So you want to build business credit but you don’t know where to start you don’t what vendors to choose or what. Well I got you. I’m going to break down the top 3 vendor accounts that you need to start to build business credit.
Starter Vendor #1: Uline Shipping Supplies
Find them online at uline.com. They sell shipping, packing and industrial supplies. They report to Dun & Bradstreet and Experian. You MUST have a D-U-N-S number and an EIN before starting with them. They will ask for your business bank information. Your business address must be uniform everywhere. Your first few orders might need to be prepaid so your company can get approval for Net 30 terms.
You need the following to qualify:
● Entity in good standing with Secretary of State
● EIN number with IRS
● Business address (matching everywhere)
● D-U-N-S number
● Business License (if applicable)
● Business Bank account
● Business Phone Number Listed in 411
Starter Vendor #2: Marathon
Marathon Petroleum Company provides transportation fuels, asphalt and specialty products throughout the United States. Their comprehensive product line supports commercial, industrial, and retail operations. This card reports to Dun & Bradstreet, Experian, and Equifax. Before applying for multiple accounts with WEX Fleet cards, make sure to have enough time in between applying so they don’t red-flag your account for fraud.
To qualify, you need:
● Entity in good standing with Secretary of State
● EIN number with IRS
● Business address- matching everywhere
● D-U-N-S number
● Business License (if applicable)
● Business bank account
● Business phone number listed on 411
Your SSN is required for informational purposes. If concerned they will pull your personal credit talk to their credit department before applying. You can give a $500 deposit instead of using a personal guarantee, if in business less than a year.
Apply online. Terms are Net 15. Get it here: www.marathonbrand.com.
Starter Vendor #3: Grainger Industrial Supply
Find them online at: www.grainger.com. They sell hardware, power tools, pumps and more. They also do fleet maintenance. They report to Dun & Bradstreet.
To qualify, you need the following:
● A business license (if applicable)
● An EIN number
● A business address matching everywhere
● A business bank account
● A DUNS number from Dun & Bradstreet Business entity
in good standing with the applicable Secretary of State
If your business doesn’t have an established credit, they will require additional documents like accounts payable, income statement, balance sheets, and the like. Apply online or over the phone. So now that you know the top 3 vendors to help you start building credit for your business. There are a few steps you need to take before these vendors will even give you credit.
With that being said I’ve created a FREE 5 part Video Series that teaches you how to build business credit with your EIN not your social security number or a personal guarantee if that interests you learn more below
Otherwise thanks for watching its the man, the myth, the Wealthbuilder himself DeVaughn Put In Work Burke signing off for Top 3 Vendors to help you build business credit.
Do remember Wealthbuilderz Make more Save more Build more Peace!
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