Anytime you work for a company or ship a product before getting paid, you are extending credit to that company. That’s why, just like any lender, before you begin working with a new client or company you should review the 5 Cs of Credit. Character For individuals applying for a loan, “character” generally refers to Read full post >
There are typically signs beforehand that a customer is in financial trouble. Your entire organization should be trained to spot these red flags long before those customers hit 90 days past due. Often times your sales or service teams will be in a better position to spot these problems than your finance or credit teams, so this Read full post >
With the economy continuing to struggle, it has become more important than ever for business owners to ensure the clients they extend credit to can be trusted to make good on payments. Credit analysis is incredibly important when considering extending credit to a new customer, but many businesses fail to perform similar periodic checks on Read full post >