ATTENTION Finance Brokers, Accountants and Solicitors: Do you have business clients with large debtor ledgers, where their customers simply expect them to keep on giving them credit for more goods or services, but making no real attempt to clear up the current debt?
ACCOUNTANTS & FINANCE BROKERS……. Do you have business clients who have major cash flow issues, simply because they aren’t getting paid by their customers?
A SHORT TERM BUSINESS LOAN MAY BE THE ANSWER!
We are not necessarily suggesting your client borrows money, but instead suggesting that their clients who are overdue on their accounts get a short term business loan to clear the debt up.
Why should your client have to be an interest free bank to other businesses?
Being too soft with debtors can be fatal for a business. We have seen it happen so many times over the years. The supplier of goods or services wants to seem like a nice guy or girl, and they don’t want to lose the ongoing business from a customer, however the customer now owes the supplier $200,000 and now the supplier is struggling to pay his or her bills.
The strategy…. say “enough is enough and I demand my money now!” By saying “I demand my money now” means in the next few DAYS… not the next few weeks or months. In weeks or months the customer could go under, and it’s often all too late then.
Ok… so where can the late payer (the debtor) get the money in a day or two to pay YOU???