Net 30 accounts help businesses manage cash flow and build credit by allowing them to buy now and pay within 30 days, providing extra financial flexibility. However, understanding payment terms like Net 30 can feel overwhelming if you’re a new entrepreneur.
That’s why we at Remitly have created this guide to help you navigate the process. We’ll walk you through choosing the right Net 30 vendors, applying for accounts, managing them effectively, and understanding their impact on your cash flow and business credit.
Selecting the Right Net 30 Vendors
The right Net 30 vendors can help you manage liquidity and build business credit. When choosing vendors, consider:
- Product relevance: Choose vendors aligned with your needs.
- Credit reporting: Prefer vendors that report to credit bureaus.
- Payment terms: Understand deadlines, fees, and methods like ACH transfers or cards.
- Reputation: Research using platforms like Yelp or Google My Business.
Below, we cover how Net 30 works and list vendors that are popular or offer accessible terms.
Applying for Net 30 Accounts
Most businesses of all sizes can apply. Requirements often include:
- Phone number
- Legal business name and address
- Website URL
- Proof of business registration
- Employer Identification Number (EIN)
- DUNS number
- Business bank account
- Time in business (e.g., 30+ days)
Tips to improve approval odds:
- Maintain organized financial records
- Submit accurate applications
- Start with 1–2 accounts
- Review any required fees upfront
Managing Net 30 Accounts
- Track invoices: Use tools like QuickBooks or FreshBooks. Monitor exchange rates if applicable.
- Build a payment routine: Pay on time or early, and automate payments if possible.
- Use early payment discounts: Like 2/10 Net 30.
- Review account terms: Monitor credit limit increases and updated terms.
- Communicate with vendors: Set reminders, follow up before due dates, and discuss any delays.
Impact on Credit and Cash Flow
- Credit building: Timely payments help improve your profile with bureaus like Creditsafe.
- Cash flow: Net 30 terms free up working capital and allow for strategic spending.
Organizations like SBFE also help share credit data with lenders, further enhancing your profile.
Net 30 Vendors to Consider
Note: Vendor mentions are for informational purposes only and do not imply endorsement. Please verify terms directly on the vendor’s site.
Easy Approval Vendors
- Creative Analytics: Offers $1k–$5k lines with annual or monthly fees.
- Branded Apparel Club: Apparel vendor with $69.99/year membership.
- Office Depot OfficeMax: Credit approval required; offers initial purchase credit.
- The CEO Creative: Offers various supplies; requires clean payment history and a $49 fee.
- GoodNeon: Offers credit with no personal check, 30% deposit, and two prior accounts.
- NAMYNOT: Provides up to $10k credit for digital services; no credit check required.
Popular Net 30 Suppliers
- Uline: Offers shipping and office supplies; may require credit history.
- Newegg Business: IT/electronics vendor with volume discounts.
- Quill: Office supplies with quick approvals and loyalty discounts.
- Crown Office Supplies: Net 30 plus credit education tools.
- Grainger: Industrial tools and supplies; ideal for manufacturing or construction.
FAQs
What are Net 30 accounts for startups?
They allow purchases with 30-day payment terms, helping with cash flow and credit-building.
Do I need a DUNS number?
Not always, but some vendors require one for credit reporting purposes.
How many accounts should I open?
Start with 1–2 to build history; add more over time as you manage them effectively.
Is Amazon a Net 30 vendor?
Not typically, but Amazon Business accounts may offer credit terms depending on eligibility.
What does $6,000 Net 30 mean?
You can spend up to $6,000 with repayment due in 30 days from the invoice date.
Does Net 30 include business days only?
No, it includes calendar days unless specified otherwise.
Which account is best for new businesses?
A business checking account (e.g., Chase, Bank of America) with low fees and good digital access is a strong start.