Mar 23, 2023

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Jamilex Gotay, Editorial Associate, NACM National

Anyone can benefit greatly from joining an association, yet 56% of associations admit they have trouble engaging young professionals, according to Naylor’s Association Communications Benchmarking Survey. However, many factors that millennials and Gen Z value most, including networking, collaboration and education opportunities, are abundantly available through associations. For any younger professional reading this, or older one advancing their career, by joining an association, you will stand out from the competition. Here’s why.

Increased Knowledge

One of the leading benefits of joining an association is the education. This includes opportunities such as programs and certifications that will expand your knowledge—something employers are always looking for. For example, NACM offers credentialing for credit professionals so they can set themselves apart.… Read the rest

Mar 23, 2023

Posted by & filed under Credit.

Written by: NCS Credit

If you are supplying materials or labor to a construction project, you can (and should) secure your receivables through the mechanic’s lien or bond claim process.

Mechanic’s liens and bond claims are two separate remedies, and you should ensure you secure the right one – but how do you know whether you should file a mechanic’s lien or serve a bond claim?

Determining your rights for any project requires you to know 3 key pieces of information:

  • Know where your customer falls in the contractual chain
  • Know the project type
  • Know the state where the project is located

If you are sitting there a bit befuddled, don’t fret, here’s an example of those 3 vital pieces of information.… Read the rest

Mar 22, 2023

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For the first time ever our whole team met up in Portland in February. Well, our team meeting started off with a bang – or should we say, a snowstorm! It was supposed to be a 3-day event, but on the very first day, the weather decided to have some fun and shut down the Portland area. We all had to make our way back to our respective homes, but the journey was a bit of a disaster and took us many hours. Some of us got stuck in the snow and had to channel our inner Olympian by pushing a van. One of us even broke a foot! Another had to ditch their car, while another had to wait it out at a bar.… Read the rest

Jan 19, 2023

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Written By: Keith Prather, Armada Corporate Intelligence

Washington DC, USA – March 9, 2018: Closeup of Federal Reserve bank facade. iStock Images

Analysts have been disjointed on the direction of the economy and whether a recession will hit, when it will hit, and how deep or shallow it might ultimately be. Even today, with Q4 coming in hotter than expected, debates rage over whether Q1 will usher in the start of a mild recession or whether the country will push it until later in 2023, or whether it will come at all.

For the credit management industry, the important factor to watch is the Federal Reserve and the actions it continues to take on interest rates to tame inflation.… Read the rest

Jan 19, 2023

Posted by & filed under Credit.

Kendall Payton, editorial associate, NACM National

The countdown for NACM’s 127th Credit Congress and Expo has begun! Join us from June 11-14 at the Gaylord Texan in Grapevine, Texas for the largest convention of business credit and financial management professionals in the nation. All attendees will have the opportunity to network, speak to exhibitors one-on-one, and learn from expert instructors.

Credit professionals can personalize their education experience at Credit Congress to fit their needs and interests. New additions in 2023 include the Strategic Leadership education track and the Exhibitor Solutions Hub.
The leadership track is designed to help credit executives transition from operational to strategic positions, with sessions aimed at professional development. Learn how to work with the C-Suite of players from Chris DeVany, founder and president of Pinnacle Performance Improvement Worldwide.… Read the rest

Jan 19, 2023

Posted by & filed under Credit.

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 that you include the authority to obtain an individual report within the body of the application or as a separate document. 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