Fundera

OCTOBER 14, 2015

A few quotes about success may be all you need to get motivated, take the initiative, and start down the path to reaching your small business goals. Remember this: many people before you have tried and failed. While some give up after a setback, others continue forward. They realize that hard work and dedication will pay off in the long run. When you read a quote from somebody famous, somebody with a lot of money, it is easy to toss aside what he or she is saying.

Small Businesses 110

Small Businesses 110

Abrigo

OCTOBER 22, 2015

Banks and credit unions rely on their borrowers for updated information, which they in turn use to make accurate credit decisions. Financial statements, tax returns, collateral appraisals, rent rolls, loan agreements, economic data, credit reports, images, etc. all factor into credit decisions, making document and data management a big deal for bankers.

Credit Unions 87

Credit Unions CECL 87

GoCardless

OCTOBER 26, 2015

Do you find yourself out of pocket because your customers don't pay you on time? You're not alone – this is a problem that affects over half of Britain’s small businesses.

Small Businesses 40

Small Businesses 40

Fundera

OCTOBER 8, 2015

Your QuickBooks Soulmate is Out There. . Since launching your business, you’ve been keeping track of your accounting with a spreadsheet (yay you!) and business is booming. (Who doesn’t like laundry detergent with glitter in it?). Got this one here. . But things are starting to really take off – you’re not just selling this stuff to your 14-year-old sister and her friends now.

Default 109

Default Small Businesses 109

Fundera

OCTOBER 13, 2015

Dreams of owning a winery is definitely a romantic, artisan kind: buy a vineyard, grow some grapes, make some wine, sell your wine, maybe make a fortune, and all the while proudly savoring the wine that you made. Unfortunately, the wine-making business is a tough one and these dreams are rarely a reality. If there was an industry that really tests you, owning a winery might top the list.

Small Businesses 108

Small Businesses 108

Fundera

OCTOBER 30, 2015

At Fundera, there are many reasons we have the utmost respect for small business owners. Whether it’s the extra hours worked to get the job done, their ability to wear just about any “hat,” or the fact that they are America’s job creators—the list goes on. But the number one reason we love small business owners, and choose to support them every day through our own business, is their passion.

Small Businesses 103

Small Businesses 103

Fundera

OCTOBER 21, 2015

Opening and running a restaurant is New York is like a race against time, money, and location. Time because you’re serving busy, hungry city dwellers, money because it costs a hefty sum to operate any New York City business, and location because who knows when the city will decide to install a scaffold above your building and hide your establishment from hungry passersby.

Small Businesses 102

Small Businesses 102

Fundera

OCTOBER 16, 2015

If you’re a small business owner trying to secure a small business loan , the good news is you have more options available to you than ever before. In fact, sometimes you might feel as if you have so many choices, it’s hard to determine the best source of financing. In this article, I’ll try to help out by taking a closer look at two very popular alternative financing sources, Kabbage and OnDeck, and when it comes to Kabbage vs.

Small Businesses 102

Small Businesses Credit Scoring Deductions Default 102

Fundera

OCTOBER 23, 2015

To show customers you really care, you don’t need to dole out unreasonable discounts or charter a thank you cruise. Instead, zero in on creating an unmistakably great product, service, or experience that hits the exact mark for your target audience. Then fire up your creative side and add in a personal flair for low-cost ways to make customers smile in the moment—and stay happy in the long run.

Small Businesses 101

Small Businesses 101

Fundera

OCTOBER 30, 2015

The Blue Coffee Pot: Presented by Small Business Revolution from The Small Business Revolution on Vimeo. Great small business owners treasure first-hand knowledge of their community’s needs. But few value community quite like JoDonna Hall Ward. JoDonna grew up in Navajo Country in the small town of Kayenta, Arizona. After her mother’s passing, JoDonna moved back home to keep alive her mother’s legacy: three small businesses in the heart of town, including a gas station, a laundromat, and a

Small Businesses 100

Small Businesses 100

Fundera

OCTOBER 28, 2015

For a lot of retail and restaurant businesses, the holidays can be the busiest time of the year. But for other small businesses, the holiday season can herald in one of the most difficult times of the year. Many shut down production completely, and even close their doors during the peak of the December holidays. While this may conserve some cash, wages still need to be paid and fixed costs need to be taken care of.

