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Net 30 invoice template for Building services

what's up this is Kelvin and welcome back to  my channel where we discuss Financial Wellness   mindset therapy and real estate in today's video  I'm going to cover the steps that you need to take   in order to build business credit in 2024 exactly  three years ago I made a video about how to build   business credit that low key went viral with over  520,000 views and this is the long overdue sequel   if you follow the steps in this video it will help  you build a solid foundation of business credit   that will help you qualify for business funding  including micr loans high limit corporate credit   cards and more within 3 to 6 months to simplify  the process I'll break everything down into the   first round of establishing business credit but  before I give you my top recommended business   credit vendors let me make a few things very clear  number one there is a difference between business   credit and corporate credit you see corporate  credit is any line of credit that's extended to   a business business entity better known as  EIN only or no PG while business credit on   the other hand is any line of credit or business  funding that's extended to you as an individual   on behalf of a business hence why I always say  there's no such thing as no PG business credit   but corporate credit will allow you to build  business credit stick with me now I promise you   by the end of this video video it'll all make  sense next when I say no PG and you don't know   what that means don't feel bad it simply means no  personal guarantee which means the vendor will not   check your personal credit report for approval  and you will not be personally held responsible   for the debt but your business will however  there's nothing wrong with PG when necessary   Additionally the vendors that I'm about to mention  in this video are simply recommendations I do   not own any of these businesses and most of them  are small businesses just like yours but they hold   contracts that enable them to report your payment  history to major credit reporting agencies these   are services that I've personally used myself or  my business partners and or mentees have used with   success to establish and build business credit  but of course you can use whatever vendor you   would like just be sure to fully vet the service  and understand how it benefits your business just   as I do lastly you should not sign up for anything  unless your business qualifies for business credit   if you're unsure if your new business qualifies  for business credit you should check out the   video that I made right up here where I give you  my eight keys of having a legitimate incredible   business and trust me it will help you ensure  that all of your tees are crossed and your eyes   are dotted before jumping the gun all right guys  so once your business is legitimate incredible   on paper you can get started with what I call  the first round of establishing business credit   everything that I'm about to mention is startup  business friendly and everyone should start with   at least three Net 30s that simultaneously report  to Dun and brat Street Experian and Equifax yes   even if you have excellent personal credit and if  you don't know a net 30 account is simply a line   of credit that's extended to your business from  a corporate vendor that will give you 30 days to   pay your invoice in full if you don't pay the  invoice within 30 days it will definitely hurt   your business credit rating so it's always a  good rule of thumb to Simply pay it back early   which instead will help boost your business credit  rating so the very first tier one net 30 account   that I recommend is nav Prime nav is a business  credit monitoring service that allows you to view   your credit reports and scores from Experian  Equifax and the most important score of all   the FICO liquid score also known as the SBSS they  also provide you with Financial Insights give you   recommendations on different credit cards and  loans that your business may qualify for as   your business Grows All while helping you build  business credit too now for free nav will give   you some insights and allow you to monitor your  Vantage scores like what Credit Karma does but you   will have to pay the Prime membership to actually  see your business credit scores and reports   now at the time of recording this video  nav Prime currently cost $49.99 per month   which includes everything you see to my left  and for just $10 more you can add the SBSS   score which is used by the SBA which is the small  business administration now when you sign up I do   recommend choosing monthly billing when you choose  monthly it will be reported more frequently now if   you wish to sign up for nav Prime you can find  the link down in the description of this video   next on my list is one that you may be familiar  with already and that's both ULINE and Quill now   think of them as your virtual Walmart or Target  for business supplies they've both been around for   a long time and if you have a brick and mortar  business you definitely want to utilize them   for cleaning retail and shipping supplies now  both Uline and quill offers everything from Air   fryers and NFL merchandise to heavy equipment like  pallet jacks dollies and hand trucks now you can   purchase all these items and more by choosing the  pay by invoice option at checkout both online and   in store on net 30 payment terms at the time I'm  making this video each of your net 30 payments are   reported to Dun and brat Street and Experian just  simply create an online account apply for the net   30 then listen to what they tell you in terms  of their requirements for reporting because it   is going to be based on your specific approval  the next easy approval net 30 that I recommend   is edible business lift now this one is rare in  the fact that it presents an opportunity for you   to single-handedly build business credit across  various business reporting agencies with multiple   trade lines or as they're called in the world  of business credit trade references and or trade   accounts now wouldn't it be nice if you could get  credit for business expenses that you're already   paying well that's exactly what a business lift  subscription does it takes any bill that you pay   for business purposes and turns it into a reported  business credit trade line this includes any   business utilities like Power Water gas waste  mobile phones TV services