Lumbermens Credit Risk Online

Lumbermens Credit Risk Online is a cloud-based credit decisioning platform and software designed to provide accurate credit information on businesses across Canada. According to the vendor, this solution is targeted towards businesses of various sizes, including those in the construction industry, credit and risk management professionals, financial institutions, suppliers and vendors, as well as business owners and entrepreneurs.

Key Features

Credit Reports: According to the vendor, users can access online commercial credit reports that provide comprehensive information such as credit ratings, payment trends, business age, ownership, and affiliations. This feature aims to enable businesses to make informed lending decisions in a timely manner.

Account Monitoring: The vendor states that businesses can track the daily credit trends of individual businesses with account monitoring. Users receive email notifications on key accounts, allowing them to stay vigilant and take proactive measures. This feature is intended to help forecast risks and identify high-impact actions like liens, judgments, or bankruptcies.

Credit Database: According to the vendor, users can instantly access Ontario's largest online credit database, which includes credit reports on thousands of companies across Canada. The user-friendly search tools aim to make it easy to find the credit report needed, and the reports are time-stamped to ensure the most recent information.

Collections: The vendor offers collection services to help businesses recover overdue accounts and maintain cash flow. According to the vendor, an experienced team handles commercial and B2B debt collection, ensuring collections are made without causing discomfort to customers. The service also offers a pre-negotiated contingency rate.

Lien & Legal Bulletin: Users can subscribe to a Lien & Legal Bulletin tailored for members, providing construction lien registrations and legal claims updates such as bankruptcies and civil suits. According to the vendor, weekly or bi-weekly updates are available, helping businesses avoid potential credit risks by staying informed.