Uline has been a powerhouse in the shipping and packing supply industry since the 1980s. Today, thousands of companies still rely on them for all their shipping needs, as well as warehouse equipment, janitorial goods, and safety products.
Like many business tradelines, Uline offers a Net 30 account to make cash flow management easier for their business customers. If you are just starting to build your business credit or looking for a convenient way to boost your current score, options like the Uline Net 30 account is an excellent way to realistically achieve these goals.
In this review, we’ll be evaluating the pros and cons of a Uline Net 30 account so you can decide if it’s the right fit for your business.
Our Verdict on Uline’s Net 30 Account
Uline is an industrial supplier known for its extensive stock of shipping and packing supplies. They sell everything from boxes and poly bags to industrial tape and stretch wraps, along with warehouse equipment, safety products, janitorial supplies, and more.
That said, we consider Uline one of the most vital suppliers in a wide range of industries, especially e-commerce and manufacturing. With their Uline Net 30 account, businesses of all sizes can easily top up on their essentials with minimal cash flow constraints.
Furthermore, Uline reports to a major business credit bureau: Dun & Bradstreet, according to Nav Business. If you make on-time payments and keep your account healthy, Uline can help you build your business credit history and open more opportunities for financing.
Uline’s Net 30 Account Pros
You Can Build Business Credit
Opening a vendor credit account with a company that reports to business credit bureaus can lead to a huge boost in your business credit score. Companies that help build business credit like Uline, Creative Analytics, Wise Business Plan, Crown Office Supplies, Summa Office Supplies, Office Garner, Strategic Network Solutions, Home Depot, HD Supply, and other big names report to one or more credit reporting bureaus, such as Experian Business, D&B, and Equifax Business.
Of course, you have to make on-time payments to build good credit. Uline makes this easier through their Net 30 account, a credit term that allows you to settle your payment 30 days after the date of the invoice. For a small business, having an extra 30 days to pay makes a huge difference since it allows you to conserve your cash flow for immediate needs or other opportunities.
On a related note, Uline offers a huge selection of business supplies, such as barcode labels, food service equipment, facilities maintenance supplies, and even storage solutions. With this kind of variety, you don’t have to open net 30 accounts with multiple companies to get everything you need–you can keep your payment terms organized with only one business credit account.
The Process is Easy All Throughout
Qualifying for a Uline business credit account is highly doable for most businesses. This Net 30 vendor will ask for your bank and trade credit references, which will help them assess how responsible you are as a borrower (similar to applying for other types of business loans).
The additional requirements may vary from business to business. In general, however, you may have to present documents that reflect your creditworthiness, such as your business credit history, payment history, and bank statements. Of course, you also have to provide basic business information, such as contact details, tax ID, business type, etc.
Now, what about ordering? You can make a catalog request so you can see detailed descriptions of products you want to order. As we’ve said before, the Uline catalog is vast, so you will probably find everything you need unless you require specialized items.
To establish a Uline business credit account, you simply have to select “Invoice Me” during the checkout process if you are a new customer. Once you are approved, you need to agree to the payment terms and conditions, which will include late fees and penalties if you miss a payment.
After that, making payments is easy. Uline accepts major credit cards, such as Visa, MasterCard, Discover Card, and American Express. You can also make payments through cash, money orders, checks, wire transfers, and electronic fund transfers.
Uline’s Net 30 Account Cons
Credit Limits and Minimum Orders Can Vary
Uline currently doesn’t have a set credit limit or minimum order for their net 30 accounts. However, most businesses with a net 30 account start with $1,000 as their credit limit, but this may depend on creditworthiness and other financial factors.
The limit can move upwards depending on your payment history, just like a credit card. As you make on-time payments, your vendor credit may increase. In contrast, your limit may decrease or you may be required to settle all balances if you miss a payment.
As for the minimum order, Uline doesn’t explicitly say how much you need to order to qualify for a business credit account. However, you may have to order at least $50 worth of supplies for Uline to report your payment or credit history.
We suggest contacting Uline directly to see how much you can order on a net 30 account and what payment terms come with it. As we’ve mentioned, your credit limit will depend on your business’s overall financial health. Generally, the better your credit (i.e., good credit score, payment history) and revenue are, the higher the amount you can borrow.
Uline’s Net 30 Approval Requirements
There are no specific approval requirements for a Uline Net 30 account. But like most net 30 terms, Uline will ask for relevant financial information to evaluate your creditworthiness, much like when applying for a business credit card or loan.
Having a good business credit score can increase your chances of qualifying for an account. However, Uline will also take a look at your other vendor relationships to see how good you are at paying your balances.
You can apply for a Uline business credit account on their website or by calling their customer service line at 800-295-5510.
Credit Suite Can Help You Find the Best Financing Solution
Managing your overhead costs is one of the trickiest parts of running a business, especially when you have limited cash flow. Net 30 accounts like Uline’s help alleviate this strain by acting like a credit card, allowing you to stretch your money further while also giving you the office and shipping supplies you need ASAP.
Credit Suite can help you with everything revolving around business financing. Do you need help understanding a net 30 term? Want to consider another vendor for office supplies? Or maybe you need guidance on how to improve both your business and personal credit?
Credit Suite can point you in the right direction. Contact us today to learn more about becoming a financially savvy business owner.
