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Selling on Credit Without Financial Information

Originally Published: August 2012

What do you do when a potential customer approaches you for credit but is unwilling to submit financial information – and an independent credit report is either unavailable or provides little help?

Difficulty in obtaining what is needed to make an informed credit decision often confronts companies, espcially those doing business in the international marketplace. When the pressure is on to approve credit in order to take advantage of a significant sales opportunity, it's tempting to by-pass usual credit policy procedure. As a result, many assume an increased risk by basing a decision on less than adequate information.