Fundera

APRIL 14, 2017

For more than 50 years, the U.S. Small Business Administration (SBA) has celebrated small business owners during National Small Business Week. What does National Small Business Week mean to your business? How can you take advantage of it or participate in the event? Here’s what you need to know. When Does Small Business Week Take Place? National Small Business Week is held every spring; in 2017, it runs from April 30 to May 6.

Small Businesses 92

Small Businesses 92

Abrigo

APRIL 13, 2017

Small businesses in the U.S. face cash flow challenges on a monthly basis, but are business owners and their advisors asking the right questions and addressing the critical areas to change course? Recent research by JPMorgan Chase Institute showed that the median small business has an average of only $7 more in daily cash inflow than it has in daily cash outflow.

Accounting Firms 68

Accounting Firms Small Businesses 68

Fundera

APRIL 14, 2017

For as much as we complain about our colleagues, workplaces would be boring—and ineffective—if we all shared the same personalities, motivations, and communication styles. That said, there’s a difference between individual personality types complementing each other and conflicting with one another. In fact, the Universal Class website cites research from Gatlin, Wysocki and Kepner suggesting that these differences can lead to challenges in the workplace if they aren’t appropriately addressed.

Credit and Collections 81

Credit and Collections 81

Fundera

APRIL 12, 2017

If you have bad credit but want to start a business, you can find financing options out there for you. While there are very few business credit cards for bad credit, you can get a personal credit card that lets you pay for your company’s expenses and rebuild your FICO score. We’ll help you find the right bad credit card for you, explain how to get a business card for bad credit with your personal history, and lay out exactly how secured credit cards work.

Credit Scoring 76

Credit Scoring Default Small Businesses Transactions 76

Fundera

APRIL 11, 2017

Do big banks approve business loans to our nation’s smallest businesses? If you’re someone who keeps up with the latest in the small business banking world, then you might be quick to answer, “No.”. You know how the numbers look: 80% of small business owners get shut down on bank loan applications, and bank lending to small businesses has dropped by over 20% in the last decade.

Small Businesses 76

Small Businesses Credit Scoring Default 76

Fundera

APRIL 12, 2017

Have you ever run a Google search for a product and clicked through one of the first few listings, then found yourself seeing promotions for that same product or others like it for days or even weeks afterward, seemingly everywhere you turn? Without even realizing it, you likely come into contact with Google advertising dozens—if not hundreds—of times per day.

Small Businesses 70

Small Businesses 70

Abrigo

APRIL 12, 2017

The FASBs Current Expected Credit Loss (CECL) model presents unique challenges for banking professionals. To help institutions prepare, Sageworks has launched a CECL webinar series covering data, segmentation, methodology and forecasting requirements broken down by loan type. A key component of the series is allowing participants to ask their CECL-related questions and below are several questions with answers relating to different methodologies; specifically, we take a look at common questions f

CECL 60

CECL 60

Abrigo

APRIL 10, 2017

In a recent Sageworks webinar , Ancin Cooley of Synergy Credit Union Consulting took a deep dive into five areas that credit unions interested in growing their MBL portfolios need to be aware of in order to effectively manage risk in the MBL portfolio. The first module that Ancin covered during the webinar was the current state of credit unions and the current regulatory environment.

Credit Unions 60

Credit Unions Credit Risk 60

Fundera

APRIL 9, 2017

It can be stressful trying to find a good, proactive tax advisor who is reputable, trustworthy, and will bring a ton of value to your working relationship. There are cases where someone has used the same tax professional for a long time and they are reluctant to change. Usually the client and tax advisor have built a great personal relationship over many years of working together.

Deductions 63

Deductions Transactions 63

Fundera

APRIL 13, 2017

When you’re starting a company , capital can be hard to come by. If you don’t have a long credit history or three to five years’ worth of sales records, you might find that banks are less willing to offer business loans. Business credit cards are an excellent financing option for new businesses, offering flexible loan amounts, alternatives to business credit scores, and sometimes rewards and perks.

Credit Scoring 62

Credit Scoring Default Transactions 62

Fundera

APRIL 13, 2017

On the hunt for business loans ? If you’ve shopped your financing options around a bit, then you’ve probably heard this before: “SBA loans are the best financing products available to small business owners.”. And nine times out of ten, that’s true. SBA loans are fantastic small business loans because they’re so affordable. Issued by the bank—and partially guaranteed by the SBA—an SBA loan carries an interest rate similar to the low rates you’d find with a traditional bank loan.

Nonprofit Organizations 58

Nonprofit Organizations Small Businesses 58

Fundera

APRIL 8, 2017

It’s hard to find many people with physical cash in their wallets anymore. But some people still like the idea of cash because it feels more immediate—and unlike credit cards, cash doesn’t come with fees. The same goes with businesses. When a customer gives them cash, they get it right away and they don’t get a statement at the end of the month that includes a bunch of fees.

Transactions 57

Transactions 57

Fundera

APRIL 10, 2017

Artcraft | Brand Video from Myriad Media on Vimeo. Look around Raleigh, North Carolina, and you’ll find the work of Artcraft Sign Company just about everywhere. The company has been brightening Raleigh storefronts for over 80 years with its custom, hand-crafted signs. Today, owner Jim Jackson continues the tradition with pride. When Jim took over Artcraft in 2009, it had already been in business for 75 years.

Small Businesses 52

Small Businesses 52

Fundera

APRIL 11, 2017

When you’re a customer, sales tax is pretty simple. You go to the store, buy something, and pay a small extra percentage on the item. But when you’re a product seller, sales tax gets a little more complex, especially if you sell online. I hear common sales tax myths and misconceptions from online sellers every day. Today, I want to lay to rest the five most pervasive sales tax myths.

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50

Fundera

APRIL 9, 2017

Let’s meet Zach… Zach owns a t-shirt company, Zach’s T-Shirts LLC. Business has been great—but he’s looking to expand so he can open a second location and bring on a few more employees! He’s researching his loan options — and he keeps seeing the terms amortizing loan and simple interest loan. Zach wants to know: “What’s the difference?” Let’s see!

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49

Fundera

APRIL 8, 2017

When making a decision between two small business funding options, you’ll often be asked if you prefer lower APR or a lower cost of capital. But what does that actually mean? APR or annual percentage rate (i.e. 15.18%), is the annual rate charged for a borrowing a sum of money. It’s standardized across the lending industry—and is the best metric for comparing loans, apples to apples.

Small Businesses 40

Small Businesses 40

Fundera

APRIL 10, 2017

As much as starting and running a business involves grit and good ideas, it also involves the delightful tedium of paperwork—and knowing which forms the government needs from you based on the type of business you own. That’s where IRS Form 8832 comes in. Businesses use this form to elect how they will be classified for federal tax purposes. If that sounds like gibberish to you, don’t worry: Take a look through our FAQ to decipher all you need to know about this business-specific tax form.

Default 65

Default Insurance Companies 65