NeeBo Capital Blogs – Page 33 – The Best Info For Factoring…

What is an unsecured business loan? | Business Loans $250k and up

Unsecured business loans are a perfect way to fund buying a business or expanding a business.

What is an unsecured business loan?
An unsecured loan is a funds advance that doesn’t make the borrower use any collateral in order to ensure that they can repay the loan. They won’t have to lose any of their own personal property or assets if they default on the loan. When you are a small business owner, and you are risking a lot to get your business going, there’s no worse feeling than thinking you’re going to lose your house or your stuff if your business doesn’t pan out and you can’t repay the loan.

What are the Advantages of Unsecured Business Loans?

Collateral is not Necessary

Unsecured business loans are a perfect way to fund buying a business or expanding a business. Even though interest rates are a little higher because the lender has a lot more risk, the process is usually simple as long as you or your business has a decent credit score. You just have to persuade the lender that you’ll be able to repay the loan.

Criteria for Borrowing

What does it cost to apply for an unsecured business loan and how much money can you borrow? These loans usually range from $10,000 to $100,000, depending on different factors like previous credit limits, residence status, income, and credit history. If you see a small business loan chance, but it has a lot of big application fees, then stay away from it. Credible firms won’t charge big upfront fees.

Quick and Simple Process

Obtaining an unsecured business loan, and applying for one, is often a quick and simple process. For instance, if you discover a business that you want to purchase, you can often fill out a form online or call a number to go through a process for pre-qualification. Usually within a couple of hours on an ordinary business day, you can see whether or not you meet the qualification criteria. If you meet the criteria, then the process will continue until you get approved for the loan. It may take a couple of hours or even a week before the wire transfer goes through to your bank account.

How do you Apply for an Unsecured Business Loan?

You can find a lot of sites where you can apply for unsecured business loans easily and quickly.

Interest Rates

The interest rates can be a little higher for unsecured business loans. Interest rates actually vary based on the particular circumstances and credit history. Repayment terms usually range from one to seven years.

Conclusion

You may be able to reduce your interest rates if you have a good credit history, good business income, and you have a stable business with stable income. You could also find better interest rates if you shop around at different lenders and look for the one that is going to give you the best deal. There are even different kinds of lenders for different kinds of companies. Some cater to small businesses, and some cater to mid-size businesses. Some cater to business in certain industries. Some cater to businesses who are just starting out. Some cater to businesses who have a long business history.

Need an unsecured business loan? Click Here

Accounts Receivable Loans or Contractors | working capital for contractors

Working capital for contractors is excellent for helping contractor businesses grow when they run into trouble with cash flow or business expansion. You can get your money right away – and not have to wait one month or two months.

Accounts receivable loans for contractors — Contractors in all sorts of related industries can take advantage of accounts receivable loans, and they include carpenters, excavators, flooring specialists, paving companies, and plumbing companies. There are literally dozens of industries and related businesses that can take advantage of accounts receivable loans for contractors.

Are you a contractor or construction project manager, but you don’t have the money you need for critical business operations? You may have trouble covering payroll, not have enough cash to spearhead your company growth, or you may not be able to take on new jobs or retain loyal customers. That can be frustrating for a contractor, and accounts receivable loans are the solution to help your business going full force and full steam ahead. You may not have the ability to use material discounts when you would otherwise buy in bulk. You may have had a big job use up all the available cash you had. If you’re having problems of this sort, then look into accounts receivable loans for contractors.

The cash resources that can fuel your business are right at your fingertips. Hopefully, you can find a company that understands the needs of contractors. Commercial construction is a complicated process, and sometimes it helps to go straight to an accounts receivable loans provider instead of to the bank. Why would you work with a financial institution that doesn’t understand your business? You need to choose a financial institution that understands commercial and sub-contractor funding.

Contractors in all sorts of related industries can take advantage of accounts receivable loans, and they include carpenters, excavators, flooring specialists, paving companies, and plumbing companies. There are literally dozens of industries and related businesses that can take advantage of accounts receivable loans for contractors.

