Tag Archives: Payments

The benefits of direct debit services

Mandy Emmert/ July 13, 2017/ Services/

For a company that sells products or services on installments collecting payments can take a lot of time and resources. Many customers avoid payments or simply forget to pay on the due date. This situation can hamper the companies cash flow and also hinder any expansions that may be in the pipeline. If you wish to overcome this troublesome scenario direct debit may be your best solution.

What is direct debit?

Direct debit is something many of us have heard of and may have at least one dhfjklactive and attached to a bank account. It is where companies work with banks to automatically collect a certain amount over a prearranged time frame. When a product, service or subscription has been purchased, the customer will give authority to his or her bank to send the agreed payment to the company that provided the product or service. It can also come as a periodical request from the service providers bank. The customer will have to agree to this when the item or service is purchased.

Who can use direct debit?

While all customers can make use of this, banks and larger financial institutions will only allow the bigger companies to make use of such procedures. For smaller companies, getting direct debit payments organized can be extremely tough. However, with direct debit collection services, this is no longer an issue. Smaller businesses can now get the direct debits set up for their customers with companies that will make the debt and remit it to them on the same day and even before.

Here are the benefits of using such a service

Payments can be received on time, and it will not hamper your cash flow. When this happens, you will not have to chase behind customers and wait to cheques to clear or arrive in the mail.

yloih;2Direct debit services can also offer you cash advances or loans which can be ideal for times when you are having liquidity issues and want to get a new stock of items etc. If you have regular payments that are due to come in from clients, these direct debit services will be happy to grant you a loan against your future income. You will not have to place any collateral or worry about a bad credit history as it will not be taken into consideration for such loans.

Direct debit services can help a small company expand and reach their goals without being stuck for cash.

How A Business Can Avoid Bad Credit Score

Dorothy45dsg8/ May 10, 2017/ Finance/

A business will need to access loans and credit facilities at one time or another. However, various factors like high-risk, poor repayment of loans, or total failure to pay can hinder them from accessing such facilities from financiers. As a businessperson, therefore, you will need to ensure that your business credit score remains high at all times. So, how will the business ensure they have a high credit score? This article will elaborate more.

How to keep your business credit score high

Use high-risk credit processing expert

The high risk credit card processing will help you to understand where you stand. Some businesses are considered high risk due to their nature of operations. However, experts will not only help you in processing the credit card with banks but will also advise you on how to avoid affecting the credit score negatively once you get a loan.

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Pay your loans in time

Even though the business may be a high risk according to analysis, prove everyone wrong by repaying your loans in time. Good planning will help any business to achieve this without much strain. Furthermore, you ought to have negotiated affordable repayment plans with the bank. In most cases, they are flexible to allow you such plans with prior arrangements.

Avoid taking cash advance

Most merchant lenders make the process very simple and straightforward. Therefore, many business people tend to rush to their aid whenever they need financial help. If one can avoid taking a loan, this could be the best way to keep your credit score high. Only borrow when there is no other easy way. Genuine cases will usually have a better repayment strategy while those that are not will struggle to repay.

Lend money to the company yourself

If you have savings in your account, you can give an interest-free loan to the business when they need one. Do not allow the business to go to the financial financiers who will not hesitate to forward its name to the credit bureau when things get tough. At your level, you will understand and be patient until things are better.

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Use credit score repairers when need be

It reaches a time when the worst has happened, and there is no time to avoid it. Once the credit score has gone down, only an expert can help to raise it back. Credit score repair experts do negotiate with the financier on how to put things back to normal and even renegotiate an affordable repayment plan.