Fundera

JUNE 26, 2020

So, you’re opening a restaurant. One of the most important factors in whether or not your restaurant will succeed is how you price the food on your restaurant’s menu. Whether you have a food truck or more traditional restaurant space, deciding how to price the food you serve is a crucial part of your business’s operations. . There are many different facets involved in learning how to price food on a menu, some of which is predictive, some of which is more exact, and some of which is comparative.

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Abrigo

JUNE 30, 2020

Key Takeaways FinCEN released guidance for financial institutions around banking hemp-related businesses. CDD requirements are risk-based and require the grower to provide their compliance with licensing requirements. SARs should only be filed if suspicious activity is detected beyond legal hemp growing. . From the time that the Agriculture Improvement Act of 2018 (2018 Farm Bill) removed hemp from the definition of marijuana within the Controlled Substances Act, the financial services industry

Credit Unions 78

Credit Unions 78

StackSource

JUNE 11, 2020

Most experienced landlords and property managers will agree that tenant turnover is often one of the largest expenses for rental property owners. Here are 5 ways to avoid it.

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Pactola

JUNE 29, 2020

2020 has proven to be a time that we need courage to push through. Some of the definitions of courage in the dictionary are “the ability to do something that frightens one”. Another one is “strength in the face of pain or grief”. Melanie Greenberg, Ph.D. listed six attributes of courage in a Psychology Today article as: Feeling fear yet choosing to act, following your heart, persevering in the face of adversity, standing up for what is right, expanding your horizons by letting go of the familiar

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GoCardless

JUNE 10, 2020

This week celebrating Pride month, we hear from Drew, Head of Internal Comms.

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Fundera

JUNE 23, 2020

No matter what kind of small business you have, one of the best ways to protect your company is by purchasing small business insurance. Business insurance helps you plan for the unexpected and protects your company from the high costs of lawsuits. Some policies will also safeguard your company from natural disasters, theft, and cyber attacks. When shopping for insurance, all business owners want one thing—the coverage they need at the best price.

Insurance Companies 98

Insurance Companies Small Businesses 98

Abrigo

JUNE 23, 2020

Key Takeaways The Abrigo Assurance Plan was created to make sure your BSA/AML software is running at its most efficient. Throughout your journey with Abrigo, you will have a team dedicated to your success. Learn from your peers and hear what problems they are dealing with in our Abrigo Community, exclusive to our customers. Community financial institutions are often tasked with doing more with less.

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Abrigo

JUNE 19, 2020

Key Takeaways The unpredictability of the economy has created questions around reporting losses. Without historical data to rely on, institutions can explain why it determined a forecast and provide support for that determination. A financial institution should reflect its belief in the degree of the severity of the economy expected in the next few years.

CECL 78

CECL Credit Risk 78

Abrigo

JUNE 18, 2020

Key Takeaways The Paycheck Protection Program (PPP) has been a critical foothold for community financial institutions seeking to obtain and diversify business lending relationships. The key to making the PPP a profitable investment is to deepen these relationships into strong business relationships. Proactive outreach, reimagining the purpose of the branch, and evaluating business lending technology will be critical for PPP lenders and non-PPP lenders post-pandemic.

Credit Unions 78

Credit Unions Small Businesses Credit Risk 78

Abrigo

JUNE 12, 2020

Key Takeaways The soon-to-begin Main Street Lending Program (MSLP) aims to fulfill a need for mid-sized businesses to access relief funds amid the coronavirus pandemic. The MSLP was introduced in April, but the scope of the program has changed several times to increase participation. The latest changes include lowering the minimum loan size, raising the maximum loan size, extending the maturity of each loan option, and increasing participation from the Reserve Bank.

Corporate Lending 78

Corporate Lending Transactions Small Businesses Credit Risk 78

Abrigo

JUNE 10, 2020

Key Takeaways The recent case where a former top risk officer was fined reminds financial institution executives and BSA professionals of the personal liability tied to implementing and maintaining effective AML programs. The former Chief Operational Risk Officer was fined for insufficient action on AML program deficiencies and staffing issues. Adequately staffed and risk-focused AML resources with good documentation are critical.

