Merchant Cash Advance Info

Buying Tools and Equipment with a Merchant Cash Advance

noreply@blogger.com (The AdvanceMe Team) — Fri, 29 Jul 2011 14:03:00 +0000

Why is it that only some people are able to take advantage of great deals while others are left wishing for the wherewithal to advance their lives and businesses? It’s true that there are plenty of ways to save money — if your business has the cash on hand to spend when the timing is right. But if it seems that the only time a good deal comes along is precisely when your business is in the weeds, consider using a Merchant Cash Advance to buy the tools or equipment available to those who can close the deal when it’s offered.

Great deals on new and used equipment, be it business tools like software, new computers and/or office equipment, or tools and machinery specific to your business, e.g., lawnmowers for landscapers, dishwashers for restaurants, day-care operators and salons, etc., are available through a variety of sources. Some deals may be had throughout the year, while others are best purchased at the end of a season or at the start of a new product launch. Still other deals are won simply by being in the right place at the right time—with cash in hand. For example, when attending a trade show, make your best business deal on the last day. Come Sunday, the last thing a manufacturer’s rep wants to do is crate up and ship home the equipments he’s been demonstrating all weekend.

If your business can’t afford this latest model, consider picking up last year’s release. If the equipment will enhance and/or improve your business, it’s an investment and a good use of a Merchant Cash Advance.

Buying used (pre-owned) machinery, tools and equipment can save money on expansion costs, increase productivity, business assets and net worth.

Look for nearly new equipment from bankruptcies, repossessions, plant liquidations and over-stocked inventory. Find these deals on the websites of business associations and user-groups specific to your business. While searching and interacting with your business peers, don’t forget to place an ad for Equipment Needed.

In addition, check out auctions, either online or live. Equipment here sells at a fraction of the original price, though be aware that this purchase is “as is.” Still, ask questions, negotiate repairs and have cash on hand to buy right then. Good buying is all about good timing.

Buying straight from the dealer may be another way to use a Merchant Cash Advance to make the best deal. As always, get references for new dealers.

Create a calendar of best times to buy and be prepared with investment cash to shop for appliances and health insurance in the fall. In winter, look for linens (including towels), carpeting and flooring. According to the American Home Furnishing Alliance, new furniture styles hit the showrooms in February, therefore expect to cash in on discounts of 10% to 50% on furniture in January. Also, because the Consumer Electronics Show and Photo Marketing Association conventions are held in mid-winter, which means new camera models arrive at retailers to coincide, why not pick up a deal on last year’s digital camera models?

Come spring, look for winter and cold weather uniforms in order to stock up on supplies of hats, gloves and jackets. Be sure to check in with your business’ promotional products vendor for deals on screen printing and embroidery. These businesses are gearing up for summer but should have time and winter stock to sell at a bargain.

Finally, summer is another good time to buy furniture because the industry releases new models in both February and August. Summer is also a good time to buy office supplies, and, around Labor Day, to pick up summer-weight uniforms.

The way a Merchant Cash Advance works, your business gets the lump sum of capital needed right away. Spend that on whatever auto-related purchase your business needs. Then over time, the obligation is handled through your credit card processor and normal sales activity. (Learn more about how a Merchant Cash Advance works.)

Paying Vendors with a Merchant Cash Advance

noreply@blogger.com (The AdvanceMe Team) — Thu, 07 Jul 2011 16:08:00 +0000

Ah, cash flow. The challenge of keeping cash coming in and going out at an even pace has stymied even the best of businesses. Sometimes, the juggling act of meeting payroll, paying vendor bills, and overseeing accounts receivable and collections, all while keeping the operation going, is more pain than pleasure.

One of the most important relationships in business is the one between the business owner and the vendor. Vendors are so important, in fact, that many business owners think of their suppliers as partners. That said, the customer relationship is equally important. Does your business offer discounts to preferred customers? Does it negotiate discounts for early or cash payment? Remember that everyone’s vendor is someone else’s customer. How can you optimize your business’ relationship with vendors to keep discounts and other forms of savings flowing in?

Offer your business vendor the distinction of being your “preferred vendor.” Let them know they can count on repeat business. Give them an idea of the volume they can expect over a year. While you can use a Merchant Cash Advance to get this relationship going, remember that they are best used as an investment tool. Consider using a Merchant Cash Advance to establish the following discounts with your business’ vendors:

Negotiate cash discounts – For some businesses, owners can offer vendors prompt cash payment for a discount. Turn around is fair play, so don’t forget to offer your business customers the same kinds of discounts. Again, a Merchant Cash Advance to cover your business’ bills should only used in an emergency situation. Paying cash is not an emergency, but with discounts, it’s an opportunity to save. Put the savings in a “discount” account and watch it grow.

