Abrigo

MAY 8, 2024

A common example of a generative AI-driven tool that many in the financial services industry are familiar with is ChatGPT, which can produce coherent and diverse texts on various topics. Another example of using predictive AI is small business lending software that incorporates AI-driven lending intelligence.

Credit Unions 78

Credit Unions Cybersecurity CECL Credit and Collections 78

Abrigo

APRIL 22, 2024

Recent dynamics of the small business lending market A deep understanding of the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. You might also like this guide for smarter, faster small business lending. Record new business formation and a wider gap between U.S.

Credit Unions 97

Credit Unions Small Businesses Credit and Collections Credit Risk 97

Abrigo

FEBRUARY 6, 2024

Develop an MBL program while mitigating risk Credit unions looking for alternate paths to growth in today's rising rate environment may be primed to leverage member business lending. Takeaway 3 The specific policy areas outlined below should be carefully considered by credit unions engaged in member business lending.

Credit Unions 88

Credit Unions Credit Risk Small Businesses 88

Due

FEBRUARY 7, 2024

Although you probably haven’t noticed any changes yet — these technologies are already having a massive impact on the finance industry. Now more than ever, loans are becoming delinquent. 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

Lendio

MARCH 25, 2024

What’s considered a “good” range varies across industries—restaurants average a slim 6–8 %, whereas the advertising and public relations industry averages a more generous 11–20%. Profit margins are key performance indicators that can help you make strategic decisions to keep your business profitable and healthy.

Small Businesses 98

Small Businesses 98

Abrigo

OCTOBER 10, 2023

How industry analysis can improve your credit risk management Understanding your customers' businesses leads to better loan pricing, structure, and risk management. WATCH WEBINARS Takeaway 1 All businesses perform industry analysis, but financial institutions in particular must know their customers' competitive landscape.

CECL 78

CECL Credit Risk Credit Unions Small Businesses 78

RMAi Blog

MARCH 22, 2023

– 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  The Credit Services Association (CSA) is the national trade association in the UK for organizations active in the debt collection and purchase industry. The

Credit and Collections 130

Credit and Collections Debt Collections 130

Lendio

MAY 3, 2024

A business credit score works similarly, except instead of evaluating your risk as an individual, financial institutions evaluate your business’s viability. Like personal credit , business credit takes time to build. What is a business credit score? Business credit score benefits.

Credit Scoring 94

Credit Scoring Credit and Collections Bankruptcy Transactions 94

Lendio

DECEMBER 8, 2023

Navigating the world of small business financing can seem like a daunting task, especially when you’re just getting started. One of those resources is small business grants, essentially free money that you don’t have to pay back. But don’t fret—there are resources available to help you on your journey.

Small Businesses 98

Small Businesses Credit Scoring 98

Due

FEBRUARY 5, 2024

The unraveling of Silicon Valley Bank and the looming threat to regional banks In the recent past, the banking industry has been subjected to intense scrutiny, with regional banks bearing the brunt of the pressure. Firstly, they may lend it out, offering mortgages to individuals for home purchases or businesses for factory construction.

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95

Lendio

APRIL 30, 2024

Running a small business often means navigating a financial landscape where debt is vital to growth and sustainability. However, managing business debt can be a double-edged sword. Understanding when to use business debt. When managed properly, it can help your business take advantage of opportunities and grow.

Small Businesses 59

Small Businesses 59

Abrigo

DECEMBER 29, 2023

Abrigo's most popular whitepapers and checklists on lending and credit risk Abrigo experts' insights on CFPB 1071, loan policies, and risk ratings were popular with banking professionals. have been working hard to make sure the loans they have and the loans they approve are in line with risk appetites.

Credit Risk 88

Credit Risk Credit Unions Credit and Collections Small Businesses 88

Abrigo

MARCH 14, 2024

Most bankers are adept at reactive servicing—when a customer calls with a request, they're quick to respond, especially if they've eliminated manual processes with small business loan origination software. For customers who have one piece of business and may not be paying a lot, you may not go out of your way to retain them.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Lendio

APRIL 11, 2024

For small businesses, the margin of error is much thinner. But if you get it right, wow, can your small business hit the jackpot. Read through this guide, and you’ll find all the answers you need to make the best acquisition decisions for your business. Organic business growth can be painfully slow. Accelerate growth.

