It takes some diligence, but with the right knowledge, a reliable banking partner, and the use of effective tools, you can empower yourself to safeguard against potential threats like check fraud schemes. What does the fraud look like? Here is a typical example of what business customers are experiencing: A business customer drops a check payment in the mail payable to their vendor. At some point along the way, the check is stolen by criminals. (Criminals target USPS blue collection boxes,...

Read More

As a business owner, you're a master of the financial juggling act. With accounts payable, accounts receivable, cash flow forecasting, and payroll on your plate, it's a wonder you haven't joined the circus! Fear not, cash management is your financial safety net - it simplifies your financial operations to streamline your bottom line with a much-needed boost. What Is Cash Management? Cash management refers to the process of handling a company's cash flow to achieve the best possible...

Read More

‘Tis the season for fraud. We must be wary of the breaches, identity theft and fraud that tend to ramp up during the holiday season. Debit card fraud, especially, thrives during this time. Debit card fraud occurs when someone gains access to your account information to make unauthorized purchases. Black Friday and Cyber Monday deals have come and gone, but many people are still shopping online for that special holiday gift for a loved one. All that extra online shopping can increase the...

Read More

Savings rates are on the rise, it’s a great time to develop a savings growth strategy. We frequently discuss savings rates with our customers.  Through most of the last decade savers were forced to settle for lower yields on deposits, stuck in a low-rate environment.  Even those fortunate to lock in higher returns during the brief market up-ticks grew weary of the feast or famine situation.  There is a simple diversification method to increase your savings returns over the...

Read More

Businesses everywhere are feeling the impact of increasing product costs. As the costs of necessities reach new heights, it’s more important than ever for small business owners to create a budget and stick to it. Focusing on cash flow has always been important for small businesses, but it’s now essential with consumer goods at unstable costs nationwide. Here are a few things you can do to ensure your budget can cover you in the case of an emergency. Budgeting For Small Businesses During...

Read More

In the wake of COVID-19, the federal government is taking plenty of measures to help small businesses. One of these measures is the Employee Retention Credit (ERC). This article will cover the ERC, how it can help small businesses, and how you can seek help with applying for the program. What is the Employee Retention Credit ERC? As a part of the Infrastructure Investment and Jobs Act, the ERC is a refundable credit on qualified wages. This credit is paid to employees, but many business owners...

Read More

Running a business is a marathon. At every step, business owners make mistakes. But mistakes often don’t make a business fail; instead, it is a business’s response to mistakes that makes the difference. Successful business owners know how to identify their mistakes, focus on what they could have done differently, and can develop a plan to prevent similar errors in the future. Use an Audit to Learn from Business Mistakes Plenty of business owners might think ‘audit’ is...

Read More

If you own a business, then you’ve undoubtedly heard about rising prime rates. And those predictions are in fact coming true, with the first rate hike occurring just yesterday, March 16, 2022. What does this mean for your organization, and how can you plan for success with increased interest rates in mind? Addressing Rising Prime Rates You may already know that increased interest rates affect every facet of the economy. People often associate this rise with changes in their mortgage or...

Read More

The Employee Retention Credit (ERC) is a tax credit developed in 2020 as a temporary coronavirus-relief provision to assist businesses through the pandemic. It has since gone through several revisions and has provided billions of dollars in tax relief for businesses. All wonderful intentions, but like many of these relief efforts, there are stipulations around qualification and required documentation to take advantage of it. We recommend talking with your tax preparer to determine your potential...

Read More

There comes a time for every business where you will consider a loan. You may need the additional funds for an expansion, equipment, inventory, or even hiring new talent. If you see a small business loan in the future, you may wonder about your credit score's importance. Just how important is your credit profile when applying for a loan? Follow our guide and learn more about how your credit profile plays a role. What Credit Score is Needed for Small Business Loans? There is no magic...

Read More