It’s imperative to review your business’s credit policies on a regular basis to help ensure they’re still appropriate for each customer. Many business owners tend to focus on the reliability of new borrowers, and this can leave them blind to trouble brewing with established clients. One way to help perform your due diligence is by subscribing to a credit risk management platform that includes monitoring. These platforms can alert you to warning signs that a customer is struggling financially. If this is the case, it may be time to lower the amount of trade credit available to that business. While a platform like D&B Finance Analytics Credit Intelligence cannot see the future, it can provide you with valuable information to help you with your business decisions.
If your requirement is that applicants must have been using your portal with a paid membership for at least one year, it means you are looking for potential customers or partners who have been actively engaged with your services and have demonstrated their commitment by subscribing to your paid membership for a significant period.
Customer Loyalty: It shows that the applicants have remained loyal to your company and have found enough value in your services to maintain a paid membership for an extended period.
Business Credit Checks,
Business Credit Checks:
Business credit checks involve assessing the creditworthiness of a business entity, similar to how personal credit checks evaluate an individual's creditworthiness.
Credit reporting agencies collect and maintain information on businesses, including their payment history, outstanding debts, and other financial data.
Lenders, suppliers, and other business partners often use these reports to make informed decisions about extending credit or entering into business relationships with a company.
It's crucial for businesses to regularly review their own credit reports to ensure accuracy and address any errors that might affect their credit standing.