| Copyright (c) 2009 Marco Carbajo | | | | working website. New businesses can start out with |
| Once you have an entity structure and obtained a Dun | | | | smaller limits that will increase when you pay on time |
| & Bradstreet number now it's time to start building your | | | | every month. |
| business credit profile. One of the biggest mistakes | | | | Source 2 |
| made by entrepreneurs attempting to build instant | | | | National Entrepreneur Club |
| business credit is applying for numerous vendor | | | | N.E.C. is a business credit community for entrepreneurs |
| accounts. | | | | providing business credit training, tools, resources, |
| While some may have a tendency to believe that the | | | | videos, audios, news, and much more. N.E.C. has a |
| more the merrier is a sound strategy I tend to | | | | wide range of discounted top name services. |
| disagree. The reason is simply getting approved for | | | | N.E.C. offers a monthly membership account and |
| vendor credit is one thing but what really matters is | | | | reports to Dun and Bradstreet. Best part is they report |
| whether or not the vendor reports your payment | | | | your payment history every 30 days. |
| history. | | | | Source 3 |
| There are over 500,000 vendors extending credit to | | | | Visa Business Platinum Card |
| businesses, but less than 6,000 of them report to the | | | | Capital One by far provides the fastest response for |
| business credit bureaus! So for real instant business | | | | business credit approval. (60 seconds) This card is |
| credit that will build your profile requires that you | | | | perfect for new or established business owners who |
| choose the right vendors to apply with. | | | | want to build business credit history. |
| Secondly, there are vendors who do report your | | | | Capital One Small Business offers a 0% introductory |
| payment history but only on a quarterly or even yearly | | | | APR on purchases until 2010 as well as balance |
| basis. Time is of the essence and you also have to | | | | transfers. There's no annual fee and credit line |
| make sure the vendor you apply with also reports | | | | approvals can be up to $10k. |
| your payment history on a monthly basis! | | | | While you can obtain instant business credit for your |
| Here's some credible sources: | | | | business the process of building a business credit |
| Source 1 | | | | profile and score does take some time. As long as |
| Quill | | | | you continue to keep your credit lines active and |
| Quill sells office supplies, cleaning supplies, packing and | | | | maintain a good payment history with low balances |
| shipping supplies, school supplies, printing supplies, and | | | | (less than 30%) you can expect to see your credit |
| more. From filing and storage to hand held computers, | | | | lines increase over time. |
| Quill has a wide range of discounted top name brand | | | | As you continue to apply for more vendor accounts |
| products. | | | | and establish new trade lines on your file the greater |
| Quill offers a net 30 account and reports to Dun and | | | | the opportunity your business has for getting approved |
| Bradstreet. Best part is they report your payment | | | | for even larger credit lines. |
| history every 30 days. For small orders you can get | | | | Always remember that vendor credit opens the door |
| approved with a listing on 411 directory and have a | | | | to cash credit for your small business. |