How APIs Power the Future of Cash Flow Predictive Data

To understand the future of cash flow analysis, insights into past and present cash flow are required. Without past and present financial data, it’s difficult to get the most accurate, relevant, and real-time cash flow predictive data.

Leveraging cutting-edge machine learning and artificial intelligence technologies with the ability to automate and execute cash flow analysis of your small business customers in real-time is the future every bank, credit union, and non-banking financial institution expects – APIs are the key to that future.

Application Programming Interfaces help small business lenders to access, analyze and use the most robust and real-time forward-looking data points. With API technology, lenders can integrate with multiple systems such as accounting, cash flow, banking, and other financial systems, to gain better insights into their customers’ financial heath. Thus, APIs deliver real-time multi-financial data points which is crucial to accurate cash flow analysis and ultimately get cash flow predictive data. Unlike the old-school manual reconciliation process, APIs automatically provide cash flow predictive data required for better credit scoring. 

APIs – The Future of Cash Flow Predictive Data

For example, a traditional bank with thousands of customers where the loan department needs to produce accurate cash flow forecasts to get real-time predictive cash flow data to deliver customized solutions and make intelligent lending decisions. The bank requires a solution that delivers insights into borrowers’ future financial health.

A FinTech that provides an API will enable lenders to access data from multiple sources in real-time. They can track the cash flow in real-time to gain the insights to make accurate cash flow forecasts. Later, lenders can access cash flow predictive data with the help of APIs. The collected cash flow predictive data from different accounts are then visualized on a dashboard, providing a single source of truth for the lenders to work with.

How APIs Deliver the Most Accurate Cash Flow Predictive Data

Manually creating cash flow analysis to get the most accurate cash flow predictive data is difficult. It’s important to gather and reconcile all of the relevant information – including cash from operations, investing, and financing.

APIs work to streamline the underwriting processes by automating the collection and normalization of cash flow data. Using predictive analytics, FinTechs can easily forecast cash flow and transport lenders the most accurate and real-time predictive data of their borrowers. It’s not the quantity but quality that matters. With API technology, lenders can transform raw data into meaningful and easy-to-understand insights and get a better view of their borrowers’ financial health.

Today, third-party API provider companies use AI and ML-based systems to convert incomplete and inaccurate data into valuable information. By leveraging advanced analytics methods, FinTechs can consolidate and normalize past, present, and future cash data. Eventually, APIs provide lenders the most meaningful cash flow data in the form of intuitive and easy-to-understand graphs and charts.

When lenders have their borrowers’ most accurate and real-time data, they can develop a better credit scoring model to determine creditworthiness, reduce credit risk and make better lending decisions. Also, it helps lenders to identify and meet their customers’ unique financial needs. They can improve customer experience by providing easy and fast loans and offering customized products and services. Moreover, it allows lenders to attract new and retain existing customers, boost sales and make a sound profit.

APIs are the future of cash flow predictive data. Without it, you can’t survive in the current lending ecosystem. If you want to gain competitive advantages, position yourself as an industry leader and become the financial expert of the future, you must embrace cash flow predictive data and APIs today.

How APIs Will Transform the Financial Services in the Future

From weather snippets to Paypal, Twitter bots, and travel booking, we use APIs in our everyday lives. In this digital era, you can purchase your favorite items online and make payments via a payment gateway instantly. You can invest in mutual funds, stocks via API interferences from their bank easily. Lenders can streamline their loan applications and provide working capital within a few minutes post-checking the credit scores in real-time.

From the above examples, it is clear that APIs play a significant role in our daily lives. APIs are reliable, secure, fast, and efficient and help abolish hurdles to achieve the organizations’ desired goals.

We live in the digital era and can’t imagine living today without the internet. Today more than 59% of the global population is using the internet. This number includes people who prefer interacting with financial institutions via online mediums that are secure and mobile-friendly. This necessitates all lenders to innovate themselves to offer ground-breaking technology-enabled services to meet the digital generations’ needs, attract more customers, and take their business to the next level. Financial technology has not only become necessary, but they are now an important part of today’s business era hence APIs have become more indispensable than ever before.

