Evidence suggests around 20% of small business loan applications are rejected due to a lack of business credit.[footnote]Small Business Administration. "10 Stats That Explain Why Business Credit is Important for Small Business". Accessed September 19, 2022.[/footnote] Net 30 accounts allow you to record successful payments to your vendors, meaning payments made within the payment period will record on your credit file. This is an excellent way to build credit if you don't have access to loans, credit cards, lines of credit, and other forms of commercial finance.This type of payment arrangement isn't just useful for new businesses without access to loans. It's also a good option for established businesses wanting to continue building their credit.