One of the complaints small businesses make is Government agencies stick to bigger vendors and don’t try out new smaller companies. The reason for this, contract officers don’t like problems. If a contract gets awarded to a small vendor who proceeds to mess up the work, it means a headache and more work for theRead… Read more »
The concept of borrowing money using collateral is called debt financing. Whenever a lender is considering financing a prospective client the very first hurdle that must be achieved is determining the borrower’s credit. It is important to provide ample information within and attached to a formal loan request that speaks to the potential credit question.Read… Read more »
When it comes to sales and marketing initiatives the name of the game is to stand out. Typically the goal is to be unique and different from the crowd of competitors. But with finance the opposite is true. It does not pay to do things like carve your own path if you expect to getRead… Read more »
The extension of provisions which have the capacity to support $14 billion in loans to small businesses: Extending these Recovery loan enhancements – which increase guarantees for SBA’s largest loan program (the 7(a) program) to 90% and reduce fees for the 7(a) and 504 program – has the capacity to support $14 billion in lendingRead… Read more »
You may be unfamiliar with the term “factoring.” It is a commercial financing transaction where you can leverage finished work to gain badly needed working capital to grow the company and pay bills. Also known as Invoice Factoring, the benefit is in the simplicity of its mechanics. A company does work for their customer andRead… Read more »
The Internal Revenue Service is not a lender of last resort. By not paying taxes, you are ultimately borrowing from the Government, at extremely costly rates. The addition of compounding interest and penalties will make a bad situation much worse. Any unpaid taxes due will garner a daily interest rate, plus a monthly 5% penaltyRead… Read more »
Sounds great doesn’t it? Well that is exactly what businesses do everyday when they offer credit terms to their customers. Sure it’s considered normal to allow a customer thirty days to get their bookkeeping in order to pay the bills. But many large companies take advantage of credit terms and take 60 – 90 daysRead… Read more »
Rural Development has good news for a nation struggling to believe in the “American Dream” again. The American Recovery and Reinvestment Act funding and USDA’s Rural Development provided 50,000 guaranteed home loans to folks who were turned away by conventional sources. Reinvesting in the “American Dream” is a solid step in the recovery of ourRead… Read more »