Here we go! Trades reporting, home address etc.

[BRBiz]

With a fresh corp I'm going to see how long the trades take to get reported and to whom and also if using a home address prevents me from getting approved for any accounts. I'm trying to control this as much as possible so I will take it slow to try to get solid results. From my own experiences and from others I have worked with I really haven't seen many issues with home addresses and reporting besides some slow reports because of DNB which is recent but others seem to have issues with both.

 

This is what I have done so far.

 

Corp was set up on 1/14

Used home address for business address

Setup 800 number with freedom voice

Business email address set up ( real .com address)

Registered business on all search engines. Really not showing any where yet.

Company is in the construction industry

 

Placed order with Quill.com for about $50 online. Received order confirmation later that day which means it was approved. Item is shipping this week.

 

Placed $50 online order with a Uline.com and also received confirmation email later that day and already received items.

 

Setup Grainger account and obtained the usual $1k limit. They do tend to ask for proof of business more now then they use to which I did have to provide. Placed a $150 order today and will pick up tomorrow at local branch.

 

I have no credit file any where as of right now. I may try Gemplers but I doubt that order will go though and I want to be able to track who reports when and where.

Edited February 24, 2014 by BRBiz

[melin]

Hello,

 

I began my LLC business 02/14 (home business) and received d&b # the next day along with the Iupdate user/pw. Ein setup also the same day with a website and business email (hostgator). Got a business bank account the same week with chase and will get credit union this coming week.

Added the 411, yp, wp, google place, and a couple of search engines. Using a google # for a business number for now but will update all that once I get a phone line with att or verizon...maybe tmobile.

 

The first vendors I started with is:

 

Net 30

 

Uline - $50 limit (purchased $40 online order) - I called to set up net 30 - I asked what the credit limit is. Picked up order.

Grainger - 1k limit (they also asked me for a copy of my business license which I emailed to them and received the net 30 right away - called to verify that it was all setup and they told me the credit limit is 1k.

UPS - net 10 - Did it all online and it instantly gave me an account with a week to pay - Didn't have to call anyone

Reliable - Have not called or asked the credit limit. I simply went online to place a purchase with an option of invoicing and my items are being shipped this week totaling about $40

Quil - Have not called or asked credit limit - Placed online order as well for about $300.00 with an option to invoice - Items in process of being shipped.

 

I think after this I will wait a month to see if it all reported and then see what I should apply for next... any suggestions? I also have no credit file as of yet so I am going to be patient and also take this slow till it shows up =)

 

-Mel

[BRBiz]

Placing a order with Quill and them pulling Experian created a file with a Experian within a few days. No trades reporting obviously but having a file is helpful.

 

Placed a order with a Gemplers and got a email asking to prepay. I responded back that I don't make business purchases unless on terms and told them they could cancel the order if they can't put it though on terms. Order is still in the account so not sure what they will do. Although I expect it to be cancelled.

[melin]

update: I received one order from Quill and they contacted me because they have questions. Do they also ask for a proof of business license? I have not spoke to them just yet because they are closed which I will contact them tomorrow, but i wonder what it is they are asking for. If anyone knows the process from Quill lemme know

[BRBiz]

They may very likely ask for prepayment or possibly just want to verify some business info. It could go either way with them.

[Ron1]

BRBiz,

 

I ordered Gemplers first time. They wanted me a pre-payment. It might be the amount of the order was too small. I placed second order last week. It went through without any problem. I received my order yesterday. I mailed my checks to them on Monday. They were very easy.

 

 

Ron.

[melin]

Quill update: Yep they wanted prepay for the next 2 orders and then I will get a higher limit than the $100 I currently have with them.

[BRBiz]

BRBiz,

 

I ordered Gemplers first time. They wanted me a pre-payment. It might be the amount of the order was too small. I placed second order last week. It went through without any problem. I received my order yesterday. I mailed my checks to them on Monday. They were very easy.

 

 

Ron.

They can be funny. Because they will do that often. I have never placed a order with them without a credit file.

 

I just want to see reporting times and to whom they report with a more slow approach.

