Step 2: Vendors Extend Credit and Provide Trade References

Transcription

1 Step 2: Vendors Extend Credit and Provide Trade References

2 In Step 2, your goal is to get four accounts established that give you credit. You will be getting terms that allow you to buy items and pay for them later. The typical terms you will get are 10 days to 30 days to pay the bill in full (which is called either net 10 or net 30). DO NOT WAIT until you get your DUNS number to start Step 2. You do NOT need to give the vendors your DUNS number. At this point you probably have not received your DUNS number yet. No one will ask you for your DUNS number or your social security number. The credit you get on Step 2 WILL report to Dun & Bradstreet. Your company must be active and in good standing with the secretary of state, AND your company name and address MUST match what is at on file with the secretary of state. Step 0 of our program tell you to personally verified that this is the case. This must be done which is why we have this urgent alert at the beginning of each of the Step 2 vendors: URGENT ALERT!!! - For ALL of the vendors, when giving your company address, you MUST use the EXACT company name and address that is on file with the secretary of state - Vendor accounts (apply for ALL of these right away - you can apply for them ALL ON THE SAME DAY - do not wait) APPLY FOR ALL OF THESE EVEN IF YOU DON'T WANT THEM - you are doing this to build your credit. Do not skip these because you don't want to do business with them Uline Shipping Supplies - apply here first The web site address for Uline: They might not give you credit right off the bat. They might require that you make one or two orders with them first (on a cash basis) and THEN give you the credit. You will have to simply apply and see. IF they force you to make a couple of cash orders first, don't waste any time - make your first order right away, and then call back a day later and place your second order. Each time you order, tell them that you would like to have a net 30 account please. You do not have to order expensive items from them - it is fine for you to place very small orders. They offer products such as envelopes, shipping supplies, janitorial supplies NO personal guarantee is required to get approved. NO Paydex is required to get approved. They sometimes require a bank account for approval. They typically extend terms of Net 30 and sometimes start out with a small line of credit such as $200. They DO report to Experian

3 NO trade references are required. However, having them with a history will help get you a higher credit limit approved. HOW should you apply to Uline?: Over the phone INSTRUCTIONS FOR TAKING ACTION: Choose from the items below or search the catalogue at and pick out whatever you want to order. There is no minimum order. You can spend as little or as much as you want. Note down the model number of the item(s) you want to order so you are prepared to give that information to the customer service representative when placing your order Model No: S box of 100 plastic forks $5.75 Model No: S box of 100 plastic knife $5.75 Model No: S box of 100 plastic spoon $5.75 Model No: S pack of 6" Heavyweight Plates $9.00 Model No: S pack of 9 " Medium Plates $12.00 Model No: S pack of 13 gallon Glad Tall Kitchen trash bags $19.00 Model No: S pack of 30 gallon Glad Outdoor Bags trash bags $23.00 Model No: S-7801 #10 Plain envelope count - $9 Model No: S-7802 #10 Window envelope count - $12 Model No: S #10 Plain envelope Peel/Seal count - $23 Call to place your order and ask for net 30 terms on your order Because you asked for net 30 terms on your order, the customer service rep will mark the order as "request net 30", and it will be submitted to the credit department. if the credit department has any concerns or questions, they will call you, otherwise, if you don't hear from them within a day the order will just ship out to you on net 30. Majestic Advertising - Apply here second website: NO Personal Guarantee is required NO Paydex Score is Required They will give you terms of net 30 They DO Report to D&B They DO Report to Experian Phone: Got to their website and download an application then fax it to

4 Quill - Apply here third The website address for Quill: NO personal guarantee is required to get approved. NO Paydex is required to get approved. For new businesses, they will make you prepay for your first six orders. They will make you prepay for these orders and will have you make one order per month. They will report each of these orders to Dun & Bradstreet, showing that you have an account with them and that you are in good standing. On month six, they will give you a card and you will no longer need to prepay your orders. We recommend that you order from them six times (small items) and that you prepay the items The terms that they you are net 30. They do not report to Experian HOW should you apply to Quill?: Over the phone INSTRUCTIONS FOR TAKING ACTION: It is best to call them while their credit department is there, which is Monday - Friday from 8:00am - 5:00pm central standard time. If you call outside those hours, then the credit department will need to call you back the next business day. Call to place an order and tell the customer service rep you are talking with that you are requesting terms for your order. Pick out what you'd like to order and write down the item number(s). You can search for items on Some potential items for your initial order from Quill are: Item # Hammermill Laser Print Paper 81/2 x 11 Item #901-GSM-11-BK - Bic Round Stic Pens Medium Point Black Item # PaperMate Ballpoint Stick Pens Medium Point Blue Item# YW - Quill Brand "Post it notes" 3x3 Call then press 2 to place an order and ask them for terms on that order After you give customer service the item number(s) of the product(s) you'd like to order, they will try to patch you over to the credit department. As long as you are calling when the credit department is there, you should know within 5 minutes whether you're approved for the net 30 terms or not.

