Start Building Business Credit with These 3 Vendors

Share This Post

Share on facebook
Share on linkedin
Share on twitter
Share on email

When starting to build business credit, it can be a challenge to find not only vendors that will approve your company for credit terms, but who will also report your purchases to your company’s credit reports. Most of the major retailers that may come to mind when you’re starting out (like Home Depot®, Lowe’s ®, Staples®, etc.) all offer business credit cards, but are underwritten by banks with strict underwriting criteria. So you may ask “Where do i start?”

You’ll need to start small. The 3 vendors we recommend all of our clients get accounts with are some basic Net 30 accounts, and the main goal with setting up these accounts is to generate an 80 Paydex™ Score for your company with Dun & Bradstreet® (which requires a minimum of 3 tradelines on the report).

Before setting accounts up with any of these vendors, you’ll want to make sure your company has the following items in place:

  • Corporation/LLC filed in the state that the business address is located in.
  • EIN (Federal Tax ID)
  • DUNS Number (make sure your company name and address are current)

Uline

Uline is and has been one of the best vendors to start building business credit with for a long time. The thing that makes Uline great is that, in addition to reporting your purchases to Dun & Bradstreet®, they will also report to your company’s Experian® Business credit report, and if your company isn’t listed in Experian’s system yet, your purchase with Uline will generate a credit file with them.

On the surface, they may not seem like they carry anything that your company will be able to use, but a quick browse through their products section will show you that they carry everyday products like clean supplies and bathroom tissue. Why would you not get products you already use in your everyday life anyway AND get that purchase to report to your business credit reports?

Account setup instructions:

  1. Click the “Apply Now” link below.
  2. Input your business email in the “New Customers” box.
  3. Make sure the “Business/Company” option is selected in the “account type” section.
  4. Fill in the rest of the form with your company’s information.
    Note: Your business name and billing address MUST match what’s listed on you Secretary of State file and business credit reports for your purchases to report.
  5. After submitting your information, Uline will send you a confirmation email to complete the account setup.
  6. Once the account setup is complete, you will have “Bill me (net 30 account)” as a checkout option to place your orders with.
  7. Place an order of at least $50 before taxes and shipping and select the “Bill me (net 30 account)” option at checkout.
  8. Wait until 7-10 days prior to the due date on the invoice to pay it off.

Quill

Quill is another great company to set up an account with in the first stages of building business credit as they are easy to establish credit terms with and will report to your company’s Dun & Bradstreet® report. Making a purchase with them is easy since, being a Staples®-owned company, they carry anything you can by in an actual Staples® store.

Account setup instructions:

  1. Click the “Apply Now” link below.
  2. Go to the “Sign In” link at the top of the page and select “Create an Account”.
  3. Enter your email address, setup a password, and enter a few pieces of information about your business.
  4. Go to the account settings page and input your company’s billing address.
    Note: Your business name and billing address MUST match what’s listed on you Secretary of State file and business credit reports for your purchases to report.
  5. Once the account setup is complete, you will have “Invoice My Account” as a checkout option to place your orders with.
  6. Place an order of at least $50 before taxes and shipping and select the “Bill me (net 30 account)” option at checkout.
  7. Wait until 7-10 days prior to the due date on the invoice to pay it off.

Grainger

Grainger is a hardware store with brick-and-mortar locations in all 50 states. As far as business credit building goes, there isn’t anything in particular that makes this account stand out; they report to Dun & Bradstreet just like the other 2 vendors on this page. The products they offer aren’t only limited to hardware and tools. Like the other 2, they also offer household products and products to fit a wide range of industries.

Account setup instructions:

  1. Click the “Apply Now” link below.
  2. Go to the “Sign In” link at the top of the page and select “Create an Account”.
  3. Enter your email address, setup a password, and enter a few pieces of information about your business.
  4. Go to the account settings page and input your company’s billing address.
    Note: Your business name and billing address MUST match what’s listed on you Secretary of State file and business credit reports for your purchases to report.
  5. Once the account setup is complete, you will have “Invoice My Account” as a checkout option to place your orders with.
  6. Place an order of at least $50 before taxes and shipping and select the “Bill me (net 30 account)” option at checkout.
  7. Wait until 7-10 days prior to the due date on the invoice to pay it off.
0 0 vote
Article Rating

Subscribe To Our Newsletter

Get updates and learn from the best

guest
0 Comments
Inline Feedbacks
View all comments

Related Content

How Much Is Good Credit Worth To Your Company?

Ready To Get Started?

expert-advice
0
Would love your thoughts, please comment.x
()
x
Coronavirus (COVID-19) Business Continuity Plan

TrueBuild stands together as an 18 year old program and we pride ourselves in teamwork and collaboration in our corporate offices, but as a business born on the internet and entirely web-based, including our phone systems, we also have contingency plans for everyone to be able to work from their home and rest-assured you’ll still receive the same quality and levels of service, no matter what the future may bring during trying times. Your business is safe, please keep your family and friends socially distanced as we all learn about this disease.