Business Brokers create less need for a Sales Force

We pride ourselves in the bonds we grow with our clients, and the brokers that represent us with prospects. A key to a successful business relationship is friendly, courteous, and professional communication. In the financing industry there are deals that work, and there are deals that do not work, it is plain and simple.

Brokers are the lifeblood of our business. With constant communication and information exchanges, you can extend your salesforce exponentially. They may not be on our payroll, but they still have the broker fees that make up for not being connected to a financing business. These business relationships are what make business exciting. Every day there are new, and exciting deals that are pushed forward by the bridge builders. Working in the industry you get to see how businesses are developed, built, thrive, fail, stumble, and recover. It really opens up your eyes, and gives a valuable lesson in the business realm.

That being said, check out our friend Tom Dewell's blog, Alternative Commercial Finance , to learn more about his side of the business, learn some tips, and see another side of the coin in the finance world.

Lenders Commercial Finance: Your Answer to Factoring Loans

10 Reasons Why You Shouldn't Factor Your Receivables

Any small business has heard about a factoring company. They are very cookie cutter, expensive, and have a small window to fit in if you want financing. The problem with this is that if you do fit into that small window of doom, a factoring company will charge you a ton of sneaky fees, and rob companies of their profit.

Since here at Lenders Commercial Finance, we are not a factor, we are an asset-based lender; we will be discussing the benefits of using a company that likes to think out of the box when it comes to financing companies.

1. Advance Rates - that is the big part of the equation, as a small business, how much money will we get out of financing our receivables? Our rates on advance vary from 75%-90% of the invoice, as compared to 70%-85% that a factor will give. That means more bang for your buck!

2. Rate Periods - 
Factor - 5 Day, 10 Day, 15 Day, 30 Day Chunking
LCF - Convenient Daily Rate, No Chunking

3. Rates Applied To - 
Factor - Full Invoice Amount (Regardless of Advance Rate)
LCF - The Net Amount Advanced

4. Typical Rates - 
Factor - 2%-4% every 30 days
LCF - 0.069% to 0.089% for each day

5. Float Days - 
Factor - 3 to 5
LCF  - 1 or 2

6. Required Reserves -
Factor - Typically 10%
LCF - No Reserve Requirements

7. Factor All Your Accounts -
Factor - Usually Required
LCF - Not Required

8. Factor All Accounts with Single Debtor
Factor - Usually Required
LCF - Not Required

9. Factor When Confirmed with Debtor
Factor - Usually Required
LCF - Can Hold Your Invoices Up to 15 Days Before Due Date

10. Repurchase Your Invoices Early
Factor - Not Allowed
LCF - Allowed Anytime


There are the first 10 ladies and gentlemen!

As you stew over that pretty little list, I will start working on the next 10.

In the meanwhile...

Simple, Proven Ways to Increase Page Traffic

Anyone who has a blog, e-commerce store, or webpage, is always wondering: "How do I increase my ranking on a search engine?" There are a many different ways that apply to marketing experts, and amateurs alike.

These techniques are applicable to anyone in the field; a few easy steps will have you taking steps to increase the web presence of your site.

Start A Blog - It's easy, customizable, and with a little effort, you can have regular readers and glances at your blog. The topics do not have to be anything in particular, write about what is on your mind, sports, activities, hiking, cars, the world is your oyster. While writing your blog make sure to use keywords with links to your website to drive traffic. Hop onto Google Adwords and find some easy and difficult keywords to narrow your gaze on. Make sure to include pictures and keep it vivid! Consistency is key; if you start a blog, make sure you stay up to date on weekly updates. Post a picture, a list, a fun fact, stay consistent!

Free Stuff:  Who doesn't love free stuff? Scour the internet, find deals, drive traffic to your site by offering something for free, then add some advertising, and boom, sales & advertising that make you money. For a great example try out Sites180's lovely site, It's What Jen Says she knows her stuff!

Social Media: I say this with hesitancy, but yes, it does help. A twitter account can be helpful, by posting guidelines, 144 characters of knowledgeable information. Share links, photos, anything that may get someone to click on it. Avoid just trying to get followers, and find people that are in the industry and something you can talk about, connect to, plug if need be.

Facebook: This word does not mean start telling your friends to visit your site by posting pictures of cats talking, half naked women, or quotes by people who have died centuries ago. That word means post helpful, intelligent things, no baby momma drama. Ask your friends and acquaintances for opinions, suggestions, and constructive criticism. Make a fan page, but keep it current.

Pinterest: Selling things? Try pinning some ideas and uses for your products!

Directories: These bad boys are easy to use! Make a dummy email account, sign up, post your website under the correct indsutry, and away you go! Check this link out for a list of top directories that you may find useful.

