Lendio

JANUARY 9, 2023

For business owners and entrepreneurs with a large amount of savings, the main obstacle to starting a business is often coming up with a viable idea. Yet many aspiring entrepreneurs have a different problem—the idea is there, but the capital isn’t. Traditional banks rarely offer business loans to brand new entrepreneurs.

Credit Reporting Agencies 105

Credit Reporting Agencies Small Businesses Credit Scoring Default 105

Lendio

NOVEMBER 14, 2023

If you’re a small business owner looking for financing options, you may have come across the term “SBA loan.” But what exactly is an SBA loan? In this blog post, we’ll dive into the details of what SBA loans are and help you understand if getting one is the right option for your business.

Credit Scoring 52

Credit Scoring Small Businesses Credit Unions Default 52

Skogen Capital Lending

FEBRUARY 14, 2023

Working capital plays a vital role in the success of a business. Small business owners often have more difficulty than larger institutions when it comes to accessing capital, which means it can be important to look at financing options like SBA loans in order to stimulate cash flow.

Small Businesses 97

Small Businesses 97

Lendio

AUGUST 14, 2023

When it comes to small business loans, the US Small Business Administration (SBA) isn’t just a federal agency. For example, in 2017 the SBA helped connect entrepreneurs with 68,000 loans through the 7(a) and 504 loan programs alone. It’s an institution.

Credit and Collections 98

Credit and Collections Credit Scoring Nonprofit Organizations Default 98

Lendio

MARCH 18, 2023

As a small business owner, there are many challenges you may face on a day-to-day basis. Nonetheless, a Federal Reserve study finds that around 40% of small businesses do not receive the full amount of funding they need when they apply for credit. On a positive note, there are many ways to fund your small business.

Small Businesses 72

Small Businesses Nonprofit Organizations Credit Unions 72

Lendio

DECEMBER 12, 2022

The availability of dependable cash flow can have a big impact on the success of a small business. Yet a 2021 report from the Federal Reserve shows that, when businesses applied for financing, nearly 60% of applicants were either outright denied or able to borrow only a portion of the money they needed. . Time in Business Min.

Small Businesses 98

Small Businesses Credit Scoring Credit and Collections Credit Reporting Agencies 98

Lendio

NOVEMBER 13, 2023

The nature of the work involves significant upfront costs, from materials and equipment to labor and permits, all to be paid long before a project reaches completion and payment is received. In this article, we will delve into this unique financial tool that is specifically designed to keep your construction business on solid ground.

Credit and Collections 52

Credit and Collections Credit Scoring Small Businesses 52

Lendio

APRIL 19, 2023

As a small business owner, knowing how to raise capital for your business is crucial to its longevity. Whether you need money for operating expenses or are looking to expand, there are many reasons you might need access to additional capital. That company then works on collecting payment from the customer(s).

Credit and Collections 52

Credit and Collections Credit Scoring Small Businesses 52

Lendio

DECEMBER 16, 2022

Way back in 2019, research from the Harvard Business Review (HBR) published a powerful statement on recessions: it’s less about if you should prepare or when and more about how you’re preparing. Which capital investments do you really need to make? Because twists and turns in an economy always come with an element of unpredictability.

Small Businesses 98

Small Businesses 98

Lendio

DECEMBER 7, 2023

Running a small business often requires making savvy decisions about acquiring necessary equipment without overspending. One popular strategy among small business owners is equipment leasing, which allows you to use high-quality equipment without the financial burden of buying it outright. What is equipment leasing?

Small Businesses 52

Small Businesses Credit Scoring Deductions 52

Lendio

FEBRUARY 22, 2023

Small Business Administration (SBA), small businesses account for 99.7% of all businesses in the U.S. But what exactly is a small business? Keep in mind that your NAICS code should describe the primary activity of your business or the one that produces the most revenue. According to the U.S.

Small Businesses 72

Small Businesses 72

Lendio

JANUARY 6, 2023

Small business loans are one of the most popular ways for entrepreneurs to get the money they need to start a business and keep it running. Yet, despite the importance of accessing capital, some small business owners struggle to qualify for funding. Business Loan Approval Factors.

Credit Scoring 93

Credit Scoring Small Businesses Transactions 93

Abrigo

SEPTEMBER 7, 2023

WATCH NOW Takeaway 1 Financial institutions create a competitive advantage when they are informed about critical factors affecting loan growth. Takeaway 2 A key component of business intelligence is identifying which data generates the most effective lender dashboards. Learn how to tap your data to generate management insights.

