How to Get & Check Credit/Trade References
If you're considering extending credit or are entering into a large agreement with a new customer, it’s important to understand how the company treats other companies they work with. Asking for credit information and checking references are the most effective ways to provide insight into how the company is run, and whether or not they are responsible when it comes to paying their bills.
It’s a good idea to check existing customers on a regular basis so you can stay informed and prepared should they unexpectedly face a cash flow problem. Below are two samples for your reference:
Sample of Credit/Trade Reference Form
Sample of Request for Trade Reference Form
Additional Free Online Resources:
State of Wisconsin:
- Wisconsin Department of Revenue: Database of delinquent taxpayers (individuals and businesses)
- Department of Financial Institutions database search engine on Wisconsin-based corporate records
- Public Court Records database search
Better Business Bureau:
If you’re interested in talking with an experienced banker about credit or trade reference issues, please email or call us at 414.466.8000.