Abrigo

SEPTEMBER 23, 2024

Would you like other articles like this in your inbox? Data for banks & credit unions Real-time pricing trends for loans Now that the Fed has lowerered interest rates , financial institutions will want to carefully monitor current loan interest rate trends in their markets to remain competitive as rates drop.

Credit Unions 88

Credit Unions Credit Risk Credit and Collections Small Businesses 88

Your Virtual Credit Manager

DECEMBER 26, 2023

In our case, we found our readers had an affinity for articles on identifying collection risks and the best ways of dealing with past due balances. Photo by Kelly Sikkema on Unsplash ) We are therefore providing you with an overview of three very popular articles along with links to the originals.

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Collector Credit and Collections Default Third Party Collections 130

Your Virtual Credit Manager

NOVEMBER 14, 2023

Credit Policy is an inextricable part of a company’s Sales Policy. If you choose to sell on open credit, the terms you offer are in effect part of the price. If you discuss credit terms with a competitor, you are in violation of anti-trust statutes forbidding price fixing. What’s Right for Your Firm?

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Credit Sales Bad Debt Credit and Collections Credit Risk 130

Abrigo

AUGUST 8, 2021

Independent Loan Review Systems in Banking Banking regulators have outlined expectations for effective, independent loan review and credit risk review. . Would you like other articles on loan review in your inbox? Takeaway 2 However, a loan review or credit risk review program should accomplish several key objectives.

Credit Risk 78

Credit Risk Credit Unions CECL Credit and Collections 78

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. The good news is you can avoid these issues. Did you know?

Credit Risk 52

Credit Risk Bad Debt Credit and Collections Default 52

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. The good news is you can avoid these issues. Did you know?

Credit Risk 52

Credit Risk Bad Debt Credit and Collections Default 52

Your Virtual Credit Manager

JANUARY 2, 2024

Contacting customers to pay past due amounts (collecting) is an essential element of accounts receivable (AR) management. For most firms, late customer payments are a frequent occurrence and collecting them can be a difficult task. Collections also has to be done effectively with minimal alienation of customers.

Bad Debt 130

Bad Debt Credit and Collections Accounts Receivable (AR) Credit Management 130

Your Virtual Credit Manager

MARCH 12, 2024

As a result, trade credit, where businesses extend financing to customers, is undergoing rapid advancements, but it also poses high risks, especially in assessing creditworthiness, dealing with economic fluctuations, and fraud. Are there past due accounts you are trying to collect? it just might help them pay you sooner!

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AR Transformation Credit and Collections Accounts Receivable (AR) Order to Cash 100

Abrigo

APRIL 22, 2024

Recent dynamics of the small business lending market A deep understanding of the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Credit Unions 97

Credit Unions Small Businesses Credit and Collections Credit Risk 97

Your Virtual Credit Manager

JANUARY 23, 2024

Approving a customer for credit terms is merely the first step in an open credit relationship. Economic circumstances may cause you to tighten your credit policies and customer credit limits. The remainder of the review will mirror an initial credit evaluation (here’s more information on Evaluating Credit ).

Credit Application 130

Credit Application Bad Debt Bankruptcy Credit Scoring 130

Abrigo

MAY 22, 2024

Recent stats and dynamics of the small business lending market Understanding the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Credit Unions 78

Credit Unions Small Businesses Credit and Collections Credit Risk 78

Your Virtual Credit Manager

DECEMBER 5, 2023

This misguided search for a singular understanding applies to many things, including collecting Accounts Receivable (AR). Optimal Collection results are achieved by utilizing different collection techniques with different types of customers. How do you determine which customer types merit which collection protocols?

Credit and Collections 130

Credit and Collections Third Party Collections Accounts Receivable (AR) Credit Risk 130

Your Virtual Credit Manager

DECEMBER 27, 2022

For example, there are firms burning through their cash reserves that may still be considered worthy of credit on their next order, but not the order that comes in three months from now. A customer can be paying you with no problems, but then their bank line of credit comes up for review and is drastically cut back by the bank.

