Website design By BotEap.comA supplier line of credit is when a company (supplier) extends a line of credit to your company in terms of net “15, 30, 60 or 90” days. This means you can buy your products or services up to a maximum dollar amount and you have 15, 30, 60 or 90 days to pay the bill in full. So, if you’re set up in Net 30 terms and would buy $300 worth of goods today, then that $300 is due within the next 30 days.

Website design By BotEap.comYou can get products and services for your business needs and defer payment for those for 30 days, making cash flow easier. And some vendors will approve your business for Net 30 payment terms by verifying as little as an EIN number and a 411 listing.

Website design By BotEap.comAlways apply first without using your SSN. Some vendors will request it and some will even tell you over the phone that they need to have it, but send it in without it first. Many don’t even know that they can get approved without it.

Website design By BotEap.comMost credit issuers will approve you without your SSN if your credit EIN is strong enough. If your EIN credit is not good enough, they may turn you down and then ask for your SSN. No matter what ANY credit representative tells you, credit CAN be obtained based solely on your EIN.

Website design By BotEap.comYou must start a business credit profile and qualify with initial vendors. Initial providers are those that will give you initial credit even if you have no credit, score, or business lines now. Most stores like Staples will NOT give you initial startup credit, so DO NOT try to apply for it.

Website design By BotEap.comMost stores will NOT approve a business owner for business credit unless the owner has an established credit profile and score, just like in the consumer world. Vendor accounts must first be used to establish a profile and score, and then store credit can be earned. It typically takes only 90 days or less to establish a score and profile with business lines.

Website design By BotEap.comGet approved for Visa, MasterCard, Discover and AMEX cards with limits of $5k-10k once you have established 10 payment experiences. Dell is known for issuing higher limits, so apply only after getting approved for other renewable store cards. Limits equal to the highest store credit card on the report.

Website design By BotEap.comContinue to use and grow your credit to gain access to even more business cash credit for your business.

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