Free Credit Application Download
1. Automate as many A.R. processes as possible. Quickbooks or similar applications allows your business to automatically send and collect invoices when orders are generated/fulfilled.
2. When offering credit, offer it on your terms that you think are fair. Make sure the credit terms are terms you could live with if you were in the borrower's position. Starting with fair terms always leads to stronger deals and profitable relationships.
3. Be smart about who you offer credit. Do your due diligence and your homework. Use a standardized Credit Application. Here, use our credit application!
4. Because you are offering credit on your own terms, you can and should always require a personal guarantee or business collateral whenever possible.
5. When you have receivables and your debtor won't pay, submit a claim to CannaBIZ Collects and allow us to recover your outstanding A.R. We work on a contingency basis (meaning you only pay us when we collect). Click below to find out more.