Template
Wholesale Credit Application Template
Before you grant a buyer Net 30, make them fill in a one-page credit application. This one is free, editable, and asks only questions that change your decision — no email wall, no catch. Put your logo on it and send it with your wholesale price list.
Download the template (Word, .docx)
Editable in Word or Google Docs. Every field is also listed below, so you can rebuild it in your own document if you prefer.
Why make buyers fill in a form at all?
Because asking is the first test. Wholesale buyers expect credit applications — every serious supplier they work with has one. A buyer who completes yours in a day is showing you an organized back office. One who stalls, or "will send references later," is showing you something too. And the answers themselves prevent the most common cause of late payment: invoices going to the wrong person, without the PO number their payment system needs.
What does the application ask — and why?
1. Their business. Legal name, trading name, entity type, tax ID, years trading, addresses, website. The legal name matters most: if you ever have to chase a debt formally, it has to name the right entity.
2. Contacts. The owner, the people allowed to place orders — and the accounts-payable contact, the person who actually pays invoices. Most "late" payments are really invoices sitting in the wrong inbox. This field is the single highest-value line on the form.
3. Purchasing and terms. Expected monthly volume, requested credit limit, requested terms, whether their invoices need a PO number, and where invoices must be sent. Their expected volume also gives you the starting limit — my rule of thumb is about 2× their monthly order value.
4. Three trade references. Suppliers who already extend them credit: contact, how long, what limit. You'll phone at least one (script below).
5. Bank reference — optional; useful at larger limits.
6. Resale certificate — for US buyers, so you don't charge them sales tax on wholesale orders.
7. Declaration and signature. They confirm the information is true, authorize you to call the references, and acknowledge that first orders may be prepaid while you check. No fine print — just the deal, stated.
The five-minute reference call
One call beats any form. Introduce yourself as a fellow supplier and ask three questions:
- "How long have you been supplying them on credit?"
- "Do they pay on time?" — then stay quiet and let the pause speak.
- "What limit do you give them?" — their answer calibrates yours.
Suppliers answer these honestly for each other; it's an old courtesy of the trade, and you'll return the favor someday.
Red flags worth respecting
- References promised "later," or references who turn out to be their own sister company.
- No accounts-payable contact — "just send invoices to me" from a busy owner is how day 30 becomes day 75.
- Pressure to skip the form because the first order is big. Big first orders are exactly when you check.
When you don't need this form
One long-standing buyer you already trust? Skip the paperwork theater — you need exactly two things: one reference call (or their payment history with you) and a credit limit written down. The form earns its keep when strangers start asking for terms.
Common follow-up questions
How many trade references should I ask for?
Ask for three, phone at least one. Three filled-in references prove the buyer has real supplier relationships; one five-minute call tells you how they actually pay. References from suppliers in your own industry carry the most weight.
Should I also run a paid credit check?
At small limits, reference calls are free and usually enough. Once a single buyer’s limit crosses the point where a loss would genuinely hurt — for many stores somewhere around $10,000 — paying a credit bureau for a report is cheap insurance. Do the references first either way.
An existing buyer wants terms — do they still fill this in?
A shorter version, yes. You already have their payment history with you, which beats any reference. But you still want the accounts-payable contact, the PO requirement, and the invoice inbox in writing — those answers prevent most late payments.
What if a buyer refuses to fill it in?
A wholesale buyer who won’t name references or an accounts-payable contact is telling you how they plan to pay. Stay friendly, keep them on pay-up-front orders, and revisit terms when they’re ready to do the paperwork.
If chasing invoices is the part you dread: TermsPilot sits on top of the native setup this guide covers — one aging dashboard, reminder emails that keep going until the invoice is paid, and per-company credit limits. The Free plan shows you who owes you what before you pay us anything.