Fundera
MARCH 7, 2020
10 Best Invoicing Software Solutions. FreshBooks : Best overall invoice software. Wave : Best free invoicing software. Invoice Ninja : Best open-source invoicing software. Due : Best invoice software for low-fee payment processing. Invoice2Go : Best mobile invoicing software. Bill.com : Best invoice software for automated bookkeeping. Zoho Invoice : Best invoicing software for scalability.
Abrigo
MARCH 31, 2020
Key Takeaways The Small Business Administration (SBA) and Treasury Department released information on how lenders can become eligible to originate Paycheck Protection Program loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Starting April 3, small businesses and sole proprietors can begin applying for the CARES Act’s PPP loans.
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Pactola
MARCH 23, 2020
We are hosting a free Webinar on Credit Management in the COVID-19 Virus. We will hold this on Thursday, March 26, 2020 at 10:30 CDT, 9:30 MDT. Our goal is to provide some ideas as you reach out to your borrowers in this challenging time. To attend, go at [link] The dial in number is 863-208-0120 and the attendee pin is 243 7669#. The COVID-19 virus situation has created a huge challenge for us, but this has also presented an opportunity we would not see in normal times for true leadership in ou
GoCardless
MARCH 10, 2020
A run down of the evening, the winners, and the last 12 months that got us here.
Fundera
MARCH 5, 2020
As a small business owner, you may not always have the resources available to hire a fully staffed HR department, especially when you’re just starting out. Luckily, if you’re looking for a way to streamline some of your HR processes, you can invest in an automated payroll service that will help you (or your team) manage essential payroll tasks—from setting up direct deposit to preparing your taxes. .
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Fundera
MARCH 23, 2020
Small businesses are dealing with unprecedented struggles in the wake of the coronavirus outbreak. Never before have so many small businesses had to deal with a sudden cash crunch of this scale at the same time. This is no ordinary downturn in the market, after all. . Many businesses, due to a loss in revenue from government restrictions or loss of foot traffic, will have a hard time making payments to the various suppliers, vendors, credit card companies, and lenders that help keep their ventur
Abrigo
MARCH 27, 2020
Key Takeaways Three out of four bankers expect a recession will last at least two quarters Economic uncertainty has shifted questions regarding estimating the allowance for credit losses under CECL Managing troubled loans and liquidity top bankers' list of concerns. Although it’s still early, bankers have started to make their own assumptions about the impact the coronavirus pandemic will have on the economy and their institutions.
Abrigo
MARCH 26, 2020
Key Takeaways The Fed will temporarily suspend exams for banks with less than $100 billion in assets. Banks over $100 billion in assets will have some exam activity deferred. The Fed extended time for existing remediation responses by 90 days. The Federal Reserve (Fed) announced on March 24 that they will temporarily suspend examinations for banks with less than $100 billion in assets so all can concentrate on the coronavirus pandemic, to “help financial institutions of all sizes understand the
Abrigo
MARCH 25, 2020
Key Takeaways Financial institutions have an opportunity to participate in a huge expansion of SBA lending programs under a stimulus package expected to be voted on by the Senate. The new loan program would lift certain requirements for borrowers, such as those related to personal guarantees and collateral. Maximum amounts for SBA Express Loans would increase to $1 million.
Abrigo
MARCH 20, 2020
Key Takeaways For the first time in more than a decade, bankers may be dealing with large numbers of TDRs due to the coronavirus crisis. The FDIC recently reiterated that financial institutions should determine whether loans affected by COVID-19 should be reported as TDRs. A decision by FASB on TDRs and coronavirus modifications will be critical for lenders, given the implications for calculating the allowance for credit losses, or the allowance for loan and lease losses.
Abrigo
MARCH 13, 2020
Key Takeaways In today's uncertain economic climate, community financial institutions must resolve to manage risk and drive growth. Gather documents more efficiently and consistently Prevent entering the same data multiple times or in multiple places Accelerate loan turnaround times Price loans profitably Manage customer relationships effectively. The coronavirus has sent shockwaves through the markets around the globe.
Abrigo
MARCH 4, 2020
With more and more states approving the sale of cannabis, either marijuana or hemp, the risks involved with banking this industry has remained at the forefront of compliance officers’ minds. Providing traditional banking services to any higher risk businesses carries risks that your financial institution may not be ready to tackle. Banking cannabis-related businesses (CRBs) will increase your institution’s risk profile, and you can expect an increase in visits from your regulators.
Abrigo
MARCH 4, 2020
With more and more states approving the sale of cannabis, either marijuana or hemp, the risks involved with banking this industry has remained at the forefront of compliance officers' minds. Providing traditional banking services to any higher risk businesses carries risks that must be considered when deciding whether or not to bank-specific customers.
Fundera
MARCH 28, 2020
We are currently living through unprecedented times as the spread of COVID-19 affects individuals and businesses across the globe. While most businesses, with the exception of essential industries, have shifted to working from home , it’s more important than ever to have an office cleaning checklist to keep employees who do have to go into work safe and healthy.
Fundera
MARCH 17, 2020
How you accept payments is crucial to the way your business operates and makes money—which makes choosing a payment processor an important decision. Luckily, with the growth of the merchant services industry, there are now more providers than ever for small businesses, whether you’re looking to accept in-person payments, online payments, or a combination of both.
