Establish Initial Business Lines of Credit


Below are lists of companies that will extend business credit. Apply immediately after your business has been established correctly. These companies can help you get the Paydex score that your company needs to open up greater doors. Please remember, patience is a virtue in establishing business credit. There are companies that will extend credit without having a Paydex score. If the application suggests a Dun and Bradstreet number and you don’t have a Paydex score yet, I would suggest that you not apply until you get it. In order to open an account, some of the companies below will require you to purchase merchandise prior to opening a new account. Stay under $100 and the account will be opened without prepayment. In certain instances a vendor may require that you pre pay your order. If this happens it is best go ahead and pre pay so that the account can be opened so your payment history can be reported

 

Reliable www.reliable.com (Make a purchase online or call and request a catalog)

Nebs www.nebs.com (Make a purchase online)

Quill.com – www.quill.com

Gemplers- www.gemplers.com

Staples www.staples.com (Be sure to fax over something addressed to your business when you fax over your application. It will make the process a lot smoother.)

Uline www.uline.com (Once you have decided on the items you would like call them and place an order and be sure to tell them that you would like to set up an account)

Grainger www.grainger.com

Interstate Battery www.ibsa.com– (Click on “my account” then click on “open a new business account) A good rule of thumb is to pay the invoice to the company a week before they are due.Why? Because creditors report timely payments and reflects your account in good standing. If you need more supplies, it will be acceptable to place another order.

Seton www.seton.com

The more orders that you place, the more credit you are building. Once you have established your Paydex score of 75 or above the key is keeping it! The only way to keep yours score good is to pay all bills on time and make sure that you order from your suppliers (or 1 or 2) suppliers monthly.