Your Virtual Credit Manager

DECEMBER 31, 2024

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

Collector 130

Collector Credit and Collections Bad Debt High-Risk Accounts 130

Fundera

MARCH 8, 2016

Louis have joined together to release the Small Business Credit Survey in February. Nearly 3,500 businesses with fewer than 500 employees were surveyed! With over half of all credit applications heading towards small banks, they clearly have an immense influence on lending in the United States.

Small Businesses 76

Small Businesses Credit Unions Credit Application 76

Lendio

OCTOBER 26, 2023

5,000 small businesses have received over $300 million from the ERC with Lendio LEHI, Utah—Oct. It is still available retroactively for both 2020 and 2021, for businesses who meet specific criteria, which is listed below.

Credit Application 52

Credit Application Small Businesses 52

Your Virtual Credit Manager

OCTOBER 18, 2022

These factors will determine: How much credit bureau information you purchase The amount of financial disclosure required of the applicant The scope of your background investigation Please feel free to share this newsletter with your small business customers. it just might help them pay you sooner!

Sales Tax Exemptions 130

Sales Tax Exemptions Credit and Collections Online Credit Application Credit Application 130

Trade Credit & Liquidity Management

MARCH 27, 2025

The 2025 Report on Employer Firms is an extensive compilation of findings from the 2024 Small Business Credit Survey (SBCS), which offers valuable insights into the financial circumstances and operational issues faced by small businesses across the United States.

Small Businesses 52

Small Businesses Credit Application 52

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

Eastern Credit Management Services

NOVEMBER 13, 2019

As a small business owner, I am sure that you understand the importance of managing your cash flow, but are you doing your best when it comes to managing your overdue accounts receivable ? Unfortunately, many small business owners are not. All small businesses want to reduce their risk of overdue accounts receivable.

Bad Debt 52

Bad Debt Small Businesses Credit Reporting Agencies Credit Application 52

Your Virtual Credit Manager

FEBRUARY 13, 2024

Following the sharp but short Covid Recession, roughly 5 million small businesses closed shop in the first six months after the economic shutdown, but commercial bankruptcies did not begin increasing until May of 2023, ostensibly due to the government’s economic stimulus programs. it just might help them pay you sooner!

Bankruptcy 130

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

Your Virtual Credit Manager

MARCH 28, 2023

The question you need to answer is: should credit policy be liberal or conservative? Credit Applications and Credit Reports The primary sources of information for you credit evaluation will be found in the customer’s credit application and a credit bureau report.

Credit Scoring 130

Credit Scoring Credit Application Bad Debt Credit Risk 130

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. Small Business Administration (SBA), 82% of failed small businesses go under due to cash flow problems.

Small Businesses 52

Small Businesses Credit Scoring Deductions Credit Application 52

Your Virtual Credit Manager

APRIL 16, 2024

Ensuring Successful Debt Collections Even with these headwinds, there are steps trade creditors can take to improve their collections game: Be Proactive: It starts with a comprehensive credit application and vetting process and is complemented with clear communications about terms, the billing process, and the expectation of on-time payments.

Accounts Receivable (AR) 130

Accounts Receivable (AR) Debt Collections Credit and Collections Collector 130

Your Virtual Credit Manager

FEBRUARY 6, 2024

As a small business owner or executive, managing accounts receivable (AR) and navigating through various credit decisions is an integral part of the job. After all, credit and collections is essential to the performance of your order-to-cash (O2C) process and cash conversion cycle. it just might help them pay you sooner!

Credit and Collections 130

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

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. The solution is the implementation of credit and collection best practices geared to ensure customer profitability and sufficient cash flow.

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

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. Learn More About Credit Reports Please share this newsletter with your small business customers.

Credit and Collections 130

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

Your Virtual Credit Manager

JANUARY 16, 2024

The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. We are currently offering 33 percent off our standard small business consulting rates. Who to contact should be information requested on your credit application.

Debt Collections 130

Debt Collections Collector Credit and Collections Bad Debt 130

Lendio

JANUARY 11, 2023

However, if a hard inquiry does affect your credit score, any damage is typically minimal. Below are some common examples of hard credit inquiries. Loan applications. Credit card applications. Applications for lines of credit. Applications for credit limit increases. The Bottom Line.

Credit Reporting Agencies 98

Credit Reporting Agencies Credit Scoring Credit Application Small Businesses 98

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. When to Consider a Business Line of Credit.

