Abrigo

MAY 30, 2023

Takeaway 2 Reporting tiers and their deadlines are based on the number of covered transactions to small businesses that a lender originated in 2022 and 2023. Despite the seemingly long runway to prepare, it's not too early to get a handle on the new requirements and how they will affect a bank or credit union.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

TreviPay

MARCH 20, 2023

You can use Dun & Bradstreet and/or Experian to check credit reports and determine many businesses’ payment history. You can also call a businesses’ references and creditors directly or view their financial statements as part of the credit application.

B2B Credit 52

B2B Credit Credit Management Credit and Collections Days Sales Outstanding 52

tillful

JANUARY 11, 2023

From the amount of credit that suppliers will extend you to your ability to secure loans in general (as well as the interest rates you will pay on said loans), your business credit score can have a big impact on your financing efforts. Why is your business credit score a deciding factor for so many different financial transactions?

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit and Collections Small Businesses 52

Fundera

MAY 31, 2020

If you have a more complicated transaction—say with an international party—you may need a surefire way to make sure you get the money you’re due. One of the best and most common methods, in this case, is a letter of credit. Types of Letters of Credit. The Applicant. Some are simple, like cash, checks, or wire transfers.

Transactions 49

Transactions Small Businesses Credit Scoring Credit Application 49

Fundera

JUNE 13, 2017

When you start doing business with a vendor, typically they will require payment at the time of service or upon delivery of goods unless you submit a credit application for deferred payment terms. Lots of vendors offer the option of automatically paying your bills via credit card or electronic check when they come due.

Deductions 63

Deductions Small Businesses Credit Application Transactions 63

Fundera

JULY 6, 2016

So, how about those credit scores? Better Credit = Lower Rates. Like we saw above, there’s a definite relationship between credit score and APR. He might have been paying a 65% APR on $20,000, with payments getting taken out of his daily credit card transactions. Limit your credit applications.

Credit Scoring 74

Credit Scoring Credit and Collections Bankruptcy Small Businesses 74

Fundera

DECEMBER 18, 2017

With all that said, no matter what their shape or size, the fact that all short-term loans come with short repayment terms definitely has its repercussions. Your lender will intercept a daily percentage of your business’s credit card revenues before they even reach your business’s accounts. Credit score. Voided business check.

Credit Scoring 63

Credit Scoring Small Businesses Invoice Amount Deductions 63