Why Use Financial APIs And What Are Their Benefits?

Here are some important benefits of using APIs in banking and financial institutions:

Open New Opportunities – Financial institutions can generate a lot of revenue by selling their data through APIs and collaborating with Fintech partners and other players.

Multiple Services Through Single Platform – Through one single API, lenders can offer multiple services to their customers. For eg: banks can offer loans, insurance, currency transactions, investment opportunities, payment services, and more.

Better Decision Making – When lenders have accurate and real-time accounting and financial data of their borrowers, they can better determine their borrowers’ creditworthiness and make informed lending decisions.

Cater to the Needs of Millennials – Millennials are tech-savvy and they look for personalized services to meet their unique tastes and needs and APIs can help deliver those quickly.

Meeting Regulatory Compliance – APIs can help banks and other financial institutions in various tasks such as regulatory reporting, compliance, transaction monitoring, identity management, and control.

How Are Working Capital Loans Different From Term Loans

At some point in your business’s life cycle, you must need some extra money to successfully run and grow your business. Whether it’s for buying inventory, expanding business location, hiring employees, or paying wages, these funds can be used to cover a wide array of expenses. 

Every business is different so their financial needs. It’s important to choose the right loans so that you can meet your business’s current financial needs and budget. Today, working capital loans and term loans are the two most efficient and sought-after funding options available for small business owners.

Before you finalize your small business financing option, it’s imperative that you know the difference between working capital loans and term loans adeptly. 

Working Capital Loans vs. Term Loans: The difference

Business Working Capital Loan

These loans are generally short-term business loans and are offered to cover the day-to-day expenses in your organization. Usually, you need a working capital loan when you have to pay monthly rent and bills, hire new talents, pay salaries to your current employees, cover seasonal demands, and meet other short-term expenses. Working capital loans are mainly taken to meet the costs of running a business. 

Besides, the repayment term of this efficient small business financing is low as compared to many of its funding counterparts. But you can secure working capital loans again if you repay the borrowed amount on time. You can decide the amount to be borrowed depending on the specific cash flow needs of your business. Cash credit, trade credit, bank loans, bank guarantee, invoice financing & factoring, and letter of credit are some of the many types of working capital loans available to small business owners. 

Key Features of Working Capital Loans include:

• Availed for short-term business purposes
• Repayment tenure is as low as 9-12 months
• Lesser loan amount
• Interest rates are higher
• No collateral required
• Easy and fast application process
• Limited EMIs as the loan amount is low

Business Term Loans

These small business loans can be either short-term, intermediate-term, or long-term available for both startup and established businesses. In term loans, a one-time lump sum of cash is provided to borrowers that they have to repay over time in scheduled installments with a fixed rate of interest. Whether you want to purchase new equipment, invest in real estate, pay-off debts or finance your day-to-day operations, getting a term loan is the flexible and stable way to get more funds, build credit and take your business ahead. 

Though term loans are not for everyone, you must have a good credit score, a solid business plan, great annual revenue, and a positive cash flow to get your loan approved. However, what is required truly depends on the lender. Besides, the loan amount, interest rate, terms, and fees you will be qualified for depends on your business credit score and revenue. Short-term, intermediate-term, and long-term are the different types of term loans. 

Key Features of Term Loans include:

• Repayment tenure is generally 5 to 10 years
• Higher loan amount
• Interest rates are lower
• Complicated loan process
• Multiple installments spread across years
• Secured term loans require collateral
• Loan disbursement takes time

Working Capital Loans vs. Term Loans: which is better?

Both these small business financing options offer profitable features to keep the business operation optimal. A term loan could be your best choice if you want to invest a high amount of capital in your business. However, if you only require small amounts to meet short-term business expenses, you should go for working capital loans.

Although both term and working capital loans are provided by banks, credit unions, and online alternative lenders, it’s always better to get your desired loan type through an online lending marketplace. When you have multiple lenders and a variety of loan offers to compare from, you can choose a loan that best fits your current financial needs and budget. 

Tips to Get Small Business Loan after Bankruptcy

Whether you’re an aspiring entrepreneur or a veteran small business owner who has filed for bankruptcy and is looking to recover the situation, there are ways in which you can do this, with the help of small business loans. Yes, a small business loan after bankruptcy is possible. 

