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Posts Tagged ‘Financing’

Linked in Can help you grow your business

As I continue to grow my business with LinkedIn, I find articles that may help others. This is an informative article on using LinkedIn.

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There are a number of ways to get your credit report. Here are a few.

One you can go to sites such as http://www.myfico.com, http://www.freecreditreport.com. Or directly to the bureaus which are Experian, Equifax, and TransUnion. Most companies use Experian or Equifax though certain areas in the South use TransUnion more. The government has a rule that allows you to receive one free credit report a year. This is very important to monitor as you can monitor for identity theft or erroneous information.

Also, if you have been denied for credit the entity that denied you has to send you a letter stating why and giving you the information on which bureau they used. This will allow you to request a free credit report from that bureau.
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According to Discover Small Business Watch, America’s small business owners expressed higher economic hopes in January, largely due to increased expectations that conditions for their own businesses would improve in the next six months. The Watch index jumped to 85.5 from 77.0 in December.

More small business owners are planning to increase business development spending over the next six months, with 25% noting they will spend more on activities such as advertising, inventories and capital expenditures. This number is up from 18% in December. Further, 28% plan to make no changes, while 45% will decrease spending, down from 51% in December.

“We measure small business insights and expectations about the larger economy as well as on the local level, so it’s good to see confidence rise on Main Street,” said Ryan Scully, director of Discover’s business credit card. “January showed us the first month-to-month increase since August in the number of small business owners who plan to increase spending on business development. Self-investment is a healthy sign in the small business economy.”

For more information go to http://www.monitordaily.com to view full article

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ELFF: Confidence Slowly Returning to Equipment Finance Sector Monday, January 25, 2010 The Equipment Leasing & Finance Foundation released its Monthly Confidence Index for January, showing the industry’s own outlook on the sector remains essentially flat. Overall, confidence in the equipment finance market is 58.7, virtually the same as the December 2009 index of 58.8.
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ELFA eNews Daily
Wall Street Journal (04/24/08)
P. A1 ; Ip, Greg; Kingsbury, Kevin

The Federal Reserve has cut the federal funds rate to 2.25 percent from 5.25 percent, amounting to seven reductions over a span of eight months, and experts anticipate another 0.25 percentage point cut at its April 29-30 meeting. However, experts think the central bank could take a breather after the next rate cut to give officials time to assess the impact of rate reductions, upcoming tax rebates, and other measures on the economy during the latter half of the year. Moreover, there are concerns that further reducing the federal funds rate could increase inflationary pressure and weaken the dollar even more. (more…)

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Within the last few weeks four of the largest banks have announced plans to secure fresh capital. The need for the funding comes from the mortgage crisis and the losses attributed to the the crisis. Wachovia, Bank of America, National City Corporation, and Washington Mutual have all announced plans to secure more capital funding. The New York Times published an article on April 21st that gives more details of the large losses and how banks are trying to secure funding to continue to operate.

How does this affect securing financing for your business?

As banks losses mount it leaves very little capital to lend out. This will make their credit criteria to extend credit to a business much more stringent. Companies that work with multiple funding sources will become the best option to help a business secure financing for working capital, debt consolidation, equipment financing, equipment leases/loans, and business expansion during this credit crunch.¬† A source such as PFC, Inc. can help a company secure the funding at a reasonable rate with the least risk to the owner’s business and personal assets.

For additional information go to www.pfcfinance.com.

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In the latest move to jump start the economy the government increased business tax write offs for purchasing equipment to an all time high. Normal depreciation of most equipment is over a 5 year schedule. Section 179 is an accelerated depreciation that the government gives to promote small businesses to purchase equipment.¬†Most tangible equipment and software qualifites for Section 179 accelerrated depreciation. Last year Section 179 was $108,000 the new economy reform bill increased Section 179 to $250,000. (more…)

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