Your Virtual Credit Manager

OCTOBER 15, 2024

Companies are increasingly under duress, especially small and medium-sized businesses (SMBs). While profitability at the largest corporations has risen, it has been falling at firms with revenue below $1 billion. Roughly two-thirds of firms in this cohort are operating a breakeven or worse. While the Fed has finally loosened interest rates, the cost of commercial loans are expected to remain well above the levels experienced prior to the Covid pandemic.

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RMAi Blog

OCTOBER 10, 2024

The Receivables Management industry mourns the loss of a true visionary, Larry Vasbinder, founder of Second Round, who passed away unexpectedly this past weekend after post-surgical complications. Larry’s legacy is one of innovation, resourcefulness and an unwavering commitment to improving the consumer experience. His absence is deeply felt. Starting his career in public accounting in 1990, Larry became a Certified Public Accountant and joined the tax department of KPMG Peat Marwick, furthering

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TMC Financing

OCTOBER 9, 2024

490 Small Businesses Served, Securing Over $1.8 Billion in Total Financing for Fiscal Year 2024 For the fourth consecutive year, TMC Financing is named the No. 1 U.S. Small Business. The post TMC Financing Celebrates Four Consecutive Years as the Nation’s #1 SBA 504 Lender, Breaking New Records appeared first on TMC Financing.

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Due

OCTOBER 10, 2024

Eight individuals in the Eastern District of New York have been charged with participating in a $68m Medicaid fraud scheme targeting adult day care and home healthcare services. The indictment was unsealed today in Brooklyn, New York, and focused primarily on Akia Khan, who owned two social adult daycares, Happy Family Social Adult Day Care Center Inc.

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Abrigo

OCTOBER 9, 2024

How to build a successful Q factor framework under CECL Understanding the quantitative side of the CECL calculation means developing defensible qualitative factors, or Q factors. Learn best practices to adjust for risk. Would you like other articles on CECL and Q Factors in your inbox? Takeaway 1 Q factors offer a way to adjust for risks that aren't fully captured in historical data or quantitative models Takeaway 2 Building a robust Q factor framework requires a systematic approach, regular mon

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RMAi Blog

OCTOBER 11, 2024

MENLO PARK, CA – Latitude by Genesys , a leading debt collection software solution, is dedicated to positively impacting the communities where its employees and executives live. Recently, Latitude donated to the Food Bank of Northeast Georgia, a non-profit organization committed to alleviating hunger and addressing food insecurity across the region.

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Accounting Department

OCTOBER 8, 2024

Budgeting is crucial for any business that wants to succeed in the long term. As a business owner of a small to medium-sized business, you may have experienced the challenges of creating and implementing a budget.

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OCTOBER 14, 2024

A study conducted by business and analytics firm S&P Global states that countries will default more frequently on their foreign currency debt. A recent Reuters report discussed the statistics provided as part of the S&P Global Rankings in detail. They show that several nations with stable financial circumstances may face the risk of defaulting on foreign debt in the coming years. “Sovereign defaults have significant implications for economic growth, inflation, exchange rates, and t

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TMC Financing

OCTOBER 14, 2024

Achieving over $120 million in Total Financing Since Expanding into the State For the second year in a row, TMC Financing has been recognized as Oregon’s No. 1 U.S. Small. The post TMC Financing Ranks as Oregon’s #1 SBA 504 Lender appeared first on TMC Financing.

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Small Businesses 52

RMAi Blog

OCTOBER 11, 2024

WEST SENECA, NY – P&B Capital Group, a third-party collection agency headquartered in Western New York, has spent a portion of Q3 in 2024 looking for organizations to support as part of its ongoing community outreach efforts. To better serve its employees and the surrounding community, P&B Capital Group has made a sizable donation to Sto Lat Strong , a Breast Cancer Research Fundraising Group.

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Third Party Collections 130

Team Financial Group

OCTOBER 14, 2024

Consumers have come to expect immediate results and instant gratification in today’s tech-driven world, which means business owners need to move products and information faster than ever. However, small businesses don’t always have resources to dedicate to the latest IT hardware, automation equipment, or staying ahead of technology obsolescence.

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Deductions Small Businesses 52

Cpcmcredit Blog

OCTOBER 14, 2024

According to the Times today, 72% of retailers across Europe are planning to expand their “physical presence” which is up from just 26% in 2022 On the face of it, this is a very surprising statistic in the face of the relentless march of Amazon but as i’ve posted here before, for man the actual shopping experience is a pleasure. And when you struggle with a heavy parcel to be returned to a surly local newsagent because the sizing or colour wasn’t quite what was expected,

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OCTOBER 14, 2024

Teva Pharmaceuticals has agreed to pay $450m to settle allegations that it violated several government acts and a raft of kickback allegations. On two serious occasions, it was alleged that Teva Pharmaceuticals breached the Anti-Kickback Statute (AKS) and the False Claims Act (FCA). The New Jersey company is the largest generic drug manufacturer in the United States and a trusted name in the pharmaceutical world.

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TMC Financing

OCTOBER 14, 2024

Achieving over $120 million in Total Financing Since Expanding into the State For the second year in a row, TMC Financing has been recognized as Oregon’s No. 1 U.S. Small. The post TMC Financing Ranks as Oregon’s #1 SBA 504 Lender for the Second Consecutive Year appeared first on TMC Financing.

