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For a small businesses, there is another definition for factoring, other than the mathematical term. Factoring, or invoice, is also a financial service whereby a factor or a factoring company advances funds to a business in exchange for their accounts receivables. In other words, the business sells or transfers title to its accounts receivables to the factoring company, and subsequently, the seller’s customers send their payment directly to the factor in 30, 60 or 90 days later.

First used by the Mesopotamians 4,000 years ago, history tells us that the Romans also used a type of factoring. They sold discounted promissory notes to a secondary market. when the American colonists settled in America, they factored goods like furs and timber from the new country to European merchants who paided the colonists advances. (i.e. they factored) and this helped the cash flow for the Colonists so that they could continue their businesses.

Factoring offers an excellent source of cash flow, and most factors do not expect to buy 100 percent of a company’s receivables, and there are no minimum or maximum sales volume requirements. There is even a new form of factoring known as “single invoice factoring,” where small to medium-sized businesses (SMEs) can factor one or two invoices at a time every month. This form of factoring has grown increasingly popular since the economic downturn, and since it is difficult for many businesses to get loans or credit. Anyone can get the cash they need without a long applicaiton process, minimums, maximums, or a long-term commitment.

It is no surprise that a factoring company’s professional rates are very competitive. Why? Because each of its client’s circumstances vary, and this may have an impact on the fees. A business can often make choices of invoices to be factored, enabling them to retain most of their money, and this guarantees adequate cash flow. Invoice factoring provides a business with upfront cash quickly — often in as little as 24 to 48 hours — and you do not have to wait days, or worse yet months, to get approved, like it is when you apply for a loan. A factoring agreement just takes a couple of days to set up, then you can often get the funds by the next day.

Plus, the good news is that you can sell your invoices to the factor over and over again without having to be approved every time, so that you can get the funds faster. Factoring will improve a company’s cash flow for better day to day operations. Factoring continues to be a viable alternative to traditional financing such as loans, and credit cards.

Almost any business with good clients and outstanding invoices can benefit from invoice factoring.

The Interface Financial Group offers factoring, accounting, finance, law, marketing and banking. The Interface Financial Group provides short-term financial resources including invoice factoring, serving clients in the United States, Canada, the United Kingdom, Singapore, Australia and New Zealand.Visit www.IFGnetwork.com

Spring is well and truly here in all it’s glory, and the most awful Winter imaginable is now absolutely in the past.

For the last few days or so, the world about you has been a great place to live in, not only because of the sunny weather and the new growth of flowers and trees in your garden, but also because of the fact that for the last three months you have been in a very good and well paid job, and your probationary period is now at an end.

The confidence in life and the looking forward to the future is now very much part of you, just as it used to be before you lost your job during the recession.

Your renewed joy in life, and your good salary makes you want to plan the trip to Europe that you had put in the back burner due to your lack of confidence in your security of employment.

For years your partner and you had discussed buying a motor home and touring the continent with it once your children were capable of looking after themselves, and your budget stretched to it.

These two conditions have come to fruition, and what you now have to consider is the best way of buying your home from home on wheels and paying for the trip in general.

You have lived at the same property for over 20 years buying it for £150,000, and now your home is worth in the region of £380,000 with a mortgage of only £80,000.

You can go to a dealer who can arrange a loan for you, but the disadvatnages in this are that a deposit of at least 30% of the purchase price is needed, the interest rate can be quite high, and the repayment period is often a maximum of seven years.

For those who own their home there are better means of paying for a large purchase. As regards buying a motorhome, these methods eliminates the need for a deposit, have low rates of interest, and their repayments can be spread over 25 years.

With equity being the sum that remains when the mortgage balance is deducted from the value of the house, you are in the fortunate possition of releasing a little of this equity to raise funds to pay for your motor home and the holiday of the life time.

By this we are referring to secured loans and remortgages which are loans that homeowners can avail themselves of to buy almost anything they want at a very cheap interest rate.

