Fundera
MARCH 27, 2020
Thanks to a number of key factors, including a variety of technological advances, the past few years have seen a steady increase in the number of companies allowing their employees to work remotely. . In fact, over 3.7 million employees work from home at least half the time, and according to a 2018 survey conducted by Upwork , 63% of all companies employed remote workers.
Abrigo
MARCH 27, 2020
Key Takeaways Three out of four bankers expect a recession will last at least two quarters Economic uncertainty has shifted questions regarding estimating the allowance for credit losses under CECL Managing troubled loans and liquidity top bankers' list of concerns. Although it’s still early, bankers have started to make their own assumptions about the impact the coronavirus pandemic will have on the economy and their institutions.
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GoCardless
MARCH 27, 2020
A new feature makes it easier to pause multiple customer subscriptions.
Pactola
MARCH 23, 2020
We are hosting a free Webinar on Credit Management in the COVID-19 Virus. We will hold this on Thursday, March 26, 2020 at 10:30 CDT, 9:30 MDT. Our goal is to provide some ideas as you reach out to your borrowers in this challenging time. To attend, go at [link] The dial in number is 863-208-0120 and the attendee pin is 243 7669#. The COVID-19 virus situation has created a huge challenge for us, but this has also presented an opportunity we would not see in normal times for true leadership in ou
Fundera
MARCH 23, 2020
Small businesses are dealing with unprecedented struggles in the wake of the coronavirus outbreak. Never before have so many small businesses had to deal with a sudden cash crunch of this scale at the same time. This is no ordinary downturn in the market, after all. . Many businesses, due to a loss in revenue from government restrictions or loss of foot traffic, will have a hard time making payments to the various suppliers, vendors, credit card companies, and lenders that help keep their ventur
Abrigo
MARCH 26, 2020
Key Takeaways The Fed will temporarily suspend exams for banks with less than $100 billion in assets. Banks over $100 billion in assets will have some exam activity deferred. The Fed extended time for existing remediation responses by 90 days. The Federal Reserve (Fed) announced on March 24 that they will temporarily suspend examinations for banks with less than $100 billion in assets so all can concentrate on the coronavirus pandemic, to “help financial institutions of all sizes understand the
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Abrigo
MARCH 25, 2020
Key Takeaways Financial institutions have an opportunity to participate in a huge expansion of SBA lending programs under a stimulus package expected to be voted on by the Senate. The new loan program would lift certain requirements for borrowers, such as those related to personal guarantees and collateral. Maximum amounts for SBA Express Loans would increase to $1 million.
Fundera
MARCH 24, 2020
Many Americans from all walks of life are looking for guidance and help in the wake of the coronavirus outbreak. Small business owners in particular, whose entire lives and livelihoods have likely been upended due to the pandemic, need economic and logistical help during this time. . That’s because one in three small businesses don’t have a rainy day fund to help deal with emergency expenses , according to the U.S.
Fundera
MARCH 25, 2020
Congress has hammered out the details of the third and largest coronavirus pandemic response bill to date. The $2 trillion coronavirus aid bill, (also known as HR 748/the “CARES” Act) provides economic support for a wide swath of Americans, small businesses, hospitals, and some struggling sectors of the economy. . The impact of the novel coronavirus on small businesses has been devastating, as many businesses have been forced to close or restrict their hours, and are unable to make e
Abrigo
MARCH 25, 2020
Key Takeaways Banking regulators say short-term, COVID-19-related loan modifications shouldn't automatically be categorized as TDRs. FASB affirmed this guidance for borrowers who were current prior to relief. The guidance makes it more palatable for institutions seeking to help borrowers affected by the coronavirus crisis. Regulators also announced other guidance tied to reporting and risk-based capital rules.
Abrigo
MARCH 24, 2020
Key Takeaways We can learn about potential fraud from previous cases such as Italy. Fraudsters capitalized on vulnerabilities from shifts in daily life due to coronavirus. Organizations must learn from the lessons learned in Italy to protect themselves from cybercrime. . Around the world, public health officials are analyzing the coronavirus (COVID-19) transmission in countries with earlier outbreaks in an effort to model scenarios, refine preparations, and identify mismanagement and best practi
Fundera
MARCH 24, 2020
What Is the SBA 8(a) Program? The SBA 8(a) program helps socially and economically disadvantaged small businesses secure government contracts. To qualify, a business must meet the SBA’s definition of a “small business” and be at least 51% owned and controlled by economically and socially disadvantaged individuals, among other factors. If you are accepted into the program, your SBA 8(a) certification will last for a maximum of nine years, during which time you will complete annual reviews to main
Fundera
MARCH 23, 2020
There are a lot of different steps that you have to follow when starting a business. While some of these steps are optional or can be put off until after you’re up and running, others are necessary before you can open your doors. . If you’re starting a retail business , you’ll need a retail business license to operate legally. Without it, you could face fines or penalties, depending on your state and local laws. .
