Vendor Credit - Business Credit 2020

Which vendors build business credit? In this video discover how to get vendor credit from the top five vendors that report to the business credit reporting agencies.Show more

For business owners, access to vendor credit lines are extremely beneficial. It helps conserve cash flow, build business credit and limit your personal liability.

Vendor credit is when a company extends a line of credit to another business. Typically, vendors & suppliers offer “Net 30” day terms. 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.

For our Step-by-Step Business Credit Building system go to https://businesscreditbuilders.org/

Vendor credit is when a vendor, supplier, retailer or business extends a line of credit to your business on Net 30-day terms. This repayment term will allow you to purchase the vendor’s product or service up to your credit limit with 30 days to pay the invoice in full.

When you get vendor credit you have the ability to purchase products and services using your approved credit line and defer payment for 30 days or more depending on the terms. It’s always best to pay better than terms since it will reflect on your business credit reports.

Vendors typically offer discounts for early repayment along with many other perks. Think of vendor credit lines as stepping stones to greater funding opportunities for your business.

This is an ideal funding solution that startups and existing businesses can take advantage of without putting their personal credit at risk.

Who offers vendor credit?

Many office supply companies, printing companies, accountants, creative agencies, restaurants, construction companies, manufacturers, wholesalers and retailers offer vendor lines of credit. To find out the top five vendors be sure to watch this video.

Did you know over 500,000 vendors and suppliers in the county offer net 30 terms or greater but less than 10,000 actually report to the business credit reporting agencies? So, before applying for vendor credit accounts be sure to identify whether they report or not.

For more details on vendor credit and where to apply be sure to check out the following resources below.

https://youtu.be/ppVH17kfzsA
https://businesscreditbuilders.org/business-credit-building-system/
https://businesscreditblogger.com/2019/01/29/easy-approval-net-30-accounts/
https://businessfundingengine.com/