PYMNTS

FEBRUARY 20, 2020

As Open Banking spreads further into the small business (SMB) financial services market, accounting and lending platforms are taking advantage. If FinTech firms don’t agree, JPMorgan will bar them from accessing the information, reports said, as well as screen-scraping tools. FreshBooks Inks Tax Integration Deal.

Lending 217

Lending Taxes Fintech Data 217

PYMNTS

MAY 1, 2020

Small businesses fortunate enough to get their Paycheck Protection Program (PPP) loans forgiven will forfeit some tax breaks, according to new rules from the Internal Revenue Service (IRS). . This treatment prevents a double tax benefit,” the agency said in the notice. This conclusion is consistent with prior guidance of the IRS.”.

Taxes 175

Taxes Regulation Company Report 175

Abrigo

FEBRUARY 27, 2020

Key Takeaways Financial institutions who want to maintain a healthy share of business lending this year and through potentially tougher economic times ahead want to be in the best position possible before trouble hits. Abrigo's Business Lending Readiness Survey found many processes stymie those efforts. learn more.

Lending 243

Lending Survey Data System 243

PYMNTS

DECEMBER 27, 2020

PayPal has dropped its bid to acquire bitcoin wallet purveyor BitGo but remains interested in investing in the cryptocurrency space, Fortune reported. At the time, according to Bloomberg in a contemporaneous report, proponents of a deal were suggesting such a move would help PayPal grow in the digital coin realm.

Report 245

Report cryptocurrency Bitcoin Taxes 245

Gonzobanker

FEBRUARY 22, 2024

For bankers to be successful in the small business lending market, they need to execute on several key tenets: strategy, people, process and technology. Another key player for successful small business banks is the vice president of business lending, who manages the relationship managers and reports to the chief lending officer.

Lending 78

Lending Community Bank Community Strategy 78

PYMNTS

APRIL 16, 2019

Alternative small business lending platform Funding Options has criticized U.K. tax authorities’ approach to small businesses that fall behind on tax payments. The tax authority applied to close 4,160 businesses last year, reports noted. That’s an 11.5 That’s an 11.5

Taxes 108

Taxes Payments Phoenix Regulation 108

Abrigo

NOVEMBER 17, 2023

How to close more loans by speeding up lending and credit analysis Seeking a quicker loan origination workflow is worth it. Takeaway 3 Many aspects of traditional lending that slow down the loan origination process can be addressed through expanded automation. Learn where to find opportunities for improvement.

Lending 221

Lending Software System Taxes 221

Abrigo

FEBRUARY 7, 2020

This morning’s Employment Situation report from the Bureau of Labor Statistics showed decent strength in labor markets. The post A Strong January Employment Report appeared first on Abrigo. In January, there were 225,000 new jobs added, significantly higher than the 161,000 jobs predicted.

Report 195

Report Taxes Data Marketing 195

PYMNTS

APRIL 28, 2020

The Federal Reserve is nearly ready to debut its new Main Street lending program, and it is reaching out to banks for advice, according to a report from CNBC. Rather than focusing on its usual goals of stabilizing the economy and keeping employment rates high, it is now looking at lending directly to companies.

Maine 184

Maine Lending Taxes Industry 184

Abrigo

NOVEMBER 6, 2019

Small Business Loans | 5 minute read Key Takeaways Credit unions' small business loans hit a record low, while small business lending continues to remain strong at big banks and community banks. Going digital can help reduce the cost of small business lending and capture more member business loans. Talk to an expert.

Lending 150

Lending How To Community Community Bank 150

PYMNTS

MARCH 15, 2019

Some of the largest global financial institutions are taking steps further into Mexico’s small business lending and finance space, the result of heightened competitive pressure imposed by FinTechs and alternative lenders in the market, reports in the Wall Street Journal said Thursday (March 14).

Lending 189

Lending Fintech National Taxes 189

PYMNTS

MAY 7, 2018

China introduced new tax initiatives aimed at bolstering the nation’s entrepreneurs, according to local news reports on Friday (May 4). Vice finance minister Cheng Lihua introduced seven new tax policies during a press conference Friday, with the goal of saving small businesses $9.45

Taxes 100

Taxes Policies Conference Training 100

Abrigo

JANUARY 29, 2020

Key Takeaways The FDIC issued an advisory to FIs encouraging safe and sound lending practices in today's ag lending environment. FDIC) issued an advisory to financial institutions encouraging exceptionally safe and sound lending practices in agricultural lending.

