Cornerstone Licensing

UNDERSTANDING THE COST OF SURETY BONDS Considering a surety bond? Let's break down the costs associated so you can plan accordingly. The cost of a surety bond isn't one-size-fits-all; it’s based on multiple factors unique to your business. Here are the considerations: TYPE OF BOND: Different bonds come with different rates depending on the risk associated with the industry and activity. BOND AMOUNT: States often set specific bond amounts for various licenses. The higher the bond amount, the higher your premium. ORGANIZATION SIZE: multiple licensed locations or higher business volume can increase the size of bond required. CREDIT RATING: Your business's credit score can significantly impact your rate. A strong credit score often means lower premiums! Typically, surety bond premiums range from 0.5% to 15% of the total bond value, so the cost can vary widely. A business with a $50,000 bond requirement could pay as little as $250 or as much as $7,500 annually, depending on the factors above. TIP: Working with a trusted surety bond provider can help you get the best possible rate quickly and tailored to your needs. At Cornerstone, we’re here to simplify the process and find a solution that fits your budget. Let’s connect to discuss how we can help your business ---> https://hubs.li/Q02Ygg060 #SuretyBonds #Bonds #FinancialServices #RiskManagement #Licensing #CornerstoneLicensingServices

Happy 15-Year Anniversary, Joel Blackburn! Today, we celebrate Joel's incredible 15-year journey with Cornerstone! From Marketing to Sales, Joel has worn many hats, continually enriching our team and clients with his expertise. In his current role as Senior Account Executive, Joel brings an unwavering commitment to excellence and world-class customer service. Joel’s career at Cornerstone is defined by his passion for putting clients first and ensuring they receive the best support possible. no matter the role, Joel embodies Cornerstone’s mission with warmth and professionalism. Outside of work, he’s had adventures that rival any bucket list: touring with a rock band, backpacking through South America, and, most importantly, being a devoted husband and father to two lovely daughters. He lives by the powerful words: “If you succeed in life but fail your family, you’ve failed altogether.” Joel, thank you for your dedication, your passion, and for setting such a wonderful example for all of us at Cornerstone. Here’s to many more years! #CornerstoneAnniversary #Anniversary #15Years

What an incredible experience at the American Fintech Council Policy Summit in Washington, DC! The event brought together fintech leaders, regulators, and innovators to tackle some of the most pressing policies shaping the future of financial technology. Here are some standout moments and highlights: ? Phil Goldfeder was truly the powerhouse behind it all. His energy and leadership kept the day running seamlessly – he was everywhere at once. Kudos to Phil for pulling off such an impactful event. ? Janet Hale, CRCM, CERP facilitated one of the most dynamic panels of the day, bringing together superstar CEOs to discuss the future of embedded finance. Janet’s ability to guide the conversation made it a standout session. ? Marc Franson and colleagues Tobias P. Moon and Kathryn Puls led a fascinating breakout on third-party risk management. The dialogue was engaging and thought-provoking, further solidifying Marc’s position as a true thought leader in the space. ? Jelena McWilliams and Chris Hilliard shared a session on "Responsible Regulation for Smart Innovation" that was equal parts insightful and entertaining. Jelena’s humor and sharp insights made a complex topic accessible and memorable. ? U.S. Senator Mike Rounds gave an interesting talk on fintech and politics. His perspectives on what’s ahead for the financial sector were invaluable and sparked some big-picture thinking. ? Scott Sanborn, one of fintech’s OGs, shared the incredible story of how he took LendingClub from fintech disruptor to banking powerhouse. He took us through his playbook, which was nothing short of inspiring. ? A big thank you to the American Fintech Council and everyone who made this summit such a success. Events like this remind us of the power of collaboration and innovation in driving the financial technology industry forward. Until next year!? ? Jeff Brewer FTI Consulting, Chapman and Cutler LLP, Cravath, Swaine & Moore LLP, Winnow Solutions, LLC #Fintech #Innovation #Policy #AmericanFintechCouncil #CornerstoneLicensingServices #FTIConsulting #ChapmanAndCutlerLLP #CravethSwaineAndMooreLLP #WinnowSolutions

