Stake for Small Business Owners this Election Season

What’s at Stake for Small Business Owners this Election Season

19:40 29 June in Blog

Stake for Small Business Owners this Election SeasonU.S. presidential elections are a marathon, not a sprint, and this race has been exceptionally grueling—both for the candidates and the public at large. But more concerned than the average U.S. citizen are small business owners, who have responded to the uncertainty by delaying new hires, forgoing new equipment orders, and avoiding all but the most essential investments. We’ll tell you why confidence is slipping and what small businesses can do to buck the trend.

An Unprecedented Election Season?

Every presidential election captures the nation’s attention, but this year’s race seems to have no precedent. Whereas most Americans tune into the race after the primaries are over and the Republicans and Democrats have chosen their respective nominees, both parties saw unconventional candidates challenge the status quo during the primaries and capture the attention—and votes—of millions. Now that the primaries are over and Donald Trump and Hillary Clinton are set to face off in the general election, the future and the direction we’re heading remains as unclear as ever.

Small Business Owners Uncertain

According to a survey conducted by the Wall Street Journal and Vistage Worldwide Inc, one-third of business owners report that uncertainty over the coming election is negatively impacting their business.

Though small business owners are responding in different ways, the overarching theme is this: they have opportunities to grow their businesses, but they’re hesitant to spend the money. It’s not just the election causing concerns—there’s also global concerns, like the recent exit of the U.K. from the European Union, which threw global markets into a brief tailspin and the tenuous state of the Chinese economy. Closer to home, there’s also uncertainty over the timing and impact of future interest rate hikes.

Small-Business Confidence, by the Numbers

Given the picture we’ve just painted, it’s no surprise that small-business confidence fell to its lowest level since November of 2012 this month. Even industries that consider themselves ‘immune’ to political drama, like real estate, construction and development, are seeing activity dwindle. In the end, small businesses off all types face higher cost of capital than their larger counterparts, and that’s why they bear the lion’s share of the burden when uncertainty prevails and consumers reduce spending.

Luckily, there are several tools that small businesses can use to seize opportunities for growth—regardless of the prevailing political and economic climate.

Capstone Helps Small Businesses Boost Working Capital and Grow

For qualified clients, Capstone provides purchase order factoring, single invoice factoring, and full-contract factoring for work performed under contract with credit-worthy accounts. We have highly experienced professionals on staff to facilitate the purchase of work in progress and progress billing-related accounts receivable. Please visit our homepage or contact us directly for more information.

How to Grow Business in an Unnatural Economy - Capstone

How to Grow Business in an Unnatural Economy

21:58 15 June in Blog

How to Grow Business in an Unnatural EconomyStalled growth, disappearing jobs and a sense of foreboding are the defining characteristics of today’s economy. So, what or who is to blame? According to one theorist, the process of “creative destructions,” whereby the death of one business or industry gives rise to another, is failing. We’ll tell you why it’s happening and show you how Capstone’s single invoice and full-contract factoring allow businesses to grow along with demand, avoid taking on additional debt, and improve their balance sheets organically—even in an economy stuck in limbo.

The Numbers

A sobering job report released earlier this month showed the creation of only 38,000 new jobs —124,000 fewer than had been predicted — which is the lowest monthly total since September 2010. Furthermore, the Bureau of Labor Statistics reported that 94,708 Americans were not participating in the labor force during the month of May, bringing the participation rate to 62.6%.

A Limited Recovery

There’s no doubt that we’ve recovered from the Great Recession. The stock market has been on a 7-year bull run—although it has been tested recently. If you’ve tuned into the rhetoric coming out of the presidential race, you’ve heard the conviction that the recovery has been rather one-sided—that the gains of the last 7 years have benefitted a select few while the majority of the population has been left on the sidelines. No matter where you stand politically, the notion of a limited recovery seems to be supported by an analysis of Census Bureau data.

A Tale of Two Counties

According to the Census Bureau, the net increase of new business establishments is just 2.3% since 2010. Compare that with a 6.7% net increase during the 1990 recovery and a 5.6% net increase during the 2000 recovery. What’s worse—over half of the 166,000 new businesses formed in the United States since 2010 are located in just 20 counties. In short, a select few geographic areas are prospering, and the rest of the country is losing businesses and losing jobs at an alarming rate.