What are the differences between a bank loan and construction factoring? With the latter loan, you use your customer’s credit as a kind of leverage to get the loan. A bank loan is typically based on your assets and your wherewithal in being able to pay the loan back. When you do factoring, your growth potential is based on the number of customers you have, and your potential is almost unlimited. If you have more credit-worthy customers, you can get more money.

Accounts receivable loans can be used for locally-owned businesses, female-owned businesses, businesses hit hard by the recession, and others. These kinds of loans are used to offer working capital for contractors so they can reliably execute their governance regarding their construction-related projects. These kinds of loans for contractors are a standard part of the business, and there is nothing to be ashamed of in getting these kinds of loans.

Situations that these financial institutions can help overcome include working with businesses who have had a short spell in the business, bankruptcy, and judgments against them. These kinds of loans are vital if you want to push your contractor business into a new tier of success. If you are unable to finance your business, let accounts receivable loans help.

Are you a contractor in need of working capital? Click here

Invoice Factoring for Technology Staffing Companies | Tech Staffing Factoring

Companies that handle factoring for tech staffing companies have been funding payroll and growth for staffing companies for decades. What kinds of things can these companies do for your technology staffing company?

Companies such as Neebo Capital are proficient at getting maximum cash flow for your staffing company, eliminating bad debt, offering full payroll services, helping out young companies trying to grow, and some of these companies are great for brand new upstart companies because no minimum volume is required to get a foot in the door.

Does your company need cash flow sometimes, but not all the time? Sometimes, as-needed cash flow is essential. If the cash flow of your business suffers sometimes from seasonal ups and downs, customers not making as many orders, or orders coming in unexpectedly, you’ll discover that a cash-only program can really do the trick. When you require the cash, just send the timecards and invoices on customers who are credit-approved, and if you’ve chosen a fast-acting company, the cash can be transferred into your account the very next business day.

Your company may need maximum cash flow too. If your company is growing, you may want maximum liquidity to come from your assets. Try to sign up to get the maximum amount of cash flow. You will then just have to send in your weekly timecards and invoices, and you may get up to 90% of your cash, or even more, in your account the very next business day. Some of these companies can even help your business by cutting down on your expenses, eliminating bad debt, or cutting down on your overhead too. Focus your own staff on building the business, not on making pesky collection calls.

Some of these companies can also provide cash plus total services. If you’re trying to find a complete solution that offers administration and working capital, go for a full-service approach. Not all companies will provide a full range of services, but you should take advantage of them if they do.

A lot of these companies have national clients, and they manage hundreds of companies and clients all over the country, and they offer a full range of services too. Call and ask what they offer, and don’t be shy about finding out what they can get your company, outside of just quick cash for your invoices. Take advantage of the full suite of financial services that many of these companies offer.

Factoring is a normal and good part of a lot of different industries and businesses. It is when an outside company purchases accounts receivable. Factoring helps businesses out by giving them the power to make sure growth can happen without incurring debt or diluting their equity. Factoring for staffing companies is very common, and you should look into as a very viable way to get a cash infusion into your business without having to do some of the more unsettling things like getting debt or having to sell off a part of the company for some much-needed capital to help the business grow.

Need factoring for your tech staffing company? click here

2013 Asset Based Lending | Inventory Finance + Accounts Receivable Finance

When you a combine a high advance rate on A/R (85%-90%) with an aggressive advance rate on inventory (65%) the results are the ideal line of credit for maximizing our client’s access to growth capital.

65% inventory advances for our clients along with a high advance rate on A/R (85%-90%)

Let’s delve into the basics of asset-based lending. Asset-based lenders, as the name suggests, make loans based on assets, usually inventory and accounts receivable. You are sticking the revenue that you are going to make in the future out there, and putting it at risk, to get some access to quick cash.

Asset-based lenders will give you their funds in correspondence with an agreed percentage amount of the value of the secured assets. Asset-based loans are sometimes called secured loans, because they are secured by collateral. The percentage of the value is usually between 70-80% of the receivables that are eligible and 50% of the finished inventory that is eligible.

