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JBT Releases Redesigned Credit Report Making Financing Decisions Easier

It’s redesigned from scratch, and completely reorganized.

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(PRESS RELEASE) WARWICK, RI — In an effort to deliver additional credit information in a user-friendly format to its membership, The Jewelers Board of Trade (JBT) is announcing the availability of its newly redesigned Credit Report.

Redesigned from scratch, and completely reorganized, the new credit report includes (shown in the image below):

JBT Releases Redesigned Credit Report Making Financing Decisions Easier

Mike Kaplan, president, Rocket Jewelry Box and JBT chairman, stated, “JBT is the only association providing credit, collection and marketing services intended solely for the jewelry industry. It is JBT’s job to provide our members with insightful and accurate credit information – that is why we’ve invested in new technology and a redesigned credit report.”

  • A new front-page overview section, placing the most critical business credit information up front in an organized and easy-to-review format.
  • Clear presentation of both current and historical credit rating, and what the credit rating means.
  • New Payment Pattern charts clearly showing trends in trade payments based on agreed terms.
  • New Trade Performance charts showing the degree to which payments are slow or prompt.
  • Completely redesigned Principals, Operations, Business Relationships, and Legal sections making it easy to find this critical information.
  • Live linking of summary information to its source, making it easy to find supporting details. Number of claims placed against listing, number of trades and amounts and branch locations.

Although completely redesigned, the new Credit Report retains the level of detail and analysis which has made JBT the benchmark for credit information in the jewelry industry for over 135 years, including:

  • Business History and Principal/Owner antecedent details including prior business histories of the owners as well as current affiliations and business failures that are tracked on a daily basis by a dedicated group of analysts in our Credit Reporting department.
  • Operational details including type of business, square footage and number of employees. Nonfinancial information which is helpful in arriving at credit decisions.
  • Trade payment information provided directly by our members.
  • Claims information from JBT’s collection services.

“We spent many months working closely with our members developing a report that better serves their needs to make real time credit decisions in today’s rapidly changing jewelry industry. Our objective was to provide additional information in a format that’s now easier to read and understand,” said Rich Weisenfeld, JBT’s president. “We couldn’t be happier with the results.”

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Mike Kaplan stated, “JBT is the only association providing credit, collection and marketing services intended solely for the jewelry industry. It is JBT’s job to provide our members with insightful and accurate credit information – that is why we’ve invested in new technology and a redesigned credit report.”

The report will be rolled out to JBT’s current membership over the next month. Members wishing to gain access to the new report ahead of the rollout should contact their member representative, or email [email protected].

For more information on JBT’s new credit reports and other services, visit www.jewelersboard.com, email [email protected] or call 401-467-0055.

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Celebrate Your Retirement with Wilkerson

For nearly three decades, Suzanne and Tom Arnold ran a successful business at Facets Fine Jewelry in Arlington, Va. But the time came when the Arnolds wanted to do some of the things you put off while you’ve got a business to run. “We decided it was time to retire,” says Suzanne, who claims the couple knew how to open a store, how to run a store but “didn’t know how to close a store.” So, they hired Wilkerson to do it for them. When she called, Suzanne says Wilkerson offered every option for the sale she could have hoped for. Better still, “the sale exceeded our financial goals like crazy,” she says. And customers came, not only to take advantage of the going-out-of-business buys and mark-downs, but to wish a bon voyage to the beloved proprietors of a neighborhood institution. “People were celebrating our retirement, and that was so special,” says says.

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