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Wrap Financing is one of many financing options available for your clients through our business funding suite. This type of financing is for business owners who want to "wrap" their vehicle with graphics.
I am sure you have more than likely seen a wrapped vehicle before, and you might even be thinking about wrapping one of your vehicles now. Wrapping a vehicle turns it into a mobile billboard. Everywhere you go your car is advertising your business. Many business owners swear by this marketing technique and insist it brings them significant amounts of business. But, most business owners don't know that they can obtain financing to wrap their vehicles or even the windows in their business. Wrapping a vehicle sometimes costs upwards of $2,500 or more. But with financing available this makes it much more affordable for business owners. The business credit and funding suite can help you secure business credit and funding through a plethora of lending options. Call us today to find out how your business can benefit from this type of advertising, or benefit from one of our other specialty programs we have available.
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Some Notes:
When you choose to accept credit cards as a small business, there are a number of considerations that come into play. For example, the cost of your merchant account and internet payment gateway are things that you should think about and plan for. Another often overlooked cost-factor is that of the fees associated with each type of credit card. Some merchants opt not to accept certain cards (such as Discover and American Express) because the fees for those cards tend to be higher. While a percentage point or two may not make alarms go off in your head when you think about small transactions, the fees can add up substantially over a year or two. These are costs that should definitely be considered before you decide to accept cards with higher fees. There may be other fees associated with the types of cards that are more difficult to account for. Another cost to consider when accepting credit cards is the cost of chargebacks. Chargebacks happen for a number of reasons: - Customer dissatisfaction - Consumer confusion - Poor merchant communication - Fraudulent or Unauthorized Charges (For example: a relative used their credit card without authorization) You can't always stop or remedy these reasons, but many chargebacks can be fought (and won) or avoided altogether if you are careful to cover your bases and communicate thoroughly with your clients and customers about the charges that will appear on their credit cards. Still, the cost involved in investigating and responding to charge backs, and the cost of losing them is something that should be taken into account when you decide to accept credit cards. This is especially true in businesses or industries that are more chargeback prone. (Mail order is a good example.) Imagine having the ability to access $50,000, $100,000, even $250,000 for your business.
Now imagine doing this with NO personal credit check and NO personal guarantee. Your success in business will be determined based on your business credit profile and score. With a good business credit profile you will have near unlimited borrowing power. Without having a good business credit profile it will be a difficult path to success without having access to working capital and funding. This is why almost all Fortune 500 companies use their business credit to secure funding. It's not that they need the money to operate. Successful companies use funding as leverage to grow their business. Business Credit is the best kept secret in business. Over 90% of all business owners know nothing about business credit or business credit scores. But when you do discover the power of what business credit can do for you and your business you will be floored at how easy it is to get money and grow your business. One of the many benefits of business credit is that you can obtain funding with no personal credit check. With a strong business credit profile lenders will lend you money based on your business credit, not your personal credit. This is excellent if you have personal credit issues as you can still qualify for funding. Even with exceptional personal credit, business credit gives you DOUBLE the borrowing power. You can get approved for much higher funding amounts using your business credit than you would if you used your personal credit to qualify. Another great benefit of business credit is there is no personal guarantee required for much of the funding you obtain. This means you can be approved with no personal liability. So if you ever do default, the creditor can't pursue your personal assets like your home or personal bank accounts. Business credit adds more value to your business and gives your business credibility. Stakeholders, partners, lenders, even potential buyers of your business will see more value in your business if you have a strong business credit profile built. Most important by having a good business credit profile built you have security. It is much easier to run your business when working capital is easy to come by. Any business with a $150,000 credit line available will have a much better chance of growth than if $0 was available. If you have an interest in knowing more about building a business credit line without personal guarantees please give me a call to discuss your needs. You just may qualify right now for business credit. And through the business funding suite you will be able to secure well over $100,000 in business credit within months. by Ryan Smith | Aug 08, 2014
In a move industry pros say will expand access to home ownership, FICO announced today that it is revamping the way it calculates credit scores. Under the new system, FICO will ignore paid collection accounts and place less emphasis on medical bills when calculating scores. Those consumers whose only major black marks are unpaid medical bills could see their credit scores raise by as much as 25 points, according to the company. The decision was hailed by National Association of Realtors President Steve Brown, who said it will increase consumer access to home ownership. “Realtors welcome today's announcement from Fair Isaac Corp., or FICO, that it will no longer penalize borrowers for certain debt-collection activities when calculating credit scores,” Brown said. “This move will ultimately make a real difference in the lives of millions of Americans, who have been shut out of the housing market or forced to pay higher mortgage interest rates because of flawed credit scores. Since the housing crash, overly restrictive lending has been the greatest obstacle to homeownership. NAR will continue to support efforts to broaden access to credit for qualified homebuyers.” The new FICO scores will be available to lenders in the fall, according to the company. The 5 Cs of business credit are:
1. Character 2. Capital 3. Capacity 4. Collateral 5. Conditions Character is all about you. It's about your personal history, your stability, and how reliable you are. This variable is more subjective than the others, and is one of several reasons it is beneficial to do business with a bank where you have built relationships with the people who work there. In determining your character, the lender may look at your education, your work history, your personal income, and personal credit history. Again, it's important to remember that this is one area of business credit where relationships do matter! Capital is about how much you have invested in your business. Whether you are seeking a bank loan or a loan from a private investor, the lender will want to see that you are heavily invested in your own business. Generally speaking, the more of your personal money that you've invested in your business, the better it will look to a potential lender. (After all, if you're not confident enough to invest in your business, why should they be?) Capacity is about your ability to repay a loan according to the terms. Things like cash flow, payment history, and the assets and resources of any person providing a personal guarantee will play a part in determining your capacity to pay back a loan. Collateral is something offered up as security for a loan. Anything from equipment to inventory to a home you own can be considered collateral. It may be easier to get approved for loans with collateral, and many loans will require it. In some cases, the more that you can offer as collateral, the more likely you will be to get approved. "Conditions" may mean any number of things, some of which could be out of your control. The current economy, for instance, may play a role in your ability to get approved for a loan. Other things that they may look at include your industry and its economical status, and the purpose of the loan. If your industry is suffering and businesses in your industry are struggling, it could negatively affect your ability to get approved. Some loan purposes are more readily approved than others, too. Loans for riskier purposes such as new and unproven expansions are generally less likely to be approved. |
Dan GarciaTrevana Properties is a placement company working with a variety of hedge funds, REIT's, commercial banks, specialty boutique lenders, private investors and other funding sources not widely known to the general public. Archives
November 2016
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