The Factoring Loan

• 28Jun

  Build Business Credit Like Pro

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  Robbi Gunter asked:

  If you are like most small business owners, you want to build business credit for your company and get small business loans when you need them. To build business credit means less risk for you as the owner of the business. There is effort involved when you decide to build business credit. Start taking the steps to build business credit from the get-go. This way, you won’t find yourself without a strong business credit profile even if your business is thriving.

  There is a lot of hype regarding the need to build business credit that says personal credit does not matter. It’s true that when you build business credit, you separate your business credit from your personal credit, but it does help to have strong personal credit as well. The more solid you are on your feet with personal credit, the more effective you will be when you build business credit. Credit protection laws vary between personal and business credit, so it’s important to understand the differences when you begin to build business credit. A good rule of thumb to follow is simply this – repair your personal credit along with the efforts you are making to build business credit.

  As you begin to build business credit, set up your business structure properly with the state and get all the necessary licensing. When you build business credit you will need a business phone listed in the telephone directory under the business name. Buying products or services from companies that report your payment history to Dunn & Bradstreet and Experian will help you build business credit.

  Don’t be discouraged by the best business credit score being reserved for the “big guys” when you build business credit. Maintain your focus and you will build business credit that has enough impact to catch the interest of private commercial lenders. Beware of loan fraud when you build business credit – a legitimate underwriter will not charge you a fee upfront to connect you with a business loan lender. There may be fees for other services involved when you build business credit, but not for that. Good business credit cannot be “bought.”

  Wade Henderson – very Professional – 15 yrs in the Business Finance Field – reputation for getting the deal done. IMMFinancial.com factoring specialist accounts receivable factors factored accounts receivable receivables factoring company accounts recievable factoring factoring and accounts receivable accounts receivable factoring companies sell invoices olympic credit fund factor recievables

  Tags: Personal Credit, Small Business Loans, Underwriter

• 01Apr

  The Easy Way to Market Your Small Business on the Web

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  Tiva Kelly asked:

  Recently, when doing research for my Internet marketing advice column, I’ve been talking to small business owners about why they originally decided to take the risk of entrepreneurship, and to strike out on their own. Most of them, when they think seriously about why they first started their business, offer no single reason, but instead cite a variety of factors that contributed to their decision.

  One big reason I’ve heard from a lot of small business owners is, basically, that they felt directionless and small in the corporate or service worlds, so they decided to take their fate into their own hands. Many large employers treat their workers like nameless and faceless cogs in a vast money-making machine. Certain types of people — like those who become small business owners — just don’t want to be another mindless drone in the hive. These big, uncaring companies are simply no place for the creative, innovative, and adventurous mind.

  Other small business owners say that they were excited by the challenge, or that they wanted a chance to work from home, or that they simply saw a gap in a market and jumped on the opportunity to fill it. Some say that all of these factors contributed.

  But there is one reason that strikes me as the most important in today’s Internet marketing climate: Many small business owners do what they do because they are passionate about their field. They had something they loved to do, and which they felt they were particularly knowledgeable about, and they decided to turn it into their daily bread. This is the factor that practically every small business owner has in common — knowledge, passion, and expertise. After all, no one ever starts a business in a field they don’t like.

  When maneuvering the tricky labyrinths of entrepreneurship, many fledgling small business owners forget about their original passion, and instead come to think that they must bend themselves backward to market their services. I’ve lost count of how many successful small business owners I’ve spoken to who regret the amount of time and effort they used to put into trying to emulate the practices of larger companies. This is a common mistake, but it’s only natural. We see how successful the big corporations are, and we think we have to do everything just like them.

  But this is simply not true. Just as large corporations don’t get anywhere by using small business marketing tactics, small businesses won’t get anywhere by trying to market like large corporations. Fortunately, Internet marketing for small businesses can actually be quite easy. What if I were to tell you that there was such a thing as free Internet marketing, and that it is easy and completely legitimate? Well, that’s what I am telling you.

  The key is to put your passion and expertise to use. The Internet and its users constantly crave new content, and who better to generate content in your field than you? No doubt, whatever your field is, there are countless Web sites that publish content pertaining to your area of expertise. You probably even read some of these sites. Why not become a contributor?

  The process is easy and simple. First, you must write the content. Write 600-700 word articles about some topic in your field that you know a lot about, and which you feel needs to be covered. Then, find an article marketing service on the Web. These services are increasingly popular among small business owners. They will not only help you polish your content, but they will also work to distribute it throughout the Web on your behalf.

  The benefits of this marketing technique are incalculable. Through the “About the Author” box attached to each of your articles, readers will discover your Web site, and business will steadily increase. Best of all, though, the more articles you have published, the more links there will be to your Web site, and the higher your site will rise in Google search results. In short, free and easy Internet marketing is not only possible, but it is also the smart thing to do.

