NEWS - Local Breaking News

A new study shows that businesses which are members of a chamber of commerce have better credit scores on average than businesses that are not members. The American Chamber of Commerce Executives (ACCE) released results of the study detailing the credit scores and payment behavior of chamber of commerce members across the United States, comparing their member businesses with other regional, state and national business averages. On average, chamber members pay their bills faster and possess better credit scores than other businesses. According to the study, chamber of commerce members possess an average credit score of 629, compared to a 557 average score for businesses at large. Credit scores and the payment behavior from which they are derived play a significant role in attracting lines of credit and securing favorable terms from lenders and suppliers. "Chamber members have long been seen as responsible and reliable members of their community," said Mick Fleming, president and CEO of ACCE. "What this study indicates is that the perception is right. From a credit standpoint, chamber members on average are better businesses, and as a result they have significant advantages in obtaining the funds they need. In this economy and the tight credit environment we are experiencing, that's especially important." The study was contracted by ACCE and performed by Cortera, which reviewed payment behavior for chamber member businesses. A complete copy of the study, which includes both the aggregate findings is available on the ACCE and Cortera web sites. "The economic health of the entire supply chain is dependent on the payment behavior of each of its stakeholders," said Jim Swift, president and CEO of Cortera. "This study suggests that chamber members are among the most dependable participants in this ecosystem."

< Prev		Next >