Does your organization extend Small Business Administration (SBA) loans to other businesses? If so, are you reporting those loan payments to the commercial credit bureaus? This may sound like a strange question to most SBA lenders. However, many financial institutions and other lenders still don’t understand the SBA’s credit reporting […]
How to Protect Your Financial Future During COVID-19
June 1, 2020 By Leave a Comment
If you’ve heard it once since March, you’ve probably heard it thousands of times: The word “unprecedented.” Sadly, there just isn’t a better word to describe what we’re living through. The COVID-19 global pandemic is like nothing the current generations of Americans have ever seen in our country. Stay-at-home orders, […]
How To Report Commercial Credit During the COVID-19 Pandemic
April 29, 2020 By Leave a Comment
While the financial consequences of the COVID-19 pandemic have hit consumers hard, small businesses are facing their own set of problems. If you’ve extended credit to a business that has been impacted by the pandemic, you’re well aware of what they’re going through. It’s likely your commercial debtors have contacted […]
Credit Reporting and the CARES Act
April 17, 2020 By Leave a Comment
As our country experiences one of the worst economic downturns in its history, consumers and companies alike are facing unprecedented financial hardships. If you extend credit, chances are you’ve heard from your customers and clients asking what you can do to help them through these difficult times. Creditors are answering […]
How to Report COVID-19 Debt Information to the Credit Bureaus
March 19, 2020 By Leave a Comment
It’s not a matter of if, but when, your customers or tenants will contact you about COVID-19- related financial hardships. How you help them through these tough times is up to you (you’ll find some options in this recent article). No matter what arrangements you make, though, you’ll want to […]