A remortgage or a www.championfinance.com”>secured loan make it possible for people to buy things that they could not otherwise afford, as secured loans have rates from 7.9% and remortgages are available from little as from under 2%.

Spring is definitely in the air and with it lots of people’s minds turn to moving home. While some potential buyers are hesitant to look for a new property in the current housing climate, those in the north east of Scotland have no excuse for stalling. Stewart Milne Homes has a host of generous packages available to suit all house buyers and make moving into a dream new-build home in Scotland not only hassle free but also financially viable.

The company’s Deferred Payment Plan shared equity scheme is perfect for those who find their ideal home is just too much of a stretch. A deposit of only five per cent is required and an 85% mortgage reduces monthly outgoings, meaning that a four-bedroom home worth £439,995 can be bought with a mortgage of less than £373,995. Stewart Milne Homes holds the remaining percentage as an investment but the buyer owns 100% of the property. The balance is repaid either when the house is sold or after an agreed period of time.

The plan is available at the Kepplestone development in Aberdeen’s West End, where the last remaining townhouses are available in a choice of four styles. These family homes offer bright contemporary designs with an open plan kitchen/family dining area, a large living room with double French doors and a Juliette balcony and four bedrooms, with fitted wardrobes and en-suite shower room to the master.

For those looking to get their foot on the first rung of the property ladder, Stewart Milne Homes’ First Time Buyer Plan is definitely worth checking out. As well as a 90% mortgage, no Stamp Duty on selected properties and mortgage protection insurance, the plan also includes carpets, curtains, a home cinema system and a choice of furniture.

Silver Birches in Alford is one development offering this scheme and homes here begin from £185,000. The development comprises a collection of new homes ranging in size from two to five bedrooms. Stunning scenic views, the proximity of the River Don, sports facilities including a dry ski slope, skate park and swimming pool and an array of restaurants and shops make the market town of Alford a desirable place to live.

Available for a limited time, a collection of four-bedroom homes at Broadshade in Westhill is on the market minus the usual Stamp Duty costs, saving buyers up to £13,950. The selected properties come with carpets throughout and fully landscaped gardens. Comprising a range of two-, three-, four- and five-bedroom homes, the development is only nine miles from Aberdeen city centre yet enjoys a tranquil, relaxed setting.

Finally, those with an existing property to sell can rest assured with the Sell Your Home in Five Days purchase plan. The fast track service includes two independent valuations before Stewart Milne Homes provides a guaranteed offer for the customer’s old home. Not only does this scheme remove any uncertainty about selling a home, the housebuilder also deals with the sale, so there are no fees or marketing costs to be paid by the customer.

The plan is ideal for growing families and is available at the Leathan Mews development in Portlethan, where spacious living areas, rear garden access via French doors, open-plan dining area and ample storage space, not to mention the easy commuter links to Aberdeen, make family life easy. Prices at Leathan Mews start from £249,995 for a three-bedroom home.

Small business owners have discovered a new source of funding called factoring. Although this financial strategy has been around for centuries, it seems more people have now rediscovered it since the economic downturn.

A factor must make sure the work by their client was satisfactorily completed, accounts receivables factoring takes very little time for the factor to set up. And the good thing is that unlike a loan, you can be paid by the factoring company in 24 to 48 hours. You can get the cash they need without a lengthy and time consuming lending process for a loan at a bank. Small businesses can factor one or two invoices at a time, or all of their accounts receivables.But first you need to find a factor and begin doing accounts receivable factoring.

Most small businesses who cannot grow to the next level are dealing with consistent cash demands in their business. Knowing that the paychecks of future employees will be covered can help support the rapid growth of any business. Most businesses have monthly minimums in terms of bills. Factoring offers an alternative cash flow source to small and medium-sized businesses. Invoice factoring has always supported fast growth for businesses.

