Do you have questions you would like answered by your peers in the proformative community?

Wayne Spivak President & CFO

Credit Management

Asked on Dec. 31, 2014

What services do you or your Credit Manager use to check the credit worthiness of both new and existing customers?

Answers

Mike Caruana Director of Financial Services • December 31, 2014

We use traditional credit reports (Experian, Equifax...) for domestic purchasers. We rely heavily on their information even if a customer has an established relationship with us.

Gary Honig President • January 3, 2015

Lenders use a variety of methods to track the creditworthiness of clients. If the company is public we use 10-K's and there are specialty services that send out alerts whenever a UCC is filed or a tax lien is issued. None of these resources are the last word, it takes a career of reading between the reports to gain a sense of where credit availability should rest. Ultimately first person payment history is the strongest indicator, but knowing how to be out in front of a downturn event helps in the long run.