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.

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Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

Fundera

OCTOBER 2, 2017

When it comes to the future of your business, filing for bankruptcy might seem like the absolute worst thing that could happen. However, filing for bankruptcy is not necessarily a death sentence—in fact, it could mean the difference between sinking or saving your business. Small Business Bankruptcy Filing Options.

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CreditStrong for Business

JULY 11, 2024

It’d be helpful if you get it, but you’re probably wondering what credit score you need to get a small business loan. In this article, we’ll cover the different types of business loans and the credit expectations for each. SBA Loans The SBA offers some of the most diverse small business loans.

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Credit Scoring Small Businesses Credit Unions Bad Debt 52

Fundera

SEPTEMBER 20, 2018

What Is Business Bankruptcy? If you’re struggling to pay off business debts, filing for business bankruptcy might help. Business owners can file for Chapter 7, Chapter 11, or Chapter 13 bankruptcy, depending on the business’s debt levels and financial situation.

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Business Bankruptcy Bankruptcy Chapter 11 Chapter 7 74

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.

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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.

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Credit Application Bad Debt Bankruptcy Credit Scoring 130

NorthOne

JUNE 27, 2023

Poor cash flow management can lead to missed opportunities, increased borrowing costs, and even bankruptcy. Automate Your Finances With NorthOne NorthOne offers cutting-edge financial automation tools like Invoice Payments, along with superior banking for small businesses.

Small Businesses 52

Small Businesses Bankruptcy Transactions 52

Fundera

OCTOBER 20, 2018

How to Find and Choose a Business Bankruptcy Lawyer in 5 Steps. Evaluate your business’s financial situation and goals. Recognize the red flags of bankruptcy mills. Source bankruptcy lawyers through referrals, bar associations, and legal directories. Compare bankruptcy lawyers by asking the right questions.

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Business Bankruptcy Bankruptcy Chapter 11 Chapter 7 59

CreditStrong for Business

OCTOBER 24, 2024

Business Loans Small business owners might qualify for some type of business loan. A business’s income is used to qualify the loan, not income from a job. Small Business Administration), a small business loan from a traditional bank, or various online lenders that offer business loans.

Bankruptcy 52

Bankruptcy Credit Scoring Credit and Collections Credit Unions 52

BitX Funding

DECEMBER 13, 2022

Many small business owners find it difficult to obtain capital to grow their businesses without credit or a poor credit history. There are still options out there for getting a small business loan with bad credit. It is more difficult than ever to do business in today’s economy.

Small Businesses 52

Small Businesses Credit Scoring Credit Unions Bankruptcy 52

Your Virtual Credit Manager

APRIL 16, 2024

Make sure you and your team understand the basics of the Uniform Commercial Code, Bankruptcy Statutes, and other regulations to avoid compliance pitfalls and missed opportunities to secure payments. Learn More About Credit Reports Please feel free to share this newsletter with your small business customers. Share Read more

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ForwardAI

JANUARY 11, 2023

They risk losing their whole business waiting on an unpaid invoice, which contributes to a quarter of bankruptcies. The post How Small-Business Owners Can Help Cork Cashflow Problems appeared first on ForwardAI. Originally published on Forbes.com.

Small Businesses 52

Small Businesses Bankruptcy Transactions 52

tillful

MAY 31, 2023

Amidst fintech lenders closing up their small business operations plus recession rumors, there’s been a bit of concern about credit crunches, and if we’re in one. A real-life example of a credit crunch What do credit crunches mean for small businesses? What does a credit crunch mean for small businesses?

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Small Businesses Credit Scoring Default Credit Unions 52

Your Virtual Credit Manager

MARCH 21, 2023

Please feel free to share this newsletter with your small business customers. This ties into all the Covid startups and the lack of bankruptcies while stimulus funds were available. Commercial bankruptcies have only started to slowly tick up the past six months after 18 months of record lows.

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

Fundera

MARCH 14, 2019

7 Steps to Eliminate Small Business Debt. That feeling is heightened when you’re dealing with business debt, and you’re facing the possibility of losing your business altogether. Before tackling business debt, you need to have a solid understanding of your current financial situation. Reduce expenses.

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Small Businesses Bankruptcy Credit and Collections Debt Collections 92

Your Virtual Credit Manager

MARCH 19, 2024

Learn More About YVCM Services Readers of Your Virtual Credit Manager can access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner accredit. More About Purchasing Credit Reports Please feel free to share this newsletter with your small business customers.

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Bulk Transfer Credit and Collections Bankruptcy Accounts Receivable (AR) 100

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. Please feel free to share this newsletter with your small business customers. economy grew at 1.1% economy grew at 1.1%

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Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

Fundera

AUGUST 25, 2017

What will become of your business once you’re no longer involved, and how will you come out on top? There are various options for a small business owner when they are ready to exit—and many reasons for that exit. For more information, the Small Business Administration also has a comprehensive guide.

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Small Businesses Bankruptcy 96

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.

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Small Businesses Credit Scoring Credit and Collections Bankruptcy 105

Fundera

OCTOBER 20, 2019

How to Manage Small Business Finances in 5 Comprehensive Steps. Choose a business bank account and separate your personal and business finances. Organize your business finances by using accounting software and hiring a professional. Understand and fulfill your business tax responsibilities.