Dashboards 78

Dashboards Credit Unions Credit Risk CECL 78

Lendio

OCTOBER 27, 2023

Starting a business can be a daunting task, especially if you lack the capital to get it off the ground. Finding the funding to start a business is one of the biggest hurdles you’ll face as a small business owner. Crowdfunding Crowdfunding is another popular option for raising money to start a business.

Credit Unions 52

Credit Unions Small Businesses Credit Scoring Transactions 52

Lendio

FEBRUARY 27, 2024

As a small business owner, you know the value of flexibility. Circumstances can change rapidly, for better or worse—a few days of bad weather or a positive Instagram post from a popular influencer can have huge impacts on a small business’ cash flow. How does a business line of credit work?

Alternative Payment Methods 52

Alternative Payment Methods Credit Scoring Credit Card Companies Small Businesses 52

Credibly

NOVEMBER 8, 2023

You’re ready to take the next big step for your business—maybe you’re looking at an acquisition or moving to a bigger location. Your vision, leadership, and the core essence of your business remain uncompromised. Business owners have demonstrated interest in this funding option, and that interest is only growing.

Default 52

Default Small Businesses 52

Lendio

NOVEMBER 7, 2023

You can launch your own business from the ground up, you can partner with someone else, or you can even buy a small business outright. Buying a small business can create a unique stream of income and help you to launch your new career—you just need to know where to find them and how to invest.

Small Businesses 97

Small Businesses Credit and Collections Credit Scoring 97

Lendio

MARCH 31, 2023

Researching how to get a government loan to start a business? Or have you heard that government business loans have some of the best rates? Government business loans do come with competitive rates, and some of them can even be used to cover startup costs. What Are Government Business Loans?

Default 52

Default Credit Unions Small Businesses 52

Lendio

JANUARY 31, 2023

When it comes to business loans vs. personal loans, many borrowers take the same approach. A loan is a loan, right? Business loans and personal loans are actually quite different and should be approached with different criteria, but it makes sense that most people think of them as the same.

Medical Billing 97

Medical Billing Credit Scoring Credit Unions Default 97

Lendio

NOVEMBER 17, 2023

Are you a small business owner looking to buy new equipment? Fortunately, the Small Business Administration (SBA) offers loan programs specifically designed to help small businesses purchase necessary equipment. Reasons to use an SBA loan to buy equipment.

Credit Scoring 52

Credit Scoring Nonprofit Organizations Credit Unions Small Businesses 52

Credibly

JANUARY 30, 2024

How does it work? What can I use invoice factoring for in my construction business? Right fit financing—for the way you do business. Managing cash flow is a critical challenge for construction businesses, which are often impacted by payment delays that are all too common in the industry.

Invoice Amount 52

Invoice Amount Invoice Collections Small Businesses 52

The Red Spectrum

MAY 16, 2023

Small businesses are the backbone of any economy, driving innovation, creating employment opportunities, and contributing to economic growth. However, starting or expanding a small business often requires a significant amount of capital, which may be limited. SBA Loans: Backed by the U.S.

Small Businesses 55

Small Businesses Credit Scoring 55

Credibly

OCTOBER 31, 2023

What is the difference between a loan and lease financing? Let us guide you Have you ever considered an alternative way to acquire assets for your business without the hefty upfront costs? Through a simple agreement, you gain the right to use an asset, transforming how you approach investments and capital allocation.

Small Businesses 40

Small Businesses 40

Lendio

NOVEMBER 14, 2023

Small businesses know the importance of staying flexible and agile. It’s not unusual for expensive challenges and unexpected opportunities to appear without much notice, especially in the early days of a new business. As a result, a revolving line of credit is a popular financing solution among many business owners.

Credit Scoring 52

Credit Scoring Small Businesses Credit Risk Default 52

The Red Spectrum

JUNE 15, 2023

If you are a small business owner, you know how challenging it can be to find the right financing for your business needs. Whether you need working capital, inventory, equipment, or expansion funds, you want to get the best deal possible without compromising your cash flow or credit score.

