Recently, Gymboree became another leveraged retailer to file Chapter 11 for relief from the ‘Amazon Effect’ on consumer spending behavior. The bankruptcy filing will leave many unsecured creditors with little or nothing. Related to this announcement, Fitch Ratings announced Monday its retail sector institutional term loan trailing 12-month default rate moved to 2.7% from 1.7%. By the end of the year, Fitch predicts the rate will rise to 9% — a threefold increase — a number that assumes a default by Sears. Continue reading
News
Credit Eureka Announces New Business Credit Insurance Informational Page
San Francisco, California – June 7, 2017. Credit Eureka, a leading provider of trade credit insurance, is proud to announce a new information page specific to the topic of business credit insurance. Many individuals and businesses may be unfamiliar with the evolving uses for “trade credit insurance.” The new page is a Web-savvy way of reaching out and empowering them on new applications as they search for this alternative credit product and its innovative marketplace. Continue reading
Leading Trade Credit Insurance Agency, Credit Eureka Announces Ambitious Website Upgrades
Credit Eureka, a leading provider of trade credit insurance, is proud to announce a new information page specific to the topic of business credit insurance. Many individuals and businesses may be unfamiliar with the evolving uses for “trade credit insurance.” The new page is a Web-savvy way of reaching out and empowering them on new applications as they search for this alternative credit product and its innovative marketplace. Continue reading
After-Christmas Sales Start Early in Credit Markets
The holidays. Fiscal year and quarter end approaches. In addition to holiday shopping, for Finance executives there are a number of things at the office that need to be crossed off the list. The last thing you want to hear before year end is that the foreign and key customer AR is deemed ineligible by your lender, Eximbank, or EDC for your company’s working capital finance programs. Continue reading
Why use an independent agency instead of directly engaging an insurer?
Henry Ford said it best; “Any customer can have a car painted any color that he wants so long as it is black.”
There are over 16 different credit insurance companies operating in North America. Even more when we include those offshore. 75% of the insurers do not sell directly, working only through specialty agencies. However 100% of the insurers sell via specialty agencies – including the direct sellers. Continue reading