I have new details on a net-30 account here.  Old account, new way to apply.  I will be hinest with all of you, business credit is becoming very difficult to obtain.  I look forward to moving to our new business model, and the new site because all of our readers will have the opportunity to take the power away from business credit companies, and finally have full disclosure.Here are the new rules for the Grainger account.

Grainger

The new key for Grainger is to FAX you application in, not calling.
The new key for Grainger is to FAX you application in, not calling.

I really wanted everyone to know that.  Go to the website and find the location closest to you and fax the application in to that store.  I usually wait a couple of days to call in and check, but thats the new way that the cookie crumbles.

PS – I was sick last week and some people gave me a call.  Call me back this week if i don’t get back to you today, I want to talk to you.

– Elijah

614-625-2907

eyoung@mysmallbizcredit.com

I hate to be so dramatic, but I know alot of you have seen this coming for a long time now.  Net-30 companies are not interested in being used for reporting purposes, and they are definitely tired of being burned by scammers, so what are we, as honest business-owners looking to strategically choose our vendors, to do?  In short, be more strategic.

We are finding that it is the way that you apply to a net-30 that affects your approval or not.  The days of filling out some dry online form and magically getting 10-15 net-30 accounts is over.  This has become a contact sport, phoning in orders are the new “it” process, and the way you pay has become important as well.

The net-30 hump is the hardest to get over.  Sometimes the representatives of our favorite net-30 companies are rude (cough*Quill*cough), and sometimes they even, unintentionally, make you feel as if your business isn’t important enough to order that overpriced red stapler that they are offering.  When you get discouraged by a net-30 company that is giving you “the business” (an not in a good way), remember this:

They are in business too!

What I mean is, don’t take this personal.  For larger companies, they make much more money off repeat customers with whom they have relatioships than the one-and-done new company that orders $50 and never comes back.  I’d even say that those one and done customers have a default precentage of at least 40%, in contrast to a 10% default rate among customers who have ordered for 6 months or longer.  It’s business.  No matter how that CSR talks on the phone, remember they are just relaying the companies info, and trying to keep their jobs.  As entrepreneurs we sometimes have to look past the surface and be able to judge the systems in place to find a reason fro what we experience.

Remember, if business was easy, nobody would care about having a job.  You are the leaders of  this economy, and it only does well, when we you do well.  You may have to call 50 net-30 companies to get your 5 to report to DnB, or you may only have to call five, but either way you have to be on your p’s and q’s every time and put your best foot forward.  Remember, you can always call us and sign up for our unlimited phone and email coaching to stop you from pulling all your hair out . . . unless it’s too late already

Here are some tips to get around some of this net-30 muck that’s going around:

1. Call back/Ask for a Manager -Always consider that you just spoke to the wrong person, maybe someone is giving you a hard time because they had a bad day, don’t let them transfer their stuff onto you.

2. Stay respectful and patient - Never lose your cool, you should be in control of your emotions, if they tell you know, they just lost business ad revenue, not you.  You might just get pity if you stay calm, but you’ll never get the account by blowing your top.

3.  Fax your app/Wait to check in - Try to fax in an app and wait a few days before you call about a decision.  Remember credit is often given the most when it appears that it isn’t needed, don’t be too eager, you’ll look like a scammer.

4. Make a looooong list - There are about 7000 companies that report to DnB, why is everybody using the same 4-5? (Unfortunately, we do not give out, or sell lists)

5. Take your time - I don’t know how you heard about business credit, but we are always going to give you our best advice possible, set aside 12-15 months to do this.  Especially in the credit arena that the US is in right now, this journey will be difficult.  It may take an extra 3-4 months for your to get your paydex, but it will work just as well when you do get it.

6. Get help - Much of this blog is free, but there are services that we offer to help you.  Even if you choose not to use us, use someone else.  Getting help goes beyond shooting off an email or a phone call every once in a while.  Early mistakes could take months to affect the credit your get, but eventually it will affect it.  There are plenty of companies that will help you build business credit, and yes; we are one of them.  The point is that you find someone who knows more than you, and ask questions.  (BTW, our coaching is the best value in the country, check around!)

7. POST HERE - Have you ever heard that no question is a bad question? Part of the reason is that someone might have had the same question as you, and you bailed them out!  I was on a conference call for CPN’s yesterday and I heard some of the worst questions that, without a doubt proved that these CPN buyers were looking to do illegal and unethical things, but they had no remorse in asking.  So why would you, a growing entrepreneur have reservations about correctly leveraging your business credit vendors?  Use the comments on this site, I am on all the time and can answer most questions right online.  Get involved here, and the discussion will answer most of your questions without you asking.

