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We often talk about the importance of having an efficient and effective collection process and how, from a process improvement perspective, collections automation provides substantial benefits. We don’t, however, want to minimize the importance of the credit side of the equation. Do you need help improving cash flow?
The availability of dependable cash flow can have a big impact on the success of a smallbusiness. Yet a 2021 report from the Federal Reserve shows that, when businesses applied for financing, nearly 60% of applicants were either outright denied or able to borrow only a portion of the money they needed. . Time in Business Min.
Historically, business failures increase after a recession. After, the Great Recession of 2008, commercial bankruptcies peaked in 2009 and did not drop below pre-recession levels until 2012. Please feel free to share this newsletter with your smallbusiness customers. For more on credit evaluations, check out this post.
The approximately $1 trillion in payroll taxes (employment taxes) collected by the Internal Revenue Service (IRS) in 2016 was nearly triple that of the $345 billion collected in business income taxes. Fact #2: Most employers are smallbusinesses, and most employees work for smallbusinesses.
In this guide, we’ll share our recommendations on the four best PEOs for smallbusiness owners, along with some guidance about how to determine which PEO services makes the most sense for your particular business. . The 4 Top PEO Companies for SmallBusiness. What to Look for in a Top PEO Company.
Any enterprise extending credit to another business needs to have real treasury expertise. The role of credit should not be focused on preventing bad debt losses, but rather maximizing profits. Please feel free to share this newsletter with your smallbusiness customers. Learn More About Credit Reports 5.
Smallbusiness owners in particular might be interested in knowing how daylight saving time affects the bottom line, and whether they’d be better off with or without it. Smallbusiness owners don’t sleep anyway, so that extra hour in November doesn’t mean much. How can smallbusinesses take advantage of the change?
Even before you began your search for smallbusiness loans , you’ve more than likely heard of a credit score. You’ve also more than likely heard of a good credit score, too. Here’s the gist of it: Your credit score is a numerical indication of how responsibly you’ve handled your financial obligations.
Amazon seems to have a hand in every business out there—books, electronics, entertainment, food, apparel, furniture… The list goes on and on. And in 2012, Amazon added yet another service to their list: smallbusiness loans through the Amazon Lending program. And a lot of those sellers are smallbusinesses.
Credit scores have become a huge part of our lives. There’s no question a good credit score is crucial for so many varying parts of our lives, but the questions stands—what is a good credit score? What is the score you need to get the best credit card, mortgage, business loan , auto loan, etc., Good: 670-739.
According to the Minority Business Development Agency (MBDA), the number of U.S. minority business enterprises more than doubled between 2002 and 2012, totaling around 8 million. But starting and running a business can sometimes seem particularly challenging if you’re a minority business owner.
Thanks to something called “EMV technology,” you’ve likely received new credit and debit cards in the mail sporting simple silver squares. Along with the futuristic look they add to any blasé black-striped credit card (nice!), And that credit card compliance law, too—also known as EMV compliance law.
Whether you’re collecting contact information from customers or storing payment and banking data for billing purposes, it’s highly likely that your business will at some point collect sensitive personal and banking data from your clients. For several months in 2012, however, this wasn’t the case.
Since then, they’ve become one of the most reputable online lending platforms, and a go-to source for business owners seeking revolving lines of credit. On the other hand, SnapCap , which is owned by Lending Tree, was founded in 2012. Line of credit. – One year in business. – 500 personal credit score.
Two such examples are Toast POS, which launched in 2012, and Square for Restaurants, which debuted in 2018. Other hardware available for purchase through Toast includes user-facing kiosks, a customer-facing display, kitchen display systems, receipt printers, barcode scanners, cash drawers, scales, and credit card readers.
Fundera’s quarterly report, The State of Online SmallBusiness Lending, lets us put all the data we have covering smallbusiness eligibility and borrowing trends to good use. This quarter, we decided to take a closer look at an incredibly important topic: women in the world of smallbusiness.
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