"Whether this prediction will come true or not, it is a good reminder to all business owners to remember two fundamental principles when giving your customers payment terms:
1. Does your customer have the wherewithal to pay?
2. Do they have the desire to pay?
You should always be able to answer both of those questions when extending payment terms. As lenders, these are two questions we are always trying to answer when working with our clients. It is also important for all lenders to pay attention to which customers their clients have large concentrations with and how they will be impacted by the economic tide."
- Ron Diversey, Senior Vice President and Chief Credit and Operations Officer, Prairie Business Credit
What Others Are Saying About Us
"We were helping to finance an acquisition for my customer. My customer needed a quick turnaround so our bank called Prairie Business Credit to provide the working capital. This was critical to the acquisition so the customer could hit the ground running, keeping suppliers paid and raw materials readily available. If we didn't have Prairie Business Credit, my customer would have needed to raise a lot more capital. Prairie Business Credit was very responsive and moved quickly to get the deal done.
Our bank has had a long-term relationship with Prairie Business Credit for over 20 years. They are a trusted and known resource to our bank because they are very bright, responsive and they have the ability to move quickly to fund a deal."
- Vice President Business Banking