Small Businesses 101

Small Businesses Credit Scoring Credit and Collections Default 101

CreditStrong for Business

OCTOBER 18, 2024

Intelliscore Credit Score Ranges The Intelliscore Plus credit score is designed to help lenders predict the likelihood of a business becoming delinquent on a debt or declaring bankruptcy within the next 12 months. If you have a score of 50, for instance, it means that your score is better than 49% of other businesses.

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Credit Scoring Bankruptcy Credit and Collections Small Businesses 52

Fundera

JANUARY 20, 2019

6 Small Business Growth Strategies and Indicators. Small businesses, like people, don’t necessarily grow all at once. Just as we use many measures to show a person’s growth—in height, weight, age, and accomplishments—we evaluate business growth using a variety of factors. What Is Small Business Growth?

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Small Businesses Bankruptcy 106

Your Virtual Credit Manager

JANUARY 31, 2023

Cash flow problems: The primary reason businesses declare bankruptcy is liquidity issues, so it should come at no surprise that cash flow problems are a top reason for a business paying late. they are a small business waiting to get paid on a big project) or a sign of financial distress.

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Credit and Collections Past Due Invoices Bankruptcy Order to Cash 246

Your Virtual Credit Manager

JULY 23, 2024

This is especially true in the case of small business customers, who will do everything they can to keep paying their suppliers and vendors, including tapping out their personal credit, until the bottom falls out. The experts at Your Virtual Credit Manager are currently offering 33% off our standard small business consulting rates.

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Credit and Collections Accounts Receivable (AR) Shared Service Center Small Businesses 130

Fundera

OCTOBER 23, 2017

If you find yourself struggling with small business debt, start with these steps to help eliminate what you owe and get your business back in good financial standing. Before tackling business debt, you need to have a solid understanding of your current financial situation. Assess and rework your budget.

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Small Businesses Bankruptcy Credit and Collections 92

Fundera

OCTOBER 28, 2017

Still, despite millennials being the most educated generation to date, factors like slowing asset accumulation, rising student debt, and coming of age during the Great Recession have made starting a small business a relatively rare thing for this demographic. Shrinking Net Worth and Increasing Student Loans.

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Small Businesses Bankruptcy 67

Your Virtual Credit Manager

AUGUST 22, 2023

Selling to new businesses on credit terms has always meant taking on more risk than is involved with established businesses, but recent substantial increases in inflation, interest rates, and labor costs raises the specter of a large number of business defaults for the foreseeable future. Furthermore, 86.5

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Credit and Collections Bad Debt Credit Risk Small Businesses 130

Abrigo

DECEMBER 29, 2023

From upcoming new requirements on small-business lending to watching out for deteriorating commercial real estate loans, these resources provided insight and tips to keep staff sharp. Click the header next to each number to visit the corresponding top banking risk resource. Stay up to date on CFPB 1071.

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Credit Risk Credit Unions Credit and Collections Small Businesses 88

Fundera

NOVEMBER 24, 2015

Follow our checklist’s 6 steps to maximize the potential of your small business loan application, and secure the financing your business needs to flourish. Check Your Business and Personal Credit Rating. Assemble All Relevant Business Documents. Always use a conservative business case in your planning.

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Small Businesses Credit Reporting Agencies Bankruptcy 76

CreditStrong for Business

AUGUST 16, 2024

It’s also worth pointing out that a lender can use the Intelliscore Plus to evaluate your business credit report or a combination of your personal credit report and business credit information together. Lower interest rates and better terms on small business financing might also be available with a good business credit score.

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Credit Reporting Agencies Credit Scoring Credit and Collections Bankruptcy 52

Fundera

NOVEMBER 17, 2018

Some small business owners are already financial experts: they have MBAs, experience in the private sector, and strong literacy in all things related to managing small business finances. If managing finances for a small business has you feeling completely overwhelmed, take a look at this comprehensive primer.

Small Businesses 75

Small Businesses Credit Scoring Credit and Collections Default 75

Fundera

NOVEMBER 17, 2018

Some small business owners are already financial experts: they have MBAs, experience in the private sector, and strong literacy in all things related to managing small business finances. If managing finances for a small business has you feeling completely overwhelmed, take a look at this comprehensive primer.

Small Businesses 75

Small Businesses Credit Scoring Credit and Collections Default 75

Fundera

JANUARY 20, 2019

6 Small Business Growth Strategies and Indicators. Small businesses, like people, don’t necessarily grow all at once. Just as we use many measures to show a person’s growth—in height, weight, age, and accomplishments—we evaluate business growth using a variety of factors. What Is Small Business Growth?

Small Businesses 75

Small Businesses Bankruptcy 75

Your Virtual Credit Manager

DECEMBER 27, 2022

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. A business's credit history also includes any past bankruptcies or defaults, as well as collection agency placements.

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

Fundera

AUGUST 18, 2016

Small business owners who are looking for alternative forms of financing should probably start here. Since there are now many different options in the online lending space, small business owners should know what sets Lending Club apart from the rest. What kinds of small businesses use Lending Club?

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Small Businesses Bankruptcy 75

CreditStrong for Business

AUGUST 23, 2024

Experian Experian is another credit reporting agency with a presence in both the consumer and business credit spaces. However, information from your Experian consumer report won’t cross over to your small business credit reports, nor vice versa. This business credit score ranges from 500 to 800.

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Credit Reporting Agencies Credit Scoring Credit and Collections Bankruptcy 52

Your Virtual Credit Manager

DECEMBER 26, 2023

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. For the past year, the number of commercial bankruptcies has been trending upward and is at a 4-year high. If you haven’t, you almost certainly will.

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