Net 60 Vendors to Help Your Business Grow

The easiest and fastest way to start building a strong business credit profile is with vendor credit. Typically, this will be a Net 30 account. Still, you will find some Net 60 vendors, and even some invoice payment terms of Net 90 and up.

This is credit directly from the supplier or service provider rather than a financial institution. The net payment terms mean that the account must be paid in full in that amount of time.

So, a Net 30 account will be due in 30 days, and Net 60 vendor accounts need to be paid in full within 60 days.

The Best Net 60 Vendors

There are plenty of Net 60 vendors out there. However, they are not all created equal.

Some of these accounts are easier to get than others. Furthermore, some of them will report payments to the business credit reporting bureaus, helping build good credit history, and thus a strong business credit score.

However, not all of them report. Also, some of them report to your personal credit rather than business credit.

Worse yet, some of them will report negative payment history, but not positive.

Some vendors require an established credit score before they will extend credit. The vendors that will extend credit without a credit check and report payment are often called starter vendors.

Here are some great Net 60 vendors, along with everything you need to know about each one.

Amazon Net 55

Obviously, these payment terms are not Net 60, but Net 55 is pretty close. With an Amazon business account, you can buy virtually anything your business needs.

Then, since the net terms are 55, you have 55 days to pay off the balance. Since you are paying in full, there is no interest, ever.

There is also no annual fee with this Amazon trade credit account.

You get a monthly statement with details such as an invoice, purchase order, and SKU, making it easier to track and record spending.

Another great perk of this business account is the ability to set up separate accounts under your organization’s total credit line.

You can set up a sub-vendor credit account of sorts for various departments, locations, and companies.

On-time (or early) payments on this account will help build your business credit. Amazon reports these payments to Dun & Bradstreet and Equifax. 

Supplied!

This wholesale supplier bases its inventory on what’s currently trending. Most of their customers are boutique shop owners. As such, managing cash flow to buy merchandise may be tricky.

They offer net 60 payment terms. This allows businesses to order what they need and pay later. To access trade credit, a small business has to apply through Rumbleship. There is no credit check. You can even apply during checkout!

Be sure to pay the invoice in full by the due date. Then you will not have to pay interest, fees, or penalties. According to them, most licensed small businesses qualify. 

Faire

This vendor sells products to small businesses and offers a net 60 program as well. They specify that they do not accept online customers. Their net 60 terms are available to brick-and-mortar storefronts only.

Their process for determining a vendor account credit limit varies. But, your payment history and sales are usually a consideration. They may also consider the type of business you own and where it is. Bank information can also come into play.

A small business will pay no interest, fees, or penalties as long as they pay on time.

Abound

Those that order from Abound will find that there are some minimums, but they can be as low as $30.

They do work with online stores as well as brick-and-mortar, but not third-party marketplace sites, like Amazon.com or eBay.com.

There is free shipping for the first 72 hours, and then it is no more than 15% of the total order.

They also offer free returns in select categories for the first time you try out a new brand.

Those that qualify can apply when setting up their account. Any remaining invoice balance after 60 days will be charged to the credit card on file.

There are no fees, interest, or penalties when using net 60 terms.

The Plum Card from American Express

The Plum Card is not a vendor account per se. It is what is known as a corporate card. It has the flexibility of a credit card, as in you can use it anywhere, not just a specific vendor. But, it has net terms like many vendor accounts.

This card wants to give small business owners a way to better manage cash flow by extending payment terms.

The payment terms are Net 60, but if you can pay before the 60 days are up, there are benefits. This American Express card offers unlimited 1.5% cash back on purchases that are paid for within ten days of your statement closing date.

Brex eCommerce Card

This option offers limits that can exceed that of typical corporate cards by up to 20 times. They base approval and credit limits on the financial information of the business. This includes cash available, spending patterns, and more.

The balance has to be paid monthly. So, this is actually Net 30 terms. Similar to the Plum Card, this account is not limited to a specific vendor. 

Brex used to offer Net 60 terms on this credit card to new customers, but that recently ended. Since they still have grandfathered customers with Net 60 payment terms, it may be negotiable after establishing a relationship with them. 

Better yet, there are rewards options. A few of these include:

• Cryptocurrency
• Cash back
• Statement credit
• Gift cards

Get cards for your team members for free! You can set individual spending limits. With this type of business account, managing spending is much easier.

They also offer virtual card options for online spending. Brex integrates with common accounting programs that include Quickbooks, Xero, NetSuite, and Gusto, among others. 

Build Your Business Credit

The steps you take to build a business credit profile are the same ones necessary