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 Credit Card Payments 92

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

Your Virtual Credit Manager

APRIL 11, 2023

Here’s more on Credit Checks. Poor Credit Controls: Poor credit control practices can result in providing goods or services to high-risk accounts that are likely to pay beyond terms or even default on payments. Please feel free to share this newsletter with your small business customers.

Bad Debt 130

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

CreditStrong for Business

AUGUST 15, 2024

You can get business credit with just an EIN, but it’s difficult for most companies. Lenders generally want small business owners to apply for credit accounts with a Social Security Number (SSN), not an EIN. That’s primarily because the distinction between a small business and its owner is often negligible.

Credit Scoring 52

Credit Scoring Small Businesses Credit Card Payments Credit Card Companies 52

Abrigo

MAY 11, 2021

If the borrower defaults and the institution has no legal recourse to get the funds from its other entities, should they be included in the global cash flow analysis? A common misstep seen in lending departments is the belief that a guarantor improves an applicant’s credit quality.

Credit Risk 78

Credit Risk Credit and Collections Credit Card Payments Deductions 78

Fundera

SEPTEMBER 13, 2016

On the other end of the spectrum, you have secured business credit cards. With secured business credit cards, cardholders need to put down a refundable cash deposit for collateral. With secured business credit cards, business owners have to put down a sizable amount of money as a deposit.

Credit Card Companies 103

Credit Card Companies Credit Scoring Credit Card Payments Default 103

Fundera

SEPTEMBER 13, 2016

On the other end of the spectrum, you have secured business credit cards. With secured business credit cards, cardholders need to put down a refundable cash deposit for collateral. With secured business credit cards, business owners have to put down a sizable amount of money as a deposit.

Credit Card Companies 103

Credit Card Companies Credit Scoring Credit Card Payments Default 103

tillful

NOVEMBER 8, 2022

A cash flow statement is a financial statement that shows a detailed account of how much cash has entered and left a business within a specified period of time. If the borrower defaults, the asset can be seized and sold by the lender to cover the outstanding debt. If the borrower defaults, the lender won't have any direct recourse.

Credit Reporting Agencies 52

Credit Reporting Agencies Deductions Credit Scoring Credit and Collections 52

Fundera

JUNE 5, 2018

On the surface, business credit cards and small business loans are obviously different products. That’s why your small business loan often requires collateral to secure. It’s a type of small business loan collateral that mitigates your creditor’s risk. None of those options sound good.

Credit Scoring 71

Credit Scoring Default Small Businesses Credit Card Payments 71

Fundera

JUNE 18, 2019

Different business types will have to meet different requirements to maintain PCI compliance, and there are stiff penalties for being noncompliant. There’s a lot that goes into accepting credit card payments. There’s also rules and regulations for accepting credit card payments. PCI DSS Requirements.

Credit Card Payments 40

Credit Card Payments Transactions Default Small Businesses 40

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

OCTOBER 16, 2018

If you’re on the hunt for the perfect way to upgrade your business’s checkout process, Square point of sale systems can easily catch your eye. With their sleek design and heightened capabilities, Square POS systems have become a fixture in the small business point of sale market.

Transactions 55

Transactions Credit Card Payments Default Small Businesses 55

Fundera

NOVEMBER 1, 2018

Small Business Administration. The government guarantee is designed to encourage banks and lending institutions to loan money to small business owners who might otherwise find it difficult to qualify for affordable financing. If you default on the loan, the lender will seize and sell off the collateral.

Credit Scoring 45

Credit Scoring Credit Card Payments Small Businesses Default 45

Fundera

MARCH 16, 2019

If you’re shopping for a small business loan , you might become confused by all the terminology that gets thrown your way. With factor rates, P&Ls, debt schedules, APY (annual percentage yield), real vs nominal interest rates, all your business loan requirements come with a fair share of confusion.

Credit Card Payments 68

Credit Card Payments Credit Card Companies Small Businesses Default 68

Fundera

DECEMBER 20, 2019

You can select the number of decimal places the POS system uses (two is most common) and define a default customer (guest is most common). The “Checkout” tab is where you set up checkout details like order status, payments, and emails and receipts. It also makes it easy to attach card readers, cash drawers, and receipt printers.