[alplouis]

With a fresh corp I'm going to see how long the trades take to get reported and to whom and also if using a home address prevents me from getting approved for any accounts. I'm trying to control this as much as possible so I will take it slow to try to get solid results. From my own experiences and from others I have worked with I really haven't seen many issues with home addresses and reporting besides some slow reports because of DNB which is recent but others seem to have issues with both.

 

This is what I have done so far.

 

Corp was set up on 1/14

Used home address for business address

Setup 800 number with freedom voice

Business email address set up ( real .com address)

Registered business on all search engines. Really not showing any where yet.

Company is in the construction industry

 

Placed order with Quill.com for about $50 online. Received order confirmation later that day which means it was approved. Item is shipping this week.

 

Placed $50 online order with a Uline.com and also received confirmation email later that day and already received items.

 

Setup Grainger account and obtained the usual $1k limit. They do tend to ask for proof of business more now then they use to which I did have to provide. Placed a $150 order today and will pick up tomorrow at local branch.

 

I have no credit file any where as of right now. I may try Gemplers but I doubt that order will go though and I want to be able to track who reports when and where.

Good stuff BRBiz. I too just recently started another Biz just to tract progress.

[alplouis]

Question. How are you guys keeping track of your trade lines?? I know iUpdate is free but how about for Experian??

[BRBiz]

When I see the trades on the free search on Experian or Equifax I will either request a copy of the report due to a denial or just bite the bullet and pay for a service.

[alplouis]

Also, with the new corps, when did you establish a business ban account???

[BRBiz]

Also, with the new corps, when did you establish a business ban account???

 

A few weeks ago.. In my opinion a bank account really doesn't do much if anything to help get approved for most of your standard biz accounts.

[alplouis]

That correct. I asked because it wasn't mentioned. Thanks

 

Sent from my SGH-T999 using Tapatalk

[alplouis]

How far are you trying to build up the corp?? Staples, Office Depot, Amazon, Home Depot, Lowes???

 

Sent from my SGH-T999 using Tapatalk

[KumauX]

BRBiz have you noticed that corps with a construction or real estate SIC or NAIC code are not "fundable"?

 

These are considered high risk industries and receive the greatest scrutiny when applying to actual cash credit.

[BRBiz]

How far are you trying to build up the corp?? Staples, Office Depot, Amazon, Home Depot, Lowes???

Sent from my SGH-T999 using Tapatalk

Not sure.. I just want to see what reports and where and what factors help or hurt. I have been though building personally several times just for my companies and dozens helping others so not really doing it for personal reasons. But it seems things are a little inconsistent lately.

[BRBiz]

BRBiz have you noticed that corps with a construction or real estate SIC or NAIC code are not "fundable"?

 

These are considered high risk industries and receive the greatest scrutiny when applying to actual cash credit.

 

Yes I know its high risk. I purposely used it for that reason and also the company will be used within that industry.

[alplouis]

BRBiz

 

At what point will you apply for office Depot/ Staples?

[BRBiz]

Probably give Office Depot about 3 or 4 months and what till I have some trades reporting. They both aren't as easy as they use to be.

[stroked89coupe]

Cool testing. Will try to follow along.

[alplouis]

BRBiz

 

Any update?

 

Sent from my SGH-T999 using Tapatalk

[BRBiz]

Not really. I will be paying those bills this week and will wait to see what reports. One thing I did do just for the heck of it is I tried registering for a Duns number though the government DNB site and guess what nothing happened no number or anything and almost a week later. Not sure what that means. I never apply for a duns number but was just curious since many do it that way if it works and I guess this time it didn't.

 

Although I will wait till the last few days to pay the Grainger bill because I believe they report even before you pay your bill so I want to confirm that if possible.

Edited March 12, 2014 by BRBiz

[alplouis]

Awesome. Will you be applying for other Net 30's?

 

Sent from my SGH-T999 using Tapatalk

[BRBiz]

Awesome. Will you be applying for other Net 30's?

 

Sent from my SGH-T999 using Tapatalk

Yes I will but I'm trying to let the first couple report to see how long it takes an to whom they are reporting.

 

DNB did create the file as of yesterday. So they are having some issues getting things done over their lately as most of us know. It usually only takes a day though the government site and in this case it took about 5 or 6 days.