By Lou Wallace
One of the major failings of most businesses is the lack of accurate financial information. What these business owners don’t understand is that current and accurate financial information is the first thing and lender will want to see and if it isn’t up to par, well you know the old saying about its hard to make a good impression the next time. Read the rest of this entry »
By Lou Wallace
Are you positioning your business to be first in line to move when things turn around? The economy, while showing signs of improvement is still sluggish and everyone is still trying to figure out if it has reached bottom. Small business owners are still scrambling to keep their business in the black. Read the rest of this entry »
By Lou Wallace
The magic of turning the calendar page brings new inspiration to everyone. Reflection on the past year turns to focus to the New Year. At the top of everyone’s list of questions for 2009 “How can I grow my business?” Read the rest of this entry »
By Marco Terry
The biggest challenges that many import companies have is finding a way to pay suppliers when a customer places a large order. As is common in import transactions, you must pay your suppliers using a letter of credit and then wait until the goods are delivered to your customer before your customer pays you. This creates a window of time, sometimes as long as 90 days, between the time that you pay your suppliers and the time that your customers pay you. 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 John Cammidge
When looking for a business loan you need to make sure the loan suits your needs and not just the needs of the bank or building society providing the loan. If you are looking to repay the loan with as little interest as possible then a short term loan with higher monthly payments is the best option. If you are looking to borrow a larger amount and pay the fee back over a longer period then be prepared to pay more interest over the life of the loan. Read the rest of this entry »
By Mark Lomas
It can be very difficult for businesses with less than two years of operation to obtain business credit. With the vast majority of businesses failing within the first two years of operations banks are not aggressive with lending monies to new businesses. Read the rest of this entry »
By Corey Pierce
Commercial finance is one of the many options available to entrepreneurs seeking capital to start or grow an existing business. This sort of financing is also referred to as asset-based lending, meaning that it is a secured business loan. The borrower guarantees the loan by giving up business assets as collateral for the loan. Another popular phrase for commercial finance is asset-based finance. Read the rest of this entry »
By Gregg Elberg
The Merriam-Webster Online Dictionary defines “secret” as:
“1 a: kept from knowledge or view : hidden b: marked by the habit of discretion : closemouthed c: working with hidden aims or methods : undercover (a secret agent) d: not acknowledged : unavowed (a secret bride) e: conducted in secret (a secret trial)2: remote from human frequentation or notice :Â 3: revealed only to the initiated : esoteric 4: designed to elude observation or detection (a secret panel)5: containing information whose unauthorized disclosure could endanger national security”.
Factoring is selling invoices to receive your money at the moment, instead of waiting for say, two to three months. That’s why it is one of the most important finance management tools - especially for a small company that does not create debt. Factoring does not require you to give up any ownership in your company. Read the rest of this entry »