Step 4-1

Step 4.1 Vendor Credit: Starter Accounts

Starter accounts are from vendors that will extend credit to just about any real business with no credit or history established.

Module 4: Vendor Credit Lines
Step 4.1: Vendor Credit: Starter Accounts

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Vendor Credit: Starter Accounts

How This Step Works

The remaining vendors in the rest of Module 4 are displayed by category. For a complete list be sure to check out the new Level 1 directory It's key that you understand the approval requirements we list for each vendor prior to applying for credit with each one. You can always go back to a particular page in this system and apply when you do meet the requirements.

Be sure to track your vendors that you apply for credit with and track your progress and number of trade lines being established. Remember, you need 5 reporting tradelines before moving onto Level 2 credit sources we list in Module 5.

Instructions for Using Vendor Credit

Once you get approved for credit with a vendor, you must consistently use it. This is why it's essential to acquire credit from vendors that you can use to start, operate and/or grow your business.

Remember, the key is to establish a track record of positive payment history. One purchase won't do the job so use your credit lines each and every month not every so often. This will enable your company to build strong business credit scores with steady and consistent positive payment history.

***Special Note***

Remember, before starting on Module 5, you'll want at least five (5) trade lines reporting across your Dun & Bradstreet, Experian Business and Equifax Small Business credit reports. In fact, the credit sources listed in Module 5 will not approve your company for credit if you fail to meet the minimum of (5) reporting trade lines.

It takes 4 Reporting Tradelines to Establish a Dun & Bradstreet PayDex Score

The starter accounts listed below are the easiest accounts to get approved for even if you are a start-up company.

Once you have 4 positive reporting tradelines on your D&B report it will generate a PAYDEX Score (business credit rating) for your company. With an established PAYDEX Score of 80 you can now apply for more mainstream suppliers, retailers and fleet cards listed in the system that check your D&B report for credit approval.

CLICK HERE for the New Vendor Directory (2021)

Amsterdam Printing

Description: Amsterdam printing creates custom business promotions. They brand apparel, bags, calendars, drink-ware, HR forms, office supplies, etc.

Reports to: D&B and Experian Business

Approval Requirements: Just place an order and select "Bill Me" option.

Payment Terms: Net 10

CLICK HERE to Apply

Paramount Payment Systems

Description: Paramount Payment Systems gives your business the ability to offer your customers payment terms on products and services you currently offer. This is a powerful way to increase sales since potential customers may not be able to afford high up-front costs associated with pricey products and/or services. This program enables you to get paid right upfront while giving your customers the ability to pay over time. This program works because it's based on the customer's checking account history not credit scores or assets they own.

Reports to: D&B

Approval Requirements: This program will NOT work for businesses in the following industries: Web design, Jewelers, Used Cars (unless they have a body shop or repair shop), Basic Retail, Businesses that run 100% online, TV sales, Cell phones and Car/Home audio/Finance related. To get approved you will need to provide an EIN, years in business, and 2 trade references along with basic business information. The signor on the paperwork will also need to provide basic personal information but no personal guarantor is required. You may also need to provide a voided check from the company's business checking account and most recent month's bank statement.

Payment Terms: Net 30