How do you get asset-based loans though? The number of financial service businesses that give asset-backed loans is significant. There are a number of banks and independent financial businesses that offer it.

For a little business, the solution is to locate the lending companies that are fine with giving credit lines to smaller companies. This can be a little difficult, and it could involve a lot of questioning on your part. Asset-based lenders usually want to make bigger loans because the price of upkeep of an asset-based loan is going to be the same – whether the loan is small or big.

Still, getting any kind of asset-based loan ought to be pretty simple if your business has sound financial statements, great reporting programs, frequently transacted inventory, and, furthermore, clients who have a great history of paying bills on time.

To get an asset-based loan, you are going to need to have a lot of financial information that is accurate and detailed. The most important thing is to get the lender feeling good with a real case for long-term viability, as well as some financial statements that are professionally-prepared that will show proof that you have a great grip on the business.

What is the advantage of an asset-based loan? Asset-based loans can be a vital capital source for companies that are growing really quickly. Companies that are leveraged highly, in the middle of a turnaround, or have too little capital, can all benefit from asset-based loans. Sometimes, a company just needs a cash infusion to handle a financial problem, or something that would cause it to stall out and quit.

What is the disadvantage of an asset-based loan? The possibilities of getting a line of credit are just as good as the receivables quality that your company has. Commercial lenders will at your clients to pick the ones that pay in under two months or have a great credit rating. They may not look as sales to small businesses or individuals as receivables that are eligible.

Asset-based loans can also cost more than classic loans. Interest rates will fluctuate widely, and banks will often include further due diligence and “audit” fees to the final cost of the loan. Bigger banks may also necessitate that you make a personal promise, as well as the assumption of more banking relationships.

Thinking about asset-based loans for your company? Click Here

Fast unsecure business loan | We offer unsecured business loans upto $300k

Unsecured business loans are simpler to get than the other secured kind because your company doesn’t need to put up any collateral.

Let’s take a look at the pros and cons of an unsecured business loan.

If you are creating a new company, or if you are expanding a current business, you may think about financing from a third-party, like a company loan. Let’s look at a couple kinds of business loans: unsecured loans and secured loans. A business loan that is secured is often secured by collateral, and a business loan that is unsecured has no backing in that way. Getting a business loan that is unsecured has pros and cons attached to it. Let’s take a look at them.

An Introduction to Unsecured Business Loans

Lenders that give business loans that are unsecured won’t need your company to give collateral to get the loan. However, you will still need to meet some credit and income requirements. Unsecured business loans may start at $5,000 and go all the way up to $500,000, whatever the standing of the company and the credit rating of the company. Some lenders can also offer companies a sort of unsecured line of credit. Keeping your business in good standing, and having a lot of income, will go a long way in helping you to get favorable terms for an unsecured business loan. Lenders want to see that the company is solvent, and is bringing in a lot of cash flow, and they are going to be more likely to lend to your company, and at better interest rates, if that is the case.

Pros

Unsecured business loans are simpler to get than the other secured kind because your company doesn’t need to put up any collateral. Even though lenders can take the collateral if your company defaults on a loan that is secured, a lender won’t be able to seize any your business’ property if it doesn’t pay back the loan on an unsecured loan. However, a lender can still get a court injunction to attempt to do this. If your company has a bankruptcy filing, the court may get rid of all of the unsecured loans, but it won’t usually discharged the loans that are secured.

Cons

Since unsecured loans are riskier for lenders, they will usually levy worse interest rates as opposed to business loans that are secured. That could mean that your company would pay more money over the lifetime of the loan that it may have put up for a comparable secured loan of an identical figure. Interest rates that are higher could also make the single loan payments balloon. Furthermore, business loans that are unsecured are more difficult to qualify for, and they are harder to actually make happen. If your company has a bad or blank credit record, the lender could opt to not give permission for the application you have put in.

