Fundera
NOVEMBER 26, 2019
Some people venture into entrepreneurship knowing what industry they want to conquer and what type of business they want to start. However, for many new entrepreneurs, it can be difficult to figure out how to start a business and exactly what kind of business is the best choice. It’s tough to find that perfect idea. We’ve compiled a list of the most profitable small businesses for 2020.
Abrigo
NOVEMBER 25, 2019
Key Takeaways A dynamic asset/liability management (ALM) process can inform sound decision-making in both strategy and risk – but not many FIs approach ALM this way. Most FIs outsource their ALM model, rather than using a self-run model. Both have their pros and cons. The majority of FIs report being asset sensitive for earnings and value at risk. Why aren't more FIs using ALM as a decisioning tool?
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GoCardless
NOVEMBER 20, 2019
Discover our key takeaways from Xerocon London 2019.
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. They are great in their field of expertise, yet are lost when they have a customer who is not paying their invoice.
Speaker: Susan Richards
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
Fundera
NOVEMBER 22, 2019
The holiday season is a critical money-making time for many independent businesses and if your small business marketing strategies are strong they can go a long way. What’s more, it’s a prime opportunity to grow your customer base and turn one-time buyers into frequent patrons who will return to your business even after the holidays are over. . “Most people are looking to buy presents for the people in their lives, so they’ll likely venture to sites and stores they wouldn’t shop at
Fundera
NOVEMBER 7, 2019
No matter how experienced you are as an entrepreneur—whether you’re just opening your doors or have already started a few successful businesses—you can always benefit from advice from someone who has followed a similar journey. That’s where reading some of the best books for entrepreneurs comes into the mix. . Maybe you need a little inspiration to rev up your engines, or you could use some advice on how to be a better manager and bring your business to new heights.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Fundera
NOVEMBER 29, 2019
A professional employer organization (PEO) provides comprehensive HR, benefits, payroll, compliance, and other administrative services for businesses of all sizes. By outsourcing these complex, time-consuming, and generally burdensome tasks to PEOs, business owners can focus on larger-scale matters and run their businesses more efficiently overall. But with over 900 PEOs operating in the U.S., it can be a time-consuming and burdensome task in itself to track down the best PEO for your business.
Fundera
NOVEMBER 30, 2019
What Is a Schedule K-1 Tax Form? IRS Form Schedule K-1 is an annual tax document that must be filed by owners of pass-through entities (partnerships, S-corporations, and certain LLCs) along with their personal tax return to report their share of business profits, losses, deductions, and credits. Beneficiaries of trusts and estates must also complete a Schedule K.
Fundera
NOVEMBER 30, 2019
Excel Bookkeeping, In Summary. In order to manage your basic bookkeeping using Excel, you’ll want to start with a template that includes a chart of accounts, transaction sheet, and income statement sheet. To create your own Excel bookkeeping system, you’ll customize this template, save it to your computer, and then record and categorize your day-to-day transactions within the document.
Fundera
NOVEMBER 1, 2019
What Are Fringe Benefits? Fringe benefits are any form of compensation an employer offers their employees in addition to their stated salary. Examples of fringe benefits include health insurance, paid time off, discounted gym memberships, education reimbursement, retirement planning services, and more. Fringe benefits have never played a more important role in the workplace.
Fundera
NOVEMBER 23, 2019
As a small business owner, you don’t need to be told that managing your company’s day-to-day operations—from business finances to logistics—can be a rewarding, yet exhausting responsibility. . After all, there is a finite amount of resources available—and lots to do. Learning to streamline as many processes as possible can help ensure you and your team are using your time wisely, while also keeping your customers satisfied.
Fundera
NOVEMBER 7, 2019
How to Find Business Investors: The Quick List. Trusted Introductions. Strategic Networking. Online Investment Platforms. Industry Conferences and Summits. Cold Outreach. Friends and Family. Universities and Incubators. Kicking a new small business into accelerated growth mode takes capital, and a lot of it. Although new small businesses do have several options for financing their businesses , like business loans , it’s admittedly difficult to get a hold of the money you need to go big without
Fundera
NOVEMBER 1, 2019
What Is Crowdfunding? Crowdfunding is a method of fundraising typically used to raise money for business ventures, personal projects, nonprofits, etc. through the collection of small amounts of funds from a large number of contributors. It’s a helpful way for entrepreneurs, innovators, and creatives to get their idea on its feet. It’s likely you’ve heard of Kickstarter, Lending Club, or GoFundMe.
