Fundera

MARCH 31, 2016

If you’re a minority small business owner, you might’ve learned the hard way that equal opportunity doesn’t always apply to small business loans. Small Business Loans for Minorities from Fundera. Let’s take a look at the problem… And what we can do to solve it. The Problem. A recent study coauthored by a Brigham Young University business professor recruited nine people—three black, three Hispanic, and three white—to act as “mystery shoppers” and apply for $60,000 small b

Small Businesses 76

Small Businesses Nonprofit Organizations 76

Abrigo

MARCH 28, 2016

In today’s banking environment, there is strong pressure for banks and credit unions to grow the portfolio profitably. With more competition, institutions are lending in new areas, adjusting underwriting standards and seeking to grow via mergers and acquisitions. Despite the pressure, banks and credit unions must remain diligent across departments to ensure policies and procedures are in place – and followed – by everyone.

Credit Unions 60

Credit Unions Credit Risk Small Businesses 60

GoCardless

MARCH 14, 2016

Value pricing is transforming the way many accounting firms are now pricing their services. The challenge is, it isn’t easy. In this free e-Guide written by Mark Wickersham FCA, discover the 5 most important fundamentals of value pricing.

Accounting Firms 52

Accounting Firms 52

Fundera

MARCH 29, 2016

“Merchant capital” might sound kind of unfamiliar, but if you’ve been looking for business financing for awhile, you’ve probably heard of one of its many aliases. But whether you call it a merchant cash advance , a cash advance, or merchant capital financing, this fast and easy business financing option is also a pretty expensive way to get your hands on funding.

Deductions 76

Deductions Transactions 76

Fundera

MARCH 28, 2016

Over 80% of successful small businesses need to borrow capital in order to finance their growth. If you’re the owner of a small business, chances are pretty good that you’re a part of that majority. Businesses need cash to thrive and expand, especially in their beginning, and term loans can help—whether to renovate or open a new office space, purchase equipment, hire new employees, implement marketing campaigns, or even refinance debt.

Credit Scoring 76

Credit Scoring Credit and Collections Small Businesses Deductions 76

Fundera

MARCH 28, 2016

You’ve created a business plan, done your research, and are ready to start shopping for loans to grow your business. But if your only financial statements come from your PayPal account, you might find that you don’t have what you need in order to get a lender’s attention. Financial lenders usually don’t like relying on PayPal statements to verify your company’s cash flow—and the reasons why are pretty understandable when you learn more about PayPal, its history, and

Small Businesses 76

Small Businesses Transactions 76

Fundera

MARCH 24, 2016

Over the past few years, it’s become increasingly popular for businesses large and small to farm out tasks to freelancers, contractors, and third-party platforms powered by the “gig economy.” The numbers bear this out: The Bureau of Labor Statistics reports that there was an increase of over 1 million self-employed people from May 2014 to May 2015.

Small Businesses 76

Small Businesses 76

Fundera

MARCH 21, 2016

Portrait of a Dogwalker from Fredrik Harper on Vimeo. “If money were absolutely no object, what would you choose to do in life?” For Matt Hein, the answer included travel, being in nature… And spending lots and lots of time with dogs. Matt Hein spent his 20s working in finance at a job he hated. The grueling commute and miserable hours took a toll on his passion for life, and after 4 and a half years, he left it all behind.

Small Businesses 76

Small Businesses 76

Fundera

MARCH 15, 2016

We talk a lot about business financing—but what about you? Take our Business Financing IQ quiz to test just how well you know the wide, wild world of business funding. Good luck! Let us know what you think in the comments section here or on Facebook , or tweet at us @Fundera. The post What’s Your Business Financing IQ? appeared first on Fundera Ledger.

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Fundera

MARCH 11, 2016

Steve Young has been in been in business with his family for over 30 years—and has co-owned a business with his brother, Jim, for 26 years. Their family venture, Deca Realty Company , is a successful real estate sales and management business based in St. Louis, Missouri. How have these brothers used their family ties to their advantage? What’s their secret to success?

Small Businesses 76

Small Businesses 76

Fundera

MARCH 10, 2016

Note: This article is the second in a three-part series on the popular alternative business lender, SmartBiz. If you missed it, you can read the first piece in the series, A Smart & Easy Way to Get an SBA Loan , here. If you’re a business owner looking for an SBA loan between $30,000 and $350,000 at a low rate, a SmartBiz loan might be a smart option—as we discussed in the previous part of this series.