Thoughts

Going into default on any kind of business loan, and that includes an unsecured business loan, will hurt the credit rating of your business. A court may get rid of the unsecured loans in bankruptcy, it won’t discharge the loan if a creditor has before gotten a judgment on your company. Some lenders can offer loans that are partially secure.

Need a fast unsecured business loan? Click Here

Local Medical receivables lender | We finance Medical receivables!

Medical receivables lenders — Medical receivables financing is different from getting loans from medical financing companies. It is sometimes called medical factoring, and it is different from ordinary monetary assistance that is offered by lending institutions. As opposed to a loan, medical receivable financing puts more of an importance on the valuation of a company’s receivables and upcoming potential for earning, instead of on its prior business performance.

Medical receivables financing is a great solution to moving your small private medical practice forward.

Managing a business that is involved in any facet of the healthcare or medical services industry is tough enough just on its own. It can get more complicated when you add all the difficult billing processes to it that are currently being forwarded by healthcare payers from third-parties. Collecting the money owed to your small private medical practice can be extremely tedious and painful to do.

However, there is always the option to get monetary help from banking institutions that are traditional in nature. However, a lot of these lending institutions have some extremely strict criteria. This makes it harder for a lot of health care operations at the professional level to qualify to get financing, medical equipment loans, or working capital.

Medical receivables financing is different from getting loans from medical financing companies. It is sometimes called medical factoring, and it is different from ordinary monetary assistance that is offered by lending institutions. As opposed to a loan, medical receivable financing puts more of an importance on the valuation of a company’s receivables and upcoming potential for earning, instead of on its prior business performance. When you do medical receivable financing, you are getting rid of your medical invoices for fast cash, and you are not taking out a loan.

It is a speedier way to get the working capital that you need, because medical institutions and healthcare practices usually wait about a month to three months to get paid. They may be forced to take out small business loans from medical finance companies to get the resources they need to continue on with their further operations. These loans can take between one month and two months to get funding and approval. However, with medical receivables financing, you can get a quick influx of capital, and it is unnecessary to wait to get paid. When you use a medical receivable financing service, you can get the funding the day after you make the request, in some cases.

There is no limit to the availability. Medical financing companies base the amounts of their loans on the past performance of an enterprise, tax returns, and repayment history too. You will need to have excellent performance and superb profitability to get the approval that you need for these loans and to qualify for any real funding. This isn’t the case with a good medical receivable financing service. As long as the business you have is making invoices, you can get access to the capital that you require, and there is no cap on how much you can qualify for.

There are highly competent financing and lending advisors that can help you out in all areas of your healthcare and financing operations. Discuss with some of the medical receivables officers at a reliable company about just how much financing you can get for your company, and also let them help explore some of your options with you too.

Need to get capital for your Medical receivables Fast? click here

Local Inventory finance | We offer fast Inventory financing

We offer up to 65% on Inventory

Inventory financing is when a credit line or quick loan is made to a business so it can buy products. The inventory acts as collateral for the loan if the company doesn’t sell its product and is unable to make the payments back on the loan.

Inventory financing is great for businesses that have to pay their suppliers in a shorter pan of time than it would take them to sell their products to customers. It also offers an answer to ups and downs that are seasonal in cash flow, and it can aid a business in achieving bigger volume of sales – for instance, by letting a company get more inventory to sell throughout the holiday season.

Lenders look at inventory financing, or they could anyway, as a kind of unsecured loan because if the company can’t sell the inventory, the bank may have a problem doing it too. This truth may partly explain why, in the fallout of the credit crisis in 2008, a lot of companies found it a lot harder to get inventory financing.

Why should your company consider inventory financing?

A lot of companies, big and small, are not taking advantage of the inventory financing. These things are made to offer each part of the supply and distribution chain with the chance to expand, take on new risk, improve their cash flow, and make their product more visible.

For companies that manufacture products, this can create some added value for the dealer relationship by offering a financial solution to improve the profitability and liquidity of the business. Manufacturers can also be enhanced by the improved cash flow and profit because of the customized program design by some companies that offer inventory financing. Consistent and improved cash flow is possible.