Credit Unions 78

Credit Unions Transactions 78

Abrigo

JUNE 9, 2020

Banks and credit unions closed their lobbies and branches amid shelter-in-place orders in response to the coronavirus pandemic. Financial institutions that had already made the shift towards digital offerings found themselves with a distinct advantage to serve their customers and members. Technology has enabled financial institutions to operate more quickly and efficiently, creating a better experience for customers.

Credit Unions 78

Credit Unions Credit Risk 78

Abrigo

JUNE 5, 2020

This morning’s employment situation report for the month of May was genuinely amazing – and unexpected. Market expectations were for a headline unemployment rate of about 19.7% and job losses for the month to total between 8.3-8.5 million. That wasn’t the result. The headline unemployment rate fell from 14.7% to 13.3%, and employment increased by 2.5 million jobs.

Credit Risk 78

Credit Risk 78

Abrigo

JUNE 4, 2020

Key Takeaways Changes to PPP forgiveness that lenders need to know about include more time for borrowers to incur forgivable expenses and a cut to 60% (vs. 75%) of loan proceeds required to be spent on payroll. Borrower payments will also be deferred until the forgiven portion is received by the lender from the SBA. Nothing in the bill provides blanket forgiveness for loans under a certain size.

Credit Risk 78

Credit Risk 78

Abrigo

JUNE 1, 2020

Key Takeaways CFOs have numerous considerations related to the impact of the coronavirus pandemic on the allowance for credit losses, whether it is calculated under the incurred-loss model or CECL. For lenders reporting under both the expected-loss and incurred-loss models, an increase in loan workouts or modifications may wind up as unwanted impacts on the allowance.

CECL 78

CECL Credit Risk Small Businesses 78

Fundera

JUNE 3, 2020

Best Restaurant Online Ordering Software. Toast. Upserve. ChowNow. CAKE. GloriaFood. If you had any doubts about the importance of setting up an online ordering system for your bar, restaurant, or cafe, 2020 has probably squashed them. Now, restaurants are either entirely or heavily reliant on takeout and curbside pickup while in-person operations are stalled due to COVID-19.

Credit Card Payments 82

Credit Card Payments Transactions 82

Fundera

JUNE 2, 2020

For many of America’s small businesses operating in the wake of the coronavirus pandemic, long-term strategizing has taken a backseat to short-term survival. . Millions of small business owners have taken out Paycheck Protection Program loans in order to keep their staff on payroll, pay pressing expenses, and stay afloat. For some, this low-cost, stopgap funding may be enough to get them through until they can operate normally.

Small Businesses 79

Small Businesses 79

Fundera

JUNE 4, 2020

On June 3, 2020, Congress passed the Paycheck Protection Program Flexibility Act, which includes several key changes to the Paycheck Protection Program (also known as PPP) that will affect the millions of small businesses that received a PPP loan, as well as the many who may still yet apply for one. . The president needs to sign the bill for it to become law, which he is expected to do in the coming days.

Small Businesses 81

Small Businesses 81

Fundera

JUNE 12, 2020

In many ways, self-employed workers have had a more difficult time accessing and using Paycheck Protection Program loans than other small businesses. From the application process to forgiveness guidelines, self-employed workers have been scrambling to understand how this forgivable loan program works for them. . The SBA made PPP loans available to self-employed workers later than business owners with employees.

Small Businesses 73

Small Businesses Deductions 73

Fundera

JUNE 18, 2020

When the coronavirus pandemic first hit the United States, a combination of stay-at-home orders, drops in consumer demand, and widespread illness forced businesses across the country to shutter, restrict operations, or otherwise alter their plans. . These necessary measures had devastating consequences: Many businesses had to lay off or furlough their employees.

Small Businesses 71

Small Businesses 71

Fundera

JUNE 8, 2020

In comparing your options for small business loans , you’ve likely come across SBA loans. From the traditional 7(a) loan to the CDC/504 loan, these partially government-guaranteed loans offer some of the best terms and rates on the market. If you’re a startup or business owner with average credit, however, you may feel alienated by the strict requirements necessary to qualify for many SBA loan programs.

Credit Scoring 63

Credit Scoring Small Businesses Default Credit Management 63

Fundera

JUNE 20, 2020

As a small business owner, your hope is that you and your team always have a safe working environment. But injuries happen, particularly in high-risk industries like manufacturing or construction. Even in a relatively safe office environment, accidents like slip and falls can occur. This being said, when the unexpected occurs, you can protect your business by ensuring that you have adequate small business insurance coverage.

