We at Reach Commercial Finance Limited are excited to work alongside Euler Hermes who have recently launched Credit Risk Analyser (CRA), a free tool that businesses can use to assess their sales ledger before purchasing a credit insurance policy. This digital platform gives statistical insights into your customer portfolio.
Results from a recent survey show that SME’s are already experiencing slower payments and bad debts.
- 40% of SME companies believe they will have a bad debt in 2020
- 38% of SME Companies are still waiting for payment on work completed prior to lock down in March 2020 – with an average balance of £58,000 being owed
- 25% of SME Companies have already written oFf money owed due to customer bad debt
If you are one of these SMEs affected, or want to see how CRA can help your business visit the website.