Creditors use a credit application form to gather information from credit recipients. As the recipient, you are required to disclose information about your company to your potential creditors.
Trade references will be looked up; therefore, be sure to put down only names of referees you are sure will give you good relations.
Download the Credit Application Form, customize it to your needs, and Print it. Credit Application Form Template is either in MS Word or Editable PDF.
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Features
Company Information:
Business name and trading name (if applicable)
Business address, phone number, and fax number (if applicable)
Date the business was founded
Tax identification number
Estimated annual sales
How long the business has traded at its current address
Bank Information:
Name of the bank
Branch name
Contact person at the bank
Bank phone number
Trade References:
Names and contact information of previous creditors or suppliers the business has credit with
Authorization:
A section for the applicant to sign and also authorize a credit check
Benefits
Standardized application process:
A credit application template ensures all potential customers are submitting the same information in a consistent format. This allows businesses to easily compare applicants and also make informed lending decisions.
Complete information gathering:
The template ensures all the essential information required to assess a company’s creditworthiness is collected.
Business information (name, address, tax ID number)
Financial information (estimated annual sales, bank information)
Trade references (references from previous creditors)
Reduced risk of bad debt:
By carefully assessing a company’s creditworthiness through the information gathered in the application, businesses can also reduce the risk of bad debt and also loan defaults.
