You will have the following information on each vendor: the services they provide, who they report to, the terms, the application form and contact information.
You will know which “starter vendors” are recommended for a new business and which vendors your business will need to approach later, after a business credit profile has been developed.
Below is a summary of the reporting vendors you have selected to apply with.
This summary also appears on your Dashboard. Remember, the goal here is to obtain at least 5 vendor credit lines that will report your Net payment history to the business credit agencies. Now it’s time to simply open accounts to place your first “orders” and then make your first payments at least 5 – 10 days early.
Begin With The Starter Vendors!
The vendor process needs to go in stages and the first stage should definitely be with the Starter Vendors. This includes any vendors you may have opened accounts with throughout Steps 1 and 2 as well. Just make sure you begin with at least three (3) Starter Vendors.
You’ll need to verify that your first payments for products or services with the Starter Vendors show up on your business credit reports before applying with any other vendors in Step 4.
This credit usage will eventually lead to strong business credit scores which, in turn, will allow you to open credit lines with almost any vendor who extends credit terms.
So with at least five (5) Net-Terms accounts as our goal, you may have to apply with seven (7) or eight (8) vendors to get the 5 to 6 reporting vendor tradelines you need.
7 Steps to Our Ultimate Business Credit Building System:
[learn_more caption=”Business Questioner and Evaluation:”]
- What type of business credit funding will I receive for my business? Cash or vendor lines?
- How much funding will I receive?
- How fast will I receive the funding?
[/learn_more][learn_more caption=”Personal Credit Training”]
- Personal Credit Repair
- Comprehensive Budgeting
[learn_more caption=”Compliance Process”]
- Separate Legal Entity
- Initial List Filed
- Business Address (combine 4 and 5)
- 411 Listing
- Local Phone
- Business License
- Web Site
- Fax Number
- Business Plan
- Bank Rating
- Business Classification Code
[learn_more caption=”Business Credit Bureaus”]
- D&B® set up
- Steps to Report to D&B®, Corporate Experian® and Corporate Equifax®
[learn_more caption=”Cash Funding and Vendor Lines of Credit”]
- Funding Specialist
- Funding Options
- Starter Vendors & Applications
- Vendors for Office Supplies, Marketing, Print & Applications
- Vendors for Building & Industrial Supplies & Applications
- Revolving Credit Accounts & Applications
- Revolving Accounts for Office Resources & Supplies
- Revolving Accounts for Building & Décor Supplies
- Revolving Accounts with No Personal Guarantee
- Additional Vendors
[learn_more caption=”Business Credit Coaching”]
- Certified Business Credit Coach
- Contact information & Hours
[learn_more caption=”Business Credit Training and Support”]
- The 55 Secrets to Secure Business Credit (CA$H) for Your Business AND Keep
- 100% Ownership of Your Company
- The 29 Credit Score and Repair Secrets, Plus 10 Bonus Secrets to Save Your Home
- CEO Scott Letourneau’s “Golden Rolodex” of Business Credit Vendors & Resources
- Business Credit
- Triple Overlap
- Joint Ventures
- Raising Money
- Incorporate Webinar
- Business Credit Webinar
- Call- in-days with Scott Letourneau
Starter Vendors Reliable Office Supplies
Service Description: Reliable Office Supplies, the small business division of Office Max, has over 30,000 items available, and offers exclusive discounts and Five Star Guaranteed service. Premier program members will enjoy and column pricing on all order and access to a full line of office products, technology, furniture, paper, janitorial and break-room supplies and much more.
Reports to: D&B, Experian, Equifax (Reports after 30days)
Getting Approved: 1) Go to https://www.reliable.com/profile/loginOrRegistration.jsp?clickLink=myAccount and create an online account. 2) Purchase your item(s). 3) Once the item(s) has been purchased you will fill a credit application and a credit review will be performed. 4) Depending on what comes back from the credit review, you will be contacted and given options on what you are qualified for.
Payment Terms: Net 30
Application: Once you place your order you will receive a credit application.
Other Information: The approval process takes between 1-5 minutes. In some cases the application may need further review. If your application is approved you will receive your credit card in the mail between 7-10 business days (2 weeks). If you are not approved you will receive a letter in the mail informing you on the reasons.