By Lou Wallace
One of the largest differences between Asset Based lenders and Banks is the use of credit scoring. Banks credit score everything they do when it comes to granting credit. Bank loan officers must determine by credit score whether they will take the next steps to look at an extension of credit for a company. If a company or its owner does not score within the range established by the Banks loan policies the business loan is rejected. Read the rest of this entry »
By Lou Wallace
Asset Based lenders supply the same type of loans as conventional banks plus they also can be more flexible in there under writing because of the other loan products. Besides lines of credit, asset based lenders offer factoring and purchase order financing. Some also offer term loans, equipment financing and leasing, as well as short term capital loans to meet short term cash needs. Read the rest of this entry »
By Lou Wallace
This seems to be a question a lot of small businesses are asking themselves these days. The simple answer is yes. While most of the Banks are obviously experiencing financial problems, others are not and there is money available for small businesses. Most small businesses feel they need to deal with conventional Banks. This does not present a problem in good times for most small businesses but is an absolute challenge in an economic atmosphere like we are experiencing today. Banks tend to be fickle and swing the pendulum from loose credit to no credit very rapidly. When times are good banks love small businesses but let times get rough or let the small business have any type of financial glitch and the Bank is no longer a friend. They all preach relationship as long as it is one sided Read the rest of this entry »
By: Lou Wallace
There has been much to do recently in the media about the “credit crunch”. Article after article has appeared telling the general public Banks have quit lending and it will be hard for people to get credit. While we don’t need to go into the minute details of how’s and why the banks are not lending, the reality is they have shut off the credit spigot. Read the rest of this entry »
By Kent Harlan
One of the biggest challenges for an operator of a temporary staffing company is maintaining an adequate amount of working capital. At the risk of oversimplifying the situation, cash goes out quicker that it comes in. Invoice factoring is a great solution for temporary staffing companies with cash flow issues. Read the rest of this entry »
By I. Paul
Maintaining consistent cash flow is one of the biggest challenges faced by small and medium scale business enterprises today. The cash flow constraints particularly occur in businesses that offer credit facilities. According to cash flow management experts many debtors have a tendency of failing to honor their pledges to clear their debts within a stipulated period of time that may between 30 and 60 days. It is during such circumstances that a business entity may be required to rise to occasion by supplementing its operations through sourcing of funds either internally or externally to boost the cash flow. Read the rest of this entry »
By Ben Gannon
Business loans can satisfy financial needs of a trade. There is variety of purposes that these loans can be put to the use. For instance, one can borrow the amount for starting a new trade and buying for machinery, equipments, raw material etc, or the funds are accessible for expending an established trade. It is the costs, however, which the applicants must keep in mind. Read the rest of this entry »
By Cherry Lynn Bonachita
When you are applying for commercial development finance, the deal will be individually priced so there are basically no set rates. The lenders from various development finance UK will look at what you propose to do, assess the property and the appropriate works to be done, and suggest a bespoke price accordingly. Read the rest of this entry »
By Stephen Bush
Contingency planning (“always have a Plan B”) is likely to help small business owners avoid complex problems. But when it comes to commercial loans and commercial mortgages, working capital strategies often fail to include adequate attention to contingency plans and what can go wrong. Read the rest of this entry »
By Andy Burton
In any kind of finances, you have to deal with a lot of expenses. The expenses can only be met only if you have the required amount of finances. However at times, you may not have the finances and look for other options. So to help you meet the expenses in a smooth manner, lenders have carved out a beneficial loan scheme in the form of small business loans. Through these loans, small business owners can take care of all the expenses. Read the rest of this entry »
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