Fundera
AUGUST 25, 2020
What makes for a great city for women entrepreneurs? It’s a city where women have the means, opportunities, and support to start their own business. It’s a city where they are surrounded by other women entrepreneurs and where they earn the same as their male counterparts for the same work (which in much of the U.S. is still not a given). It’s also a place where women can hire from a community that champions them.
Accenture Credit Management
AUGUST 17, 2020
The likelihood of a quick, V-shaped COVID-19 economic recovery is fading in many countries. The impact of the downturn—lower incomes, further job losses, diminished demand and more—is likely to endure, driving many consumer and business borrowers into default. A torrent of delinquencies will cause a new credit crisis that is likely to swamp but not….
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Abrigo
AUGUST 27, 2020
Key Takeaways FinCEN and federal regulatory agencies have been increasingly transparent in the first three quarters of 2020. Regulatory agencies understand that these are different times and are prepared to be more flexible in their examination. Regulators have determined there are five top hot topics that institutions should expect during their next exam.
StackSource
AUGUST 30, 2020
Many real estate investors are anxious to pull some cash out of their investments today. But many lenders aren't playing ball.
GoCardless
AUGUST 25, 2020
Strategic partnership includes new product integration.
Fundera
AUGUST 18, 2020
Top Business Grants for Black Women. SBA 8(a) Business Development Program. IFundWomen. NASE Growth Grants. Minority Business Development Agency (MBDA). Grants.gov. The Amber Grant Foundation. The Red Backpack Fund. Female Founders Fund. Black Girl Ventures. The most recent wave of the Black Lives Matter movement has amplified what Black people in America have known for centuries: Systemic racism is alive and well in America.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Fundera
AUGUST 9, 2020
A concept that can be confusing and frustrating for small business owners—especially come tax season —is depreciation. With depreciation, you buy an asset, like a computer, and even though the money has already left your bank account you can’t recognize the full expense. This accounting rule can make purchasing assets challenging for small businesses, which isn’t ideal.
Fundera
AUGUST 7, 2020
What Is Debt Service Coverage Ratio? The debt service coverage ratio (DSCR) compares a business’s level of cash flow to its debt obligations, calculated by dividing the business’s annual net operating income by the business’s annual debt payments. A DSCR that’s greater than one indicates that the business has enough income to comfortably cover loan principal and interest payments.
Fundera
AUGUST 14, 2020
If you’re shopping for small business loans , you might become confused by all the terminology that gets thrown your way. With factor rates, profit and loss statements, debt schedules, APY (annual percentage yield), real vs. nominal interest rates, all your business loan requirements come with a fair share of confusion. Two terms that are particularly misunderstood are annual percentage rate (APR) vs. interest rate.
Fundera
AUGUST 24, 2020
Jeff Bezos had a vision to build an “everything store”—an internet company that sold nearly every product type all over the world. In 2020, it’s safe to say he was successful, as Amazon sells everything from web services for startups to Nicolas Cage pillowcases. But when Bezos launched Amazon 25 years ago, it was simply an online bookstore. Amazon’s origins are a fitting case study in niche marketing.
Abrigo
AUGUST 27, 2020
Key Takeaways FinCEN and federal regulatory agencies have been increasingly transparent in the first three quarters of 2020. Regulatory agencies understand that these are different times and are prepared to be more flexible in their examination. Regulators have determined there are five top hot topics that institutions should expect during their next exam.
Abrigo
AUGUST 19, 2020
Key Takeaways COVID-19-related fraud are not new typologies; they just have a new spin. Update your spike or anomaly scenarios to detect increases (or decreases) in aggregate transactions. Adjusting your velocity scenarios can help detect money mule scams and check fraud. . Experiencing life during a global pandemic is something most people never thought would happen in their lifetime.
Abrigo
AUGUST 19, 2020
Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. Embrace technology to help your department and institution successfully shift to remote work. Experiencing life during a global pandemic is something most people never thought would happen in their lifetime.
Abrigo
AUGUST 18, 2020
Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. Embrace technology to help your department and institution successfully shift to remote work. The coronavirus pandemic has created a “new normal” for many industries, including the financial industry.
Abrigo
AUGUST 18, 2020
Key Takeaways BSA officers need to stay aware of emerging fraud trends that are a result of the pandemic. Consider a risk-based lookback for your PPP portfolio to fight fraud. Embrace technology to help your department and institution successfully shift to remote work. The coronavirus pandemic has created a “new normal” for many industries, including the financial industry.
Abrigo
AUGUST 12, 2020
Key Takeaways The coronavirus pandemic has upended financial institutions' long-term business strategies, but now FIs have an opportunity to consider how consolidation can create greater efficiencies and better results – especially in the area of CECL and valuation calculations. FIs must confront misconceptions about relating fair value and CECL, such as the belief that discount rates are the same for fair value and CECL.