Negotiate early pay discounts – Offer your business vendor prompt payment in exchange for the discount. Everyone loves to be paid quickly. It eliminates the need to chase down the money that is due. Offer to pay within five to 10 days for a discount.

Be a prepaid or advance payment customer – For many vendors, requiring prepayments is something saved for customers with little or no credit. But why not become a prepaying customer to your business’ most secure vendors…at a discount, of course.

Conventional wisdom has it that companies improve cash flow by sitting on their cash, delaying paying their bills until the last minute, thus allowing that cash to earn interest. However, for companies with the available liquidity, paying bills faster, and taking the discount, but also making advance payments, can improve profitability and cash flow.

Remember, while a Merchant Cash Advance provides working capital that business owners can use to cover sudden expenses, disruptions in services, or to stabilize cash flow during emergencies, the best use for a Merchant Cash Advance is as an investment in your company’s growth.

Placing a "dot com" behind your business

noreply@blogger.com (The AdvanceMe Team) — Thu, 30 Jun 2011 14:15:00 +0000

In a Network Solutions study of Small Business Success, 56% of small businesses have websites. Are you apart of that 44% of small businesses without a website? It is imperative that business owners utilize technology to its full potential to advance in their industries. Establishing and maintaining a business website is a great way to keep your customers informed on updates and promotions as well as interact with your target market. A website can pose as another sales channel outside of the physical location to sell products/services.

According to Internet World Stats, in North America as of March 31, 2011 there were 272,066,000 internet users. Within that number of users is potential customers for your business. Consumers are no longer rushing to the physical yellow pages book to find a mechanic, good restaurant or hair salon. They are looking for the “dot coms” to not only find their desired product or service, but to get them the best fit for their needs based on local search results, reviews and current promotions.

Having a web site is beneficial to your business for many reasons such as cost reduction, efficient advertising, market expansion, and keeping your business competitive. Although their maybe some drawbacks for business owners who are not tech savvy, training and/or outsourcing for website maintenance are options for your business and its long term goals.

With more than 27% of small businesses on Facebook, some business owners have taken advantage of it as an official website for the company. This cuts costs of setting up an actual website and is easier for them to maintain.

Guy Kawasaki made great points to why business owners settle for a Facebook fan page versus a website to have an online presence for the business. Facebook allow businesses to instantly interact with them without having to build up a buzz about a live website. However, Kawasaki also mentioned that there are drawbacks by only utilizing Facebook Fan Page.

When looking to setup a business website, it is helpful to research other company sites to get an idea of where to begin. Knowing what your competitors sites look like and market is important to know. In addition, knowing your target market will come in handy when choosing the right templates, content, and graphics that will capture their attention as well as represent your company’s brand. Give visitors an experience that will persuade them to visit your physical location to patronize. Give your “brick and mortar” customers reasons to go online. Create a testimonial section and be sure to include all positive feed back with an area for satisfied customers to add their good experiences as well.

Let’s say you are running a spa business and a potential consumer who is not in your geographic market would like to purchase a spa day. Allowing this patron to purchase their package and make an appointment online will be seen as a convenience so when the spa day arrives, the customer can walk in and begin a day of relaxation with no hassle. You are not only reaching consumers who may not be within your geographic area but you are offering a convenient online experience for them. E-commerce can work for products and service, so adding this feature to your website will be beneficial.

Business websites are a great enhancement and if used properly can take your business to the next level.

Upgrading POS systems with a Merchant Cash Advance

noreply@blogger.com (The AdvanceMe Team) — Thu, 02 Jun 2011 15:22:00 +0000

For most retailers, restaurant owners and even service providers, like hairdressers, installing or upgrading a point of sale (POS) system is a mandatory part of doing business. At their most basic, POS systems are used to balance the cash drawer, process credit cards, run reports, count inventory, print checks, act as a time clock for employees, and control theft. Advanced systems can be used for even more sophisticated processes, including developing target marketing strategies, tracking supplier purchases, and analyzing sales of each inventory item. Indeed, a POS system customized for your business’ needs is more management tool than cash register.

Here’s a quick overview of the three basic kinds of POS systems and a checklist of individual elements of all POS systems to use when considering a Merchant Cash Advance (or any other funding) to upgrade your business’ system. Remember that each comes with a seemingly endless combination of features and add-ons, so it is important to know what your business can handle and what it needs to bring in more revenue.

Standalone ECRs – Because data collection is limited to each electronic register, this system is best used by small independent retailers with a limited number of register sites. ECRs are the least expensive of the POS systems, yet they provide many helpful features, including automatic sales and tax calculation; calculation of change owed to the customer; sales report generation; capacity to sort food stamps and trading stamps (through programming of function keys); and scanning. This may be enough for your business. Using a Merchant Cash Advance to upgrade an ECR system is great idea if your business is generating additional sales or if it needs to, say, monitor the buying patterns of existing customers.

