Fundera

MARCH 28, 2018

You probably know how important your credit score is when you’re applying for a small business loan. But with all of the surprising ways you can damage your credit, that number might come as a surprise when it pops up on your application. What Your Credit Score Is, and Why It Matters: A Quick Rundown.

Small Businesses 88

Small Businesses Credit Scoring Default Credit and Collections 88

Fundera

SEPTEMBER 13, 2016

If you’re a small business owner on the hunt for business loans , you probably know the deal with traditional banks: big banks just don’t lend to small businesses. More than 80% of banks reported that they tightened their lending standards for small businesses after the recession. That’s partly true.

Small Businesses 92

Small Businesses Credit Scoring Credit and Collections Default 92

Your Virtual Credit Manager

JULY 25, 2023

Turning your inventory over faster and your payables slower will add cash to your balance sheet, as will raising capital by selling shares in your company or getting a loan or line of credit. Collection Efficiency Index (CEI) - As your collection process increases in efficiency, the fewer dollars there will be trapped in your AR.

Best Possible DSO (BPDSO) 130

Best Possible DSO (BPDSO) DSO Cash Forecasting Credit and Collections 130

Your Virtual Credit Manager

APRIL 9, 2024

In such a time of easy money, receivables management becomes less critical and credit policies tend toward laxity. Now that interest rates are higher, it is time for companies to reset their credit policies in order to adjust to the current interest rate environment. Where Are Interest Rates Headed?

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Credit Card Payments Default 130

Your Virtual Credit Manager

APRIL 11, 2023

Subscribe now Ten Reasons Accounts Receivables Under Perform Failure to Conduct Credit Checks: Sometimes newer business are so excited to get an order, they fail to check the new customer’s credit, only to end up selling to a deadbeat and not getting paid. Here’s more on Credit Checks.

Bad Debt 130

Bad Debt Credit and Collections Accounts Receivable (AR) Days Sales Outstanding 130

Fundera

MAY 31, 2017

PayPal has evolved too, with a variety of options for helping small business owners with online and offline transactions. It’s turned into a robust suite of payment solutions for small businesses and large enterprises alike. See if any of these PayPal offerings could be a good fit for your payment processing needs.

Small Businesses 67

Small Businesses Credit and Collections Transactions Credit Card Payments 67

Abrigo

JANUARY 18, 2017

SCORE , a nonprofit association that helps small businesses in partnership with the U.S. Small Business Administration, offers these examples of helpful technology, which you can share with business clients as tools to manage cash flow and develop a stronger financial position.

Days Sales Outstanding 88

Days Sales Outstanding Credit Card Payments Credit and Collections Dashboards 88

Fundera

FEBRUARY 2, 2019

PayPal Small Business Solutions. Payment Processing – Credit and debit card processing on web, mobile, and in-person. Payment Gateway – Accept payments with any merchant processor. Business Financing – Obtain loans specially designed for PayPal sellers. Photo credit: PayPal.

Small Businesses 67

Small Businesses Credit and Collections Transactions Credit Card Payments 67

Fundera

MAY 2, 2019

What Are Credit Card Processing Fees? At the most basic level, credit card processing fees are the cost that a business owner pays to accept credit card payments. Generally, the average credit card processing fees range from 1.7% What Are Credit Card Processing Fees?

Credit Card Payments 73

Credit Card Payments Transactions Credit and Collections Small Businesses 73

Fundera

FEBRUARY 25, 2019

Accounting Methods for Small Businesses. The two primary accounting methods for small business owners are cash basis and accrual basis. Any business is free to use accrual accounting. Any business is free to use accrual accounting. Generally Accepted Accounting Principles (GAAP).

Small Businesses 74

Small Businesses Credit and Collections Credit Card Payments Transactions 74

Know-It Global

APRIL 13, 2023

Late payments are crippling businesses all over the UK with 52% of businesses experiencing late payment , and 25% reporting increased instances of late payment in 2022. Accountancy software company Xero recently published a report showing the average time taken for small businesses to be paid rose by 1.4

Credit and Collections 97

Credit and Collections Days Sales Outstanding Credit Scoring DSO 97

Fundera

AUGUST 26, 2018

Business credit cards are essential financing tools for both new and established business owners alike. When you’re just beginning, they can be your main financing lifeline and how you build your business credit. Many business owners need to know how to recover from business credit card debt.

