In a press release received early today, IMS is encouraging member and non-member businesses to take advantage of credit lines available through the barter network.
“The fundamentals of barter state that in a slow economy, business owners look to alternative means to stabilize cash flow and to keep new business coming in,” says Don Mardak, CEO of IMS. “However, we have been somewhat surprised by the strong increase in requests for credit that we have seen recently.”
Currently, the barter company has issued credit lines totaling more than $48 million. The top members in the IMS network have seen their lines increased by more than $2 million. Mardak continued, “If we as a country have learned anything from this current economic crisis, it is that any currency system must be operated prudently and responsibly, especially when issuing credit. IMS has a 24-year history of managing a healthy barter network. The opportunity to issue credit where credit is due is what we’re all about.”
“Because we base our credit on the products and services that the member businesses have to offer, not on their cash accounts, such as receivables or future sales or how they look on paper,” says Mardak. “So, while the bank might not be able to issue credit, our alternative currency system enables us to go about it differently and offer an alternative form of business financing.”
See the full story at http://imsbarter.com