Nonprofit Organizations 73

Nonprofit Organizations Credit Scoring Credit and Collections Credit Unions 73

Abrigo

APRIL 30, 2020

Key Takeaways Borrowers must document how their PPP loans are used Borrowers must maintain employee and compensation levels At least 75% of the loan must be used for payroll and other permissible expenses Borrowers must have "economic need" for a PPP loan. Here are four signs your loan will NOT be forgiven.

Cybersecurity 109

Cybersecurity Small Businesses Credit Risk 109

Lendio

JANUARY 13, 2023

In its truest form, factoring isn’t really a loan as much as it is the sale of an asset. In its truest form, factoring isn’t really a loan as much as it is the sale of an asset. What Are The Benefits Of AR Factoring? Some factoring companies specialize in specific industries and business types. How A/R Factoring Works.

Credit and Collections 98

Credit and Collections Accounts Receivable (AR) Credit Scoring Credit Unions 98

Lendio

DECEMBER 12, 2023

Or, maybe you’re passionate about cars and interested in starting a business in the automotive industry. From creating a business plan to hiring mechanics and building your brand, we’ll cover all the essential steps you need to take to make your dream of owning an auto repair shop a reality. Create a business plan.

Small Businesses 52

Small Businesses Transactions 52

Skogen Capital Lending

NOVEMBER 15, 2022

However, owning it outright and paying for it through financing can be a benefit to your organization. Here are a few reasons why you should get a loan for your facility. Here are a few reasons why you should get a loan for your facility. To prevent this for your company, you should apply for a commercial real estate loan.

Small Businesses 69

Small Businesses 69

lsq

OCTOBER 12, 2023

Since the onset of the pandemic, approval rates on loan, line of credits, and overall lending have declined. The shift from lending to deposit generation is leaving many businesses without access to financing options. and creates a stronger funder and business relationship.”

Credit Risk 52

Credit Risk Small Businesses 52

Credibly

AUGUST 16, 2023

Table of Contents Types of dump truck loans and financing options How to qualify for dump truck financing Looking at leasing a dump truck, rather than buying? Dump truck loans for a better business Dump trucks are a key, critical tool from industries like infrastructure all the way to construction—and that’s just the tip of the iceberg.

Credit Scoring 40

Credit Scoring Deductions Small Businesses 40

Lendio

OCTOBER 12, 2023

million businesses in the U.S., If you’re a veteran looking to build a business from the ground up, then hold your head high—the odds are in your favor. And fortunately for you, there are concrete fiscal benefits to running a veteran-owned small business, and we want to help you take advantage of all of them.

Small Businesses 52

Small Businesses Nonprofit Organizations 52

Credibly

JULY 26, 2023

Being a part of the entertainment industry can have its highs and lows because as a business owner, you are always looking for the next best way to keep your patrons happy and amused. We explore 6 different funding opportunities that are available today that could create an impact on your businesses’ growth.

Credit Scoring 40

Credit Scoring Small Businesses 40

Abrigo

FEBRUARY 5, 2021

Moves to validate applicants create complaints The SBA is urging patience as it works to assist lenders with resolving "holds" on applications. Takeaway 2 SBA officials have asked lenders and borrowers to remain patient as they work to resolve issues and have tried to reassure them funds won't run out quickly. New Guidance Out.

Credit and Collections 78

Credit and Collections Credit Risk Small Businesses 78

Abrigo

DECEMBER 2, 2021

Takeaway 2 Excess budget funds can also be used to help mitigate risk in areas such as the BSA department or loan review. But impulse buying – whether at home or in business – can result in waste, so think carefully about areas of your bank or credit union that could benefit next year from a small investment as 2021 draws to a close.

Credit Unions 78

Credit Unions Credit Risk CECL Transactions 78

Abrigo

JULY 5, 2020

Key Takeaways Credit unions participating in the Paycheck Protection Program (PPP) found that the right technology helped them serve business members when they needed help and also gain new members. CUs came through for businesses in PPP. Technology can facilitate delivery on credit unions' brand promise of relationship-based services.

Credit Unions 78

Credit Unions Credit and Collections Credit Risk Small Businesses 78

Lendio

DECEMBER 13, 2022

Every small business owner looking for financing should understand the fundamental differences between a business line of credit and a term business loan. At the same time, these funding solutions serve very different business needs. What is a Business Term Loan? Term Loan Requirements.

Small Businesses 52

Small Businesses Credit Scoring Transactions Credit Application 52