Financing solutions can additionally help a company balance their sheets by transferring some of the risk of failure, enhancing compliance control, and the upkeep of accounts receivable management to experts in inventory finance. The capital that comes in can be used in a more productive way to enlarge the sale and range of products, and to take advantage of the spikes in seasonal sales.

What are some of the benefits to the manufacturer of inventory financing?

Inventory financing lets manufacturers concentrate on their core business, it enhances the dealer network financial quality, leads to production schedules that are a lot smoother, results in enhanced cash flow, and it brings more product into the market for sale, which contributes to future sales growth.

Consider inventory financing if you’re a manufacturer that is having trouble bringing enough of their products to the market. There are experienced and capable inventory financing companies that can handle all the details and particulars that are you may be loathe to take on, when it comes to your business.

There are customized programs that can be tailored to your business that can help it grow and profit, even if you’re stuck as far as moving your business forward.

Need Local Inventory finance? Click here to visit our page.

Why Staffing Factoring Works Best for Recruitment Agencies

The recruitment and staffing business is one of the most vibrant industries in the world. In the United States, the staffing industry accounted for $117 billion in sales in 2012, according to the American Staffing Association. In Canada, the industry is worth more than $7 billion.

The industry performs even better when the economy picks up as companies expanding need more manpower for their operations. But it does not mean that staffing companies are immune to financial problems. Since the clients of recruitment companies typically pay within 30 to 90 days, staffing firms are prone to cash flow challenges. Likewise, there are seasons when sales are low. Staffing factoring is a practical solution for recruitment firms that experience cash flow challenges.

Staffing companies are engaged in various employment-related services. These include providing recruitment and permanent placement of workers, outsourcing and outplacement, as well as training and human resources consulting.

Financial Issues

These companies often face unique issues when it comes to finances. One is the cash flow problem. Staffing firms directly pay the workers they have hired, usually on a weekly or biweekly basis. In turn, these companies bill their customers after a month. Most customers pay after 30 days but slow paying clients do so after 90 days. Thus, recruitment firms face liquidity problems as they need to pay for their workers. Of course, these firms also have to deal with other expenses like rent and payment for utilities.

Recruitment agencies also experience cyclical sales patterns. Companies traditionally don’t hire workers during the last quarter of the year, for instance. Most staffing firms avoid getting a banking loan as it takes time to process and only adds up to the company’s debt. Simply put, cash flow problems can slow down a recruitment agency’s growth.

Invoice Factoring

Staffing factoring is considered a more practical financial solution for cash-strapped recruitment agencies. Also called invoice factoring, this financial solution requires a recruitment agency to turn in their invoices in exchange for cash. Unlike bank loans, factoring takes only a few days to process. It also comes in flexible terms and rates.

Companies that apply for factoring can get cash in as fast as 24 hours, especially if they have established a favorable relationship with the factoring agency. Recruitment firms applying for the first time may have to wait for 4-7 days to have the money deposited into their accounts. Factoring agencies look at certain considerations like creditworthiness of the recruitment agency and value of the accounts receivable in approving an application.

Benefits
Apart from providing cash for day-to-day operations, invoice factoring provides numerous benefits to recruitment agencies. The money can be used by the recruitment agency for expansion, like hiring another sales executive who can bring in more clients. It can also be used for advertising to reach out to more job candidates. Staffing factoring also does not require the recruitment company to put up collateral. Finally, the money received from invoice factoring is typically higher than what a company would be able to borrow from a bank.

Need Staffing factoring? click here

2013 unsecured business loan | We offer fast unsecure business loans

Starting a small business requires a lot of, and it takes entrepreneurial spirit, gusto, courage, and knowledge of the market that you’re entering too. However, most of all, it just needs a financial commitment from the small business owner. It’s hard to come up with that financial bankroll sometimes, and that’s where an unsecured business loan comes in.

