Fundera

SEPTEMBER 22, 2017

This guest article was written by Kanishka Khanna, a risk analyst for BlueVine, where he oversees a portfolio of thousands of small and medium-sized businesses. Coming from a family of entrepreneurs, Kanishka believes pure grit and access to working capital separate small business owners from giants of industry.

Small Businesses 62

Small Businesses Credit Card Payments 62

Fundera

OCTOBER 8, 2019

8 Best Credit Unions for Small Business Owners in 2019. America First Credit Union. Alliant Credit Union. Navy Federal Credit Union. First Tech Federal Credit Union. Self-Help Credit Union. Consumers Credit Union. Digital Federal Credit Union. Boeing Employees Credit Union.

Credit Unions 81

Credit Unions Small Businesses Credit Card Payments Transactions 81

Fundera

SEPTEMBER 13, 2016

If you’re a small business owner on the hunt for business loans , you probably know the deal with traditional banks: big banks just don’t lend to small businesses. More than 80% of banks reported that they tightened their lending standards for small businesses after the recession. That’s partly true.

Small Businesses 104

Small Businesses Credit Scoring Credit and Collections Credit Card Payments 104

Fundera

NOVEMBER 1, 2018

If you’re a small business owner trying to more effectively manage your spending, consider investing in a prepaid business debit card. Prepaid business debit card holders preload their card with however much money they want to spend, ensuring that they never go over their limit or spend more than they can afford.

Small Businesses 49

Small Businesses Credit Card Payments Credit Card Companies Credit and Collections 49

Fundera

JUNE 6, 2018

At their very best, small business loans work wonders to alleviate a business’s financial burdens. But for a business with cash-flow issues, getting a small business loan with a down payment actually adds to the stress. That’s why many borrowers hope to find no money down small business loans.

Small Businesses 89

Small Businesses Default Credit Card Payments Credit Scoring 89

Fundera

FEBRUARY 25, 2019

Accounting Methods for Small Businesses. The two primary accounting methods for small business owners are cash basis and accrual basis. Any business is free to use accrual accounting. Any business is free to use accrual accounting. Generally Accepted Accounting Principles (GAAP).

Small Businesses 74

Small Businesses Credit and Collections Credit Card Payments Transactions 74

Fundera

SEPTEMBER 16, 2018

8 Best Credit Unions for Small Business Owners in 2018. America First Credit Union. Alliant Credit Union. Navy Federal Credit Union. First Tech Federal Credit Union. Self-Help Credit Union. Consumers Credit Union. Digital Federal Credit Union. Boeing Employees Credit Union.

Credit Unions 81

Credit Unions Small Businesses Credit Card Payments Transactions 81

Fundera

OCTOBER 30, 2019

The Top Payment Processing Companies for Small Business. QuickBooks Payments. Payment Depot. Whether you run a brick-and-mortar retail store or an online-based business, you’ll more than likely need to accept a variety of payment methods—including credit cards and digital payments.

Small Businesses 73

Small Businesses Transactions Credit Card Payments 73

Fundera

SEPTEMBER 13, 2016

If you’re a small business owner on the hunt for business loans , you probably know the deal with traditional banks: big banks just don’t lend to small businesses. More than 80% of banks reported that they tightened their lending standards for small businesses after the recession. That’s partly true.

Small Businesses 92

Small Businesses Credit Scoring Credit and Collections Credit Card Payments 92

Lendio

APRIL 20, 2023

Accepting credit card payment is essential for any business. Most people have at least one credit card at all times, but can the same be said for cash? These gateways result in less control for you as a business owner and create an additional step for your customers.

Credit Card Payments 52

Credit Card Payments Credit and Collections Transactions Small Businesses 52

Fundera

FEBRUARY 13, 2019

But the following happened between the time you invoiced your client and the time they paid you: You had to make credit card payments on June 12, July 12, and August 12. You also had to pay your subcontractor on June 20 under your contract with them, and you had to draw on your revolving line of credit to do so.

Small Businesses 65

Small Businesses Revenue Recognition Credit Card Payments Transactions 65

Fundera

DECEMBER 25, 2018

Non-card types of payment you can accept are ACH transfer , electronic benefit transfer (EBT), and checks by mail or image capture. Worldpay merchant accounts allow your business to receive funds from different types of payment, including debit and credit card payments. Mobile Payments.

