Customer and Vendor Screening

As sales increase it's becomes increasingly vital that you make sure your customers are both willing and able to repay the money they owe. The number one way to determine if your new or old customer is going to be able to repay you as agreed is to do a complete and thorough customer or vendor screening.

This includes the following benchmarks:

• How long have they been doing business under this name?
• Are they in good standing with the secretary of state?
• Does the phone number and address agree with your application?
• What is their revenue, assets, liabilities and net worth?
• Who are the principals?
• What is their credit score?
• What trade line amount should you offer?
• Should you get a personal guarantee?
• What are the payment trends and averages?
• Do they have tax liens, judgments or collections?
• How many UCC filings do they have and in what amounts?