Apply With Vendors That Report To Credit Reporting Agencies

Beating this drum over and over is worth my time, and yours, because it is extremely important.

PERSONAL CREDIT is NOT the same as BUSINESS CREDIT and here is another way how that is.

PERSONAL CREDIT is set on automatic, which is to say that just about every type of credit that you PERSONALLY get approved for, is reported to your PERSONAL credit report, which helps to build your PERSONAL credit profile.

BUSINESS CREDIT is NOT set on automatic, and as a Small Business Owner (SBO), you have to be selective as to which company you are going to do business with, that is of course, if your intent is to build a BUSINESS CREDIT PROFILE.

There are very few business creditors that report to the Credit Reporting Agencies (CRAs) and to make matters harder, these business creditors do not make themselves publicly known, therefore this information is not easy to find.

Now, if I could simply list all of the business vendors and business suppliers that report to the business CRAs, I would, unfortunately, business creditors are constantly changing their credit terms and policies based on market conditions, and also, a business creditor’s internal ebb and flow often changes with daily, weekly, and monthly business operations.

However, to give you some guidance, if you are just starting to Build Business Credit, I would suggest for you to seek out vendors that offer Tier 1 Business Vendor Tradelines, which are vendors who extend basic internal business credit.

Tier 1 Vendors usually do not require that you have an established Business Credit Profile or a personal credit history to get approved, and though approval is not guaranteed, the chances for approval are better than most, and you may also be happy to discover that there are no personal guarantees involved.

Business Credit at the Tier 1 Level offers you, as the SBO, the opportunity to purchase office supplies, furniture, inventory, and other types of equipment for you to operate your business.

Though Tier 1 Vendors are open to extending store credit to your business, there may be a requirement for you to provide some type of trade reference(s) for the Tier 1 Vendor to extend a line of credit.

To help you get started, try Opening a Business Account with these three common Tier 1 Vendors and Start Building Your Business Credit:

Quill

Offers a variety of office supplies, furniture, electronics
Apply for a Quill Credit Line
Minimum purchase of $100 required to submit Net-30 Application
Application automatically reviewed for a credit line after first purchase
Use the ‘Invoice My Account’ Payment Option
Usually One Day Approval or Denial
No Personal Credit Check
Reports to Dun and Bradstreet

ULINE

Offers business supplies, shipping supplies, warehouse equipment, office furniture, safety products
Request a catalog to receive a Customer Number
Request Net-30 Billing Option
No Personal Credit Check
Reports to Experian Commercial; Dun and Bradstreet