Day: September 5, 2020

Facebook's Rittenhouse Mistake

The speech blackout for his defense threatens due process.

The Jobs of August

The economy creates another 1.4 million jobs, defying the pessimists.

The Best Credit Card Processing Companies (In-Depth Review)

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There are many touchpoints along the customer journey. The transaction is of course one of the most important, if not the most important.

So, the way in which you accept payments matters for both you and the customer. You need to have the right software and/or hardware in place to make sure transactions are simple and secure for both parties. 

Not only that, as a business owner you need to know that you’re not shelling out cash on inferior services or unnecessary additional fees.

Therefore, this post will cover everything you need to know about choosing the right credit card processing company. Plus, I’ll introduce my top picks for a wide range of businesses of different sizes and with different needs.

The Top 10 Credit Card Processing Companies

  1. Square
  2. PayPal
  3. FIS
  4. Stripe
  5. Payline Data
  6. Fiserv
  7. BitPay
  8. Adyen
  9. Dharma Merchant Services
  10. Fattmerchant

How to Choose the Best Credit Card Processing Company for You

Here are some key elements to consider when choosing the right credit card processing company for you:

1. Fees

Look at the payment terms and fees carefully. Different companies offer different pricing models and things can start to get a little complex.

Firstly, there are interchange fees, which is the percentage taken by the company on every transaction made. Full-service credit card processing companies also take a monthly fee. There may also be additional costs, such as setup or monthly minimum fees.

2. Accepted Payment Methods

Nowadays, you need a payment processing company that accepts more than just debit and credit cards. Digital wallets like PayPal, Google Pay or Apple Pay have become extremely popular. 

3. Customer Experience

When shopping, customers want the entire experience to be quick and easy. This is particularly important in e-commerce where the checkout process needs to be streamlined. 

In fact, a long and complicated checkout process is the number three reason why consumers abandon their carts in 2020.

It’s also vital that the payment gateway is secure because obviously we’re dealing with sensitive data here. So, look for elements such as PCI compliance and encryption.

4. User Experience

Of course, you or your staff are going to be the ones actually using these systems. Thus, the software, apps and/or hardware need to be user-friendly.

Furthermore, with tech, there’s likely to be a glitch or an issue at some point. This means that you need a credit card processing company that offers superior customer support. The reason being, the longer your payment processor is down, the more sales you lose.

Now you know what you need to consider when researching credit card processing companies, let’s take a look at how they work.

The Different Types of Credit Card Processing Company

There are two main types of credit card processing company. Here’s the 411:

Credit Card Processor

A credit card processor is the go-between that takes care of transactions. The processor takes the funds from the customer’s account and deposits them in your merchant account. It also ensures that the transaction information is correct, the customer has sufficient funds and notifies the payment gateway that the transaction was successful.

Full-Service Credit Card Processor & Merchant Account

Full-service providers do the same as credit card processors but also provide a merchant account, meaning you don’t need an additional merchant account with a bank. These providers tend to offer lower interchange fees but also charge a monthly fee and additional fees, such as the above-mentioned setup fees and so on.

Depending on the size of your operation and the volume of payments you receive, you’ll have to calculate which type of credit card processing company is going to keep costs low overall. Look for companies that are transparent and straightforward about the way in which they operate and take fees.

#1 – Square — The Best for Ease of Use

Square is a hugely popular, low-fee credit card processing company for online and brick-and-mortar stores.

Its POS app is rich in features and easy-to-use. Square is also known for providing an exceptional, frictionless range of POS systems:

Bonus: you can get the software and Square Reader for free.

The beauty of Square truly lies in its simplicity. The company offers a transparent, straightforward pricing model: 2.6% + 10¢ for every tap (mobile payment), dip (chip card) or swipe (magstripe card) on the POS and 2.9% + 30¢ for e-commerce transactions.

Other benefits include active fraud prevention, end-to-end encryption, a quick sign-up process and live phone support.

Essentially, Square is an easy-to-use all-rounder that would be an excellent choice for a wide range of businesses.

#2 – PayPal Commerce Platform Review — The Best for Individuals & Low-Volume Sellers

You’re no doubt familiar with PayPal (unless you’ve been living under a rock), but you may not be as familiar with its commerce platform.

