READ THIS! BEFORE YOU EXTEND CREDIT TO YOUR NEXT CUSTOMER.
ARE YOUR CUSTOMERS CREDIT WORTHY?!

READ THIS! BEFORE YOU EXTEND CREDIT TO YOUR NEXT CUSTOMER.

Dear Friends,

Trust your week is going on well?!

I want to ask you a question, is your customer credit worthy?!

Now, before you answer that, let’s quickly discuss what credit is.

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?? “CREDIT” is simply when a customer obtain goods or services before payment, based on the trust or understanding that payment will be made in the future i.e. at a certain time agreed to by parties.

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??So, when people hear the word credit, they assume it relates to only Money Lenders & Finance Providers.

??But the real gist is, every business extend credit to its customer without even knowing it

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?? As long as you have given out goods to someone or rendered service for payment to be made later or the customer made deposit to spread the balance over a certain period, then, you have granted credit.

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?? Basically, Credit comes in three (3) major forms

1. Money (Loan)

2. Product (goods, supply)

3. Service

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?? Therefore, before you loan Money or render a service or supply goods for a later payment, you must first analyze this 5 major things (otherwise known as the 5 Cs of Credit) before going ahead;

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??1. Capacity: Does the customer have the ability to actually pay back the loan or meet up with the payment plan for the goods or services?

??2. Capital: What is the customer's business like, what is the worth of the business etc.?

??3. Conditions: Can the customer meet up with the terms and conditions of the business transaction?

??4. Character: What is the customer's past financial and business records with you like? Or even with other Lenders, Vendors or Service providers.

?? 5. Collateral: What is the person capable of dropping to secure your trust and confidence or does the person have nothing to drop?

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This is otherwise known as CREDIT RISK MANAGEMENT

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Lack of proper credit risk management is one of the major root cause of debts in business, especially for SMEs who do not take credit risk control seriously.

How to properly analyze the credit risk in every business transaction is one of the things you will be learning during the Debt to Cashflow Workshop?

A 3 day legal training for SMEs with debt issues on how to reposition their business to be better organized, legally protected and go from debt to constant cash flow.

The workshop holds LIVE from 3rd – 5th April, 2024 at 7pm (WAT) and guess what, IT IS ABSOLUTELY FREE!

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All you need is to register and you are in

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To participant in the free workshop, CLICK HERE to register and I will see you doing the workshop.

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Yours legal,

Precious Toju, Esq. (The Structure Lady)

Debt Recovery & Credit Risk Coach

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What I do in two (2) Sentences:

1. I teach SMEs how to INDEPENDENTLY TACKLE Debt Issues

2. I help Finance Providers AVOID CREDIT RISK that will lead to bad debts in Loan Transactions.

RESULT: Legal Knowledge on how to go from DEBT to CASHFLOW and more PROFITS!

Precious Toju, Esq. FIDR

Business & Debt Recovery Lawyer |Credit Analyst| Insolvency Practitioner| Debt Recovery Coach |Mediator-I help Businesses/Moneylenders get paid without losing customers & reduce the risk of bad debts for better cashflows

7 个月

Click the link below to register ?? https://precioustoju.ck.page/5f6f1ea921

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