Even though Hurricane Sandy doesn't dominate the headlines anymore, small businesses in the affected regions are only just beginning the long road to recovery. Among the casualties are small business credit scores as invoices go unpaid and bills pile up creating a short-term cash crunch. To minimize the damage to your score, it's important to first notify all of your customers. Explain the situation to them and provide a realistic timetable for a return to normal. Ask them to pay pending invoices on time or even early if possible to help you through this difficult time. Immediately contact your suppliers as well and try to work out a realistic payment schedule. Finally, make sure you tap into insurance and government assistance programs that can also help mitigate the impact of the overall situation.
Learn more at D&B Credibility Insights.
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