Network Systems – For larger businesses, network or ECR-based point-of-sale systems feature multiple terminals arranged into a primary/secondary configuration. One ECR in the store, equipped with extra memory capacity, serves as the primary terminal and receives data from the secondary terminals. These systems give businesses the capacity to manage storewide data and transmit it to main frame systems.

Controller-Based POS Systems – The top POS systems are controller-based systems in which each terminal is connected to a computer-the "controller" of the system-which receives and stores all sales, merchandise and credit data. It then checks all data from the terminals for transmission errors and reformats the data for use by the headquarters computer.

Picking a System for Your Business

It may be best to keep the existing software-based POS system or even move to a web-based package, especially if your business is mobile. When looking to use a Merchant Cash Advance to build sales and save time and money, look at the following:

Hardware – This includes a PC or module, display, keyboard and mouse, high-quality cash drawer, barcode scanner, credit card reader, receipt printer and label printer.

Inventory and other features – How quickly can your employees locate items in the system? Quickness here speeds and enhances the checkout process for the business and the customer. Check out additional built-in options for layaways, multi-payment plans and gift certificates.

Customer tracking and labels – Why not track customer's lines of credit so that they can buy now and pay later? Stored customer information can also speed up shipping by having labels with a customer's address all ready to go. Most POS systems will print shipping labels, but only select systems will also do price tags, shelf tags and customized labels.

Employees and security – Choose a system that has multiple levels of security access and password protection. Most POS systems can be used for clocking in and out, tracking commissions and employee hours.

Help and support – This is probably the most important element to consider for your business. The best manufacturers provide training through videos and manuals, but providers should also offer technical help through FAQs and online tutorials, as well as 24/7 phone and email support. Aside from learning how to use them, POS systems can have issues just like any piece of equipment, so find a company that offers excellent tech support and a warranty.

Get What You Need Quickly

One of the benefits of a Merchant Cash Advance is that it is a very quick method of obtaining working capital – sometimes in as few as 72 hours. This speed-to-funding can be leveraged by the business, which is especially helpful when upgrading and improving essential parts of your business.

The way a Merchant Cash Advance works, your business gets the lump sum of capital needed right away. You can spend that on whatever purchase you need for the business. Then over time, the remittance is handled through your credit card processor and normal sales activity. (Learn more about how a Merchant Cash Advance works.)

NewLogic Business Loan – Contender for The People’s Choice Award

noreply@blogger.com (The AdvanceMe Team) — Thu, 19 May 2011 14:35:00 +0000

We introduced you to NewLogic Business Loans, Inc. and its Flexible Loan Product in January 2011.

As noted, the “Mini-Payment” feature of NewLogic loans helps Business’ cash flow by creating smaller, more frequent payments instead of one lump sum monthly payment. Business Owners can choose one of two “Mini-Payment” plans. See Relevant links for more details.

Now NewLogic is a contender for the prestigious People’s Choice Award under the category of Favorite New Financial Service. NewLogic is in good company with fellow nominees American Express and Citizen’s Financial Group.

NewLogic Business Loans is our Favorite New Financial Service - make it yours!

***Voting is now closed. Thank you for your support***

Relevant links:

Post on NewLogic Business Loans, Inc.

http://www.merchantcashadvanceinfo.com/2011/01/introducing-newlogic-business-loans.html

NewLogic Business Loans, Inc. website:

http://www.newlogicbusinessloans.com/

How a NewLogic Business Loan works:

http://www.newlogicbusinessloans.com/howitworks.html

NewLogic Payment Plans:

http://www.newlogicbusinessloans.com/loans.html (check out the illustration showing the difference between the two payment plans)

Using a Merchant Cash Advance for Product Development

noreply@blogger.com (The AdvanceMe Team) — Thu, 05 May 2011 13:19:00 +0000

What is product development and how can ready cash help your business develop new products and improve existing ones?

New product development is the process of developing a new product or service for the market and it will help ensure the future of your business. Without innovation, fresh products and new ways to deliver or enhance core services, your business truly cannot survive, much less thrive among market trends and changes. But that doesn’t mean every idea for a new product or service can or should be developed.

There are essentially three basic steps business owners should take to create a successful new business development plan:

Idea generation – Often referred to as the “fuzzy front end” of the new product development process, business owners at this step look for new ideas by doing basic research in market and consumer trends; watching their competitors; conducting focus groups; listening to existing customers, employees, vendors; going to trade shows and reading their industry magazines.