Fundera
NOVEMBER 29, 2019
How to Start a Fitness Business. Decide what kind of business you want to operate. Get trained. Write a business plan and select an entity. Get permits and insurance. Get an EIN. Get funding. Starting a fitness business is a heavy lift (pun intended). But it can also be a very rewarding industry to work in. You are helping people accomplish their fitness goals, and in turn, helping them to live healthier lives.
Fundera
NOVEMBER 4, 2019
5 Best Business Credit Cards for New Businesses. Blue Business Plus Credit Card from American Express: Best 0% Intro APR. Chase Ink Business Preferred Credit Card: Best Welcome Bonus. Capital One ® Spark Cash for Business: Best for Cash Back. Chase Ink Business Unlimited: Best for No Annual Fee. Capital One ® Spark Classic for Business: Best for Fair Personal Credit.
Fundera
NOVEMBER 18, 2019
The 23 Best Inventory Management Apps. Stockpile by Canvus. Veeqo. Ordoro. Delivrd. Sortly. On Shelf. Inventory Now. Cin7 Inventory & POS. Zoho: Inventory Management Software. Inventory Control with Barcode Scanner. inFlow On-Premise. Fishbowl. myStock Inventory Manager. Partender: Bar Inventory Software. Asset & Inventory Tracker. Stock Control.
Abrigo
NOVEMBER 25, 2019
Key Takeaways Optimizing loan deal flow involves more than number crunching and processes; don't overlook the human component. Some questions may help identify loan types, industries, and even co-workers who contribute to bottlenecks. Other questions can highlight changes to the work setting that might encourage more efficiency. The human component of optimizing deal flow.
Abrigo
NOVEMBER 22, 2019
Key Takeaways Credit analysts who are proficient in routine skills but also possess certain soft skills are most beneficial to a bank or credit union. Curiosity to dig behind the numbers and perspective are two traits of a strong credit analyst. A strong credit analyst is introspective and has emotional intelligence. Soft skills are important for credit analysts.
Abrigo
NOVEMBER 21, 2019
Key Takeaways FATF best practices identify the most common challenges that countries face in ensuring that the beneficial owner(s) is identified. FATF suggests using a multi-pronged approach to ensure beneficial ownership is obtained. The US is at a disadvantage without a national beneficial ownership registry. . The importance of CDD and EDD around beneficial ownership.
Abrigo
NOVEMBER 21, 2019
Key Takeaways Now is a good time to plan 2020 BSA/AML training and efforts to educate clients and colleagues about BSA and fraud red flags. It's also a good time to enhance your institution's BSA/AML risk assessment. Sustainability of your institution's BSA program deserves particular focus in 2020. As another busy year draws closer to an end it is time to reflect on the challenges and successes of the year.
Fundera
NOVEMBER 30, 2019
What Is the Federal Unemployment Tax Act (FUTA)? The Federal Unemployment Tax Act (FUTA) is a federal law that compels businesses to pay annually or quarterly to fund unemployment benefits for employees who lose their jobs. Businesses report the FUTA tax they pay using IRS Form 940. The FUTA tax rate for most businesses is 0.6% of the first $7,000 of wages.
Fundera
NOVEMBER 8, 2019
As a small business owner, your team and clients hold the greatest value for your business. They have helped build your business into what it is today, and their hard work and feedback help your company grow and improve. With Thanksgiving around the corner, there’s no better time to be thankful for your team, clients, and other supporters. Showing your appreciation can increase productivity within your office, sales from your clients, and overall happiness within your network.
Fundera
NOVEMBER 6, 2019
When running a small business, there are plenty of tasks that seem more important than advertising. Or, at least a ton of to-dos that keep you from having to figure out how effective small business advertising works. Many entrepreneurs are afraid of advertising, even if they know how important it is to their larger marketing strategy —and bottom line.
Fundera
NOVEMBER 18, 2019
If you’re considering opening a new location, chances are you’ve done a pretty good job building up your business. Maybe you’re seeing steady sales growth or hearing customers complain that they have to travel too far to get to your business. Whatever your reason for considering expansion, congratulations! It should be a point of pride to be among the 80% of small businesses that succeed in their first year.
Fundera
NOVEMBER 29, 2019
Confession of Judgment Definition. A confession of judgment is a clause within a loan agreement that allows a lender, if the borrower has defaulted, to obtain a judgment against the borrower without following regular court procedures. The lender can use the signed confession to garnish the borrower’s bank account or seize assets. Confessions of judgment are most common in merchant cash advances and online loans.