With the PayPal Commerce Platform you can take payments online, in-store, on-the-go with an iZettle card reader, by QR code, over the phone and via social shopping links:

If you’re a solopreneur or small business just starting out then the platform is a fantastic choice for you. PayPal offers a flat-rate system where you only pay for the processing services you use.

The other great thing about PayPal is that it’s a highly recognizable and trusted brand. Therefore, advertising the fact that you accept PayPal payments could lead to more conversions.

Overall, the PayPal Commerce Platform is a secure, user-friendly and low-cost solution for beginners, individuals and low-volume sellers.

#3 – FIS — The Best for Small Businesses

FIS (formerly Worldpay) is a global banking software provider that offers payment processing solutions for large enterprises, small businesses and e-commerce stores.

However, this company puts most of its focus on small businesses, serving a range of industries including grocery, retail, restaurants, personal and professional services: 

And this is where FIS really shines as they work directly with small businesses to give them competitive terms and rates. You must contact FIS for a quote.

FIS also stands out as a great provider because of their superior 24/7/365 customer support. Furthermore, their software integrates with 1000+ POS systems which is great if you don’t wish to purchase one of their smart terminals.

FIS is the choice for you if you own a small business and want a customizable solution.

#4 – Stripe — The Best for Internet Businesses

Stripe was designed with a range of online businesses in mind, including e-commerce, mobile commerce, subscription services, marketplaces and other platforms. So, if you’re primarily a web-based business then Stripe is the choice for you.

What also makes it the best choice for online businesses is that the company provides tons of pre-built integrations and ready-made checkout forms for major e-commerce platforms, subscription services and the like:

There’s a simple pay-as-you-go pricing model of 2.9% + 30¢ with no additional monthly or setup fees. 

Stripe is also one of the most technologically-advanced solutions out there with its dedication to improving the platform and machine learning models for intelligent optimizations.

If you’re looking for a competitively-priced credit card processor that will integrate easily with your online business, choose Stripe.

#5 – Payline Data — The Best for High-Risk Merchants

Payline Data offers in-person, online and mobile payment solutions for companies of varying sizes. 

It’s the best option for high-risk merchants that struggle to get approved for accounts elsewhere. Thanks to its partnerships with major banks and premiere support team, Payline Data is able to simplify high-risk account management.

Payline Data’s pricing model is a little more complex than other options with setup, monthly and other additional fees involved. Take a look:

However, you can work out exactly what your monthly costs will be using their payment calculator tool.

Another advantage of using Payline Data is its integrations with major POS, shopping cart and accounting software providers, along with developer APIs for a customizable solution.

As long as you consider the costs carefully, this could be the simplest and cheapest option for those looking for a high-risk merchant account.

#6 – Fiserv — The Best for High-Volume Retailers

This company provides a convenient, secure and reliable payment processing service as well as end-to-end accounting services, if you require them.

What makes Fiserv the best choice for high-volume retailers is the fact that you can negotiate favorable interchange-plus pricing and terms. Or you can opt for flat-rate pricing via its Clover platform.

Having recently merged with international payment processing leader First Data, Fiserv is also a great option for those who operate globally. 

Seven out of the ten largest digital merchants trust Fiserv. Plus, retailers can accept a range of payment methods that are popular around the world, such as Alipay.

Fiserv is the right choice for more experienced, high-volume and global retailers.

#7 – BitPay — The Best for Accepting Crypto

Though technically not a credit card processing company, BitPay is a forward-thinking payment processing company for those who want to add crypto into the mix.

Owned by Shark Tank powerhouse, Mark Cuban, BitPay allows you to accept a range of cryptocurrencies online, via email and in-store. 

The way it works is simple – the customer gets an invoice, they pay in crypto at a locked-in exchange rate, BitPay converts the payment into your local currency and you receive the payment in your account the next day:

Due to the nature of crypto, you can accept payments from around the globe without having to worry about fraudulent purchases. What’s more, BitPay promises a flat rate fee of 1% and no hidden fees. 

So, if you’d like to expand your reach and gain access to the crypto market, BitPay is for you.

#8 – Adyen — The Best for Growing Enterprises

Adyen isn’t for newbies. It counts the likes of Uber, Virgin Hotels, Hunter and Spotify among its customers. So, it’s perfect for growing enterprises that are ready to take their business to the next level. 

You can benefit from transaction optimization to help you get the most revenue from your sales, as well as in-depth reporting on the platform to better understand your customers and aid growth:

Fees vary depending on the payment method used. Yet, Adyen provides a transparent list of all fees for each payment method on their site.