Small Businesses 98

Small Businesses Bankruptcy Credit Scoring Transactions 98

Your Virtual Credit Manager

OCTOBER 3, 2023

Please feel free to share this newsletter with your small business customers. Common factors include industry, geography, sales volume, company revenue, and so on — virtually anything that can be used to differentiate segments of customers. An entire industry became a poor credit risk virtually overnight.

Bad Debt 130

Bad Debt Accounts Receivable (AR) Credit Risk Credit and Collections 130

Your Virtual Credit Manager

FEBRUARY 20, 2024

(Photo by Carlos Muza on Unsplash ) A Framework for Choosing Suitable AR Metrics Businesses should carefully assess their specific needs, objectives, and operating context when selecting metrics for accounts receivable (AR) performance measurement. We are currently offering 33 percent off our standard small business consulting rates.

DSO 130

DSO Days Sales Outstanding Credit and Collections Accounts Receivable (AR) 130

Lendio

NOVEMBER 10, 2023

Have you always dreamed of owning your own business, but don’t want to start from scratch? One option is to buy an existing business. This is where a Small Business Administration (SBA) loan comes in handy. In this blog post, we will discuss how to use an SBA loan to buy an existing business.

Credit Scoring 96

Credit Scoring Credit Unions Small Businesses 96

SAP Credit Management

SEPTEMBER 1, 2023

Getting access to capital to grow a midsize business isn’t always easy and doesn’t come cheap. Banks and other financial institutions reward businesses with environmental, social and governance (ESG) strategies by giving them lower interest rates and other advantages, a practice called sustainable finance.

Credit and Collections 167

Credit and Collections Credit Risk Transactions 167

Abrigo

DECEMBER 18, 2023

WATCH Takeaway 1 Banks and credit unions are critical sources of capital for businesses in their communities, so how institutions assess CRE credits matters. Takeaway 3 Loan-level stress testing can help assess repricing risk, while capital stress testing helps clarify the impact of CRE loan losses on capital.

Credit Unions 88

Credit Unions Credit Risk Insurance Companies Small Businesses 88

Abrigo

FEBRUARY 16, 2024

Introduction The importance of efficient credit administration Credit departments play a crucial role in the financial industry, and it is important to ensure that they are functioning at their best. For many businesses, especially those in real estate or agribusiness, the fiscal year may differ.

Credit Risk 78

Credit Risk CECL Credit Unions 78

RMAi Blog

MARCH 31, 2023

By Audience: Kids Young Adults College Students & New Grads Couples Adults Parents Service Members Business Seniors By Topic: Credit & Debt Savings & Budgeting Expenses Credit Score Loans Investments Vehicle Housing Retirement “RMAI is committed to consumer financial education, during Financial Capability Month and throughout the year.

Credit and Collections 130

Credit and Collections Credit Scoring 130

Lendio

MARCH 19, 2024

It’s an oft-repeated sentiment, but it’s that “spend money” part where a lot of businesses get stuck. When you’re just getting your business idea off the ground and are pinching every last penny, accessing the capital you need to gain momentum can be a major and frustrating roadblock. Do you need $10,000 to get your business going?

Small Businesses 98

Small Businesses Nonprofit Organizations 98

RMAi Blog

FEBRUARY 9, 2023

He has spent 12 years in the Financial Services Industry. Over those five years, he worked in credit analysis, managed a $30MM commercial lending portfolio, managed and worked out non-performing loans, and was responsible for business development. Roskam, Acctcorp International, Inc/Accounts Receivable, Inc.,

Law Firms 130

Law Firms Credit and Collections Debt Collections 130

Your Virtual Credit Manager

FEBRUARY 13, 2024

Historically, business failures increase after a recession. Photo by Russ Ward on Unsplash ) In the meantime, high borrowing costs and reduced consumer spending are causing problems as illustrated by the layoffs in the tech industry. commercial mortgage bank security (CMBS) office loan delinquencies to jump to 8.1

Bankruptcy 130

Bankruptcy Credit and Collections Bad Debt Accounts Receivable (AR) 130

Due

MAY 10, 2024

Retirement opens opportunities to transition into a new career or business you are passionate about. As with any business venture you may undertake — do your due diligence. The livestock industry offers many benefits. Running a livestock business can be a rewarding and profitable endeavor.

