--- title: Bay View Funding Blog | Credit Application description: Credit Application | Bay View Funding blogs explain what invoice factoring is and how factoring services can help a business owner with any cash flow problems. --- [![Submit a Payment](https://no-cache.hubspot.com/cta/default/211725/2836a4c1-908b-4584-8956-c2dfd9109628.png)](https://cta-redirect.hubspot.com/cta/redirect/211725/2836a4c1-908b-4584-8956-c2dfd9109628)   [Client Login](https://bayviewfunding.profitstars.com/) [Contact Us](https://www.bayviewfunding.com/contact) [(888) 229-9993](tel:888-229-9993) [![Bay View Funding Logo](https://www.bayviewfunding.com/hs-fs/file-433076702-png/images/logo-2.png?width=335&height=90&name=logo-2.png "Bay View Funding Logo")](https://www.bayviewfunding.com/) Fast invoice factoring and reliable service since 1985 [Se Habla Español](https://sites.bayviewfunding.com/prestamos-para-negocios) # Bay View Funding Blog ## [Why Should my Customers Have to Apply for Credit?](https://www.bayviewfunding.com/blog/why-should-my-customers-have-to-apply-for-credit) Posted by [Gil Oliva](https://www.bayviewfunding.com/blog/author/gil-oliva) on Wed, Sep 03, 2014 @ 08:11 AM [![](https://www.bayviewfunding.com/hs-fs/hub/211725/file-1552282784-jpg/BVF_Images_and_Logos_/BVF_blog_9.3.jpg) ](https://www.bayviewfunding.com/blog/why-should-my-customers-have-to-apply-for-credit) Every time you offer your customer terms on their invoices, you are extending credit. Do you have an application procedure in place in order for your customers to qualify for extended payment? Or do you offer 30-day payment terms or longer as a matter of course? If the answer to the last question is yes, you may want to rethink your policy. No matter what, ***your customers should be applying for the privilege of paying anything from 30 to up to 90 days past the due date of their invoice***. A well-constructed [credit application](http://office.microsoft.com/en-us/templates/credit-application-form-TC001018463.aspx) tells your customers you are serious, and may also make them feel more comfortable about doing business with you. Establishing that your customer is creditworthy means collecting all the information needed should the account become delinquent. It is always prudent to be prepared for late or non-payment from any of your customers. There are certain references that help establish the security of each account, such as [bank references](http://www.businessdictionary.com/definition/bank-reference.html) and [trade references](http://support.dandb.com/entries/22267076-What-trade-references-should-I-use-). Using these references enables you to establish past history with creditors, and also how well financial commitments are handled. In some instances, it may also be worth asking if good customers with less than healthy references are prepared to sign a [personal guarantee](http://www.businessdictionary.com/definition/personal-guarantee.html). Should their business go into default, they will be held personally responsible for any outstanding payments. [Read More](https://www.bayviewfunding.com/blog/why-should-my-customers-have-to-apply-for-credit) 0 Comments [Click here to read/write comments](https://www.bayviewfunding.com/blog/why-should-my-customers-have-to-apply-for-credit#comments) Topics: [Cash Flow](https://www.bayviewfunding.com/blog/topic/cash-flow), [Accounts Receivable Management](https://www.bayviewfunding.com/blog/topic/accounts-receivable-management), [Credit Application](https://www.bayviewfunding.com/blog/topic/credit-application) [All posts](https://www.bayviewfunding.com/blog/all) ### Subscribe by Email ### Posts by Topic - [About Invoice Factoring (157)](https://www.bayviewfunding.com/blog/topic/about-invoice-factoring) - [Financing Government Contractors (100)](https://www.bayviewfunding.com/blog/topic/financing-government-contractors) - [Cash Flow (59)](https://www.bayviewfunding.com/blog/topic/cash-flow) - [Cash Flow Solution (48)](https://www.bayviewfunding.com/blog/topic/cash-flow-solution) - [Alternative Financing (42)](https://www.bayviewfunding.com/blog/topic/alternative-financing) - 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