That’s all for now, know that we are here to help, and we appreciate you reading our blog.  We’ve got some exciting changes for you in the near future so stay tuned!

–Elijah

eyoung@mysmallbizcredit.com

614-625-2907

Company Summary: In 1994, Reliable, a company with a rich 75-year history of providing office products to all types of businesses, became a part of Boise Office Solutions. In December 2003, Boise Office Solutions and OfficeMax merged to become one of the premier office supplies companies in the US and around the world.

Today, with nearly 90 years experience, Reliable continues to lead the industry with our World Class customer service, extensive product selection, competitive prices and next day delivery to 95% of the continental US. Reliable is based in Naperville, Illinois with customer fulfillment centers located nationwide-from California to Maine.

Why should you care:  Reliable is one of the many office supply companies that a business credit company will get you in the beginning.  Their selection is ok, but not amazing, and their credit terms are not as lenient at other companies’.  Their prices . . . Don’t get me started.  Reliable does have lightning-fast shipping, and enough of a selection to get your office out of a crunch if you need supplies yesterday.  Their website isn’t the easiest to navigate (no pictures of items, just lists), and their credit department hawks over new companies like you wouldn’t believe.  Most of their emails and verification is just fluff, but they have been known to deny an account or two if your DnB file isn’t up to par, or found via name search.

Reporting:  Reliable was one of the first credit vendors to fight the surge of business credit customers with tighter restrictions.  Their accounts aren’t as easy to get, especially with newer corps, and their CRS’s will swear to you that they don’t report.  Between you and me, they’re lying.  They still report, but have probably moved their newer accounts to a quarterly reporting schedule to dissuade newbies from using them in a one-and-done fashion.

Final Verdict:  Reliable has it’s ups and downs as a business credit vendor.  If you are new, they may treat you as if you have the plague, but returning customers are welcomed with open arms.  Their website is in drastic need of an upgrade, but their shipping will show up as fast as humanly possible.  I will always use and recommend reliable’s net-30 account, even to my newer clients who may need to verify some info with their credit dept before they can get their items, they are well worth the trouble.

–Elijah

eyoung@mysmallbizcredit.com

614-625-2907

Company Summary: Not quite as old-fashioned as its name suggests, Quill Corporation is a distributor of office products to more than one million small and medium-sized US businesses. To compete with office supply superstores, Quill markets some 50,000 products under the Quill brand as well as other national brands (Bic, Hewlett-Packard, Mead, Papermate, Pendaflex, Xerox). It offers office supplies (binders, paper, envelopes, toner), furniture (bookcases, chairs, desks, file cabinets), and technology products (PCs, copiers, phones, software); it sells its wares through catalogs, by phone, and on the company’s Web site. Former CEO Jack Miller founded Quill in 1956; the company was acquired by office retail giant Staples in 1998.

Why should you care: Quill is always one of the first companies to give business credit, as soon as immediately after you have a DnB file showing. Quill also has one of the largest selection that I have seen in a net-30 for quite a while, and their massive catalogs don’t begin to describe the amount of inventory they have on hand, and have access to. A couple of phone calls revealed that you can have custom hats, t-shirts, and even pens created by Quill, and of course you can use your trusty net-30 account to leverage your resources. I don’t know of another starter net-30 where you can go from pens and pencils, to furniture and ipods all from the same company , all on business credit.

Reporting: The debate is pretty fierce between those who swear that Quill reports, and those who think that it’s a now “worthless” net-30. In my personal business credit experience, I have known Quill to report monthly, and lately quarterly, which may explain some frustration. (Imagine paying for your first order, only to find out that you missed the reporting cycle by a couple of days!) Unfortunately DnB has a strict policy against identifying its reporting members, I would still venture t say the Quill reports, but maybe not as often as you may like.

Final Verdict: Quill is a top 5 net-30 account whether you like it or not. I would stay under $100 for a first order, under $500 for a second, and under $1000 for a third, after that I think they give you a free reign to do as you like after you’ve proven the ability to pay within the net-30 billing period. Worst case scenario is that you may get a friendly email asking you to call in, but don’t be concerned, just answer the questions that they ask and you should be on your way with your first business credit account.

–Elijah