The Rudiments of Invoice Factoring October 10, 2009
Posted by janey in : business loans , comments closedOkay, it is approximately 7:30 pm on Friday night on the weekend prior to Labor Day and my boss has requested me to record a sales pitch for the company. Most probably, it hasn’t occurred to him that besides sitting around and talking to my laptop, I have better things to do - especially on a long weekend like this.
Well, back to the topic. The only resource of alternative financing all over North America, Interface Financial Group offers you a comprehensive list of products to select from. We offer both short term as well as long term factoring for your invoices. Organizations that need one-time or occasional funding for their invoices to facilitate cash flow would truly benefit from short invoice factoring. This product allows you to make no commitments. There are no minimum time requirements, no minimum or maximum amounts necessary and completely no administrative or set up fees for financing.
We’re also pretty much the only firm offering this product in the United States as well as Canada. With over 150 branches all over North America, we can give you personal attention and a local representative who will be your contact point. In most instances, funds can be credited to your account within 24 to 48 hours for a first time transaction. Sure great if your boss is as irritating as mine and within a few hours for a repeated transaction. All you have to do is provide us with a few financials and your invoices and we will do the rest.
For more information, visit us at ifgnetwork.com or call us through telephone numbers: 877-210-9748 (United States); 877-340-6893 (Canada). Thank you for listening and I will be around all weekend. So just keep those calls coming.
More Business Loans Facts Part 1 October 8, 2009
Posted by janey in : business loans , comments closedCan I get a government grant that I do not have to repay instead of a business loan?
In truth, despite the hype of the Obama Administration grants, your chances of obtaining business loans from the federal government are slim. As such, beware of scams about “government grant kits” that promise you free money. The federal government does not offer grants for starting and expanding a business. Grants from the federal government are only available to non-commercial organizations and/or non-profit and educational institutions or for research and development in areas like education, medicine, scientific research and energy efficient technologies. What’s more, these grants are usually combined with other types of financing - like a loan; so essentially, this is not free money. Don’t be mislead by outrageous claims for “free money” - go to Global Financial Services for expert assistance on getting a business loan for your company.
What’s the timeline for getting a business loan request approved?
The time differs based on the amount of the request, the financial strength of the business verified by the lender through Dun and Bradstreet and other chief business credit reporting agencies, length of time in business, credit scores and history of the principal(’s) and nature of the business. For a free analysis of these factors for your situation and for quick responses, please contact our office. Once all requisites are met, approval of business loans would range between several days and one week. As such, you should be careful of “dignified telemarketers” who guarantee you 24-hours approval from your initial point of contact. The result is usually numerous credit questions, lowered FICO scores, denial of credit by numerous lenders, and the principal becomes “blackballed” from financing in the future. If it were really this fast, everybody would get loans!
Can direct lenders promise me a business loan?
You need to understand that brokers aren’t legally allowed to guarantee any business loan. Moreover, no direct lender that we know of will guarantee a potential principal borrower or entity a loan without reviewing first the pertinent financial information. A few applications may be done on a “stated or projected” revenue loan without tax returns via a streamlined application but don’t ever count on any guarantee of funding from any lender until they have truly approved the application.
What is an SBA or Small Business Association loan?
The Small Business Association (SBA) works in connection with designated lenders called SBA lenders to make it less difficult for a business entity to qualify for a loan or credit line. Normally, the SBA ensures 40-50% of the loaned amount in the event the borrower or business defaults therefore making the qualification procedure with the lender more streamlined and faster for funding. However, be careful because not every business will be eligible for an SBA loan as there are restrictions which the borrower must qualify for. To learn more about the procedure of availing for an SBA loan, consult the professionals at Global Financial Services.
