Fundera

FEBRUARY 24, 2016

When a craving for something sweet hits, there isn’t much else that can scratch that itch. A healthy snack might tamp down those hunger pangs, but nothing is quite as emotionally satisfying as a sugary treat. That realization hit Kristen Tomlan, the founder of New York-based cookie dough bakery DŌ , after she found herself turning away too many potential customers due to a business model that focused only on completing online orders.

Retail Companies 76

Retail Companies Small Businesses 76

Abrigo

FEBRUARY 29, 2016

Two-thirds of bankers in a recent poll said their allowance for loan and lease losses (ALLL) is primarily calculated by only one or two people in the institution, according to Sageworks, a financial information company that provides loan portfolio and risk management solutions to banks and credit unions. Sageworks conducted the poll of more than 600 individual bankers from both banks and credit unions during a recent CECL Workshop webinar in order to determine what problems currently plague the

Credit Unions 60

Credit Unions CECL 60

GoCardless

FEBRUARY 29, 2016

GoCardless has helped businesses in the hospitality sector like Bookatable and Zenchef. Here’s how.

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Fundera

FEBRUARY 23, 2016

They say diversity is the spice of life… And boy, taking out a business loan can be pretty spicy. There are plenty of reasons why you might want to get a loan for your business from a bank or alternative lender—ranging from making payroll next week to expanding your operations with another location, and everything in between—so it’s fitting that there are more than a few kinds of loans to pick from.

Credit Scoring 76

Credit Scoring Small Businesses Transactions 76

Fundera

FEBRUARY 22, 2016

Ma Joie Press from SALTBOX on Vimeo. “A lot of people don’t appreciate industrial equipment the way I do,” says Katrina Huffman. That industrial equipment she’s talking about? Her antique letterpress, the cornerstone of her printing business. Using a combination of old and new technology, Katrina crafts letterpress invitations and paper goods from her studio in Dallas, Texas.

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Fundera

FEBRUARY 16, 2016

At its core, alternative lending just means the lending industry outside of traditional banks. But in recent years—especially since the 2008 financial crisis—alternative lending has grown and grown. Invested in technology, data analysis, and special algorithms, startups began to capture the small business market previously ignored or denied by banks.

Small Businesses 76

Small Businesses Credit Scoring Credit and Collections Investment Firms 76

Fundera

FEBRUARY 15, 2016

During the summer of 2011, Mark Piantedosi hired his teenage son Michael to work for his landscaping company. It was one of his best business and parenting moves so far. Piantedosi, owner of Rudy’s Tree & Landscape and Commonwealth Landscape Lighting in Acton, Massachusetts, taught his now 21-year-old son everything about working at his landscaping and lighting design businesses.

Deductions 76

Deductions 76

Fundera

FEBRUARY 12, 2016

Are you seeking a short-term line of credit for your business to get over a cash flow crunch or handle unexpected expenses? Getting a line of credit from a business bank can be time-consuming and difficult—you’ll need to fill out a pile of paperwork, and probably put up some collateral. If you need a line of credit quickly, consider working with an alternative lender like OnDeck or Kabbage.

Credit Scoring 76

Credit Scoring Deductions 76

Fundera

FEBRUARY 10, 2016

The main advantage of a franchise is hard to overlook: they combine the flexibility and independence of small business ownership with the infrastructure, reach, and support of a large corporation. In many ways, it offers the best of both worlds. Because many franchises offer access to a proven business model, startup fees and costs can often be significant for the franchisee.

Credit Scoring 76

Credit Scoring Small Businesses 76

Fundera

FEBRUARY 10, 2016

Some people are just born to be entrepreneurs. They’ve got a streak of independence that makes them absolutely determined to succeed on their own. But for many wanna-be entrepreneurs, it can difficult to decide exactly what kind of business would be the best choice. It’s tough to find that perfect idea! If you’re determined to start your own business, you probably know at least these two things for sure: you want to be your own boss, and you want to make a profit.

Small Businesses 76

Small Businesses 76

Fundera

FEBRUARY 9, 2016

Looking to borrow money for your business but not sure what your commercial financing options are? Here’s a quick overview of the 6 most common commercial financing options to keep your business on track. 1. Traditional Term Loan. This is the type of commercial financing you’re likely most familiar with—their flexibility and simplicity make them attractive.

