Your Virtual Credit Manager

JULY 23, 2024

This is especially true in the case of small business customers, who will do everything they can to keep paying their suppliers and vendors, including tapping out their personal credit, until the bottom falls out. Irregular payments are a clear warning sign that default may be around the corner.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Shared Service Center Small Businesses 130

Emagia

MARCH 3, 2025

Customer Credit Evaluation Before extending credit, businesses assess the creditworthiness of customers through financial statements, credit scores, and payment history. Invoice Generation and Delivery Invoices should be accurate, detailed, and sent promptly after the transaction.

Days Sales Outstanding 40

Days Sales Outstanding DSO AR Reporting Credit and Collections 40

Your Virtual Credit Manager

MARCH 19, 2024

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. Have the customer complete an updated credit application and request updated financial information so you can assess their current financial status.

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

tillful

FEBRUARY 28, 2023

small business credit applicants. Experian includes the following information on its credit profiles: Open accounts: The personal credit accounts an individual has open and active under their name along with the account balances, payment history, and credit utilization (if applicable) for each account.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Bankruptcy 98

CreditStrong for Business

SEPTEMBER 17, 2024

You can use them to complete your daily transactions, and they often provide modest cash back rewards. However, you must provide the credit card issuer with a refundable cash deposit to qualify. Typically, the amount is equal to your eventual credit limit.

Credit Scoring 52

Credit Scoring Credit Application Credit Unions Credit Card Companies 52

TreviPay

MARCH 20, 2023

You can use Dun & Bradstreet and/or Experian to check credit reports and determine many businesses’ payment history. You can also call a businesses’ references and creditors directly or view their financial statements as part of the credit application. You might even miss warning signs.

B2B Credit 52

B2B Credit Credit Management Credit and Collections Days Sales Outstanding 52

Fundera

JULY 6, 2016

He might have been paying a 65% APR on $20,000, with payments getting taken out of his daily credit card transactions. Don’t default. This might seem obvious, but defaulting on your loan will seriously impact your credit score. Limit your credit applications. That can definitely make an impact.

Credit Scoring 74

Credit Scoring Credit and Collections Bankruptcy Small Businesses 74

CreditStrong for Business

SEPTEMBER 4, 2024

Then you’ll likely be in the catch-22 of having no credit and needing to have credit to build credit. This is often referred to as having an insufficient credit history. The initial sting of getting your credit application denied doesn’t feel great, but there are ways to overcome it.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit Application Credit Card Companies 52

CreditStrong for Business

MARCH 3, 2023

You can use them to complete your daily transactions, and they often provide modest cash back rewards. However, you must provide the credit card issuer with a refundable cash deposit to qualify. Typically, the amount is equal to your eventual credit limit.

Credit Scoring 52

Credit Scoring Credit Application Credit Unions Credit Card Companies 52

Credit Research Foundation

APRIL 12, 2024

Risk Mitigation – A seldom noted but important point is that a properly implemented program can reduce your risk of slow payment, fraud, and default within your portfolio. A properly implemented credit card program is becoming an essential tool in the payment process for organizations both large and small.

Credit Card Companies 195

Credit Card Companies B2B Credit Bad Debt DSO 195

TreviPay

MARCH 17, 2023

Being able to offer line of instant credit to its business customers while leaving responsibility for risk assessment and underwriting to TreviPay means this retailer is always paid on time, even if their business customers default on a payment.

B2B Credit 52

B2B Credit Bad Debt Credit Application Default 52

TreviPay

MARCH 17, 2023

Being able to offer line of instant credit to its business customers while leaving responsibility for risk assessment and underwriting to TreviPay means this retailer is always paid on time, even if their business customers default on a payment.

B2B Credit 52

B2B Credit Bad Debt Credit Application Default 52

Your Virtual Credit Manager

DECEMBER 17, 2024

Besides driving process improvement, the experts at Your Virtual Credit Manager can apply default risk probabilities & other financial benchmarks to your AR portfolio that reveal actionable credit & collection insights. Annual subscriptions are currently 40% off ($29.40) until the end of the year!

Credit and Collections 130

Credit and Collections Bankruptcy Credit Risk Default 130

Gaviti

MARCH 11, 2025

In the realm of B2B transactions, it’s easy to assume that securing a sale signifies the culmination of your efforts. Without proper credit assessments and checks, businesses expose themselves to significant financial risks, including cash flow disruptions and potential bad debts.

Credit Risk 52

Credit Risk Credit Scoring Credit and Collections Credit Application 52

Bectran

MARCH 5, 2025

The inherent risk of default in businesses extending credit makes bad debt accumulation more than a cursory concern, it is a challenge that can strike at the heart of your operations. If left unchecked, bad debt eats into your revenue, making a substantial impact on everything from your cash flow to future credit approvals.

Bad Debt 52

Bad Debt High-Risk Accounts Credit and Collections Default 52

CreditStrong for Business

NOVEMBER 8, 2024

When a credit bureau receives a new trade reference about your company, it may add an account (also called a tradeline , payment experience, or trade experience) to your business credit report. New lenders or suppliers might also review a trade reference letter when you fill out a credit application.

Credit Scoring 40

Credit Scoring Credit Reporting Agencies Credit Application Credit Risk 40