  Factoring Loan * Invoice Factoring * A R Factoring * Small Business Factoring

  Tags: Doing Research, Drone, Labyrinths, small business factoring, Small Business Financing, Small Business Loans

• 30Mar

  Secrets of Small Business Loans

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  Thomas A. Hauck asked:
  
  
  Your business is doing well. Your customer base is growing, and during the last quarter you actually turned a profit for the first time since you opened your doors last year. You have a solid business plan and now it’s time to think about moving out of your rented space, buying more equipment, or perhaps hiring more employees.
  
  Perhaps your business is profitable but during your slow season you’re short of cash. Or your delivery truck just broke down and you have decided its time to get a new one. You need to get cash to keep your business moving forward. Where do you start?
  
  The good news is that there are a wide variety of loan programs available that can be applied to almost any business situation. The bad news is that the choices can seem complex and overwhelming. Here are some options that a small business owner can consider:
  
  Business Lines of Credit
  
  If your business is profitable over the course of the fiscal year but there are times when you are short of cash because your income is seasonal or cyclical, you may benefit from a business line of credit. A line of credit provides access to cash for a variety of short-term financing needs and gives you the flexibility to draw on the line at any time as long as you pay down the balance.
  
  Typically, once the line of credit is established funds are available when you need them, but the advantage is that you do not pay interest until you draw on the line. Lines can be secured or unsecured, with multiple repayment options and a variety of interest rates.
  
  Interest rates generally range from nine to fifteen percent based your personal and business credit history and other factors. You would generally not use your business line of credit for expansion or capital investment, because you may not realize income from your expansion for many months. For expansion you should consider a loan.
  
  Business Loans $25,000 and Up
  
  A business loan provides access to cash for many kinds of one-time expenditures and long term financing needs such as fixed asset purchases, or business expansion or acquisition. Unlike a line of credit, a business loan is amortizing and is fully disbursed when you close the loan. You may have the ability to lock in an interest rate.
  
  There are many types of business loans:
  
  • Vehicle Loan — Finance the purchase of a new or used vehicle.
  
  • Equipment Loan — Finance the purchase of new or used equipment.
  
  • Real Estate Loan — Finance the purchase of commercial real estate.
  
  • Secured Loan — Get permanent working capital, improve cash flow, purchase inventory and materials, finance accounts receivable, expand or remodel facilities.
  
  • Agriculture Loan — Finance crop and livestock production expenses, purchase equipment, breed livestock, purchase land for farming or ranching.
  
  • Cash-Secured Loan — Get permanent working capital, improve cash flow, refinance debt, purchase inventory, materials, equipment, or vehicles, finance accounts receivable.
  
  Business loan rates depend on a number of factors, including the amount you borrow, your collateral, financial strength of your business, term of the loan, and your credit rating. Over the past ten years business loan rates have fluctuated between four and eleven percent.
  
  Small Business Association (SBA) Loans
  
  If you have less-than-stellar credit or you are not sure you qualify for a regular bank loan, you may qualify for a loan program backed by the Small Business Administration (SBA). The SBA has created a program of government-guaranteed loans designed to make loans to small businesses that may not otherwise qualify for credit. SBA loans make it possible to qualify businesses more easily and provide them with more flexible terms than conventional loan options. You can get more information at http://www.sba.gov/, or talk to your local commercial banker. The SBA does not make loans to small businesses; it is a guarantor of loans made by private banks and other institutions.
  
  Talk to your local commercial bank when you’re ready to consider a line of credit or a loan, and you’ll see the range of choices available to you.
  
  © 2008 Thomas Hauck Communications Services
  
  
  
  
  
  

  Tags: Fiscal Year, Small Business Loans, Time Expenditures

• 19Mar

  Small Business Loans and Working Capital Finance Help

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  Steve Bush asked:
  
  
  The Working Capital Journal is one of several commercial financing resources which should be reviewed regularly by small business owners to assist in keeping up with the imposing difficulties posed by rapid changes in the business finance funding climate. As noted below, there have been some surprising actions taken by lenders as a direct result of recent financial uncertainties. The increasingly complex and confusing environment for working capital finance is likely to produce several unexpected challenges for commercial borrowers.
  
  The working capital finance industry has primarily been operating on a regional and local basis for many years. In response to cost-cutting that has permeated many industries, there has been a consolidation that has resulted in fewer effective commercial lenders throughout the United States. Most business owners have been understandably confused about what this might mean for the future of their commercial financing efforts, especially because this has happened in a relatively short period of time.
  
  Of course, for some time there have been ongoing complex problems for commercial borrowers to avoid when seeking commercial loans. But what has produced a new set of business finance funding problems is that we appear to be entering a period which will be characterized by even more uncertainties in the economy. With little advance notice by lenders, previous standards and rules for working capital finance and commercial financing are likely to increasingly change.
  