internet landline   phones you name it also if you pay any type of uh  business rent or lease for virtual offices or any   other vendors that don't typically report you  can get them to report using this subscription   and those monthly payments will report to various  credit bureaus now this is in addition to the 1995   uh subscription that edible business lift offers  itself now that subscription also reports to   credit safe uh Experian Equifax and dun and Brad  street now here's the part where people tend to   get a little confused about what reports to who so  write this down now with e credible business lift   any bill that you link to your dashboard in your  business's name May report to any of the following   reporting agencies done and brat Street Equifax  credit safe or Experian however any bill or   expense that's in your name as the business owner  may only report to Equifax or credit safe and if   you want to fact check that guys all you got to do  is visit their website yourself because it's right   right there in black and white now of course each  account that you link needs to be verified because   all this is manually reported by the staff at  eCredable so if they are unable to contact the   Creditor for any reason to verify your identity  ownership or payment history they will not be   able to report it so you got to work with them to  make sure they get that information which is why   it's also important to make sure that all of your  business information stays up to date and accurate   everywhere including your business name  and address now this isn't a e credible   thing this goes for any and all corporate and  business credit accounts that you sign up for   and if you would like to sign up for eCredable  business lift just visit tinyurl.com/businesslift now those are some great recommendations  for net 30s now let's talk about tier one   revolving accounts these CS will  not only help you build business   credit but they'll also help you improve your  RCL which is your recommended credit limit so   that in the future you can tap into some  really high credit limits first tier one   revolving account I would like to recommend for  building business credit is the nav Prime card   now remember earlier in the video I was telling  you guys about nav Prime and how the subscription   reports to major credit reporting agencies while  also monitoring your business credit reports and   scores but in addition nav recently launched a  corporate charge card that provides an additional   trade line and allows you to build business  credit by paying everyday business expenses   using your nav Prime card with no credit check  and no security deposit it's super easy to use   it links to your business checking account and  automatically pays your spending balance daily   to avoid carrying a high balance or missing any  unnecessary payments which essentially means that   you get credit for every single swipe once you are  a nav prom member you'll be able to apply for the   nav prom card to maximize your business credit  building efforts next on my list is the Bank   of America secure business credit card at least  that's what I like to call it but the official   name is the business Advantage unlimited  cash rewards MasterCard secured credit card sorry that's a long name for any credit card  but guys what I love about this secure business   credit card is it's a great way to get your  feet wet and begin building a relationship   back when applying you'll be required to make  a minimum deposit of $1,000 but you can go all   the way up to $10,000 now of course whatever you  choose to deposit is up to you and it will become   your credit limit secure business credit cards  are hard to come by nowadays especially ones   that actually report and this one specifically  reports to the S spfe which is the Small Business   Financial exchange and the sbfe shares financial  data with dun and brat Street Experian and some   of the largest lenders in the nation another  great thing about this card is it graduates   to an unsecured business credit card and over  time they'll periodically review your spending   and payment habits to decide if you qualify for  an upgrade as they have some pretty great reward   cards in their small business lineup including the  World card which is their travel   rewards business credit card and their Platinum  Plus business card I'll drop the application link   for this card in the description because it's  a pretty long one next is the bill spend and   expense card formerly known as the divie card this  is another corporate spending card that allows you   to take control and manage your business expenses  while using both a physical and virtual Visa card   although it's technically a revolving account look  at this as a Net 7 account because at the end of   each calendar week a payment to cover the total  of all of your expenses will be automatically   drafted from the business checking account  that you link and the divy AKA now known as   the bill pay card will report to Experian uh with  no hidden fees so to apply for the bill spend and   expense card formerly known as divy you can visit  tinyurl.com divy bill or click the link down in   the description to support this Channel next on my  revolving business credit card list is the Sam's   master car now the reason this car is so popular  is because it's one of the very few that is   startup business friendly now remember at the  beginning of the video I explained the difference   between corporate credit and business credit well  this is the perfect example of a corporate credit   card because it requires no personal guarantee  which means you can apply for it with your EIN   only and they're essentially just going to vet  your business so as long as you have the 8 Keys   of having a legit legitimate incredible business  that I teach you guys you should have no problem   getting approved for the Sounds Club commercial  MasterCard but if you are denied it just means   that your business isn't fully established on  paper yet or there's some type of mismatched   data maybe you've had an address or business name  change or your phone number isn't registered on   the national directory but those are simple fixes  I teach you how to fully structure your business   without wasting time or money in green scale  Academy another great thing about the Sam's   Club MasterCard is you can get 5% cash back on  gas purchases 3% cash back on dining and 1% cash   back on all other purchases plus it doubles as  your Sam's Club