30 Questions to Ask Now Before Extending Credit

1. How has your revenue been impacted compared to the same period last year?

2. Are you experiencing any delays in collecting payments from your customers?

3. Have you explored alternative financing options outside of traditional banking channels?

4. What measures have you taken to manage and reduce your operating expenses?

5. Have you experienced any disruptions in your supply chain, and if so, how are you addressing them?

6. Are there any outstanding legal disputes or pending lawsuits involving your company?

7. Have you renegotiated terms with any key suppliers to alleviate financial strain?

8. How are you managing your working capital in light of the current economic challenges?

9. Have you assessed the creditworthiness of your own customers to mitigate potential risks?

10. Are there any outstanding tax liabilities or issues with government agencies?

11. What steps have you taken to protect and preserve your company's credit rating?

12. Have you implemented any cost-cutting measures in your marketing and advertising budgets?

13. Are there any pending regulatory changes that could impact your industry or business operations?

14. How have changes in consumer behavior affected your sales and revenue streams?

15. Have you experienced any challenges in obtaining insurance coverage or renewing policies?

16. Are there any outstanding judgments against your company or its principals?

17. What percentage of your workforce is currently working remotely, and how has productivity been affected?

18. Have you explored any mergers, acquisitions, or strategic partnerships to strengthen your financial position?

19. How are you addressing cybersecurity concerns and potential threats during this period?

20. Have you experienced any disruptions in your technology infrastructure or IT support services?

21. Are there any outstanding environmental or regulatory compliance issues that may impact your business?

22. How have changes in interest rates affected your debt obligations and financing costs?

23. Have you engaged with industry associations or trade groups for support and insights?

24. Are there any significant changes in customer demand for your products or services?

25. How has the competitive landscape shifted in your industry, and how are you adapting to it?

26. Have you conducted a thorough review of your insurance coverage to ensure adequate protection?

27. What steps have you taken to address potential fraud or financial misconduct within your organization?

28. How are you managing customer relationships and addressing concerns to maintain loyalty?

29. Have you explored alternative revenue streams or diversified your product/service offerings?

30. How do you anticipate the current economic situation impacting your long-term business strategy?