It is a good idea to generate as many ideas as possible, pushing for an impossible number, say, 1,000, will force your new business team to really use their imaginations. Out of these ideas, a few will survive through implementation. Ideas in hand, business owners need to invest time in confirming their target market and its size; identifying the buyer of the new product or service; determining the need for (and unique proposition) of it; and identifying how the product or service will be produced. Regardless of how small your business is, developing new products and services still requires more thought than impulse. For example, a screen printer adding a new line of promotional products is certainly taking less of a risk than the same printer adding a second machine, but the thought process is essentially the same.

Preliminary review – This step requires identifying costs involved in manufacturing and marketing a new product, including materials, direct labor, overhead costs, marketing and sales costs, accounting and administration costs, equipment costs, outside professional services such as lawyers, trademark agents, etc., and any other related costs. If your business has a track record for developing new products, a Merchant Cash Advance could be a good way to pay for these initial costs.

How can a Merchant Cash Advance help? – Your business may well benefit from an infusion of cash to use for targeting the existing and new markets, hiring a consultant in new business development to help steer the process (and avoid costly mistakes) and complete the preliminary review. Do not use a Merchant Cash Advance to speculate or give in to impulses, but once the product or service, its costs and its target market have been fully researched, a Merchant Cash Advance can be an appropriate way to fund new ideas.

Green light, go – Once the new product or service has been green-lighted, determine which additional resources, including people, equipment and additional cash your business needs to create a trial run. (Tip: Consider offering beta customers a discount in exchange for testing and feedback.)

The beta run will provide both product-driven and service businesses with information about economies of scale and costs. Is the product selling at a rate that warrants investment? Is the service economical to your business? Does your business need extra supplies and materials? Must employees be trained to handle the product or service? If so, think about using a Merchant Cash Advance to fund this stage of development.

The way a Merchant Cash Advance works, your business gets the lump sum of capital needed right away. Spend that on whatever new business-related purchases your business needs. Then over time, the remittance is handled through your credit card processor and normal sales activity. (Learn more about how a Merchant Cash Advance works.)

Once the new product or service is ready to move from beta to launch, business owners should build a marketing program that includes the price, promotions and place for the new product. Developing new products and services can be an expensive process, but the benefit is not only that your business can make a profit but also that it is viewed as a market leader in the industry with good, consistent product development.

How has your business used a Merchant Cash Advance? What Product Development is your business planning this year?

The Social Landscape

noreply@blogger.com (The AdvanceMe Team) — Thu, 21 Apr 2011 16:00:00 +0000

Last month, CMO.com posted a one-page Guide to the Social Landscape, see link below.

If you and your business are new to social media, reading this is a good starting point. If you have dabbled in social media, this might confirm that you know what you are doing or, if not, help you get back on track.

The chart references the main social media sites and highlights what they might be useful for. If you are considering using Facebook to market your business, then the Guide shows you that it might be good for Customer Communication and Brand Exposure, but is not necessarily suggested for generating traffic or for search engine optimization.

Consider what your business goals are and see if you can align them with your planned social media goals. If traffic generation is a must for your business, then the Guide suggests using Digg and StumbleUpon. If Customer Communication is your business goal, then Facebook, Twitter, YouTube and Tumblr.are the suggested sites.

At AdvanceMe, Inc., we posted an article on the Utilization of social media for your business. It is not color coded, but it is insightful. Check it out at http://www.advanceme.com/utilizingsocialmedia.htm

CMO’s 2011 Guide to the Social Landscape:

http://www.cmo.com/sites/default/files/CMOcom-SocialMediaLandscape2011.pdf

Purchasing Company Vehicles with a Merchant Cash Advance

noreply@blogger.com (The AdvanceMe Team) — Thu, 07 Apr 2011 16:00:00 +0000

There will come a time in the life of your business when purchasing a car, truck or special needs vehicle just makes sense. While this does NOT include putting on a show of unearned success, the purchase of a company vehicle can be justified if your business is burning more miles from the family car than the family is or if the personal vehicle is insufficient to keep up with your business’ needs.

If your business can take advantage of tax breaks associated with buying a company car and if the purchase will not strain cash flow, then the time may be right to invest in a company-owned vehicle.

While automakers and dealers offering fleet deals used to look for buyers in the market for 10 or more vehicles, in today’s buyer’s market, business owners can find deals on purchases of three or four vehicles. For businesses that can pay cash for company cars, the deals may be even better.

Review the considerations listed below then decide if using a Merchant Cash Advance is the best answer for your business. Remember, while a Merchant Cash Advance provides working capital that business owners can use to cover sudden expenses, disruptions in services, or to stabilize cash flow during emergencies, the best use for a Merchant Cash Advance is as an investment in your company’s growth.