Aggressive Oversight and Misplaced Regulation

Touted as the culprits of the financial crash, banks and financial institutions, the drivers of growth since time immemorial, have been forced to tighten their lending requirements. The unintended consequence, of course, is that businesses’ traditional sources of credit have dried up. An enduring irony of the Dodd-Frank Act, which among other things was designed to limit the size of financial institutions, is that its burdensome requirements have actually forced many small community banks out of business—making the Big Banks BIGGER, not smaller.

If a lack of funding weren’t bad enough, businesses are now contending with rising federal regulatory compliance costs and state licensing requirements. And here the bitter irony continues. The new wave of regulations have disproportionally harmed small businesses—the symbol of the American Dream and American industriousness—not the large corporations the regulations were meant to control. A report ordered by the U.S. Small Business Administration found that the per-employee cost of federal regulatory compliance was $10,585 for companies with 19 or fewer employees. Companies with 500 or more employees, by contrast, paid an average of $7,755 per employee to stay compliant. Added to compliance costs are a rapidly multiplying number of state and local licensing requirements. 5% of employees required certificates or licenses in 1950. Today, the number stands at 30%.

A Metaphor for our Economic Ecosystem

There are many apt metaphors that describe what’s happening to the U.S. economy, but one of our favorites has to do with Smoky the Bear and forest fire prevention. Forest fires aren’t pretty, but they’re a natural and necessary phenomenon. They clear away the old, dead wood and give new generations of plants the space they need to grow. If the old, dead wood remains propped up for too long, the ecosystem ends up with less growth, less diversity, and a few individuals soaking up all the sunlight. And when a fire does finally come along, it’s much bigger and more destructive than it ever needed to be.

Boost Working Capital with Capstone

Capstone gives small and midsize businesses that are negatively impacted by Dodd-Frank and other constrictive legislation the working capital needed to seize opportunities for growth. For qualified clients, we provide single invoice factoring, construction factoring and full-contract factoring for work performed under contract with credit-worthy accounts. We have highly experienced professionals on staff to facilitate the purchase of work in progress and progress billing-related accounts receivable. Please visit our homepage for more information.

Interest Rates Predicted to Rise - Capstone Explained

U.S. Economy Picking Up Momentum in Q2; Interest Rates Predicted to Rise

19:56 27 May in Blog

Interest Rates Predicted to Rise - Capstone ExplainedAfter another harsh winter, the American economy is stabilizing and beginning to shrug off concerns of a prolonged slowdown or recession.

According to the latest economic gauges, industrial production is increasing, inflation is firming, and the housing sector is continuing to pick up momentum. All of these factors, combined with data reflecting retail sales rebounds, job gains, and rising consumer confidence, point to improved — though still less than spectacular — growth potential for the second quarter of 2016.

Interest Rates

Fed officials afraid of financial market volatility and poorly performing overseas economies have kept a steady hand on short-term interest rates throughout 2016. A domestic growth rebound in Q2 could be just the inspiration they’ve been looking for to raise rates this summer. Their next opportunities come at the policy meetings scheduled for June, July, and September.

John Williams, President of the San Francisco Fed, recently told the Wall Street Journal that the data is starting to make a strong case for rate increases not just in June, but potentially more than once in the next few policy meetings.

Despite Positives, Some Forecasters Remain Cautious

First quarter 2016 gross domestic product (GDP) increased only 0.5 percent over Q1 2015, but growth might be poised to accelerate.

Since the end of the recession, Q1 GDP growth has consistently been weak, followed by a rebound in Q2. The latest reports of modest but definite growth in highly important sectors would suggest that the same pattern is about to repeat itself in 2016.

Macroeconomic Advisers, a forecasting firm, estimates that GDP will expand at a rate of 2.3 percent this quarter. The Federal Reserve Bank of Atlanta estimated an even higher growth rate of 2.5 percent.

However, it’s not all sunshine and roses. Despite all the positive data starting to roll in, many forecasters are still leery about the economy’s current health as well as its general outlook for the future. Earlier in May, a Wall Street Journal survey of economists revealed an estimated 20 percent chance of a recession taking place in the U.S. sometime in the next 12 months.

