Abrigo

MARCH 13, 2024

How to respond to CRE loan distress Use these tips for banks and credit unions to identify and handle commercial real estate loans that are showing signs of being problem CRE credits. Takeaway 1 Engaging the bank or credit union loan workout team or an outside expert can help restore CRE loans in distress or mitigate their impact.

Credit Unions 88

Credit Unions CECL Default Credit Risk 88

RMAi Blog

MAY 3, 2023

Landmark Strategy Group community outreach is led by Western New York native, Mark Lesinski, Co-Founder and Director of Business Development at Landmark , who believes that no act of kindness is ever too small. Landmark Strategy Group’s donation will support these essential services and further FeedMore WNY’s impact on the community.

Nonprofit Organizations 100

Nonprofit Organizations Credit Unions Bankruptcy Credit and Collections 100

Lendio

MAY 6, 2024

However, there are still plenty of small businesses that operate exclusively in cash—and will continue to do so for years to come. Banks, credit card companies, and financial media outlets will tell you that you should definitely accept credit cards as a small business. Why accept credit cards?

Credit Card Payments 52

Credit Card Payments Small Businesses Credit and Collections Transactions 52

SAP Credit Management

FEBRUARY 7, 2023

My previous post focused on the baseline process around import of bank statements in Fiori. This post explores additional enhancements that are necessary if you want to upload bank statements in bank specific formats e.g., XML, CSV, JSON etc. you can configure SAP to upload bank statements in any structured format.

Transactions 127

Transactions 127

Your Virtual Credit Manager

SEPTEMBER 19, 2023

Most businesses put up with customers that are chronic slow payers. This is essentially a “do nothing” option and seldom works. Please feel free to share this newsletter with your small business customers. An Irrevocable Letter of Credit (LC) confirmed by a solid bank, with your firm named as the beneficiary.

Credit and Collections 130

Credit and Collections Bad Debt Default Credit Risk 130

Sky Business Credit

JUNE 29, 2023

Joe’s* business performs collections of past-due utility bills for a large city. For years , he and his bank managed this mismatch through overdrafts. For years , he and his bank managed this mismatch through overdrafts. His bank essentially fronted the money, and Joe paid for this “financing” through overdraft fees.

Credit and Collections 105

Credit and Collections 105

SAP Credit Management

JULY 28, 2023

In the ever-evolving landscape of business operations, efficiency, accuracy, and cost-effectiveness are paramount. This innovative product revolutionizes the way businesses handle invoice processing, providing a comprehensive and centralized platform for managing invoices.

124

124

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

RMAi Blog

MARCH 22, 2023

NORFOLK, Va. – PRA Group is pleased to announce that Tim Kirk, country operations director for the company’s UK business, has been appointed to the Credit Services Association Board of Directors. The returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe, and Australia.

Credit and Collections 130

Credit and Collections Debt Collections 130

Credibly

FEBRUARY 2, 2024

Table of Contents How can I use capital in my business? Common sources of capital for businesses Where to get sources of capital The future of your business, built better—with Credibly In business, capital plays a crucial role in determining success. What are the two top sources of financing for small businesses?

Invoice Amount 52

Invoice Amount Credit Scoring Credit and Collections Small Businesses 52

Due

APRIL 15, 2024

America’s small businesses face unprecedented challenges. Small business bankruptcy filings increased 78% over the past year, driven by impending changes to bankruptcy law and ongoing uncertainty about the overall economic outlook. As a business owner, you indeed wish things could be easier. Not sure where to begin?

Small Businesses 84

Small Businesses Bankruptcy Credit and Collections Business Bankruptcy 84

Abrigo

DECEMBER 18, 2023

Stress testing, monitoring are essential Financial institutions should challenge assumptions about CRE risk while also watching for red flags as they manage the CRE portfolio. WATCH Takeaway 1 Banks and credit unions are critical sources of capital for businesses in their communities, so how institutions assess CRE credits matters.

Credit Unions 88

Credit Unions Credit Risk Insurance Companies Small Businesses 88

Abrigo

AUGUST 7, 2023

Assessing and preparing for staffing needs AML and fraud compliance is an essential obligation for financial institutions. If a staffing needs assessment uncovers a deficit, it is time to build a business case for senior management to increase your current headcount.

