• HOME
    • Business Credit
  • About Marco Carbajo
  • Contact Us
  • Archives
  • Resources
    • Business Calculators
      • Business Credit Card Payoff Calculator
      • Business Loan Calculator
      • Business Lease Calculator
  • Business Credit Cards
  • Afffiliate Program
  • Member Login

Business Credit

Building Business Credit for Small Business

  • Business Credit
    • Consumer Credit
  • Funding
  • Business Credit Programs
  • Business Credit Building System
  • Business Funding Engine
  • Real Estate Funding
You are here: Home / Archives for trade credit

Net 30 Vendor Who Reports to Multiple Business Credit Bureaus

June 29, 2021 By Marco Carbajo

Net 30 Vendor

In today’s post we’re going to share with you a net 30 vendor who reports to multiple business credit reporting agencies. Whether you are just starting a business or an existing business, this is an easy way for you to get business credit without a personal credit check. net 30 vendor

First things first, if you’re new to the concept of business credit and why vendors play an important role let’s go over the basics.

What is a net 30 vendor?

A net 30 vendor (net 30 account) is a company who extends a credit line to another business with repayment terms of 30 days. (0% interest on NET30)

This repayment term allows you to purchase a vendor’s products or services using your approved credit line with the balance due in 30 days. With net 30 terms you conserve cash for a longer period of time.
Click to continue …

Filed Under: Business Credit Tagged With: easy approval net 30 account, net 30, net 30 account, net 30 terms, net 30 vendor, trade credit, vendor credit

The #1 Source of Small Business Lending in America (And How to Obtain It)

November 22, 2010 By Marco Carbajo

Trade Lines of Credit

 

What is the largest source of capital from business to business and remains the #1 alternative to personal and small business loans? trade lines of credit

Here’s another hint.

The SBA reports it as the single largest source of small business lending in America today.

Still not sure what it is?

It’s called trade lines of credit also known as ‘vendor credit’ or ‘supplier credit’.

Did you know that trade credit is the second largest source of capital for Wal-Mart? It’s used trade credit as its largest source of capital than even its bank borrowings!
Click to continue …

Filed Under: Business Credit Tagged With: trade credit, trade credit lines, trade lines of credit

Are You Getting Instant Business Credit?

November 17, 2009 By Marco Carbajo

DollarIf you’re at the beginning stage of applying for business credit for your company than you have probably seen the numerous articles, books, and posts explaining the importance of first starting with vendor credit also known as trade credit.

 

However, one of the biggest mistakes made by small business owners during this stage is applying for the wrong vendor accounts that grant instant business credit.

 

While some may have a tendency to believe that the more the merrier is a sound strategy I tend to totally disagree. The reason is simply getting approved for vendor credit is one thing but what really matters is three critical factors that seem to never get mentioned which are:

 

Reporting

Frequency

High Credit

 

Reporting

There are over 500,000 vendors extending credit to businesses, but less than 6,000 of them report to the business credit bureaus! So part of any sound business credit building strategy should include careful selection of vendors that report to the business credit bureaus. It’s also important to note which business credit bureau they report to.

 

Frequency

In addition you will need to select vendors that not only report to the business credit bureaus but also report on a monthly basis.
Why is reporting on a monthly basis so important?

The reason is there are vendors who do report your payment history but only on a quarterly or even yearly basis. Time is of the essence so if your payment experience is not reporting until months later this can drastically impact the speed in which you plan to build a strong business credit file.

An example of an instant business credit vendor that reports on a monthly basis is a company like Quill.

Quill sells office supplies, cleaning supplies, packing and shipping supplies, school supplies, printing supplies, and more. From filing and storage to hand held computers, Quill has a wide range of discounted top name brand products.

Quill offers a net 30 account and reports to Dun and Bradstreet. Best of all they report your payment history every 30 days. For small orders you can get approved with a listing on the 411 directories and have a working website. New businesses can start out with smaller limits that will increase when you pay on time every month.

 

High Credit

Unfortunately there are vendors who report the balance owing as your high credit limit on your business credit file and not the true credit limit your business has been approved for.

For example, let’s say you’re approved for a $2,000 credit line with a vendor and you purchase an order of $50.

The incorrect reporting by this vendor shows:

High Credit ($) 50

Now Owes ($) 50

 

The correct reporting by the vendor should reflect:

High Credit ($) 2,000

Now Owes ($) 50

 

It’s always best to select vendors that report the true high credit limit that your business has been approved for and not just the balance owing.

 

This factor alone can impact the credit limit recommendation suggested for your business which is provided by the business credit bureaus in your profile report.

 

While you can obtain instant business credit for your business the process of building a strong business credit profile and score does take careful planning and a sound strategy. By revealing these three critical factors I hope to make the process easier and more effective for you.

 

As long as you select vendors that report, select vendors that report timely and select vendors that report true high credit limits than you are well on your way to business credit success!

 

To Your Success!

Marco Carbajo

About the Author

sp_image-435950341-1242740704.pjpeg

Marco Carbajo is a business credit specialist, author, speaker, and founder of the Business Credit Insider’s Circle. Want to learn more about how to build business credit and obtain unlimited financing for your business? Claim Marco’s popular FREE  “Eight Steps To Ultimate Business Credit Without A Personal Guarantee Audio Seminar“($597 Value), available by simply submitting your email below=>

Filed Under: Business Credit Tagged With: business credit, get business credit, instant business credit, trade credit, vendor credit

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Subscribe to our Newsletter

Join Over 52,000 Business Owners

business credit builder system

business funding engine

>
Build Your Dreams With Net 30 Terms
What's Your Credit Score?

Bank Line of Credit

Get Peace of Mind

CATEGORIES

  • Business Credit
  • Business Credit Videos
  • Consumer Credit
  • Funding
  • Help for Small Business

RECENT POSTS

  • Best Secured Business Credit Cards – Build Business Credit Easily
  • How to Get a Virtual Business Address and Phone Number

CONNECT WITH US

  • Facebook
  • LinkedIn
  • RSS
  • Twitter
  • YouTube

Copyright © 2023 Business Credit Blogger.com | All Rights Reserved | TOC | Privacy Policy | Disclosure | Sitemap | Contact Us