FASB votes to delay effective date for lease standard

| Alerding Alerts, Business Miscellaneous, Financial

The effective date of FASB’s standard on accounting for leases will be delayed for private companies and certain other entities after a unanimous vote Wednesday by FASB. FASB directed its staff to draft an Accounting Standards Update (ASU) that will change the effective date and be issued following a formal written ballot by the board, which is expected to take place in November. Under the ASU, the effective date is delayed one year to fiscal years beginning after Dec. 15, 2020. Early-adoption Read more [...]

How to Make Your Business More Bankable – Part 1 of 3 “Smart Business Banking Series”

| Business Miscellaneous, Financial

By Natalie Hopkins & Chris Mennel     The economy is improving.  The stock market is breaking records.  Your business spent the past 4-5 years either in a rebuilding mode or struggling to show positive or even break even financial results.   Fast forward to the present – now you have identified growth opportunities, but are fearful that no bank will lend you money without strong financial results.  There are several things you can do to make your business more attractive to a new banking Read more [...]

Making Credit Decisions Based on…..air?

| Financial

By Mike Alerding     I have spent the last 25+ years as a volunteer loan committee member of two SBA 504 loan committees and two mezzanine financing organizations. In doing so, I have had the opportunity to look at literally thousands of financial statements from borrowers and potential borrowers from closely-held and usually smaller businesses. I have watched lending professionals approve loans using a variety of information, some of which is actually relevant to the loan itself. I have also had Read more [...]