Know-It Global

JUNE 29, 2023

When a company goes insolvent the chances of recovering any money you’re owed from this particular business are extremely slim. This will give you a clear indication as to how exposed to risk your business currently is. In fact, you should do this every time a business places a new order, whether they’re a new or existing customer.

Credit Scoring 98

Credit Scoring Default 98

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. T he following best practices address the top AML concerns specific to credit unions.

Credit Unions 88

Credit Unions Trust Companies Transactions 88

Abrigo

OCTOBER 16, 2023

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. T he following best practices address the top AML concerns specific to credit unions.

Credit Unions 78

Credit Unions Trust Companies Transactions 78

Know-It Global

APRIL 26, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. Set credit limits based on the customer’s creditworthiness and payment history.

Credit Risk 98

Credit Risk Bad Debt Credit and Collections Default 98

Lendio

OCTOBER 17, 2023

We understand that running a business can be tough and that additional capital can make a huge difference. It’s completely understandable that obtaining a business loan may seem overwhelming, but we’re here to help make the process easier for you. Let’s learn how to get a business loan. Ready to find out more?

Credit Scoring 98

Credit Scoring Credit Unions Small Businesses Transactions 98

Know-It Global

JULY 26, 2023

Efficient management of debtor days is crucial for businesses seeking to maintain a healthy cashflow. By implementing effective strategies to reduce debtor days, you can enhance your business’s financial stability and improve overall profitability. Check-it business credit reports are powered by Creditsafe!

Electronic Funds Transfer 98

Electronic Funds Transfer Credit and Collections Debt Collections Bad Debt 98

Know-It Global

APRIL 13, 2023

Late payments are crippling businesses all over the UK with 52% of businesses experiencing late payment , and 25% reporting increased instances of late payment in 2022. Accountancy software company Xero recently published a report showing the average time taken for small businesses to be paid rose by 1.4

Credit and Collections 97

Credit and Collections Days Sales Outstanding Credit Scoring DSO 97

Lendio

APRIL 23, 2024

Starting a new business can be an exciting journey, but it also comes with its own set of challenges. As a small business owner with poor credit, it can be even more difficult to find the financing you need. Getting a business loan with no credit. Getting a business loan with no credit.

Credit Scoring 52

Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 52

Lendio

APRIL 27, 2023

An under-capitalized business will find it difficult to make the leap required to scale and expand. A clear first step to lining up outside capital is to determine whether equity investment or debt financing (or a combination of the two) might be the best route for your business. your credit limit). What Is Equity Financing?

Credit Reporting Agencies 92

Credit Reporting Agencies Deductions Default Small Businesses 92

Know-It Global

APRIL 19, 2023

2,457 businesses in England & Wales entered liquidation, an increase of 16% year on year. These 2,115 businesses were all placed into liquidation due to not being able to pay their creditors for outstanding invoices. This is why following solid credit control processes are so important.

Bad Debt 98

Bad Debt Credit and Collections Credit Risk Credit Management 98

Know-It Global

DECEMBER 5, 2023

You can now receive live credit management updates via the app so you are always kept in the know. Get notified about changes to your customer’s credit report, alerts to potential customer risks including liquidations or insolvencies and get live updates on your commercial debt recovery cases on the go! Updates to Know-it!

Credit Management 111

Credit Management 111

Lendio

MARCH 22, 2024

For decades now, it’s been a game of catch-up for women in business—and they’ve gained a lot of ground. From 2019 to 2023, the number of new women-owned businesses grew at nearly double the rate of businesses owned by men. How many women-owned businesses are there in the U.S.? What industries do women start businesses in?

Small Businesses 52

Small Businesses 52

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

The Red Spectrum

MAY 9, 2023

A high credit score is necessary in today’s society to obtain credit, loans, and other financial services. It is a sign of a person’s credit history and how likely they are to repay loans they have taken out. Bankruptcies, defaults, and late payments can all significantly lower your credit score.