Small Businesses 40

Small Businesses Electronic Funds Transfer Credit Card Payments Credit and Collections 40

Your Virtual Credit Manager

JULY 25, 2023

Move your smallest customers onto credit cards at the time of purchase. Only accept credit card payments from your larger customers if they pay within 10 days of the invoice. As an incentive, you can forego a credit card surcharge, which would be roughly equivalent to offering a cash discount.

Best Possible DSO (BPDSO) 130

Best Possible DSO (BPDSO) DSO Cash Forecasting Credit and Collections 130

Fundera

JANUARY 3, 2017

As a small business owner just getting your venture off the ground, you wear many hats. You’re not only the founder of your company, but you’re its number one sales rep, the chief marketer, the go-to office manager, and oftentimes its business accountant. QuickBooks Desktop.

Small Businesses 66

Small Businesses Dashboards Transactions Credit Card Payments 66

Fundera

JANUARY 27, 2016

One of the best parts of owning a small business? Especially when it comes to your business’s financials, you want to be a perfectionist. Meanwhile, the best finance apps for small business owners are designed to let you focus on what’s most important—and leave the computing to the computers. Capital One Mobile.

Small Businesses 76

Small Businesses Credit Card Payments Credit Scoring Transactions 76

Lendio

JANUARY 10, 2023

While they look almost indistinguishable from credit cards, debit cards function essentially like cash in practice. For consumers, they’re the best of both worlds—the simplicity of credit cards coupled with the hassle-free nature of cash. Why Are Small Businesses Charged Debit Card Fees?

Credit Card Companies 52

Credit Card Companies Credit Card Payments Transactions Deductions 52

Your Virtual Credit Manager

APRIL 11, 2023

To avoid this, businesses should employ proven tactics in their collection strategies, including regular phone calls, emails or collection letters, and escalation of the matter when the debtor is not responsive. Please feel free to share this newsletter with your small business customers. Here’s more on collections.

Bad Debt 130

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

FundThrough

SEPTEMBER 29, 2022

Fintech payment companies provide services such as credit card payments, e-commerce checkout, mobile wallets, and other financial transactions. They also offer merchant accounts and other tools to help businesses accept payments.

Credit Card Payments 52

Credit Card Payments Transactions Small Businesses 52

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

NorthOne

MAY 2, 2023

Manual invoice processes can be time-consuming, error-prone, and costly for small businesses. By implementing effective processes and systems for invoice management, businesses can save time and resources, increase productivity, and improve vendor connections with digital tools like invoicing and payment processing.

Credit Card Payments 52

Credit Card Payments Small Businesses 52

Fundera

OCTOBER 30, 2018

Any small business owner who accepts credit cards should understand how credit card processing fees work. Credit card processing typically costs businesses between 1.7% When you add up credit card processing fees over time, they can really eat into your bottom line.

Credit Card Payments 73

Credit Card Payments Credit Card Companies Transactions Small Businesses 73

Lendio

MARCH 15, 2023

Overall, opening a business bank account allows small business owners to keep their business income and expenses separate from their personal finances, which is essential for reducing financial liability and staying organized for tax season.

Deductions 52

Deductions Credit Card Payments Transactions Small Businesses 52

NorthOne

JANUARY 12, 2023

Many businesses need a loan to grow or even start their business. Cash is essential to running a business and often that means supplementing with a business loan. But, for small businesses in particular, getting approved for a loan isn’t always easy. So, how hard is it to get a business loan?

Credit Card Payments 52

Credit Card Payments Small Businesses 52

Fundera

SEPTEMBER 28, 2016

As part of Fundera’s ongoing mission to make small business lending more transparent, I’m excited to announce today a partnership with Hiscox , America’s #1 online small business insurer. Plus, they’ll get our free credit score monitoring and tools to help entrepreneurs better manage their finances. .

Credit Card Payments 88

Credit Card Payments Credit Scoring Small Businesses 88

Abrigo

JANUARY 18, 2017

One simple way for advisors to get started is to begin educating owners on types of technology that can create new types of cash flow, can decelerate the flow of cash out of the business and can accelerate the flow of cash into the business. SCORE , a nonprofit association that helps small businesses in partnership with the U.S.

