Fundera

FEBRUARY 6, 2018

Running a business involves a constant learning curve. And that applies whether you’re a rookie entrepreneur just starting out with a great idea for a new business or a more established small business owner with a quickly growing business that needs to expand. Accounting Terms to Know. Accounts Receivable.

Small Businesses 105

Small Businesses Credit Scoring Credit and Collections Bankruptcy 105

Your Virtual Credit Manager

JANUARY 23, 2024

Furthermore, new businesses and small businesses tend to have high failure rates, and there is good reason to believe a wave of defaults is coming. Among other things, commercial bankruptcies have been steadily climbing over the past year. Please feel free to share this newsletter with your small business customers.

Credit Application 130

Credit Application Bad Debt Bankruptcy Credit Scoring 130

Your Virtual Credit Manager

AUGUST 11, 2024

Commercial bankruptcies have been surging since mid-2022. Chapter 11 filings, used by businesses hoping to reorganize, have increased by 34 percent in the first six months of 2024 compared to last year. Department of Justice expects a sharp increase in bankruptcies with the U.S. And the future is bleak — the U.S.

Sub-Chapter V 100

Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

Your Virtual Credit Manager

OCTOBER 15, 2024

Photo by Melinda Gimpel on Unsplash ) The American Bankruptcy Institute recently reported that, “The 6,067 total commercial chapter 11 bankruptcies filed during the first nine months of 2024 represented a 36 percent increase over the 4,561 filed during the same period in 2023.” Trustee Program. Share Read more

Chapter 11 100

Chapter 11 Bad Debt Bankruptcy Chapter 7 100

Your Virtual Credit Manager

MARCH 21, 2023

The point is: receivables are an investment that needs to be managed with regard to the inherent risks associated with AR. Failure to deal with those risks is not investing, or managing, but rather simply gambling. Please feel free to share this newsletter with your small business customers.

Accounts Receivable (AR) 130

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

Your Virtual Credit Manager

AUGUST 20, 2024

Here are some factors AR managers should anticipate: Interest rates may ease somewhat, but the days of easy money are over for the foreseeable future — working capital management is extremely important now Commercial bankruptcy filings are expected to continue rising (the U.S. it just might help them collect faster and pay you sooner.

Credit Management 130

Credit Management Credit and Collections Accounts Receivable (AR) Bankruptcy 130

Your Virtual Credit Manager

DECEMBER 27, 2022

Adding to the credit grantor’s challenge, that line is constantly changing. Please share this newsletter with your small business customers. Share Determining Creditworthiness For these reasons, creditworthiness is a fundamental consideration when granting credit to a business customer.

Credit Scoring 130

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

Your Virtual Credit Manager

MAY 2, 2023

Growth is down, interest rates continue rising, small businesses are facing a credit crunch, commercial bankruptcies are skyrocketing and experts see an emerging threat: Washington Post: U.S. A critical part of this exercise involves identifying active and new customers posing high, or even just marginal, credit risks.

Bankruptcy 100

Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

Your Virtual Credit Manager

OCTOBER 8, 2024

Older debts are often more difficult to recover because the debtor’s financial situation may worsen over time, or the business may close, become insolvent, or declare bankruptcy. In cases of bankruptcy or liquidation, the likelihood of repayment drops dramatically, as creditors may only receive partial payments or nothing at all.

Third Party Collections 100

Third Party Collections Credit and Collections Bankruptcy Bad Debt 100

Your Virtual Credit Manager

APRIL 2, 2024

For instance, bankruptcy within the next two years is more easily defined than the more nebulous state of financial distress. Despite these shortcomings, commercial credit scores can be valuable tools for a company offering trade credit to other businesses. it just might help them pay you sooner.

Credit Scoring 130

Credit Scoring Credit and Collections Bad Debt Credit Risk 130

Your Virtual Credit Manager

FEBRUARY 28, 2023

While bankruptcy filings have not increased substantially in the past year, they have begun to tick up and it is widely anticipated that filing will continue to increase as pandemic relief is finally spent, revenues decrease due to a faltering economy, and costs increase due to inflation and rising interest rates.

Bad Debt 130

Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Fundera

MARCH 6, 2019

Running a business involves a constant learning curve. And that applies whether you’re a rookie entrepreneur just starting out with a great idea for a new business or a more established small business owner with a quickly growing business that needs to expand. Business Finance Terms and Definitions to Know.