Considerations - Is the business delivering products, carrying more equipment or meeting with more clients? Congratulations! Your business is likely ready for its own vehicle. In fact, among the advantages of company-owned vehicles is their convenience for employees, the tax savings and the opportunity for mobile marketing and branding.

Employee convenience – Depending on the type of vehicle required, both employees and the company may benefit by the use of a company-owned car, truck or van. Plumbers, electricians and other similar types of businesses require specific types of vehicles in order to be able to do their jobs, so providing these employees with the right vehicle is not just a perk but a necessity. That said, don’t underestimate the value of a company car when creating an incentive package for employees.

Tax savings – The entire cost of a company vehicle can be taken as a corporate deduction. Be sure to keep careful records of your business’ auto-related expenses. There are two methods of claiming expenses:

Actual expense method - Keep track of and deduct all of your actual business-related expenses.
Standard mileage rate method - Deduct a certain amount (the standard mileage rate) for each mile driven, plus all business-related tolls and parking fees. For 2011, the standard mileage rate is 51 cents per business mile driven, an increase from the 50 cents per mile rate in effect for 2010.

Typically, the actual expense method provides a larger deduction at tax time for businesses driving newer vehicles. When using the actual expense method, deduct depreciation on the vehicle. To qualify for the standard mileage rate, the business must use it the first year the car is used for your business activity.

Marketing and branding – Gain visibility and generate new sales and income for your business by outfitting the new vehicle with simple and direct signage that builds brand recognition. (Tip: when investing in signage for your business vehicle, spend a little more for auto-related promotional products such as window decals, car door magnets or bumper stickers.)

A Note about Leasing:
Lease deals are typically offered on specific makes and models, and contracts may be difficult to change should your business’ needs change before the lease is up. As well, your business would have to pay a fixed, monthly amount for something that may not be the most suitable, like a truck, delivery van or other special needs vehicle. With a Merchant Cash Advance, your business can buy just the right vehicle and remittance is handled through your credit card processor.

How does a Merchant Cash Advance work? - Your business gets the lump sum of capital needed right away. Spend that on whatever auto-related purchase your business needs. Then over time, the remittance is handled through your credit card processor and normal sales activity. (Learn more about how a Merchant Cash Advance works.)

THIS IS NOT INVESTMENT, TAX OR LEGAL ADVICE. Consult with a financial advisor, accountant or attorney before making important decisions in these areas.

A Restaurant Owner’s Guide to What’s Hot in 2011!

noreply@blogger.com (The AdvanceMe Team) — Thu, 17 Mar 2011 19:11:00 +0000

The National Restaurant Association surveyed professional chefs (members of the American Culinary Federation) on which foods, beverages, cuisines and culinary themes will be hot trends on restaurant menus. The What’s Hot in 2011 survey was conducted in the fall of 2010 among more than 1,500 chefs.

The chefs were given a list of 226 food and beverage items, cuisines, culinary themes and preparation methods, and were asked to rate each item as a “hot trend,” “yesterday’s news” or “perennial favorite” on restaurant menus in 2011. They also list the Top 20 trends and the Top trends by category.

79% believed that nutritionally balanced children’s dishes were a hot trend for 2011 and 72% thought half portions would be a hot trend. 46% thought the Panini is yesterday’s news and Sliders (56%) seem to be on the way out. 51% thought mussels, clams and oysters are a perennial favorite.

For a restaurant owner it may be an interesting read, especially if your business stays on top of what is the next new thing or thrives on being the first to offer a certain dish. After all, knowing that hummus, smaller portions, children’s salads and home-made ice cream were included in the hot trends for 2011 is a good thing.

If your business’ budget cannot support the purchase of “locally sourced meats and seafood” (#1 trend by category for main dishes), it may support the concept of “mini meals – small versions of an adult menu item” (# 4 trend by category under kids meals). If your business’ demographic supports families, then perhaps highlighting nutritionally balanced children’s dishes may prove to be a positive for your customers.

Take a look at the results, http://www.restaurant.org/pdfs/research/whats_hot_2011.pdf
Planning to keep up with the latest trend? Let us know.

Purchasing Inventory using a Merchant Cash Advance

noreply@blogger.com (The AdvanceMe Team) — Thu, 03 Mar 2011 17:30:00 +0000

We would never suggest using a Merchant Cash Advance to go on a shopping spree, unless that spree was actually an opportunity to buy inventory at volume discounts. Such a purchase would maintain or advance your business.

As you know by reading this blog, a Merchant Cash Advance provides working capital that business owners can use to cover sudden expenses, disruptions in services, or to stabilize cash flow during emergencies. But the best use for a Merchant Cash Advance is as an investment in your company’s growth. How can small businesses determine whether a Merchant Cash Advance will help grow their company? First, determine the Return on Investment (ROI), taking care that the investment planned exceeds the all-in cost of the investment.