Boost Working Capital with Capstone

For qualified clients, we provide purchase order factoring, single invoice factoring and full-contract factoring for work performed under contract with credit-worthy accounts. We have highly experienced professionals on staff to facilitate the purchase of work in progress and progress billing-related accounts receivable. To learn more, please visit our homepage.

Sluggish Start Becoming a Pattern for U.S. Economy - Capstone Financing

Sluggish Start Becoming a Pattern for U.S. Economy

18:45 15 April in Blog

Sluggish Start Becoming a Pattern for U.S. Economy - Capstone FinancingThe U.S. economy’s sluggish start to the year is validating the wait-and-see approach the Federal Reserve has taken with raising interest rates.

Business investments, constrained by falling corporate profits and diminishing exports, and held back by the strong dollar, have both played their role in the disappointing start to 2016.

Spending-cautious American households are doing their part to stymie growth. According to figures released by the Commerce Department, retail sales dropped 0.3 percent in March. It was the third straight month without gains in retail spending.

Is This Just a Typical Slow Start?

It’s not uncommon for the American economy to lag behind projections in the first quarter of the year. Gross domestic product (GDP), one of the key measurements of overall economic success, either fell or grew at disappointing rates in both 2014 and 2015. Second, third, and fourth quarters brought much better returns the last two years, and many expect the same to happen in 2016.

Forecasts for the Rest of 2016

GDP forecasters believe the economy will resume recovery throughout the rest of 2016, but growth rates are not expected to be strong. J.P. Morgan Chase has predicted a growth rate of 0.2 percent, while Nomura says 0.7 percent and Macroeconomic Advisers 0.9%.

Following a 1.4 percent growth rate in the closing month of 2015, which itself was viewed as a disappointing figure at the time, Fed officials are likely to remain on the cautious path they’ve already been traveling with interest rates.

In December, the central bank raised the benchmark rate for the first time in nearly 10 years. They have stopped short of further changes due to financial market volatility and global uncertainty. These external forces play a bigger role than domestic economic growth in affecting the central bank’s decisions moving forward.

Some Positive Indicators

The labor market has been one source of good news for the economy. Directly following a lull, more than 1.5 million jobs were added over the past six months.

Boost Working Capital with Capstone

For qualified clients, we provide business funding solutionssingle invoice factoring and full-contract factoring for work performed under contract with credit-worthy accounts. We have highly experienced professionals on staff to facilitate the purchase of work in progress and progress billing-related accounts receivable. To learn more, please visit our homepage.

Capstone Predicts Recession Risk Growing

Economists and CEOs Agree: Recession Risk Growing

20:19 15 February in Blog

Capstone Predicts Recession Risk GrowingAn increasing number of economists and corporate leaders say the risk of the U.S. dipping into a recession is rising. More than anything, they have pointed to the global growth slowdown and convulsions in financial markets.

According to the Wall Street Journal’s monthly survey of economists, the average estimate of odds of a recession starting in the next twelve months jumped to 21%—double the count from a year ago and the highest since 2012. Economists at Bank of America Merrill Lynch place the chances even higher at 25%.

Despite positive marks in many economic indicators, deteriorating U.S. confidence reflects concerns about slumping foreign economies.

Fed Chairwoman Testimony

In recent testimony before the Senate Banking Committee, Fed Chairwoman Janet Yellen said that the central bank is monitoring global financial markets, but reiterated her opinion that an economic contraction is not imminent. She emphasized that the Fed is keeping a flexible outlook on interest rate changes, but recent developments have not downwardly shifted the risk balance.

Business Concerns

The overall sag in financial markets, however, is feeding into concerns from business leaders. Despite a quarterly profit surge, PepsiCo CEO Indra Nooyi cautioned of a “delicate” recovery. Cisco Systems CEO Chuck Robbins said some corporate customers have started halting non-essential purchases.

Market and corporate sentiment have slid recently, and some, but not all, economic indicators have followed suit. Decreases in both oil drilling and output from utilities have prompted the decline of industrial production, and employment in the oil sector has slipped sharply. A similar decline in energy production, coupled with a strong American dollar, has put pressure on manufacturers. Factory activity decreased in January for the fourth straight month, according to the Institute for Supply Management.