Small Businesses 52

Small Businesses Credit Scoring Transactions Credit Application 52

Your Virtual Credit Manager

SEPTEMBER 17, 2024

For small business executives, and many mid-sized businesses as well, managing collections effectively can be a significant challenge, particularly when time and resources are limited. Over time, this erodes profitability and financial stability, making it harder to keep the business running smoothly.

Credit and Collections 100

Credit and Collections Accounts Receivable (AR) Bad Debt Credit Risk 100

Your Virtual Credit Manager

JANUARY 9, 2024

The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. We are currently offering 33 percent off our standard small business consulting rates. Please feel free to share this newsletter with your small business customers.

Credit and Collections 130

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

Fundera

JULY 22, 2020

BIPOC Receive Less Business Financing, Less Often, and at Higher Rates : According to the Federal Reserve, 80.2% of white business owners receive at least a percentage of the funding they request from a bank, compared to 66.4% of BIPOC (Black, indigenous, or person of color) business owners. for Asian business owners, 32.1%

Credit Scoring 131

Credit Scoring Credit and Collections Small Businesses Credit Application 131

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

Your Virtual Credit Manager

NOVEMBER 29, 2022

Please feel free to share this newsletter with your small business customers. Your credit application should include all this information. A recent credit bureau report is also helpful in this regard. A personal guaranty as part of the credit application or as a separate document is also valuable.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Default Collector 130

Your Virtual Credit Manager

JUNE 18, 2024

Small businesses in general have a short life span. That means 20% of those smaller firms still in business at year 5 will fail before year 10, and of those that make it that far, 10% more will fail before reaching their 20 year anniversary. The challenge with businesses that employ less than five people is even more acute.

Bad Debt 100

Bad Debt Credit and Collections Credit Risk Credit Card Companies 100

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

Fundera

NOVEMBER 9, 2016

In the past, the underwriting stage of applying for a small business loan was a long, drawn-out, and nerve-wracking process. Traditional banks take weeks to review an application, and the Small Business Administration’s wait time to make a decision is measured in months.

Small Businesses 82

Small Businesses Credit Application Transactions 82

Your Virtual Credit Manager

JANUARY 3, 2023

For the same reason, AR clutter can reduce the collateral value of your AR portfolio by causing current accounts to be excluded from the funding equation on an asset-backed loan or line of credit. Please share this newsletter with your small business customers. it just might help them pay you sooner!

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Abrigo

MAY 5, 2017

Interest rates may be important to small business borrowers, but when it comes to how satisfied they are with recent borrowing experiences, it’s not all about the money. Imagine you are a business borrower looking for a loan,” he said.

Credit Unions 60

Credit Unions Credit Application Small Businesses Transactions 60

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. Please feel free to share this newsletter with your small business customers. D&B, Experian, Equifax, CreditSafe, etc.)

Credit and Collections 130

Credit and Collections Credit Scoring Credit Management Credit Application 130

Abrigo

MAY 30, 2023

Timelines for small business loan data collection and reporting Deadlines for complying with the new CFPB section 1071 rule requirements for financial institutions to collect data on small business loan activities. You might also like this one-page summary of key dates and deadlines for complying with the 1071 rule.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

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.

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

Your Virtual Credit Manager

AUGUST 8, 2023

For more on credit agreements and the new customer credit application process, check out this post. Please feel free to share this newsletter with your small business customers. Figure Out the Problem Your first objective involves understanding why the customer hasn’t paid.

Credit and Collections 100

Credit and Collections Third Party Collections Bad Debt Credit Management 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. That wraps up the BlueVine line of credit application, underwriting. and funding process.

Credit Scoring 71

Credit Scoring Dashboards Deductions Credit Application 71

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

Biz2X

FEBRUARY 27, 2024

Reading Time: 3 minutes In March 2023, the Consumer Financial Protection Bureau (CFPB) released its latest rule implementing Section 1071 of the Dodd-Frank Act, marking a significant development in small business lending regulation.  How Does CFPB 1071 Affect Small Banks and What are the Possible Solutions?

Credit and Collections 52

Credit and Collections Credit Unions Small Businesses Credit Application 52

Fundera

NOVEMBER 9, 2016

In the past, the underwriting stage of applying for a small business loan was a long, drawn-out, and nerve-wracking process. Traditional banks take weeks to review an application, and the Small Business Administration’s wait time to make a decision is measured in months.

Small Businesses 63

Small Businesses Credit Application Transactions 63

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

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