IDEA: Be ready: have your credit references package ready to go before applying for vendor credit.

Create an extensive company credit reference handout to attach to credit applications.  Include the legal name of your company, address, telephone, fax, website, owner’s information, bank contacts and telephone numbers, 7 to 10 trade references (whom you have personally spoken with and know they will be favorable in their comments), a signed current company W9 and a list of products your company makes and sells. Prepare this group of documents before you are asked. Keep it current by reviewing the 7-10 credit reference to keep them relevant for today.  With these docs ready, complete the vendor’s credit application and attach this to the back when you quickly respond. Please notice I did NOT suggest giving any financial statements out at this point.  You are trying to impress the person giving credit by giving him or her more than they may have asked for in order for them to overlook the absence of financial statements.

Is there anything we missed?

How would you improve the idea above ?

OR Log in With

IDEA OF THE DAY
SIGN UP FOR THE "Best ideas" NEWSLETTER

Get the best new business ideas sent to you daily.

SIGN UP
SUBMIT AN IDEA

Here’s an opportunity to contribute your best idea to boost a company’s bottom line, and maybe qualify for a weekly award.

saved article

My Bookmark Category


  • Great Profit Ideas