Other benefits include data-driven security, fraud prevention and access to a dedicated team of payment specialists who will provide you with expert advice.

Overall, if you’re focused on growth, Adyen is the perfect partner.

#9 – Dharma Merchant Services — The Best for Quick Service Payments

Dharma is a low-fee credit card processor that specializes in retail and quick service transactions. In other words, if you own a restaurant, bar, fast food joint or other quick service business then this is a great choice for you.

The company offers a low fee of 0.15% and $0.07 per transaction above interchange for storefronts and restaurants:

Plus, the virtual terminal and app are free. The e-commerce rate is slightly higher at 0.20% + $0.10.

With Dharma, you also benefit from exceptional customer service. If you’re new to credit card processing you can get a free consultation and ask all of the questions you need to. Plus, they offer 24/7 tech support.

Choose Dharma if you own a quick service business and need support along the way.

#10 – Fattmerchant — The Best for Professional Services

Fattmerchant provides a range of smart payment processing solutions, but really nails it when it comes to professional service providers.

The reason being, the platform offers the ability to send invoices and retrieve recurring payments quickly and easily. There’s also the option to create payment links and even buttons to take payments for subscription services.

The platform has features which will speed up your business processes through automation, e.g. automated payment reminders:

Fattmerchant offers a different pricing model to many other credit card processing companies. There’s a flat rate subscription fee starting at $99 but 0% markup on interchange and no pesky additional fees.

Essentially, Fattmerchant’s software is a fantastic choice for a range of businesses, but especially for those in professional services or that take recurring payments.

Summing Up

Naturally, there are several criteria to consider when choosing a credit card processing company. Often it will depend on the type of business you run and the volume of payments you take.

Furthermore, some options are better suited to smaller businesses or beginners while others provide more advanced solutions for experienced, higher-volume companies.

Above all, you want a company that offers transparency, security, strong customer support, great software and hardware and the right pricing model to suit your needs.

Now it’s over to you to explore these top providers further and make the right choice.

The post The Best Credit Card Processing Companies (In-Depth Review) appeared first on Neil Patel.

Top 10 Carolina Hurricanes Podcasts You Must Follow in 2020

Top 10 Carolina Hurricanes Podcasts Contents [show] ⋅About this list & ranking Carolina Hurricanes Podcasts CanesCast Canes Country | For Carolina Hurricanes Fans Locked On Hurricanes | Daily Podcast On The Carolina Hurricanes Redvolution Rampage Canes Corner Podcast Digging In With Tripp Siren Sounder | A Canes Podcast The Florida Caniac Podcast Canes Bull Submit Blog Do […]

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Equity Crowdfunding: Recession Investing is a Legitimate Option

The long predicted impending recession is here.  Now it’s time to figure out how to survive.  Equity crowdfunding recession investing could be a viable option.

How Equity Crowdfunding Recession Investing Could Be Your Ticket Out

I am sure you are thinking, “Your ticket out of what?” The answer is, “Your ticket out of the recession.”  Everyone hopes to escape unharmed, and few will. Even if you get out with a few bumps and bruises, equity crowdfunding recession investing can offer just enough padding to help you avoid any broken bones.  

The number of US banks has been decreasing slowly for a quarter of a century, as is seen from consolidation in the market.  Also, deregulation in the 1990s decreased barriers to interstate banking. See:

Too many assets in larger financial institutions is a problem for local business owners. Big banks are less likely to make small loans. During recessions, financial institutions end up being more cautious with financing.

In short, recessions are a fact of life, and when that time comes, as it now had, banks hold on to their money much more tightly.  This is why equity crowdfunding recession investing is not only a legitimate option, but maybe even a necessary option.

Hit the jackpot and weather any recession with our best webinar and its trustworthy list of seven vendors who can help you build business credit. 

Why Crowdfunding?

Crowdfunding has become all the rage and it’s no wonder. It’s pretty much free money that you don’t have to repay, and you can get these funds without having to give up any ownership or control over your startup company. In addition, there is less hassle than with traditional financing.

Real Estate crowdfunding is different from startup crowdfunding.  It’s the same general idea, but there are a few tweaks for the industry.  You need to know more about real estate investing first however, before you can start to think about equity crowdfunding recession investing. 

