4 Business Credit Lines Every Company Needs

Uline

  • Uline is a vendor credit line that specializes in shipping supplies.
  • Uline is considered one of the best credit lines for startup businesses.
    • They report to Dun & Bradsteet, which is one of the most widely recognized business credit reporting agencies.
  • It is also very simple to get approved with Uline.
    • If you set up a business with a fundable foundation, they you can easily be approved with Uline, even if your business is a startup with no reported business credit.

When starting a new business, it is important to set up a business credit account to ease cash flow to buy essential items, while simultaneously building credit.

Wex

  • Wex is a vendor that specializes in many different types of fleet credit cards.
  • If vehicles are an essential component of running your company, setting up a Wex account is extremely beneficial.
  • Wex reports to multiple credit reporting agencies, including
    • Dun & Bradstreet
    • Equifax
    • And Experian
  • As your business acquires more payment experiences, you will continue to build more credit at a faster rate.
    • You will automatically gain three payment experiences with one Wex account.
  • You can obtain a Wex account as a startup business, however Wex often requires a personal guarantee and a $500 deposit, which some new businesses may not have.
  • If you already have five to eight payment experiences, Wex will easily approve you for a high limit account without a personal guarantee or credit check.

Amazon

  • Almost any entrepreneur can use Amazon to buy essential company items to launch or continue growing their business.
  • Amazon is one of the initial business credit accounts you can get to start building business credit immediately.
    • Once you have at least five payment experiences with Uline or Wex, you can apply for an Amazon corporate credit card and get approved for up to $30,000 limits.
  • Many Amazon credit lines are available over a net 30 to 55 time frame, meaning you have one to two months to pay back the actual credit line you are receiving.

Amazon also reports to the business credit reporting agencies, making it easier for your business to gain more payment experiences over time.

Brex for Cashflow Management

  • Brex has tools to help your business easily manage cashflow.
  • When you are initially starting a business, you usually don’t have accounting assistance from
    • CFOs
    • Controllers
    • Accountants
    • Or Bookkeepers
  • Brex makes it easy for business owners to manage company expenses and hire employees.
  • Not only is Brex a great cash management tool, but it is also integrates with a lot of core accounting systems that your accountant in the future anyways.
    • Brex reports to Dun & Bradstreet.
  • They give you the equivalent of a cash debit account, and the more you fund that account, the credit limit increases on your business credit reports.

This type of account can give you a limit five times higher than the average high limit business credit account.