equifax Business and CreditSafe. Fully paying the invoice on time can help build your business profile quicker than you expect. Be consistent with the payments and strengthen your profile by working with other Net 30 vendors that report to the credit bureaus.
If you are looking to fast-track building your business credit history, sign up and become a member of Business Credit Workshop. Here, you can access an easy and quick action plan to build or rebuild your business credit profile successfully.
How Long Does It Take to Build Business Credit? Fast Guide

Building business credit is essential. After all, it directly influences a business’s ability to borrow money or obtain products or services on credit. Regardless of the business size, companies must actively build and maintain good business credit to gain access to financing. Additionally, it aids in achieving favorable terms with suppliers, thereby establishing creditworthiness in the market or industry where they operate.
The question is: How long does it take to build business credit? Some say it takes about a year, while others may tell you it is quicker than that. Although the answers vary depending on who you ask, one thing is for sure: You must start building business credit as early as possible.
- Why Build Business Credit
- Rapid Business Credit Boost Technique (as little as 30 days)
- Using NET 30 Vendors
- NAV Prime Card
- FAQ
Why Build Business Credit
A survey in 2022 found that approval rates for business financing were extremely low during the pandemic. Even before that, almost 40% of businesses applying for financing did not get approved in 2020, according to the Federal Reserve statistics. Unfortunately, things did not get better, as it has become even more challenging for small businesses to access venture capital funding beginning in 2023. That’s why it is more important than ever to build strong business credit.

Strong business credit is achievable. Start with sufficient credit history; otherwise, poor or lacking history can become a major roadblock once you seek financing—even if it’s not a huge amount. With good business credit, your chances of getting approved for financing increase. That’s because it tells the lender that you have the ability and discipline to pay the amount you owe on time.
In general, many lenders look for a credit score of at least 500 for a business loan. However, this requirement increases depending on the institution you wish to work with. For instance, if you are applying for a business loan through a bank, you may need a credit score of about 700.
Here are the top motivating reasons to build your business credit today:
- Capital Access: Potential investors like angel investors and venture capitalists are more likely to invest in your company if they see it has good credit. A good rating also opens your business to other financing options, including loans from traditional banks, alternative online lenders, and lines of credit.
- Separation of Personal and Business Finances: This benefit is crucial for protecting personal assets if your business encounters legal issues or financial challenges. That’s why one of the very first steps you should take is to structure your business as a separate legal entity, like an LLC. That way, creditors cannot go after your personal assets, as they are not a part of your business.
- Business Growth Opportunities: Because you have access to better credit terms and financing when you need it, you have the chance to seize options and openings for your business. Having a solid business credit profile allows financial flexibility, which is valuable in capitalizing on growth and expansion opportunities.
- Cash Flow Management: Another benefit of good credit rating is that it improves cash flow, allowing you to have a fallback during economic downturns, for instance. You can get an influx of cash when needed to meet growing or continuous customer demand.
- Negotiation Power: Gain leverage in contract and pricing negotiations with a good business credit standing. It’s helpful in industries such as professional services, where contracts are generally negotiated on an ongoing basis.
With the list above, you are probably ready to build your business credit. But how long will it take? And more importantly, how long does it take to build good business credit?
So, here’s our short answer to the question: It takes as few as 30 days to build business credit. However, building a solid profile with a positive and reliable credit history that reflects your business’s creditworthiness is a different kind of ballgame.
In order to have a solid profile, you must demonstrate responsible financial behavior, which includes making timely payments on loans and lines of credit. You must also never overspend, making sure to maintain a reasonable credit utilization level or the ratio of your business credit balances to your credit limits. In general, you should keep the credit utilization level below 30%.
Additionally, as a business, you most likely have several credit accounts. How you manage your various accounts can impact your business credit. Therefore, you should establish these credit accounts and use credit responsibly, which often involves monitoring the business credit report regularly. If there are any issues, they should be addressed immediately to maintain a solid credit profile over time.
Rapid Business Credit Boost in As Little As 30 Days
If you go to Google and search for “how long it takes to build business credit,” you will find a variety of answers, along with tips and how-to guides. Steps include formalizing your business and its structure, getting business insurance (if needed), licenses, and an Employer Identification Number (EIN), which you can use to apply for credit. You also need to open credit accounts that regularly report to business credit bureaus:
- Dun & Bradstreet (D&B)
- Experian Business
- Equifax Business
- Bureau Credit Reports, Inc. (BCR)
Perhaps the most important one is a Dun & Bradstreet number, commonly referred to as the DUNs number. This unique nine-digit number is generally used to identify a business. Typically, creditors ask for your DUNS number and EIN before agreeing to issue any business credit.
A checking account is also essential to building your credit profile. It’s important to maintain an adequate balance with no overdrafts and bounced checks to show creditors you are financially responsible. You should also network with banks and other professionals in the finance industry. This article provides a more detailed guide on how to build your credit.
Now, onto the more exciting part: building your business credit quickly. Here, I present two ways to fast-track building a solid foundation for your business credit.
First, register for relevant Net 30 accounts. These accounts let you purchase goods on credit, which you must pay back within 30 days. Suppliers demand that you have a separate Net 30 account. That’s why businesses usually only register with suppliers they use often. The significant requirement to bear in mind is to be consistent in paying off your Net 30 accounts on time. With this simple strategy, you don’t just accelerate your business credit building but also create a strong start for it.
Here’s how 30-day net vendors help with business credit building:
When you work with vendors who offer Net 30 terms, you establish trade references. These vendors typically report your payment history to Dun & Bradstreet, which helps you build a positive credit history for your company.
Let’s say you have business credit cards, loans, or other credit accounts on top of the trade references mentioned above. This means you have diversified your credit profile, which many creditors and lenders view more favorably. As a result, your business credit score has a bigger chance of seeing improvement within 30 days.