Chapter 11 65

Chapter 11 Bankruptcy Chapter 7 Credit Card Companies 65

Fundera

MARCH 26, 2018

Practically no one would call the process of getting a small business loan “simple.” You’ll have to meet a ton of different business loan requirements , which change depending on the loan product you want. And among those fluctuating factors might be a minimum credit score for loan eligibility. Your Personal Credit Score.

Credit Scoring 71

Credit Scoring Credit and Collections Small Businesses Accounts Receivable (AR) 71

CreditStrong for Business

AUGUST 16, 2024

In the business credit world, there are five main credit reporting agencies. These credit bureaus gather information about your company and resell it to others that want to predict the risk of loaning money to your company. It’s wise to understand who the business credit bureaus are and how they operate.

Credit Reporting Agencies 52

Credit Reporting Agencies Credit Scoring Credit and Collections Bankruptcy 52

Fundera

NOVEMBER 1, 2018

If you’re a small business owner trying to more effectively manage your spending, consider investing in a prepaid business debit card. Prepaid business debit card holders preload their card with however much money they want to spend, ensuring that they never go over their limit or spend more than they can afford.

Small Businesses 49

Small Businesses Credit Card Payments Credit Card Companies Credit and Collections 49

Fundera

DECEMBER 2, 2018

The 5 Best Mobile Credit Card Readers. Today 77% of Americans prefer to pay with plastic, which has helped make mobile credit card reader technology ubiquitous. In this guide we are going to explore that market to find the best mobile credit card readers for small business owners. PayAnywhere.

Credit Card Payments 49

Credit Card Payments Credit and Collections Transactions Small Businesses 49

tillful

MAY 4, 2023

Good news — if you don’t want to pay out of pocket, you may be able to use a credit card. Mike Dion, senior finance manager at Disney and founder of F9Finance says, “Paying taxes with a credit card is usually not the best bet. Can you pay federal taxes with a credit card ? Pay 1040, and payUSAtax.

Credit and Collections 52

Credit and Collections Credit Card Payments Electronic Funds Transfer Credit Scoring 52

Due

MAY 7, 2024

Financial Stress One primary concern about owing money during retirement is the challenge posed by high-interest debts, particularly credit card balances. Credit Card Debt Retirees facing credit card debt may find it challenging as they depend on a fixed income.

Credit and Collections 98

Credit and Collections Medical Billing Credit Card Payments Small Businesses 98

Fundera

FEBRUARY 24, 2017

You know Wells Fargo as the mega-bank that offers both consumer and small business services to almost 70 million customers across the United States. As a small business owner and merchant, you might have stumbled across the newer merchant services division of Wells Fargo. Now, here’s where it gets complicated.

Credit Card Payments 59

Credit Card Payments Credit and Collections Transactions Small Businesses 59

Fundera

MARCH 11, 2019

Most lenders won’t lend more than 10% to 30% of a business’s annual revenue. Your company should be cash flow positive after accounting for all debt payments. Every small business owner knows that running and growing your business takes a lot of capital. How Much Will a Lender Loan My Small Business?

Credit Scoring 75

Credit Scoring Credit and Collections Small Businesses Credit Card Payments 75

Fundera

JANUARY 7, 2019

Running your own small business comes with its own financial hurdles. You have expenses that are both expected and unexpected, as well as the inevitable credit card bill. More often than not, your business credit card ends up being your best bet to keep the ship floating. Annual Credit Card Fees.

Deductions 50

Deductions Credit and Collections Credit Card Payments Credit Card Companies 50

Due

MAY 8, 2024

We all know how convenient it is to swipe our credit cards for everyday purchases. adults had a credit card , making it the most common consumer lending product. There is, however, a complex world of fees associated with credit card processing behind the seamless experience. In fact, as of 2022, 82% of U.S.

Credit Card Payments 52

Credit Card Payments Credit and Collections Transactions Credit Card Companies 52

Abrigo

MAY 11, 2021

Takeaway 2 Institutions usually leverage global cash flow analysis if a borrower has complex credits. The coronavirus pandemic has made understanding business relationships and credit quality increasingly difficult for financial institutions. What is global cash flow?

Credit Risk 78

Credit Risk Credit and Collections Credit Card Payments Deductions 78

Fundera

APRIL 5, 2018

When you stop and think about the power of business credit cards , it’s almost bizarre to realize how much a great card can really do for you. It can even provide the foundation for working toward a small business loan. It can even provide the foundation for working toward a small business loan.

Credit Scoring 49

Credit Scoring Credit Card Companies Credit and Collections Small Businesses 49

Fundera

NOVEMBER 23, 2018

Wells Fargo Merchant Services provides small business merchant accounts and connects these merchant accounts to First Data credit card processing services. You likely know Wells Fargo as the mega-bank that offers both consumer and small business services to almost 70 million customers across the United States.

