Credit Policy for businesses and how to extend credit and manage credit risk

A credit policy will enable you to have better paying customers that pay on time and spend more money.

There are specific things that having a credit policy will do for your business if you enforce or stay on top of your policy.

• A Credit Policy will help you to be able to deal with and avoid future bad checks, NSF checks or any other returned checks. 
• You can have the ability to pull credit reports, check credit, and report good and bad customers to the credit bureaus.
• You will be able to make more money by controlling your cash flow rather than having your customers control how much money you have.
• You will be more effective when doing business online and off.
• You will know when and how to use a debt collection agency.
• A credit policy gives you guidelines for setting up payment arrangements that will benefit your cash flow and help make your business a success.
• A credit policy will help you learn how to extend credit so that it makes you more money.
• A Credit policy helps you when your communicating with your customers to help them stay current.
• You will learn how to take advantage of discounts to make you more money.
• You will know how to use Small Claims Court to your advantage.
• You will learn how discounts and late fee's can increase early and ontime payments.
• You will know what to do if your customer dies or goes bankrupt.