Credit Scoring 105

Credit Scoring Credit and Collections Bankruptcy Small Businesses 105

Your Virtual Credit Manager

JUNE 13, 2023

Without open terms, business cash flows would be restricted, with the lost liquidity acting as a break on the velocity of commerce. Photo by Jamie Street on Unsplash There are two types of credit risk that arise from selling on open credit terms: Customers paying beyond terms (past due) reduce your cash flow.

Credit and Collections 26

Credit and Collections Bad Debt Default Credit Risk 26

Your Virtual Credit Manager

DECEMBER 6, 2022

Under-performing AR has the potential to create a cash flow crisis that can shut down your business in very short order. Cash Flow is the number one cause of small business bankruptcies. Please feel free to share this newsletter with your small business customers. it just might help them pay you sooner!

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

SEPTEMBER 19, 2023

Commercial bankruptcies have been trending upward for most of this year, so it is likely some of your customers are in a downward spiral, if it has not yet shown up in their payment pattern. Recognizing that a customer is in distress putting your receivables at risk is the first step in ameliorating the situation.

Credit and Collections 130

Credit and Collections Default Bad Debt Credit Risk 130

Your Virtual Credit Manager

DECEMBER 26, 2023

Subscribe now Learn to Recognize These Red Flags There are two types of credit risk affiliated with selling on open credit terms. If you have more than a few customers or you have been in business several years, chances are you have dealt with customers who pay late, have defaulted or are at risk of default.

Collector 130

Collector Credit and Collections Default Third Party Collections 130

CommandCredit

SEPTEMBER 6, 2021

Extending credit to customers is not only common, but necessary for most companies. However, every time you extend credit to a customer, you are taking a risk. A big part of your job, whether you are a small business owner or an executive at a large enterprise, is managing risk — especially preventable ones.

Credit Risk 40

Credit Risk Credit Reporting Agencies Bankruptcy Small Businesses 40

tillful

FEBRUARY 28, 2023

Have you heard about the FICO Small Business Scoring Service (SBSS)? Like most business credit scores, the SBSS helps lenders and service providers understand the level of credit risk that businesses present. small business credit applicants. What is an SBSS score?

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Bankruptcy 98

Your Virtual Credit Manager

APRIL 30, 2024

In addition, extended terms increase your exposure to customer bankruptcies and the resulting non-payment. If a customer has 60 day payment terms, and pays 30 days late, you will have three months of sales dollars at risk versus one if the customer had 30 day payment terms. it just might help them collect faster and pay you sooner.

Credit and Collections 100

Credit and Collections Accounts Receivable (AR) Credit Risk Bankruptcy 100

Fundera

JULY 20, 2018

Why You Should Know How to Check the Business Credit Scores of Other Companies. According to credit bureau Experian, as of 2015 upwards of $8 billion is lost or stolen from small businesses yearly due to fraud. As a small business, you depend on your customer’s ability to pay their bills.

Credit Scoring 73

Credit Scoring Bankruptcy Credit and Collections Credit Reporting Agencies 73

Fundera

JULY 12, 2016

While there’s some debate in American politics over whether or not “corporations are people,” it is true that businesses have credit scores and can receive credit reports the same way individuals do. A short list of factors affecting your score also includes: Credit utilization ratio. Length of credit history.

Credit Scoring 75

Credit Scoring Credit and Collections Bankruptcy Credit Card Companies 75

Your Virtual Credit Manager

MAY 16, 2023

Often, small orders are better handled on cash in advance terms or via a credit card transaction rather than the granting of open credit terms. Please feel free to share this newsletter with your small business customers. Small businesses are less risky customers than large businesses.

Bad Debt 100

Bad Debt Credit and Collections Default Small Businesses 100

Fundera

DECEMBER 27, 2018

If you’re a small business owner, you have two credit scores. There’s your personal credit score, and then there is your business credit score. A business credit score is a reflection of the creditworthiness of your business. Your Payment Index score is your typical credit score.

Credit Scoring 55

Credit Scoring Bankruptcy Credit Risk Credit Unions 55

CreditStrong for Business

AUGUST 16, 2024

Plus, if you ever experience problems with one of your business credit reports (i.e. identity theft, credit errors, etc.), knowing which business credit bureau to contact might help you resolve the issue faster. Below is an overview of the five primary business credit bureaus.

