Customer credit application
Apex Hardware Supply
Commercial Credit Application
Terms: Net 30
Requested limit: $15,000.00
Applicant Company Identity
Legal Name: Great Lakes Contracting LLC
DBA: GLC Construction
Address: 8400 Industrial Way, Ste 120, Chicago, IL 60614
Phone / AP: (312) 555-0182 · ap@glc-contracting.example
Tax ID (EIN): 36-1234567
Structure / Years: LLC · 8 years
Principal Officer
Robert Sterling, Managing Member
(312) 555-0183 · rsterling@glc-contracting.example
Bank Reference
First National Bank of Illinois
Commercial Lending Dept · (312) 555-9000 · Commercial Checking
Trade Credit References
| Company | Contact Person | Phone | |
|---|---|---|---|
| Midwest Building Materials | Karen Adams | (312) 555-4301 | credit@midwestbm.example |
| Pioneer Lumber Supply | Mark Henderson | (312) 555-8812 | accounting@pioneerlumber.example |
| Atlas Concrete & Aggregates | David Cho | (312) 555-7260 | credit@atlasconcrete.example |
Terms policy:
Applicant certifies all statements are true and authorizes creditor to contact references and banks to investigate commercial credit history. Invoices are payable strictly in accordance with agreed terms.
Robert Sterling, Managing Member
Authorized Representative Signature
October 12, 2026
Date
Commercial Trade Credit Application · sbon.org
Private client-side record · Retain in credit file
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Commercial credit terms & reference verification
Why use a formal customer credit application
Extending open-account trade terms (such as Net 30) effectively makes your business an unsecured lender to your customer. A standard credit application establishes formal accountability before opening an account.
- Establish legal liability: Identifies the exact legal entity (LLC, Inc., Partnership) and federal EIN responsible for invoices, avoiding ambiguity with trade names or DBAs.
- Verify trade references: Calling 2 or 3 existing suppliers helps confirm payment habits, average monthly balances, and whether the buyer takes unauthorized deductions or runs past due.
- Written credit authorization: Secures written permission to contact commercial banks and check supplier references, while reaffirming payment deadlines and late payment policies.
Worked example
A regional contractor requests $15,000 in monthly building materials on Net 30 terms. By reviewing their 8-year operating history, active bank reference, and three prompt supplier payment histories, the supplier confidently approves a starting $10,000 credit limit with review after 90 days of on-time payments.
Common mistakes to avoid
- Delivering before approval: Never release goods or services on open credit until references are checked and the application is signed by an authorized company officer.
- Skipping trade checks: Unchecked references frequently hide cash flow trouble or supplier disputes. Contact suppliers directly rather than relying on letters provided by the buyer.
- No periodic limit reviews: Review active customer credit limits every 12 months as commercial conditions, volume, and repayment timeliness evolve.