NET 30 Business Line of Credit Minimum Requirements
Currently Reporting to Experian Business (subject to change at any time)
Don’t just take our word for it
Who Can Apply for a Net 30 Account?
Any new or existing businesses can apply for our net 30 account. NET 30 accounts provide new and established businesses with a commercial line of credit that can be used to purchase our products using their EIN (Employer Identification Number.)
Net 30 Account FAQs
Net 30 terms not only enable you to pay for Savvy Business products (B2B) with flexibility but also offer the opportunity to bolster your business credit.
When an invoice states “Net 30,” it signifies that payment is expected within thirty (30) days from the invoice date. For example, if an invoice is dated January 1st and specifies “net 30” as the payment terms, the payment must be made on or before January 31st.
The key to successfully managing Net 30 accounts lies in prompt invoice payments. This practice is instrumental in cultivating a robust business credit profile, which in turn opens doors to various financial opportunities.
Paying Net 30 invoices in advance of the due date can significantly contribute to the enhancement of your business credit score. Early payments result in a higher credit score, as per the PayDex scoring methodology by Dun & Bradstreet, a trusted metric used for evaluating a company’s creditworthiness.
Net 30 accounts are reported monthly to commercial credit reporting agencies but we have seen in the past that it may take 2 to 3 payment experiences to report.
Within a net 30 arrangement, purchasers are granted a 30-day window to settle their invoices for the products or services rendered.
Typically, net 30 vendors extend these terms to expedite their receipt of payment while affording buyers the benefit of additional time to complete payment for products they appreciate.
Credit limits are increase over time. We will review the companies purchase history to determine this factor
The default interest rate is 0% with on-time payment history.
The Net 30 Application is examined within 24 to 72hrs, and an initial credit limit is allocated.
Certainly, we highly recommend that you finalize the application. An initial limit may be allocated, which can gradually increase with consistent usage and punctual payments. You may also be approved for our pay now report later account as well!