August 22, 2024
August 22, 2024
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When the Federal Reserve lowers the bank rate, it can have significant ripple effects throughout the economy, particularly for small and medium-sized businesses (SMBs). These rate reductions are often intended to stimulate economic growth by making borrowing more affordable, and for SMBs, this can translate into both opportunities and challenges. […]
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May 21, 2024
May 21, 2024
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In the current economic climate, interest rates have risen to levels we haven’t seen in years. Current prime rate is 8.50% which is what lenders use to set rates for loans, credit cards and lines of credit. Prime rates are usually 3% above the federal funds rate which is at […]
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October 27, 2023
October 27, 2023
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When it comes to acquiring essential equipment for your business, you have options. While many companies turn to their commercial banks for financing, working with an equipment finance broker offers a host of advantages that can make the process smoother and more cost-effective. Here are six big benefits to consider: […]
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September 5, 2023
September 5, 2023
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While equipment financing can offer numerous benefits, there are situations where a business owner might prefer to pay cash for equipment acquisition. Here are a few key reasons: Cost Savings: Paying with cash avoids interest charges and fees associated with financing. If the business has the necessary capital readily available, […]
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June 16, 2023
June 16, 2023
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Commercial lending rates are influenced by various factors, including the prime rate, which is the interest rate that banks charge their most creditworthy customers. When the prime rate changes, it can have a ripple effect on other interest rates, including commercial lending rates. In general, when the prime interest rate […]
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May 24, 2023
May 24, 2023
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Keep your customers engaged An occasional email, text or phone call to check in with a customer helps to keep your business in their thoughts. Be honest with customer expectations. If a customer need is not a product or service you offer, let them know right away. Even better […]
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May 11, 2023
May 11, 2023
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An equipment finance broker can add more value than working directly with your bank in several ways: Access to multiple lenders: A broker typically has relationships with multiple lenders, including banks, credit unions, and specialized finance companies. This gives them access to a broader range of financing options compared […]
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May 2, 2023
May 2, 2023
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5 Questions to Ask Yourself when Working with a Lender 1) Will it cost me money to apply? NEVER. Some finance companies charge $150, $250 or more to submit an application. It will never cost you a penny to apply with us and remember, we only Soft Pull credit so […]
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April 18, 2023
April 18, 2023
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Just plain old common-sense guidelines and good practices for productive office etiquette. by Lester Salvatierra 1) “Put details in an email…”, exactly what it means, don’t ramble specific details to a co-worker; express strategies and opinions in person but other stuff should be put in an email for future reference. […]
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April 7, 2023
April 7, 2023
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As business owners, we cannot waste time on activities that give us little benefit. We must focus on our clear profit producers, get the key things done and finish so we can relax down time without stressing over what we couldn’t get done. Here are some action items that may […]
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July 21, 2014
July 21, 2014
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We have a new program for small ticket equipment financing which approves a client and funds a vendor the very same day. Approval decisions happen within 2 hours so you can use your new equipment right away. This is the fastest finance process in the industry! The Key Points include: Finance amount: […]
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June 13, 2014
June 13, 2014
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Some scenarios or questions come up on a weekly basis and this is a good opportunity to share them with you here. If you think of others, please let me know. GQAF – How fast can my finance move because we’re in a big hurry. Answer – Usually the pacing […]
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May 22, 2014
May 22, 2014
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Financing a solar system can be a challenge since end-users and developers strive to match finance payments to energy savings within a specific term of the loan. For certain projects, an Operating Lease or Tax Lease may be the best solution. The end-user doesn’t get to keep the tax credit […]
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April 27, 2014
April 27, 2014
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There is a little confusion over what “100% financing” actually means. Client and vendors sometimes think it’s financing without any upfront costs to the customer. If this were true then it would be called “no upfront cost financing” but this is not the case. 100% financing actually means that it […]
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April 14, 2014
April 14, 2014
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The question, “are you a direct lender?” pops up from business owners with the idea that being a direct lender is going to get you a better deal. People think “direct” means there are no middle men which will increase the cost of funds. Once you understand the process and […]
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February 10, 2014
February 10, 2014
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For a business, access to capital is the determining factor to whether a business will survive or fail, expand or become stagnant or take advantage of opportunities or let game-changing chances just drift away. This is no exaggeration since statistics clearly show that most businesses fail because they simply run […]
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December 19, 2013
December 19, 2013
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Asset Based Lenders (“ABL Lenders”) look to tangible collateral to support their loans. They are more flexible on cash flow and capital than traditional bank loans and will accept some losses and higher leverage than a bank. Higher rate (non-bank) ABL lenders can even overlook some (but not all) character […]
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November 12, 2013
November 12, 2013
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What is an Operating Lease? It is one which has a fair market value buyout at the end of the term with the option to pay it or return the asset; an FMV buyout can be 15%-20% of the original cost. Finance wisdom has dictated if something becomes obsolete quickly […]
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October 4, 2013
October 4, 2013
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We know business owners who have not financed equipment and simply paid cash only to run short of money 6 months later; the main reason? They didn’t want to hassle with the finance process or felt it was too complicated. Yes, it does require gathering your financial data in some […]
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