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Extending Business Credit
Extending business credit is a huge responsibility – it’s the credit manager’s job to weigh the risk of granting credit and determine whether customers can pay on time. Bad credit decisions, based on bad data, can impact monthly cash flow and lead to bad debt when customers don’t pay as promised. The articles below explain key concepts about extending business credit. Keep reading to learn more.
Financial & Credit Risks
Financial risks strike at the heart of a business, starving it of resources and hampering cash flow. Financial risk can appear in many forms – from customers who fail to pay for their purchases, suppliers who fail to ship inventory, and even the company’s own business strategy, if risky decisions are made. Learn about financial and credit risks and how data enables companies to more accurately assess the threat posed by other businesses.
A company’s business credit is its perceived ability to make good on financial obligations according to the terms of its contracts. This is often expressed as a collection of scores and ratings found in a business’s credit file, which is part of a company’s Live Business Identity in the <a href="/content/dnb-us/en/home/about-us/data-cloud.html">Dun & Bradstreet Data Cloud</a>. A strong business credit file can help put your potential customers, lenders, and suppliers at ease, while poor scores and ratings may impact your ability to win contracts, result in higher interest rates on loans, and otherwise limit growth.