Will My Customer Need to Complete a Credit Application?

Your customer will not need to complete a credit application.  Instead, American Funding will pull a No soft credit inquiry on your potential new customer using a commercial credit reporting agency.  We just need the business name and address to pull a commercial credit report.  This type of inquiry does not affect your customer’s credit score or show as an inquiry on their report. The report provided will give a credit limit recommendation. It will also provide a financial stability risk report from low to high risk. The report will show the percentage of receivables that are current, 31-60 days, 61-90 days, and 91+.

This is useful information to have before you begin working with a prospective customer. You, as a business owner, need to know if this business pays their bills in a timely manner. The report will also show if there are tax liens filed, bankruptcies, or judgements. This information will allow you to go after businesses that are credit worthy and able to pay your invoices in your net terms.

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