Congratulations to these members on their new CBA & CBF designations. Are you interested in education and getting a designation? Check out this guide on the certification program. If you have any questions contact Shawna Axness.

CBA:
Alfredo Rivas, CBA – Walters Wholesale Electric Co

CBF:
Timothy Van Natta, CBF – Professional Member… Read the rest

By: Christopher Ng, Managing Partner | Gibbs Giden (cng@gibbsgiden.com)

As we head into 2024, sales, credit, and financial executives in the construction industry are all pondering the same question: can the red-hot construction industry continue its growth? No such luck, at least according to the 2024 American Institute of Architects (AIA) Semi-Annual Consensus Construction Forecast.

After a modest post-Covid 5% decline in construction spending in 2021, the building sector of the economy rebounded with 12% growth in 2022, followed by a whopping 22% increase in 2023. Manufacturing construction led the way, accounting for almost 30% of overall spending on nonresidential buildings last year. In addition, healthcare, education, religious, and public safety facilities each increased by more than 10%.… Read the rest

When a credit grantor is selling a sole proprietor, partnership, small corporate entity, or has obtained a personal guarantee, you should consider obtaining a consumer report on the owner(s) of that business. Although, the Fair Credit Reporting (FCRA) permits the use of a “consumer credit report” with a permissible purpose, it is recommended you include the authority to obtain an individual report within the body of the application or as a separate document with a signature below providing you authorization. If the personal guarantee is part of your credit application there should be a clear delineation from where the credit application ends and the personal guaranty begins. The signature line for the personal guaranty should be separately signed without a designation of title.… Read the rest

Kendall Payton, Editorial Associate, NACM National

Goals are the motivating force that drives us forward in any aspect of life. Whether personal or professional, big or small, creating these goals helps hold yourself accountable and are a great way to keep you motivated—and entering a new year gives everyone a fresh perspective on how to start envisioning their aspirations. At the end of 2023 when asked about top goals as a credit professional in 2024, process improvements was the number one answer, followed by automating credit tasks and improvement in leadership skills, according to an NACM eNews poll.

Almost every credit manager hopes to focus on process improvements this year. It’s an umbrella term that refers to the enhancement of existing workflows.… Read the rest

In the complex world of finance and economic management, individuals often find themselves drawn into unexpected career paths. For some, like Alex McEntee, CCE, a Credit Manager at Pendleton Woolen Mills, entering the credit field was not a predetermined choice.

1. The Serendipity of a Credit Career
   The journey into the credit field for Alex McEntee, CCE was far from conventional. Graduating during the aftermath of the 2008 financial crisis, he initially landed a seasonal temp job in a call center. Unexpectedly, this temporary position evolved into a permanent role. As fate would have it, a few years later, an opportunity arose in the credit department. Armed with an educational background in economics, the transition proved serendipitous, highlighting the dynamic and sometimes unpredictable nature of career paths.

As we prepare for the year ahead, it’s crucial to understand the trends of 2023 that shaped our current economic environment. As could be said for the entire post-pandemic period, last year was one for the history books, complete with ups – including a stronger-than-expected labor market and cooling inflation – and downs – including significant banking stress and rising delinquencies.

Download this year’s Economic Chartbook to look at the most critical and influential macroeconomic and credit trends of 2023.

Download now… Read the rest