Lending 195

Lending How To FDIC Survey 195

Banking Exchange

OCTOBER 18, 2021

Joint letter is part of regulatory body’s push to reject proposal Compliance People Fair Lending Compliance Management Compliance/Regulatory Feature3 Feature Duties.

Taxes 78

Taxes Groups Compliance Report 78

PYMNTS

APRIL 16, 2018

India’s YES BANK is tapping into tax data to expand small business (SMB) lending. Reports in MENAFN on Friday (April 13) said the company plans to offer loans to micro, small and medium-sized businesses based on their Goods and Services Tax (GST) returns.

Taxes 108

Taxes Data Lending Analysis 108

PYMNTS

MARCH 19, 2020

The acceleration of economic effects of the coronavirus has Britain’s Association of Corporate Treasurers (ACT) asking the banks to speed up the flow of credits to companies, according to a Reuters report. ACT said the banks’ program to lend directly to large businesses should be extended to include smaller firms.

Lending 141

Lending Taxes Capital Report 141

PYMNTS

JANUARY 5, 2020

India’s state-owned banks are going through changes that could mean an overhaul in business lending, The Economic Times (ET) reported on Friday (Jan. India’s biggest lender, the State Bank of India (SBI) , is now considering a move to a cash-flow-based lending model from the current asset-based model.

Lending 130

Lending Capital National Taxes 130

Abrigo

AUGUST 28, 2019

Slow lending decisions and frustrating loan application processes are among borrowers’ biggest gripes with traditional financial institutions vs competitors such as online or alternative lenders. Importantly, the borrower can upload financial statements and tax returns from home or the office.

Lending 150

Lending Analysis Taxes Data 150

PYMNTS

JANUARY 25, 2017

small businesses owe millions in VAT bills, a new report from Funding Options said. The marketplace lending platform said Tuesday (Jan. Funding Options pointed to late B2B payments in particular as a key factor behind why small businesses are struggling to pay their taxes. 24) that SMEs in the nation owe nearly $3.25

Taxes 100

Taxes Payments Lending National 100

Abrigo

JULY 20, 2017

Allaboutrisk.com (AAR) recognizes Sageworks as a credit risk vendor in its 2017 Risk Software Report. The annual report features Sageworks as a credit risk software vendor alongside global technology and financial leaders SAS and UBS Delta. The products featured in the report include: · Credit Analysis. Loan Administration.

Software 150

Software Report United States Compliance 150

PYMNTS

AUGUST 10, 2020

Consumers and other businesses can access their tax refunds, benefits, freelance income, insurance claims, dividend payments and other disbursements within 30 minutes of being paid — sometimes even within seconds. Instant payments are one of these solutions, allowing companies to digitally transfer funds 24/7 year-round.

Report 228

Report Payments Millennials Cards 228

Abrigo

MAY 11, 2021

Takeaway 1 Global cash flow can provide a more holistic lending picture as lending decisions have become more complex. Many financial institutions use global cash flow analysis in their lending process. A common misstep seen in lending departments is the belief that a guarantor improves an applicant’s credit quality.

Analysis 195

Analysis Lending Taxes Comparison 195

PYMNTS

OCTOBER 22, 2019

Recent short-term , or repo, lending issues have Sen. CNBC is reporting that Warren wrote a letter to Treasury Secretary Steven Mnuchin about the mid-September issues, including a deluge of corporate tax payments and settlements of government bond auctions, both of which have been a drain on a system that normally runs without hiccups.

Lending 101

Lending Regulation Taxes cryptocurrency 101

Abrigo

DECEMBER 18, 2023

Critical capital Should CRE lending be off the table? Recent headlines may lead bankers to believe that shunning commercial real estate lending is the safest path to limit or avoid credit risk, given stresses on CRE and regulatory concerns. But that might not be the best move for your financial institution or your community.

Risk Management 221

Risk Management Management Lending Capital 221

Abrigo

NOVEMBER 13, 2015

Banks involved in ag lending understand that the volatility of the industry – unpredictable weather patterns, variable commodity prices and more – can often lead to higher amounts of risk compared to other concentrations. By improving policies and procedures, banks can make better and more profitable ag lending decisions.