Credit Scoring 76

Credit Scoring Bankruptcy Small Businesses 76

Fundera

MARCH 9, 2016

This month’s Fireside Chat: Meredith Wood, Editor-in-Chief, sits down with Michael Schwartz, Senior Account Executive, to discuss how you can graduate into lower-cost business loans. What does it mean for you to “graduate” into a different loan product? What should you be focusing on if you want to lower your payments? How can you best grow your business?

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Fundera

MARCH 8, 2016

For the past few years, the Federal Reserve Banks of New York, Atlanta, Boston, Cleveland, Philadelphia, Richmond, and St. Louis have joined together to release the Small Business Credit Survey in February. Nearly 3,500 businesses with fewer than 500 employees were surveyed! There were a few interesting and informative trends from 2015 highlighted in this report, but the most compelling one we found was the success of small banks in the lending landscape.

Small Businesses 76

Small Businesses Credit Unions Credit Application 76

Fundera

MARCH 7, 2016

No wedding is complete without the wedding photographer. Memories of the big day can last a lifetime, but photographs, passed down through the generations, help those memories live forever. Those with photographic skills and tools know that a wedding photography business can be as lucrative as it is fulfilling. The key word, of course, is business. Photography is a common hobby, and the practice of photographing weddings often starts as favor that a good photographer can grant to friends and fam

Small Businesses 76

Small Businesses 76

Fundera

MARCH 2, 2016

If you’re an entrepreneur with that golden, once-in-a-lifetime idea, it can feel impossible to hit the brakes. The name of the game is momentum—slow down, and you’ll miss that window of opportunity, right? But sometimes you just have to press pause, take a deep breath, and make sure you’re not missing anything big before moving forward. All of those legal documents and agreements you’ll need to draw up are a good example: if you speed on past them, you might regret it down the line.

Small Businesses 76

Small Businesses 76

Fundera

MARCH 1, 2016

Thinking about applying for a small business loan ? You might want to curb that credit card spending first. Although lenders won’t typically ask to see your personal credit card statements, they will closely scrutinize your credit report. To this end, your personal credit card debt affects your personal credit or FICO score, and your credit card balance will show up on your credit report.

Credit Scoring 76

Credit Scoring Credit Card Companies Small Businesses 76

Fundera

MARCH 3, 2016

Sole proprietorships comprise about 70% of all businesses in the United States , for the simple reason that they’re exceptionally easy to start: they require minimal paperwork, offer complete autonomy when making business decisions, and enjoy low tax rates and easy tax filing. In addition, business losses can be offset by money from other income streams, like a spouse’s earnings or a second job.

Credit Risk 75

Credit Risk Small Businesses 75

Fundera

MARCH 8, 2016

Applying for a loan can be pretty time-consuming: you have to collect all your financial records and documents, complete application forms, and make sure you have a convincing reason to take out a loan. So the more business partners you have to help you through the process, the better, right? Sometimes, yes—but not necessarily, especially when there’s a personal guarantee involved.

Credit Scoring 74

Credit Scoring Credit and Collections Default Small Businesses 74

Fundera

MARCH 9, 2016

Virtually every successful business reaches the point where new equipment—from computers to machinery to vehicles—becomes essential. But what if you don’t have the capital on hand to pay for those necessary items, and financing the equipment might not be the right option? There is one popular solution for business owners in this situation— equipment leasing.

Deductions 74

Deductions 74

Fundera

MARCH 7, 2016

Defined Physique: A Small Business Revolution Mini-Documentary from Small Business Revolution on Vimeo. “If you’re going to bring a business into a community, you have to make it about that community.” That’s what Robert L. Hobbs, Jr. is doing in Baltimore with his personal training business, Defined Physique. Robert’s time in the Navy awoke his passion for serving others—a passion that’s become the foundation of his career, helping people from all walks of life achieve their personal fitness go

Small Businesses 73

Small Businesses 73

Fundera

MARCH 2, 2016

Are you a time-strapped business owner who’s been turned down by your local bank? Are you turned off by the time and effort you’d need to put into an SBA loan application? If you’re saying yes and yes, then applying for an SBA loan through the alternative lending SmartBiz could be a smart option. Here’s what you need to know. Who Should Apply for a SmartBiz Loan?

