New study shows chamber of commerce members offer safer bet when it comes to business credit risk

           

Chamber members pay their bills faster, possess better credit scores than other businesses

 

            ALEXANDRIA, Va. – February 22, 2010 -- The American

            Chamber of Commerce Executives (ACCE) today announced

            the publication of a new study detailing the credit scores and

            payment behavior of ten local chambers of commerce across

            the United States, comparing their member businesses with

            other regional, state and national business averages.  Produced

            by Cortera™, a community-driven business credit bureau, on

            behalf of ACCE, the study includes the Bowling Green (KY)

            Area Chamber of Commerce, Greater Boca Raton (FL) Chamber

            of Commerce, Greater Durham (NC) Chamber of Commerce,

            Greater Omaha (NE) Chamber of Commerce, Helena (MT) Area

            Chamber of Commerce, Lake Champlain (VT) Regional Chamber

            of Commerce, Lubbock (TX) Chamber of Commerce, Salem (OR)

            Area Chamber of Commerce, San Diego (CA) Regional Chamber

            of Commerce, and Tulsa (OK) Metro Chamber.  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.  Such scores – 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. 

 

            A complete copy of the study, which includes both the

            aggregate findings, as well as the individual commercial credit

            scores for each of the ten local chambers, is available on the

            ACCE and Cortera sites.  The study was contracted by ACCE

            and performed by Cortera, which reviewed payment behavior for

            chamber member businesses. 

 

            "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 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."