Tue.Jun 18, 2024

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Use Caution Extending Credit to Startup Companies

Your Virtual Credit Manager

Startup companies are intriguing, but can also be an enigma. The successful ones receive a lot of publicity and are celebrated widely. Who will be the next Apple, Google, Facebook, or Nvidia? If you happen to be a supplyier to a successful startup you’re in luck. As they grow, so will their purchases from your firm. A small, new account can become one of your top customers in a few years, and a key contributor to the growth you seek.

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Ultimate Guide to the Costs of Opening a Laundromat

biz2credit

Owning a laundromat can be a lucrative business opportunity for entrepreneurs. With the right location and equipment, a laundromat can provide a steady income stream with relatively low ongoing costs. But it can be a sizeable initial investment, costing between $200,000 and $500,000 to open a new laundromat, and $100,000 and $400,000 to buy an … Continue reading "Ultimate Guide to the Costs of Opening a Laundromat" The post Ultimate Guide to the Costs of Opening a Laundromat published firs

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Stop Wasting Money on Subscriptions: Here’s How to Cancel Subscriptions You Forgot About

Credit Absolute

Americans have become accustomed to a subscription lifestyle, with a whopping 92% of younger demographics actively subscribed to various services. According to a West Monroe Partners study West Monroe Partners, this convenience comes at a cost, with the average consumer unknowingly spending a significant $273 monthly on subscriptions. This figure is even higher than initial […] The post Stop Wasting Money on Subscriptions: Here’s How to Cancel Subscriptions You Forgot About appeared

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AccountingDepartment.com Awarded Inc. Best Workplaces 2024 Recognition

Accounting Department

We are thrilled to share that AccountingDepartment.com has been selected for inclusion in the Inc. Best Workplaces list, for the third year in a row! This recognition in 2024 highlights the success of the workplace environment we have cultivated over the last 20 years. We are grateful for the privilege of being acknowledged as an Inc. Best Workplace for the last 3 years now, and we extend our appreciation to our entire staff, who make it such a wonderful place to be every day.

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Xerocon London: Highlights from the event

Chaser

Last week, Xerocon , the annual conference of Xero, took place in London, and what an event it was! Xerocon is unlike any other conference, often referred to as the "Glastonbury for accountants." This two-day event was hosted at the Excel in London on the 13th and 14th of June, drawing in over 3000 accountants and bookkeepers. More than 50 global brands, including Chaser, showcased their products, and there were several keynote speakers, such as Sue Perkins and Sam Conniff.

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Maximizing Success During the Busy Season: Essential Tips for SMBs

biz2credit

The busy season presents a golden opportunity for small and medium-sized businesses (SMBs). With careful financial planning and strategy, small business owners can use the surge to maximize revenue and expand their customer base. However, it can also be a taxing period, requiring significant preparation. This guide will help small business owners navigate the busy … Continue reading "Maximizing Success During the Busy Season: Essential Tips for SMBs" The post Maximizing Success During the

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LSQ Creates $3MM AR Facility for Florida-based Internet Service Provider

lsq

ORLANDO, Fla. (June 17, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $3 million accounts receivable credit facility for a Florida-based fixed wireless internet provider. The company was referred to LSQ by a wealth management partner. As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management. “The company is on track for remarkable growth, and the added wo

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Unraveling childhood’s impact on adulthood

Due

Understanding the child within the adult Childhood is a pivotal stage in human development, laying the groundwork for our personality, behavior, and emotional health. It’s during these formative years that we have our initial encounters with the world, creating impressions that can endure a lifetime. Regrettably, not all these experiences are positive.

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Keeping your data safe in cloud-based solutions

Plooto

As your business grows, you’ll be responsible for managing more and more business information and customer data. Even though growth is positive, k eeping up with data as it’s shared between platforms while maintaining it safely can feel overwhelming. If you’re worried about how to keep your data safe while scaling your business, cloud-based automation is a worthwhile solution to look into.

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Health and welfare benefits administration firm to pay $44.4m in fringe benefits

Due

In a significant move, the Department of Labor has compelled a health and welfare benefits administration firm to repay $44.4m in fringe benefits. Axim Fringe Solutions Group LLC, majority owner James Campbell, and the firm’s Director of Compliance Accounting, Melissa McManus, are under investigation by the DoL. They allegedly misappropriated the money contained in and paid out via fringe benefit plans.

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What You Should Know about SBA Express Loans

FNB Small Business

If you are pursuing an SBA 7(a) or 504 loan for a major project, like acquiring a business or purchasing commercial real estate, you might also need additional financing to support day-to-day business operations. That’s where an SBA Express Loan comes in! This loan product is specifically designed to help small business owners with current business needs while also enabling them to plan for future expansion and growth.

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$54.7M mortgage fraud investor pleads guilty

Due

Aron Puretz, a New Jersey man charged with $54.7M mortgage fraud, has recently pleaded guilty in an ongoing court case. According to the Justice Department , Puretz, 53, was charged with working with a series of co-conspirators to obtain illegal multifamily and commercial mortgage loans. Mortgage fraud orchestrator pleads guilty Purtez has now held his hands up and has pleaded guilty to committing wire fraud affecting a financial institution.

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Piramal Enterprises Meets Investors to Test Waters for Debut Public USD Bond

Reorg Blog

Piramal met investors in Singapore in a non-deal roadshow organized by Deutsche Bank to test the waters for potentially issuing an inaugural public USD bond

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Understanding the Beck Delaford phenomenon

Due

The Beck Delaford phenomenon In the bustling world of social media, standing out can be a Herculean task. Yet, Beck Delaford has managed to do just that, and more. Beck Delaford isn’t just a name, it’s a phenomenon. She’s carved out a niche for herself in the crowded social media landscape, standing out with her unique content and engaging personality.

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Cholamandalam Mulls Debut Public USD Bond, Keen to Raise ~$350M

Reorg Blog

Cholamandalam Investment and Finance Company Ltd., a Chennai based NBFC, is looking to raise $300M-$350M through an inaugural issue of public bonds.

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Unveiling complexities of the U.S. jobs market

Due

The U.S. jobs market, at first glance, seems to be in a remarkably healthy state in June 2024. Month after month, since the COVID-19 pandemic began, we’ve seen headlines consistently reporting the addition of another 200,000 jobs to the U.S. economy. But, if we take a closer look at the economic data, we find a more intricate and nuanced picture.

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Pan Brothers Administrators Schedule First Creditors Meeting on June 28

Reorg Blog

The court-appointed administrators of Indonesian textile company PT Pan Brothers Tbk have scheduled a first creditors meeting on June 28

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LSQ Creates $3MM AR Facility for Florida-based Internet Service Provider

lsq

ORLANDO, Fla. (June 17, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $3 million accounts receivable credit facility for a Florida-based fixed wireless internet provider. The company was referred to LSQ by a wealth management partner. As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management. “The company is on track for remarkable growth, and the added wo

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Greenko Plans JPY Loan to Refinance $400M Loan due August

Reorg Blog

Greenko Energy Ltd. has decided to raise a JPY denominated loan to fully refinance its originally $400 million up-to-18 month bridge loan.

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B2B Credit and Payment Fraud: Why You Should Be Prepared

Bectran

No organization wants to be the target of fraud. Still, most see setting up and running effective fraud prevention as too imposing—more so than it is worth. As a result, organizations often leave fraud virtually unchecked, counting on the costs to remain low compared to prevention.