Abrigo
AUGUST 26, 2016
One of the biggest shifts in banking in the past few years has been the decline of the branch. As Anthony Burnett of LEVEL5 , a branch consultancy, mentioned in a recent webinar , many banks are struggling to make the old branch model work in the modern banking environment. In a time of increasing mobile and online banking, many bankers may be wondering what the future role of the branch is.
Fundera
AUGUST 31, 2016
Michael Wood has owned Providence Homes for over 30 years now, building countless one-of-a-kind homes along the way. How has this Texas-based homebuilder balanced his love for creativity with his commitment to managing a successful small business? “Keeping it in the family,” Michael sat down with his daughter Meredith—Fundera’s own Editor-in-Chief—and answered a few of her questions on what it’s like to own (and retire from) a thriving small business for over three decades. 1.
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GoCardless
AUGUST 30, 2016
The success of a cloud-based service is underpinned by how well data flows between the firm and its clients. Find out how you can make sure the best process is backed up by a great client experience.
Abrigo
AUGUST 26, 2016
Day in and day out, bankers face a number of pressures as they do their jobs. They must find new customers and keep current customers happy. They must keep a tight rein on expenses and avoid running afoul of the many regulatory requirements for their institutions. And they must keep an eye on competitors and external pressures to make sure tomorrow’s results will be as strong as today’s.
Abrigo
AUGUST 1, 2016
Everywhere you look, it seems, there are articles about Millennials: Millennial workers, Millennial customers, Millennial homeowners, Millennial voters. This generation -- described often as being born between the early 1980s and early 2000s (i.e., currently in their late teens to their mid-30s) -- seems to be both hated and loved, depending on the day of the week and who is talking.
Abrigo
AUGUST 16, 2016
In early June, Sageworks hosted a Current Expected Credit Loss (CECL) Workshop Series webinar and asked the attendees “Given what we know about CECL, what area do you feel will see the largest impact?” Greater than 81% of the 595 bankers who replied said that they expect the largest impact will be seen in the capital reserve levels, disclosure criteria and the involvement in the calculation across departments within the institution.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Fundera
AUGUST 23, 2016
If you’ve ever gone through the business loan application process, you know that preparing all that paperwork is one of the biggest pains of applying. There are a lot of business loan requirements out there and each lender could require slightly different documentation. But there are a few basic documents that you can absolutely expect to have on your long list of requirements.
Fundera
AUGUST 17, 2016
Whether your business is wholesale, retail, or a combination of the two, any product-based business owner knows that your inventory is your business. If you’re not paying attention to where your inventory is, how much you have available, re-ordering needs, inventory financing , and so much more, you can easily be wasting your money on products no one wants while missing opportunities to offer the products your customers are most excited about.
Fundera
AUGUST 17, 2016
When you’re on the hunt for the right business credit card for your company, take a step back and ask yourself this: “ Why do I want this credit card?”. Do you want to maximize benefits? Take advantage of a high spending limit? Avoid annual fees? As you search for the right business credit card, it might seem like you have to prioritize just one of these categories and compromise on the others—no credit card is perfect, after all.
Fundera
AUGUST 16, 2016
Small business apps. Who needs ‘em? You do. Because, as a small business owner, you’re just too dang busy to handle all the banking, budgeting, accounting, planning, employee management, customer management, inventory tracking, quality assurance, marketing plans, complaints, requests, equipment, financing , and ten thousand other things—all by yourself.
Fundera
AUGUST 18, 2016
No matter where you launch your business, you’re going to have be careful and smart about handling a commercial real estate purchase. And that starts with knowing the ins and outs of commercial property loans. By learning how to navigate the commercial mortgage process, you’ll understand what it takes to get the best rate and terms. This way, you can save a significant amount of money in the long run, leaving you extra capital to do what you set out to do: grow your business.
Fundera
AUGUST 25, 2016
If you had a more typical job—one with cubicles and dress socks—it would be much easier to prove your income and employment during the mortgage process. But when you own a small business , getting a home loan can be tricky. Let’s take a look at the documentation needed to get a mortgage when you’re self-employed. With the right preparation, you can own your own business and your own home. 1.
Fundera
AUGUST 16, 2016
New legislation recently signed into law by New York City mayor Bill de Blasio is taking a small yet controversial step in the direction of protecting local “mom and pop businesses,” which are disappearing across the country. New York in particular has suffered from a high-profile and visible loss of unique small businesses that used to serve as the lifeblood of their neighborhoods, and “ Int.
Fundera
AUGUST 25, 2016
Lending Club might be best known for having a quick and easy application process. But small business owners don’t just want to apply for a loan—they want to receive one as well. Translating a final loan offer from Lending Club is the last step in the lending process, and one that requires some knowledge of the figures and fees they’ll be presented with.
Fundera
AUGUST 19, 2016
Applying for a small business loan through Lending Club , one of the pioneers of the marketplace lending space, is a straightforward endeavor. The application process—discussed in-depth in the first part of our series on working with Lending Club—takes place entirely online and can be completed in a matter of minutes. The next step is to go through the underwriting process.