Small business loans can be really hard to come by for a startup, while factoring is not difficult at all. Many new businesses try to qualify for a bank loan, however, what they may not realize is that they have to be in business long enough to establish good credit and show all the documents and business revenue that prove you can pay the loan out of company revenues.

A frequently asked questions includes the following: What collateral are the funds for invoice factoring? Funds available via a factoring company are usually based on current collateral, and this is primarily based on the amounts due for the invoices you generate for products or services you have already provided, and those that you have invoiced for. The amount of money you receive one month depends on the amount of work you completed the previous month, as accounts receivables can vary from month to month.

Look at it this way, taking on more clients is now a viable option. If your business is being held back by consistent cash flow problems, you need to learn more about invoice factoring.

Kristin Gabriel writes for The Interface Financial Group (IFG). The
factoring company
provides short-term financial resources serving clients in more than 30 industries in the United States, Canada, the UK, Singapore, Australia and New Zealand. IFG offers expertise in
factoring
, accounting, finance, law, marketing and banking.

During the last few years the housing market has been in the doldrums. and this is trhe case both in brand new and older properties.

This was due to the effects of, and also to the aftermath of the recession which resulted in many people being afraid to ether buy their first property or to move house because the lack of personal economic confidence as well as that of the country as the whole.

As fewer poeple than normal were buying property, the number of mortgage applications inevitably fell correspondenlly, as of course mortgages are the loans required to buy a property.

Due to this lack of confidence, the homeowner loans of secured loans and remortgages were also at a low ebb.

A remortgage is only a new mortgage taken out by different mortgage provider on an exsiting property which can be for the same amount or for a higher sum than the original, the funds of which can be used for many purposes.

Therefore for several years now the demand for property, mortgages, remortgages and secured loans, which depend on the housing market were not in great demand.

Now it looks like the tide may be turning, as the National Association of Estate Agents are reporting a considerable increase in the number of people registering their interest in properties both new and old with local estate agents.

At the same time, things are looking more optimistic, with the statement by the Council of Mortgage Lenders that mortgages went up by more than a fifth by 21% last month.

This figure includes remortgages by homeowners hoping to secure a better mortgage deal, especially as there are strong rumours that interest rates are set to rise in the very near future. An interest rate hike is very unwelcome news after several years of the lowest Bank of England Base Lending Rate in history of half of one percent.

The total amount of mortgage and remortgage business arranged in March was the highest since Novermber of last year, and the sums borrowed are eleven point three billion pounds. However it is to be hoped that our feelings of optimism are not too soon as the amount of remortgages and mortgages advanced in March of last year was higher than this March, standing at eleven point five billion pounds.

Remortgages have faired better than mortgages, as in February they acheived their highest level for the last two years.

However although the housing and remortgage market is showing slight signs of improvement, there is still a long way to go before they reach their pre recession level.

Why are credit card rates so high when the base rate is so low? It has been widely reported in recent weeks that credit card interests rates have just hit a 13-year high. This may seem very unfair, especially when you look around at how interest rates in other areas are going.

For savers, it’s hard to find the ideal place to stash the cash these days, with building societies and banks offering top rates of only around a measly 2.9%. That’s considerably lower than the 18.9% reported average interest currently charged on new credit card accounts.

In the post Credit Crunch world you can’t even take if for granted that your savings are going to be 100 % safe: remember Northern Rock, Bradford & Bingley and Icesave, to name but a few recent disasters. Make sure that when you look for a safe home for your savings, you pick a UK regulated bank or building society account. That way, up to £85,000 of your cash is protected under the Financial Services Compensation Scheme. Those people lucky enough to have larger sums to invest should ensure they spread it around several accounts with different financial institutions, depositing no more than £85,000 in each.

The base rate has been at a record 0.5% low for several years now, and home-owners are enjoying rock-bottom repayment rates on their mortgages. So why is it that credit card customers can’t get a piece of the action and benefit from the low rates too?

