I applied for a new credit account with a supplier today. They had two options, Net 30 and Net 55. Conservatively, one might think to apply for the Net 30 since I am a new business and have little established credit. But, go big or go home… I applied for the Net 55 since I am doing contracts with government agencies and from what I hear getting paid can some times take a while even if you have Net 30 terms in the contract.
Happy to say, approval came back immediately with a nice limit to purchase at least a server or two for upcoming contracts. One more quality supplier added to my list. I am glad I asked for the Net 55 terms.
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