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Small Businesses 52

RMAi Blog

OCTOBER 11, 2024

CINCINNATI, OH – Slovin & Associates , a collections law firm headquartered in Cincinnati, OH, is committed to making a difference not only through their legal expertise but also by supporting important causes that uplift the most vulnerable. One such cause that the Slovin team identified is helping Lighthouse Youth Services (LYS), a non-profit organization dedicated to helping underrepresented youth and families in need, particularly those dealing with homelessness or runaway situatio

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Gaviti

OCTOBER 13, 2024

If your business could proactively identify the risk of potential customers before taking them on as new customers and avoid bad debt, wouldn’t you want to do that? Predictive AI capabilities in many modern B2B collections software now let businesses do exactly this while solving many other challenges in the B2B collections process. The Challenges of Traditional B2B Collections Unlike B2C collections, B2B collections involve steps related to credit, financing and legal agreements.

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Grit

OCTOBER 13, 2024

Starting an online store can be exciting but also challenging. Choosing the right platform is important. The BigCommerce website builder offers a user-friendly way to set up your online shop without coding. Let’s explore how this platform can benefit various businesses and help you succeed online. What is BigCommerce Website Builder? BigCommerce is a platform that helps businesses create online stores.

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Due

OCTOBER 14, 2024

A RentCafe study found that 52% of millennial households – which include families and groups living together – owned homes in 2022. For the first time ever, more than half of millennials own a home. Yet, according to a survey by Apartment List , a growing number of millennials have given up on homeownership (24.7%), with 74% saying they’ll never be able to afford one.

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Credit Scoring 52

TMC Financing

OCTOBER 14, 2024

131 Arizona Small Businesses Supported, Securing $401 Million in Total Financing for Fiscal Year 2024 For the third year running, TMC Financing remains Arizona’s leading U.S. Small Business Administration (SBA). The post TMC Financing Remains Arizona’s #1 SBA 504 Commercial Real Estate Lender for the Third Consecutive Year appeared first on TMC Financing.

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Small Businesses 52

RMAi Blog

OCTOBER 11, 2024

RMAI extends its thoughts of support to all of those affected by Hurricane Milton. RMAI recommends all members temporarily suspend collection calls and communications to consumers in the portions of Florida who are directly affected by this emergency. Information on the impact of Hurricane Milton can be found on the Florida Division of Emergency Management website.

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Reorg Blog

OCTOBER 8, 2024

Today, we consider an attempted “parade of horribles” in the Venezuela/Citgo sale proceeding, another dubious disclosure approval in Incora/Wesco and Judge Goldblatt’s Pension Claims Ruling in Yellow.

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CreditStrong for Business

OCTOBER 11, 2024

Faster funding speeds and more lenient qualification standards are among the biggest perks that hard money loans have to offer. Nonetheless, there are still qualification requirements that you’ll need to satisfy as a real estate investor when you apply for financing. Most hard money lenders require a hefty down payment, experience as a real estate investor, a good personal credit score, and a certain loan-to-value ratio.

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Due

OCTOBER 14, 2024

Managing expenses and minimizing the impact of rising prices can be challenging in the summer. However, you can reduce the impact of seasonal inflation by implementing small daily habits. Using these eight daily habits, you can beat summer inflation in order to protect your savings while also enjoying the season. Related: What Causes Inflation? Everything You Need To Know. 1.

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Transactions 52

Grit

OCTOBER 11, 2024

In the fast-paced world of eCommerce, efficiency and automation are key to staying ahead of the competition. For BigCommerce users, leveraging automation can streamline operations, enhance customer experience, and ultimately boost sales. In this blog post, we’ll explore the top automate website actions that every BigCommerce store owner should know.

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Chaser

OCTOBER 10, 2024

Receivables management can pose a range of challenges for businesses. Common pain points include late payments from customers, which disrupt cash flow and often involve time-consuming follow-ups and manual, repetitive debtor management tasks which many businesses lack the time and resources to complete.

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Reorg Blog

OCTOBER 11, 2024

The post BREAKING: Red River Talc Case to Stay in SDTX; Court Rejects Motions to Transfer Venue to New Jersey, Says ‘This Case Will Be Dismissed or Confirmed’ appeared first on Reorg.

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CreditStrong for Business

OCTOBER 11, 2024

Dun & Bradstreet (D&B) is one of the major commercial credit bureaus in the United States and provides various data analytics services. That includes assigning DUNS Numbers, which serve as a unique identifier for each company in their system. Here’s everything you should know about DUNS Numbers, including how they work, the benefits they provide, and how to get one for your business.

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Due

OCTOBER 14, 2024

The Federal Reserve, the central banking system of the United States, wields a significant influence on the country’s economy. Its decisions on interest rates can ripple through everything from the stock market to the average American’s mortgage payment. Recently, renowned economist Dr. Ed Yardeni made a bold prediction: the Federal Reserve is done cutting interest rates this year.

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Gaviti

OCTOBER 10, 2024

CFOs are under constant pressure to increase efficiency in operations while at the same time cutting costs, ensuring healthy cash flow. At the same time, they must be able to gather and analyze data to quickly make the right decisions that contribute to business growth. These pressures are driving them to adopt a range of autonomous finance tools, including those in accounts receivable.

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Invoice to Cash Credit and Collections DSO Payment Portals 52

blue dot counseling

OCTOBER 9, 2024

I come to praise spreadsheets not to bury them - but you may not have the balance right. The post Spreadsheets in accounting – use fewer of them but learn how to build them better appeared first on Blue Dot Consulting.

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