Small Businesses 65

Small Businesses Insurance Companies 65

Fundera

JUNE 28, 2020

Few days are more exciting for most employees than payday. Everyone appreciates getting paid accurately, easily, and on time. Keeping your company’s payroll operations running smoothly so you can always deliver on these goals? Not as simple. Thankfully, there are a variety of payroll services to help make life a little easier. If you’re looking to outsource your payroll work to the professionals—be it through payroll software or otherwise—you’ve probably run into Paycor.

Small Businesses 52

Small Businesses Dashboards 52

Fundera

JUNE 27, 2020

11 Steps to Starting a Homecare Business for the Elderly. Decide on your business model. Write a business plan. Choose a business entity. Obtain an EIN. Obtain licenses, permits, and insurance. Assess your finances. Learn how to manage finances. Choose your office space. Create business procedures. Hire and train staff. Market your business. As the baby boomer generation continues to age, there is more demand than ever for caregiving roles to help them age on their terms.

Small Businesses 52

Small Businesses 52

Fundera

JUNE 22, 2020

If you’re running a business, you need to get paid. At some point, you’ll also need to pay other people, too, whether they’re contractors, vendors, freelancers, partners, or the like. And to facilitate those payments digitally, you need a payment processor. Payoneer and PayPal are just two of your many options. . Both Payoneer and PayPal are reputable and popular payment processors for businesses of every size, but these platforms offer very different services.

Transactions 52

Transactions Small Businesses 52

Fundera

JUNE 21, 2020

Top Alternatives to Zenefits. Gusto. Paychex Flex. BambooHR. Kronos Workforce Ready. GoCo. CezanneHR. Zoho People. You’ll make many decisions over the life of your business, one of which will likely be the type of small business HR software you’re going to use. Although the choice may seem inconsequential relative to some other big decisions you’ll have to make, choosing the right small business HR platform is important for your time and your money.

Small Businesses 52

Small Businesses Dashboards 52

Fundera

JUNE 20, 2020

Top Art Business Ideas. Painting and Sculpture. Greeting Cards. Candles. Antique Curation. Art Consultant. Graphic Design. Calligraphy. Tattoo Artist. Art Director. Photographer. Branding Consultant. Art Teacher. If you want to combine your creative skills with your entrepreneurial savviness and start a business to leverage your artistic skills, then you’re in luck.

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Fundera

JUNE 9, 2020

Opening an online store is an exciting and potentially lucrative endeavour. But as you might imagine, starting and running an ecommerce business takes time, effort, resources, patience, and dedication. . Even after you’ve gone through all the steps to create, launch, and market your store, you’ll find that running an ecommerce business is a constant learning process.

Transactions 52

Transactions Small Businesses 52

Fundera

JUNE 8, 2020

7 Best 401(k) Providers. ADP. Betterment for Business. Charles Schwab. ShareBuilder 401k. Fidelity Investments. T. Rowe Price. Merrill Edge. Regardless of your business’s size, offering your employees a retirement savings plan is a crucial part of any HR operation. Not only will offering comprehensive employee benefits draw top talent, but it’ll make your current employees feel valued and provide them peace of mind that they’re making the right financial decisions for their future—and happier e

Small Businesses 52

Small Businesses Dashboards Transactions 52

Fundera

JUNE 7, 2020

No matter how great your business’s products or services are, you need a comprehensive marketing strategy to help spread the word. While you may be tempted to market your business to everyone or simply guess to whom you’re marketing, these would both be costly mistakes for your business. That’s why finding a target audience is so important—it’ll give you deep, crucial insight into who your customer really is, what their habits are, and how you can better reach them.

Small Businesses 52

Small Businesses 52

Fundera

JUNE 6, 2020

If you’re starting a business and looking for funding via investment, it’s important to know how several aspects of the venture financing landscape work. This includes the difference between angel investor vs. venture capitalist, and which of the two is more relevant to your business goals at your current stage. The world of venture capital and venture financing is complicated, so the more you understand, the better you’ll be able to position yourself to pitch investors and, hopefully, receive f

Credit and Collections 52

Credit and Collections 52