Credit Application Form Template
Evaluate customer creditworthiness with a comprehensive application that collects business information, trade references, and bank details.
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What is a Credit Application Form?
A credit application form collects information needed to evaluate whether to extend credit terms to business customers. It captures financial data and references for credit assessment.
B2B credit decisions require understanding the applicant's payment history, financial stability, and business legitimacy. Trade and bank references provide third-party verification.
Proper credit evaluation prevents bad debt while enabling sales growth. The form creates documentation for credit decisions and collection efforts if needed.
Key Features
Business Information
Legal name, address, tax ID for verification
Financial Details
Revenue and years in business for assessment
Trade References
Existing credit relationships for payment history
Bank References
Banking relationship for financial stability
Credit Limit Request
Desired credit amount for approval
Terms Agreement
Legal acceptance of credit terms
Why Use This Template?
Informed Decisions
Complete data enables proper credit assessment
Reduced Bad Debt
Reference checks identify risky customers
Sales Enablement
Offer credit confidently to qualified customers
Legal Protection
Signed terms support collection efforts
What's Included in This Template
Business Legal Name
textOfficial name for credit report and legal
Tax ID / EIN
textBusiness verification and credit check
Years in Business
numberIndicator of stability
Annual Revenue
selectFinancial capacity assessment
Credit Limit Requested
numberAmount of credit desired
Trade Reference 1
textExisting vendor for payment history
Bank Name & Contact
textBanking relationship verification
I agree to credit terms
checkboxLegal acceptance
Perfect For
Wholesale Distribution
Retailers applying for credit accounts
Manufacturing
Customers ordering on net terms
Business Services
Clients requesting payment terms
Suppliers
New vendors establishing credit
Frequently Asked Questions
How many trade references should I require?
Three is standard. More for larger credit requests. Require established vendors, not personal references. Verify references actually call them.
Should I pull credit reports?
Yes, for significant credit limits. Dun & Bradstreet for business credit. Require authorization in application. Balance cost against credit amount.
What credit terms should I offer?
Standard: Net 30. New customers may start with COD or Net 15. Increase terms with good payment history. Consider early pay discounts.
How do I handle new businesses?
New businesses lack credit history. Require personal guarantee from owner. Start with lower limits. Increase with payment history. Consider deposits.
What happens if credit is denied?
Offer alternatives: COD, credit card, lower limit with deposits. Explain re-application in 6-12 months. Don't turn away sales - adjust terms.
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