Small Businesses 99

Small Businesses 99

Fundera

OCTOBER 29, 2015

Researching options to finance your business can feel like entering a foreign country. There are terms you don’t know, concepts you’ve never heard of, and you’re being asked to provide documents and make decisions based on information you don’t totally understand. The options are seemingly endless, and there are so many pros and cons to each. How do you know which way to turn?

AR Aging 99

AR Aging Credit Scoring Small Businesses Credit Card Payments 99

Fundera

OCTOBER 7, 2015

It takes money to make money. You’ve heard this old adage hundreds, if not thousands, of times over your life. From your dad. Your mentor. Every business blog you’ve read, ever. It’s just something people say, right? But if you’ve been in business for any amount of time, you’ve probably realized by now that people say this over and over because it’s true.

Credit Scoring 99

Credit Scoring Small Businesses 99

Fundera

OCTOBER 15, 2015

CORN MAZE CRAZE from Rich Addicks on Vimeo. We’re celebrating the arrival of fall with a trip to the farm, where one family’s corn maze and pumpkin patch help make this season a prosperous one! These days, life as an independent farmer isn’t always easy. Farmers like Stan Vaught have had to get creative in the face of unpredictable weather and regulations that increasingly favor larger farms.

Small Businesses 96

Small Businesses 96

Fundera

OCTOBER 26, 2015

DBAs are great for separating the business owner from the business. If an entrepreneur is planning on doing business using a name other than his or her own personal legal name, then he or she will probably need a DBA. Most states require DBAs, in fact, prior to conducting any business under a name other than the business name or a personal name. First of All, What Are DBAs?

Small Businesses 90

Small Businesses 90

Fundera

OCTOBER 19, 2015

Reading the word ratio might be giving you horrific flashbacks to 8 th grade math class. Especially when it comes to a term like fixed charge coverage ratio or FCCR. What on earth is it? Why does it matter? Why do most scary terms have even scarier acronyms? Let’s start at the beginning. As you started building you business, you set out to be as successful as possible and realize profit as soon as possible.

Deductions 84

Deductions Small Businesses 84

Abrigo

OCTOBER 30, 2015

With the recession fading into the more distant past, banks – in particular, community banks – have seen several years of loan growth. Banks, according to Comptroller of the Currency Thomas Curry, are starting to reach for additional growth by lending to less creditworthy borrowers, a move that increases risk to the institution. Speaking last week to the Exchequer Club , Curry said, “It’s the point in the cycle where we customarily see an easing of loan underwriting standards , as banks drop or

Credit Risk 60

Credit Risk Credit Scoring Credit Unions 60

Abrigo

OCTOBER 28, 2015

A significant amount of planning is typically involved before most major events. For example, D-day, the most comprehensive invasion to ever take place, was planned and scheduled with extreme detail months before its execution on June 6, 1944. Likewise, accountants each year experience a tax season that requires detailed planning and precise execution.

60

60

Abrigo

OCTOBER 23, 2015

Some financial institutions consider stress testing the loan portfolio as one more regulatory issue to address, but that view is short-sighted, according to John P. Behringer, McGladrey’s national leader for credit risk services. Portfolio stress tests can provide a number of benefits beyond compliance with regulatory expectations, Behringer said recently at the 2015 Risk Management Summit hosted by Sageworks.

Credit Unions 60

Credit Unions CECL Credit Risk Default 60

Abrigo

OCTOBER 21, 2015

The Federal Reserve announced it will hold a special information session later this month for accountants, consultants, auditors and others to learn more about the FASB’s forthcoming current expected credit loss model , or CECL. Steve Merriett, the Fed’s Chief Accountant, will lead the webinar discussion on Oct. 30 from 1 p.m. to 2:30 p.m. ET, the Fed said in an email notice.

CECL 60

CECL Credit Unions 60

Abrigo

OCTOBER 21, 2015

Every year, accountants brace themselves for the inevitable tax season. For many accountants, unfortunately, tax season means that lucrative consulting work that can diversify revenue and bolster firm growth throughout the year gets put on hold in order to handle the mountains of personal and business tax returns. However, tax season provides the opportunity for accountants to sit down with the majority, if not all, of their clients.

