May 19, 2021

Posted by & filed under Bankruptcy, Business Credit Journal.

By Michael A. Brandess and Mark S. Melickian, Creditors’ Rights Attorneys at Sugar Felsenthal Grais & Helsinger LLP

In the timeless words of Larry David, business credit is pretty good right now. According to the American Bankruptcy Institute, April 2021 commercial chapter 11 filings were down 49% compared to April 2020. Recent legislation, such as the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) pumped trillions of dollars into the U.S. economy, inclusive of low interest (and potentially forgivable) loans under initiatives such as the Paycheck Protection Program (“PPP”) and the Main Street Lending Program. Banks are largely holding off on moving defaulted borrowers to their workout groups for several reasons, including the hope that many borrowers who initially defaulted will recover, and to avoid concerns about bad publicity.… Read the rest

May 19, 2021

Posted by & filed under Business Credit Journal, President's Message.

What encouragement we are beginning to feel with Covid numbers finally decreasing, vaccinations climbing in the general population, and people starting to get out around a bit more. I’m feeling nearly giddy about the near possibilities of seeing credit peers in person! The last year taught us so many life lessons, some of which we wish we didn’t have to experience (on reflection), and many more we’ll carry with us in newly developed lifestyles and professional ambitions.

I have to tell you, NACMCS staff have completely mastered this new virtual interaction that has developed into a heightened expectation. And while it is certainly secondary to in-person meetings, our use of the virtual platforms for industry groups, live demos, member and in-house meetings, educational sessions, accredited classes, and even our annual association member meeting have all become virtual offerings in the past year.… Read the rest

May 19, 2021

Posted by & filed under Credit.

We wanted to take a moment and recognize and recap the designation earners from 2020 – 2021. All of our designation holders over the years have worked hard in classes and time studying for tests to earn their certifications. Are you interested in education and getting a designation? Check out this guide on the certification program. If you have any questions contact Shawna Kelly.

Want to know more about the designation process? Our next Certification Roadmap class is July 7, 2021 from 5:30 – 7:00 PM PT.

More information on the CAP Courses currently being offered through NACM CS on the following pages.

March 2020
Lindsey Giglio, CBA, Keen Inc
Casey Bassett, CBA, Weyerhaeuser NR Company
Janene Heidlebaugh, CBA, Graybar Electric Company Inc
Alex McEntee, CBA, Pendleton Woolen Mills Inc
Nandeta Sharma, CBA, Blue Diamond Growers
Julie Gieber, CBF, OrePac Building Products
Melissa Garcia, CBF, Bridgewell Resources LLC
Alaina Worden, CBF, CECO Inc
John Steenman, CCE, Adobe Systems Incorporated

July 2020
Dan Clark, CBA, Pure Storage Inc

November 2020
Adeline Flower, CBA, Wagner Equipment Co
Lainie McElroy, CBA, Helena Agri-Enterprises LLC
Eleanor Hartman, CBF, Autodesk, Inc.… Read the rest

May 19, 2021

Posted by & filed under Business Credit Journal, International Business.

Written by: Brenda Barnes, Export Manager, Geo. S. Bush & Co., Inc.
Congestion at the seaports is in the news and has been for several months now. Most of what is seen on television are the ports of Los Angeles and Long Beach, California. Maybe that is the case because they seem to be in the worst way, with more than 30 ships at anchor waiting for a berth on any given day. Some of these ships at anchor are breakbulk ships, but for the most part, they are container ships. Other congested ports affecting shipping are Oakland, CA; Vancouver, BC; Houston, TX; New York; New Jersey; Savannah, GA; and Norfolk, VA. If you are interested in seeing how many ships are at the terminals and anchored, a good website to use is https://h5.shipfinder.comRead the rest

May 19, 2021

Posted by & filed under Collections.

Are delinquent accounts absorbing too much of your time? Could that time be better spent approving new business?

You are not alone, 93% of businesses experience late payments from customers. NACM Commercial Services is ready to extend a helping hand. Let us take the burden off of you and help mitigate your write-offs.

Placing an account for collection is easy—just download and complete the Collection Placement Form. Email the completed form to the contact information below. If you are an existing collections customer, submit your information online! Remember, when placing your account, include a current statement or invoice, credit application, and personal guaranty if available.

Contact us Today!
800.622.6985
col@nacmcs.org
www.nacmcs.org
Read the rest

May 19, 2021

Posted by & filed under Business Credit Journal, Lien Law.

Most project developers and general contractors respect the right of a potential lien claimant to record a construction lien in order to protect their right to payment. Periodically, however, there are those who seek to put undue pressure on a potential lien claimant to not exercise their lien rights. For example, a developer may threaten to stop doing business with a contractor to try to prevent the contractor from recording a construction lien, or a contractor may threaten to terminate an ongoing business relationship with a subcontractor or supplier to try and prevent their recording of a construction lien.

In 1992, as part of the Washington legislature’s amendments to many provisions of the Washington construction lien law, the legislature enacted a statute designed to deter persons from engaging in the above conduct and other similar coercive conduct.… Read the rest

May 19, 2021

Posted by & filed under Credit.

Looking for a good cause to donate some time to? Looking to get involved and network with other credit managers? Look no further! We have the perfect opportunity for you!

The NACM Commercial Services Foundation is looking for volunteers to serve on the board, plan fundraising events, or simply donate to this worthy cause. The NACM Commercial Services Foundation provides scholarship opportunities to credit professionals in the pursuit of education and training, achieving professional designation, and attending national and regional programs. The Foundation has awarded nearly $100,000 in scholarships to NACM members. By getting involved in the Foundation, you support the tradition of helping credit professionals succeed. If you are interested in learning more, please email us at foundation@nacmcs.orgRead the rest