Credit Scoring 67

Credit Scoring Bankruptcy Default 67

Know-It Global

AUGUST 9, 2023

One of the challenges businesses face is managing trade debtors, as unpaid invoices can significantly impact cashflow and hinder growth. The most effective way to maximise cashflow is by enhancing your credit control process ! This can include various payment methods, such as credit cards, online payments, or direct bank transfers.

Credit and Collections 98

Credit and Collections Credit Management 98

Abrigo

MARCH 3, 2022

By leveraging their strengths in relationship lending and their access to technology in order to grow the small business loan portfolio profitably. CFIs are poised to regain the small business lending market Community Financial Institutions can leverage technology to improve customer experience and regain the small business lending market.

Small Businesses 78

Small Businesses Credit Risk Transactions 78

Abrigo

MARCH 15, 2022

Offering Digital Consumer and Commercial Accounts Benefits Financial Institutions Banks and credit unions that enable online/digital account opening win new customers and members and retain existing ones. . Business owners, especially, don’t want to take time away from their revenue-generating businesses to handle such a task in person.

Credit Unions 78

Credit Unions Credit Risk Small Businesses Transactions 78

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

Due

FEBRUARY 28, 2023

It doesn’t matter whether you want an expense tracker app that captures all your transaction data easily, an expense tracking app that automates your job expense reporting process, or one that requires you to manually enter each transaction, there are apps out there for everyone. Pay attention to bill due dates and payments.

Credit Scoring 98

Credit Scoring Transactions 98

The Red Spectrum

APRIL 13, 2023

A business credit score is a numerical representation of a company’s creditworthiness. Credit bureaus calculate it based on the company’s credit history, payment behavior, and other financial data. Having a good business credit score is crucial for several reasons.

Credit Scoring 78

Credit Scoring Credit Reporting Agencies Small Businesses 78

Know-It Global

JULY 5, 2023

Maintaining a healthy cashflow through credit control is crucial for the long-term success and sustainability of any enterprise, especially against the backdrop of soaring insolvencies and record instances of late payment. One effective strategy for achieving this goal is to implement a robust credit control system.

Bad Debt 52

Bad Debt Credit and Collections Debt Collections Credit Risk 52

Know-It Global

MARCH 21, 2023

A business credit report is a powerful tool at your disposal that will allow you to get a glimpse into the financial shape of your customers, helping you make smarter credit decisions. It can also help you identify areas of improvement in your own business that will make you more favourable to lenders and suppliers.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit and Collections Credit Risk 52

Lendio

MAY 24, 2023

Growth happens when you spend your money in the right way to allow your business to make more cash. On the other hand, failure follows when you consistently spend your money in the wrong way and your business loses cash as a result. Your business is on a tight budget. You don’t particularly like numbers (especially math).

Small Businesses 52

Small Businesses Transactions 52

Know-It Global

NOVEMBER 10, 2022

Thinking about outsourced credit control? Credit control is the solid foundation that a finance team should be built around. How else can your business pay its expenses if you’re not being paid for the work you’ve done?! Outsourced credit control. It’s a position too many businesses find themselves in too often.

Credit Management 98

Credit Management Credit and Collections 98

Due

FEBRUARY 6, 2023

In spite of this, Financial Industry Regulatory Authority (FINRA) reports that 66% of Americans suffer from financial illiteracy. In addition to student loans, mortgages, credit cards, investments, and health insurance, financial literacy affects many aspects of life. As a result, personal economic distress is reduced.

Credit Scoring 115

Credit Scoring Default Bankruptcy 115

Know-It Global

JUNE 28, 2023

In today’s fast-paced and interconnected world, credit control has become a vital aspect of financial management for businesses. Traditionally, credit management involved manual processes and relied heavily on human intervention, which often proved time-consuming and prone to errors.