Types of Real Estate Investments

There are a couple of different types of real estate investments.  Which one works best for you will be an individual decision, but when it comes to equity crowdfunding recession investing, here is what you need to know about each. 

Residential Real Estate

There are two types of residential real estate investments. You can invest in property to re-sell for a profit, or you can invest in rental property. 

Property for resale typically refers to house flipping, which is tricky. You have to find a home in a location that will sell. There has to be a balance between the work that needs doing and the resale price. A lot of things have to fall into place. Still, many people make a successful living flipping houses. 

Rental investments include either single family homes, apartment buildings, or duplexes. Improvements may be necessary depending on the situation. It is important to be sure any improvements actually add value however. There is a point where you will not be able to get the cost of improvements back through rental income. 

Commercial Real Estate

These are commercial real estate investors that purchase property for commercial use. These are the people building shopping centers, strip malls, and buildings for businesses. Most often they are companies rather than individuals.

The companies still need funding for their real estate projects. Thanks to the JOBS Act of 2012, they have a new way of getting that funding. It not only helps them, but it also lets individuals enjoy the benefits of commercial real estate investing. It may not sound like much, but previous to this it was very difficult for individuals to break into commercial real estate investing.  The problem was the high cost. What is this awesome new dream come true you ask? That would be equity crowdfunding for real estate investors. 

How to Choose Your Real Estate Investments

Hit the jackpot and weather any recession with our best webinar and its trustworthy list of seven vendors who can help you build business credit. 

Location Not Only Matters, it is VITAL

You have to consider the location of the property when making your investment decision. Flipping a house that is in an area no one is buying in is not a good idea. Even the most amazing house in the world won’t sell if it is in a bad area.  Locations high in crime, in the floodplain, or some other less than desirable area are not good ideas. Even if it does sell, the price will likely have to be so low you see a loss.

Be Consistent

To make real estate investing work for you, find your niche and stick to it. If you are going to flip houses, flip houses. If you are going to be a landlord, do that. Commercial property investment your thing? Stick with it. 

It is almost always impossible to do everything, and it is impossible to do everything well. Pick one area of real estate investment and stick to it. 

Know Your Options

While equity crowdfunding recession investing is a legitimate option, you can’t know if it is right for you without knowing all the options.

What are your funding options? You can self-fund, which isn’t possible for most. In the past, the only other option was financing. There are plenty of real estate lending products available from various sources. 

Thanks to the JOBS ACT of 2012 however, there is now a new possibility on the list. That is equity crowdfunding recession investing for real estate. 

How Does Equity Crowdfunding Recession Investing for Real Estate Work?

To understand how this funding option works, you need to understand how crowdfunding itself works. With the JOBS Act of 2012, small businesses gained relief from a lot of requirements in place by the SEC. These requirements held many businesses back. 

The official title is “Jump Start Our Businesses Act of 2012.” By design, it relieves small businesses of many of the strict requirements put forth by the SEC. President Obama signed it on April 5, 2012. Equity Crowdfunding Recession Investing Credit Suite2

It releases some restrictions on raising capital, including allowing small businesses to go public with less than $1,000,000 in annual revenue. It also increases the validity of crowdfunding for both startup and real estate investing.

 The Act allows for open investing options that do not require investors to register with the SEC. This is true as long as they meet certain guidelines. Thus, crowdfunding platforms were born. For entrepreneurs looking to “kick start” their business idea, you now see sites such as Kickstarter and Indiegogo. 

These sites allow individuals to post a business idea and accept investments.  These can go as low as $5 and as high as, well, the sky ‘s the limit. In return, investors receive some sort of reward. It may be a some of the profits, a free product, or any number of things. It is often a reflection of the level of investment. Today there are tons of crowdfunding platforms all over the internet. 

Equity Crowdfunding Recession Investing for Real Estate

Though similar to crowdfunding for small businesses, it isn’t exactly the same. There isn’t a need for perks or rewards for investing usually.  Additionally, there isn’t usually a lot of campaigning. Most of those that list on real estate crowdfunding sites are commercial real estate businesses. They are seeking funding for their projects.  Investors choose the ones that they feel will offer the greatest returns for their budget.

Anyone can invest in a commercial real estate portfolio.  It is similar to investing in a stock market portfolio. Then they can enjoy the returns without actually buying an entire piece of commercial property. 

This is how commercial real estate investors can raise equity and avoid a loan. At the same time, individuals can enjoy the benefits of commercial real estate investing for as little as $500. 