Small Businesses 76

Small Businesses 76

Fundera

FEBRUARY 8, 2016

Mario Bazán Cellars: Every Vine Has a Story from Carlos Foster on Vimeo. When Mario Bazán arrived in Napa, he knew where he wanted to spend the rest of his life. Mario is a winemaker—and the founder of Mario Bazán Cellars , a vineyard located in Napa Valley, California. He’s been growing grapes since 1973. When Mario first arrived in California from Mexico, he did manual labor for Napa’s vineyards out of necessity, but soon fell in love with the work.

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Fundera

FEBRUARY 5, 2016

For small business owners, insurance can be a huge pain. It’s just one more “trivial” item to add to the never-ending list of to-dos, right? The truth is that it’s one of the most important protections an entrepreneur can purchase, and it doesn’t have to be a confusing pain to get. . Let us save you the time and frustration. Here are the 4 major steps to getting a quality insurance program in place—and making the most of it!

Brokerages 76

Brokerages Credit and Collections Small Businesses Deductions 76

Fundera

FEBRUARY 5, 2016

2 years. 730 days. 17,520 hours. However you want to put it, we’ve spent a long time here at Fundera trying to help small business owners get what they deserve. We’re always looking forward to what’s up next, but for our second year anniversary, we thought we’d take a glance back and celebrate what’s been accomplished so far.

Small Businesses 75

Small Businesses 75

Fundera

FEBRUARY 3, 2016

They say beauty is in the eye of the beholder—and as it turns out, the same can be said for the best small business ideas. While the options for small business ownership seem endless, what defines a “best” idea largely depends on the personality of the entrepreneur. What are your skills and interests? Who is your ideal client? What is your ideal work environment?

Small Businesses 76

Small Businesses 76

Fundera

FEBRUARY 2, 2016

The word “transparency” gets thrown around a lot—but what does it actually mean? In small business lending, it means access to industry-wide information on eligibility requirements and rate trends. It means clear and concise explanations of all the different loan products available. It means holding lenders and brokers accountable for their actions, and enforcing honesty on every level.

Small Businesses 76

Small Businesses Credit Scoring Transactions 76

Fundera

FEBRUARY 1, 2016

Scott Riebling spent much of his childhood making pizza, dreaming of someday opening his own pizzeria. He also focused on his other passion: music and playing in bands. . The Pittsburgh native moved to Boston to attend Berklee College of Music. His music career took off while he placed his pizza dreams on the backburner. Riebling toured the world playing bass for bands like Weezer and Letters to Cleo (an alt rock band remembered for their presence in 10 Things I Hate About You) starring Julia S

Small Businesses 76

Small Businesses 76

Fundera

FEBRUARY 2, 2016

If you’re old enough to own a business, then chances are good that you remember the YellowPages phone directory that sat on your parents’ kitchen counter. Back in the day, if someone needed to find anything—from a local restaurant to the closest plumber—the YellowPages was the place to look. Times have changed, and now we look for these services online.

Small Businesses 75

Small Businesses 75

Fundera

FEBRUARY 17, 2016

Just as you monitor your personal credit score by reviewing your credit reports periodically, it’s important to keep up to date on your business’s credit score by regularly reviewing its credit reports, too. Your business credit score affects your ability to get loans, enter into leases, and make purchases—and since other businesses, banks, and lenders can check it at any time without your permission, you want to make sure that it’s completely accurate.

Credit Reporting Agencies 75

Credit Reporting Agencies Credit Scoring Credit and Collections Bankruptcy 75

Fundera

FEBRUARY 18, 2016

This week’s Fireside Chat: Meredith Wood, Editor-in-Chief, sits down with Manny Sevillano, Loan Specialist, to break down what DSCR is—and why your business needs to know this number before applying for a loan. What exactly is a DSCR? How can you figure yours out? And why do lenders care about it? Watch to find out—and tweet @ Fundera with the hashtag #FunderaFiresideChats if you have questions for our next one!

