Fundera

OCTOBER 13, 2020

According to the Urban Institute, a Black-owned bank is defined as a financial institution that provides services to minority communities and is 51% or more Black-owned. [1] Black-owned banks have been around since 1888, but they’ve stagnated in recent years. Although there were 48 Black-owned banks in 2001, there are fewer than 25 today (not including a number of credit unions). [2] As the Black Lives Matter movement continues to be at the forefront of people’s minds, it’s a good time to be mo

Credit Unions 122

Credit Unions Small Businesses 122

Abrigo

OCTOBER 15, 2020

Key Takeaways SBA payments to lenders for forgiven Paycheck Protection Program (PPP) loans are starting to flow. Lenders are continuing to work with other borrowers to apply for forgiveness, and they’re now incorporating the SBA’s newest alternative form: SBA Form 3508S for borrowers who received loans of $50,000 or less. The SBA also clarified that while SBA forms expire Oct. 31, that is not a deadline for borrowers to apply for forgiveness.

Credit Risk 88

Credit Risk CECL Credit Unions Small Businesses 88

Priority Credit Management Corporation

OCTOBER 16, 2020

“When I grow up, I want to be a debt collector.”. Said no one ever. I didn’t. I was raised on the farm, so my first career choice was to own an equipment repair shop. My dad and uncles could fix anything. (I mean anything!). As I got older, being clean and dressing in a suit held much more appeal. I remember driving down Jasper Ave in downtown Edmonton telling my parents.

Debt Collections 52

Debt Collections Collector Credit and Collections Law Firms 52

Sansan

OCTOBER 13, 2020

Networking events for just about every industry you can imagine have moved online, removing the human aspect out of the process and replacing it with screens and webcams.

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Fundera

OCTOBER 12, 2020

It’s been over six months since the Paycheck Protection Program first began accepting loan applications from small business owners affected by the coronavirus pandemic. Since then, the majority of borrowers have been left in the dark on whether the federal government will forgive their loan, according to Fundera’s latest survey of business owners. The PPP has undergone many changes since the program was first unveiled as part of the CARES Act.

Small Businesses 102

Small Businesses 102

Abrigo

OCTOBER 15, 2020

Key Takeaways Economic relief payments are often subject to fraud – PPP is no exception. BSA Officers should be aware of PPP red flags to identify potential fraud. Pay attention to key indicators, like new EINs, abnormal transaction activities, and new business incorporations. Economic relief payments are often subject to fraud, and the Paycheck Protection Program (PPP) is no exception.

Credit Risk 60

Credit Risk CECL Transactions Small Businesses 60

Fundera

OCTOBER 16, 2020

Running a small business comes with a lot of responsibilities, particularly when you have employees. Managing employee payroll is an important task that can often feel overwhelming. Luckily, thanks to innovative payroll services on the market, handling payroll can be streamlined and simplified. Two of the top names in the payroll business are Gusto and Square.

Dashboards 98

Dashboards Small Businesses 98

GoCardless

OCTOBER 15, 2020

We’ve partnered with Tide to take the hassle out of invoice payments.

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52

Fundera

OCTOBER 15, 2020

Organizing your business receipts is an important part of tracking your business expenses. Not only does keeping your receipts organized help you prepare your business tax return, but it also helps you protect your business from a loss of profitability and even fraud. Unfortunately, organizing receipts falls under the category of “filing”—a part of business accounting dreaded by many business owners and their administrative staff.

Transactions 105

Transactions Credit Card Companies 105

Fundera

OCTOBER 14, 2020

Top Collaboration Tools for Business. Google Docs: Best for document sharing. Slack: Best for communication. ProofHub: Best for project management. InVision: Best for product design. Hightail: Best for security. Evernote: Best for note-taking. Basecamp: Best for remote workers. Trello: Best for assigning tasks. Huddle: Best for client management. BambooHR: Best for HR.

Dashboards 74

Dashboards Small Businesses 74

Fundera

OCTOBER 10, 2020

Unearned revenue might seem like a contradiction in terms. If a customer gives you money for a product or service, haven’t you earned the revenue? Not necessarily. If you run a business where your customers pay you in advance for products or services you haven’t yet delivered, then you must understand unearned revenue. In particular, you need to be familiar with how unearned revenue is handled in your business accounting , how it affects your taxes, and how to manage the cash sitting in your ban

Insurance Companies 65

Insurance Companies Transactions 65