Top Sites to Find Equity Crowdfunding Recession Investing for Real Estate

There are many sites that offer equity crowdfunding for real estate investors, even in a recession. These are just a few. It will take some research to figure out which one will work best. When deciding, be sure to take into account ease of use and the lowest possible investment level.  If they do not offer an investment option that will fit your budget, there is no need to waste your time.  


 The options and training with Crowdstreet are what make it top notch. You can choose from portfolio or direct investing.  It is easy to make decisions with confidence because they offer a lot of training material for investors.

 The lowest investment for portfolios are $25,000, but the minimum for direct investing varies.  


The best part about RealCrowd is that you can browse offerings before you sign up. The information includes minimum investment and average returns. This allows for a lot of the decision making to happen before you even log in. You can know before you even create an account if this site is for you, or not. 


Fundrise is a great starter site to break into the world of equity crowdfunding for real estate investors. The number one advantage of this site is that the minimum investment is $500. They also have lower fees than many other sites. 

 There are a lot more sites that have a wide range of options and advantages. It would definitely be worth it to take some time to look at them and see which one will work best for you. This is true whether you are a company seeking funds or an individual looking to invest. 

Remember, individual crowdfunding sites can change terms and details without notice.  Be sure to go to the site directly for the most up-to-the-minute information.

Equity Crowdfunding Recession Investing Offers Plenty of Benefits

On the property owner’s side, there are many benefits. The top one is the ability to raise funds without debt. This is the same reason crowdfunding is a popular way to fund a small business startup. It isn’t free money. There are fees and profit sharing involved, but it is often substantially cheaper than debt.

For individual investors, it is a great alternative option to stock market investing. The returns are typically larger and more consistent. The minimum investment can be very manageable. Those sites that have a higher minimum investment are options for investors looking to cash out current investments or retirement funds. They can try out a new option. 

More Equity Crowdfunding Recession Investing Tips

Be Honest

Always be honest. Lying and cheating never pays. Much of real estate investing depends on referrals. You will not get referrals if you do not practice integrity in your business. 

 If you are a landlord, be a good one. If you build commercial property, don’t cut corners. The same thing applies if you are flipping houses. Do not accept bad work to save money. Make sure your contractors do the best work they can so that buyers, investors, and renters get what they pay for. 

Keep Up with the Industry

Ignorance is not an excuse. Continue to educate yourself on real estate market trends, housing trends, and more. 

Hit the jackpot and weather any recession with our best webinar and its trustworthy list of seven vendors who can help you build business credit. 

Do Market Research

Speaking of the market, you need to know it inside and out at all times. You should be intimate with it. Read articles, watch videos, and do whatever you can to keep up with  your corner of the market. 

A Legitimate Option

Equity crowdfunding recession investing can open up a whole new world for many. Pretty much anyone can earn a nice passive income. Real estate investors have an alternative funding option, and it is often more manageable than financing. 

If there is a gap, there are plenty of other options still available. Many lenders offer real estate investment loan products with credit score requirements as low as 600. Interest rates vary, and due to the nature of the industry, terms are typically 13 months to two years. 

 If you are looking for financing to supplement your equity crowdfunding recession investing, be sure to shop around, the same as you would shop around for a crowdfunding site. Do your research so you can choose the best option or combination of options for your needs.

The post Equity Crowdfunding: Recession Investing is a Legitimate Option appeared first on Credit Suite.

The Best Credit Card Processing Companies (In-Depth Review)

Disclosure: This content is reader-supported, which means if you click on some of our links that we may earn a commission. There are many touchpoints along the customer journey. The transaction is of course one of the most important, if not the most important. So, the way in which you accept payments matters for both …

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5 reasons to subscribe to Pro

We want to help millions of people achieve their goals by building a digital presence, and so have designed for just this. Here are 5 reasons you should subscribe to Pro today. 1. … The post 5 reasons to subscribe to Pro appeared first on blog.

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How Hard is it to Establish Business Credit in a Recession?

Do you know? How hard is it to Establish Business Credit in a Recession?

It’s a brilliant question. How hard is it to establish business credit in a recession? Is business credit building impossible? Or is it just some nightmare? And what happens in an economic downturn?

I assure you it is not only possible, it is downright sure-fire. And business credit is all but recession-proof!