Credit Reporting Agencies 52

Credit Reporting Agencies Credit Scoring Credit and Collections Bankruptcy 52

Fundera

SEPTEMBER 1, 2017

While there’s some debate in American politics over whether or not “corporations are people,” it is true that businesses have credit scores and can receive credit reports the same way individuals do. A short list of factors affecting your score also includes: Credit utilization ratio. Length of credit history.

Credit Scoring 70

Credit Scoring Credit and Collections Bankruptcy Credit Card Companies 70

CreditStrong for Business

OCTOBER 24, 2024

Variable requirements might include a minimum credit score or monthly income, some deposit or asset for securing the loan (collateral), a specified debt-to-income ratio, and others. Business Loans Small business owners might qualify for some type of business loan.

Bankruptcy 52

Bankruptcy Credit Scoring Credit and Collections Credit Unions 52

CreditStrong for Business

AUGUST 23, 2024

Report users can purchase business credit scores from Equifax too, such as: Business Delinquency Score Business Delinquency Financial Score Business Credit Risk Score Early Default Score And More Different business scoring models have different numerical ranges.

Credit Reporting Agencies 52

Credit Reporting Agencies Credit Scoring Credit and Collections Bankruptcy 52

MNS Credit Management Group

AUGUST 7, 2023

According to the US Small Business Administration, your company will require a credit score of around 75 to qualify for a small business loan. Credit scores can also affect a company’s ability to sign a lease or purchase products on credit from suppliers. “

Credit Scoring 52

Credit Scoring Credit Risk Credit and Collections Bad Debt 52

tillful

JANUARY 11, 2023

Why Does a Good Business Credit Score Matter? Without a good credit score, small businesses are more likely to be denied financing, provided lesser amounts than requested, and/or face more burdensome lending terms, such as higher interest rates and shorter payback periods. Paid: $99.95

Credit Scoring 52

Credit Scoring Credit and Collections Bankruptcy Credit Risk 52

tillful

JANUARY 9, 2023

Or why SBA loans, the crème de la crème of small business loans, require so much documentation? 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. What is Credit Risk? Borrower Reputation.

Credit Scoring 52

Credit Scoring Credit and Collections Credit Risk Default 52

tillful

JANUARY 11, 2023

Like your personal credit, it should be something you prioritize, monitor regularly , and leverage to help ensure the best possible financial performance and opportunities for your small business. That will tell you which bureaus you have documented credit history with. Main Factors in the Equifax Business Credit Report.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit and Collections Small Businesses 52

Fundera

JUNE 15, 2018

Even before you began your search for small business 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.

Credit Scoring 71

Credit Scoring Credit and Collections Default Credit Risk 71

Know-It Global

JUNE 24, 2024

Before you work with a new client, do you run a credit check on them? We found that 78% of SMEs don’t credit check before bringing on a new client! We understand, especially as a small business, that time is precious, but the importance of checking new customers shouldn’t be overlooked.

Credit Scoring 40

Credit Scoring Bankruptcy Credit Risk Small Businesses 40

tillful

JUNE 14, 2023

as a consumer credit reporting company, but it also collects information on millions of businesses and provides business credit reporting services. Tillful x Experian Partnership The Experian business credit score is now in the app and Tillful dashboard! What is a good Experian business credit score ?

Credit Scoring 52

Credit Scoring Credit and Collections Bankruptcy Credit Reporting Agencies 52

CommandCredit

OCTOBER 11, 2021

In addition to the business credit score , you can also get: Financial stability risk ratings Banking, trade, and collection history Liens, judgments, and bankruptcies Credit limit recommendations. Equifax Business Credit Risk Score. A score of 556 is generally considered good credit.

Credit Scoring 40

Credit Scoring Credit and Collections Bankruptcy Credit Reporting Agencies 40

Due

MAY 28, 2023

The news is full of doom and gloom about the bank crisis and a potential recession, causing many consumers and business owners to fear the future. A bank crisis does, in fact, have impacts on the economy and can particularly affect entrepreneurs and small business owners. Banks, by nature, face numerous risks.

Bankruptcy 53

Bankruptcy Credit and Collections Business Bankruptcy Small Businesses 53

Eagle Business Credit

JULY 13, 2023

As a small business factoring company, we encourage potential clients to send us their invoices and share how they tackle the invoicing process. Because a fresh set of eyes can shine a light on the gaps in your business. Where are the gaps in your small business performance? Are you removed enough to see them?

Bankruptcy 40

Bankruptcy Credit Management Credit Risk Small Businesses 40