It can be challenging to secure a business loan after bankruptcy because it can stick to your credit report from 7 to 10 years from the filing date. Since today many alternative lenders consider several factors such as type of bankruptcy, the current financial status, and the level of risk when approving your loan application, so you may or may not be able to get working capital even after bankruptcy. 

Wondering how to get a small business financing after bankruptcy? Well, we’re sharing some of the many important tips that will help you improve your chances of getting funding or find capital from alternative resources. 

Rebuild Your Credit

If you want to increase your chances of getting a small business loan after bankruptcy, it’s vital to promptly start building your credit. It is one of the most important factors that lenders consider when approving your loan. 

Though it will be extremely difficult to boost your credit during such a weird and tough situation, you can do it by working hard, spending responsibly, and reducing costs. Even though the bankruptcy can linger on your credit report for as long as 10 years, following financial responsibility could help you get a small business loan in as few as two years.

Go for Alternative Lending

Banks and other traditional lenders are usually reluctant to give loans to the small business owner after bankruptcy, due to federal and state strict financing regulations. When you’re having a tough time finding a lender during such a situation, it may be worth considering alternative lending options. 

Though these lenders may charge ultra high-interest rates and fees, they could offer you some small business loan types such as Bad Credit Loans, Short-Term Loans, Lines Of Credit, and more. Besides, you could also get a few other types of asset based small business loan after bankruptcy such as Invoice Finance and Factoring, Merchant Cash Advance, Crowd Funding, and Angel Investors. 

Explain Your Bankruptcy

It would be a great idea to explain your bankruptcy with your lender that describes your circumstances well. What were the situations that let your small business default? What is your strategy and plan to get your business back on track? How you are currently managing your finances? Sharing this vital information will allow your lender to understand your situation and have a more positive impact on your loan application. 

Create a Solid Business Plan

Besides having an attractive personality, amazing communication skills, and negotiation tactics, it’s significant to have a solid business plan to present your opportunity to the lenders.

Before applying for a small business loan after bankruptcy, prepare a business plan that will force the lenders to approve your loan. Outline products or services you’re going to offer, what are your target market and customers, and who are your competitors? Besides, let your lender know for what business purpose you want the money, and how you’re going to repay the amount. 

Final Thoughts

There’s a hope to get a small business loan after bankruptcy, though it takes a solid business plan, some patience, and a lot of hard work. You can apply through an online lending marketplace to find and compare a variety of small business loan offers after bankruptcy. These intuitive lending platforms connect you with multiple lenders which later help you choose a lender and loan that best fits your current financing needs. 

3 Things to Consider When Choosing Merchant Cash Advance For Small Business

If you’re looking for a fast and flexible funding option to meet your short-term financing needs, choosing a merchant cash advance for small business may be the perfect option for you. Because of its easy application and credit requirement and fast approval process, MCA is one of the most popular and convenient funding programs to grow your business and boost cash flow temporarily.

Merchant Cash Advance is an unsecured advance against your business’ future income and requires no collateral to secure the loan. However, before you go start submitting your application, it’s important to do a little research first so you can choose the right Merchant Cash Advance lender. The following are some of the many important considerations when choosing an MCA for your small business.

Check the Reputation of the Lender or Company

If you Google “Best Merchant Cash Advance Companies”, you will be welcomed by hundreds of companies claiming themselves to be the top MCA companies. But how you choose which one is actually best? Well, you can do it by finding the reputation of the company online. You can start by checking honest client’s reviews and testimonials from multiple resources. Find reviews on places such as the Better Business Bureau, user review sites, and other reliable platforms. Besides, explore websites to find the experience of the lender, numbers of approved loans, technologies being used, satisfied customers, etc.

Compare the Interest Rates

Because the interest rates for Merchant Cash Advance for small business depends on your credit score, time in business, and available assets, it’s vital to choose the suitable option and settle with one that fits your business needs. There are a few advanced and intuitive lending platforms where you can find and compare Merchant Cash Advance Loans and their interest rates from a variety of lenders. However, you don’t have to necessarily choose a lender with lower rates. Take time to read and understand their policies too, as they can charge hidden fees and might have some conditions to use the funds. Go for that MCA lender that meets all your business’ financial requirements.