Bankruptcy 73

Bankruptcy Credit Scoring Small Businesses 73

Fundera

MARCH 18, 2016

Though these two terms are sometimes used interchangeably, charge cards and credit cards are not the same. While a charge card could be considered a type of credit card, it comes with some distinct features that borrowers should understand. Here’s a quick overview of the difference between a charge card and a credit card. The Difference Between a Charge Card and a Credit Card. 1.

Credit Scoring 73

Credit Scoring Small Businesses Default 73

Fundera

MARCH 15, 2016

If you own a retail small business, you know that every product you stock and every square foot of your retail space matters to the bottom line of your business. At the end of every month, quarter, or fiscal year, the amount of profit or loss shown on your balance sheet reflects the products you chose to offer for sale, the value of those items over cost, and how quickly you were able to move those products through your store and into the hands of your customers.

Small Businesses 73

Small Businesses 73

Fundera

MARCH 22, 2016

Lots of lenders, especially short-term lenders, offer business borrowers more money after their loan is about 50% paid down. But how do you know whether or not you should take the offer? It can be tempting to jump at the chance to borrow more capital—after all, you can find plenty of uses for it, right? Not so fast. Keep in mind that lenders make more money when they lend you more money, so their offers don’t necessarily have your best interests in mind.

Credit Scoring 72

Credit Scoring Small Businesses 72

Fundera

MARCH 17, 2016

Short-term business loans have become more and more popular compared to their traditional 5-10 year term loan cousins, but many small business owners might still be feeling unsure of what they need to qualify. There are plenty of reasons why short-term loans are attractive to small business owners, like the fact that shorter loans could provide more future flexibility—as borrowers won’t be tied down with ongoing loan payments for the next 5 or even 10 years.

Small Businesses 72

Small Businesses Credit Scoring 72

Fundera

MARCH 16, 2016

When you’re applying for a small business loan , there can be a lot of paperwork to complete and documentation to provide. It can get pretty overwhelming! And sometimes these documents aren’t too familiar or easy to get. For example, some lenders will request a copy of your Form SS-4 as part of the application process. But what is the Form SS-4 and how can you get a copy of yours?

Small Businesses 71

Small Businesses 71

Fundera

MARCH 17, 2016

Attention all small business owners: do you have short-term debt that was written off? And was it written off correctly? If not, it might affect your chance of getting that next business loan. Here’s what you need to know, including what you shouldn’t do when writing off short-term debt. What is Short-Term Debt? Before you do anything, it’s important to understand what short-term debt actually is.

Bad Debt 70

Bad Debt Credit and Collections Small Businesses 70

Fundera

MARCH 1, 2016

You might be aware that the debt you currently have can impact any business loans you’re looking to take on… But did you know that the kind of debt matters, too? Here’s the lowdown on how the type of debt you have affects your business loan chances. Mortgages. Many small businesses lack a substantial enough business credit history for lenders to consider, so they instead look at personal credit to check your history of making payments on time—as reflected in your credit score.

Credit Reporting Agencies 70

Credit Reporting Agencies Credit Scoring Small Businesses 70

Abrigo

MARCH 23, 2016

A recent survey by Sageworks found that U.S. bankers expect to lend more to businesses in 2016, and as they expand their commercial lending, some financial institutions may seek to better manage their loan portfolios and lending-related risks using loan portfolio management software. Sageworks has a new guide for evaluating loan portfolio software to help banks and credit unions as they weigh various options.

Credit Unions 60

Credit Unions Credit Risk 60

Abrigo

MARCH 18, 2016

Like most marketplaces, accounting firms look to the most successful firms to identify ways that they can grow. Another reason accountants look to more developed firms is to discover, “Are we heading in the right direction? Are we putting resources where they need to be put?” Observing the practices and benchmarks of successful firms within the industry can create a sense of confidence and vision for partners.

Accounting Firms 60

Accounting Firms 60

Abrigo

MARCH 18, 2016

To grow your business valuation services , help your clients learn how to treat their business like an investment. Doing so can generate repeat valuation engagements while boosting your role as a trusted advisor. Only 5 percent of business owners generally need a business valuation due to death, divorce or some other triggering event or situation, but all business owners can benefit from understanding and growing the value of their business, according to Tim McDaniel, principal and director of b

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