Credit Unions 78

Credit Unions 78

Due

AUGUST 10, 2023

It’s, therefore, essential to teach your kids earlier than later about important personal finance concepts that will earn them extra wealth in the long run. Concepts like insurance, mortgages, and inflation may be incredibly confusing to a child, but they’re essential to developing financial independence.

Credit Scoring 91

Credit Scoring 91

Lendio

APRIL 23, 2024

ACH payments, which launched in 1974, have become such a common part of modern life that most people don’t even think about the mechanism that moves money in and out of their bank accounts. Essentially, it is the method banks use to send money between accounts electronically. What are Automated Clearing House (ACH) transactions?

Transactions 52

Transactions Small Businesses Electronic Funds Transfer Credit and Collections 52

NorthOne

JUNE 4, 2023

As a business owner, it is important to understand the concept of a business account and its significance in managing your finances. A business account is essentially a bank account that is specifically designed to meet the financial needs of a business. What is a Business Account?

Credit and Collections 52

Credit and Collections Transactions Credit Unions Credit Scoring 52

Due

FEBRUARY 7, 2024

Why AI and ML Are Essential for Debt Recovery Debt grows out of control as people’s priorities shift, interest rates hit historic highs, and the cost of living rises. Are you wondering why banks need AI and ML? It improves business outcomes significantly by providing data-driven insights and increasing repayment chances.

Credit and Collections 124

Credit and Collections Credit Scoring Bankruptcy 124

Biz2X

FEBRUARY 20, 2024

Reading Time: 3 minutes For banks and financial institutions contemplating the launch of an SBA loan program , understanding the nuanced expectations of potential borrowers is essential. Transparent communication from banks not only builds trust but also empowers businesses to make informed decisions.

Small Businesses 52

Small Businesses Transactions 52

Team Financial Group

AUGUST 2, 2023

Facing rejection from a bank for equipment financing can be disheartening and frustrating, especially when you have a solid business plan and a clear vision for your company’s growth. However, a bank’s decision to decline your loan application should not be the end of your pursuit.

Transactions 98

Transactions 98

Abrigo

OCTOBER 16, 2023

As a Bank Secrecy Act (BSA) Officer, navigating Anti-Money Laundering (AML) concerns has exposed me to the intricacies of safeguarding these institutions. It is important to conduct due diligence measures on business members as well as personal members to ensure your credit union understands the true nature of the business.

Credit Unions 88

Credit Unions Trust Companies Transactions 88

Biz2X

FEBRUARY 7, 2023

With the rise of fintech and digital transformation, financial institutions across the globe are bracing for increased competition as more fintech companies, community banks, and commercial banks employ increased automation to deliver a better customer experience.

Credit Unions 104

Credit Unions Cost to Serve Transactions 104

NorthOne

JUNE 9, 2023

As a trucker, managing your finances and banking needs can be challenging, especially if you are constantly on the move. However, choosing the right bank that caters to your unique needs can make all the difference. What are the Unique Banking Needs of Truckers? What are the Unique Banking Needs of Truckers?

Credit Unions 52

Credit Unions Medical Billing Small Businesses 52

Biz2X

NOVEMBER 30, 2023

Reading Time: 4 minutes Banks today are facing an increasingly challenging environment. The aftermath of recent bank failures has impacted business confidence, leading to a shift in customer loyalty, with many moving their business banking to larger institutions.

Default 52

Default Small Businesses 52

Biz2X

NOVEMBER 30, 2023

Reading Time: 4 minutes Banks today are facing an increasingly challenging environment. The aftermath of recent bank failures has impacted business confidence, leading to a shift in customer loyalty, with many moving their business banking to larger institutions.

Default 52

Default Small Businesses 52

Biz2X

SEPTEMBER 7, 2023

Reading Time: 3 minutes From the CEO’s Desk is a new feature article series on the  Biz2X business lending platform blog. In the past, large banks have been hesitant to do SBA lending. As SBA is digitizing their workflows and approval processes, they are becoming more attractive and practical for big banks to work with.