Fundera
MARCH 23, 2020
Poynt Smart Terminal. Poynt’s flagship product, the Poynt Smart Terminal, is a credit card terminal with a lot of flexibility. It boasts a touch-screen and user-facing display, receipt printer, and the ability to accept magstripe, chip card, NFC, and QR code payments. There’s also a set of apps that can give your credit card terminal POS functionality.
Fundera
MARCH 22, 2020
For business owners, few things are more important than paying your employees on time and correctly. To help you stay on top of payroll, free up your time, and reduce the likelihood of error, you may want to consider payroll software. Payroll software automates the process of paying your employees. Plus, most systems also offer other HR-related tools, as well.
Fundera
MARCH 21, 2020
As a small business owner, you likely offer your employees a number of fringe benefits , including vacation, or personal days, but you’ll also want to be aware of the different laws surrounding other types of time off, the rules of which are not up to you. . Depending on your location, your state might have paid family leave laws, paid sick leave laws, or both.
GoCardless
MARCH 26, 2020
Find out how to make an annual operating plan with our simple guide.
GoCardless
MARCH 26, 2020
Learn how to calculate your business’s weighted average cost of capital.
GoCardless
MARCH 26, 2020
Calculating NPV? Here’s our net present value formula.
GoCardless
MARCH 26, 2020
Get the lowdown on MRR for SaaS businesses with our comprehensive guide.
Fundera
MARCH 26, 2020
Small businesses face many challenges, including having to compete with larger organizations and the cheaper prices and free or low-cost shipping options they often offer their customers. In fact, even among larger businesses, many are struggling to compete with Amazon and their free shipping options—some of which deliver as quickly as same-day. Whether you’re just starting a business or are looking for ways to boost your sales, you’ve likely considered how to offer free shipping and whether you
Fundera
MARCH 25, 2020
How to Write a Bakery Business Plan in 8 Steps. Write a company overview. Run a market analysis. Describe your organizational structure. List the products you plan to offer. Draft a marketing plan. Think about finances. Create an appendix. Write your executive summary. Not knowing what the future will bring is one of the most stressful parts of starting a new business.
Fundera
MARCH 24, 2020
Just about anyone in the world recognizes the iconic golden arches that signal a nearby McDonald’s. The fast-food institution has certainly set the standard for branding and marketing in the industry, building a loyal customer base around the globe in the process. Whether you love their menu items or the comfort of knowing you can find one nearly anywhere you go, it’s safe to say McDonald’s is one of the most well-known franchises around.
Fundera
MARCH 21, 2020
Weebly vs. Squarespace: Which Is Better for Your Business? Weebly is a great budget option for small business owners, as it allows newcomers to the ecommerce space to build a website quickly and at no cost whatsoever. Squarespace is best for businesses looking for a highly professional-looking website that can represent their brand well. Both Weebly and Squarespace are comparable when it comes to features and ecommerce tools.
Fundera
MARCH 22, 2020
In a matter of weeks, COVID-19, also known as the coronavirus , has dramatically changed how we live. Businesses around the world—both large and small—are adapting to new challenges every day, and the vast majority of the workforce has suddenly found themselves working from home for the foreseeable future. . While millions of people were working remotel y (at least part of the time) prior to this shift, it’s still a big adjustment for most.
Abrigo
MARCH 23, 2020
Key Takeaways. There has been an uptick in phishing scams in Europe and North America related to the coronavirus. Assets available on the dark web include a real-time heatmap of COVID-19 cases. Educate your employees and stakeholders to stay protected. Having a cohesive business continuity plan (BCP) is part of the essential documents for most businesses.
Abrigo
MARCH 27, 2020
Key Takeaways Albania, Barbados, Nicaragua among the countries added to the FATF watchlist. Trinidad and Tobago is removed from the FATF list. Iran and the DPRK are kept on the watchlist. W ith all of the disruptions in normal life during the coronavirus p andemic, AML professionals advisories and updates can get lost in the shuffle. On March 26, 2020 FinCEN issued an advisory referencing the February 2 1 , 201 9 Financial Action Task Force (FATF) publication (available here
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