As discussed in this article, you need to make timely payments with vendors, particularly those with Net 30 terms. Doing so demonstrates your company’s ability and reliability when it comes to managing credit. Pay invoices without delays consistently to strengthen your creditworthiness, and you will see a positive impact on your credit score in no time.
The next step is to expand your credit access by ensuring you have positive trade references with Net 30 vendors. This simple activity allows you to enhance your business’ creditworthiness, further increasing your access to credit and financing options over time.
Lastly, you need to build good relationships with vendors, starting with responsibly paying invoices on time and in full. That way, you get favorable terms and discounts that could benefit your business in the future, including contributing to your overall creditworthiness.
Utilizing 30-day net vendors is an effective strategy that could lead to a more solid business credit profile and establish a strong foundation for your company’s financial health and future.
Apart from 30-day net vendors, you can gain a quicker and bigger advantage when you have business credit cards. You have plenty of options here, but a top recommendation is a Nav Prime card. If you have doubts about whether this credit card is right for your business, this article can help you decide.
So, what exactly is the Nav Prime Card? It’s a charge card that costs $49.99 monthly. Although expensive, this card lets you manage your business credit, giving you access to reports each month. Unlike other credit cards, Nav Prime does not require an annual fee, personal guarantee, or security deposit. You can even link it to your business checking account, where you can add multiple cards and accounts with no extra charge.
With a Nav Prime card, you can build your business credit through the following:
Nav Prime issuers will generally report payment activity to business credit bureaus. That’s why it is significant that you make timely payments on the card, which is the key to establishing a positive payment history for your company. Paying on time and in full can benefit your business credit over time.
You are free to use your Prime card as needed. However, since the goal is to gain a positive impact on your credit history, it is advisable to keep your balances low. Consider your credit limit when determining the credit utilization ratio, which tells lenders, investors, and financial institutions that you can manage your credit. It also helps improve your credit score in the long run. Maintain a good credit utilization ratio for 30 to 90 days to build a strong profile.
The Nav Prime card aids in diversifying your business credit profile, which creditors and lenders always consider before approving financing. Having a diverse credit mix, which includes your Nav Prime card, other credit cards, trade lines, and loans, can help build your business credit within 30 days.
The next step is to aim for a credit limit increase. You need to demonstrate that you use your credit responsibly to get approved for an increase. As it improves your creditworthiness as a business, you may then become eligible for a card credit limit increase. The higher your credit limit, the better your credit utilization ratio. It then gives you more purchasing power, which is certainly beneficial for your business.
Nav Prime cards come with expense trackers, allowing you to monitor and manage your business spending. Use these tools for budgeting, controlling business finances, and financial planning.
Using the Nav Card, you can manage your business’ credit profile correctly and responsibly. Additionally, it enables access to business credit reports while gaining new trade-ins, which are vital to building positive business credit.
Building business credit is vital for every entrepreneur, operator, and owner. It establishes your business’ financial stability while allowing you access to financing and opening doors for long-term growth. With the tips above, you can build your business credit within 30 days.
Let us help you accelerate your business credit efficiently when you sign up for free business credit training today.
FAQ:
How long does it take to build business credit with net 30?
Using a 30-day net vendors report to Dun & Bradstreet can help build your business credit within 30-60 days. The more consistently you make purchases and pay invoices on time, the quicker you achieve a solid profile.
How long does it take for an LLC to get a credit score?
Engaging in credit-related activities, such as opening business credit cards and obtaining trade credit with your preferred suppliers, can help build a credit history quickly, often within 30 to 90 days.
How long does it take to build business credit to buy a car?
If you have proven your business’ creditworthiness by being consistent and responsible with your credit use, you can buy a car within 90 days or less.
What is the fastest way to build credit for an LLC?
Establish your business credit accounts, get a business credit card, pay on time, and work with vendors and suppliers who regularly report to credit bureaus to build credit fast.
Boosting up your business credit profiles takes a little bit of work, but it is very much worth it. Spend the time to create a strong foundation to take care of you and your business in the future.
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