How to extend credit for creditors.
Most people are familiar with credit scores. Many people reading this probably know what their own score is and what factors affect it. What some people might not know is that your business has a similar score called a business … Read More »
We recently wrote an article about experimenting with shortening your credit cycle to 20 or 25 days but at the same time there are some customers pushing for 60 or 90 day terms. Larger customers are increasingly paying on these … Read More »
The standard convention for credit terms has always been net-30. It provides your customers with enough time to pay but also allows you to receive payment within a reasonable amount of time. It seems to be the best option for … Read More »
In the last economic downturn for your industry, did your bad debt increase materially? While on the surface, customers not paying may seem bad for business. It leads to lost revenue and potentially lost customers, which ultimately will hurt your bottom … Read More »
If your customers are experiencing financial difficulties, they may suggest changing their credit terms with you. Other times it may be you who suggest changing the terms in order to reduce risk. One arrangement to be wary of though is … Read More »