Dealer Credit Program
Who is Offering These Benefits?
Cleland Homsi and Associates, Inc., the bicycle industry’s leading Credit and Credit Management Specialists since 2000, is partnering with LEVA to offer their services to LEVA Members.
What Type of Credit Assistance Do They Provide?
1. Credit Line Recommendation Service: Determine credit worthiness and recommend credit lines.
a. CH&A will analyze and process each dealer’s credit application that is forwarded to us from the LEVA member supplier. Secure credit information, including credit reports from Riemer Reporting Service that the LEVA member supplier must be a member of, as well searching our CH&A Database.
b. Provide credit line recommendation to the LEVA member supplier whether to sell the dealer on open terms with a proposed credit line, or various methods of payments for non-open terms accounts, for example: Credit Card or COD, etc.
2. Credit Monitoring Service: Curing dealer delinquency.
a. Watching and monitoring past due dealers whose names are submitted to CH&A by the LEVA member supplier.
b. Contact and work with the dealer to establish a positive customer relationship and collecting the past due balance from the delinquent dealer.
3. Riemer Reporting Service. Membership in the NPSCA.
a. The LEVA member supplier must apply for membership in the National Pedal & Spoke Credit Association (serviced by Riemer Reporting Service) which provides the credit reports that CH&A uses to aid and assist us in our credit recommendation process.
b. The LEVA member supplier will be a member of the group and will pay the administrative and report fees (in addition to the cost of travel, meals, and lodging which will be apportioned equally among CH&A’s clients), but CH&A will administer and handle all the duties and responsibilities.
c. Duties include submitting the required monthly the member company A/R & Customer List information (which must be sent to us by your company the beginning of each month) and attending the mandatory meetings on behalf of the member company so that your company will remain in compliance with the Association’s By-Laws. The fee for membership in the National Pedal & Spoke Credit Association averages approximately $450.00 per quarter (which includes the cost of the actual credit reports and pro rata meeting expenses).
What Does it Cost?
The fee for CH&A’s services is as follows:
- The LEVA Member Supplier’s Credit Application: A one-time fee of $200.00 for the preparation and completion of the member supplier’s credit application, prepared by CH&A, that should be given to any dealer interested in doing business with your company, whether on open terms or COD/CC. This credit application contains all the covenants and legal instruments to protect your company, both present and future.
- Credit Line Recommendation Service: The cost for the credit line recommendation service is $20.00 (USD) per new dealer credit line recommendation and/or dealer credit line re-evaluation.
- Credit Monitoring Service: The fee for the Credit Monitoring Service is $35.00 per month per dealer monitored. If the dealer is not handled during the month then there is no charge to the LEVA member supplier the following month. Also, there is volume discounting for credit monitoring which can be discussed at the time when it becomes necessary for the LEVA member supplier to utilize this aspect of our services.
- Discount: All LEVA member suppliers who engage CH&A’s services will receive a 10% discount on their monthly invoice provided they are members in good standing with LEVA.
Who Can Take Advantage of This Service?
At this time, this service is available to vendors, manufacturers and suppliers in the US only.