Your Virtual Credit Manager

MARCH 28, 2023

Using objective criteria, it is relatively easy to determine which companies are worthy of open credit terms and which are not. There is a challenge, however, with the 20 to 30 percent of credit decisions that fall in between. The question you need to answer is: should credit policy be liberal or conservative?

Credit Scoring 130

Credit Scoring Credit Application Bad Debt Credit Risk 130

Lendio

JANUARY 11, 2023

A hard inquiry takes place when you apply for financing—like a loan or a credit card—and a lender reviews your credit report during the application process. Hard inquiries have the potential to damage your credit score. The subject of credit inquiries—especially hard credit inquiries—causes many misunderstandings.

Credit Reporting Agencies 98

Credit Reporting Agencies Credit Scoring Credit Application Small Businesses 98

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. What is an SBSS score? small business credit applicants.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Bankruptcy 98

Lendio

JANUARY 25, 2023

Running a small business comes with many challenges and responsibilities. Yet one of your most important duties as a small business owner is managing your company’s finances. According to the Score Foundation , powered by the U.S. Read on for 11 tips to help you manage your small business finances.

Small Businesses 52

Small Businesses Credit Scoring Deductions Credit Application 52

Fundera

DECEMBER 16, 2016

If you’ve applied for a small business loan , taken out a mortgage, or signed up for a business credit card , then you’ve heard the pesky term “credit check” before. A credit check—or credit inquiry—helps lenders and financial entities decide whether they’ll lend money to you or your business.

Credit Scoring 70

Credit Scoring Credit Application Small Businesses 70

Your Virtual Credit Manager

JANUARY 9, 2024

Using credit scores, how is risk distributed among each segment? Are the assigned credit limits appropriate for each segment? The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. What do you need help doing?

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Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Processing Delays There are several AR activities that often take longer than they should and therefore cause delays: processing credit applications, approving orders, generating invoices, and posting payments. Please feel free to share this newsletter with your small business customers.

Credit and Collections 130

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

Fundera

DECEMBER 17, 2018

However, they’ll only actually impact your FICO score for one year, and the ding to your score will be minimal—typically within 1-5 points. Your credit history and the circumstances of each pull will affect how your score is affected. With that in mind, how long do hard credit inquiries stay on your credit report?

Credit Scoring 71

Credit Scoring Credit Application Small Businesses 71

Fundera

MAY 25, 2017

We all know that one of the biggest challenges small business owners face is access to capital. Access to sufficient capital in business is the lifeline that can keep an entrepreneur afloat. Fortunately, some changes coming down the pipeline could positively affect millions of Americans’ credit scores.

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Credit Scoring Credit and Collections Collector Credit Application 74

Your Virtual Credit Manager

JULY 18, 2023

often will provide a substantial amount of payment and other financial information, enable you to establish a credit account for a customer, and be confident that they will pay reasonably well. Bureau Credit Scores can also provide a level of confidence, within predetermined parameters, for approving small dollar orders.

Credit and Collections 130

Credit and Collections Credit Scoring Credit Management Credit Application 130

Lendio

DECEMBER 13, 2022

Every small business owner looking for financing should understand the fundamental differences between a business line of credit and a term business loan. At the same time, these funding solutions serve very different business needs. Minimum credit score: 680 or higher. Repayment Structure.

Small Businesses 52

Small Businesses Credit Scoring Transactions Credit Application 52

Fundera

APRIL 6, 2016

Did you know that you have more than one FICO score? It’s true: FICO releases multiple versions of its scoring. This is especially true when you’re first starting out, if you haven’t established business credit , or if you’re trying to get financing without collateral. What’s a FICO Score, Anyway?

Third Party Collections 68

Third Party Collections Credit Scoring Credit and Collections Credit Application 68

CreditStrong for Business

OCTOBER 18, 2024

PayNet® is a business credit reporting agency that maintains a database of more than 25 million small business contracts — small business loan accounts, business leases, and business lines of credit. In 2019, the company was acquired by a major business credit bureau (Equifax).

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Default Credit Risk 52

CreditStrong for Business

OCTOBER 11, 2024

The SBFE abbreviation stands for the Small Business Financial Exchange. The organization was established in 2001, and it describes itself as a small business lending trade association. As a small business owner, it’s important to understand how the SBFE could impact you when you need to apply for new business financing.

Credit Reporting Agencies 52

Credit Reporting Agencies Credit Scoring Credit and Collections Small Businesses 52

Fundera

NOVEMBER 15, 2016

It’s safe to say that when small business owners apply for a line of credit, they’re not doing it for the chance to fill out forms—they’re interested in acquiring some work capital. They’ll take a holistic review of every part of the business, from the owner’s credit score to the company’s social media presence.

Credit Scoring 71

Credit Scoring Dashboards Deductions Credit Application 71

Fundera

JANUARY 25, 2018

Many lenders require a minimum time in business for any eligible borrower to even apply for funding from them, much less qualify for it. Your Guide to New Business Loan Requirements. That said, a few types of small business loans are far more accessible to new businesses than others. Voided business check.

