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How Do they Do that? Instant Loan Decisioning Explained
February 2, 2021Automated loan origination software helps banks and credit unions make near-instant decisions about small business loans. Here’s how it works. How Banks and Credit Unions Can Use Automation to Streamline Loan Origination Today’s unprecedented market pressures are forcing banks and credit unions to change the way they make loan decisions. Small and midsized businesses (SMBs) urgently …
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The SBA’s New PPP Interim Final Rules: What Lenders Should Know
January 8, 2021The SBA’s New PPP Interim Final Rules: What Lenders Should Know When the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act, (Economic Aid Act or EAA), passed on December 27th, 2020 as part of the government spending package, the legislation specified that the SBA had to give guidance within ten days of enactment …
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Top 7 Things to Consider When Choosing a Business Lending Platform
October 7, 2020Finding the right business lending platform for your financial institution can be a grueling process — but it can be made easier if you know what makes for a good platform. Here’s why looking into a business lending platform might make sense for your financial institution, and the 7 key criteria to keep in mind. …
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Think You Know Who’s Disrupting the $1.4 Trillion Business Lending Market? It’s Not Who You’d Guess
September 30, 2020A small New York financial technology firm is poised to change the way financial institutions lend money to businesses, forever. This game-changing tech company has big ideas that are transforming the very essence of business lending. The COVID-19 pandemic has exposed a number of weaknesses and inefficiencies inherent to the traditional model of business lending. …
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How Banks and Credit Unions Can Be Ready for PPP Loan Forgiveness
July 18, 2020Bank and Credit Union FAQs and 3 Tips for Success Banks and credit unions face new challenges of scale including efficient client relations, know your customer (KYC),distribution of funds and servicingloansall brought on by the Paycheck Protection Program (PPP). The PPP Loan program has involved more SBA-backed loans in just over twomonths than the SBA …
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Definitive Guide to a Business Bank Account
June 20, 2020When small business owners are ready to start accepting payments and spending money as part of their company, one of the first priorities should be to open a bank account dedicated for the new business. Opening a business bank account is a prerequisite for
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What are the Most Important Questions to Ask Your Accountant for Tax Season?
June 20, 2020Working with an accountant should be a year-round pursuit, not just before tax-reporting season. While filing taxes is important, almost all of your company’s financial transactions occur in all the other months.
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First Things First: What is Annual Percentage Rate APR?
June 20, 2020Digital marketing is a must for any 21st century business, however, it may not seem like it’s as useful when it comes to car buying. One area in particular where digital marketing is sometimes overlooked is the car dealership business.
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Do I Need Financial Reporting Software for my Company?
June 20, 2020If you think financial reporting software is only for large companies, think again! Numbers do not lie. Financial reporting can answer all the vital inquiries in business management. After all, finances generated from
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Top Strategies for Car Dealership Marketing in 2020
June 20, 2020Digital marketing is a must for any 21st century business, however, it may not seem like it’s as useful when it comes to car buying. One area in particular where digital marketing is sometimes overlooked is the car dealership business.
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Do I Need Financial Reporting Software for my Company?
June 20, 2020If you think financial reporting software is only for large companies, think again! Numbers do not lie. Financial reporting can answer all the vital inquiries in business management. After all, finances generated from
Articles
How Does Double Taxation Work?
June 20, 2020Think about it like this: In certain types of businesses, income will be taxed for both the business and the owner. In a C Corporation, revenues of $100,000 will be taxed for that money and anything the owner takes home as a dividend will be taxed again.
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Biz2X Launches Accelerate SBA
April 14, 2019Biz2X Launches ‘Accelerate SBA’ for Banks to Start Lending via CARES Act The United States Congress has passed the CARES Act to combat the financial strain caused by the novel coronavirus (COVID-19). President Trump has signed into law an unprecedented $2.2 trillion economic stimulus plan. $350 billion is earmarked for small businesses in the form …