From the course: Credit Secrets for Entrepreneurs

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Establish references that report

Establish references that report

From the course: Credit Secrets for Entrepreneurs

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Establish references that report

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- This is where you really see the results of building business credit. It's when you start to establish references with companies that report to commercial credit agencies. This is sometimes tougher than it may seem. I've talked to businesses that have been in business for a decade or more. They will tell me, I always pay my bills on time, but I have no business credit. This is because they haven't been doing business with companies that report. I want to make it super simple for you to do that. So in your handout, you're going to see a reference with a list of company names that are very easy to establish those first trade references with. These are called vendor or supplier credit. You may have heard it termed as Net 30 accounts. Net 30 means your bill is due in 30 days after the invoice date. These companies offer all kinds of products to small businesses. It could be office supplies, janitorial or safety supplies.…

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