CreditStrong for Business

NOVEMBER 7, 2024

Prospective homebuyers seeking a mortgage loan may use several strategies for improving low credit scores. Examples include reviewing credit bureau reports for possible credit account errors, avoiding late payments, paying down debt, and getting a credit builder loan.

Credit Scoring 40

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

Due

JANUARY 3, 2023

Often referred to as credit reporting agencies, these companies work independently. Credit Reports vs. Credit Scores. Your credit scores are also influenced by your credit reports. The reason for this is that credit scores are calculated using information from your credit report.

Credit Scoring 119

Credit Scoring Bankruptcy Credit and Collections Credit Reporting Agencies 119

Due

AUGUST 25, 2023

A lender will require documentation of your income and assets, as well as a credit check. You may be able to qualify for a loan with more favorable conditions if your credit score or income improves. Your credit score. Before refinancing, you should improve your credit score to get a better interest rate.

Credit Scoring 96

Credit Scoring Credit and Collections Credit Unions Credit Application 96

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Processing Delays There are several AR activities that often take longer than they should and therefore cause delays: processing credit applications, approving orders, generating invoices, and posting payments. Nothing is more frustrating to the sales team than an order from a new customer that sits waiting for approval.

Credit and Collections 130

Credit and Collections Bad Debt Accounts Receivable (AR) Deductions 130

Your Virtual Credit Manager

JANUARY 9, 2024

Using credit scores, how is risk distributed among each segment? Are the assigned credit limits appropriate for each segment? Once you have segmented for revenue, you can then look at secondary factors. For example: Do any of the segments account for a disproportionate amount of AR balances that are over 60 or 90 days past due?

Credit and Collections 130

Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

Emagia

MARCH 3, 2025

Key Components of the Accounts Receivable Process Cycle Credit Policies and Terms A well-defined credit policy outlines the terms and conditions for extending credit to customers, including payment deadlines, interest rates , and penalties for late payments. Electronic invoicing helps in quick delivery and tracking.

DSO 40

DSO Days Sales Outstanding AR Reporting Credit and Collections 40

Your Virtual Credit Manager

MARCH 19, 2024

Collection activity: Document the instances of broken promises or payment agreements before speaking to the customer's management. To do this you may want to order an updated credit report as well as recontact any suppliers they provided as a credit reference on their credit application.

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

CreditStrong for Business

SEPTEMBER 12, 2024

While the presence of hard inquiries on your credit report can significantly impact your overall creditworthiness, applying for credit or loan-related services will inevitably lead to a hard inquiry being recorded. But how long do hard inquiries stay on your credit report? How Much Can a Hard Inquiry Impact Your Credit Score?

Credit Scoring 52

Credit Scoring Credit Card Companies Credit Reporting Agencies Credit Application 52

CreditStrong for Business

SEPTEMBER 4, 2024

Once you realize how simple it is to fix your credit, you’ll wonder why you ever considered a credit repair service in the first place. Check Your Credit Report & Dispute Any Errors The first step to fixing your credit is knowing what it looks like. So it’s the ideal time to start tracking your credit.

Credit Scoring 52

Credit Scoring Credit and Collections Credit Reporting Agencies Credit Application 52

Fundera

JANUARY 25, 2018

So, as you approach the application process for whatever new business loan you decide to vie for, know that you not only need to come bearing your business’s qualifications but also the documents that provide proof that these qualifications are indeed true. Credit score. Credit score. Credit score.

Credit Scoring 66

Credit Scoring Small Businesses Invoice Amount Credit Application 66

Fundera

JUNE 21, 2017

If you find what looks like a mistake, check to make sure that it’s really a mistake on the information provider’s or credit reporting bureaus’ end. Gather documentation to support your claim. Put together any documents (proof of payments, correspondence related to the charge or error, etc.) that could help support your case.

Credit and Collections 75

Credit and Collections Credit Scoring Bankruptcy Credit Application 75

CreditStrong for Business

OCTOBER 1, 2024

Building credit the right way isn’t always easy. For most people with bad credit, buying authorized user tradelines seems like an easy fix for your credit goals. But don’t let the temporary credit score increase fool you. Buying tradelines could backfire and leave you in a worse credit situation than you’re in now.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit Card Companies Transactions 52

The Red Spectrum

APRIL 11, 2023

One way for new businesses to build their credit history and obtain a business credit score from credit reporting agencies is by opening net 30 vendor accounts that have lenient approval criteria and offer credit purchases with a 30-day payment window. Burstbiz 2. The Red Spectrum 3. What is a Net 30 Account?

Credit Reporting Agencies 52

Credit Reporting Agencies Credit Scoring Credit and Collections Credit Application 52

CreditStrong for Business

JULY 1, 2024

Meanwhile, it’s possible to qualify for most business credit cards with nothing but a high personal credit score. Credit cards generally have lower credit limits than business lines of credit, but stacking a few of them together can make up for the difference.

Credit Scoring 52

Credit Scoring Credit Card Companies Credit Application Small Businesses 52

Fundera

DECEMBER 18, 2017

500+ personal credit score. Credit score. Credit card processing statements. If your business fulfills those qualifications, then your next move is to get your application paperwork together. Most business line of credit applications will require the following documents: Driver’s license.

Credit Scoring 63

Credit Scoring Small Businesses Invoice Amount Deductions 63

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

Credit & Management Systems, Inc.

FEBRUARY 13, 2017

CMS’s highly acclaimed Corporate Credit Manager (CCM) software system is the most powerful and widely used commercial credit scoring, financial analysis, risk management, and decision support system available. CCM is and has been the accepted generic name for credit management software for over two decades.

Credit and Collections 40

Credit and Collections Credit Scoring Credit Application Credit Management 40

Biz2X

APRIL 13, 2023

Portfolio monitoring occurs after the loan documents have been tucked away and the borrowers have resumed their businesses as usual. Credit monitoring works hand in hand with a bank’s underwriting process. Allowance of recalls is usually tied to periodic financial reviews and is addressed in the loan origination documents.

Credit Unions 52

Credit Unions Default Credit Risk Credit Scoring 52

Fundera

MAY 31, 2020

The beneficiary provides documents and information to the negotiating bank, which will then act as a go-between with the issuing bank (as well as the confirming and advising bank, if they are different from the negotiating bank itself). In order to get a letter of credit, the first place you will go is your business’s bank.

Transactions 49

Transactions Small Businesses Credit Scoring Credit Application 49

Eagle Business Credit

OCTOBER 18, 2022

As a small business owner, things like financing and credit scores are on your mind. Business owners with bad business or personal credit also need to finance their business. When a bank might reject an application for bad credit, other financing options are available. Be sure to read all documents before you sign.

Small Businesses 52

Small Businesses Credit Scoring Credit Application 52

CreditStrong for Business

NOVEMBER 22, 2024

Understanding the difference will help you manage your inquiries, protect your credit, and keep track of who is checking your credit. Let’s take a look at hard inquiries, soft inquiries, and how they affect your credit score. When you check your own credit, it will register as a soft inquiry on your credit report.

Credit Scoring 72

Credit Scoring Credit Card Companies Insurance Companies Credit Application 72

Trade Credit & Liquidity Management

APRIL 16, 2025

Improve Credit Onboarding Automation and Controls: Provide a customizable credit application portal for new accounts that requires the documentation and an appropriate customer credit application to be completed fully and accurately prior to submission to the credit department.

Supply Chain Risk Assessment 52

Supply Chain Risk Assessment Credit and Collections Bulk Transfer Cash Forecasting 52