How do I get trade references as a new business?

How do I get trade references as a new business?

How to get a trade reference. You get trade references by doing business with companies that allow you to purchase goods or services and pay for them later. This arrangement is often in the form of “net terms” such as net 30 terms where payment is due in thirty days after the invoice date.

What can I use as a trade reference?


  • Accountant / CPA.
  • Freight, trucking, or local delivery service provider.
  • Landscaping company.
  • Lawyer.
  • Advertising.
  • Payroll services.
  • Marketing service provider.
  • Software developer.

How do I ask for a trade reference?

Often you’ll contact the lender’s credit management department to request a trade reference. If you’re a business owner applying for credit, it’s not a bad idea to check with your vendors or suppliers before you list them as a trade reference on a credit application to ensure you include proper contact information.

Who should I use as a trade reference?

Trade references are generally creditors and suppliers within the industry, as opposed to utilities such as phone and electric service. Primary references, such as suppliers of computer equipment and raw materials, are the most valuable.

Can you add Tradelines to business credit?

You can get tradelines by opening accounts with companies that report to the business credit bureaus. Credit cards, loans,leases, and lines of credit can add financial tradelines to your credit reports. Trade accounts with vendors or suppliers (such as net-30 accounts) can add vendor tradelines to your reports.

Do you need a DUNS number for business credit?

You need a DUNS number because it is required for receiving your business credit report from Dun & Bradstreet and for applying for any grants or cooperatives from the federal government.

How do I add tradelines to my LLC?

How to get trade references for a new business?

To get trade references, new businesses may want to see out companies that offer vendor terms and are open to working with businesses that are less than two years old or don’t have an established business credit record. Here’s a list of easy net 30 vendors to help you get started with your first accounts.

What is a trade reference for business credit?

Business Credit A Trade Reference is a report detailing the payment history between a business customer and its supplier or vendor. Trade references may be supplied verbally, in the form of a trade reference letter, or by reporting payment history to commercial credit reporting agencies such as Dun & Bradstreet, Experian or Equifax.

Will adding trade references affect my Dun&Bradstreet ratings?

Manually adding Trade References, such as partners, lenders, and suppliers, with which you have trade experiences (payment history), may potentially impact your Dun & Bradstreet scores and ratings. Dun & Bradstreet cannot guarantee that Trade References will be added or that accepted Trade References will change or affect scores and ratings.

Why do vendors ask for trade credit references?

Some vendors are willing to accept trade reference letters or will do a verbal verification with your existing suppliers if your business credit scores aren’t strong. Again, this is why they may ask for the names of trade credit references on a credit application.