Fundera
FEBRUARY 26, 2016
Perhaps you’re thinking of leaving the 9-to-5 grind, maybe you’re ready to make a career change, or you’re fresh out of school and ready to change the world with your entrepreneurial spirit. Whatever the reason, these days it’s easier than ever to work from home or launch a startup. And your local Small Business Administration office can help determine what, if any, business documentation you’ll need.
Abrigo
FEBRUARY 29, 2016
Two-thirds of bankers in a recent poll said their allowance for loan and lease losses (ALLL) is primarily calculated by only one or two people in the institution, according to Sageworks, a financial information company that provides loan portfolio and risk management solutions to banks and credit unions. Sageworks conducted the poll of more than 600 individual bankers from both banks and credit unions during a recent CECL Workshop webinar in order to determine what problems currently plague the
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GoCardless
FEBRUARY 29, 2016
GoCardless has helped businesses in the hospitality sector like Bookatable and Zenchef. Here’s how.
Fundera
FEBRUARY 24, 2016
When a craving for something sweet hits, there isn’t much else that can scratch that itch. A healthy snack might tamp down those hunger pangs, but nothing is quite as emotionally satisfying as a sugary treat. That realization hit Kristen Tomlan, the founder of New York-based cookie dough bakery DŌ , after she found herself turning away too many potential customers due to a business model that focused only on completing online orders.
Fundera
FEBRUARY 23, 2016
They say diversity is the spice of life… And boy, taking out a business loan can be pretty spicy. There are plenty of reasons why you might want to get a loan for your business from a bank or alternative lender—ranging from making payroll next week to expanding your operations with another location, and everything in between—so it’s fitting that there are more than a few kinds of loans to pick from.
Fundera
FEBRUARY 22, 2016
Ma Joie Press from SALTBOX on Vimeo. “A lot of people don’t appreciate industrial equipment the way I do,” says Katrina Huffman. That industrial equipment she’s talking about? Her antique letterpress, the cornerstone of her printing business. Using a combination of old and new technology, Katrina crafts letterpress invitations and paper goods from her studio in Dallas, Texas.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Fundera
FEBRUARY 17, 2016
So you want to know how to start a business. Good for you! You’ve already taken a big, scary step into the unknown, just by considering the option. Whether you’re primed with a big old business degree or you couldn’t recognize a marketing plan if it bit you on the nose, every first-time wanna-be entrepreneur starts in exactly the same boat. You’ve never done this before, you’re a little bit terrified, and everyone around you probably assumes that you’re crazy.
Fundera
FEBRUARY 16, 2016
That’s right, folks—it’s a good time of year to have a little chat about the difference between accountants and bookkeepers. I’m the first person to correct someone who calls me an accountant. No, I always say, I’m a bookkeeper. Whenever someone wants to know what I do, I’ll ask if they’ve ever heard of QuickBooks. “Oh, so you’re an accountant?
Fundera
FEBRUARY 15, 2016
During the summer of 2011, Mark Piantedosi hired his teenage son Michael to work for his landscaping company. It was one of his best business and parenting moves so far. Piantedosi, owner of Rudy’s Tree & Landscape and Commonwealth Landscape Lighting in Acton, Massachusetts, taught his now 21-year-old son everything about working at his landscaping and lighting design businesses.
Fundera
FEBRUARY 12, 2016
Are you seeking a short-term line of credit for your business to get over a cash flow crunch or handle unexpected expenses? Getting a line of credit from a business bank can be time-consuming and difficult—you’ll need to fill out a pile of paperwork, and probably put up some collateral. If you need a line of credit quickly, consider working with an alternative lender like OnDeck or Kabbage.
Fundera
FEBRUARY 10, 2016
The main advantage of a franchise is hard to overlook: they combine the flexibility and independence of small business ownership with the infrastructure, reach, and support of a large corporation. In many ways, it offers the best of both worlds. Because many franchises offer access to a proven business model, startup fees and costs can often be significant for the franchisee.
Fundera
FEBRUARY 10, 2016
Some people are just born to be entrepreneurs. They’ve got a streak of independence that makes them absolutely determined to succeed on their own. But for many wanna-be entrepreneurs, it can difficult to decide exactly what kind of business would be the best choice. It’s tough to find that perfect idea! If you’re determined to start your own business, you probably know at least these two things for sure: you want to be your own boss, and you want to make a profit.
Fundera
FEBRUARY 9, 2016
Looking to borrow money for your business but not sure what your commercial financing options are? Here’s a quick overview of the 6 most common commercial financing options to keep your business on track. 1. Traditional Term Loan. This is the type of commercial financing you’re likely most familiar with—their flexibility and simplicity make them attractive.
Fundera
FEBRUARY 8, 2016
Mario Bazán Cellars: Every Vine Has a Story from Carlos Foster on Vimeo. When Mario Bazán arrived in Napa, he knew where he wanted to spend the rest of his life. Mario is a winemaker—and the founder of Mario Bazán Cellars , a vineyard located in Napa Valley, California. He’s been growing grapes since 1973. When Mario first arrived in California from Mexico, he did manual labor for Napa’s vineyards out of necessity, but soon fell in love with the work.
Fundera
FEBRUARY 5, 2016
For small business owners, insurance can be a huge pain. It’s just one more “trivial” item to add to the never-ending list of to-dos, right? The truth is that it’s one of the most important protections an entrepreneur can purchase, and it doesn’t have to be a confusing pain to get. . Let us save you the time and frustration. Here are the 4 major steps to getting a quality insurance program in place—and making the most of it!
