Fundera
SEPTEMBER 5, 2019
If you own a business—or are thinking about starting one—you’re in excellent company: there are 28.8 million small businesses in the United States, according to the U.S. Small Business Administration , and they have 56.8 million employees. Small businesses (defined as businesses with fewer than 500 employees) account for 99.7% of all business in the U.S.
Abrigo
SEPTEMBER 19, 2019
Optimism hit a five-year high in 2017 among c-level executives at financial institutions, but this year, optimism took a sharp dip amidst concerns over decelerated loan growth, an uncertain economy, and higher interest rates, according to survey results by Cornerstone Advisors. Competition for deposits is high, but financial institutions are becoming savvier in finding ways to break through these banking slumps.
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GoCardless
SEPTEMBER 23, 2019
Cloud-based solutions abound in the digital age, with many of us using online software to manage our emails, our banking or our photo storage. So why not move your business’ accounting and bookkeeping needs to the cloud too?
Eastern Credit Management Services
SEPTEMBER 19, 2019
If you work in an Accounts Receivable department odds are you’ve heard just about every line in the book from your past-due customers. In this blog, we are going to explore some ways that probing questions our account agents use can help get overdue accounts paid. The goal being that we empower you with the same knowledge as one of our agents so you can collect just like a collection agency!
Fundera
SEPTEMBER 5, 2019
How Many Small Businesses Are There in the U.S.? There are 30.2 million small businesses in this country. Small businesses comprise 99.9% of all United States businesses. You’ve probably heard it said that “small business is the backbone of America.” But what does that saying mean in practice? How many small businesses are there in this country, and how many people do they employ?
Fundera
SEPTEMBER 8, 2019
Young entrepreneurs are leaving a big impression on the business world. From their innovative products and inventions to their ability to network like pros, a lot can be said about the newest generation of go-getters starting their own businesses. They’re often the first to try something new or support other business ideas as frequently demonstrated by the wildly successful crowdfunding websites.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Fundera
SEPTEMBER 17, 2019
Funny how the holidays can be both the most anticipated and the most dreaded season at the same time: Everyone in the office is excited to spend some time off with their families, but as the business owner, you have the added responsibility of throwing your employees a memorable seasonal send-off. . While not a requirement, throwing an end-of-year holiday party is a nice fringe benefit that doesn’t have to cost a lot but is a great way to show your employees that you care.
Fundera
SEPTEMBER 26, 2019
Financing a startup can be a long, complicated process. If you’re funding your business and don’t have a clue about the investment and process, don’t fret. We’ve broken down every step of the process and what it means for your ownership, to make learning about it as easy as pie. Read on for more info, or jump-to our infographic to see startup funding explained with pie.
Fundera
SEPTEMBER 30, 2019
Finding an apartment in New York City on a tight budget is no small feat, especially if you’re moving from outside the area. Jordan Davidovit probably knows this better than anyone. After moving to New York City from Montreal in 2014, Davidovit witnessed firsthand the fragmented and often shady process that goes into finding an apartment, particularly for those who are young, unfamiliar with the area, and without a lot of financial means.
Fundera
SEPTEMBER 15, 2019
5 Best Coffee Shop POS Systems. Best All-Around Coffee Shop POS: Square for Restaurants. Best Coffee Shop POS for High Volume Shops: ShopKeep. Best Coffee Shop POS for Larger Shops: Toast. Most Flexible Coffee Shop POS: Lightspeed for Restaurants. Best Low-Cost Coffee Shop POS: Loyverse. There’s nothing quite like the neighborhood coffee shop. It’s the perfect place to sip a hot beverage while you read your book, do some work, people watch, or reconnect with an old friend.
Fundera
SEPTEMBER 22, 2019
What Is a Main Street Business? You can think of a “Main Street” business as a local small business that’s typically a staple in its community. Main Street businesses can range across industries, from coffee shops to dry cleaners, florists, auto repair shops, and more. Main Street businesses are also referred to as mom-and-pop shops.
Fundera
SEPTEMBER 14, 2019
Stripe vs. Square: The Breakdown. When it comes to Stripe vs. Square, Stripe is the best choice for those looking for a developer-friendly online payment platform that offers far more payment options for customers. Square will offer you more powerful in-person payment options and an easy ecommerce store setup option. What about fees ? Square and Stripe have the same fees for online transactions at 2.9% + $0.30 per transaction, so it’s a draw.
Fundera
SEPTEMBER 18, 2019
8 Small Business Facts. There are 30.2 million small businesses in the United States. Eight million small businesses are minority-owned. Student debt is hurting small businesses and potential small-business owners. The chance of making it past your first year is pretty good. The most common reason businesses fail is a lack of demand. Small businesses were responsible for 66% of the new jobs in 2016.
Abrigo
SEPTEMBER 16, 2019
Community bankers are largely positive about the future, based on the first results of a new index gauging business sentiment among the financial professionals who serve a critical role in local economies. More than two-thirds of community banks surveyed for the Conference of State Bank Supervisors (CSBS) Community Bank Sentiment Index indicated they expect business conditions will be the same or better in the next 12 months.
Abrigo
SEPTEMBER 16, 2019
The burden of extensive regulatory exams on a financial institution’s BSA/AML program has taken its toll on the financial crimes industry for years. In an effort to improve the effectiveness and efficiency of those regulatory exams, the collective financial institution regulatory bodies (the Agencies) issued a Joint Statement on Risk-Focused Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Supervision (the Statement) on July 22, 2019.