Managing cash flow well means buying enough inventory to keep customer orders filled but not so much that sitting merchandize must be discounted. Indeed, since inventory is arguably the largest asset on your business’ balance sheet, without careful planning, excess inventory can quickly wreak havoc with its cash flow. At the same time, passing up a great opportunity due to a lack of ready cash does not make good business sense.

Since many small businesses fail from a lack of planning, including inventory planning, owners should develop a preseason worksheet that is more than a budget or forecast of the season’s cash flow. Use the worksheet to create a strategic plan for inventory, sales, and discounts. Include unusual seasonal factors related to severe weather and other emergencies, but don’t forget holidays come with both related expenses and opportunities.

Here are some considerations when it comes to using a Merchant Cash Advance to help plan for and buy inventory:

Plan your business’ sales – For small businesses, a simple spreadsheet using the POS sales history can be all that is needed. Factor last year’s sales and make adjustments for unusual events, like severe weather, single promotions, items out of stock, etc. Include price increases or decreases by percentage based on a reading of an item’s potential for the upcoming season. A Merchant Cash Advance might be useful to buy the excess inventory of a less organized business owner.

Plan your business’ inventory – Have enough to set up displays, support planned sales until the next delivery and provide a cache in the event of a spike or late delivery. Consider using a Merchant Cash Advance if inventory needs fall between the cracks of your business plan.

Plan for seasons – Owners of surfing or ski shops, for example, know just how tight their cash flow can get in the off-season and may have to turn down a great deal just when it would best serve them to invest. Using a Merchant Cash Advance to optimize sales on inventory is good planning.

Plan for holidays – Regardless of how seasonal your business is, retailers, restaurants and service providers can use a Merchant Cash Advance to buy holiday-themed merchandise or supplies.

Plan your business’ discounts – Especially if your business attracts bargain hunters, plan your markdowns to coincide with arrivals of fresh inventory purchased with a Merchant Cash Advance. Many shoppers will mix bargains with purchases of new items thus upping the average sale. And, since most pay with credit cards, retailers, for example, can be advanced more money from their MCA provider.

Work your business’ plan – Use an inventory plan as a tool for tracking your business’ selling season and forecasting future sales. Track your opportunities as well. If there’s a pattern of peaks and valleys --- and there will be --- consider a strategy for using a Merchant Cash Advance in the coming season.

A Merchant Cash Advance can be a real boon if your business is in a position to take advantage of an unexpected opportunity to buy inventory at a significant discount --- if paid in cash, right now. Just remember, a great deal on inventory is a great deal only when your business can make a profit quickly.

Get What You Need Quickly

One of the benefits of a Merchant Cash Advance is that it is a very quick method of obtaining working capital – sometimes in as few as 72 hours. This speed-to-funding can be leveraged by the business, which is especially helpful if the inventory you hope to buy will go only to the first bidder.

The way a Merchant Cash Advance works, your business gets the lump sum of capital needed right away. You can spend that on whatever inventory your business needs. Then over time, the remittance is handled through your credit card processor and normal sales activity. (Learn more about how a Merchant Cash Advance works.)

Entrepreneurial Ideas from around the world

noreply@blogger.com (The AdvanceMe Team) — Mon, 28 Feb 2011 19:48:00 +0000

Looking to start, grow or expand your business? Looking for that million dollar idea? Need some inspiration? Take a look at SpringWise, http://www.springwise.com/.

The site lists entrepreneurial ideas from around the world. It is updated daily using a network of 8,000 “Springspotters” from over 70 countries. You can sign up for a free weekly email or go to the site and see weekly updates or search by category.

Not interested in searching? They have compiled a Top 20 business ideas & opportunities for 2011:

http://www.springwise.com/businessideas2011/.

One interesting restaurant-related idea is, Grub with Us, they organize 'social meals' designed to “build friendship over food at restaurants that you've voted to be on the site.”

http://www.springwise.com/food_beverage/group_dinners_aim_to_introduce/

A simple marketing idea - bring like-minded people together for a meal and offer them something they will be interested in. If you are a restaurant owner, think, Sport lovers Monday, Dog Lovers Tuesday, Wine lovers Wednesday…or go with the food, Nacho lovers Thursday, Pizza lovers Friday…or perhaps, for date night, Saturday, offer an early bird for those movie lovers (with a promise to get them fed in time for the previews).