membership card and guess what   you can actually use it in Walmart how dope is  that but it's also known to report to both dun   and brat Street and Equifax and if you would like  to check to see if your business is pre-qualified   you can visit the link that I'll provide where  of course in the description below or you can   simply walk into any local Sam's Club Superstore  to apply the next one on my list is usually on   the same street as Sam's Club and that's the Home  Depot Pro card by Supply works this is honestly   one of my most frequently used cars because I  love to work in my yard I'm always buying fruit   trees and all kinds of garden supplies from Home  Depot so naturally it's one of my favorites Home   Depot actually has two different business cards  the Home Depot extra Pro and the traditional   commercial revolving Charge car the one I prefer  that you sign up for is going to be the commercial   net 30 account which recently changed to a net  60 account that offers a 2% discount if you pay   the full balance in the first 20 days but you can  apply for both of these online you just have to   check the link down in the description of this  video create an account online follow the the   instructions they give you to activate your pay  by invoice option and receive your physical card   to begin shopping in store my next recommendation  is another revolving line of credit that will help   you build business credit while getting equipment  you need for your business and that's the Dale   computers business credit account no matter what  industry you're in guys you'll need technology   to run your business right so Dell is one of the  most widely used Dependable computer electronic   Manufacturers in the world and guess what they'll  extend you a commercial line of credit that will   allow you to order laptops desktops monitors  and many other electronic accessories for your   business plus they report to done in brat Street  and experience now me personally I'm an Apple guy   myself but I would agree that Dell along with LG  has some of the best computers at an affordable   price if you want to apply for the Dell business  line credit you can do so online and you already   know where you can find the link and finally  the last recommendation I have for you guys   which I consider to be an easy approval business  lineer credit is the WX brand Fleet Network now   if you're not familiar with wex it is one of the  largest fuel networks in America now most of your   favorite gas stations like Wawa shell uh 7eleven  Crown Chevron and many many any more are in the   Wex network which means any gas station that you  see displayed on the screen right now has a gas   card that you can apply for which will allow you  to help build business credit while fueling your   vehicles my personal favorite though is the shell  fleet card but I will give you guys a real quick   tip though so when you apply for any of these fuel  cars right normally you're going to see a just a   co-branded car that has like the MasterCard emblem  or Visa card emblem on it right but then there's   the one that doesn't have any co-branded emblem  on it right so I would recommend that you sign up   for a non co-branded one right but let's say you  already established some business credit or your   business has been in business for over 6 months  then you can actually apply for the WX fleet card   itself because that one is accepted at literal  95% of all the gas station in the country just   in case you've never heard of my little trick that  can be used when applying for any non Mastercard   or VISA fuel card let me explain how you can not  only be sure that you aren't providing a personal   guarantee but with less strict underwriting rules  I'll call it the exit application strategy so all   you got to do guys is pick a card fill out the  application in its entirety without submitting   the application all right so you just fill it out  don't skip anything and then at the very end just   back out or hit the x button on the top of the  window to get out of the application so all this   does is within the next one to two business  days you're going to be contacted by a sales   rep whose whole responsibility is to encourage  the completion of incomplete applicants so what   happens is nine times out of 10 they're either  going to offer you a application that allows you   to apply for the Baseline card because they really  want to get you approved right and then also of   course when you're talking to them you can get  any of your questions answered and make sure for   example for you newbies out there that are overly  sensitive and worried about whether or not it's   going to be a PG you can simply ask them hey I  want to do a no PG application and then they may   still ask for your social security number but they  can give you the Comfort right there on the phone   that if they need your social it's going to be  just to verify your identity all right guys those   are my top recommended tier one easy approval  vendors that will help you build business credit   just remember regardless if you have bad credit  or excellent credit do not neglect the importance   of your bottom line foundational accounts like  the ones mentioned in this video try to start by   getting a total of three vendors that reports to  each of the major credit reporting agencies with   no less than three to four consecutive on Time  payments and within 3 to six months you'll be   able to move up to let's say tier 2 and or tier  three and Beyond if you've made it this far it's   safe to say You're really serious about learning  how to raise capital for your business so that   you can scale it beyond your wildest dreams and  build an Empire right if this is true and you're   interested in learning more about how you can  access unlimited Capital without wasting time   and money and properly structure your business to  maximize your funding capacity you should consider   joining green scale Academy to learn more about  green scale Academy just simply go to the website   which is .greenscaleacademy.com if you found  anything even remotely helpful in this video do me   a favor and show me some love by dropping a like  comment and also share this video with like-minded   individuals so the algorithm will pick it up  and show it to more entrepreneurs just like you   and me I hope you enjoy the rest of your morning  afternoon or evening whatever time of the day it   is and as always thank you so much for watching  this video and I'll catch you in the next one