Abrigo
AUGUST 12, 2020
Key Takeaways The coronavirus pandemic has upended financial institutions' long-term business strategies, but now FIs have an opportunity to consider how consolidation can create greater efficiencies and better results – especially in the area of CECL and valuation calculations. FIs must confront misconceptions about relating fair value and CECL, such as the belief that discount rates are the same for fair value and CECL.
Abrigo
AUGUST 12, 2020
Key Takeaways The coronavirus pandemic has upended financial institutions' long-term business strategies, but now FIs have an opportunity to consider how consolidation can create greater efficiencies and better results – especially in the area of CECL and valuation calculations. FIs must confront misconceptions about relating fair value and CECL, such as the belief that discount rates are the same for fair value and CECL.
Abrigo
AUGUST 11, 2020
Key Takeaways The SBA's PPP Forgiveness Platform opened to lenders on Aug. 10, Before lenders can begin submitting their decisions on the forgiveness applications, they must acquire credentials to use the SBA platform. It's also a good idea to review thoroughly any documentation that lenders plan to submit along with their decisions. The SBA PPP Forgiveness Platform opened Aug. 10.
Abrigo
AUGUST 11, 2020
Key Takeaways The SBA's PPP Forgiveness Platform opened to lenders on Aug. 10, Before lenders can begin submitting their decisions on the forgiveness applications, they must acquire credentials to use the SBA platform. It's also a good idea to review thoroughly any documentation that lenders plan to submit along with their decisions. The SBA PPP Forgiveness Platform opened Aug. 10.
Abrigo
AUGUST 10, 2020
Key Takeaways Criminals are using common typologies to exploit people during the COVID-19 pandemic. Cybercriminals are targeting remote platforms and processes. There has been an increase in business email compromise schemes during the pandemic. . As the COVID-19 pandemic continues to wreak havoc around the globe, related fraud continues to escalat e.
Abrigo
AUGUST 10, 2020
Key Takeaways Criminals are using common typologies to exploit people during the COVID-19 pandemic. Cybercriminals are targeting remote platforms and processes. There has been an increase in business email compromise schemes during the pandemic. . As the COVID-19 pandemic continues to wreak havoc around the globe, related fraud continues to escalat e.
Abrigo
AUGUST 5, 2020
Key Takeaways This recession is significantly different than the 2008 financial crisis, creating a unique credit environment for financial institutions. Economic downturns alter the credit memo's content and process to capture credit risk. Loan grading will need to be tweaked and specific sectors may need to be treated differently in the face of a recession.
Fundera
AUGUST 31, 2020
The rise of craft beer is still going strong, meaning that starting a business —like a contract brewing company—will be lucrative for years to come. This $26 billion segment [ 1 ] of the brewing industry began to spike in 2012, and isn’t slowing down. But as budding brewmasters look to start their own businesses, few can afford to invest the amount of capital—usually anywhere from $100,000 to $1 million [ 2 ] —to open up their own facility.
Fundera
AUGUST 19, 2020
Difference Between an Independent Contractor and an Employee. The key difference between an independent contractor vs. an employee comes down to taxes. An employer is responsible for withholding taxes, including income tax, social security tax, and Medicare tax from an employee’s paycheck. An employer is not responsible for withholding taxes from an independent contractor.
Fundera
AUGUST 6, 2020
In the wake of the coronavirus pandemic, small business owners all over the U.S. are looking for relief. After all, never before have so many businesses been forced to restrict their operations and navigate such limited foot traffic and consumer spending while still keeping the lights on. The good news is that between the federal relief options created by the CARES act , as well as state, local, and even private small business stimulus grants, there are places to turn to receive financial assist
Fundera
AUGUST 6, 2020
Knowing your cost of goods sold is one of the foundations of good business accounting. Although some service businesses show cost of sales on their profit and loss statement, for the purposes of this article we are going to focus on inventory-based businesses. Specifically, we are going to look at what cost of goods sold is, how to calculate cost of goods sold, and some common arguments regarding what is included in cost of goods sold—and what isn’t.
Fundera
AUGUST 12, 2020
What Are LLC Articles of Organization? Articles of incorporation are documents that establish the existence of a corporation and are sometimes known as certificates of incorporation. In order to form a limited liability company (LLC), you must file articles of organization with the state and pay a filing fee. The required information can vary, but the basic elements are details about your incorporators and board of directors, business contact information, the purpose of your LLC, and signatures.
Accenture Credit Management
AUGUST 24, 2020
In my previous post, I highlighted three overlapping phases of the looming credit crisis and the implications for banks. As I mentioned recently on the World Economic Forum’s COVID Action Platform (Accenture leads the WEF’s COVID-19 Banking and Capital Markets Industry Action Group), the next few months will likely see the weight of activity shift….
Fundera
AUGUST 9, 2020
These days, the field of business marketing is quick to embrace the latest ways to reach any online audience, and we often forget that offline promotion can be equally vital. Contrary to experts’ opinions , the physical business card is not dead— it’s still a powerful tool. In certain fields and within specific age groups, these cards are a given.
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