Fundera
NOVEMBER 13, 2019
Whether you’re just starting a business or are a veteran entrepreneur, startup books are one of the many ways to get inspiration and to stay motivated. If you think you’re in over your head, or are just plain curious about what others have been through, startup books are a great resource full of entrepreneur advice , strategies, and inspiration. There are so many options to choose from, though, that selecting just a few to check out from your local library can become an overwhelming task in itse
Abrigo
NOVEMBER 19, 2019
Key Takeaways The goal of the SAFE Banking Act is to provide a safe harbor for institutions looking to bank credible CRBs. The MORE Act and the STATES Act are currently proposed to legalize/decriminalize marijuana. The MORE Act will be voted on in Congress in November. . Many financial institutions across the country continue to resist providing traditional banking services to marijuana-related businesses (MRBs) due to the legislative gray area facing the industry.
Abrigo
NOVEMBER 19, 2019
Key Takeaways The goal of the SAFE Banking Act is to provide a safe harbor for institutions looking to bank credible CRBs. The MORE Act and the STATES Act are currently proposed to legalize/decriminalize marijuana. The MORE Act will be voted on in Congress in November. . Many financial institutions across the country continue to resist providing traditional banking services to marijuana-related businesses (MRBs) due to the legislative gray area facing the industry.
Abrigo
NOVEMBER 18, 2019
Key Takeaways Cannabis-related businesses operate in high cash volumes, creating a public safety concern. The SAFE Banking Act looks to create a safe harbor for institutions looking to bank legitimate CRBs. The SAFE Banking Act does not remove marijuana as a schedule 1 drug on the Controlled Substance Act. Why is the SAFE Banking Act important? As differences continue to exist in state and federal law around the cannabis industry, it creates a growing gray area for financial institutions around
Abrigo
NOVEMBER 15, 2019
Key Takeaways Effective credit risk review promotes lending agility. Many of the objectives of a credit risk review system support business goals. Keys to effective loan review are independence, sufficient standing in the organization, and adequate funding. Regulators consider an effective loan review system vital for financial institutions’ efforts to meet safety and soundness standards.
Abrigo
NOVEMBER 11, 2019
On November 8, 2019, the Financial Crimes Enforcement Network (FinCEN) reissued their Geographic Targeting Orders (GTOs) for 12 metropolitan areas. GTOs are authorized under the Bank Secrecy Act to detect money laundering and other illicit activity through the purchases of real estate. As a reminder, the purchase threshold for real estate transactions is $300,000 and includes virtual currency purchases.
Abrigo
NOVEMBER 11, 2019
ALM | 4 minute read Key Takeaways Many financial institutions view asset/liability management as a "check-the-box" regulatory exercise. An extreme focus on using ALM to manage the risk of rising rates means some FIs overlook using ALM to grow earnings and capital, putting them at risk of underperformance. ALM should be used to create value in all interest rate environments.
Abrigo
NOVEMBER 8, 2019
Stress Testing | 7 minute read Key Takeaways Stress testing is an important component of sound risk management. Top down and bottom up analysis can inform capital assessments. Stress testing can put a burden on smaller financial institutions, but today's technology "levels the playing field.". Some financial institutions may view stress testing as a “check the box” practice to satisfy regulators, but others are making the most out of the process.
Abrigo
NOVEMBER 7, 2019
CECL | 7 minute read Key Takeaways Balancing the scales: the FASB's cost-benefit an alysis of CECL. Strategies to lessen the impact of CECL on smaller community banks. How to work better with field examiners and auditors. . The transition to the current expected credit loss (CECL) standard is just around the corner for larger SEC filing institutions, but for many institutions, there are still many questions surrounding the new standard.
Abrigo
NOVEMBER 7, 2019
3 minute read Key Takeaways The USDA released their interim rule on hemp production. States and tribes must include key components in their programs. States may begin submitting programs to the USDA for approval. . The 2018 Farm Bill started the process of hemp legalization when it was signed into law back in December 2018, but there was still work to be done before the production and cultivation could be seen as fully legal.
Abrigo
NOVEMBER 6, 2019
Small Business Loans | 5 minute read Key Takeaways Credit unions' small business loans hit a record low, while small business lending continues to remain strong at big banks and community banks. Going digital can help reduce the cost of small business lending and capture more member business loans. SBA loans do not count against the MBL cap and can be a great way for credit unions to support local businesses and entrepreneurs. .
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