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Sep
4

A Primer On International Trade Payment And Financing

A Primer On International Trade Payment And Financing While demand may drive markets, businesses manufacturing goods and services have to have the funds on hand to produce the goods and services and get them into the markets before they can take advantage of this demand. The Ex-Im Bank Role This becomes a concern for small to mid-sized business as moving from domestic markets to international markets poses risks, funding issues and challenges in trying to compete with the large national or international companies. These companies already have substantial cash on hand and already established trading partners around the world, creating an advantage over the small business. To level the playing field and to support small to mid-sized businesses, the Export-Import Bank of the United States (Ex-Im) was established in 1934. This is a specific entity that is tasked with providing financial support to small to mid-sized business to boost the US economy and jobs by driving exports and development of new markets by US companies. A Quick Overview Through the Ex-Im bank approved companies, international trade payment and financing programs are available. There are different options for providing working capital (pre-export financing) through to post-export financing (factoring services) offered by the Ex-Im bank. For a business to be eligible for the international trade payment and financing programs, the business must be a US based company, it must use 85% US content of eligible goods and services in the contract, and it must use US-based employees which can be located in the USA or a designated “host” country. While the international trade payment and financing are available for over 155 different countries, it is not available for export to all countries. There are also specific types of goods and services which cannot be covered by the funding offered by the Ex-Im bank. In general, items or services related to the military or defense sectors or service provided specifically to military buyers will not be eligible for funding. Be the first to like. Like...
Feb
2

What Is Factoring Receivables For Small Business

What Is Factoring Receivables For Small Business Although one of the oldest forms of funding for businesses, many small business owners, entrepreneurs and startup companies still may be wondering what is factoring receivables and how can it help business. If you are one of these business owners, understanding what is factoring receivables will help you to see how it can apply to your business. In reality, this is a form of an advance on your invoices. As it is an advance and not a loan, there is no interest and you will be aware of the fees and costs for this service in advance, allowing you to compare factors and determine the best services for your small business. The Basics to Consider All factoring services work in a similar fashion. A small business will apply to factor some or all of the accounts receivables. Some factors may require a minimum volume of accounts and some require a long-term commitment of six months to a year. Other factors may offer greater flexibility, use as you need agreements, and no minimum volume of accounts receivable necessary. For most small businesses, this will be the best option. The factor will advance approximately 80% of the value of the accounts you choose to sell. This money will be in your account in just days from the application. Then, the factor assumes responsibility for payment of those accounts, freeing up our office staff. Once your customer pays the invoices in full, the factor deducts fees and costs and forwards any residual that remains from the 20% held. Some factors charge only a flat fee while others will include hidden fees and costs that can really add up. Knowing what factoring receivables is will be helpful, but knowing what the costs are for the service is just as important. Look for competitive rates and no extra fees or costs for the best value for your business. Be the first to like. Like...
Jul
26

It’s possible to find a truly free checking account

It’s possible to find a truly free checking account When you are keen to manage your money and want to open a checking account, you will want to shop around and compare what various banks are offering. This is often not easy as the policies of the various banks and the fees being charged are often not in a format that’s easy to understand. Further, many larger institutions no longer offer a truly free checking account in Knoxville TN. As a result, you can sometimes not see where you’d get true value. However, if you’re trying to make sense of it all, there are certain questions that you should be sure to ask. What to consider when looking for a free checking account in Knoxville The most important question will probably be whether you’ll be able to avoid a monthly service fee. When you’re trying to build up savings, it can make a big difference when there’s a chunk of money in charges every month, even when there has been almost no activity on your account. You can find checking accounts that don’t charge fees, but there are likely to be conditions. You’ll probably find that you need to deposit a specific amount of money and will need to maintain a certain balance. There are other fees that might be involved, such as for electronic banking, so you would need to look at these areas as well. Free checking accounts are also available that don’t demand a minimum balance. While every bank will have different guidelines, you might be able to achieve this if you arrange to have your monthly paycheck deposited directly into your account. Alternatively, you might have another account at the bank for savings or a money market account, and this will qualify you for free checking services. What about other services? When choosing a bank, you might also look at the number of ATMs available and whether they are located conveniently for you. If you use the ATMs from other banks, would you be charged for these services? These fees might add up and influence your decision as to which bank to open an account with. Community Banks offer free checking accounts, and all the details of this service are available on their website. Be the first to like. Like...
May
11

How to Find Affordable Short Term Loan Rates

How to Find Affordable Short Term Loan Rates Just because you are in a financial jam it does not mean that you cannot find affordable short term loan rates! Whether you need that money right now or not you do have the right to compare loan rates to get the best rates.  As a matter of fact if you have a money problem right now it is best to shop for the best rates because it can make a difference down the road. Lenders offer different rates on the money that you borrow and the rates can vary greatly. The goal is to find a loan with the lowest rates so that you have to pay back less money. Of course when you are stressed out about money it can be difficult to think about rates because you just need the money but taking a few extra minutes to shop around can save you some cash and it is worth the effort! Some Tips for Finding the Best Rates When you applying for online loans you will likely get plenty of offers for cash. There are a few extra steps that you can take that will help you to save: 1. Read the terms 2. Compare your options 3. Look for specials and deals Read the Terms You would be surprised how many people never read the terms of the loan. It is understandable, when you really need the money and you need it right away you get excited to see that you can get it and just agree blindly to the terms.  It is a mistake. Read the terms and make sure you understand them. It is very important that you do because it is the only way you will really be able to see what the rates are and how much the loan is going to cost you. Compare Your Options Once you have read the terms it is time to compare options. Lenders have to disclose what the rates are and they are usually pretty easy to find so comparing your options is just a matter of holding the options side by side to see who is offering you the best rates. There May Be Discounts Some lenders run specials and deals that you can take advantage of to get lower short term rates.  Taking advantage of special options can really add up and save you some money! Short Term Loans can help you to find the best short term loan rates! Visit shorttermloans.com...
May
9

You Shouldn’t Have to Wait for Your Money

You Shouldn’t Have to Wait for Your Money It’ early in the week and the air conditioning in your home is not working. You call out the HVAC service and learn it’s going to cost $350 to get it fixed. However, there’s only one problem, you don’t get paid for another week and two days. What can you do? You may have several options but you need money fast and you don’t have a lot of time to wait, because it is terribly hot outside. This could be a good time to consider instant online payday loans and here are several reasons why. What is a Payday Loan? This kind of loan is sometimes referred to as a “cash advance” loan. You borrow the money and repay it with your next paycheck. The process is very fast and simple, because it’s taken care of online and in the comfort of your home. You may need to fax in a signature or proof of employment but this can be done from home or from one of many local copying services. Applying for instant online payday loans is very simple and all you have to do is fill out an online form with the required information. This should only take a few minutes of your time and you can usually receive a response with an hour or so, depending on when you apply. Getting your money is very convenient because it is direct deposited into your checking account. This is why the system is so fast. In fact, you can usually have your money by the next business day. You do not have to go anywhere or wait for a check to arrive in the mail. Plus, there is no need to wait for days until a check clears the bank, because there are no checks. Qualifying for a loan is not very difficult and most people should have no problems. You only need to have a job for six months ($1500 monthly income or more), checking account with direct deposit, be 18 years of age and a work telephone number. That is about all you need to qualify. No Credit Checks One of the best things about instant online payday loans is there are no credit checks. Maybe you have filed for bankruptcy recently. You might have lost a home in foreclosure or had several late payments with creditors. None of this matters because your lender is not interested in your past credit history. You can have the...

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