Transactions 52

Transactions Small Businesses 52

Biz2X

SEPTEMBER 7, 2023

From the CEO’s Desk is a new feature article series on the  Biz2X business lending platform blog. In the past, large banks have been hesitant to do SBA lending. As SBA is digitizing their workflows and approval processes, they are becoming more attractive and practical for big banks to work with. It’s time for that to change. 

Transactions 52

Transactions Small Businesses 52

The Red Spectrum

MAY 8, 2023

Small businesses are the backbone of the economy. However, starting and running a business requires much capital. As a result, most entrepreneurs depend on small business financing to get their ventures off the ground. In recent years, the small business financing landscape has undergone significant changes.

Small Businesses 96

Small Businesses Credit Scoring Credit and Collections Transactions 96

Skogen Capital Lending

MAY 16, 2023

When snow or rain hits, many companies struggle to reach their customers and maintain business. Food Delivery As a business owner, you may own a fleet of vehicles to service your clients. This activity can increase their orders and multiply their cash flow, which can be essential during a slow period of the year.

98

98

Due

SEPTEMBER 11, 2023

Introduction to Personal Finance by Coursera (University of California, Irvine) This course provides a comprehensive introduction to personal finance topics such as budgeting, banking, credit, debt management, insurance, and investing. Gautam Kaul, a finance professor at the Ross School of Business at Michigan University.

Credit Scoring 105

Credit Scoring 105

Collenda

APRIL 9, 2024

Compliance Topics that keep CROs awake at night – Part 2: The Price Tag of ESG Frank Elderson of the ECB Board sounds a clear alarm: Neglecting compliance and ethics risks not only undermines sound risk management but also casts doubt on the fitness and propriety of bank ing leaders.

Default 40

Default Credit Risk 40

Abrigo

OCTOBER 16, 2023

As a Bank Secrecy Act (BSA) Officer, navigating Anti-Money Laundering (AML) concerns has exposed me to the intricacies of safeguarding these institutions. It is important to conduct due diligence measures on business members as well as personal members to ensure your credit union understands the true nature of the business.

Credit Unions 78

Credit Unions Trust Companies Transactions 78

Biz2X

JANUARY 30, 2024

Reading Time: 3 minutes The digital transformation of the banking industry has streamlined the customer experience such that online or mobile banking is the preferred choice of 78% of customers. In a digital world where credit is preferred, brick and mortar banks simply do not provide the same utility for all that they once did.

Transactions 52

Transactions 52

NorthOne

NOVEMBER 30, 2023

But, as with any business, this dream comes with a price tag. Regulatory compliances— from health and safety permits to business and cosmetology licenses—can accumulate costs. Let’s look at what getting fully equipped entails from a cost standpoint: Essential equipment. So, just how much does it cost to open a salon?

Small Businesses 52

Small Businesses 52

Abrigo

MAY 19, 2023

Takeaway 3 Consider how much your bank or credit union's resources can support while meeting regulatory expectations. Although smaller institutions are not expected to maintain separate loan review departments, it is essential that every institution have an effective loan review system.

Credit Risk 78

Credit Risk Credit Unions Credit and Collections Small Businesses 78

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. How can you secure the financing you need without breaking the bank or risking your business assets? We will also share some tips on how to use your financing wisely and avoid common pitfalls.

Nonprofit Organizations 73

Nonprofit Organizations Credit Scoring Credit and Collections Credit Unions 73

Eagle Business Credit

NOVEMBER 29, 2023

Banks are also tightening their lending criteria as expected during times of economic uncertainty. When the economy takes a downturn possibly to recession, there is a strong working capital solution for small businesses available: Invoice Factoring. Creditworthiness not required We don’t scrutinize your business or personal credit.

Small Businesses 96

Small Businesses Credit Scoring 96

Abrigo

DECEMBER 19, 2022

Checklist: Ensuring AML compliance for mergers and acquisitions The higher interest rates from the Federal Reserve have dampened banking merger and acquisition activity in 2022, but deal drivers remain strong. MainStreet Bank overcame staffing challenges. Keep me informed. Read the case study.

Credit Unions 78

Credit Unions 78