Ask Questions

Before choosing a Merchant Cash Advance company, make sure you have all your ducks in a row. It’s always a smart decision to ask your queries and doubts from the Merchant Cash Advance companies. You can ask the following questions to determine whether the company meets all your requirements:

• Are you incorporated?
• What is your business lending experience?
• What happens if I default on my MCA loan?
• How can I use the funds properly?
• Are there options to get early re-advance?

If the lender is successful in solving all your dilemmas related to MCAs and you feel like you can have a good relationship with a particular lender, you can eliminate other lenders from the list.

Whether you’re a startup or an established company, a Merchant Cash Advance for small businesses should always be considered. So, if you’re planning to secure an MCA, these above considerations will help you make the informed decisions. These loans are easy and fast and you have access to the funds in as little as 24 business hours once approved.

Time is Opportune for you to Take a look at Online Aptitude Test Example

Aptitude tests have become one of the most widely-employed techniques for estimating the potential of an individual in terms of job requirements. Most of the companies embraced the concept of aptitude test and incorporates it into their rigorous recruitment processes. In essence, aptitude tests consist of a series of tests designed to get the measure of an individual’s dimension of skill-sets in accordance with the requirements of a job.

In addition, it also gauges the logical and problem-solving expertise of an individual. Though aptitude test is a general one but still questions in aptitude test may vary slightly from one type of test to another based on the underlying job profile. For instance, a person who has applied for an IT job is supposed to confront questions pertaining to computer programming.

Job mismatch has been the major reason for the people stepping down from the job after some days have passed by being on the job. An interviewee comes through a spate of rigorous interview sessions until they are appointed for the job profile. However, after a few days, a person finds themselves being stuck and seeks to move out to get another job. Such situations results in considerable loss of time and money spent on training activities.

Aptitude tests are designed to yield rich dividends to both employer and employee that will become apparent in the long-run. The results of aptitude test make an evident estimation of a person’s skill-tests and interpersonal skills. However, results of aptitude tests will be accurate when you have undergone the test without considering the implications.

The results of aptitude test will guide you through making a choice of a suitable job somewhere down the line. In addition, online aptitude tests does not demand that you reach out to testing locations as you can appear for an online aptitude test after you have enrolled for it.

Color Personality Test: A yardstick to Gauge your Personality Type

A personality type test is vital for every individual as the results of such tests reflect the true personality of an individual and acquaint the person with the same. Also, such are the tests that propel a person towards motivational success. It has been the case that our personality bears a significant influence on our relationship with family and friends. Moreover, it also affects our health too. Thus, it necessitates for every person to take an online color personality test and assess the personality type we fall into.

The color personality test has sought attention in colleges and workplaces. Students undergo such tests to gauge their developmental needs and motivation quotient. The primary objective behind such color test is to instigate a person into opening up for good communication.

These tests might turn out to be the guiding force for the educational authorities as well as organizations behind making inferences on what assignments and projects suits the best to the person. This strategy is certain for a person to understand at what work he is unbeatable. Also, it will sustain the self-motivation in them. Such tests also help a person to take their efficiency a notch further and seek out the right ones from the available projects in which their peers are no match for them.

These tests also enhance the productivity of the person and help a person grow more sociable with the people around them. Also, these tests help a person to fathom trove of potential that rests inside them and unleash the same. Furthermore, such tests are designed to help a person understand other personalities as well.
These tests enable a person to recognize the true color of their personality and work out other parameters that affect their personality. Moreover, these tests help a person to improve their personality and gear them up to become more adaptive to different environments.

Tips to Present Psychometric Tests

Do not perceive the psychometric tests as negative; remember they are part of the selection process.

You go to your second job interview; I ask you to make a series of psychometric tests that evaluate your intelligence, skills and attitudes. Naturally, you get nervous and you wonder if your working future will depend on that test, do not panic!, that means you’re a likely candidate for the post. Take this opportunity, not all candidates reach this stage and surely your resume was attractive to them.

