When your company needs funding, there are other options that you can consider aside from bank loans or lines of credit. One of these options is Corporate Cash Credit’s business funding program called Trade Credit.
This Net-30 or Revolving Credit Account with different vendors allows you to finance the purchase of products and services up to your approved credit limit without providing any kind of personal guarantee nor personal credit check. This purchase is expected to be paid in full within 30 days after the products and services are delivered. It is always recommended to pay the vendors sooner than expected as this would be reflected more positively on your business credit history. Some vendors even offer discounts to those who make early payments — any savings, big or small, is always good for your business! So always make sure that your relationship with the vendors will not be tarnished as this could also lead to you being hit with penalty fees or interest rates. (Note: Net-30 policy varies for each vendor.)
Products and services usually required by businesses are the following:
- Electronic equipment
- Electronic equipment
- Furniture
- Shipping services
- Office supplies
- Manufactured goods
These are just a few of the day to day products and services that you would need in order to operate your business and they can easily be funded through Trade Credit.
Finally, as wanting to build business credit is a numbers game, the more active revolving credit accounts in good standing you have, the better it will be for your business credit score. (Ideally, you want to aim for more than 80 Paydex score which is considered in the top level of creditworthiness for a company) Some of the vendors that you can work with and help you build business credit are the following:
- Comp USA
- Costco
- Office Depot
- DHL
- Hertz
- Lowe’s
- Sprint
- Ikea
- Apple
- FedEx
- And so many more!
Are you ready to build business credit now?
If you need financing and do not want to acquire it from a bank, then Trade Credit is the best option for you. Visit CorporateCashCredit and get a free business credit analysis. You may also contact us at 786-930-4547 should you need to learn more about Trade Credit. Our team of financial experts is available 24/7, so you may discuss how to build business credit at your most convenient time.
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