Fundera

SEPTEMBER 15, 2020

Benefits of Getting an EIN. File Business Taxes and Avoid Tax Penalties. Prevent Identity Theft. Add Credibility as a Freelancer and Independent Contractor. Speed up Business Loan Applications. Open a Business Bank Account. Build Trust With Vendors. Establish Business Credit. Easily Hire Employees. Get More Options as an Overseas Entrepreneur. An employer identification number (EIN), or business tax ID, is a unique nine-digit number that you use when filing taxes for your business.

Deductions 130

Deductions Small Businesses Bankruptcy Credit Scoring 130

Abrigo

SEPTEMBER 2, 2020

Key Takeaways With more customers leveraging channels like online and mobile banking, community financial institutions are trying to solve how to maintain their hallmark community focus in an increasingly digital world. Technology can create efficiencies that allow them to reimagine customer interactions moving forward. The PPP might have been the first time many community financial institutions saw such clear returns on digitization investments, but the same automation and efficiency gains can

Credit Unions 103

Credit Unions Credit Risk 103

StackSource

SEPTEMBER 13, 2020

How a first time commercial real estate investor can get approved for a commercial mortgage. Hint: it's not the same underwriting as residential mortgage loans!

52

52

GoCardless

SEPTEMBER 16, 2020

Salesforce customers now benefit from the GoCardless global bank debit network.

52

52

Fundera

SEPTEMBER 8, 2020

Top 10 Fall Marketing Ideas. Fall-Specific Content Marketing. Fall Contests and Giveaways. Get Your Business in the Fall Spirit. Create Special Fall Products or Services. Fall-Themed Direct Mail Campaign. Infuse Fall Energy Into Your Social Media Channels. Launch a Thanksgiving Charity Initiative. Put a Fall Spin on Your Loyalty Program. Cross-Promote With Fall in Mind.

Small Businesses 119

Small Businesses Accounting Firms 119

Fundera

SEPTEMBER 8, 2020

Service Business Ideas: The Top 15. Personal fitness trainer. Grocery shopping and delivery. Makeup artist. Doula and birth coaching services. Private school application consultant. Elder companion and care provider. Pet sitting. Handyman service. Mobile car-wash and detailing. Virtual assistant. Graphic designer. IT systems consultant. Mobile notary public.

Small Businesses 119

Small Businesses 119

Fundera

SEPTEMBER 29, 2020

What Is Year-Over-Year Growth? Year-over-year (YOY) growth evaluates a company’s financial progress over time. With the year-over-year growth formula, you and your investors can compare two metrics within a given time period, such as revenue over a yearly, quarterly, or monthly basis. Every small business owner wants to know how their business is doing over time.

Small Businesses 105

Small Businesses 105

Fundera

SEPTEMBER 24, 2020

Burn rate is one of the most important metrics you can know for your business. Unfortunately, many small business owners don’t understand what burn rate is or how to calculate it. Burn rate isn’t a metric your accounting software will calculate for you directly, but by using your financial statements, you can calculate it easily. In this article, we’ll take a closer look at burn rate, discuss why it’s essential, and show you exactly how to calculate this vital metric.

Small Businesses 100

Small Businesses 100

Fundera

SEPTEMBER 30, 2020

There are a variety of inherent risks associated with running a business—which is why it’s so important to have adequate small business insurance. Of course, the specific types of insurance you need will depend on what your business does, where you operate, your industry, and more. If you have physical business assets, however, you’ll certainly want to consider investing in commercial property insurance to protect those assets from damage, theft, and loss.

Insurance Companies 98

Insurance Companies Deductions Small Businesses 98

Fundera

SEPTEMBER 30, 2020

Many small business owners are expected to do everything themselves. Those duties include everything from hiring employees and running payroll to filing taxes and everything in between. While some aspects of running a business don’t need to be done perfectly, others—like complying with labor laws—must be done correctly. Between various state and federal laws, there’s a lot for a small business owner to know about labor laws.

Small Businesses 98

Small Businesses Default 98

Fundera

SEPTEMBER 29, 2020

What Is the Collateral Coverage Ratio? The collateral coverage ratio is the percentage of a loan that’s secured by a discounted asset. This ratio is calculated by the collateral coverage ratio formula, which is the discounted collateral value divided by the total loan amount. The lower the ratio, the higher the risk for lenders; the higher the ratio, the lower the risk for lenders.

