Fundera
OCTOBER 6, 2015
The Internet is one giant soup pot of information, where everything is all just swirled together. This can make it extremely difficult to pick out the valuable news from the inane chatter or sales pitches. As a small business owner, you don’t have time to sift through tons of websites, Twitter feeds, Facebook groups, and blogs to find out what you need to know.
Abrigo
OCTOBER 22, 2015
Banks and credit unions rely on their borrowers for updated information, which they in turn use to make accurate credit decisions. Financial statements, tax returns, collateral appraisals, rent rolls, loan agreements, economic data, credit reports, images, etc. all factor into credit decisions, making document and data management a big deal for bankers.
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GoCardless
OCTOBER 26, 2015
Do you find yourself out of pocket because your customers don't pay you on time? You're not alone – this is a problem that affects over half of Britain’s small businesses.
Fundera
OCTOBER 12, 2015
Whether you’re seeking a merchant cash advance, a business line of credit or an SBA guaranteed loan to provide financing for your small business, there are more financing options to choose from than ever before. There’s now a plethora of online loan companies catering to small business owners’ need for speedy funding. Offering less paperwork, faster approval times and quicker funding than traditional small business loans , these online loan companies help take the hassle out of finding business
Fundera
OCTOBER 14, 2015
A few quotes about success may be all you need to get motivated, take the initiative, and start down the path to reaching your small business goals. Remember this: many people before you have tried and failed. While some give up after a setback, others continue forward. They realize that hard work and dedication will pay off in the long run. When you read a quote from somebody famous, somebody with a lot of money, it is easy to toss aside what he or she is saying.
Fundera
OCTOBER 8, 2015
Your QuickBooks Soulmate is Out There. . Since launching your business, you’ve been keeping track of your accounting with a spreadsheet (yay you!) and business is booming. (Who doesn’t like laundry detergent with glitter in it?). Got this one here. . But things are starting to really take off – you’re not just selling this stuff to your 14-year-old sister and her friends now.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Fundera
OCTOBER 22, 2015
Throughout the course of a small business’s life, there will almost always come a moment when the owner is plagued with answering a very, very difficult question: “Should I get a small business loan?”. This question can come about for a number of reasons, whether the business owner has hit a cash crunch, needs capital to pursue a specific business opportunity, they’re looking to expand, etc.
Fundera
OCTOBER 30, 2015
At Fundera, there are many reasons we have the utmost respect for small business owners. Whether it’s the extra hours worked to get the job done, their ability to wear just about any “hat,” or the fact that they are America’s job creators—the list goes on. But the number one reason we love small business owners, and choose to support them every day through our own business, is their passion.
Fundera
OCTOBER 27, 2015
In recent weeks, health practitioners all over the country have been carefully—and anxiously— watching to see how small, private medical practices will bear the massive weight of a federally mandated medical code overhaul. The new medical classification system, ICD-10 , was implemented on October 1st, and increased the number of diagnostic and procedure codes eightfold from 17,000 to 140,000.
Fundera
OCTOBER 21, 2015
Opening and running a restaurant is New York is like a race against time, money, and location. Time because you’re serving busy, hungry city dwellers, money because it costs a hefty sum to operate any New York City business, and location because who knows when the city will decide to install a scaffold above your building and hide your establishment from hungry passersby.
Fundera
OCTOBER 16, 2015
If you’re a small business owner trying to secure a small business loan , the good news is you have more options available to you than ever before. In fact, sometimes you might feel as if you have so many choices, it’s hard to determine the best source of financing. In this article, I’ll try to help out by taking a closer look at two very popular alternative financing sources, Kabbage and OnDeck, and when it comes to Kabbage vs.
Fundera
OCTOBER 9, 2015
Working capital is the lifeblood of a business. Without it, invoices languish, inventory goes undelivered, employees go unpaid, and business stagnates. Keeping your working capital out of the red is critical to success. For small businesses, though, just one supersized order can upset the delicate working capital balance, and often business owners are forced to leave money on the table.
Fundera
OCTOBER 23, 2015
To show customers you really care, you don’t need to dole out unreasonable discounts or charter a thank you cruise. Instead, zero in on creating an unmistakably great product, service, or experience that hits the exact mark for your target audience. Then fire up your creative side and add in a personal flair for low-cost ways to make customers smile in the moment—and stay happy in the long run.
Fundera
OCTOBER 30, 2015
The Blue Coffee Pot: Presented by Small Business Revolution from The Small Business Revolution on Vimeo. Great small business owners treasure first-hand knowledge of their community’s needs. But few value community quite like JoDonna Hall Ward. JoDonna grew up in Navajo Country in the small town of Kayenta, Arizona. After her mother’s passing, JoDonna moved back home to keep alive her mother’s legacy: three small businesses in the heart of town, including a gas station, a laundromat, and a
Fundera
OCTOBER 28, 2015
For a lot of retail and restaurant businesses, the holidays can be the busiest time of the year. But for other small businesses, the holiday season can herald in one of the most difficult times of the year. Many shut down production completely, and even close their doors during the peak of the December holidays. While this may conserve some cash, wages still need to be paid and fixed costs need to be taken care of.
Fundera
OCTOBER 29, 2015
Researching options to finance your business can feel like entering a foreign country. There are terms you don’t know, concepts you’ve never heard of, and you’re being asked to provide documents and make decisions based on information you don’t totally understand. The options are seemingly endless, and there are so many pros and cons to each. How do you know which way to turn?
