If you are still making business credit decisions the manual way, you may unwittingly be keeping your company lagging behind your competition. Why? Well, paper applications are time-consuming to complete, prone to errors and make for a less than efficient (and even...

Did you know that by reporting your commercial accounts receivable information to Experian and Equifax you can actually obtain access to better information for evaluating credit risk? You can also minimize late payments or defaults from your customers. The benefits of...

Technology has created an environment where an immediate response is expected for just about everything. In the lending world, consumers want their new accounts, loan approvals and credit increases approved in real-time, at the point of sale. That means lending...

Today’s digital technologies make it not only possible, but easy, to determine a company’s financial health. Here are four “As” (aka “ways”) that enable technology to help you gather the data you need to better protect and grow your business: Automation – Digital...

According to the U.S. Small Business Administration, there are nearly 30 million small businesses in the country. And while many of those that withstood the pandemic have reopened, two-thirds of them are concerned another resurgence will force them to close again and...

If you’re a new business owner, you probably don’t know how to open a business credit file for your company – or why it is important to do so. Even though you might understand how personal credit works, building solid business credit scores that can help your company...

If you extend credit to other businesses, you no doubt know that making the right decision about a firm’s creditworthiness is critical ─ and not always easy. But you don’t want to wade into these decisions uniformed. Well, you don’t have to. A business credit report...

Given the current economic climate, business creditors must proactively analyze their commercial portfolios’ exposure, assess performance by account, segment those accounts by risk, and develop a strategy to manage risks. They’re also finding that traditional manual...

Extending credit to a business customer is more than a mere courtesy. It’s a decision, and ultimately a policy, that can impact your company in both positive and negative ways. On the positive side, it’s a way to solidify and deepen business relationships by helping...

If you regularly extend credit to businesses, you should familiarize yourself with a type of credit score that is similar to a consumer’s FICO® score but is used to determine if a company is a good credit risk: the commercial credit score, otherwise...