ZANA Network Launches 90 Percent Insured Receivables Program for Its Small and Medium Enterprise Members

DETROIT, Dec. 5 /PRNewswire/ -- ZANA Network, LLC, an online marketplace and business development resource serving small and medium enterprises (SMEs) worldwide, today announced it will offer an insured receivables program that protects at least 90 percent of receivables for its members. The program enables ZANA Network members to purchase insurance to protect commercial accounts receivable from losses resulting from insolvency, non-payment by buyers or political risk.

"Small and mid-size businesses operate on limited cash flow. They need to be protected against non-paying customers," said ZANA Network Chief Executive Officer Howard Keating. "This offering provides our members with the peace of mind that comes from knowing they will be paid for their products and services. It frees them to do more business locally, nationally and globally. Now there's no excuse for not doing business anywhere in the world."

Insurance for receivables, which is routinely used in markets worldwide but is less common in the United States, not only provides protection against non-payment but also helps companies to increase sales, get loans, receive higher bank advances on receivables and improve their overall credit management.

"This is a great program that opens new opportunities for companies like ours," said Scott Thornton, president of American Electric Vehicles. "Now we can get access to more capital that we can use to build inventory, increase sales and enter new markets globally. This is an extremely valuable business driver, especially for a small company."

According to Keating, "Both private industry and the United States government are providing tools to make business easier, faster and more profitable. Most small businesses are simply not aware of tools like our insured receivables program. It is mainly based on the buyer's credit, not on the small business person. Anytime that a small business can be assured that at least 90 percent of its invoices are going to be paid, that's a phenomenal opportunity. It takes away the risk and is especially valuable for global trade."

Through its insured receivables program, ZANA Network members can protect their domestic and international trade transactions against the risk of non- payment. To qualify for the program, a business must insure either individual transactions or its annual sales volume and meet other requirements. All transactions worldwide over the course of the year will be covered by ZANA Network insurance carriers.

"By having accounts receivables insurance, a company can increase sales volume considerably," said Brett Halsey, NAFTA Regional Director - Commercial of Atradius Trade Credit Insurance, Inc. "Companies can grow by opening up new sales to existing customers, gain new sales to new customers, or even open up new markets. A company's ability to grow sales with a policy like this is unlimited!"

In addition, such insurance can increase the amount a bank will advance companies on their eligible receivables, potentially tripling the availability of capital for manufacturing, distribution and all areas of the business.

Added Keating, "With the protection ZANA Network is providing to its participating members, it is a lot less risky to do business internationally than it is nationally. It's great to get credit reports and information, and to know your partners. But when it gets down to it, and somebody there doesn't pay you what you're entitled to, you've got problems. An essential part of ZANA Network's overall mission is to help small and medium businesses succeed not only in their local markets but also in the global market.

"With assurance like this, companies large and small can go global and not worry about payment issues. Rather, they can think: Getting 90 percent of my invoice will at least not jeopardize my business. Not getting paid can bankrupt me," said Keating.

Through its one-stop menu of relevant services, ZANA Network helps all types of businesses -- from startups launching their first product to professionals building referral networks to established companies in any industry - reach more potential customers. ZANA Network accomplishes this locally, nationally and internationally. In addition to a platform to advertise and sell products and services, ZANA Network provides access to capital, insurance and other business services, and resources on how to do business in more than 200 countries worldwide.

About ZANA Network, LLC

ZANA Network is an online sales, marketing and business development resource for small and medium enterprises (SMEs) worldwide. ZANA Network provides selling, buying and partnering opportunities, trade resources, business guidance and essential services, and enables entrepreneurs, inventors, professionals and other SME business people to come together in a community for mutual benefit. ZANA Network helps businesses grow faster and more profitably. For more information, visit www.zananetwork.com.

Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Ray Thomas http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=65946 Howard Keating http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=65947