Customers often borrow money as a means of financing their operations. These sources of financing such as banks, finance companies, factors and other institutional lenders, usually have first claim on a significant portion, if not all, of the customer’s assets by becoming a secured creditor through a filing under the Uniform Commercial Code. The customer’s reliance on the lender, and the lender’s superior collateral position, make it important for a grantor of unsecured trade credit to fully understand the relationships between the two parties. This module explores the various choices available to borrowers, as well as alternative methods of financing.
After viewing this module, students should understand:
Toni Drake brings over 30 years of oil and gas credit experience to the table. Toni holds a CCE, NACM’s most prestigious designation. After earning her CCE, she went on to attend and excel at NACM’s Graduate School of Credit and Financial Management to further her education in the field of credit. Toni continues to support the credit profession as a speaker and instructor at events like NACM’s annual Credit Congress.
Jay Tenney has been involved in credit for over 22 years. His first 10 years in credit he worked for the largest credit insurer in the world, and now works as a credit broker. Jay continues to support NACM as the Chairman of NACM Southwest and is a frequent speaker at NACM events. Jay has a BS in Agricultural Economics/Marketing from the University of Illinois.