If this is the first time you appearing for a psychometric test, you should understand that these tests are instruments that aim to assess some psychological trait or traits which helps in determining the overall personality of an individual. This evaluation is performed through array of questions that represent everyday situations.

There are many psychometric tests with different objectives; some identify certain personality traits while others measure problem solving skills, social skills, leadership, teamwork, values ​​and principles, and so on.

Here are some tips to answer psychometric tests:

• Adopt an optimistic outlook.
• Prove you’re the best person for the job in questions.
• Follow each of the given instructions.
• Do not try to get ahead of the answers.
• Before starting the tests make sure that you have read all the instructions carefully so, that you have no doubts.
• Take only the time they have given you to answer the test, do not overdo it.
• Honestly answer each of the questions.
• Be consistent with your answers.
• When answering a personality questionnaire, it is important that you answer honestly, because for the evaluator is very easy to detect if you lie.
• Avoid the temptation to think like your assessor.
• Focus during the evaluation.
• If you do not know the answer to a question or are confused, do not waste time, because in most tests thee will be an approximate response time, leave it for last.

You know what to do, prepare, and encourage answering in your exam!

Aptitude Test: Its Significance in Mental Assessment

Science has given us a wide range of psychometric tests in order to understand the human psychology, such as personality, cognitive and emotional functioning, or their ability.

There are two main types of psychometric tests:

1.Aptitude and ability tests– it is used to measure your ability to perform or carry out different tasks.
2.Personality and interest tests– it measure your habits, your way of doing things, and specifically the way you interact your environment and other people.

Why Aptitude Tests

As I mentioned above that it is a type of psychometric test and one of the group of tests known as performance tests. It is used to measure the cognitive aspects of personality, intellect, abilities, aptitudes, knowledge and skills. It helps to uncover secret potential, the potential we have and we are not even aware of it or maybe we just had a slight idea of. It helps to identify them and also provides a great deal of information that can help us move our behavior in desired direction.

Many employers use aptitude tests alongside interview, application forms, references, academic results and other selection methods for the personal assessment of an individual compared to other candidates.

Fundamentals of aptitude tests

These tests are designed in such a manner that helps us to assess our logical reasoning and thinking performances. Also, consist of multiple choice questions that are administered under exam conditions. Moreover, they are strictly timed. A typical test may allow 30 minutes for 30 or so questions.

Aptitude assessment

1.Verbal ability
2.Numeric ability
3.Abstract reasoning
4.Spatial reasoning
5.Mechanical reasoning

These tests are designed in such a way that very few people will be able to complete all of the questions; the level of questions becomes more complex as the test progress. It doesn’t matter if you are not able to complete all the questions; it’s the number of correct answers that matters. There are various aptitude practice tests and aptitude test example available on the internet for the reference as well as for practice.

Find Guam Home Land For Sale Through Easy And Convenient Medium

Finding your dream home in Guam can prove to be an uphill task. This is due to the fact that with no or little idea about the real estate market of Guam, you may end up being overwhelmed and confused. You may not know how to find Guam house land for sale or approach home owners will your home purchase offer. But with viable assistance, your home finding task can become extremely easy, simple and convenient.

All you require to do is search the internet to find credible and affordable way to find varied homes, condos, apartments and cottages for sale in Guam. With dedication and smart search, you are sure to come across a reliable website that holds latest information about the homes for sale, purchase and rent in Guam. You can find pictures of homes, their information like area, number of rooms and bathrooms, location, price and so on.

If you wish to make your search more convenient, you can even narrow down your search. This can be done through entering your preferences, like the location you prefer, price range, area and more. Thus, you will get details about all the homes that match your given criteria. You can then explore all the homes, seek their information and even talk to experts for details. They will explain you more about the homes, their current market value and may even negotiate with the home owners on your behalf. What more, when your deal is finalized, you will need to shift your belongings to your new home. Here, expert agents can help you find the best movers in your area to make your move simple, convenient and cost effective.

Thus, when it comes to easy and effective sale of home in Guam, search for the best online medium. Your home search and purchase will actually become a breeze!