My Business Credit ReportReport on my business loan
The Coface Partner Annual Reports and Global Partner Network
Coface's global business networking, launched in 1992, unites commercial credit insurers, corporations and government agencies. While sharing the shared objective of developing and expanding commercial credit business in order to assist local and international business in many different market segments, they also build on Coface's experience and proprietary corporate credit history.
Coface's partner ecosystem supplements and reinforces Coface's worldwide footprint and allows its customers to benefit from an extended geographic scope of our service and a comprehensive understanding of regional business environments. Coface's worldwide operations also enable it to provide multinational companies with a tailored infrastructure that links worldwide scale and closeness.
The Coface Partner Business Reports deliver invaluable business and credit information about businesses and enable you to assess prospective new clients, business associates and vendors around the world.
What effect does delayed payment have on your company credit ratings?
You already know how important your corporate credit standing is for your financing in the near term - but did you know how much a delayed credit check can affect your creditworthiness? When deciding whether to grant credit or not, bank and other creditors monitor your company's payments behavior (and possibly your own, too, depending on your company's structure).
When you have a sound record of making early payment, the banks will consider you a dependable and accountable lender and will be more likely to grant credit. Probably the outcome is a rejected request - which further affects your credit standing and indicates to other creditors that you have already been rejected.
Corporate cash flows are one of the largest measures of a company's overall performance in terms of cash flow, good corporate governance and an immediate banner of problem. Delayed repayments are marked up to the most important credit bureaus and shown in your business credit report. Just one delayed payout can have a detrimental effect by taking you out of an "excellent" or "good" credit class and pushing your business down one level.
If you do not pay your invoices on schedule, you will be billed for delays. Use debit and standing orders for periodic repayments and audit your in-house procedures to make sure your vendors are tuned to the right pay cycle and that your in-house authorization procedures are sufficiently effective to enable prompt repayments at all times.
It will help you restore your business credit if it has been corrupted and will allow you to work as a business professionals. Grab yours today and get the facts you need to efficiently run your business - and its financials.