Mountain States Commercial Credit Management Blog

To keep your business running smoothly and effectively, you must be able to determine whether it’s worth extending credit to individuals or business leaders in a timely fashion. Try these strategies to speed up your application process while maintaining system integrity.

As businesses grow and industries change, it often becomes necessary for you to extend credit to clients. This process allows you to do business with more customers since not all can pay at the exact sale or service time. Many business owners handle this process through an invoicing practice, which is beneficial for many different…

Before venturing out to start small businesses, people often ask themselves, “How will this affect my personal financial situation?” Many are fearful new venues will have negative implications on their personal credit and debt ratios. In The Face of Small Business data study, Experian researchers set out to get an answer:1 Is there a correlation…

Have you ever waited around on pins and needles for a customer to pay a bill? Do you often check your accounts receivable transactions to see where you stand? Most business managers go through this, and the longer they do, the more anxious they feel. These thoughts are a byproduct of what is called a…

Despite your best efforts, an unavoidable part of doing business is the occasional uncollectible account. Although every business owner wants to avoid this and does her or his best to do so, uncollectible accounts are inevitable. These accounts are receivables or debts with either little chance of being repaid or none at all and are…

Living in a truly global economy has international commerce on the rise. While it’s great for business, a unique set of risks comes with this new marketplace. Extending credit to a company leader overseas takes extra care because of the added risk and logistics involved in business collections on a worldwide scale. Global commerce can…

One of the biggest credit management risks that business leaders face is something many may not have considered: business-to-business (B2B) fraud, including bankruptcy fraud. B2B fraud occurs when a member of a business you have contracted with purposefully and deceitfully defrauds your company by taking advantage of the credit you have lent without intent to…

If you have heard anything about commercial collection agencies, chances are it was not necessarily positive. Maybe you heard collection agencies are expensive or their employees ruthless — or perhaps that they are simply unnecessary. As a result of these misgivings, collection agencies often suffer poor reputations. However, these agencies and the professionals their directors…

A credit report evaluation is a good first step in your credit review process, allowing you to see if a new customer is worth the risk. It can certainly offer valuable information, but to take this review a step further, you’ll need to look at the company’s financial statement as well. You’ll get a more…

Will you be attending the Credit Research Foundation (CRF) Expo Monday, Aug. 8, through Wednesday, Aug. 10, in Chicago? Jack Tootill and Tom Claybaugh will be at the Mountain States Commercial Credit Management (MSCCM) booth, ready to discuss all things credit! Keep up to date on industry trends, prepare for what may be coming your…