Credit Scoring 52

Credit Scoring Credit and Collections Bad Debt Credit Management 52

Lendio

JUNE 6, 2023

Setting up a business isn’t an easy feat. Bank, as quoted in this Business Insider article, 82% of businesses fail mainly because of poor cash management. Cash is the lifeblood of your business, and no matter what your profits are, your actual cash will be the thing that keeps your business up and running.

Credit Scoring 52

Credit Scoring Credit and Collections Bankruptcy Transactions 52

The Red Spectrum

MAY 4, 2023

Starting a small business is an exciting venture, but it can also be a daunting task. One of the most significant hurdles for small businesses is securing funding. However, with sufficient funds, getting a business off the ground and sustaining it can be more accessible.

Small Businesses 52

Small Businesses Credit Scoring 52

Prosper

JANUARY 4, 2023

Did you start a business, cash out a 401(k) , or have a child? The Internal Revenue Service reports that more than 80 million taxpayers used paid professionals to complete and submit their tax returns last year. IRS Free File. Some great options to use your refund include: Pay off credit cards or other debt.

Medical Billing 98

Medical Billing Deductions 98

Skogen Capital Lending

SEPTEMBER 26, 2022

Business loans can help launch or expand a business. Unfortunately, it’s often difficult for new businesses to get this type of funding. In this blog, we’ll explain the top 8 things that could be stopping you from getting a small business loan. 8 Reasons You Can’t Get a Small Business Loan.

Small Businesses 52

Small Businesses Credit Scoring Credit Reporting Agencies Credit Unions 52

Due

MARCH 15, 2024

As of July 2023 — sixty-one percent of consumers were living paycheck to paycheck , according to the New Reality Check: The Paycheck-to-Paycheck Report. The good news is that you can break free of the “broke” cycle with actionable steps and the right mindset. You should even do the same for credit card rates.

Credit and Collections 52

Credit and Collections Brokerages Credit Unions Deductions 52

Know-It Global

AUGUST 16, 2023

International debt recovery can be a challenging process for businesses. This guide provides a step-by-step approach to help businesses navigate the complexities of international debt recovery and increase your chances of successful recovery. Use credit reports, trade references, and online resources to gather information.

Credit and Collections 52

Credit and Collections Transactions 52

Abrigo

AUGUST 6, 2021

Acquisitions allow organizations to spread costs across a larger asset base, recognize synergies within business lines, reduce staff, and consolidate branches in overlapping markets. Community banks are critical to ag lending and small business lending. Background on Community Banking. In fact, one in five U.S. Relationship Banking.

Credit Risk 78

Credit Risk Credit Unions Small Businesses 78

Know-It Global

NOVEMBER 6, 2023

Know-it, the all-in-one credit control solution, is making waves once again with the release of our new mobile app. Now users will receive live credit management updates via the app so you are always kept in the know. The arrival of Know-it has come at a critical time for businesses.

Credit Management 52

Credit Management 52

Due

NOVEMBER 16, 2023

An OppLoans survey , which was conducted in 2022, reported that 73% of Americans fail to adhere to a budget regularly. Several budgeting apps can automatically download transactions and categorize spending by integrating with your bank account and credit cards. You can learn languages for free on a variety of apps and websites.

Nonprofit Organizations 64

Nonprofit Organizations Credit Unions Transactions 64

Abrigo

NOVEMBER 9, 2020

Key Takeaways Effective loan administration will protect margins and balance sheets at banks and credit unions as they handle the effects of the pandemic-induced economic crisis. As a result, some variations in processes and loan administration systems among credit unions and banks is expected. stay informed.

Credit Unions 78

Credit Unions Credit Risk CECL 78

Abrigo

SEPTEMBER 2, 2020

Since the coronavirus outbreak, almost half of banking customers have reported changing how they interact with their financial institutions, leveraging new channels like online and mobile banking, according to an FIS survey. These findings are true among all generations surveyed. This is fairly new territory to many institutions, however.

Credit Unions 103

Credit Unions Credit Risk 103