Nov 16

Need Capital for Your Small Business? Here’s The Scoop on

Capital No Comments »

Need Capital for Your Small Business? Here’s The Scoop on Unsecured Loans

If you are seriously seeking money in the form of an unsecured small business loan, you will be pleased to know that the process can be painless, quick and easy. Lenders know your frustrations when trying to borrow money in todays economic environment.

Youve heard it said before: It takes money to make money. Think about it. Whether you need to increase your inventory, or perhaps increase your equipment, you need money to seize business opportunities to increase your business.

Fortunately, there are places where you can obtain business loans without collateral. If youve operated your business for over a year and generate a minimum of $3,000 in credit card sales per month, you can pre-qualify for a business loan. You may barely meet these requirements or you may greatly exceed them. Each credit situation is unique. Clients that pre-qualify have a better than likely chance of receiving funding. Lenders will extend their efforts to assist you in securing a loan for free. Until you have successfully secured funds, there is no obligation and no fee.

If you are an individual or start-up business, you may be able to borrow between $10,000 and $150,000. If you are a business owner with two or more years in operation, you may be able to borrow between $15,000 and $250,000. The amount will vary based upon a number of credit attributes. No collateral or assets are required. The amount of your business loan will depend upon your credit rating and monthly credit card sales history. Its that simple!

Most lenders have a $5,000 minimum loan amount. Typically, loan amounts can be up to twice the amount of your average monthly credit card and debit card sales. Lenders are processing loan applications in about seven business days. Once you fill out the brief application (online, on the phone or via fax), youll have your money. In most instances, no financial documentation is required. These loans are available to all types of business. Most loans are for a one-year term. However, 24- to 84- month terms is not uncommon.

There is no cost to apply for these business loans; however, once your loan is approved, there is usually a processing fee that is deducted from the loan amount. Or, certain lenders will assess a loan consulting fee that varies based upon the amount of financing you receive and the type of loan program you choose. In any event, fee structures are set forth before your loan is finalized. Many loan programs have no fees so it is good to take a look at a few lenders.

The interest rates for these business loans vary, depending on your credit situation and the lender that approves you. The interest rate typically falls somewhere between prime +2% and prime +9.99%. The overall average interest rate for most clients can range from 6.99% to 13.99%. Interest rates are clearly stated and the terms of the loans are usually set out at the time of your initial application.

Payback of these business loans is easy. The lender will automatically withhold a small percentage of your daily credit card settlements until the loan is repaid. There are no checks to write, no due dates to worry about. Your merchant account processing will be transferred to the lenders nationally recognized processor with rates that are usually lower than your existing processing rates. In short, your lender will get their payment automatically, every day.

Tags: , , , , , , , , , , , , , , , , , , ,

Related posts

Tagged with: • • • • • • • • • • • • • • • • • • •
Sep 12

To Successfully Obtain Business Capital Every Business Needs A Coach

Capital No Comments »

To Successfully Obtain Business Capital Every Business Needs A Coach

If you are a business owner the task of obtaining business capital can be very daunting. Most businesses fail because they have never been taught how to obtain financing and therefore they have no clue where to begin. The Small Business Administration reports that 97% of business loan applications fail.

The importance of seeking expert assistance when setting up business credit has many business owners turning to a business finance coach to help them establish their business credit. One of the biggest mistakes made by business owners is that they attempt to obtain business financing using their personal credit. You should never use your social security number to obtain business financing. Personal credit has to be separated from your business credit.

Until your business has three separate business credit scores, any financing that your business receives will be based solely on your personal credit scores and your personal assets. A good example of this would be if you wanted to buy a home, but you had no personal credit scores. You would get declined, and funding a business is no different. You need to have business credit scores established to even get looked at for a business loan. Having business credit scores established are just a start in the finance process. There are 20 other items that must be in place before you apply for business loans.

Missing just one of the 20 items will get your business denied, says Finance Specialist James Christy. If you follow the steps in a good business finance coach you will make sure that you have all of the items completed.

For example, Lenders will deny a business loan application if the business legal name is not listed properly with the 411 Directory Assistance. Another way financing can be denied is if your business has a bank rating below a low 5 or if your business doesnt have credit files open with the three business credit reporting agencies. Most lenders now require businesses to have three good credit scores. These are only a few of the items that must all be in place first before seeking approval for funding.

The process of establishing business credit is much more complicated than setting up personal credit. There is one business credit agency that will try to charge you $500 just to open your credit file. You do not have to pay it, and a good business finance coach will show you why you dont have to pay it. A good finance coach will set you up with all three reporting credit agencies as well.

A business finance coach instructs business owners in a step-by-step format on exactly what they must do to get their business ready to be approved for financing and how and why to build the business credit scores they need to get approved. A coach will show a business how to not only build business credit, but to build good business credit that the banks and other lending agencies will use to approve your loan request. A good finance coach will typically direct you to sources for business credit cards, vendor lines of credit and for other creative forms of financing.