Default 98

Default Small Businesses 98

Fundera

SEPTEMBER 23, 2020

The world of selling goods online goes far beyond Amazon, eBay, Shopify, Etsy, and other brand names that might come to mind. Both Alibaba and AliExpress, once considered online shopping behemoths specific to the Asian market, have become global forces for ecommerce that rival Western-born competitors across most industries. Many people may not know the difference between Alibaba vs.

Transactions 98

Transactions Small Businesses 98

Fundera

SEPTEMBER 26, 2020

You’re familiar with the process of voiding paper checks. Writing “VOID” on a check—whether you’ve made an error writing the check or because you need to submit a voided check for electronic payment purposes—indicates the check is no longer valid to use for payment. This gives you some level of protection from fraud. However, there’s another step you must follow when you void a check.

Dashboards 98

Dashboards Transactions 98

Fundera

SEPTEMBER 21, 2020

Best Budget Software for Small Businesses. QuickBooks Online : Best for overall functionality. Xero : Best for advanced features. FreshBooks : Best for basic budgeting. PlanGuru : Best for forecasting. Float : Best for cash flow management. Budget Maestro : Best for collaboration. Adaptive Planning : Best for bigger businesses. Online business budget software is a must-have for many businesses, freelancers, and accounting professionals looking to automate their business financial tasks.

Dashboards 98

Dashboards Small Businesses 98

Fundera

SEPTEMBER 20, 2020

7 Grants for Small Businesses in Illinois. Neighborhood Opportunity Fund. South Side Pitch. Metro East Startup Challenge. City of Urbana Business Grants. Feed the Seed Business Grants. Amber Grant for Women. Illinois GrantWatch. Finding working capital to help start or run a business in Illinois can be complicated, especially when you’re looking into small business grants.

Small Businesses 98

Small Businesses 98

Fundera

SEPTEMBER 18, 2020

When you first started your business , you likely didn’t consider that one day you might need to downsize. Unfortunately, the coronavirus pandemic has forced many business owners to downsize their workforce just to stay afloat. Workforce cuts like this have left over 58 million Americans filing for unemployment. [1]. Besides this specific event, companies downsize for a number of reasons and at various times.

Small Businesses 98

Small Businesses 98

Fundera

SEPTEMBER 17, 2020

It’s not easy to figure out which business bank account might be best for your business, or even where to begin looking. If you’re an active military member or veteran, or a Department of Defense employee, you’re probably curious about what Navy Federal Business accounts offer. After all, credit unions offer tons of perks that commercial banks don’t.

Credit Unions 98

Credit Unions Transactions Small Businesses 98

Fundera

SEPTEMBER 16, 2020

Founded in 2001, LawDepot is an online legal service aimed at providing every possible document you will need to not only start your business, but also continue to manage it for years to come. They offer over 150 document templates for use in all 50 states, but are they right for your business? In this LawDepot review, we’ll explore the features, cost, pros, cons, and alternatives to consider.

Small Businesses 98

Small Businesses 98

Fundera

SEPTEMBER 19, 2020

When you’re starting a business , you might be wearing multiple hats. You’re answering emails, onboarding clients, managing projects, and doing the bookkeeping. With your plate stacked high with tasks demanding your attention, you’re bound to feel overwhelmed. Instead of just wishing for someone to help keep the order, you can hire virtual assistants to free your plate of administrative tasks and odd jobs.

Small Businesses 98

Small Businesses 98

Fundera

SEPTEMBER 11, 2020

Despite how frequently people connect over email and social media, business cards are still the quickest, simplest way to exchange contact information. When you’re starting a business, networking with the right people is essential to growth, which is why it’s worth having business cards on-hand when you attend a networking event or meet with a potential client.

Small Businesses 98

Small Businesses 98

Fundera

SEPTEMBER 22, 2020

6 Grants for Small Businesses in Michigan. Match on Main. Moving Flint Forward Small Business Grant Program. Hatch Detroit. Emerge Fund. Michigan GrantWatch. Amber Grant for Women. Known for its natural beauty and proximity to the Great Lakes, Michigan is a beautiful state, and home to over 800,000 small businesses. [1] But owning or starting your own small business means finding ways to sustain your cash flow and business operations.

