Lendio

APRIL 11, 2024

All great questions, and that’s why we put together this definitive guide to buying out a competitor. Why should you buy a competing company? Any merger or acquisition is risky—so why should any business gamble with it? You’ll need to have worst-case-scenario plans and resources ready to replace them. SBA 7(a) loan.

Small Businesses 98

Small Businesses Bankruptcy Credit Scoring Transactions 98

Abrigo

JULY 20, 2021

Looking to Increase SBA Loan Origination? From leveraging PPP technology to building relationships, reasons for boosting SBA lending are numerous. . Want other articles like this on SBA loan origination in your inbox? Why SBA Lending? SBA loan origination can leverage PPP tech, experience to expand relationships.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

JULY 20, 2021

Looking to Increase Loans through the SBA? From leveraging PPP technology to building relationships, reasons for boosting SBA lending are numerous. . Takeaway 1 SBA lending can expand your product offerings to help win deals with prospects and existing business customers or members. Why SBA Lending?

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

JUNE 3, 2019

SBA Lending Can Be a Hidden Gem for Some Institutions. With proper planning and the utilization of technology, SBA lending can boost customer acquisitions and deposits. So why are only 15.4 active SBA lenders? Many argue that SBA lending is complicated, and while that’s true, it’s actually a good thing.

Credit Unions 60

Credit Unions Small Businesses 60

Abrigo

APRIL 8, 2020

I’m late to the party – why should I automate now? Financial institutions must automate and streamline PPP loans to serve your local small businesses effectively and ensure they have the resources needed to thrive. Financial institutions that take swift action now can quickly become the heroes their small businesses need. Get Started.

Credit Risk 78

Credit Risk Credit and Collections Credit Unions Small Businesses 78

Lendio

FEBRUARY 22, 2023

Small Business Administration (SBA) offers a variety of attractive loans to small businesses in the U.S. SBA Express loans are one popular loan option you might want to consider if you need no more than $500,000 in funding. What Is An SBA Express Loan? The SBA responds to applications for these types of loans within 36 hours.

Credit Unions 52

Credit Unions Credit Scoring Small Businesses 52

Credibly

OCTOBER 31, 2023

What if I had an SBA loan? What if I had an SBA loan? If you default on a Small Business Administration (SBA) loan, you’re still responsible for addressing the lender’s loss. SBA loans often require collateral, so if you default, this collateral can be liquidated. What happens if your business defaults on a loan?

Default 40

Default Credit Scoring Credit and Collections Bankruptcy 40

Fundera

MAY 4, 2020

If for some reason you are denied a PPP loan, or you otherwise can’t obtain one, you need to find another financial resource for your business. . Let’s review the reasons why you might not be able to obtain a PPP loan, and what you can do to help keep your business running instead. . Why Some Small Businesses Are Denied PPP Loans.

Credit Unions 74

Credit Unions Small Businesses Credit Scoring Default 74

Lendio

NOVEMBER 8, 2023

The lender will need to put time and effort into selling the asset before they actually get paid, which is why collateral must often be worth more than the actual value of the loan. Secured SBA loans If you default on a SBA loan , your first interactions will be with the lender who funded the loan.

Default 52

Default Credit Scoring Credit and Collections Bankruptcy 52

Lendio

MARCH 31, 2023

SBA loans, for example, have maximum interest rates lenders can charge borrowers, which is why they are some of the most sought-after business loans on the market. There are a variety of SBA loans on the market that may help your business. How Many Different Types Of SBA Loans Are There? FAQs Does the U.S. No, the U.S.

Default 52

Default Credit Unions Small Businesses 52

Abrigo

OCTOBER 20, 2021

Whether it’s because of resistance to change, a lack of training, or a lack of resources, there are many obstacles to adoption that financial institutions must consider in order to get return on their investment. Any software is expensive – whether that is the upfront cost or the number of resources it takes to implement. SBA Lending.

Credit Risk 78

Credit Risk Credit Unions 78

Fundera

FEBRUARY 17, 2020

There are, of course, a lot of reasons why you might want funding as a nonprofit: building out infrastructure, paying employees, marketing yourself, investing in development, and more. Here’s an overview as to why you might find the process slightly more challenging. SBA Loans and Grants. They Are Tough to Obtain.