To find a business finance coach to help your business build excellent business credit scores you might go to your favorite search engine Google, Yahoo, or MSN and do a search for the phrase business finance coach.

Tags: , , , , , , , , , , , , , , , , , , ,

Related posts

Tagged with: • • • • • • • • • • • • • • • • • • •
Sep 02

Professional bookkeeping and financial accounting services provider help to save

Finance Help No Comments »

Professional bookkeeping and financial accounting services provider help to save 40/50 % US cost

E-accounting very well cuts small the time in use to move the time taken by in order swap between the clients and accounting firm. The perfect moving is far more resourceful and much faster. The accounting firm has dynamic access to the sourcing documents of the clients firms and can access anytime any information it requires from its clients side. E-accounting and online accounting works in internet, when you are going to work on e-accounting services, you may have more clients work or you are working for other person or an organization. The online accounting system also allows the accounting firm access to client database from any of the site. Far missing location at the a few clicks on the internet. The time responsive financial data is readily obtainable to the accounting firm.

Other then the speed and cost of services, online accounting enables better customer service and additional dependability and faith. Accounting firms lately have been bare as in cahoots with some very big clients, commit serious financial crime. In this situation the new do build more clearness too. The online accounting does also give for more opportune communication among the firm and clients. Since the client has more instant access to information and to time sensitive documents with Online Accounting practice, question and evils can be more easily identified and resolved. This translates into increased profits as well as better-off clients!!

Since the clients obtain improved service, they get more worth for the money they spend. It is usually quite cheaper for the business proprietor to outsource the bookkeeping and accounting than to hire and supervise it in-house. Investments for the business owner can be as much as 30% for some clients! Online Accounting is great for such services. The accounting firms also charge now a fee (fixed on a monthly basis) almost five times the average monthly fee (based on billable hours) they charged earlier. Generally the various online accounting processes available are modified for their users where they can choose the menu of features they like. Online Accounting is an outstanding tool for accounting and book keeping, one that is help full for both the accounting firms as well as the clients.
Do you want a solution to all your financing, accounting and bookkeeping problems? If yes then Outsourcing Bookkeeping Services. Is your target for comprehensive financing, accounting and bookkeeping outsourcing services. Bookkeeping financing and accounting are easiest process for any company can in touch of other for any time.
Your benefit to be a part of outsourcing bookkeeping services is that you will get a chance to save your valuable money and you will also be able to save your precious time that you can use for your business development. Out Bookkeeping Software has made Book Keeping processing very simple for every one.

Outsourcing Bookkeeping Services supplies business opportunities to all the companies. Whenever they are small, big, large, very large, national or international company for any services provider field. Because any types of field Container Company need accounting and financial services or some information provider resources. Professional Bookkeeping Services provides accounting & financial service to you for your business development and the development of tour business. Outsourcing Bookkeeping Services Company can understand your accounting and financial position after checking the company status and it is capable for solving and managing accounting activities.

Tags: , , , , , , , , , , , , , , , , , , ,

Related posts

Tagged with: • • • • • • • • • • • • • • • • • • •
Jul 26

Working Capital Solutions With Factoring

Capital No Comments »

Ideal Candidates for Accounts Receivable Factoring:

Any business that provides a product or service to other creditworthy businesses and is constrained by their day-to-day cash flow situation.

Does your business need:

Cash to Cover Payroll?

Working Capital to Fuel Growth?

Help with Cash Flow Problems?

Help because of Bank Turn Downs or refusal to extend current lines?

New Equipment to Grow?

What is factoring?

In a traditional factoring arrangement, a company actually sells its receivables to another company (a factor) at a discount. After the sale, the receivables balances are carried on the factors balance sheet since title has passed. Because the factor then owns the receivables, it generally provides all the required credit, collection and accounting services necessary to collect the receivables, including assumption of the ultimate loss exposure from the client debtor. The important difference between factoring and asset-based lending is ownership. In factoring, the receivables are purchased and owned by the factor. In asset-based lending arrangements, accounts receivable are pledged to the lender as security for the loan, but the borrower retains ownership and complete control of the receivables and the value of the receivables remains on the borrowers financial statement.

Keeping the cash flowing is a challenge for all businesses. Does your company face cash flow challenges because of slow paying customers? Have you been forced to decline new opportunities because of cash flow issues?

As every business owner knows, sales alone do not measure the profitability of a company. For example, sales may be increasing, but a company may have to wait weeks or even months for payment. During that time, your company cannot purchase materials for more orders, meet payroll, or other basic operating expenses. The solutions may be Accounts Receivable Funding provided through Diversified Funding Services, Inc. Accounts Receivable Funding is quickly becoming a popular choice for its flexibility and rapid injection of needed capital.

Why Accounts Receivable Funding is a Popular Choice in Todays Business World

Accounts Receivable Funding or factoring has been in existence for several decades. Today, virtually any-sized business that extends credit to other businesses for goods or services can enjoy the many benefits of Accounts Receivable Funding.