Credit Card Payments 59

Credit Card Payments Credit and Collections Transactions Small Businesses 59

Fundera

MAY 1, 2020

If you extend credit to your customers, it’s crucial for you to stay on top of your accounts receivable. Consider a cash payment or early payment discount (make sure you aren’t dipping into your profit margin if you do this) to speed up customer payments. Buy in Bulk—Even If You’re Small. Open New Sales Channels.

Credit Card Payments 84

Credit Card Payments Credit and Collections Small Businesses 84

Fundera

DECEMBER 25, 2018

Merchant services is a broad term meant to encompass a wide range of functions related to the ability to accept electronic forms of payment, such as credit and debit cards. In today’s business landscape, where a majority of customers prefer to pay with plastic, this type of service is a virtual requirement. POS Systems.

Small Businesses 40

Small Businesses Electronic Funds Transfer Credit Card Payments Credit and Collections 40

Fundera

NOVEMBER 14, 2018

How Does Credit Work? Whenever you open a credit card or apply for a loan, credit bureaus collect information about your usage. That information appears on your credit report and is used to calculate a numeric credit score. It’s not just about achieving the perfect credit score.

Credit Scoring 57

Credit Scoring Credit and Collections Default Credit Card Companies 57

Lendio

APRIL 20, 2023

Accepting credit card payment is essential for any business. Most people have at least one credit card at all times, but can the same be said for cash? The right payment processing service can give you more options for accepting payments, give you a better reputation, and drive your business forward.

Credit Card Payments 52

Credit Card Payments Credit and Collections Transactions Small Businesses 52

Fundera

AUGUST 27, 2018

Deciding to accept credit cards as a form of payment is a key step for business growth. A fter all, you likely pay for most of your own expenses with your credit card, and you should let your customers do the same. The Key Players Involved in Credit Card Processing.

Credit and Collections 57

Credit and Collections Transactions Credit Card Payments Small Businesses 57

Fundera

MARCH 5, 2019

Recurring Payments Definition. Recurring payments are payments made to your small business in accordance with a predetermined schedule that you create. These types of payments are processed electronically, typically from a customer’s credit or debit card.

Credit and Collections 72

Credit and Collections Dashboards Transactions Credit Card Payments 72

Fundera

DECEMBER 6, 2019

The primary function of an invoice is to collect payment. When sending an invoice to collect payment, it’s imperative that you confirm the information is accurate so both you and your customer have a smooth transaction. Accepted payment methods. The seller sends an invoice to collect payment.

Credit and Collections 58

Credit and Collections Credit Card Payments Transactions Small Businesses 58

Fundera

MAY 7, 2019

If you’re a small business owner looking to sell your products online, you’ve probably considered selling on eBay. As one of the first marketplace websites, individuals and business owners alike have used eBay for over 20 years to start ecommerce businesses. How to Add an Automatic Payment Method. Source: PayPal.

Credit Card Payments 84

Credit Card Payments Credit and Collections Transactions Dashboards 84

Fundera

DECEMBER 2, 2020

In the world of payment processing and merchant services , credit card processing is often at the forefront of the discussion. According to a study conducted by the Cash Product Office of the Federal Reserve System, however, debit cards are the most used form of payment—accounting for 28% of all payments. [1].

Credit Card Payments 58

Credit Card Payments Transactions Credit and Collections Small Businesses 58

Fundera

AUGUST 23, 2019

When it comes to your small business showing up in local searches, you may already know the importance of your business website and directory listings like Yelp. Something you may not know: A Google My Business listing directly affects where you appear in Google Maps and Google Search results. . It’s time to change that.

Credit and Collections 68

Credit and Collections Credit Card Payments Small Businesses 68

Fundera

JANUARY 21, 2016

If you’re a small business owner on the quest for funding, there’s a heck of a lot to keep track of in order to apply to a lender. You’ve got your personal credit score, your balance sheet, your profit and loss statement, your FICO SBSS…. You know, that small business credit score that’s all the rage these days?

Credit Scoring 59

Credit Scoring Small Businesses Credit and Collections Credit Card Payments 59

Fundera

MAY 23, 2019

In both cases, the POS system will allow your business to accept card payments and handle a variety of back-office functions. Note that a POS should not be confused with a credit card processing system. The most basic and universal in-person payment method is the reading of a credit card magstripe via swipe.

Transactions 70

Transactions Credit Card Payments Credit and Collections Small Businesses 70