Nonprofit Organizations 96

Nonprofit Organizations Credit Unions Default Small Businesses 96

Abrigo

JUNE 13, 2019

Only 178 credit unions, or 3%, were active lenders in the most popular SBA program, the 7(a) loan program, in federal fiscal 2018. This is the case, despite the fact that SBA lending has gained momentum among small businesses in the past five years. billion) during that time period, based on SBA statistics. billion from $27.8

Credit Unions 60

Credit Unions Small Businesses Credit Risk 60

Fundera

APRIL 16, 2020

Less than two weeks later, all of the funding allocated for the program is gone, as lenders submitted more than 1 million applications for financial relief to the SBA on behalf of their small business customers. . Look Into State and Local Resources. Review our list of state-by-state resources to see what might be available.

Credit and Collections 77

Credit and Collections Small Businesses 77

Credibly

APRIL 13, 2023

We also discuss why loans are great financing options and other alternatives to government loans. the Small Business Administration (SBA) is an independent agency operating under the federal government. Now let’s look at several SBA loan options that women entrepreneurs should consider: 1.

Small Businesses 40

Small Businesses Credit Scoring Default 40

Credibly

APRIL 13, 2023

We also discuss why loans are great financing options and other alternatives to government loans. the Small Business Administration (SBA) is an independent agency operating under the federal government. Now let’s look at several SBA loan options that women entrepreneurs should consider: 1.

Small Businesses 40

Small Businesses Credit Scoring Default 40

Fundera

MAY 10, 2017

Here’s exactly how the SBA defines small business and why they set these definitions in the first place. The SBA sets numerical definitions, or “size standards,” for every non-profit small business in the United States—based on the business’s number of employees and average annual receipts. What Defines a Small Business?

Small Businesses 105

Small Businesses 105

Lendio

NOVEMBER 7, 2023

Understand why an existing business is up for sale Before you sign on the dotted line and purchase a business, determine why it’s on the market in the first place. Don’t be afraid to ask the current owners why they’re selling their venture and what challenges they’ve encountered over the years.

Small Businesses 97

Small Businesses Credit and Collections Credit Scoring 97

Abrigo

MAY 18, 2023

Takeaway 3 Use these tools to consider how much their resources can support while meeting regulatory expectations. Scope and depth Why use scope and depth to discuss loan review? Loan officers should examine their processes’ scope and depth and consider how much their resources can support while meeting regulatory expectations.

Credit Risk 78

Credit Risk Credit and Collections Default Credit Scoring 78

Fundera

DECEMBER 12, 2018

You already know that the Small Business Administration is the government organization that guarantees affordable business loans for small businesses, but did you know they provide invaluable resources for entrepreneurs, too? That’s right— SBA loans aren’t all the SBA offers. American Express Shop Small Forum.

Small Businesses 89

Small Businesses 89

Fundera

JULY 30, 2017

That’s why it’s never been more important to educate employees on how to protect themselves and the business from cybersecurity threats. Take advantage of free resources from the SBA. One place to look for free cybersecurity training resources is the website of the U.S. Small Business Administration (SBA).

Cybersecurity 89

Cybersecurity Small Businesses 89

Fundera

AUGUST 16, 2018

SBA loans are among the best financing options for small business owners. SBA loans are designed to offer a path to affordable financing when an entrepreneur’s other options haven’t panned out. The problem for small business owners is that SBA loans are actually highly selective—lenders end up denying hundreds of applications.

Credit Scoring 80

Credit Scoring Bankruptcy Small Businesses 80

Fundera

APRIL 1, 2018

SBA loans have a long timeline for both, so it’s a reasonable thing to wonder if the advantages of SBA loans are that significant that the extra time and effort is really worth it. If you’re thinking about applying for an SBA loan , you’re looking into the best small business loan product on the market. Hence, SBA loans.

Small Businesses 75

Small Businesses Credit Scoring Default 75

Fundera

MARCH 9, 2017

First, to quote from the SBA’s website, “ The federal government does NOT provide grants for starting and expanding a business. According to the SBA, some states do provide grants to businesses whose work benefits the region and its residents. You can check out where your local contest is by using the SBA’s map of host locations.

Small Businesses 107

Small Businesses Nonprofit Organizations 107

Fundera

DECEMBER 15, 2018

The path to entrepreneurship is certainly harder for people of color, but there are resources that can help. Make sure you’re taking advantage of all the opportunities available to you: See our roundup of the 25 best minority business grants and other resources aimed toward minority entrepreneurs.