Simply stated, Account Receivable Funding is the exchange of creditworthy commercial accounts receivable for an immediate injection of working capital. When an invoice is generated, it may be purchased with an advance of anywhere between 75 to 90% of the net invoice amount. When your customer pays the invoice, you will receive the reserve portion minus a nominal servicing fee.

Why Accounts Receivable Funding Makes Financial Sense

Accounts Receivable Funding offers many Advantages:

Initial funding is typically available between 5-7 business days upon receipt of completed formal agreements, and then all future advances are funded within 24 hours.

Accounts Receivable Funding does not create a financial liability on your companys balance sheet and generally no other collateral (outside of the receivables) is required.

The amount of funding available to you is only limited by the creditworthiness of your customers.

Accounts Receivable Funding focus on the creditworthiness of your clients instead of your financial history.

Accounts Receivable Funding allows quick access to working capital, instead of waiting 30, 60 or 90 days to receive payment from your customers, money is immediately available on demand.

Accounts Receivable Funding Programs have been generally designed with the following criteria in mind.

Your company must be providing a product or service to other credit worthy businesses (no consumer sales)

Your company must be selling on terms

Your company must be billing in arrears (no pre-billing)

Your company must have minimum monthly sales of at least $10,000 or annual sales of $120,000

Your company is not required to be in business for any length of time

Your company should have the capability to generate financial reports (A/R and A/P aging reports, etc.)

Your company may have current and/or historical losses or a deficit net worth position

Ideal Candidates

Start-ups
Companies suffering financial setbacks
Service Companies
Companies with seasonal orders
Mature companies seeking cash flow support
Companies seeking credit assistance
Businesses experiencing rapid growth
Non-bankable businesses

An example of the application process:

1. Complete the application
2. Provide your most recent and detailed accounts receivable aging report
3. Provide your most recent and detailed accounts payable aging report
4. Provide an actual sample invoice
5. Provide a copy of your Articles of Incorporation/d.b.a. filing
6. Provide a copy of your customer list
7. Some factoring companies require financial statements, others do not.

Preferred Industries

Service
Temporary Staffing
Security companies
Manufacturing
Transportation
Textile/Apparel
Computer Consulting
Distribution Companies
Printers
Sub-Contractors
All other Industries
Any company that provides a business to business product or service to another credit worthy business!

Thanks for reading!

Tags: , , , , , , , , , , , , , , , , , , ,

Related posts

Tagged with: • • • • • • • • • • • • • • • • • • •
Nov 26

The Secret To Locating Startup Capital : An Internet Business

Capital No Comments »

The Secret To Locating Startup Capital : An Internet Business Plan

Any individual thinking of starting his or her own business is going to need the funds to get off the ground. Procuring funds can be difficult, as financial institutions and investors want to know where there money is going to be put to use and whether the business they invest in has potential. Obtaining loans and funding isn’t guaranteed, but having a business plan to show potential investors is a good way to increase the chances.

The business plan serves a few basic purposes. It serves as an internal document for your company, helping you to maintain your focus and work toward your goals. It also serves as an introduction to your company. The most important function of the business plan, for those just starting out, is that of a marketing tool. The business plan can convince investors that your company is a worthwhile investment.

The specifics of your business plan will vary according to your industry and your personal style. However, there are certain key elements that should be included in every plan. The most important elements are, perhaps, the “Four P’s”: Product – What you are planning to sell; Price – How much you will sell it for; Place – Where you will sell it; and Promotion – How you are going to market it. It is also crucial that your business have written vision and mission statements. The difference between the two is subtle but important. A vision statement can be seen as an overall goal towards which the company will strive, and often begins with the words “To Be.” The mission statement can be seen as the practical means of achieving the vision.

It is extremely important that your business plan include a financial section. Utilizing available software options, it is possible for a new business owner with no background in finance to write this section himself. However, for right-brained people, it can be the most difficult section. It is always a good idea to have this section reviewed by an accountant. In this section, you will utilize a variety of tables to show the expected profits and losses of the business over time. Be sure to take into account seasonal fluctuations, such as the increase in retail sales during the Christmas shopping season.

There is a wealth of information available on the internet to help you write your business plan step by step. It is important to remember the purpose of a business plan, which in this case is to help you obtain funding. In a sense, you must justify the existence of your company in its business plan. Investors want to know whether they can expect a return on their investment, and they will look to your business plan to find that out.

It should go without saying that you should never attempt to pad the numbers in your business plan. Savvy investors will see through the charade, and you will not only fail to receive money from them, but you could find yourself blacklisted, unable to secure funding from any source. At the same time, investors recognize that your projections are merely an educated guess, so if you are careful to be as accurate as possible, there is no need to worry.

While funding is never guaranteed, a solid, well-crafted business plan will go a long way toward convincing investors that your business idea is sound. Reasonable estimates of your current and future financial picture, coupled with a fine-tuned vision, should eventually lead you to the capital that you require.

Tags: , , , , , , , , , , , , , , , , , , ,

Related posts

Tagged with: • • • • • • • • • • • • • • • • • • •
preload preload preload