Wednesday, November 01, 2006

Congratulations! You're a Lender!

On August 30th, I wrote that businesses extending open credit terms need to be aware of the risks and act like a factor. I just received the weekly newsletter of Hedman & Associates reminding companies that when they issue credit, they've essentially become a lender increasing their own business risk.

For some tips on teaching your staff how to minimize the risks of being a lender, consider these ten levels of investigation to follow when deciding whether to offer credit to your customer.

If cash flow gets tight because you're acting like a lender and you need a business loan secured by your accounts receivable, read "Matchmaking for Business Loans" and then give me a call.

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