Here at Ascension, we understand that financing your lift can be a critical component of your buying experience. Due to the nature our products, many customers desire to use credit or terms to help finance their lift. As such, Ascension has prepared this webpage to help you understand our process.
Dun & Bradstreet (D&B) Credit Reports
Ascension has partnered with D&B to help reduce credit risk and enable us to offer credit, even to first time customers. As such, when a customer requests terms, Ascension’s Accounting Department will request a D&B Credit Report on the purchasing entity.
(Not sure what D&B does? Learn about their services here.
The report will be reviewed, and Ascension’s management will determine how much credit will be offered. Ascension usually limits the available credit to D&B conservative recommendation. In such situations, we require pre-payment for any amount above the credit terms, and the remaining balance is due NET 30.
What factors do you consider when financing?
Ascension also takes into consideration other factors, such as the length of the relationship Ascension has with a given customer. As we get to know you, we are often able to offer improved terms.
We are also interested to know if your project is covered by a payment bond, or if the purchasing entity is a state or federal institution. In such situations, we may be able to offer terms above and beyond what D&B recommends.
Why Can’t You Offer More Credit?
On some occasions, a customer’s D&B Conservative Credit Limit will be less than the cost of an Ascension lift, and Ascension will only be able to give partial credit. In these cases, the customer will be required to prepay for the remainder of the purchase price before the lift can ship. In such situations, we are often asked why we can’t offer more credit.
The reason is simple. If Ascension offers credit to more risky customers, we would need to increase our prices to offset the occasional failure of a customer to pay. As a result, all of Ascension’s customers would be penalized for these unfortunate situations.
Cut to the Chase – What’s the Bottom Line
Ascension uses D&B to help evaluate the credit-worthiness of customers, and provides terms up to the D&B Conservative Credit Limit. However, if your project is covered by a payment bond or backed by certain funding sources (such as state or federal institutions), Ascension may be able to arrange alternate terms.