Small Businesses 98

Small Businesses Nonprofit Organizations 98

Fundera

SEPTEMBER 17, 2020

Finding an easy way to manage and streamline your payroll is a concern shared among top small businesses across the country. When choosing payroll software for your small business , you must take features, cost, and usability into account. While there are many affordable payroll solutions on the market, not all small or new businesses have the budget to pay for payroll software.

Small Businesses 96

Small Businesses 96

Fundera

SEPTEMBER 4, 2020

5 Best Free Property Management Software in 2020. TenantCloud. Rentec Direct. Innago. Cozy. Hunt. If you manage a rental property , you probably already know that it can be a lot of work. Tending to home maintenance, balancing the books, and tackling marketing tasks can easily keep you busy. It’s little wonder that 88% of landlords say that renting out properties brings on some degree of stress, according to a survey conducted by home remodeling site Porch.com.

Credit and Collections 95

Credit and Collections 95

Abrigo

SEPTEMBER 23, 2020

Key Takeaways Managing a large volume of loan workouts is the next challenge facing many financial institutions. Managing loan workouts requires tackling numerous process-related decisions concerning selecting, analyzing, and tracking loans. It's also wise to review the process for segmenting loans for allowance estimations, since even loans that aren't labeled as TDRs might not retain their current credit risk profiles.

Credit Risk 78

Credit Risk Credit Unions CECL 78

Abrigo

SEPTEMBER 21, 2020

Key Takeaways Financial institution executives wondering about changes in their market value premiums might need to look at the assumption used for modeling deposit servicing costs. Some ALM models rely on cost of servicing assumptions that haven't been updated in years. Ideally, have your own cost of servicing data, but if not, here's a basic formula that might generate more meaningful discussion with your board and ALCO.

Default 78

Default Transactions 78

Abrigo

SEPTEMBER 18, 2020

Key Takeaways FinCEN has released three COVID-19-related advisories that remind financial institutions to stay alert to increasing fraud trends. Imposter scams, money mule scams, and cybercrime are all increasing due to a growing vulnerable population. Adjust your scenario thresholds and ensure your front line staff is aware of these fraud red flags to help detect and deter COVID-19-related fraud.

Electronic Funds Transfer 78

Electronic Funds Transfer Cybersecurity Transactions Credit Risk 78

Abrigo

SEPTEMBER 16, 2020

Key Takeaways A good asset/liability management (ALM) model has a wealth of information and tools that can be used in the budgeting process. An ALM model can help budgeters consider the impacts of the pandemic on balance sheets and strategies. The what-if scenarios available in an ALM model help you weigh options in budgetary decisions. Budgeting? Don't forget your ALM model as a resource.

CECL 78

CECL Credit Unions Default 78

Abrigo

SEPTEMBER 16, 2020

Key Takeaways A good asset/liability management (ALM) model has a wealth of information and tools that can be used in the budgeting process. An ALM model can help budgeters consider the impacts of the pandemic on balance sheets and strategies. The what-if scenarios available in an ALM model help you weigh options in budgetary decisions. Budgeting? Don't forget your ALM model as a resource.

CECL 78

CECL Credit Unions Default 78

Abrigo

SEPTEMBER 14, 2020

Key Takeaways ALM professionals often inquire about reports they can run using their ALM models to help manage their financial institutions. It's a good question, because the impact of changes are often hard to discern in the short term -- the focus of our typical reports. Set up these ALM model reports once and run them monthly as needed. What kind of reports can your ALM model provide?

Credit Unions 78

Credit Unions Credit and Collections 78

Abrigo

SEPTEMBER 14, 2020

Key Takeaways ALM professionals often inquire about reports they can run using their ALM models to help manage their financial institutions. It's a good question, because the impact of changes are often hard to discern in the short term -- the focus of our typical reports. Set up these ALM model reports once and run them monthly as needed. What kind of reports can your ALM model provide?

Credit Unions 78

Credit Unions Credit and Collections 78