Credit Scoring 130

Credit Scoring Credit and Collections Accounts Receivable (AR) Credit Application 130

Your Virtual Credit Manager

JULY 18, 2023

Photo by Campaign Creators on Unsplash Commerce between companies is facilitated by a trade credit relationship. When a supplier or vendor grants open credit terms to their business customers, both parties benefit. It’s important to keep in mind Pareto’s theorem when you are approving credit.

Credit and Collections 130

Credit and Collections Credit Scoring Credit Management Credit Application 130

Abrigo

AUGUST 29, 2022

E-signature capabilities benefit both customers and staff Banks and credit unions that leverage electronic signature capabilities reap the benefits of a more efficient lending process. Would you like other articles like this in your inbox? Takeaway 1 Optimize the signature collection process. Lending & Credit Risk.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections 78

Your Virtual Credit Manager

JULY 2, 2024

Moreover, if you are trying to collect from a small business, you may have to deal with the owner, who will have a lot on their plate in addition to their debt to your company. New to collections? You should attend Introduction to Business/Commercial Collections on Tuesday, July 16 at 1:30 PM EDT. annualy, forever.

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Collector Debt Collections Past Due Invoices Credit and Collections 130

CreditStrong for Business

AUGUST 30, 2024

Certain NAICS codes carry a level of risk that tells potential lenders a lot about your business. In this article, we’ll go over what constitutes a low-risk and high-risk industry and why it matters to your lender. What Are Some Low-Risk NAICS Codes? Some industries have less risk associated with them than others.

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Credit Scoring Credit and Collections Insurance Companies Credit Risk 52

Your Virtual Credit Manager

AUGUST 22, 2023

The bad news is that nearly 21 percent of last year’s startups will fail this year leaving you with a bad debt on your books if you sold to them on credit terms. This is why age is an extremely important consideration when extending credit. been in business less than two or three years) should be classified as high risk.

Credit and Collections 130

Credit and Collections Bad Debt Credit Risk Small Businesses 130

Know-It Global

JULY 5, 2023

Maintaining a healthy cashflow through credit control is crucial for the long-term success and sustainability of any enterprise, especially against the backdrop of soaring insolvencies and record instances of late payment. One effective strategy for achieving this goal is to implement a robust credit control system.

Bad Debt 52

Bad Debt Credit and Collections Debt Collections Credit Risk 52

Your Virtual Credit Manager

JANUARY 3, 2023

Photo by DESIGNECOLOGIST on Unsplash Editor’s Note: To start off the New Year, we’re bringing back three of the most popular YVCM articles from 2023. We’ve condensed the articles to save you time, but have also provided links to the originals should you want to take a deeper dive. Update your customer master file.

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AR Automation Collector Credit and Collections Bad Debt 130

Abrigo

SEPTEMBER 25, 2024

Would you like other articles like this in your inbox? Understanding the role of E-Tran in SBA lending is the first step for banks and credit unions to ensure smooth loan processing. Credit unions only make 2.4%. But both banks and credit unions have substantially increased their lending activity through 7(a) since 2020.

Credit Unions 88

Credit Unions Credit Risk Credit and Collections Small Businesses 88

Your Virtual Credit Manager

AUGUST 11, 2024

In addition to a comprehensive and pro-active collection regimen, the first line of defense for credit grantors involves regular monitoring of their AR portfolio for customers exhibiting red flag behaviors. Your Virtual Credit Manager has already covered this topic from several different perspective.

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Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

Know-It Global

AUGUST 7, 2023

QuickBooks users will now be able to download the Know-it app directly from its App Store and connect their accounts package to the credit management platform. In addition to seamlessly integrating with QuickBooks, Know-it provides customers with real-time credit tracking and data intelligence.”

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Credit and Collections Credit Risk Credit Management 52

Know-It Global

JUNE 22, 2023

ONE OF Scotland’s fastest growing fintechs, Know-It, has unveiled a new service in its cloud-based credit management platform designed to revolutionise the accounting industry. Credit management is essential for accountants, as it allows them to manage their clients’ financials more effectively. How to schedule a Demo?

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Credit Management Credit and Collections Bankruptcy Credit Risk 52

Your Virtual Credit Manager

DECEMBER 6, 2022

If your sales are consummated via payment at the point of sale, which may involve “pay with order” or “pay on delivery” protocols involving a credit card or an online e-payment product, managing Accounts Receivable (AR) will not be big issue for you. it just might help them pay you sooner!