Credit Scoring 66

Credit Scoring Small Businesses Invoice Amount Credit Application 66

CreditStrong for Business

SEPTEMBER 6, 2024

Personal and business credit scores both impact your ability to qualify for a business loan. Here’s everything you need to know about how to get a business loan with bad credit, including a step-by-step guide to the process and the best types of financing to target.

Credit Scoring 52

Credit Scoring Default Small Businesses Credit Unions 52

CreditStrong for Business

OCTOBER 4, 2024

Securing financing for your company may be one of your most important concerns as a small business owner. There are actions you can take to improve your business’s odds of qualifying for financing. Establishing good business credit can be a wise place to start. A credit line hybrid is one such example.

Credit Scoring 52

Credit Scoring Credit Unions Credit Card Companies Small Businesses 52

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 Third Party Collections 100

Fundera

NOVEMBER 15, 2016

It’s safe to say that when small business owners apply for a line of credit, they’re not doing it for the chance to fill out forms—they’re interested in acquiring some work capital. They’ll take a holistic review of every part of the business, from the owner’s credit score to the company’s social media presence.

Credit Scoring 64

Credit Scoring Dashboards Deductions Credit Application 64

Fundera

DECEMBER 18, 2017

No matter how affordable or convenient longer-term loans are, they’re of no help to your small business if you can’t qualify for them. That’s the general idea of how merchant cash advances work, but let’s take a look at the logistics of what this type of short-term loan can offer your business: The Terms. Voided business check.

Credit Scoring 63

Credit Scoring Small Businesses Invoice Amount Deductions 63

The Red Spectrum

APRIL 11, 2023

One way for new businesses to build their credit history and obtain a business credit score from credit reporting agencies is by opening net 30 vendor accounts that have lenient approval criteria and offer credit purchases with a 30-day payment window. Burstbiz 2. The Red Spectrum 3.

Credit Reporting Agencies 52

Credit Reporting Agencies Credit Scoring Credit and Collections Credit Application 52

Fundera

MAY 26, 2018

Every small business experiences financial upswings and downturns. Payroll Loans for Small Business: Your 3 Best Options. These three small business loans are ideal payroll loans for two specific reasons: they’re fast, and they’re flexible. Credit score: 550+. 600 credit score.

Credit Scoring 52

Credit Scoring Small Businesses Credit Application 52

CreditStrong for Business

JULY 1, 2024

As a result, finding creative ways to qualify for financing is often one of the most significant challenges for young startups and small businesses. Credit card stacking is an innovative approach you can substitute for a business line of credit. Unfortunately, it can be frustratingly difficult to obtain.

Credit Scoring 52

Credit Scoring Credit Card Companies Credit Application Small Businesses 52

Gaviti

JULY 11, 2024

Credit monitoring and management. Automate the credit application process by allowing credit application submissions online to both existing and potential customers.

DSO 52

DSO AR Automation Credit and Collections Bad Debt 52

Fundera

FEBRUARY 8, 2019

That means your credit score, revenue, cash in the bank, and outstanding debts for starters. The good news is that you don’t need a perfect credit score or even profitability to be able to secure a liquor store loan. Business credit score. Time in business. Annual or monthly revenue.

Credit Scoring 40

Credit Scoring Small Businesses Credit Application Default 40

tillful

MARCH 15, 2023

When you apply for a business loan , the lender is going to consider a variety of factors including your credit score, annual revenue, time in business, and industry risk. With self-employment, again, the ability to repay a loan will hinge on the success of the business. Learn more about business credit.

Credit and Collections 52

Credit and Collections Credit Scoring Credit Reporting Agencies Credit Card Payments 52

Fundera

MAY 31, 2020

When you’re a small business owner, there are a variety of ways to get paid by your customers and vendors. A letter of credit is a more complicated financial transaction than those you might be more accustomed to, but it might be the best course of action for your business at some point. How Does a Letter of Credit Work?

Transactions 49

Transactions Small Businesses Credit Scoring Credit Application 49

Biz2X

APRIL 13, 2023

In the banking and alternative small business lending industries, getting new loans closed and on the books is the first step to growing a profitable loan portfolio. Portfolio monitoring occurs after the loan documents have been tucked away and the borrowers have resumed their businesses as usual.

Credit Unions 52

Credit Unions Default Credit Risk Credit Scoring 52

Eagle Business Credit

OCTOBER 18, 2022

As a small business owner, things like financing and credit scores are on your mind. Every business needs a steady source of financing and strong cash flow. Business owners with bad business or personal credit also need to finance their business.

Small Businesses 52

Small Businesses Credit Scoring Credit Application 52

CreditStrong for Business

NOVEMBER 8, 2024

Trade references have the potential to help your business qualify for financing and establish good business credit scores. You’ll also find a behind-the-scenes look at how to get trade references as a new or existing business. business credit card, ACH, cash, etc.)

Credit Scoring 40

Credit Scoring Credit Reporting Agencies Credit Application Credit Risk 40

Your Virtual Credit Manager

MARCH 26, 2024

Going beyond the impact of macroeconomic trends, a company’s customers operate in dynamic business environments, and for a majority of them, the credit risk they pose is either increasing or decreasing. New and small businesses, moreover, have high failure rates. it just might help them pay you sooner.

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Bankruptcy Bad Debt Credit Scoring Chapter 11 130