Business credit is credit in a business’s name. It doesn’t link to an owner’s personal credit, not even if the owner is a sole proprietor and the solitary employee of the corporation. Because of this, an entrepreneur’s business and consumer credit scores can be very different.

The Advantages

Because business credit is distinct from individual, it helps to safeguard a business owner’s personal assets, in the event of court action or business insolvency. Also, with two separate credit scores, an entrepreneur can get two separate cards from the same merchant.

This effectively doubles buying power.

Another benefit is that even startups can do this. Visiting a bank for a business loan can be a formula for frustration. But building small business credit, when done right, is a plan for success.

Individual credit scores are dependent on payments but also additional considerations like credit usage percentages. But for small business credit, the scores actually merely depend on whether a corporation pays its invoices timely.

How Hard is it to Establish Business Credit in a Recession: The Process

Establishing business credit is a process, and it does not occur automatically. A corporation will need to proactively work to build business credit. Nonetheless, it can be done readily and quickly, and it is much swifter than developing individual credit scores.

Merchants are a big component of this process.

Doing the steps out of sequence will cause repetitive rejections. No one can start at the top with company credit. For instance, you can’t start with store or cash credit from your bank. If you do you’ll get a rejection 100% of the time.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN. Get money even in a recession!

How Hard is it to Establish Business Credit in a Recession: Company Fundability

A business has to be authentic to lenders and vendors. As a result, a company will need a professional-looking website and email address, with website hosting from a company like GoDaddy. Additionally business phone and fax numbers need to have a listing on

At the same time the company telephone number should be toll-free (800 exchange or the like).

A company will also need a bank account dedicated strictly to it, and it must have every one of the licenses essential for running. These licenses all must be in the accurate, accurate name of the company, with the same business address and phone numbers.

Keep in mind that this means not just state licenses, but potentially also city licenses.

How Hard is it to Establish Business Credit in a Recession: Dealing with the Internal Revenue Service

Visit the IRS web site and obtain an EIN for the small business. They’re free of charge. Select a business entity like corporation, LLC, etc.

A small business can start off as a sole proprietor. But will most likely wish to switch to a form of corporation or partnership to decrease risk and maximize tax benefits.

A business entity will matter when it concerns tax obligations and liability in the event of litigation. A sole proprietorship means the owner is it when it comes to liability and tax obligations. No one else is responsible.

If you run a company as a sole proprietor, then at least be sure to file for a DBA (‘doing business as’) status.

If you do not, then your personal name is the same as the small business name. Therefore, you can find yourself being directly responsible for all company debts.

And also, per the IRS, with this structure there is a 1 in 7 probability of an IRS audit. There is a 1 in 50 chance for corporations! Prevent confusion and drastically lower the odds of an Internal Revenue Service audit as well.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN. Get money even in a recession!

How Hard is it to Establish Business Credit in a Recession: Starting off the Business Credit Reporting Process

Begin at the D&B website and obtain a cost-free DUNS number. A DUNS number is how D&B gets a corporation into their system, to produce a PAYDEX score. If there is no DUNS number, then there is no record and no PAYDEX score.

Once in D&B’s system, search Equifax and Experian’s websites for the company. You can do this at If there is a record with them, check it for accuracy and completeness.

If there are no records with them, go to the next step in the process. By doing this, Experian and Equifax will have something to report on.

Trade Lines

First you must build trade lines that report. This is also known as vendor accounts. Then you’ll have an established credit profile, and you’ll get a business credit score.

And with an established business credit profile and score you can start obtaining revolving store and cash credit.

These kinds of accounts have the tendency to be for the things bought all the time, like shipping boxes, outdoor work wear, ink and toner, and office furniture.

But first of all, what is trade credit? These trade lines are credit issuers who will give you initial credit when you have none now. Terms are oftentimes Net 30, instead of revolving.

Hence if you get approval for $1,000 in vendor credit and use all of it, you will need to pay that money back in a set term, like within 30 days on a Net 30 account.


Net 30 accounts must be paid in full within 30 days. 60 accounts need to be paid in full within 60 days. Compared to with revolving accounts, you have a set time when you must pay back what you borrowed or the credit you made use of.

To begin your business credit profile the right way, you should get approval for vendor accounts that report to the business credit reporting agencies. As soon as that’s done, you can then make use of the credit.

Then repay what you used, and the account is on report to Dun & Bradstreet, Experian, or Equifax.

