Abrigo
APRIL 15, 2020
Key Takeaways Lenders participating in the Paycheck Protection Program (PPP) have obligations after issuing the loan to a small business. Banks and credit unions are seeking guidance on these critical next stages of the PPP. Lenders have had concerns about closing PPP loans, an action that triggers required funding and the forgiveness timeframe for borrowers.
Fundera
APRIL 16, 2020
Small businesses impacted by the coronavirus pandemic were able to start applying for Paycheck Protection Program loans from the federal government on April 3, 2020. Less than two weeks later, all of the funding allocated for the program is gone, as lenders submitted more than 1 million applications for financial relief to the SBA on behalf of their small business customers. .
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GoCardless
APRIL 17, 2020
See what the providers of global market intelligence found in their study.
Abrigo
APRIL 14, 2020
Key Takeaways The Federal Reserve recently unveiled a new loan-purchase program, the Main Street Lending Program (MSLP) Unlike the PPP, loans provided under the MSLP are not eligible for loan forgiveness Community financial institutions play an important role in the MSLP. While community financial institutions have been focused on the Small Business Administration’s Paycheck Protection Program (PPP), the Federal Reserve recently unveiled a new loan-purchase program, the Main Street Lending Progr
Abrigo
APRIL 14, 2020
Key Takeaways FinCEN issued an update of their joint FAQs to address beneficial ownership requirements for PPP loans. Institutions do not need to re-verify beneficial ownership info for existing customers. Beneficial ownership information must be collected for new customers. . On April 13, 2020, FinCEN issued an update of their joint FAQs with the Small Business Administration (SBA) regarding the implementation of the Paycheck Protection Program (PPP) which was established by the Coronavirus Aid
Abrigo
APRIL 14, 2020
Key Takeaways The current financial crisis finds strong financial institutions and borrowers adapting to a sudden change in overall economic activity tied to the coronavirus pandemic. Nevertheless, bankers should be proactive in monitoring and planning for liquidity impacts. Internal plans should document credit concerns and assess current liquidity.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Fundera
APRIL 17, 2020
Both Weebly and Wix deliver a full suite of user-friendly business website design and management tools in an all-in-one service. At first glance, comparing Weebly vs. Wix uncovers many similarities. Both provide everything you need to quickly build a website and each delivers a bevy of business-specific website designs and features. . However, notable differences pop up on closer inspection.
Fundera
APRIL 16, 2020
Ready to build a website for your existing business, or looking to launch a new ecommerce enterprise ? You’ve no doubt run across the names Wix and WordPress. Both are top-rated website platforms powering millions of businesses worldwide. However, a head-to-head Wix vs. WordPress match-up uncovers many differences between the two. Which is best depends on your particular business needs.
Fundera
APRIL 16, 2020
How to Fill out SBA Form 1919 in 7 Steps. Fill in the identifying business information in Section I. Complete questions 1 through 11 in Section I. Complete questions 12 through 16 in Section I. Review Section I and sign and date at the bottom of page 3 of the form. Fill in the identifying personal information in Section II. Complete questions 17 through 26 in Section II.
Fundera
APRIL 15, 2020
Online lending has made it easier than ever for business owners to apply and qualify for business financing. But with more and more online lending platforms appearing all the time—some more trustworthy than others—it’s so important to evaluate each platform’s offerings and reputation. SnapCap vs. Kabbage are just two of the many online lenders on which you need to do your due diligence.
Fundera
APRIL 14, 2020
No business is perfect. Despite your best efforts, you’ll likely need to send an apology email to your customers at some point. Perhaps your products arrived damaged, you missed a deadline or two, or you didn’t respond to a customer’s concerns as well as you could have. . It happens! It’s never too late to apologize for your mistakes. There isn’t one correct way to apologize, but there are many wrong ways to do so.
Fundera
APRIL 14, 2020
Issuing 1099s to your vendors each year is an essential business accounting task. If you fail to do so—or fail to do so correctly—your business could be on the hook for hefty penalties. Fortunately, if you use QuickBooks Online to manage your accounting operations, this—like many other accounting tasks —will be incredibly simple. In fact, this once-onerous task can be completed in just a few hours each year once you understand how to print 1099s in QuickBooks Online.
Fundera
APRIL 11, 2020
When you’re starting an ecommerce business, one of the most important decisions you’ll make is which platform or software you’ll use to create and manage your online store. Luckily, with the growth of the ecommerce industry, there are more options than ever—from all-in-one hosted platforms, like Shopify or BigCommerce, to open-source options like Magento or WooCommerce.
Fundera
APRIL 13, 2020
When you’re opening a restaurant , finding the right location is a lot of work, but it’s crucial to your success, growth, and notoriety. Once you’ve picked your spot, you’ll want to know how to negotiate a restaurant lease to see if you have any wiggle room on fees. Negotiating your restaurant lease is both a question of being cost-conscious, but also getting yourself in the best situation to succeed.
GoCardless
APRIL 16, 2020
5 steps to take from immediate action to building long term resilience.
GoCardless
APRIL 16, 2020
Explore common mistakes to avoid when setting up a business bank account.
GoCardless
APRIL 15, 2020
What are the most effective methods of solving cash flow problems?
GoCardless
APRIL 14, 2020
We break down exactly how to do a cash flow forecast, and more.
GoCardless
APRIL 14, 2020
Want to know how to do a profit and loss forecast? Read on.
GoCardless
APRIL 15, 2020
Our guide to reducing overhead costs in small businesses.
Fundera
APRIL 17, 2020
They say that life is about the journey, not the destination—and many seasoned entrepreneurs will tell you the same goes for starting a business. As a business owner, you might recall the (quite literal) blood, sweat, and tears that went into turning your great idea into a booming business. . While there may have been long nights where you questioned your sanity for letting yourself start a business in the first place, hopefully you’ve been able to look back on the experience and appreciate just
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