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Q: What are the steps in the credit granting process?
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What is the job description for a credit manager?

The basic job description for a credit manager is to be accountable for the entire credit granting process. This process includes the consistent application of credit policy, periodic credit reviews of existing customer, and the assessment of the creditworthiness of potential customers.


What does a credit department do in a bank?

credit department handles the credit granting, credit collection and credit limits of their applicants


What does the granting of credit depend on?

Granting credit typically depends upon three factors: character of the borrower, capacity to repay, and capital used as collateral


Does the optimal credit policy minimizes the total cost of granting credit?

Yes


What are some steps you can take to improve cash flow?

If you wish to improve your cash flow, you can increase your sales. You can also increase prices for slow payers or become more selective when granting credit.


What is Accounts Receivable Management?

Accounts receivable management is a process of granting credit to customers as well as then receiving money at maturity time. Accounts receivable management includes activities like: 1 - Credit limit 2 - Credit time 3 - Discount allowed etc.


What are the six steps of credit granting process?

Application: The process starts with the customer submitting a credit application to the lender. Evaluation: The lender assesses the applicant's creditworthiness based on factors like credit history, income, and debt levels. Decision: The lender decides whether to approve or deny the credit application. Terms: If approved, the lender sets the terms of the credit agreement, including interest rates and repayment schedule. Disbursement: The credit is issued to the borrower once the terms are agreed upon. Monitoring: The lender continues to monitor the borrower's creditworthiness and repayment behavior throughout the loan term.


What two steps are involved with getting a credit card?

at 2 steps are involved with getting a credit card


What steps are involved during Merchant Accounts credit card processing?

A Merchant Account is an account linked to a business's current account that will accept and provide the credit card transaction process. In order to get a Merchant Account one must apply in a process similar to getting a personal credit card whereby credit worthiness, history of trading and likely spend will be assessed.


Where can I find my credit report score?

You are correct that banks often check your credit score before granting a loan. There are many companies that offer your credit score including http://www.myfreecreditreport.com


What is the function of credit reporting agencies?

Credit reporting agencies keep files of information on all consumers who have made credit transactions at some point in their lives. Credit granting institutions may purchase these files


What are the steps in the inflammatori process?

Describe the major steps in the inflammatory process.