Abrigo

MAY 30, 2023

CFPB intends the data collected by lenders on each small business credit application to shed light on potential disparate treatment in loan terms, especially related to minority-owned small business applicants, including women-owned small businesses. Talk to a specialist to learn more.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

Emagia

FEBRUARY 2, 2024

To meet the customer expectations and continue to be in business, businesses need to consider technology adoption in OTC processes including credit operations, to automate the following steps to make credit control autonomous. Online credit application makes the application process simple and quicker for the customer.

B2B Credit 52

B2B Credit Credit and Collections Credit Application Credit Management 52

Gaviti

APRIL 3, 2024

Document a process for how the company will deal with outstanding invoices. Documented internal escalation procedures should also include which levels of management and heads of departments (e.g. Carefully assess the payment history of the company and the risk it poses to your business. Collections analytics.

DSO 52

DSO Days Sales Outstanding Credit and Collections Collection Effectiveness Index 52

Gaviti

APRIL 24, 2024

Make sure you have all documents related to the customer on hand during the call in case you need them. Have systems in place to document everything. Record every conversation and correspondence to incorporate feedback, ensure accurate documentation, and support any future legal action if necessary. Consider a credit check.

Credit and Collections 52

Credit and Collections Invoice Collections Invoice to Cash Invoice Disputes 52

Biz2X

APRIL 13, 2023

Portfolio monitoring occurs after the loan documents have been tucked away and the borrowers have resumed their businesses as usual. Proper portfolio monitoring is important in banking because it reduces portfolio risk, promotes regulatory compliance, and minimizes losses.

Credit Unions 52

Credit Unions Credit Risk Default Credit Scoring 52

CreditStrong for Business

NOVEMBER 7, 2024

The next option involves filing a dispute with the credit reporting agency regarding the possible erroneous entry. The credit reporting agencies now have simple website applications for disputing potentially inaccurate payment history entries. If applicable, be sure to upload any documentation that supports your dispute.

Credit Scoring 40

Credit Scoring Credit and Collections Credit Reporting Agencies Credit Card Companies 40

Credit & Management Systems, Inc.

FEBRUARY 13, 2017

CMS’s Credit Suite SaaS platform, which incorporates CCM as a key component, is a powerful set of tools for new credit application processing, credit risk scoring, customer portfolio management and accounts receivable collections tracking.

Credit and Collections 40

Credit and Collections Credit Scoring Credit Management Credit Application 40

tillful

JANUARY 11, 2023

The next step in getting set up is that you’ll need to make sure any vendors or suppliers that you’re on payment terms with (such as Net-30) are reporting to the business credit bureaus, and if they are, which ones they’re reporting to. That will tell you which bureaus you have documented credit history with.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit and Collections Small Businesses 52

Due

JANUARY 3, 2023

There are a number of elements that make up your credit report, including personal information, your credit account history , and your credit inquiries. Credit bureaus receive this information from your lenders and creditors. FICO® Scores are used to determine whether you are a good credit risk for future lenders.

Credit Scoring 119

Credit Scoring Credit and Collections Bankruptcy Credit Reporting Agencies 119

Abrigo

NOVEMBER 22, 2021

Banks and credit unions extending payments on vehicle loans, personal loans, or other consumer loans had to ensure they provided accurate disclosures in compliance with federal and state consumer protection laws. In addition, Reg B bars creditors from making statements that would discourage credit applicants on any of the bases listed above.

Credit and Collections 78

Credit and Collections Debt Collections Credit Unions Electronic Funds Transfer 78