Fundera
FEBRUARY 5, 2016
2 years. 730 days. 17,520 hours. However you want to put it, we’ve spent a long time here at Fundera trying to help small business owners get what they deserve. We’re always looking forward to what’s up next, but for our second year anniversary, we thought we’d take a glance back and celebrate what’s been accomplished so far.
Fundera
FEBRUARY 3, 2016
They say beauty is in the eye of the beholder—and as it turns out, the same can be said for the best small business ideas. While the options for small business ownership seem endless, what defines a “best” idea largely depends on the personality of the entrepreneur. What are your skills and interests? Who is your ideal client? What is your ideal work environment?
Fundera
FEBRUARY 2, 2016
The word “transparency” gets thrown around a lot—but what does it actually mean? In small business lending, it means access to industry-wide information on eligibility requirements and rate trends. It means clear and concise explanations of all the different loan products available. It means holding lenders and brokers accountable for their actions, and enforcing honesty on every level.
Fundera
FEBRUARY 1, 2016
Scott Riebling spent much of his childhood making pizza, dreaming of someday opening his own pizzeria. He also focused on his other passion: music and playing in bands. . The Pittsburgh native moved to Boston to attend Berklee College of Music. His music career took off while he placed his pizza dreams on the backburner. Riebling toured the world playing bass for bands like Weezer and Letters to Cleo (an alt rock band remembered for their presence in 10 Things I Hate About You) starring Julia S
Fundera
FEBRUARY 2, 2016
If you’re old enough to own a business, then chances are good that you remember the YellowPages phone directory that sat on your parents’ kitchen counter. Back in the day, if someone needed to find anything—from a local restaurant to the closest plumber—the YellowPages was the place to look. Times have changed, and now we look for these services online.
Fundera
FEBRUARY 17, 2016
Just as you monitor your personal credit score by reviewing your credit reports periodically, it’s important to keep up to date on your business’s credit score by regularly reviewing its credit reports, too. Your business credit score affects your ability to get loans, enter into leases, and make purchases—and since other businesses, banks, and lenders can check it at any time without your permission, you want to make sure that it’s completely accurate.
Fundera
FEBRUARY 18, 2016
This week’s Fireside Chat: Meredith Wood, Editor-in-Chief, sits down with Manny Sevillano, Loan Specialist, to break down what DSCR is—and why your business needs to know this number before applying for a loan. What exactly is a DSCR? How can you figure yours out? And why do lenders care about it? Watch to find out—and tweet @ Fundera with the hashtag #FunderaFiresideChats if you have questions for our next one!
Fundera
FEBRUARY 8, 2016
Millions of Americans agree: Getting in shape is easier when you have a gym membership. The fact that most gym franchises have the tools for a variety of workouts—from machines to classes to free-weights—that most people can’t keep at home is one thing. The financial incentive to not let your monthly or yearly fee go to waste is also strong. That might help explain why there are over 30,000 gyms and health clubs in the U.S. alone, with paid memberships rising steadily since the early 2000s.
Fundera
FEBRUARY 15, 2016
If you’re a small business owner frustrated by outstanding accounts receivables, you might have heard of invoice financing and invoice factoring as possible solutions to dealing with a slow cash flow. And while both invoice financing and invoice factoring could help smooth out cash flow issues, it’s important to know before evaluating these options that they aren’t the same thing.
Fundera
FEBRUARY 22, 2016
Applying for a business loan takes plenty of time, energy, focus, and preparation. So the last thing you want to happen, after putting in all of that effort, is to get your application turned around by a lender. Sometimes, your business loan application will be rejected or delayed for a fairly obvious reason—a low credit score, missing important documentation, not enough cash coming in.
Fundera
FEBRUARY 3, 2016
Congratulations! Your application for a business loan was approved and funded… Now what? You might think that’s the end of the story. After all, you got what you wanted, right? But depending on what you do once you’ve received that business loan, this could be a great opportunity to better position your business for future borrowing success—maybe even giving you access to more money at lower rates.
Fundera
FEBRUARY 18, 2016
Here’s something that most new entrepreneurs learn very early: even the best business idea can’t fully blossom if there isn’t enough capital to support it. A healthy business needs growth—and growth takes money. This leads to an age-old conundrum for small business owners: how do you raise enough capital to let your business flourish?
Fundera
FEBRUARY 9, 2016
Location, location, location: it’s not just something for real estate agents to keep in mind. If you own a small business, then you’ll definitely want to be aware of your community and surroundings. Your location can influence your business on a couple of different levels. Where your store actually stands makes a difference: is it in a popular shopping center or just off a major highway?
Fundera
FEBRUARY 24, 2016
As all small business owners know, there are tons of times where you’ll need cash unexpectedly, whether to cover yourself during a tough season or to go after a growth opportunity. Many business owners like to have a business credit card or line of credit on hand just in case—since both offer revolving credit, you can borrow up to the maximum amount and pay whatever you withdraw back over and over.
Fundera
FEBRUARY 1, 2016
So you got your first one-star review, or a last-minute cancellation, or a furious message in your support inbox. Take a deep breath, count to ten, and repeat these affirmations: 1. “I will not take criticism personally.”. Don’t give into a dark spiral of self-reproach—or righteous anger. Your upset customer is almost certainly not considering the thinking, feeling person behind the business they’re roasting.
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