Summa Office Supplies Net 30 Review
Looking to purchase office supplies as well as cloud-based and digital products while simultaneously building business credit?
A Summa Office Supplies Net 30 Account may be right for you and offers two different types of accounts to accommodate the needs of different business owners.
Our Summa Office Supplies Net 30 Review
With a solid inventory of office supplies and cloud-based/digital products, free shipping, and reporting to two major business credit bureaus, we feel this vendor is one of the best net 30 accounts to consider.
The main caveat is that there are two different account tiers. To report to D&B, you’ll need to have a well-established business and may need to provide a personal guarantee.
Key Benefits of a Summa Office Supplies Net 30 Account:
- Tier 1 Net 30 Account Reports to Equifax Business
- Tier 2 Net 30 Account Reports to Dun & Bradstreet
- You Get Access to a Wide Variety of Office Supplies, Cloud-Based Products, and Digital Products
- Members Get Free Shipping and Are Eligible for Payment Extensions
- Summa Office Supplies Offers Credit References
Getting a vendor account with Summa Office Supplies differs from many other vendors because they use a two-tier system.
A tier 1 account is less stringent with its eligibility criteria and is easier to qualify for, making it suitable for many newer business owners.
With a tier 1 account, no personal guarantee is required, the credit limit is $2,000, and your payment history is reported to Equifax Business.
While this reporting isn’t as robust as some other net 30 vendors like Home Depot and doesn’t report to Dun & Bradstreet like a tier 2 account does (more on this later), reporting to Equifax Business should still help improve your business credit profile.
Just note that there’s a $75 annual fee, and a $75 minimum purchase order is required to be eligible for net 30 terms. This means you’ll have to spend at least $150 to have your credit line reported to a business credit bureau.
There are three main differences between having a tier 2 account from this vendor as compared to having a tier 1 account with net 30 payment terms.
First, a tier 2 account is more stringent with its eligibility requirements, meaning you’ll likely need to have been in business longer than if you were only applying for a tier 1 account.
Second, you may need a personal guarantee with a tier 2 account, depending on your current business credit history.
Third, a tier 2 account will report to Dun & Bradstreet, which is the preferred business credit bureau for many business owners.
Like a tier 1 account, there’s a $75 annual fee with a tier 2 account, and you have to spend at least $75 to have payments appear on your business credit report.
Besides that, this vendor requires that you have at least six months of credit history to qualify for a tier 2 account.
The credit limit is also the same as a tier 1 account with a $2,000 maximum.
Note that using a business credit builder like eCredable allows you to report trade credit payments from multiple credit bureaus, including D&B, Equifax Business, Experian Business, and Creditsafe.
So although Summa Office Supplies only reports to Equifax for a tier 1 account and D&B for a tier 2 account, linking this vendor with eCredable allows you to report to Creditsafe as well.
In terms of the products you can buy with a net 30 payment account from this vendor, they specialize in office supplies, cloud-based products, and digital products.
Some specific types of office supplies they offer include:
- Markers
- Dry erase kits
- Mailing labels
- Filing labels
- Legal pads
- Notebooks
- Easel pads
- Flip charts
- Erasers
- Correction tape and fluid
As for cloud-based and digital products, they offer:
- Time management courses
- Stress management courses
- Presentation skill courses
- Business software tools
- Best practices guides
- Employee policy guides
While other competitors, admittedly, have larger catalogs, we feel this vendor offers a sizable inventory selection.
If you’re a small business owner looking to buy office products and/or cloud-based or digital products while building your business credit file and increasing cash flow, this is definitely a vendor to consider.
Also, if you want longer payment terms than what net 30 accounts can provide, there are several options available that can help improve your credit history.
Here’s a list of our top net 60 vendors. And here’s a list of our top net 90 vendors.
One of the big perks of getting net 30 terms from this vendor is the free shipping on all orders for members.
While many office supplies companies offer free or discounted shipping on orders that exceed a certain amount (e.g., $50), shipping with Summa Office Supplies is 100% free.
Everything is shipped by UPS ground, with most orders arriving within one to five business days.
Also, this vendor is forgiving with their payments and offers extensions under the right circumstances. Although you always want to be diligent about paying each vendor credit on time, it’s comforting to know that you can potentially get a payment extension if you need it.
That way you can avoid issues with your business credit history even if you run into trouble making a particular payment within 30 days.
One final thing worth mentioning is that this vendor is happy to offer credit references to clients with a positive payment history and established track record.
In their own words, “Our members can rely on us to provide credit references whenever they are needed.”
This can be extremely helpful, especially for small business owners who are just finding their footing and trying to establish their creditworthiness.
Just like building consumer credit is contingent upon having a positive payment history with personal credit cards, personal loans, and so on, the same is true when building business credit.
If you apply for a business credit card, a business loan, or any other type of financing, having a solid credit reference from a vendor like this can improve your odds of approval and help you sustain momentum.
Also, like with personal credit where the more creditworthy you are, the better terms and conditions you can get with personal credit cards, you’re more likely to get favorable terms and conditions with business cards.
It’s also worth noting that Summa Office Supplies has served over 100,000 satisfied clients, with many having been with the company for over 10 years.
So if you want to build a strong relationship with a net 30 vendor, this can be a great company to partner with.
How to Qualify for a Summa Office Supplies Net 30 Account
Here’s what you’ll need to qualify for net 30 terms with this vendor.
- A business bank account
- A business address
- An EIN
- A DUNS number
You must also be in good standing with the Secretary of State. And as we mentioned earlier, you’ll need to pay a $75 annual fee and make a minimum purchase of $75 to qualify for a net 30 account payment term.
Again, this vendor offers two different account tiers.
Many small business owners will qualify for a tier 1 account, even those that are relatively new. This account doesn’t require a personal guarantee.
A smaller percentage of small business owners will qualify for a tier 2 account, as it’s designed for more established companies. This account may require a personal guarantee.
Increase Your Business Credit Score By As Much as 40% in 3 Months with eCredable
While gaining access to cash flow and having some wiggle room with invoice deadlines is certainly part of the appeal of net 30 accounts, most business owners primarily use them to raise their business credit score.
But here’s the thing.
You usually need to have 5-10 vendor tradelines to build any real business credit. Further, you may have to spend a considerable amount of money to build your business credit score.
One way to expedite the process without spending a fortune is using a business credit-building tool like eCredable.
With eCredable, you can automatically have business utilities, vendor payments, business services, and more reported to major business credit bureaus Equifax and Creditsafe for one low monthly cost. eCredable reports your monthly subscription payment to Dun & Bradstreet and Experian as well.
As soon as you sign up, eCredable will automatically attempt to download the past 24 months of your payment history for a significant credit bump. In fact, business owners see an average of a 40% increase in their business credit score in the first three months at all major business bureaus.
So if you’re looking to leverage the business bills you pay anyway to grow your business credit, eCredable provides an excellent way to do it.
You can learn more about how eCredable can dramatically raise your business credit score here.
Check out our other net 30 vendor reviews: Office Depot Net 30, Ohana Office Products Net 30, Staples Net 30, and Crown Office Supplies Net 30.