Positive Signs

On the contrary, household spending continues its rise, up 3.2%. While incomes have grown slowly, the dive in gas prices means incomes are outpacing inflation. Labor market barometers show healthy readings, including the 4.9% unemployment rate, down from 5.7% a year ago, and the underemployment rate which has fallen to 9.9% from 11.3%.

Economic activity has remained stable despite market turbulence, according to Ram Bhagavatula, an economist at Combinatorics Capital, a hedge fund. The evident disparity presents a conundrum for the Fed, which projects continued modest economic growth and gradual increases in interest rates and inflation. The Fed will have more to say about its growth outlook after its next policy meeting in mid-March, but it is paying attention to foreign economic developments that pose risks to U.S. growth.

By historical standards, the current economic expansion has lasted a long time. Since World War II, the average economic expansions have lasted for just under six years. The current expansion, beginning in June 2009, is now over 6.5 years old.

Capitalize on Growth with Capstone

Whether we’re simply seeing a market correction or a full-fledged recession, Capstone is here to help. We help businesses and subcontractors take advantage of opportunities for growth with diverse business funding and financing options. For qualified subcontractors, Capstone provides single invoice factoring for work performed under contract with a creditworthy general contractor. Capstone has highly experienced construction professionals on staff to facilitate the purchase of construction-related accounts receivable. For more information, read our blog, visit our Capstone Capital Group homepage, or contact us today.

Winners and Losers from Fed Rate Increase - Capstone Financing

Winners and Losers from Fed Rate Increase

18:32 22 December in Blog

Winners and Losers from Fed Rate Increase - Capstone FinancingThe last seven years have been painful for consumers, homeowners, small business owners—indeed for all Americans. The financial crisis of 2007-2008 was the worst economic downturn in the United States since the Great Depression in the 1930s. It was caused by a number of factors, including a burst housing bubble, the selling of high-risk financial products, regulatory failures, and the drying up of bank and insurance liquidity. The result was thousands of closed businesses, evictions, and foreclosures, as well as a decline in consumer wealth in the trillions of dollars. Globally, the Great Recession was the worst financial disaster since World War II. Throughout it all, Capstone worked with small businesses to provide financing when they needed it most. Today, we’ll tell you what you need to know about the Fed increase.

Fed Interest Rates

In response to the recession, the government enacted legislation like the Dodd-Frank Act and lowered interest rates. As of December 16th, the Federal Reserve made it official that it is raising key interest rates for the first time since 2006. With the Fed creating a new Federal Funds rate target of 0.50%, all kinds of lending will be affected, from business loans to auto loans, mortgages, and credit card rates. Many are wondering how the long-anticipated rate increase will affect small businesses. Who are the winners and losers? The lending experts here at Capstone would like to give their two cents.

The Winners

When it comes down to it, the winners are the big banks. They will charge more interest for their loans, but not pass on the increase to any of the savers. Savers are unlikely to receive any significant difference in the interest paid to their accounts. The investment firm Charles Schwab Corp., for example, made $1.8 billion in net interest revenue over the last year. Net interest revenue refers to the difference between interest earned on lent assets and interested paid on deposits. With short-term interest rates higher, companies like Charles Schwab are likely to see a huge increase in net interest revenue. When interest rates were low, big money-market fund players like Fidelity, Goldman Sachs, and Morgan Chase & Co. were forced to eliminate many investor fees—resulting in hundreds of millions of dollars in losses. If the rate continues to rise over the next year above .50%, many in the money-market fund industry would be able to remove the damaging fees.

The Losers

The stock market has been falling in recent days. Liquidity in the market was already on the decline prior to the interest rate adjustment, and now it’s likely to decline even more. The losers are those who invest in equities and long-term bonds. Some also predict that the increase will negatively affect homeowners with mortgages, but this is probably overstated. Mortgages are long-term loans, and they are more heavily affected by economic growth and inflation expectations than short-term rates.

Working with Capstone

Capstone works with small businesses, subcontractors, licensees, and distributors with accounts receivable factoring, PO financing, and trade finance solutions. We have a diverse array of underwriting strategies that allow us to lend based on the creditworthiness of our clients’ customers, not our clients. For more information, please visit our homepage.

Interest Rates on the Rise

16:52 15 December in Blog

UntitledThis week, the Federal Reserve indicated that interest rates will be raised next year. In a statement issued from the policy meeting, the Federal Reserve said monetary policy will be “normalized.”