Deductions 52

Deductions 52

Abrigo

OCTOBER 19, 2023

Abrigo has been awarded a G2 “Leader” badge award for its loan origination and anti-money laundering solutions. Along with these recognitions, Abrigo won “Best Support” and “Easiest to Do Business With” badges for its loan origination platform. What is a G2 award, and why is Abrigo so proud of this win?

Credit Risk 88

Credit Risk 88

RMAi Blog

MARCH 2, 2023

After a decade of protecting the receivables industry and consumers through advancing comprehensive and uniform standards of best practice, it seemed to be an appropriate time to do the same for commercial loans as we launch into our second decade of certification.” From Version 1.0 to Version 11.0, For more information on version 11.0,

Law Firms 130

Law Firms 130

Due

SEPTEMBER 30, 2023

For most prospective small business owners, many of the costs of running a business are clear from the beginning of the process. According to the latest data from the US Bureau of Labor Statistics , a staggering 90% of startup businesses ultimately fail in the long run. Typically, a small amount of shrinkage is unavoidable.

Small Businesses 119

Small Businesses Transactions Deductions Credit Scoring 119

Abrigo

APRIL 2, 2024

Stand-ou t bank business strateg ies for lending success These bank business strategies will help you market, target, add value to your lending services and build lasting relationships with your borrowers. Lending is a competitive and challenging industry, requiring constant innovation to attract and retain customers.

Credit Risk 68

Credit Risk Credit and Collections Credit Unions Small Businesses 68

SMB Commercial Lending

OCTOBER 17, 2023

2023 Update: SBA Loans for Business Expansion In a bid to stimulate business growth, the #SmallBusinessAdministration (SBA) has officially affirmed that no equity infusion or #SellerFinancing is mandatory when purchasing a company that shares the same NAICS code as the buyer's current business in the same geographical area.

Transactions 98

Transactions 98

Commercial Lending

SEPTEMBER 19, 2023

On top of that, many Banks have loan portfolios with fixed rates locked in well below current Fed interest rates, which are putting stress on net interest margins. A Growing Number of Problem Loans – Many lenders are seeing the number of problem loans start to spike up.

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97

Lendio

DECEMBER 13, 2023

Are you a small business owner looking for financing options? A business loan broker might be able to help. In this article, we’ll explain what a business loan broker is, the types of brokers available, and how they can help you find the financing you need to grow your business.

Small Businesses 98

Small Businesses 98

Abrigo

NOVEMBER 12, 2023

Support credit risk management Understanding loan covenants, when financial institutions should use them, and how to monitor them supports strong lending portfolios and credit risk management best practices. Takeaway 2 Capital, performance, and administrative covenants are common with business loans.

Credit Risk 88

Credit Risk Credit Unions Default CECL 88

Credit Management Group UK

APRIL 21, 2024

The best way of avoiding credit control issues in your business is to ensure that you are paid in full before providing any goods or services. The majority of B2B businesses offer credit terms to their customers. Offering credit to customers does have cost implications to a business and you should be mindful of what those costs are.

Bad Debt 87

Bad Debt Credit and Collections Credit Management 87

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

Abrigo

DECEMBER 22, 2023

Watch NOW Takeaway 1 Portfolio risk and accounting professionals often keep up to date on industry trends by reading Abrigo's blog. Loss given default (LGD) expresses the expected loss as a percentage and is unique to the industry or segment. The FASB’s description of proposed changes can be found here.

CECL 88

CECL Credit Unions Default Credit Risk 88

Eagle Business Credit

DECEMBER 14, 2023

If you are running a small business, you’ve probably found yourself in a frustrating, but very common situation. You may find that your business is running low on cash. If you are thinking about taking out a loan or cash advance, you may have heard of factoring companies that provide these types of services.

Credit and Collections 98

Credit and Collections Small Businesses 98