by admin | Jul 25, 2018 | Business Credit & Collections Lessons, Commercial Collection Series
There are two things you must have to offer payment terms. Cash is the lifeblood of virtually every company. You must have adequate margins in order to afford the extension of credit, and you need excellent availability to working capital for those times when...
by admin | Jul 18, 2018 | Business Credit & Collections Lessons
Understand your volume of transactions and how much of those transactions are on terms. Businesses that run on thin margins can usually least afford the extension of credit to their clients. Businesses with healthier margins can typically better afford the extension...
by admin | Jul 16, 2018 | Business Credit & Collections Lessons
Understand your volume of transactions and how much of those transactions are on terms. If you have only a few clients, and all are on terms, one default could devastate your business. If you have a lot of clients, and only 1 defaults, while you might be hurt...
by admin | Jul 13, 2018 | Business Credit & Collections Lessons
Find a credit monitoring service. As a commercial collections agency, we’ve learned that If you extend a lot of credit, then your risk is higher, and the return on the expense of a credit monitoring service is warranted. There are several such services out...
by admin | Jul 11, 2018 | Business Credit & Collections Lessons
No Business Credit? Request Personal Credit Reports Many businesses simply don’t realize that there is a credit system for commercial businesses, let alone, how to build their business credit. If you can’t find any business references for the customer, request...
by admin | Jul 9, 2018 | Business Credit & Collections Lessons
Age of customer’s business. When it comes to commercial collections, and extending commercial credit, the longer a customer or client has been in business, the more likely they are to weather an economic storm. Certainly, the age of your business cannot be the only...
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