Vendors can help financing story in the Wall Street Journal by EMILY MALTBY –
Strong relationships are vital in landing financing. That’s why some small business owners have found luck with a group they already know well—their vendors.
Negotiating with vendors to secure better trade terms isn’t new. But research indicates that owners do so more aggressively when they can’t rely on lines of credit from traditional lenders.
Business owners can enhance their odds of scoring favorable terms by approaching vendors that already have a history of their payment records. “If you can get a discount, or [terms with] no interest, then you can go back to other vendors, and ask, ‘Can you do that for me?’” says Ms. Dunn.
Michelle Dunn, author of the Ultimate Credit & Collections Handbook, the check IS in the mail! available everywhere.
Tags: Credit Crisis, financing