Since 2008, rates have hovered near zero, with the Federal Reserve offering consistent assurances that rates would remain near zero to contend the economy’s low inflation and high unemployment rate. The proposed normalization won’t happen overnight. Even with increased rates, the flow of the economy will still be considered, with rates beginning to rise mid-2015.

But, not everyone is in agreement. According to The Wall Street Journal, “Dallas Fed President Richard Fisher said rate increases might need to come sooner than the Fed plans. Minneapolis Fed President Narayana Kocherlakota said the Fed isn’t putting enough weight on the risks of low inflation. And Philadelphia Fed President Charles Plosser wants the Fed to stop giving time-linked guidance about its rate plans.”

Rates are predicted at anywhere from 0.375% to 4% by the end of 2016, with no solid figure agreed upon. All except two policy makers noted that they predicted an increase of short-term interest rates in 2015. Their median estimate put short-term borrowing rates at 1.125% in the next year. For 2016, the median rate estimate was 2.5% and for 3.625% for 2017. Of course, this is all gradual and dependent on the growth of the economy.

While the labor market has improved, with a lower unemployment rate, inflation could alter plans. The Labor Department reported recently that consumer prices dropped 0.3% in November. This is marked as the largest one-month drop since the massive financial crisis in 2008. Federal officials have confidence that this drop, as well as the recent oil declines, won’t completely hinder their efforts. Inflation developments will be watched carefully, and we’ll monitor developments from the next policy meeting to take place January 27-28.

Capstone Capital Group, LLC. understands the importance of these policy meetings and what higher interest rates mean for you. Capstone offers Single Invoice Factoring (“Spot Factoring”) as a solution.   For years, we have helped organizations get the immediate cash they needed without the typical red tape that most banks require. For more information about Capstone and our Single Invoice Factoring and purchase order factoring give us a call today at (212) 755-3636 and speak to a representative.

Regulators Remain Unconvinced of Big Bank’s Ability to Safely Wind Down in a Financial Crisis

19:14 15 August in Blog
 As part of the 2010 Dodd-Frank regulatory scheme, banks are required to submit an annual “living will” detailing, among other things, the bank’s operations and exposures, in addition to a plan of how the bank could be dismantled without relying on tax payer funded support in the event they reach a point of potential failure during a financial crisis.
 
After a review by the Federal Reserve (the Feds) and the Federal Deposit Insurance Corporation (FDIC) of recently submitted bankruptcy plans of eleven of the nation’s largest banking institutions, the Feds and the FDIC chastised the plans as being “unrealistic or inadequately supported” and that the plans “fail to make, or even identify the kinds of changes in firm structure and practices that would be necessary to enhance the prospect for an orderly failure.”
 
Regulators set a time frame for these banks to address the apparent deficiencies in their plans by July 2015 or face tougher capital requirements, growth restrictions, and even go so far as to break up the bank if they are unable to make significant progress. 
In order to avoid harsher rules and possible dismantling, regulators say banks can take steps to make their bankruptcy plans by establishing a rational and less complex legal structure, essentially showing they can quickly produce reliable information about their exposures, and amending derivatives contracts to make them easier to bring through bankruptcy. 
 
These actions by regulators gives a clear sign they believe that banks aren’t doing enough to insulate themselves and protect the tax payer in the event of a future financial crisis. With increased regulation and scrutiny looming over the banking industry, which isn’t likely to ease up any time soon, banks are feeling the pressure to restrain growth by curbing lending practices.
 
 Some borrowers, like small business owners, may have a more difficult time obtaining the necessary financing they need to maintain and grow their business.  Unfortunately, the focus on unwinding banks and compliance with regulations takes away resources that can be used to help finance small businesses.  Capstone Capital Group, LLC has funding solutions that can get you the financing the big banks can’t provide. 
Capstone Capital Group, LLC has been helping small to mid-sized businesses for years obtain the necessary working capital they need to sustain and grow during uncertain economic times without all the red tape you normally get from most banks.  Capstone Capital Group, LLC specializes in Business finding solutions, Single Invoice Factoring (“Spot Factoring”) for firms in need of immediate cash. Spot Factoring provides flexible, no contract invoice selling in exchange for working capital from Capstone Capital Group.

