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CREDIT - Coggle Diagram
CREDIT
CHARACTERISTICS
Character
Conditions
Capacity/ Cash Flow
Collateral
Capital
IMPORTANCE
Business financing quicker and easier
Protect your personal credit score
Better credit and repayment terms with suppliers
IMPACTS
Higher Insurance Rates
Vendor Costs
Inability to Obtain New Loans
Utilities
Higher Loan Rates
CLASSIFICATIONS
ACCORDING TO MATURITY
Medium Term
Long Term
Short Term
ACCORDING TO PURPOSE
Calamity Loan
Auto loan
Industrial Credit
Commercial Credit
Export Credit
Micro Financing
Consumer Credit
Real Estate Loan
Agricultural Credit
ACCORDING TO RISK INVOLVE
Secured Loans
Unsecured Loans
COLLECTION DEPARTMENT
Minimizing bad debt losses
Managing the collection function
Accelerating cash inflow
Maintaining current information
Maximizing sales
Safeguarding the company's investment
Releasing orders from credit hold
Placing accounts on credit hold
Resolving disputes and deductions