Not every vendor can help like true starter credit can. These are vendors that will grant an approval with very little effort. You also want them to be reporting to one or more of the big three CRAs: Dun & Bradstreet, Equifax, and Experian.

And Continue…

So get 3 of these to move onto the next step, which is revolving store credit.

1. Uline Shipping Supplies

Uline Shipping Supplies is a true starter vendor. Find them online at They offer shipping, packing, and industrial supplies, and they report to D&B and Experian.

You need to have a DUNS number. They will ask for 2 references and a bank reference. The initial few orders may need to be paid in advance to initially get approval for Net 30 terms. Also, you may need to buy some things you do not need.

2. Crown Office Supplies

Crown Office Supplies is another true starter vendor. Find them online at

They sell a variety of office supplies and take helping clients seriously. They say, “just starting your business, or maybe have an existing business, but you have a question regarding office supplies… we are here to help!” And they report to Dun and Bradstreet, Experian, and Equifax.

There is a $99.00 yearly fee, though they do report that fee to the business credit reporting agencies. For other purchases to report, the purchase must be at least $30.00. Terms are Net 30.

3. Grainger Industrial Supply

Grainger Industrial Supply is also a true starter vendor. Find them online at They sell safety equipment, plumbing supplies, and more, and they report to D&B. You will need a business license, EIN, and a DUNS number.

For less than $1000 credit limit they will approve virtually anybody with a business license.

Accounts That Don’t Report

Non-Reporting Trade Accounts can also be helpful. While you do want trade accounts to report to at the very least one of the CRAs, a trade account which does not report can yet be of some worth. You can always ask non-reporting accounts for trade references.

Also credit accounts of any sort will help you to better even out business expenditures, consequently making financial planning simpler. These are companies like PayPal Credit, T-Mobile, and Best Buy.

Revolving Store Credit

Once there are 3 or more vendor trade accounts reporting to at least one of the CRAs move to revolving store credit.

Use the corporation’s EIN on these credit applications.

Fleet Credit

Are there more accounts reporting? Then progress to fleet credit. These are companies like BP and Conoco. Use this credit to buy, repair, and take care of vehicles. Make certain to apply using the business’s EIN.

Cash Credit

Have you been sensibly managing the credit you’ve gotten up to this point? Then move onto more universal cash credit. These are service providers such as Visa and MasterCard. Keep your SSN off these applications; use your EIN instead.

These are typically MasterCard credit cards. If you have more trade accounts reporting, then these are doable.

Learn more here and get started toward building business credit attached to your company’s EIN and not your SSN. Get money even in a recession!

How Hard is it to Establish Business Credit in a Recession: Monitor Your Business Credit

Know what is happening with your credit. Make sure it is being reported and fix any inaccuracies ASAP. Get in the practice of checking credit reports. Dig into the specifics, not just the scores.

We can help you monitor business credit at Experian and D&B for $90 less. Update the relevant information if there are errors or the details is incomplete.

Disputing Mistakes

So, what’s all this monitoring for? It’s to challenge any mistakes in your records. Errors in your credit report(s) can be taken care of. But the CRAs typically want you to dispute in a particular way.

Disputing credit report inaccuracies usually means you send a paper letter with copies of any proof of payment with it. These are documents like receipts and cancelled checks. Never mail the originals. Always send copies and retain the originals.

Disputing credit report inaccuracies also means you specifically detail any charges you challenge. Make your dispute letter as clear as possible. Be specific about the issues with your report. Use certified mail so that you will have proof that you mailed in your dispute.

How Hard is it to Establish Business Credit in a Recession: A Word about Business Credit Building

So always use credit sensibly! Don’t borrow beyond what you can pay off. Monitor balances and deadlines for payments. Paying on time and fully will do more to boost business credit scores than virtually anything else.

Establishing corporate credit pays. Good business credit scores help a company get loans. Your credit issuer knows the corporation can pay its financial obligations.

They know the corporation is authentic. And the business’s EIN connects to high scores, and credit issuers won’t feel the need to require a personal guarantee.

How Hard is it to Establish Business Credit in a Recession: Takeaway

Business credit is an asset which can help your small business for years to come.

Obtaining merchant accounts for business credit means that you are on your way to getting good business credit.

These three should conveniently get you going. How hard is it to establish business credit in a recession? Pretty easy! So go out there and clobber it! Learn more here and get started toward establishing business credit.

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