Fundera
OCTOBER 7, 2015
It takes money to make money. You’ve heard this old adage hundreds, if not thousands, of times over your life. From your dad. Your mentor. Every business blog you’ve read, ever. It’s just something people say, right? But if you’ve been in business for any amount of time, you’ve probably realized by now that people say this over and over because it’s true.
Fundera
OCTOBER 15, 2015
CORN MAZE CRAZE from Rich Addicks on Vimeo. We’re celebrating the arrival of fall with a trip to the farm, where one family’s corn maze and pumpkin patch help make this season a prosperous one! These days, life as an independent farmer isn’t always easy. Farmers like Stan Vaught have had to get creative in the face of unpredictable weather and regulations that increasingly favor larger farms.
Fundera
OCTOBER 26, 2015
DBAs are great for separating the business owner from the business. If an entrepreneur is planning on doing business using a name other than his or her own personal legal name, then he or she will probably need a DBA. Most states require DBAs, in fact, prior to conducting any business under a name other than the business name or a personal name. First of All, What Are DBAs?
Fundera
OCTOBER 19, 2015
Reading the word ratio might be giving you horrific flashbacks to 8 th grade math class. Especially when it comes to a term like fixed charge coverage ratio or FCCR. What on earth is it? Why does it matter? Why do most scary terms have even scarier acronyms? Let’s start at the beginning. As you started building you business, you set out to be as successful as possible and realize profit as soon as possible.
Abrigo
OCTOBER 30, 2015
With the recession fading into the more distant past, banks – in particular, community banks – have seen several years of loan growth. Banks, according to Comptroller of the Currency Thomas Curry, are starting to reach for additional growth by lending to less creditworthy borrowers, a move that increases risk to the institution. Speaking last week to the Exchequer Club , Curry said, “It’s the point in the cycle where we customarily see an easing of loan underwriting standards , as banks drop or
Abrigo
OCTOBER 28, 2015
A significant amount of planning is typically involved before most major events. For example, D-day, the most comprehensive invasion to ever take place, was planned and scheduled with extreme detail months before its execution on June 6, 1944. Likewise, accountants each year experience a tax season that requires detailed planning and precise execution.
Abrigo
OCTOBER 23, 2015
Some financial institutions consider stress testing the loan portfolio as one more regulatory issue to address, but that view is short-sighted, according to John P. Behringer, McGladrey’s national leader for credit risk services. Portfolio stress tests can provide a number of benefits beyond compliance with regulatory expectations, Behringer said recently at the 2015 Risk Management Summit hosted by Sageworks.
Abrigo
OCTOBER 21, 2015
The Federal Reserve announced it will hold a special information session later this month for accountants, consultants, auditors and others to learn more about the FASB’s forthcoming current expected credit loss model , or CECL. Steve Merriett, the Fed’s Chief Accountant, will lead the webinar discussion on Oct. 30 from 1 p.m. to 2:30 p.m. ET, the Fed said in an email notice.
Abrigo
OCTOBER 21, 2015
Every year, accountants brace themselves for the inevitable tax season. For many accountants, unfortunately, tax season means that lucrative consulting work that can diversify revenue and bolster firm growth throughout the year gets put on hold in order to handle the mountains of personal and business tax returns. However, tax season provides the opportunity for accountants to sit down with the majority, if not all, of their clients.
Abrigo
OCTOBER 20, 2015
By Rachel Flaskey, CPA/ABV/CFF/CGMA Building a strong business foundation begins with the owners. Having a formal written document to detail ownership transition plans is a best practice that should be utilized by business owners, regardless of when the business transition will be happening. Download a free infographic to learn key considerations in how valuation professionals, accountants and business owners should approach buy-sell agreements.
Abrigo
OCTOBER 16, 2015
Banks and credit unions are in the business of measuring and managing credit risk. At a recent Sageworks event, we discussed a specific case study regarding components of risk rating for a particular business loan to see how the institutions in the audience would have handled a particular scenario. Situation : Steve’s Soups, a local catering company, has a 7-year loan with the institution, now in its 4th year.
Abrigo
OCTOBER 13, 2015
For banks and credit unions, the term “borrower” can often take on many meanings – especially in complex situations where the “borrower” can have multiple owners, businesses, real estate entities and/or farms. When combining personal financial information, the analysis can get even more complex. To more objectively calculate a global risk assessment of the borrower, institutions often perform a global cash flow analysis.
Abrigo
OCTOBER 6, 2015
As the fall ramps up, many accounting firms will see a steady stream of new faces in their halls. Recent college graduates have already or soon will find their new homes in cubicles, wide-eyed and eager to learn the ins and outs from their firm’s senior staff. While a company mentor may school them on watercooler speak or the do’s and don’ts of assimilating to office culture, many rookie team members will also need a hand to learn the intricacies of their day-to-day work.
Abrigo
OCTOBER 5, 2015
For banks and credit unions, a popular tool to monitor credit risk is a standardized risk rating system, which can serve several purposes. These systems often determine credit approval processes, covenants placed on the borrower and how loans should be priced. They can also form the basis for broader risk management practices – for instance, setting the reserve, stress testing the loan portfolio , setting risk appetites and strategic planning.
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