Bond renewal may seem confusing, but our expert Joel Blackburn is here to break it down! In our latest ASK AN EXPERT video, Joel explains the process of bond renewal by exploring the different types of bond terms. Here’s a quick overview: Continuous Until Canceled: The most common, this bond stays in place as long as you keep paying the premium. Continuous Through Project Lifetime: Valid for the full duration of a project’s life. Fixed Term: Bonds with a set end date, like notary bonds, that expire once the term ends. Non-Continuous: Also has a fixed term but can be renewed upon expiration. Watch the full video to learn more about each type and find out which applies to your business. #AskAnExpert #Bonds #SuretyBonds #BondRenewal #FinancialServices #Compliance #CornerstoneLicensingServices

BOI Deadline Approaching! **Less than 2 months to report your BOI to FinCEN **All reporting companies must submit, including those dissolved after Jan 1, 2024 **Non-compliance penalties: Up to $591/day starting Jan 25 Don't risk fines or legal issues. Act now to ensure compliance! Need help? Our BOI Filing Service can handle your FinCEN submission, saving you time and ensuring accuracy. CONNECT WITH US to get started: https://hubs.li/Q02YKmgN0 #Compliance #CorporateTransparencyAct #BOI #FederalRequirements #CornerstoneLicensingServices #BusinessServices

Cornerstone recently hosted an excellent webinar on managing state-by-state licensing for debt collection agencies. Whether you joined us live or missed out, we want to ensure you have access to the valuable guidance shared during this session. ? WEBINAR KEY TAKEAWAYS: Navigating Licensing Complexities: We covered how to manage state-specific requirements for consumer and commercial debt collections, highlighting the distinctions and evolving regulations. Expert Guidance from Industry Leaders: Leslie Bender and Christy Young Barger provided expert perspectives on compliance and best practices. ?Adapting to Changing Requirements: The session explored the nuances of licensing applications, including required corporate details, financial disclosures, and personnel documentation. Remote Work Implications: With remote work becoming the norm, we discussed how states are redefining branch licensing and how agencies can adapt. Managing Corporate Changes: Learn why timely reporting of changes like ownership, location, or operations is crucial for avoiding penalties. Cross-State Licensing Myths: We addressed common misconceptions about licensing validity across state lines and clarified unique state-specific rules. Stay Informed: Insights into upcoming regulatory changes, including Wisconsin’s new licensing requirements and how to proactively maintain compliance. ? WATCH THE WEBINAR RECORDING: ? If you couldn’t attend or want a refresher, the full recording is now available. Access it here: https://lnkd.in/eE3qT8kt ? Thank you for being a part of our first webinar! Stay tuned for more educational sessions and resources. #Webinar #Licensing #DebtCollection #ARM #Compliance #CornerstoneLicensingServices

Excited for American Fintech Council Policy Summit 2024! Tomorrow, we’ll be in D.C., joining fintech leaders, regulators, and innovators to discuss key policies shaping the future of financial technology. If you’re attending, let us know – we’d love to connect! #AFCPolicySummit #Fintech #Complaince #Policy

I’m excited to be #hiring a senior developer to join my dev team. I'm looking for a technician and leader who's strong in Microsoft's stack, who wants to be ~80% focused on writing great code and ~20% focused on maturing our infrastructure, process, and team to enable further scaling. Please reach out if you are interested, and share to anyone in your network who could be a fit!

Our team had the pleasure of attending the National Private Lenders Association (NPLA) Conference in Austin! A huge thank you to Amy Kame and Jonathan L. Hornik, Esq. for putting together an amazing event. We truly enjoyed the show and the opportunity to connect with so many great people in the industry. The NPLA board is doing an outstanding job steering the industry in a direction that benefits all members. We’re excited to see the continued positive impact their leadership brings to the private lending space. Looking forward to next year! #NPLA #PrivateLending #Austin John McKinney Andrea Tyler

LICENSING WEBINAR: Last Chance to Register! Our Mastering Debt Collection Licensing webinar is tomorrow at 1:00 PM EST! Don’t miss this opportunity to learn directly from experts Leslie Bender and Christy Barger on managing debt collection licensing with confidence and ease. You'll learn how to: - Navigate multi-state licensing requirements - Streamline your licensing process from applications to compliance - Discover common mistakes and how to avoid them - Gain expert insights on recent regulatory changes and proactive monitoring Register Now: https://lnkd.in/eVfsCfPM We look forward to seeing you there! #Licensing #DebtCollection #Collections #Webinar #CornerstoneLicensingServices