If you have everything in place, then your chances of surviving with your startup business dramatically go up. Almost no business would be able to survive without the right financing at the right time, and that’s where an unsecured business loan comes into place. This might be the only option for a small business owner without a lot of resources to help him out, and they’re sometimes based on the small business owner’s credit history, but they’re not based on collateral usually. They can be based on collateral, but, most of the time, the small business owner is not going to have that kind of collateral on hand. That’s why it’s imperative to look into a small business loan if you want to grow your business.

Small businesses, especially new small businesses, will many times come up against a lot of resistance when they are trying to apply for loans. It can be all the more frustrating for small businesses because they’re just trying to get that crucial capital needed to finance and expand their business. If they don’t get the money, they can sometimes run into roadblocks in drawing in new customers and keeping up with the maintenance and flow of their business. This can even lead to the business crumbling. That is why it is so important that small businesses have easy access to the capital they need while they are in the building and growth phase.

A lot of small businesses are set up and taken down in the same year, and it makes a lot of lenders not want to give money to these new, budding businesses. These businesses are considered high-risk, and they can be a danger for the lender to take on. A good way around this issue to get unsecured business loans. This kind of loan is based on your credit score. When you go to get an unsecured loan, you won’t be required to put up any kind of asset to make sure you can secure the loan through collateral. Lenders will give these kinds of loans based on the general possibility to pay back the loan as soon as possible.

If you have to deal with an emergency situation relating to your small business, this kind of loan can be an ideal one. If you need to get your loan approved expeditiously, then it’s a smart idea to shop around for good business loans, and to pick from a company that lists a network of several hundred lenders because you want to get the best interest terms and rates. It is imperative that you choose from a network like this, or you might have to go with your bank, or whatever financial institution is the closest to you.

Need an unsecured business loan for your business? Click Here

Medical accounts receivable factoring | We offer fast Medical receivable factoring

Fast Medical factoring — Medical factoring is excellent for small, private practices that don’t have the money to move their business forward in the moment.

Medical accounts receivable factoring is sometimes a necessary part of running a small medical practice or a private office that takes in new patients because it’s the only way to ensure that the business stays afloat, moves forward, and can expand as needed. It’s just one of the most essential ways to help get that much-needed working capital to move the business in a good direction, even when you don’t have the money yourself. It can be hard for a struggling healthcare specialist to move their business in a positive direction when their capital is held down.

Why should you have to wait one to three months to get the payments you need from your patients, when there are medical accounts receivable factoring companies that can give you the money up-front for those invoices so that you can have the working capital to move forward. You can get cash advanced on your accounts receivables in less than 24 hours in a lot of cases.

What is medical factoring? Factoring is taking the accounts receivable of a business and turning them into cash when the outstanding invoices are sold to a “factor” for a discount. It’s true that you’re not going to get the same amount of money for your invoices, but you are going to get close to 80%, and you are going to get the money right away, which makes it kind of worth it. Accounts receivable factoring gives the business the immediate cash stream needed to manage its function in a more efficient way.

A lot of businesses just haven’t considered factoring when it comes to looking for financing, and that is a darn shame. They might not understand factoring or how it could help them. They need to realize, however, that factoring is one of the oldest methods of offering working capital to help businesses deal with their cash flow needs.

Cash flow problems can always happen at the inception of a business, in the beginning stages of business development, or throughout periods of rapid growth. Cash flow can be a real problem in the healthcare industry because the completed work might not be paid for, for one to three months after the invoice is issued. So, a lot of businesses try to apply for small business loans.

However, the ordinary kind of borrowing increases the business expenses, and it often necessitates more collateral too. This is not something that a lot of doctors relish, and they don’t want to come up with a lot more money to pay back the loans, when you take interest rates and terms into consideration, but they are unaware of the alternative of medical accounts receivable factoring.

The factoring company will just evaluate the strength of the client’s accounts receivable, and based on the credulity of the doctor and the patients, the company will give money for the accounts that haven’t been collected on already. That is an excellent thing for small, private practices that don’t have the money to move their business forward in the moment.

Need fast Medical accounts receivable factoring? Click Here