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DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

SEPTEMBER 19, 2023

Starting in October, free subscribers will only receive the introductory section of our weekly articles. Plus, you will get full access to our growing archive of over 100 articles! Now that you understand that your customer has become a liability, it’s time to review their credit worthiness again so you can make informed choices.

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Credit and Collections Default Bad Debt Credit Risk 130

Serrala

SEPTEMBER 7, 2023

Read more Bild Collections & Disputes Automate and optimize collections processes and improve customer engagement. Reduce DSO and optimize working capital with the most comprehensive collections software. Read more Bild Collections & Disputes Automate and optimize collections processes and improve customer engagement.

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Credit and Collections DSO Order to Cash Cash Applicator 98

Know-It Global

JULY 27, 2023

Now, QuickBooks users will be able to get the Know-it app directly from the QuickBooks App Store and seamlessly connect their accounts package to the cloud-based credit management platform. In addition to seamlessly integrating with QuickBooks, Know-it provides customers with real-time credit tracking and data intelligence.

Credit and Collections 52

Credit and Collections Credit Risk Credit Management 52

Know-It Global

JUNE 14, 2023

Offering trade credit can bring a huge boost to your business! One effective strategy that accomplishes both goals is offering trade credit. This is an arrangement where businesses extend credit to their customers, allowing them to purchase goods or services and pay at a later date.

Credit and Collections 52

Credit and Collections Bad Debt Credit Risk Default 52

tillful

JANUARY 9, 2023

You’re probably aware that good business credit comes with perks, but it might be less clear as to why. Well, it all comes down to credit risk. Your business credit score is an indicator that banks and other financial institutions use to gauge the risk associated with lending to your small business.

Credit Scoring 52

Credit Scoring Credit and Collections Credit Risk Default 52

Know-It Global

DECEMBER 20, 2023

A record-breaking year for signups, over £25 million in late payments collected in platform, key hires made, awesome product updates and even a trip down under all squeezed into 1 year. Chris also works with Darcey Quigley & Co our in-app Collect-it partner! This allows users to automate the entire credit control process with ease.

Credit and Collections 105

Credit and Collections Debt Collections Credit Management Credit Risk 105

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. The good news is you can avoid these issues. Did you know?

Bad Debt 52

Bad Debt Credit and Collections Credit Risk Default 52

Abrigo

JULY 20, 2021

Would you like others articles like this in your inbox? In a recent survey of more than 250 bankers representing banks and credit unions, 61% of respondents said their financial institution plans to maintain or increase SBA lending this year and beyond. Looking to Increase Loans through the SBA? 1 and Sept.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

JULY 20, 2021

Want other articles like this on SBA loan origination in your inbox? In a recent survey of more than 250 bankers representing banks and credit unions, 61% of respondents said their financial institution plans to maintain or increase SBA loan origination this year and beyond. Looking to Increase SBA Loan Origination? 1 and Sept.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

NOVEMBER 17, 2023

How to close more loans by speeding up lending and credit analysis Seeking a quicker loan origination workflow is worth it. You might also like this on-demand webinar on the red flags of emerging CRE risk. At many banks and credit unions, the way lenders and underwriters have handled loans is basically unchanged from decades ago.

Credit Unions 88

Credit Unions CECL Credit Risk Credit and Collections 88

Know-It Global

JUNE 28, 2023

In today’s fast-paced and interconnected world, credit control has become a vital aspect of financial management for businesses. Traditionally, credit management involved manual processes and relied heavily on human intervention, which often proved time-consuming and prone to errors. Check out this short demo to see how-it works!

Credit Scoring 52

Credit Scoring Credit and Collections Bad Debt Credit Management 52

Know-It Global

JULY 26, 2023

In this article, we’ll outline 15 actionable steps that can help you significantly reduce debtor days and optimise your cashflow! Evaluate and improve your credit terms Begin by assessing your current credit terms and ensure they are reasonable and aligned with industry standards. Struggling for time?

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Electronic Funds Transfer Credit and Collections Debt Collections Bad Debt 98