Deductions 76

Deductions Nonprofit Organizations Small Businesses Credit Scoring 76

Abrigo

OCTOBER 19, 2020

History of BSA/AML Day Learn why BSA/AML Day was created and the significance of the day. National Day Calendar Get more resources on this nationally recognized day. SBA Lending. Honor BSA/AML Professionals on October 26th Professionals across the nation are encouraged to celebrate National Financial Crime Fighter Day. .

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78

Fundera

MAY 9, 2019

SBA 7(a) Loans. SBA 7(a) Loans. Yet another highly coveted loan, the SBA 7(a) loan is disbursed by banks but guaranteed by the U.S. Because of that government backing, banks are a bit less risk-averse in approving SBA loans, which makes these loans more accessible to borrowers who may not otherwise qualify for bank financing.

Credit Scoring 75

Credit Scoring Default Small Businesses 75

Fundera

OCTOBER 3, 2016

SBA Community Groups. You already know that the Small Business Administration is the government organization that guarantees affordable loans for small businesses… But did you know that they provide invaluable small business resources for entrepreneurs, too? That’s right— SBA loans aren’t all the SBA offers.

Small Businesses 105

Small Businesses 105

Fundera

NOVEMBER 2, 2018

Here, we’ll tell you why you should put your fears aside and consider government contracts for small businesses. Why Seek Government Contracts for Small Businesses? However, for the purposes of qualifying for government contracts for small businesses, you need to qualify according to SBA size standards. government.

Small Businesses 75

Small Businesses Nonprofit Organizations 75

Fundera

DECEMBER 13, 2018

SBA 7(a) Loan. Yet another highly coveted loan, SBA 7(a) loans are disbursed by banks but guaranteed by the U.S. Because of that government backing, banks are a bit less risk-averse in approving SBA loans, which makes these loans more accessible to borrowers who may not otherwise qualify for bank financing.

Credit Scoring 75

Credit Scoring Default Small Businesses 75

Team Financial Group

OCTOBER 17, 2022

Then we’ll present solutions that pull from resources other than banks and other traditional lenders. Why Is It Hard to Get a Small Business Loan From a Bank? This includes explaining why each piece of equipment you’re trying to finance is vital to your business. Minimal Investment by Business Owner.

Small Businesses 52

Small Businesses Credit Scoring Default 52

Fundera

SEPTEMBER 11, 2017

But with limited financial resources, where can you get the money you need for your startup? However, we found some useful resources that will help you in your quest to start over. If you’re currently incarcerated, take advantage of any resources that exist inside the prison system before your release. SBA Microloans.

Medical Billing 92

Medical Billing Small Businesses 92

Fundera

JUNE 4, 2018

But it’s an overwhelming one, which is why many business owners seek out small business loan assistance. Also created and sponsored by the SBA, SCORE provides free counseling, advice and mentoring for business owners. A good loan broker can be an invaluable resource, but proceed with caution. Will they give you references?

Small Businesses 80

Small Businesses Credit Scoring 80

Fundera

SEPTEMBER 14, 2016

Read on to learn why. You can also secure short-term loans , SBA loans , and equipment financing with Wells Fargo—making its lending program one of the most flexible options for small business owners. Why Wells Fargo Stands Out. Wells Fargo has a well-established SBA lending program already set up.

Small Businesses 101

Small Businesses Transactions 101

Fundera

SEPTEMBER 14, 2016

Read on to learn why. You can also secure short-term loans , SBA loans , and equipment financing with Wells Fargo—making its lending program one of the most flexible options for small business owners. Why Wells Fargo Stands Out. Wells Fargo has a well-established SBA lending program already set up.

Small Businesses 100

Small Businesses Transactions 100

Fundera

AUGUST 22, 2018

And if you’re applying for an SBA loan in particular, your workload might increase that much more. Simply due to the amount of planning, financial reporting, and paperwork it takes to apply for an SBA loan—let alone get approved—it’s worthwhile to seek an SBA loan consultant to facilitate the process.

Brokerages 40

Brokerages Nonprofit Organizations Small Businesses Credit Scoring 40

Fundera

MARCH 6, 2018

But if they offer so many loan products—which they do—how hard is it to get an SBA loan? SBA loans tend to carry the lowest interest rates and longest repayment terms available, while also offering funding for amounts more substantial than borrowers might otherwise find. What Is an SBA Loan? It’s tough!

Credit Scoring 76

Credit Scoring Small Businesses Bankruptcy Transactions 76