Of the many small businesses that apply for loans every year, only half are approved. According to lending experts, there are four primary reasons why small business loans get rejected.Credit ProblemsBad credit or no credit is a red flag for lenders. Would you loan money
When welcoming a new employee to your team, you want to ensure that they’re trustworthy and in keeping with your company’s values. To avoid hiring an unfit candidate, criminal background checks are a must. Not only do background screenings allow you to gather pertinent information,
Missing tax returns usually means trouble, and it’s a safe bet that they weren't all lost in the mail.Even experienced loan underwriters can overlook the significance of a missing tax return. By itself, a public records check showing that a business has no tax liens
As COVID-19 continues to present unprecedented challenges, many are having a hard time adapting to this new normal. Employees are undergoing huge transitions in their professional life. With so many staff members now working from home, it’s not uncommon for morale to take a hit.
In today's litigious society, HR managers must work with legal counsel to develop background screening processes that do not leave the company vulnerable to lawsuits. Seven-digit settlements sometimes arise from these lawsuits, and there are unscrupulous people who may apply to different companies simply to try
Fraud is an ongoing threat to loan underwriters. Professional criminals can make an art form out of defrauding lenders. However, most experienced underwriters have a well-honed ability to detect red flags. Seasoned and astute attention to detail on the part of an underwriter can stop
When it’s time to consider the financial situation of a business or individual for a loan or mortgage, lenders agree that verifying tax transcripts directly from the IRS is one of the most important steps to take when evaluating the borrower’s ability to repay the
Even though there are thousands of people receiving unemployment and looking for work, it can be difficult to hire just the right employee when unemployment numbers are high. Restrictions across the country are being lifted so that more people can go to stores and attractions.
Healthcare workers are responsible for the wellbeing and, sometimes, the lives of their patients. Because of this responsibility, it is important for people in the healthcare industry to provide them with a safe environment for their patients. People often see medical providers when they are
Any commercial lender must be aware that underwriting can be risky if not correctly done. The interpretations of written agreement terms, after-acquired interests, and state law ought to be understood. Understanding the 45-day rule can be of substantial help. What is underwriting? It is a process where