 

Pulling Back the Reigns of Growth – Small Banks Restrain Progress Fearing Costly Regulations

14:55 08 August in Blog
Banks have come under intense scrutiny in recent years following the financial crisis that began in 2007.  The regulatory pressure doesn’t seem to be letting up anytime soon as regulators attempt to reign in banks designated as “systemically important.”  
 
According to regulators, systemically important banks are those which report assets of more than $50 billion on average for four quarters in a row.  Once a bank has achieved this status, banks are required to comply with, among other things, stringent capital requirements, submit to yearly “stress tests” and to create processes for the winding down of a bank in the event of a crisis.
 
The purpose of placing a $50 billion asset threshold amount, according to regulators, is to keep a closer eye on banks whose potential problems could endanger the broader financial system.  However, some critics within the banking industry argue the threshold is too low and that banks who come close to that amount are far from “financial giants”.  This issue has caught the eye of Federal Reserve governor Daniel Tarullo, who stated in a speech that it might make more sense to increase the threshold from $50 billion to $100 billion for applying certain rules.  The suggestion being that the “stress test” process seems unnecessary for banks under $100 billion. 
 
As a consequence of these stringent and costly regulatory requirements, some small asset banks like New York Community Bank (NYCB), whose reported assets in the first quarter of 2014 was $47.6 billion, has come out with a statement that it is restraining its lending growth citing loans amount to assets.  If other small banks, like NYCB, who are coming up to the $50 billion threshold limit decide to take a similar approach and restrain growth by curbing its lending practices, some borrowers, like small business owners, may have a more difficult time obtaining the necessary financing they need to maintain and grow their business.  Fortunately, Capstone Capital Group, LLC has the solution. 
 
Capstone Capital Group, LLC has been helping small to mid-sized businesses for years obtain the necessary working capital they need to sustain and grow during uncertain economic times without all the red tape you normally get from most banks.  Capstone Capital Group, LLC specializes in Purchase Order factoring, Single Invoice Factoring (“Spot Factoring”) for firms in need of immediate cash. Spot Factoring provides flexible, no contract invoice selling in exchange for working capital from Capstone Capital Group.  

Fed Up or Fed Down?

19:37 08 May in Blog
On May 7, 2014, Fed Chairwoman, Janet Yellen, testified before Congress and provided information on a host of issues relevant to all of our businesses.
 
Ms. Yellen found that business is rebounding at a fast pace and making up for the loss of business in the first quarter of 2014 which was down primarily due to the harsh weather experienced during that time.
 
Ms. Yellen would not comment on when interest rates would be raised.  However, the point is that interest rates will continue to remain low for the foreseeable future.  Obviously with budget deficits as large as they are within the Federal Government, it will be difficult to pay a higher rate on government debt should rates rise with so much short-term government debt outstanding.
 
Ms. Yellen was bullish on the stock market and indicated that there is no bubble as a result of the Fed’s policies.  She did indicate that certain sectors may be reaching historic highs, but there is no risk to the overall financial system or the stock market from these pockets that may have higher than normal price-earnings ratio and valuations.
 
Ms. Yellen extolled the benefits the Fed’s policy has had in the housing market.  She equated the Fed’s policy to bring back wealth to many citizens who are homeowners but were once underwater as a result of the financial crisis.  She expressed concerns about the job market because the unemployment rate, when combined with the labor force participation rate, demonstrates that the employment market is not healthy.  She sites that those unemployed for at least six months and those working part time but would prefer a full-time job, are at historic highs.
 
What does this mean to you as a small business owner?
  • Many opportunities are available to grow your business; the economy is making up for lost time due to the weather related slowdown in the first quarter of 2014.
  • There are plenty of workers out there looking for full-time jobs that pay well.  The labor force will support your expansion.
  • Low interest rates means that banks will not be taking on risks associated with funding to small businesses.  
Just for fun, what does this mean to you as a person?
  • If you don’t own a home maybe it’s a good time to buy one if you can afford it.
  • If you’re a gambler, try your hand at the stock market, as the Fed will continue to support it with excess liquidity.
Now is the time to arrange a spot factoring facility with a company like Capstone Capital Group, LLC for your working capital needs to fund your expansion and increased staffing costs.
 
To view the full hearing click here

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