For Sunday, well…mix up your favorite, end of the week drink and give it a snazzy name. Do something for those special occasions, take the green beer, St.Patrick’s Day idea to other celebrations like, Mother’s day Mango Margarita (http://www.drinkswap.com/mango-margarita.htm or Mozarella sticks, if you are going with the food theme), Valentine’s day Vesuvio (http://www.drinkswap.com/vesuvio.htm) or Tax Day Tender Loving Care (http://www.drinkswap.com/tender-loving-care.htm).

Check out more restaurant-related ideas at, http://www.springwise.com/food_beverage/ or some marketing ideas at, http://www.springwise.com/marketing_advertising/

Even if you do not find any inspiration for your next big thing, perhaps a savings tips for a budding financial guru in your life, http://www.springwise.com/financial_services/ekomini/ or a charity you can get on board with, http://www.springwise.com/non-profit_social_cause/.

Other business idea sites are; http://www.coolbusinessideas.com/, http://www.thenewbusinessidea.com/ and http://www.businessideas.net/

What business idea did you like?

Ready, Set, Go – Have a great 2011

noreply@blogger.com (The AdvanceMe Team) — Thu, 03 Feb 2011 14:30:00 +0000

Back in December, were you excited about 2011? Were you just glad to be done with 2010? Did you think: “My business can do great things in 2011?”

How about now? If your answer is yes to these questions, then great…but keep reading!

Not sure how to respond? Or, is the answer a definitive no? Here is some help to get you going.

Starting today, do (think about and write down) one thing a day for 10 days and your business will be on its way to a great 2011.

Day 1 - Choose an employee to recognize

It does not have to cost anything, but recognizing an employee is good for morale and retention. Write a personal note, give a token gift card, bring in lunch (if your business is a restaurant, yes, from another restaurant – they may return the favor!), get a masseur in for free neck and back massages or buy some movie tickets. A simple thank you goes a long way

Day 2 - Pick an area of focus

What is your business focus this year? Is it revenue generation, cost cutting or hiring? Is it expanding or trying to do more with the same resources? It is necessary to know what your business should focus on in 2011. If it is more than one thing, you may need to prioritize your attention on each one so you do not get overwhelmed, or worse, lose focus in one area at the expense of the other.

Day 3 - Write down your business’ goals

Just as you had a written business plan when you launched your business, having a written set of goals can keep you on track. Identify your business’ focus, then write down three goals for each principal area of focus. If a focus is revenue generation, then the goals may be to increase online purchases, to increase in-store purchases, to increase product offerings or to partner with another business. Whatever the focus is, set goals on paper to keep you and your business on track.

Day 4 - Market your business

Take each goal and decide how best to market your business to meet that goal. Analyze where you currently are and where you need to be to meet your goal. If your goal is to increase online purchases, determine if you need to increase new visitors or convert repeat visitors or both. Offer free shipping coupons to your online customers to give to their friends and family or a % off coupon for your in-store customers to give to their friends and family. Whatever your business’ goals are, decide what initiatives you want to pursue to market your business and meet those goals.

Day 5 – Delegate tasks

Nobody can do everything. Make a list of what you should delegate. Not “good” at delegating? Make a list of the tasks you want to unload and then place a name beside it. If the person is paid to do the task, is better at doing the task or will look at it as a growth opportunity (maybe the person(s) you recognized on Day 1?), add them to the task. Taking tasks from your to-do list gives you time to work on promoting the business.

Nearly half way there…keep going…

Day 6 - Know what you need help with

Just as you delegated work to others on Day 5, seek help from others to keep your business running optimally. We cannot all be experts at everything and even if you were - - who has the time? The quickest way from point A to point B, may not be a straight line. While delegating tasks you may discover that there are important areas like bookkeeping or tax accounting or event planning that need the attention of an expert. Make a list of what you need help with and research the options. Check out your local universities for the skills you need. Many students would welcome the experience.

Day 7 – Reach out to the government

The Small Business Administration (SBA), http://www.sba.gov/ has lots of tools and services that you can take advantage of such as:

Articles on various topics from finding a mentor and preparing your finances to energy efficiency.
Links to beneficial sites like:

The SCORE website, a partner of the SBS dedicated to the success of small businesses. http://www.score.org/
The Women Business Centers, representing women business owners. http://www.awbc.biz/
The Veterans Business Outreach Centers. http://www.sba.gov/content/veterans-business-outreach-centers

The US Chamber of Commerce is a community of Small Business Owners, http://www.uschamber.com/. They have a blog with up-to-date information, http://www.uschambersmallbusinessnation.com/community/small-business-blog. You can also check out your local chapter and list your business in their directory, attend their events or see if you can avail of any of the member benefits.

Day 8 – Read all the time

There are lots of good websites with beneficial information that you can adapt to your business. There are also books that give ideas for you to apply to your life or business, e.g., the concept behind “The Tipping Point”, by Malcolm Gladwell, is that little things can make a big difference. Like that, small changes in your business can make a big difference.

