Oftentimes, when a business owner is seeking financing, they do not understand the difference between dealing with brokers and lenders. There are advantages, and disadvantages to working with each; however, one must understand how each functions to understand what type of deal they will be getting in the end. Dealing with financial brokers When you are dealing …
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One of the most important documents you should have is a business financial plan. A carefully crafted, well-thought out plan can help you determine your current, and future cash needs. In addition, most businesses will be unable to borrow money, factor contracts, or establish lines of credit unless they can provide a financial plan to their lender. …
A Secured Business line of credit can provide you with capital, but, more importantly, they provide flexibility. Unlike a traditional loan, when you use a line of credit, you are in control of how the funds are spent. In addition, lines of credit typically carry a lower interest rate than credit cards, offer low monthly …
One of the most important things you should verify is whether the factoring company understands your business. Keep in mind, many times, you need more than simply invoice factoring; if you need additional services, finding the right company is more important. Take the time to discuss not only the field you serve, but also discuss …
Avoid These Four Mistakes When Choosing A Factoring Company Read More »
Some of the leading scientists have estimated the cost of Hurricane Harvey trek through Texas could result in some $160 billion in damage. Homes, businesses and ports suffered serious damage; the rebuilding process could take months, and in some cases, could take years. Many Firms Offering Donations While many financial, and payment firms have currently stepped up and offered …
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Some business owners are uncomfortable about the idea of factoring their invoices; however, they are more uncomfortable about taking on debt. This means when a company is facing a cash flow problem, wants to hire additional staff members, or needs material to fulfill a large order, they may not know where to turn. One of …
Once you have decided to use factoring for your cash-flow needs, one of the most important things you will have to do is communicate with your customers. Once you have turned over your invoices to a factoring company, your customers will receive a document called a Notice of Assignment indicating you have turned over the …
Explaining Your Decision to Use Factoring to Customers Read More »
Publicly traded banks recently hit record stock prices. The sudden increase in value was dubbed the “Trump Trade” because investors believe his policies will be positive for a growing economy and banks would—and should—be at the center supporting such an economy. Since the election in November, bank stocks have risen around 24% and continue to …
The Crisis Facing Community Banks and the Small Businesses Who Rely on Them Read More »
One of the many reasons business owners are unable to grow their business is because they have too much existing debt. This can mean they are unable to borrow the funds they need to expand. Whether expansion involves new equipment, hiring new employees, or upgrading facilities, strong cash flow, and lower debt makes a difference. Evaluate Your Current Debt The first step in getting your debt …
Doing business internationally is risky. Suppliers and buyers alike face risks; for the buyer, it means putting up money without a guarantee of delivery and for sellers, shipping products without cash upfront could mean they lose product to non-payment. Cash against documents (CAD) is used to ensure an importer pays for goods before they are in receipt of …
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