The answer is that the rates charged by the card companies have no direct connection to the base lending rate, but are much more influenced by risk factors likely to affect the consumer’s ability to pay back their loan. So when setting repayment rates, the lenders are taking into account a variety of things like income levels, job security, rising unemployment, the rate of business failures, bad debts, and personal insolvency.

There are still some good deals, such as zero balance transfers, to be had, but card lenders are a conservative lot and increasingly choosy about who can get them. Banks and card companies point out that they have to cover the cost of fraud, bad debt and administration,even when base interest rates are low. For those who remember to pay their cards off in full every month, the credit they are getting remains free, in spite of the headline-hitting high average rates.

Charlotte Mooney is an IT professional with many years experience, now working for IT Software Consultancy Proswift, a leading provider of international credit system solutions to banks and finance houses. Click here for more topical stories from the world of credit card processing. ProSwift News

There is a nasty rumor in the business world. Coaches, healers, helpers, “well, ‘those people’ just aren’t serious about business.” I hear it all the time and there are some facts to back it up. Typically, helping professions earn less, focus less on numbers, and carry more debt.

According to Forbes.com: The salary of a life coach is six figures for only 10 to 20 percent of coaches. Since the median salary for life coaches in the United States is only $30,000 to $40,000 per year, it means that there are a lot of coaches who are making much less than $30,000.

I want to be the rumor crusher — which means we have to get real, be willing to watch numbers, and be serious business owners, not hobbyists. Here are the GET REAL Rules of Business. Follow these and you will make a fortune and make a difference!

There are no refunds for being lazy

Just because I am a coach it doesn’t mean I am responsible for you to show up, work hard, or succeed. We actually have people ask us to refund them for a program if they did not use it. This is not Wal-Mart. I want every one of you to have a refund policy and stick by it and stick to it. All businesses have policies and because we “help” people does not mean it is our responsibility to have someone show up for a call or open a notebook. I did my part. I created the product and delivered the program — clients have to do theirs. There are no refunds for being lazy.

If you have to say you are conscious — you may not be

There is a lot of conscious entrepreneur talk going around. It’s never a good idea to fly your “conscious” flag. How about work hard, make lots, give back, and let others call you conscious? Focus on the goal: to have a profitable business. Conscious is a title you get — not one you give yourself. If you use your money to make a difference in your life and others, you will be more than conscious.

Know the definition of business

The definition of business is: Economic system in which goods and services are exchanged for one another or money, on the basis of their perceived worth. Every business requires some form of investment and a sufficient number of customers to whom its output can be sold at profit on a consistent basis.

Business is profit. Business is not to make you feel good, others feel good, build community, or otherwise — it is great when it does those things. That is a side effect and a beautiful one, but when you put those above profit you will struggle. You will make this hard and you will go broke. Profit first — then all the other missions.

You can only save so much

You have to invest to make a business work. From day one I spent money in and on my business. I worked two jobs to do it. You can decide where it comes from, but you better have a financial foundation for your business. 1) day job; 2) loan; 3) credit; 4) spouse support; 5)current revenue; and 6) savings. Have a plan to SPEND money in your business. It takes investment.

Don’t throw like a girl

There is a lot of feminine energy talk these days. I am all for feminine energy and masculine energy and all energies, but don’t let it be your primary message. People want results. They want a plan. They need to pay their bills, lose weight, get clients, or be happy. Talk results; not concepts.

Be pissed off regularly

If you are still reading this you may not hate me — yet. But I get pissed off a lot and in a good way. I use that to teach, to share, and to stop people from making the same mistakes I did. Use your opinions — don’t hide them. People need more truth in business.

Get real or go home

This is business. This is entrepreneurship and it’s not for the faint of heart. It is not for everybody and frankly, many people I meet should not go into business. They can have a big impact on the world in multiple ways, but being a business owner is not their best path. Be serious. Be ready. Be willing. Be committed. Business is one of the most beautiful (and scary) journeys you will ever take. Get real or go home.