5 Grainger - Apply here fourth The web site address for Grainger: NO personal guarantee is required to get approved NO Paydex is required to get approved No trade references are required to get approved. Simply apply for $1000 or less in credit. You WILL need two trade references, and a bank reference if you apply for over $1000 in credit. They will give you terms of Net 30 They do NOT report to Experian Phone: HOW should you apply to Grainger? By Fax, and then call two days later to order something by phone INSTRUCTIONS FOR TAKING ACTION: To find a Grainger branch close to you, search using your zip code or telephone area code After finding your local Grainger store, note down their phone number (for future follow up) and their fax number, and your application to that store. Wait two business days from when you faxed in the application, and call to follow up with the specific branch that you faxed your application to. They will probably connect you with the new accounts team for further follow up. (The credit department may end up later asking you to fax them two forms of identification - one for yourself, which would be a copy of your driver's license, and one form of ID for your business: either a fax of your business card, OR a company check, OR a business license, OR a resale card.) Once your company has been approved, you will want to get your account number from them over the phone and order something immediately. (they won't be sending you a card - there is no card). You can go to to pick out what you'd like to buy. Some potential items for your initial order from Grainger are: Item # 2V542 - Flashlight, D, Yellow $5.43 Item #1F156 - Masking Tape, 1 inch width $2.31 Item # 6D010 - Utility Knife, 3 Blades $6.20 Item #5LL45 - Screwdriver, 5 in 1 $12.49 Item #1PBT3 - Sunscreen Lotion 4oz SPF30 $7.06 Item #1ZRA4 - Wood Ruler, 12 inches $1.39

6 Deluxe - Apply here fifth website: NO Personal Guarantee is required NO Paydex Score is Required They will give you terms of net 10, 15 or 30 They DO Report to D&B They do not Report to Experian Phone: Order a product or two and ask for terms Reliable Office Supplies - Apply here sixth Reliable's website address: Type of products offered: Office supplies and office related equipment, furniture, etc. NO personal guarantee is required for approval NO Paydex score is required for approval How many orders must be placed before terms established: 0-3 Terms: Anywhere from Net 10 to Net 30 They do not report to Experian If the amount that you initially order with them is small, then getting a net 30 account should be easy. The circumstances that cause them to make you pre-pay 1 to 3 orders before granting the net 30 account are when the business is brand new, and has no references, and no accounts whatsoever showing up on the D&B report that they pull. If that matches your company, DO NOT let this stop you from applying - you STILL may get approved without being asked to pre-pay orders. HOW should you apply to Reliable?: By phone TAKE ACTION INSTRUCTIONS: Pick out what you'd like to order and write down the item number(s). You can search for items on Some potential items for your initial order from Reliable are: Stock No. DC Duracell Alkaline AAA Batteries 8 pack $7.49 Stock No. DC Duracell Alkaline AA Batteries 8 Pack $7.49 Stock No DC Duracell Alkaline C Batteries 8 Pack $12.99 Stock No DC Duracell Alkaline D Batteries 4 Pack $7.49

7 Stock No SW545 - Swing line Economy Stapler $3.99 Stock No OM boxes of 100 2" paperclips $5.69 Stock No OM boxes of /8" paperclips $2.09 Call , place your first order and ask for net 30 terms on the order. They may tell you that the order might be delayed for a few days while credit reviews the order and that perhaps you'd like to pay for this first order with a credit card. Decline that offer, just tell them that you will wait for a credit decision. You need a minimum of FOUR approvals on Step 2 - what if you get some denials? Your goal for Step 2 is to get approved for business credit accounts with four of the above vendors. Then, of course, immediately order something on your credit accounts, and pay for it on time (or early). If however, you don't get approved for four of the above vendors Step 2a: BACKUP VENDORS - We recommend you use the "earned credit" vendors below IF you don't get four approvals on the standard step 2. Through multiple purchases - these vendors will let you "earn a credit account with them.