Dashboards 52

Dashboards Credit Card Payments Credit and Collections Default 52

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

APRIL 5, 2018

After you fill out a business credit card application and get approved, that piece of plastic has the power to build your credit, provide a flexible financial resource, and earn you rewards. It can even provide the foundation for working toward a small business loan.

Credit Scoring 49

Credit Scoring Credit and Collections Credit Card Companies Small Businesses 49

Your Virtual Credit Manager

JUNE 20, 2023

Small businesses are under a lot of pressure. It is therefore no surprise that small business owners’ top economic concerns are inflation, recession, commodity prices, the U.S. Extend small trial credit limits for almost all new customers, excluding those with very poor credit ratings.

Credit Risk 20

Credit Risk Bad Debt Credit and Collections AR Aging 20

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. How to Set Up Recurring Payments.

Credit and Collections 72

Credit and Collections Dashboards Transactions Credit Card Payments 72

Fundera

MAY 27, 2019

With their sleek design and high-tech capabilities, Square POS systems have become a fixture in the small business point of sale market. But like most small business owners, you’re probably wondering what you’ll have to pay to access a Square POS system. Let’s take a look at all three.

Transactions 55

Transactions Credit Card Payments Default Small Businesses 55

Fundera

JULY 5, 2018

You won’t be able to apply for unsecured credit cards, or be eligible for other debt financing products, without a strong credit score on your own. You want to build toward a small business loan. You’re confident you won’t carry a card balance.

Credit Scoring 55

Credit Scoring Credit Card Companies Credit Card Payments Default 55

Fundera

MAY 22, 2018

When it comes in the form of a small business loan , debt can be beneficial to keeping your business functioning and growing. But, as a small business owner, you’re likely also aware of the bad kind of debt, which can be debilitating to businesses and their individual owners.

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Bankruptcy Business Bankruptcy Chapter 11 Credit Scoring 40

Fundera

JULY 30, 2018

Why Credit Cards Loans Can Be Better Than Traditional Business Loans. When you have a small business, there are dozens of different expenses that you need to account for, including startup costs , equipment purchases, hiring and payroll responsibilities, and day-to-day costs like marketing and buying raw materials.

Credit Scoring 72

Credit Scoring Credit Card Companies Credit Card Payments Small Businesses 72

Fundera

JULY 30, 2019

Although not nearly as prevalent as paid software, there are, in fact, free point of sale software solutions available to business owners, one of which is Imonggo. However, with all of the unique POS options on the market, is the Imonggo free POS software the right solution for your business? Payment Processing.

Dashboards 40

Dashboards Transactions Credit Card Payments Small Businesses 40

Fundera

MAY 19, 2018

Small Business Association (SBA) loans are among the best ways to get funding for a bar, let alone any other kind of entrepreneurial idea you might want to pursue. Maybe you don’t need to purchase equipment, or your credit score puts an SBA loan out of reach.

Credit Scoring 49

Credit Scoring Small Businesses Credit Card Payments Transactions 49

Fundera

NOVEMBER 14, 2018

Your payment history, credit utilization, mix of credit accounts, length of your credit history, applications for new credit all affect your credit and your ability to qualify for financing in the future. Credit affects many parts of your life, both as a consumer and as a small business owner.

Credit Scoring 57

Credit Scoring Credit and Collections Default Credit Card Companies 57

Fundera

APRIL 23, 2019

Is PrestaShop the right fit for your small business? PrestaShop allows you to create your store’s website and customize it to your business. If you’re using PrestaShop open source, you can either use and customize the default template or buy and download others from PrestaShop Addons , their official add-on marketplace.

Dashboards 40

Dashboards Credit Card Payments Transactions Default 40

Fundera

SEPTEMBER 6, 2019

So in this Payoneer review we are going to try and cut through all the extraneous information and get to the heart of just what Payoneer can offer small business owners. We’ll also provide you with some alternatives to Payoneer so you can have a better idea of the payments market. Prepaid Debit Card. Payoneer: The Basics.

Credit Card Payments 40

Credit Card Payments Credit and Collections Transactions Small Businesses 40