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Fundera

FEBRUARY 8, 2016

Millions of Americans agree: Getting in shape is easier when you have a gym membership. The fact that most gym franchises have the tools for a variety of workouts—from machines to classes to free-weights—that most people can’t keep at home is one thing. The financial incentive to not let your monthly or yearly fee go to waste is also strong. That might help explain why there are over 30,000 gyms and health clubs in the U.S. alone, with paid memberships rising steadily since the early 2000s.

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Fundera

FEBRUARY 15, 2016

If you’re a small business owner frustrated by outstanding accounts receivables, you might have heard of invoice financing and invoice factoring as possible solutions to dealing with a slow cash flow. And while both invoice financing and invoice factoring could help smooth out cash flow issues, it’s important to know before evaluating these options that they aren’t the same thing.

Credit and Collections 75

Credit and Collections Invoice Amount Small Businesses 75

Fundera

FEBRUARY 22, 2016

Applying for a business loan takes plenty of time, energy, focus, and preparation. So the last thing you want to happen, after putting in all of that effort, is to get your application turned around by a lender. Sometimes, your business loan application will be rejected or delayed for a fairly obvious reason—a low credit score, missing important documentation, not enough cash coming in.

Credit Scoring 75

Credit Scoring 75

Fundera

FEBRUARY 3, 2016

Congratulations! Your application for a business loan was approved and funded… Now what? You might think that’s the end of the story. After all, you got what you wanted, right? But depending on what you do once you’ve received that business loan, this could be a great opportunity to better position your business for future borrowing success—maybe even giving you access to more money at lower rates.

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Fundera

FEBRUARY 18, 2016

Here’s something that most new entrepreneurs learn very early: even the best business idea can’t fully blossom if there isn’t enough capital to support it. A healthy business needs growth—and growth takes money. This leads to an age-old conundrum for small business owners: how do you raise enough capital to let your business flourish?

Credit Scoring 75

Credit Scoring Default Small Businesses 75

Fundera

FEBRUARY 9, 2016

Location, location, location: it’s not just something for real estate agents to keep in mind. If you own a small business, then you’ll definitely want to be aware of your community and surroundings. Your location can influence your business on a couple of different levels. Where your store actually stands makes a difference: is it in a popular shopping center or just off a major highway?

Small Businesses 74

Small Businesses 74

Fundera

FEBRUARY 24, 2016

As all small business owners know, there are tons of times where you’ll need cash unexpectedly, whether to cover yourself during a tough season or to go after a growth opportunity. Many business owners like to have a business credit card or line of credit on hand just in case—since both offer revolving credit, you can borrow up to the maximum amount and pay whatever you withdraw back over and over.

Credit Scoring 73

Credit Scoring Default Small Businesses 73

Fundera

FEBRUARY 1, 2016

So you got your first one-star review, or a last-minute cancellation, or a furious message in your support inbox. Take a deep breath, count to ten, and repeat these affirmations: 1. “I will not take criticism personally.”. Don’t give into a dark spiral of self-reproach—or righteous anger. Your upset customer is almost certainly not considering the thinking, feeling person behind the business they’re roasting.

Small Businesses 73

Small Businesses 73

Fundera

FEBRUARY 25, 2016

Entrepreneurs are well-known for their fearlessness and steady hands. But even with the guts to brave the business world head-first, they still get anxiety attacks thinking about a tax audit. Companies get audited for any number of reasons, but what makes some businesses more likely to be audited than others? Here are some issues that might lead to an IRS audit. 1.

Deductions 72

Deductions 72

Abrigo

FEBRUARY 24, 2016

By Warren Sheydwasser With no shortage of tasks to complete during tax season, many financial professionals don’t need help expanding their to-do list. Given that it’s one of the few times during the year you will likely connect with all of your clients, some additional communication strategies can go a long way to promoting your services and expanding fee revenue.

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Abrigo

FEBRUARY 23, 2016

Financial institutions face a range of challenges arising from issues that are external to the bank or credit union, including: - Interest rate environment - Changing regulatory and accounting landscape - Competitive pressures, especially for commercial and industrial (C&I or MBL) loans. After several years of trying to mitigate the impact of low interest rates on net interest margins, financial institutions are determining how rising rates will impact growth strategy and profitability.

Credit Unions 60

Credit Unions CECL Credit Risk 60