Abrigo
SEPTEMBER 13, 2019
A rather common method for financial institutions to hedge earnings or value at risk is an interest rate swap transaction. As we move into ever-changing rate environments, eventually you or someone on your ALCO committee may wonder exactly what an interest rate swap would do for the institution. A good interest rate risk model should have the capability to do this type of what-if modeling so that you and the committee have the information needed to make the best decision.
Abrigo
SEPTEMBER 12, 2019
The Federal Trade Commission’s latest round of warning letters to companies selling products containing cannabidiol (CBD) is a reminder to financial institutions to tread carefully as they look into the possibility of providing banking services to cannabis-related retailers and other cannabis-related businesses (CRBs). The FTC warned three unidentified companies that it is illegal to advertise that a product can “prevent, treat, or cure human disease without competent and reliable scientific e
Abrigo
SEPTEMBER 9, 2019
Imagine buying a new engine for your car. Your car, however, happens to be 8 years old, with tread-worn tires, and a window that won’t roll up. You could buy that engine and get some good use out it, but the car would be a lot better if you also added a set of new tires and fixed the window at the same time. The same is true of financial institutions when they consider technology investments to transform their lending and credit operations.
Abrigo
SEPTEMBER 6, 2019
This morning’s BLS Employment Situation Report showed a disappointing 130,000 net jobs created for the month of August. Analysts had anticipated a gain of 150,000 jobs. Moreover, 25,000 of those jobs created were by the Federal Government due to hiring for Census-related activities. The Census will distort the payroll numbers until the process is completed.
Abrigo
SEPTEMBER 5, 2019
When a community financial institution spends a lot of money on technology, the last thing management wants is to be disappointed. It’s actually the last thing the technology provider wants as well – if the vendor plans to stay in business. The good news is that financial institutions can take several steps to ensure they avoid troublesome software integrations, says Steven Martin of Marcato Advisors, a bank consulting firm focused on achieving success with fintech.
Fundera
SEPTEMBER 12, 2019
9 Steps for Starting a Business in Illinois. Confirm you have a winning idea. Pick a business name. Create your business plan. Choose your business structure. Register your business in Illinois. Separate your personal and business assets. Obtain your business licenses and permits. Secure funding. Review an employer’s responsibilities. If you want to learn how to start a business in Illinois, congratulations!
Fundera
SEPTEMBER 10, 2019
How to Start a Painting Business. Draft a business plan. Get your business registered. Purchase insurance and get licenses. Set up a business bank account. Get an equipment financing loan. Get a small business term loan. Get a 0% intro business credit card. There are few certainties in life besides death, taxes, and the inevitability of home renovations, which may be good news for you if you’re looking to start your own business.
Fundera
SEPTEMBER 7, 2019
How to Accept Credit Card Payments Without a Merchant Account. In order to accept credit card payments without a merchant account, you’ll have to work with a payment service provider, also known as a third-party payment provider, payment facilitator, or processing aggregator. These providers, like Square and PayPal, allow you to accept credit cards through their payment service which includes a built-in merchant account—meaning they aggregate all of their customers’ funds into one merchant accou
GoCardless
SEPTEMBER 19, 2019
The cost-benefit analysis: A procedure used by businesses to assess the value of undertaking a project or making an important decision. Here's how you do one, and when and why you should.
Fundera
SEPTEMBER 27, 2019
Opening a Business Checking Account Online With No ChexSystems. To open a business checking account online with no ChexSystems report run on your financial history, you have a few options—BBVA Compass Bank, Chime Bank, as well as a handful of local banks—although many local banks will require you to apply for an account in-person. This being said, however, even if you find a no credit check business checking account from one of these banks, you’ll still want to take steps to improve your ChexSys
Fundera
SEPTEMBER 22, 2019
What Is a Main Street Business? You can think of a “Main Street” business as a local small business that’s typically a staple in its community. Main Street businesses can range across industries, from coffee shops to dry cleaners, florists, auto repair shops, and more. Main Street businesses are also referred to as mom-and-pop shops.
Fundera
SEPTEMBER 24, 2019
How to Calculate Debt-to-Equity Ratio. To calculate your business’s debt-to-equity ratio, you’ll divide your total liabilities by your total equity. This is known as the debt-to-equity ratio formula. The debt-to-equity ratio is a measure of your business’s overall stability. If your ratio is too high, this may signal that your business is in trouble and lenders may be less likely to extend financing options.
Fundera
SEPTEMBER 11, 2019
What Is Employment Practices Liability Insurance? Employment practices liability insurance (EPLI) protects businesses when they are sued for employment discrimination, harassment, unlawful termination, or similar claims. EPLI covers the business’s cost to defend against or settle such employment-related lawsuits. Most business owners rely on a good team to help their company succeed.
Fundera
SEPTEMBER 30, 2019
What Does Equity Ratio Mean? The equity ratio shows the amount of your company you own outright versus how much is financed by debt. You can calculate this number with the equity ratio formula, which divides your total equity by your total assets. Both of these numbers will be found on your balance sheet. A company with a high equity ratio is one that has less debt relative to its assets.
Fundera
SEPTEMBER 17, 2019
What Is the Quick Ratio Formula? The quick ratio is a number that tells you within moments whether your company can pay all of its current debts. Also called the acid test ratio, the quick ratio is a measure of your business’s liquidity. The quick ratio formula is relatively uncomplicated. It is: (Cash & Equivalents + Short-Term Investments + Accounts Receivable) / Current Liabilities = Quick Ratio.
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