MADISON, Wis.-The new CU Lending Council white paper on business loan collections offers the following red flags that a business is facing problems:
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• Payment consistently late, barely within the grace period
• Payment goes to the late charge the first time
• Payment goes to 30 days past due the first time, second time
• Member makes unfulfilled promises
• Member is in an industry affected by recession
• Member indicates that things have slowed
• When making site inspections, property isn't maintained
• Less contact, or avoids contact with you
• Lack of information, cash flow is inadequate