8 The vendors below report to either D&B or Experian or both and will allow you to "Earn a credit account" with 1-3 purchases that are paid for up front. THESE VENDORS ARE YOUR "BACK UP" in case you don't get approved for at least four accounts from the Standard Step #2 Vendors. For example, if you only got approved for three of the Standard Step#2 Vendors, then you would seek an approval for one more vendor from the list below of "earned credit" vendors - that way you'll still end up with a total of four approvals. Again, the vendor accounts below are not as ideal as the "standard step 2 accounts", because the ones below will most likely require that you make one or more purchases with them before they extend credit to you. Back up - "Earned Credit" Vendor accounts: Gemplers IMPORTANT!!! - For ALL of the vendors, when giving your company address, you MUST use the EXACT address that is on file with the secretary of state -click here to verify the address is EXACTLY the same The website address for Gemplers: NO personal guarantee is required to get approved. NO Paydex is required to get approved. They will give you a "basic credit account limit" of $300 For new businesses, it is possible that they will make you prepay for your first one or two orders, and then they will grant you terms of net 30. They do not report to Experian Hours: Monday - Friday 7:00 A.M. to 7:00 P.M. Central Standard Time and Saturday from 9:00 A.M. to 5:00 P.M. Central Standard Time Their CREDIT DEPARTMENT is open from 8:00am to 5:00pm central time - if you want to handle as much as possible on the first call, call while their credit department is there - from 8:00am to 5:0pm central time. If you are not available to call during that time, then don't delay - just call during operating hours and the credit department will review the next day. HOW should you apply to Gemplers?: By phone INSTRUCTIONS FOR TAKING ACTION: Pick out what you'd like to order and write down the item number(s). You can search for items on Unless you are into gardening, or farming, it may be difficult to find inexpensive items that you'd like to buy. They don't sell many small inexpensive items. Some potential inexpensive items you can buy from Gemplers are: Item no: BRN Leather belt $13.30

9 Item no: Cap $8.82 Item no: SuperKnife Stealth $10.95 Item no: Stretch Wrap and Carton Cutter $5.60 Item no: Handsaver Cutter $13.95 Item no: Replacement snap blades for handsaver cutter $5.95 Item no: Victorinox All-purpose Folding Knife $15.35 Item no: Victorinox 20 Tool Swiss Army Knife $55.00 Call to place an order and ask them for net 30 terms on that order

10 S. Walter Packaging Corp S. Walter Packaging Corp's website address: Type of products offered: Bags and packaging items, gift wrap & bows. NO personal guarantee is required for approval NO Paydex score is required for approval NO trade references are required for approval How many orders must be placed before terms established: 1 Terms: net 30 During the check-out process you may request a net 30 term. They DO report to Experian They do require you to place an order to set up the term of credit. The good thing about this vendor is that they do report to both D&B and Experian, so at least you're getting real credit building to both bureaus out of the money you spend with them. On their site you can select items to order, they offer a closeout section with items from $2 to $100. Phone: Weekdays 8am-8pm Saturdays 9am-2pm EST Instructions for Ordering: Pick out what you'd like to order and write down the item number(s). You can search for other items on Some potential items for your initial order from S. Walter are: Double Sided Ribbon Slitter Code: SHRD102 Qty 1 Price: $5.50 Curling Ribbon Code: RC1 QTY 1 Price: $1.85 White Tissue Paper Code: TIO Sheets/2 Reams/1 Pack Price: $ 6.90 Scotch Tape Code: T QTY 1 box (6 rolls) Price: $13.80 Perfect Bows Code: PF5 QTY 1 roll Price:$12.50 Tulle Ribbon Code: TR QTY 1 roll Price: $3.55 Check the clearance section for special deals and prices. Global Industrial Global Industrial's website address: Type of products offered: Industrial Supplies, Storage Equipment, Packaging, Furniture, Pallet Trucks, Computer Cabinets, Wire Shelving, Chairs, Hand Trucks and Stock Carts. NO personal guarantee is required for approval NO Paydex score is required for approval NO trade references are required for approval How many orders must be placed before terms established: 1 Terms: net 30 During the check-out process you may request a net 30 term. They DO report to Experian

11 They do require you to place an order to set up the term of credit. The good thing about this vendor is that they do report to both D&B and Experian, so at least you're getting real credit building to both bureaus out of the money you spend with them. Phone: Instructions for Ordering: Pick out what you'd like to order and write down the item number(s). You can search for other items on Some potential items for your initial order from Global Industrial are: Stacking Bins Stock# TMD550100BG QTY 1 Price: $0.65 Dividers for Bins Stock# TMD QTY 6 Price: $2.95 Packing Tape Dispenser Stock# TMD QTY 1 Price: $5.95 Handle With Care Labels Stock# TMD QTY 1roll 500 labels Price: $20.00 Check the Inventory Clearance for special prices and deals. Branders Branders website address: Type of products offered: Custom imprinted promotional products. NO personal guarantee is required for approval NO Paydex score is required for approval NO trade references are required for approval How many orders must be placed before terms established: 1-3 Terms: net 30 They DO report to Experian They do require you to place an order to set up the term of credit. The good thing about this vendor is that they do report to both D&B and Experian, so at least you're getting real credit building to both bureaus out of the money you spend with them. Phone: Print Globe Print Globe's website address: Type of products offered: printing, postcards, letterhead, business cards NO personal guarantee is required for approval NO Paydex score is required for approval NO trade references are required for approval How many orders must be placed before terms established: 1-3 Terms: net 30 During the check-out process you may request a net 30 term. They DO report to Experian

12 They do require you to place an order to set up the term of credit. The good thing about this vendor is that they do report to both D&B and Experian, so at least you're getting real credit building to both bureaus out of the money you spend with them. Phone:

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