Sample Credit Application Template

Doing business today is one of the career choices of several people compared to working in an office. But when starting to do business, capital becomes essential because if likened, equity is the foundation of a large business enterprise and a small scale business. The amount of investment issued is also adjusted to the type of business that will be undertaken.

When the business has started to develop, business owners certainly want a breakthrough so that their business can still run. Moreover, if the company is run is a service and service provider business, you, as an owner, would also like to give appreciation to customers, one of them is by making it easier for customers to make orders. Give credit to customers is one of the ways to make it come true.

Extending credit in addition to providing services to customers, this method can also be used to expand the business and increase sales by providing credit services to customers. The way credit works are when a customer makes an order for goods or services, and they do not directly pay for it but extending the invoices up to 30 days from the date the order occurred.

When the credit method starts to be applied in your business, you need to prepare a credit application template to be filled by prospective customers. If you need a reference in form, you can check the credit application template online with various formats.

What is in the credit application template

Credit application templates available online can be your reference when making a design form. The following is the information you need in the credit application form:

 1. Income verification

Before providing credit services to customers, you need to ensure the income from the customer by writing income verification on the credit application form if the customer is an individual. Some documents required to confirm the details of the individual work are tax documents, bank reports.

Whereas for customers who come from business circles, you can ask customers to provide income statements, bank statements, tax documents, or other documents that show a fixed profit from the business.

 2. References

What is meant by reference here is a financial reference. If the customer is an individual, then they must include references from banks or credit accounts. But if the applicant comes from a company or business, then the text in question is a vendor or other creditor they might have.

 3. Address

You certainly want to know where your prospective customers live, and then you need information about the state, district, city of residence that will later facilitate you in attracting credit reports. As for business, you need the entire business company address.

 4. Contact phone number

For individuals, cell phone numbers, house numbers, and office telephone numbers can be included. As for business, you need a telephone number of the person responsible for paying invoices.

 5. Other Identifying information

For individuals, what is needed is their social security number. For businesses, what they want is their tax ID and company.

 6. Assets for background information

For individuals, you need the last two names of the employer from the individual and employment dates. For businesses, you need background information such as how long they have been in business, and maybe you can request a backup document.

A credit application is needed when you are a business owner and want to grow your business. Then you need a credit application template when you want to run a credit service in your industry.


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