You have great relationships with your clients that you have built on trust, but when a client goes under or has financial difficulties it is not much comfort to you to know they meant well. At the end of the day a bad debt is a long process of collection at best and often it is an absolute disaster. While there is no 100% solution to bad debt, you can be prepared for it to some extent through credit risk protection.
Credit risk protection means that a bad debt will have a much reduced impact on your finances. We will release an amount of the debt and then do all the follow up and chasing of the outstanding amount, so you can move on with cash in the bank.
When you need it, we can also offer a line of credit to allow you to top up without affecting your current supply agreements. The last thing you need is to not have capacity during a peak trading period. With our credit risk protection and finance options you will have access to the cashflow you need to keep your clients happy.
Credit risk is a viable option for many businesses but it needs discussion so that we can ensure you have the right support. Why not call one of the team to start a discussion? We are not here to sell, we are here to solve problems.