Fundera
MARCH 16, 2020
The coronavirus pandemic has sent U.S. small business confidence into a tailspin, as government restrictions force some main street businesses to close or operate in limited hours, while foot traffic for many has dropped to near zero. . The federal government has promised help in the form of business loans through the Small Business Administration’s loan programs , but details on how those programs will receive funding are still in development. .
Fundera
MARCH 29, 2020
It’s a good rule of thumb for every business to have some form of business insurance , no matter their industry or size. For some businesses though, especially those that work with other businesses or clients, they’ll need to provide proof of their coverage, known as a certificate of insurance (COI). . If you’re giving clients advice, working on their property, or even just providing them with a specific technology, they’ll want to know that you’re covered for any potential liabilities arising o
Fundera
MARCH 24, 2020
Many Americans from all walks of life are looking for guidance and help in the wake of the coronavirus outbreak. Small business owners in particular, whose entire lives and livelihoods have likely been upended due to the pandemic, need economic and logistical help during this time. . That’s because one in three small businesses don’t have a rainy day fund to help deal with emergency expenses , according to the U.S.
Fundera
MARCH 2, 2020
Adjusting Entries for Accounting Purposes. Adjusting entries are made at the end of the accounting period to make your financial statements more accurately reflect your income and expenses, usually—but not always—on an accrual basis. This can be at the end of the month or the end of the year. Adjusting entries usually fall into one of four categories: accruals, deferrals, depreciation and amortizations, and estimates.
Fundera
MARCH 2, 2020
For the first time in history, five generations work alongside one another. That raises an interesting question. In work environments where members of the Silent Generation (born between 1928 and 1945) regularly brush shoulders with members of Generation Z (born between 1997 and 2012), there are bound to be significant generational differences—and even clashes—in the workplace, right?
Fundera
MARCH 25, 2020
Congress has hammered out the details of the third and largest coronavirus pandemic response bill to date. The $2 trillion coronavirus aid bill, (also known as HR 748/the “CARES” Act) provides economic support for a wide swath of Americans, small businesses, hospitals, and some struggling sectors of the economy. . The impact of the novel coronavirus on small businesses has been devastating, as many businesses have been forced to close or restrict their hours, and are unable to make e
Abrigo
MARCH 25, 2020
Key Takeaways Banking regulators say short-term, COVID-19-related loan modifications shouldn't automatically be categorized as TDRs. FASB affirmed this guidance for borrowers who were current prior to relief. The guidance makes it more palatable for institutions seeking to help borrowers affected by the coronavirus crisis. Regulators also announced other guidance tied to reporting and risk-based capital rules.
Abrigo
MARCH 24, 2020
Key Takeaways We can learn about potential fraud from previous cases such as Italy. Fraudsters capitalized on vulnerabilities from shifts in daily life due to coronavirus. Organizations must learn from the lessons learned in Italy to protect themselves from cybercrime. . Around the world, public health officials are analyzing the coronavirus (COVID-19) transmission in countries with earlier outbreaks in an effort to model scenarios, refine preparations, and identify mismanagement and best practi
Fundera
MARCH 9, 2020
What Is the Best Payroll Software for Small Business? Gusto offers the fullest packages for your small business payroll software—at the most reasonable price. QuickBooks Payroll is the best fit for business owners who use QuickBooks accounting software. Patriot Payroll is the best low-cost payroll software for small businesses. Payroll4Free is the best free payroll software.
Fundera
MARCH 31, 2020
The coronavirus outbreak has halted life as we know it, and rendered millions of businesses around the country inoperable and unprofitable. It has sent small business owners scrambling to review their insurance policies, to see if business interruption insurance will cover coronavirus-related losses. . Business interruption insurance or coverage, also known as business income insurance, is typically part of a larger business insurance package that includes property and liability coverage.
Fundera
MARCH 19, 2020
When you’re a small business owner, managing your team can be critical to your success, especially when it comes to behind-the-scenes processes like payroll, onboarding, recruiting, and more. This being said, however, as important (and often complicated) as these operations are, they’re all the more complex when you’re juggling different software platforms and trying to implement multiple processes across these systems.
Fundera
MARCH 30, 2020
Oftentimes, entrepreneurs will start their own business after working in the industry for years, gaining experience and a network of contacts and potential clients to help launch their new venture. That wasn’t the case for Suits & Sandals. . This creative agency was started on the campus of SUNY Purchase by two friends with a few web design classes under their belt and a ton of ambition.
Fundera
MARCH 23, 2020
There are a lot of different steps that you have to follow when starting a business. While some of these steps are optional or can be put off until after you’re up and running, others are necessary before you can open your doors. . If you’re starting a retail business , you’ll need a retail business license to operate legally. Without it, you could face fines or penalties, depending on your state and local laws. .
Fundera
MARCH 23, 2020
Poynt Smart Terminal. Poynt’s flagship product, the Poynt Smart Terminal, is a credit card terminal with a lot of flexibility. It boasts a touch-screen and user-facing display, receipt printer, and the ability to accept magstripe, chip card, NFC, and QR code payments. There’s also a set of apps that can give your credit card terminal POS functionality.
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