Suzanne Evans is best known as the ‘action expert’ and has coached hundreds of solopreneurs to model her multiple six figure business. Learn how you can help more people, make more money and have more fun doing what you love by signing up for your free copy of the 5-Part Mini-Course ‘Awakening Your Authentic Entrepreneur’ at http://www.helpmorepeople.com

Achieve an 80 paydex score and your business will be able to qualify for all the credit it needs.

Have you ever heard that statement before?

It’s by far the most misleading and misguided advice circulating the industry and unfortunately too many small business owners are buying into this misinformation.

In this post let’s shed some light on this very issue so you can gain a much better understanding of what to expect during the credit granting process.

First, in order to get a Paydex score your company needs at least four payment experiences reporting on your company’s Dun and Bradstreet credit file.

Now if you’re not familiar with Paydex scores it’s basically a unique dollar-weighted numerical indicator of how your business pays its financial obligations with scores ranging from 1-100.

Similar to how lenders use personal credit scores to determine a consumer’s creditworthiness a company or lender uses a business credit scoring system like Paydex to determine a company’s creditworthiness.

Keep in mind that the Paydex score is Dun and Bradstreet’s own scoring system while Experian has its own Intelliscore and Equifax uses the Small Business Credit Risk Score.

When it comes to Paydex a score of 80+ is considered a good score and some compare it to be like having a 720 personal credit score.

While many suppliers and creditors use Paydex Scores in the credit granting process there are many other factors that are looked at that fail to ever get mentioned.

These other factors include:

*Highest Available Credit Limits

*Payment History

*Types of Accounts

*Age of Accounts

*Debt to Credit Limit Ratios

*DNB’s Credit Limit Recommendation

For example, you can have four positive trade references reporting on your DNB file with $500 being the highest credit limit on all four accounts and still score an 80 Paydex.

This is because DNB’s rating system requires a minimum of four positive trade references but if the four you have are small limits then this hardly qualifies your business to get approved for thousands of dollars of cash credit, lease credit, business loans and business lines of credit.

In addition, having your business only listed with Dun and Bradstreet is like having only one personal credit file with one credit reporting agency.

Let’s say all you have is a personal credit profile listed with Equifax but have no file with Transunion or Experian. You would never be able to get approved for a mortgage because lenders do not have enough information to determine your overall creditworthiness.

This holds true for your business as well. In order to show your company’s complete credit picture you will need to have a profile established with all three major business credit reporting agencies.

So simply having an 80 Paydex score does not open the credit floodgates unless you have other positive factors listed above which ultimately play a key role in the size of the credit limits and payment terms that lenders are willing to extend to your business.

However, achieving a positive score of 80 does have its benefits and will enable your business to qualify for many net 30 and net 60 accounts with suppliers but don’t expect large credit limits until your company has proven itself with a solid payment track record as well.

Secured loans and remortgages are extremely useful loans.

Before discussing this, it is essential to explain the meaning of secured loans and remortgages.

They both fall into the group of loans known as homeowner loans and this is due the fact that they require a concrete form of collateral, namely the property of the borrower.

Remortgages and secured loans are very similar in most respects, with the major difference between them being that a secured loan is a stand alone product that ranks behind the first mortgage and a remortgage replaces the current mortgage.

With their very low interest rates, with secured loans starting at 7.9% APR and remortgages even lower at from less 2%, they are low cost means of borrowing.

The most important aspect in the interest rate granted by the lender is the equity in the property, with equity being the difference between the value of the property and it’s mortgage balance. The more equity the homeowner has available, the lower the interest rate will be.

The 7.9% rate is only available for secured loans at 60% LTV or less, and the same applies to remortgages.

Much money can be saved by these homeowner loans when they are used for debt consolidation which means the rolling of a number of credit card debts and personal loans into one single payment every month.

If someone has several loans and credit cards to pay every month the amount can be saved by debt consolidation can be tremendous, and can save hundreds of pounds monthly or even thousands of pounds for those with a significant amount of credit.