Lending 150

Lending Data Analysis Policies 150

PYMNTS

MARCH 13, 2017

Good news is ahead for those suffering from low FICO scores — according to reports this morning, civil judgements and tax liens will by and large be coming off of consumer credit reports. The change will apply to new tax lien and civil judgment data that are added to credit reports as well as existing data on the reports.

Report 111

Report Data Taxes New York 111

PYMNTS

APRIL 3, 2018

Lending FinTech GreenSky has confidentially filed paperwork for an initial public offering (IPO). The Wall Street Journal reported that the Atlanta-based company, which enables retailers, health-care providers and home contractors to offer loans to their customers, could go public as soon as this summer.

Lending 116

Lending Fintech Atlanta Capital 116

Abrigo

FEBRUARY 16, 2016

Financial institutions considering lending to nonprofits may want to be aware of these recent financial trends, as well as some of the ways lending to these organizations might differ from lending to for-profit businesses. Here are two mistakes to avoid when lending to nonprofits , according to the firm: 1.

Analysis 150

Analysis Lending Community Bank Community 150

PYMNTS

MAY 21, 2018

With the rapid scaling back of its movie ticket subscription program — combined with reports that the startup is burning through funds at such a rapid clip that it only has enough cash on hand to survive for another month or two, MoviePass has investors worried. The tax would end after five years unless the city chooses to renew it.

Seattle 100

Seattle Taxes Cards Data 100

TheGuardian

OCTOBER 27, 2021

Bank, which is Britain’s third-largest mortgage lender, reports pre-tax profits of £687m for third quarter Profits at Santander UK more than quadrupled in the three months to the end of September, as the bank benefited from further growth in mortgages and improving economic conditions.

Lending 77

Lending Taxes Report 77

PYMNTS

FEBRUARY 8, 2018

Small business hiring may have petered out in January, but lending to SMBs certainly didn’t. The latest Biz2Credit Small Business Lending Index found SMB lending among large financial institutions (FIs) continued to climb, reaching a 25.3 percent approval rate in January.

Lending 108

Lending Taxes Regional Analysis 108

Gonzobanker

MAY 31, 2019

Financial institutions that want to play in the small business lending sandbox need to bring their digital toys. But how can community banks successfully compete with big banks and fintechs that are spending billions on their digital lending capabilities? In a recent American Banker. Source: DeBanked ). Technology Utilization.

Lending 126

Lending Community Bank Community Data 126

Abrigo

JANUARY 7, 2021

Relevant tax forms, quarterly financial statements, or bank statements are acceptable documentation. Self-employed borrowers without employees would use net profit in 2019 or 2020, as reported on IRS Form 1040 Schedule C (capped at $100,000) divided by 12, then multiplied by 2.5 (3.5 Lending & Credit Risk. SBA Lending.

Taxes 195

Taxes Lending Connecticut Capital 195

PYMNTS

AUGUST 7, 2018

Traditional institutions are picking up steam in their efforts to collaborate with alternative financiers and FinTech firms, largely viewed as a way to spin the competition into allies and upgrade their lending services without the burden of in-house R&D. The Fed’s report was published weeks after announcements of a 4.1

Lending 100

Lending Survey National Trends 100

Abrigo

JUNE 14, 2016

Loan officers and the chief lending officer can play a role in protecting asset quality during the sales and application process, particularly during times of rapid loan growth. Here are three ways that the lending department can proactively help manage credit quality. Request a consistent set of product-specific documents.

Lending 150

Lending Examples Taxes Resources 150

Abrigo

MARCH 29, 2023

PPP fraud spikes How PPP funding led to fraudulent loans While individual stimulus checks and PPP funding helped many businesses during the crisis, a Government Accountability Office report concluded that the SBA’s organizational structure and priorities during the pandemic contributed to conditions that led to increased fraud.

Fraud 195

Fraud Trends Taxes Training 195

MyBankTracker

MARCH 24, 2021

The 2021 tax season is likely to stand out from previous years as many Americans might need their tax refunds more than ever. According to a recent MyBankTracker survey, Americans are most likely to put this year’s tax refunds into savings, which may not come as a surprise. percent) of a tax refund for the 2021 tax season.

Taxes 52

Taxes Survey Study United States 52