Fundera

JULY 31, 2017

Online marketing is vital for any small business hoping to stay competitive. But what online marketing tactics should you focus on in your limited time is a busy entrepreneur? Here are 10 essential digital marketing tips for small business owners. 1. Start with Your Website. “Make sure you have an updated, mobile-friendly website that is easy for users to navigate across all devices and has a modern, clean design.”.

Small Businesses 111

Small Businesses 111

Abrigo

AUGUST 4, 2017

What do we do with all of these spreadsheets? The above question is being asked by financial managers at banks and credit unions as the implementation of the FASB’s current expected credit loss model ( CECL ) approaches. So, where did the use of all of these spreadsheets (and the dependence on them) come from? Over the past 40 years, computation tools used by professionals in financial institutions have evolved from pencils, erasers and 20lb electrical calculators to robust, web-based software m

CECL 60

CECL Credit Unions Default 60

FICO Blog

JULY 30, 2017

Home Blog FICO Modelling Deposit Price Elasticity: What Is It All About? A price elasticity model enables the product team to set deposit rates with a sound understanding of the expected performance from the rate strategy FICO Admin Tue, 07/02/2019 - 02:45 by Neel Williams Senior Principal Consultant expand_less Back To Top Tue, 04/18/2023 - 08:45 The banking industry is rapidly changing as leading financial institutions have begun using predictive modelling and price optimization to improve dep

Credit Risk 52

Credit Risk 52

Fundera

JULY 29, 2017

Many small businesses overlook local marketing. They’re too busy getting caught up trying the strategies of Fortune 500 companies. Following the marketing strategies of the big players is great in theory. But unless you can compete with those huge marketing budgets, you’re likely not going to see the same levels of success. I’d guess you’re not one of those brands.

Small Businesses 81

Small Businesses 81

Fundera

AUGUST 2, 2017

Jargon Busters: What is APR and Why Should You Care? In the world of finance, it’s easy to lose yourself in a sea of acronyms, and it’s also easy to let all the jargon intimidate you. Luckily, many of these acronyms are super easy to clear up. With a little clarifying, you don’t have to be scared of all the terminology. For example, at one point, we’ve all wondered to ourself, “What is APR?

Credit Card Companies 79

Credit Card Companies Small Businesses 79

Abrigo

AUGUST 3, 2017

The FDIC paper The Entry, Performance, and Risk Profile of De Novo Banks published in April 2016 reports that the number of de novo bank failures and acquisitions annually has drastically declined since 2010, primarily due to the fact that new bank formations have become nearly inexistent. Cheryl Monk, a writer in New York, reviews the de novo environment in her article published in the July 2017 issue of Independent Banker.

Credit Unions 60

Credit Unions Credit Risk 60

Abrigo

AUGUST 1, 2017

In order to prepare for FASB’s Current Expected Credit Loss (CECL) model, credit unions are currently relying on different methods to collect and store data. In the recent CECL Webinar: Data Quality for Credit Unions , Sageworks Risk Management Consultant Danny Sharman discusses the three different types of methodologies for data collection. 1. Limited Data Collection Method In this method, credit unions leverage core system(s) to capture data.

Credit Unions 60

Credit Unions CECL Credit and Collections 60

Fundera

AUGUST 3, 2017

Running a small business is no easy feat. Having to deal with the administrative issues, like accounting, adds to the challenge. Thankfully, accounting tools like Xero can help you manage your books a little easier. Xero is a browser-based accounting app that lets you access and update your books from any place that has internet connectivity. In this article, we review pricing, main features, and compare Xero with other accounting apps like FreshBooks and QuickBooks.

Dashboards 65

Dashboards Transactions Small Businesses Default 65

Fundera

AUGUST 1, 2017

Need some extra cash to get the wheels turning on your business or business project? Maybe you’re worried about depleting your cash reserves too quickly while taking a risk on a new venture. Whatever it is, there are multiple ways to secure financing for a business if needed: loans , mortgages, grants, credit, and more. One of the easiest ways to secure financing, however, is establishing a line of credit.

Credit Scoring 64

Credit Scoring Transactions 64

Fundera

AUGUST 1, 2017

Maybe you’re worried that your credit is too low to qualify for a small business loan. Or perhaps you’re afraid of damaging your credit when lenders pull your score. Whatever the reason, you want to know whether or not you can find a small business loan with no credit check. The short answer? Not really. At least not for traditional financing. Lenders need to check your credit to understand how much risk they’re taking on if they qualify you for a loan.

Small Businesses 63

Small Businesses Credit and Collections Credit Scoring Transactions 63

Fundera

AUGUST 3, 2017

If your small business has racked up a lot of credit card debt, you may be looking for a balance transfer card that will give you some time to pay down your debts interest-free. However, many 0% APR cards charge a balance transfer fee—a 3-5% levy on the amount you transfer. In some cases, the balance transfer fee can outweigh the savings on interest.

Credit Scoring 55

Credit Scoring Small Businesses Transactions 55

Fundera

AUGUST 1, 2017

As a savvy consumer, you’ve got a handle on your personal finances—meaning you know where your personal credit score stands month-to-month. But as a new business owner, you might not know anything about your startup’s business credit—why it’s important, what yours looks like, and how to establish and build it. If you’ll ever need credit for your business in the future—with a small business loan , or business credit card —then your business can’t just get by on the coattails of your strong person

Credit Reporting Agencies 81

Credit Reporting Agencies Credit Scoring Credit and Collections Small Businesses 81

Abrigo

AUGUST 3, 2017

Is it reasonable to expect a chef to prepare a gourmet meal when her only resources are dull knives, expired food and an oven that does not heat properly? Of course not, because despite the chef’s training and experience, she lacks the basic tools and quality ingredients necessary to even create something edible, much less exquisite. The same holds true for CPAs and business advisors trying to create a thriving practice without proper technology or staffing.

Accounting Firms 74

Accounting Firms 74

Fundera

JULY 30, 2017

Cybersecurity issues are top of mind for many small and midsize businesses, thanks in part to high-profile threats like the recent WannaCry ransomware attack , which crippled hundreds of thousands of computers around the world. Ransomware, data breaches, hackers, and other cyberthreats are making headlines every hour of every day. Just one wrong click by a single employee can have disastrous results for your business.

Cybersecurity 89

Cybersecurity Small Businesses 89

Fundera

JULY 30, 2017

As a small business owner, the day may come when you turn to outside sources for financing. Perhaps you’ve run into a cash flow problem and need a small business loan or line of credit to tide you over. Or you may be expanding your business and want a partner who can help you pay for the upfront costs. Traditionally, small business owners have turned to local banks or credit unions for funding.

Credit Scoring 75

Credit Scoring Credit and Collections Credit Unions Small Businesses 75

Fundera

AUGUST 2, 2017

Let’s face it, most small business owners start their business because they are passionate about what they do and they work tirelessly to grow their business and realize their vision. One of the biggest challenges for many business owners is finding quality expert advice to help them learn and understand what their financial and tax obligations are and how to read and use reports and KPIs (key performance indicators) to effectively manage their business.

Bad Debt 75

Bad Debt Credit and Collections Small Businesses Transactions 75

Fundera

JULY 31, 2017

Does that shiny, new business credit card have you feeling legit? We understand. Having a direct line to on-demand cash in your pocket can be a great feeling for any small business owner—and those rewards and the boost to your credit don’t hurt, either. While you should still spend cautiously, we don’t blame you for having that extra spring in your step, and neither do these GIFs. 1.

Small Businesses 61

Small Businesses 61