60

60

Abrigo

OCTOBER 16, 2015

Banks and credit unions are in the business of measuring and managing credit risk. At a recent Sageworks event, we discussed a specific case study regarding components of risk rating for a particular business loan to see how the institutions in the audience would have handled a particular scenario. Situation : Steve’s Soups, a local catering company, has a 7-year loan with the institution, now in its 4th year.

Credit Unions 60

Credit Unions Credit Risk 60

Abrigo

OCTOBER 6, 2015

As the fall ramps up, many accounting firms will see a steady stream of new faces in their halls. Recent college graduates have already or soon will find their new homes in cubicles, wide-eyed and eager to learn the ins and outs from their firm’s senior staff. While a company mentor may school them on watercooler speak or the do’s and don’ts of assimilating to office culture, many rookie team members will also need a hand to learn the intricacies of their day-to-day work.

Accounting Firms 60

Accounting Firms 60

Abrigo

OCTOBER 5, 2015

For banks and credit unions, a popular tool to monitor credit risk is a standardized risk rating system, which can serve several purposes. These systems often determine credit approval processes, covenants placed on the borrower and how loans should be priced. They can also form the basis for broader risk management practices – for instance, setting the reserve, stress testing the loan portfolio , setting risk appetites and strategic planning.

Credit Risk 60

Credit Risk Credit Unions Bankruptcy 60

Abrigo

OCTOBER 2, 2015

A central difference between the existing incurred-loss model for estimating credit losses and the FASB’s proposal utilizing a current expected credit loss , or CECL, model is that financial institutions will need to estimate how much money they will lose on loans throughout the life of the loans. Shifting from estimating incurred losses solely (adjusted to take into account current circumstances) to forecasting future expected credit losses raises the question of how institutions can generate w

CECL 60

CECL Credit Unions Credit Risk 60

Fundera

OCTOBER 9, 2015

Working capital is the lifeblood of a business. Without it, invoices languish, inventory goes undelivered, employees go unpaid, and business stagnates. Keeping your working capital out of the red is critical to success. For small businesses, though, just one supersized order can upset the delicate working capital balance, and often business owners are forced to leave money on the table.

Credit Scoring 102

Credit Scoring Small Businesses Dashboards Transactions 102

Fundera

OCTOBER 22, 2015

Throughout the course of a small business’s life, there will almost always come a moment when the owner is plagued with answering a very, very difficult question: “Should I get a small business loan?”. This question can come about for a number of reasons, whether the business owner has hit a cash crunch, needs capital to pursue a specific business opportunity, they’re looking to expand, etc.

Small Businesses 106

Small Businesses Credit Scoring 106

Fundera

OCTOBER 20, 2015

1. Kermit the Frog. via GIPHY. This long-suffering showrunner of The Muppet Show has weathered all kinds of setbacks, from kidnapping to amnesia. Nevertheless, Kermit has kept his unruly troupe afloat for 40 years—what a boss! 2. Lucy van Pelt. via GIPHY. Forget the lemonade stand. Lucy might be a kid, but that doesn’t stop her from offering her, uh, “psychiatric” services to the Peanuts gang for the low, low price of five cents. 3.

Small Businesses 100

Small Businesses 100

Fundera

OCTOBER 6, 2015

The Internet is one giant soup pot of information, where everything is all just swirled together. This can make it extremely difficult to pick out the valuable news from the inane chatter or sales pitches. As a small business owner, you don’t have time to sift through tons of websites, Twitter feeds, Facebook groups, and blogs to find out what you need to know.

Small Businesses 112

Small Businesses Credit Scoring Deductions 112

Fundera

OCTOBER 12, 2015

Whether you’re seeking a merchant cash advance, a business line of credit or an SBA guaranteed loan to provide financing for your small business, there are more financing options to choose from than ever before. There’s now a plethora of online loan companies catering to small business owners’ need for speedy funding. Offering less paperwork, faster approval times and quicker funding than traditional small business loans , these online loan companies help take the hassle out of finding business

Small Businesses 110

Small Businesses Transactions 110

Abrigo

OCTOBER 1, 2015

Remember the days of yellow mustard, when there was only plain, yellow mustard? Malcolm Gladwell published a story about how the mustard market changed forever in the 1980's. All of a sudden mustard came in glass jars, had French-sounding names, and was featured in commercials with a Rolls-Royce driving down a country road. Grey Poupon literally created a market that didn't exist.

Brokerages 60

Brokerages Transactions 60