Finding the Right Method in New Car Financing October 29, 2009
Posted by janey in : business loans , comments closedIt always thrills when you buy a new car. And I say event, because when it comes down to it, that is what it is.? There is the preparation for the new car that starts sometimes months ahead, where you get your family and home ready for the arrival of the new car. Before the car comes home, there are a few formalities that needs to be sorted out such as insurance etc.
If you do not have enough money in your hand, then finding a method for financing your car is one of the first challenges you face. New car financing is not an easy task, as it is not a small amount of money that you will need for the new car financing.
Since a lot of us do not inherit a family fortune and buy a car over the counter, many of us need to look at a way of financing the car. There are other ways that new car financing can be taken care of as well, thankfully.
There are banks that offer leasing or loan facilities to help in buying a new car. Although getting a vehicle loan or a lease from a bank is relatively easy, there are disadvantages such as height interest rates. If you have a steady income and able to manage the monthly installment for the loan or the lease, then a car financing solution is one of the best ways to go. In addition to that, there are other financing institutions offering car financing solutions. If you are lucky, getting finances done through the family members is the best way as you only have to pay them the capital back.
There are some companies that offer loans to their employees at lower interest rates, and so new car financing could be done that way too. In such case, the loan installment will be deducted from the salary every month and you do not have to go through the hassle of paying it separately and managing another financial involvement with another party.
A new car is sometimes a necessity, for example if you family is going to grow big, or if you have a job that requires you to be on the road for hours on end. In these instances, finding new car financing can seem a bit tedious, but the effort will be worth it at the end.
This article is written by the author for helping you who want to get more information about car finance. There are many other articles that are written in different topics. These topics can be found on clawfoot tub accessories site where you can get lists of the best claw foot bath tubs there.
How Accounts Receivable Factoring Assists Small Business October 15, 2009
Posted by janey in : business loans , comments closedHello I am Phyllis Rector and I would like to tell you an anecdote about a business owner that we have assisted. At Interface Financial Group, we quickly get people funded - that’s something that we are really proud of. Here in Arizona, I am dealing with a staffing organization. He actually staffs electricians to electrical contractors. Even if he doesn’t work under a sub-contract agreement, he is still considered as being in the construction industry.
This guy had been making 8 million dollars but in 2008, just like the rest of the construction industry, his business fell off. So, I spoke with him. He liked our service. He is particularly happy about the use-it-as-you-need-it feature of our service. No minimums as well as maximums - not even time commitments.
However, he is adamant on the idea of having to tell his customers that they were to sign on our notification of sale and consequently have to pay us directly. For him, this is like saying that he is in deep financial debt.
Well, to the unfamiliar, let me say that accounts receivable factoring has been here for around 4000 years already. it’s not a new concept in financing - and businesses with a larger customer base may be more familiar with factoring. So, let me just tell you. Boeing, you know the airplane manufacturer, their suppliers factor their invoices and how do I know, because one of their suppliers came to us for a spot factoring for a really big order.
This guy contacted me on a Wednesday afternoon, because he does weekly payroll on a Friday. So, I went out to meet him on Thursday morning; we got the paper work done. I got his notification signed and I was able to wire him money by 1pm of Friday so that he could make his payroll and since we wire money, it’s good as the same day and he was really pleased. Waited about 45 days, got paid, rebated him back the difference between the discount and our charges. So, I do want to remind you that we do have a few minimum requirements.
We have no minimums as far as the size of the invoice that you sell us but we do have minimums on the size of the companies that we will finance. As far as revenues are concerned, you must be at a $20,000 month run rate. At the very least, you need to have 2 customers; now, please do contact me if you start growing out of this recession and are seeing your business pick up.