  With the current realization that substantial changes are likely in the near future for commercial finance funding throughout the United States, business owners should make an extended effort to understand what is happening and what to do about it. At the forefront of these efforts should be a review of what actions commercial lenders have already taken in recent months. The Working Capital Journal is one prominent example of a free public resource that will facilitate a better understanding of the responses by business lenders to recent economic circumstances.
  
  By publicizing actions taken by commercial lenders, this will contribute to these two goals, both of which are likely to be helpful to typical business owners: (1) To assist in eliminating or reducing questionable lending practices by highlighting controversial lending tactics. (2) To help business owners prepare for commercial finance funding changes. Sources that currently include The Working Capital Journal are actively encouraging business owners to describe and report their financing experiences so that they can be shared with a broader audience to assist in this effort. Some of the most significant commercial financing changes reported so far by commercial borrowers involve working capital loans, commercial construction financing and credit card financing. A notable situation of concern is that predatory lending practices by credit card issuers have been reported by many business owners. Because they have been excluded from obtaining any new business financing by many banks, some specific businesses such as restaurants are having an especially difficult time recently.
  
  One of the few recent bright spots in business finance funding, as noted in The Working Capital Journal, has been the continuing ability of business owners to obtain working capital quickly by business cash advance programs. For most businesses accepting credit cards, this commercial financing approach should be actively considered. Business cash advances are literally saving the day for many small business owners because most banks appear to be doing a terrible job of providing commercial loans and other working capital finance help in the midst of recent financial and economic uncertainties. For example, as noted above, restaurants are virtually unable to currently obtain commercial finance funding from most banks. Fortunately, restaurants accepting credit cards are in a good position to obtain needed cash from credit card receivables financing and merchant cash advances.
  
  
  
  For Commercial Finance Loans – Factoring Loans * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.

  Tags: Commercial Loans, Small Business Loans, Small Business Owners

• 06Mar

  Commercial Loan Lenders and the Bottom of the Ocean

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  Stephen Bush asked:
  
  
  surprising to most observers to see how commercial borrowers needing help with small business loans are now viewing banks and bankers in a totally different light than they were just a few months ago. Because of the sudden change in public perception, it is appropriate to consider revising a famous quote by Ronald Reagan about government solving problems to say “Banks are not the solution to our problem, they ARE the problem.” For business owners, the current process for obtaining commercial mortgages and other commercial financing has become a quagmire of frustration and confusion. After reviewing the maze of difficulties involved in the process for refinancing or acquiring new commercial loans, most business borrowers have concluded that the overall banking industry has become ineffective in providing even routine business finance services.

  The banks which have already received hundreds of billions of dollars in federal bailout loan guarantees are currently the primary target of public scorn. Even bank employees seem to feel this way. A person who was recently employed at one of these banks lost their job and did not hesitate to describe the relief because they no longer worked for this particular bank.

  Bankers might have become the new lawyers in terms of public anger and ridicule. There was a joke making the rounds a few years ago about lawyers that has been modified to include a reference to bankers. What do you call 10 lawyers on the bottom of the ocean? (A good start.) Substituting “bankers” for “lawyers” will readily provide a contemporary cultural reference about how far bankers have fallen in the public eye.

  The many good bankers who have done absolutely nothing to deserve this ridicule have their work cut out for them to restore a tarnished image. If the good bankers can be more candid in their public criticism of the bad bankers, this is likely to be an effective strategy for improving their public image. It seems increasingly clear that some banks and bankers have acted irresponsibly for many years. Other bankers are likely to be one of the best sources to correct and evaluate this misbehavior. Seeing the innocent bystanders in the banking community speak out publicly about those who caused the economy to implode will be both helpful and refreshing.

  The practical need for commercial borrowers to find reliable sources for working capital financing, small business loans and commercial mortgage loans cannot be overlooked when evaluating the growing public criticism of banks. This will be more difficult than it might initially appear for several reasons.

  First, many business borrowers could have been working with the same banker and bank for a long time. Some businesses might delay longer than they should in firing their bank because of loyalty and friendship issues.

  Second, even after a commercial borrower decides that a change is necessary, it will not be an easy matter to find an effective source for business finance services. In most cases, it will be prudent for business owners to look beyond their local area in the search for better providers of commercial finance funding.

  Third, adjusting to the fact that some of the most effective sources for working capital funding are not banks at all will take time for some business owners. For commercial financing services such as business cash advance programs, banks have played a smaller and smaller role even before the recent economic volatility.
  

  
  
  For Commercial Finance Loans – Factoring Loans * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.

  Tags: Bailout Loan, Commercial Loans, Small Business Loans

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Factoring Loan

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Factoring Loan

Invoice Factoring

Discount Factoring

Accounts Receivable Factoring

AR Factoring

Accounts Receivable Financing