Fundera
AUGUST 18, 2016
Marketplace lending is a relatively new phenomenon in the world of debt financing, and no company has done more to push the innovation forward than Lending Club. It’s grown from its start as one of the first Facebook applications in 2006 to become the largest marketplace lending platform in the world, helping borrowers with over $20 billion in loans.
Fundera
AUGUST 11, 2016
You took out a small business loan with the best of intentions… But things didn’t quite work out the way you’d planned—and now you can’t make your loan payments. What happens when you default on a loan? While the specifics vary depending on your lender, type of loan , and loan agreement, here are some general guidelines about what to expect.
Fundera
AUGUST 29, 2016
We’re thinking of a number between 300 and 850… and it’s your credit score. Do you know what it is? And most importantly, is it where you want it to be? Unless you have an absolutely perfect credit score—850—we’re willing to bet that you’d like to tack on a few points to that three-digit number. Building credit fast is no easy task. Your credit rating is with you for the long-haul and is built up over years and years of credit history—so it won’t just change overnight.
Fundera
AUGUST 8, 2016
How To Tell If You’re An Entrepreneur from Minute MBA by OnlineMBA. Entrepreneurs aren’t like most people. They see opportunity where most people see dead ends. They value taking risks more than they fear making mistakes. If this sounds like you, you might be a born entrepreneur. “How to Tell If You’re an Entrepreneur” breaks down four of the most common characteristics of business owners.
Fundera
AUGUST 10, 2016
As a small business owner, you probably think of your newly-opened business as a snowflake: totally unique and worthy of special consideration. But the fact of the matter is that, in the eyes of some business lenders , there are just certain industries they can’t justify funding businesses in. No matter how special your business might be, if it falls into one of these blacklisted industries, you’ll have a tough time finding the business financing you need to grow.
Fundera
AUGUST 22, 2016
Café de Leche from INCREDODAMN on Vimeo. Anya and Matt Schodorf thought they knew their neighbors. Then they opened Café de Leche—and realized just how powerfully a small business connects you to your community. Anya and Matt lived in Highland Park, Los Angeles, for years before opening their coffee shop. Their timing was less than perfect: the recession hit just as Café de Leche opened for business, a time when many Americans were steering clear of small indulgences like lattes.
Fundera
AUGUST 19, 2016
In many ways, running a business is like riding a rollercoaster. There are ups and downs, unexpected turns, and—for some of us—really bad hair days. When you run a seasonal business that ride goes from Disney’s It’s a Small World to Six Flags’ Medusa. In other words, when you’re running a small business, every little thing can get exaggerated.
Fundera
AUGUST 24, 2016
Whether you’re a new small business owner who recently received a round of financing or an experienced entrepreneur who’s had steady success, cost-cutting might not be at the top of your list of items to tackle. However, saving money should always be a concern, since every dollar you save is one more that can be put toward your bottom line.
Fundera
AUGUST 24, 2016
How many industries has technology fundamentally changed in the past few decades? Let’s rattle off a few: travel, print, media, television, retail, hospitality, shipping, manufacturing, education… The list goes on and on. And thanks to the introduction of online alternative lending, here’s another industry to add to the list: small business lending.
Fundera
AUGUST 3, 2016
Amazon. It’s the e-commerce giant that virtually everyone knows, and we’re willing to bet, has used to sell or buy any product imaginable. Amazon seems to have a hand in every business out there—books, electronics, entertainment, food, apparel, furniture… The list goes on and on. And in 2012, Amazon added yet another service to their list: small business loans through the Amazon Lending program.
Fundera
AUGUST 1, 2016
The world of small business financing can be a confusing one. With so many terms and calculations, it can be tough to keep everything straight. And we don’t blame you—just because you own a small business doesn’t mean you’re a business financing genius. One of the most crucial—and confusing—steps to getting the right financing is understanding your contract.
Fundera
AUGUST 10, 2016
Having a business credit card at your disposal is a no-brainer for any small business owner. But we’re the first to admit it: knowing which credit card is right for your small business isn’t so simple. There are a lot of options out there, and sadly, there isn’t a “catch-all” card for every business owner. Instead, the credit card you use will depend on the type of small business you run.
Fundera
AUGUST 4, 2016
The world of small business accounting is filled with acronyms : FICO score. DSCR. LTV ratio. EBITDA coverage ratio. But don’t stress out—we’re here to talk about that last one. When you’re applying for a business loan, you’ll probably run across the words “EBITDA coverage ratio” more than once. This ratio is a key indicator of the financial health of your business, and having a low one strongly correlates with default.
Fundera
AUGUST 2, 2016
Any small business worth its salt already has a website, where people can find out how to get in touch or where to order your product. But while getting visitors to check out a web page is hard enough, converting that visitor into a lead or sale is an incredibly tough nut to crack. That’s where the call-to-action—in the form of buttons, banners, and sliders, among other graphics—comes in.
Fundera
AUGUST 23, 2016
When people go shopping for household staples, they want a deal. When they enter an antique shop, they want a story. That’s something that Nicholas Hess, the owner of The Printer’s Cabinet & Curiosities in Oil City, PA (as well as an ongoing pop-up store New York City), knows well. His eye for color, pattern, form, and function is matched by his understanding that the context of an antique item sometimes matters as much as the item itself.
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