Business Credit & Vendor Credit Starter Sheet

1. 🏢 Business Structure
Review whether your business has the foundational elements commonly needed before applying.
✅ Active legal business or LLC
✅ Employer Identification Number
✅ Business bank account
✅ Dedicated business phone
✅ Usable business address

2. 🔄 Information Consistency
Check whether your business information matches across your records and applications.
✅ Legal business name
✅ Business address
✅ Phone number
✅ Email address
✅ Website
✅ Bank records
✅ Business registrations

3. 🧱 Business Fundability
Examine whether your business appears active, credible, organized, and prepared.
✅ Professional business email
✅ Basic website or online presence
✅ Organized business records
✅ Stable banking activity
✅ Consistent business identity

4. 🛒 Vendor Credit Strategy
Focus on accounts that support legitimate business purchasing needs.
✅ Choose vendors your business can use
✅ Review fees and purchasing requirements
✅ Make sure the payment terms fit your cash flow
✅ Avoid opening unnecessary accounts

5. 📡 Vendor Reporting Verification
Confirm reporting information before submitting an application.
✅ Does the vendor currently report?
✅ Which business credit bureau receives the information?
✅ How often does the vendor report?
✅ Is a minimum purchase required?
✅ When was the reporting policy last verified?

6. 📅 Payment Management
Create a reliable process for reviewing and paying vendor invoices.
✅ Confirm that the invoice is accurate
✅ Record the payment deadline
✅ Schedule payment before the due date
✅ Save payment confirmations
✅ Protect enough cash for normal business expenses

7. 📊 Account and Payment Tracking
Keep your vendor activity organized in one place.
✅ Vendor name
✅ Account opening date
✅ Credit limit or terms
✅ Invoice amount
✅ Payment due date
✅ Actual payment date
✅ Current balance
✅ Reporting status