Days Sales Outstanding 88

Days Sales Outstanding Credit and Collections Credit Card Payments Dashboards 88

Fundera

MAY 22, 2019

When you’re beginning your small business, you may not pay a lot of mind to merchant services —aka how you’ll be processing payments. For instance, one card company or financial institution may use one term over the other; MasterCard uses MSP, while Visa uses ISO.) Processing Credit Card Payments.

Credit Card Payments 40

Credit Card Payments Transactions Small Businesses Credit Scoring 40

Fundera

MAY 2, 2019

What Are Credit Card Processing Fees? At the most basic level, credit card processing fees are the cost that a business owner pays to accept credit card payments. Generally, the average credit card processing fees range from 1.7% per transaction.

Credit Card Payments 73

Credit Card Payments Transactions Credit and Collections Small Businesses 73

Fundera

SEPTEMBER 6, 2019

So in this Payoneer review we are going to try and cut through all the extraneous information and get to the heart of just what Payoneer can offer small business owners. We’ll also provide you with some alternatives to Payoneer so you can have a better idea of the payments market. The aforementioned credit card costs $29.95

Credit Card Payments 40

Credit Card Payments Credit and Collections Transactions Default 40

tillful

MAY 4, 2023

Many states allow you to pay taxes with a credit card. In Arizona, for example, you can use a credit card to pay individual income tax and small business income tax, but will have to pay a 2.35% convenience fee to do so. Is there a fee for using a credit card to pay taxes?

Credit and Collections 52

Credit and Collections Credit Card Payments Electronic Funds Transfer Credit Scoring 52

Fundera

DECEMBER 2, 2018

Today 77% of Americans prefer to pay with plastic, which has helped make mobile credit card reader technology ubiquitous. In this guide we are going to explore that market to find the best mobile credit card readers for small business owners. What’s replacing magstripe cards is EMV chip technology.

Credit Card Payments 49

Credit Card Payments Credit and Collections Transactions Small Businesses 49

Fundera

SEPTEMBER 7, 2019

How to Accept Credit Card Payments Without a Merchant Account. In order to accept credit card payments without a merchant account, you’ll have to work with a payment service provider, also known as a third-party payment provider, payment facilitator, or processing aggregator.

Credit Card Payments 59

Credit Card Payments Dashboards Transactions Deductions 59

Fundera

APRIL 24, 2019

With around 4,000 Intuit employees, accounting professionals, small business owners (and employees!) and entrepreneurs, it’s impossible not to connect with someone that can help you change your business for the better. How to Set Up QuickBooks Credit Card Payments.

Credit Card Payments 89

Credit Card Payments Transactions Small Businesses 89

Fundera

APRIL 20, 2016

When you’re applying for a small business loan , your business credit score is an important factor in the lender’s decision. What is the FICO Liquid Credit Score—and why does it matter to your business? FICO Liquid Credit & Your Small Business. Starting with the Basics.

Credit Scoring 74

Credit Scoring Credit Reporting Agencies Credit Card Payments Small Businesses 74

Fundera

AUGUST 14, 2020

If you’re shopping for small business loans , you might become confused by all the terminology that gets thrown your way. With factor rates, profit and loss statements, debt schedules, APY (annual percentage yield), real vs. nominal interest rates, all your business loan requirements come with a fair share of confusion.

Credit Card Payments 98

Credit Card Payments Credit Card Companies Credit Scoring Small Businesses 98

Lendio

MARCH 15, 2023

Merchant Account A merchant account is designed to support customer transactions so that they can pay your business in multiple ways. It’s typically used as a go-between from your business checking account and your customer making a debit or credit card payment. Explore your financing options with Lendio.

Deductions 52

Deductions Credit Card Payments Credit and Collections Invoice Collections 52

Fundera

MAY 1, 2020

Consider a cash payment or early payment discount (make sure you aren’t dipping into your profit margin if you do this) to speed up customer payments. If you don’t want to extend discounts, simply including a credit card payment link on your invoices can speed up collection significantly.

Credit Card Payments 84

Credit Card Payments Credit and Collections Small Businesses 84

Fundera

APRIL 1, 2019

If you’re a small business, your point of sale system is one of the most important components in your sale process. Talech POS is a cloud-based point of sale (POS) system geared specifically toward restaurants and retail businesses. This software costs $29 per month plus the credit card payment processing fees.

Credit Card Payments 40

Credit Card Payments Dashboards Small Businesses 40