An example of this is that if a person has credit card balances totalling £40,000, the minimum payment monthly is £1,200 per month, a home improvement loan of £20,000 with a typical APR of 25% will cost about £400 a month over a ten year period.

A secured debt consolidation loan of £60,000 to clear this credit would cost half that sum over a ten year period, after which the debt would be completely paid off. If paying only the minimum of 3% of the balance of the credit cards , there would be another 16 years left, as experts reckon that credit cards take 26 years to clear if only the minimum payment is paid monthly.

In addition to being very cost effective for debt consolidation, secured loans and remortgages are normally the cheapest way of funding many objects from weddings, holidays, etc. right up to paying for a holiday home.

This all serves to make these two homeowner loans the most beneficial means of borrowing money.

Champion Finance has been established since 1985. They provide whole of the market mortgages, remortgages and secured loans . Helpful, sympathetic debt advice, debt managemet, debt consolidation and all other debt solutions are also available.When looking for a secured loan, remortgage, etc. look no further than Champion Finance.

Located in almost the centre of the country, Leicester is very well connected in terms of transport links, with its proximity to the M1 motorway. It’s also an important stop for trains going to and from London on the Midland Main Line, running straight into London St Pancras station, giving residents easier access to the continent via Eurostar services. Boasting two universities, both Leicester and De Montfort, and a range of good schools and shops, it’s an ideal commuter spot for families to find a property to settle in.

New property for sale in Leicester is very affordable, and a wide choice is available. In the west end area of Leicester’s city centre, Barratt East Midlands is selling two-bedroom flats at Freemens Meadow, which is within walking distance of the trendy Narborough Road and Braunstone Gate areas of the town. Prices start from £158,995, and Barratt Homes’ Head Start shared equity scheme is available for buyers looking to put down a 5% deposit, to gain 85% equity. The remaining 15% is funded by a deferred loan from Barratt, which is payable in ten years, or when the buyer sells the property.

A more rural option for buyers is another development from Barratt East Midlands, Kibworth Green. Located in the village of Kibworth, just a few miles away from Leicester’s centre and also within easy reach of neighbouring Market Harborough, with good access links to the A6, Barratt is selling two-, three-, four- and five-bedroom homes here starting from £159,995, going up to £249,995. For buyers in a hurry to move but with a home to sell, Barratt is offering a part exchange deal where they can make an offer for the existing home within just 24 hours. Kibworth itself features a range of independent shops and restaurants, so is a more relaxed option for those wanting a break from busy city life.

David Wilson East Midlands’ Scholars Grange scheme in Scraptoft is a similarly pretty rural development featuring family homes, with prices starting from £194,995 for three-bedroom homes. Recorded in the Domesday Book as Scrapentot, Scraptoft features a range of attractive listed buildings as well as a good selection of shops, with easy access to Leicester city centre. Stamp duty for buyers will be covered under a deal offered by David Wilson Homes.

Redrow is selling homes at the small development of Rossendale Gardens in Earl Shilton, five miles from Hinckley and ten miles from Leicester, starting from £154,995 for three-bedroom homes. Based close to Earl Shilton town centre, a 85%/15% equity share is available on some plots. A busy industrial town in the 19th and 20th centuries, with a rich local history, Earl Shilton is now a relatively small and bustling town, with around 9,000 inhabitants.

Coalville is another option worth considering for buyers looking for affordable new homes in Leicester and the surrounding area. Stamford Homes is selling three-bedroom homes at Ashby Heights starting from under £105,000 with the housebuilder’s EasyStart shared equity 75%/25% scheme. Stamford Homes will pay 25% of a home’s price for buyers with an interest-free loan of up to three years. Buyers can take out this loan for up to ten years, ensuring they manage to complete on the home’s purchase within the time period set by Stamford Homes. Buyers who reserve through this scheme will receive free fitted carpets.