Article Submission: Hop on Reddit, Digg, or any article based website, and submit something off of your blog. If it is approved by something like Ezine you never know where in the world people will be viewing your website from!

SEO: Try reading up on some Search Engine Optimization techniques. SEOmoz offers some great tools to learn how to start out. If you are too busy, hit the SEO link, and check in with one of the country's top firms.

Backlinks: If you have done business with other websites, ask for a link. Maybe they have a blog, and can post a positive review about your company.

Press Releases: For under 400.00 you can have a website write a press release for you, include an SEO package, and distribute it across the web. Watch your keywords jump up through the rankings as this easy-to-do, and low cost piece does its' due diligence for your company.


Take these easy tips, find some free time, and enjoy the journey.

As always, your faithful and loyal scribe, Mike

Lenders Commercial Finance - Factoring Loans

Say Hello To My Little Friend!

We at Lenders like to enjoy the humor in everyday life.

Here is another one of our finance jokes

Small Business Loans

Skin Care for Women

Eye of the Financier, my rocky comic

As any day goes by, a mind tends to wonder. Whether it be about what the plans are for the evening, the cadre of things you forgot to do at work, or in my case, what to blog about next. Writing an article about every good and bad thing that happens in an industry can become monotonous, tiring, and blatantly bland. With this thought in my mind, how do we change up a seemingly bland industry? My artistic side kicked me in the shin and said, 'hey, let's make popular cliche' movie lines into comics.' Thus my new blogging idea has sprouted; to take the most famous movie quotes, and turn them into cheesy, corny, and humorous one still frame comics.

So in the next couple of weeks, try to enjoy the dry humor I have, and if you're in the industry, maybe some of the themes will ring true. Make sure to drop a line, tell me what you think, and I'll be more than glad to comment back.

To start off, my homage to Sylvester Stallone in Rocky, with his famous line: "Yo Adrian, I did it!"

Earlier this year, as part of my bucket list tour, and since I am from Pennsylvania, I took a trip down to Philadelphia with my running buddy, and we did a 7 mile trek to the Philadelphia Art Museum, and climbed the legendary steps. It was a gorgeous October Sunday, the air was crisp, the streets were not overly crowded, and we had a plan. After scouring running blogs, and checking for signs of the route that Sly ran in the movie, I came across a remote map that wasn't completely accurate, but a good start. Panning through the training scene I found a couple of more roads. We started on the south side of Philly, 16th Street I believe, ran through the capital building, past the Rodin exhibit, through the Czech parade that was going past the museum. A perfect run, a great time, and an experience, I care to never forget. One of those cheesy moments in your life that will always make you smile.

With that being said, enjoy.

Luke, I am Your Factor!

So Sometimes at work, my artistic side takes over, and decides to make cliche' comics from common sayings. It keeps me occupied.

If you have suggestions, let me know! My wit does not run on for eternity.

Your Patowan for procuring financing for your small business loan,

Mike

Another lovely Press Release for Lenders CF

Lenders Commercial Finance Announces Innovative Full-Cycle Financing

An Alternative to Traditional Financing/Factoring

Alamo, CA January 28, 2012:  Lenders Commercial Finance, an Asset-Based lending group in the San Francisco Bay Area, has announced the launch of their new Full-Cycle Financing Program.

The tight credit market has impacted countless small and mediums sized businesses that are experiencing cash flow problems. The lack of sufficient operating history and the financial resources to qualify for bank financing often becomes a critical issue for businesses in the SMB space.

Designed to help entrepreneurs overcome the limitations of traditional business loans, LCF loan programs can solve a number of business challenges - building out or acquiring the inventory needed to book and fill new orders, meeting outstanding obligations, bridging cash flow gaps, and paying off obligations that are a drag on businesses.

Full Cycle Financing covers 100% of the cost of getting product from the manufacturer to a buyers loading dock. Post delivery, additional funding up to 90% of the invoice is available, providing additional working capital. Invoices are paid into the LCF lockbox, and fees are deducted from the remaining 10% - the balance is then remitted to Lenders clients the next day.

Ken Wilkens, CEO, commented, “The concept is easy, start when you would like, and stop when it makes sense for your business. LCF provides reasonable terms, rapid turnaround, no hidden costs, and no long-term commitments. Our business model is built on honesty and simplicity for client and customer. ”

Lenders COO, Cal McGinnis, remarked: “We designed this program to help the small manufacturers, wholesale distributors, and service companies who drive American industry to establish working capital lines of credit that have become a difficult find in today’s commercial finance industry.”

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Lenders Commercial Finance was founded by a group of San Francisco Bay Area entrepreneurs to help other business owners resolve the same cash flow problems that they experienced in building a number of successful businesses. Lenders provides asset-based loan programs, accounts receivable financing, and equipment dealer flooring services. For more information, please visit: www.lenderscf.com