Check out some periodicals (online/print) that are related to your business. They will have topics of interest and a list of vendors. Yahoo has a list of periodicals by industry or business topic: http://dir.yahoo.com/Business_and_Economy/Business_to_Business/News_and_Media/Magazines/Trade_magazines/

Sign up for email newsetters from relevant new sources so you keep updated on industry-specific information.

Take what you think is a good, relevant idea for your business and add it to your list of things to consider.

Day 9 – Buy used

If you need cutlery for your restaurant or a chair for your office - - why buy new? Used is cheaper and it may be all you need. Make an inventory of what you need, prioritize it, and then shop around. Some potential sites are:

• Government surplus:
http://www.business.gov/manage/government-auctions.html
• Auction sites, http://www.e-bay.com/
• Used Autos, http://www.autotrader.com/
• Kitchen Restaurant Supply:
http://www.kitchenrestaurantsupply.com/index.cfm
• Computers, http://www.usedcomputer.com/

Day 10 – Thank your customers

This should be done on Day 1, but I left it until Day 10 because, you need to do this every day going forward. Every business is different, but the reality is the same; it costs less to keep a customer than to gain a new customer. Taking the time on a daily basis to thank your customers and then reaching out to them periodically is vital to the success of your year and your business. Make a list of suggestions that might apply to your business. Consider how you can communicate with your customers by whether you see them, talk to them, email or mail to them. Some suggestions are:

Gather emails and send a periodic update about your company with an offer included.
Gather mailing addresses and mail out a postcard with a call-to-action offer. Increase sales and keep your customer coming back.
Thank them after every purchase, in person or via email.
Create a rewards program, like a punch card for a free lunch or free spa treatment or a referral program for 10% off coupon for referring a friend.
Offer promotional items like annual magnets, calendars, pens, notebooks as a thank you.
Give on the spot discounts to repeat customers.
Request suggestions to make your business better and give a gift and a thank you when you implement their suggestions.

Summary

To recap, get excited about your business this year with 10 things to do:
1. Choose an employee to recognize
2. Pick an area of focus
3. Write down your business’ goals
4. Market your business
5. Delegate tasks
6. Know what you need help with
7. Reach out to the government
8. Read all the time
9. Buy used
10. Thank your customers

Useful links:

Small Business Administration, http://www.sba.gov/
US Chamber of Commerce, http://www.uschamber.com/
AMI’s website, http://www.advanceme.com/
NewLogic’s website, http://www.newlogicbusinessloans.com/

FinovateEurope 2011

noreply@blogger.com (The AdvanceMe Team) — Mon, 31 Jan 2011 21:35:00 +0000

FinovateEurope 2011 will be held in London on February 1, 2011. This conference series will bring together many “cutting-edge financial and banking technology innovations from and for the European market.”

See FinovateEurope 2011 website, http://www.finovate.com/europe2011/

Like FinovateFall 2010, it will feature many demos from the top executives of financial technology companies.

The list of Reasons to attend FinovateEurope 2011, include:

• Getting an edge on the competition
• Innovative companies will “Not only will they inspire you, but they will also help you compete.”
• Beneficial fast-paced demos and networking sessions

For a list of presenters at FinovateEurope 2011, http://www.finovate.com/europe2011/presenters.html

Capital Access Network, Inc. (CAN) introduced the concept of Daily Remittance and their Daily Remittance Platform™ or DRP at FinovateFall in New York and will demonstrate DRP’s integrating functionality, daily amortization and daily accounting module and its international fluency at FinovateEurope.

See FinovateFall Video of CAN Demo, http://www.capitalaccessnetwork.com/viewvideo/finovate

For finance providers, DRP allows underwriting based on actual performance of similar businesses, rather than merely typical bureau reports and credit scores such as FICO (in the U.S).

For Small and mid-sized businesses, or “SMBs”, Daily Remittance aligns the finance provider’s desire to manage risk with intra-month reductions of the SMB’s account balance with the SMB’s desire to align remittances more closely with cash flows experienced within its business.

CAN is the parent company of AdvanceMe, Inc. (AMI), a leading Merchant Cash Advance (MCA) provider, and NewLogic Business Loans, Inc. (NewLogic), a “Main Street” business loan provider. Both AMI and NewLogic utilize CAN’s DRP. For Merchants considering a MCA that aligns remittances more closely with their business' cash flows, consider doing business with AMI. For Merchants considering a business loan that offers a “Mini-Payment” feature that helps SMB cash flow by creating smaller, more frequent payments instead of one lump sum monthly payment, consider NewLogic.

Useful links:

See FinovateFall 2010 website, http://finovate.com/fall2010/

See CAN daily remittance section, http://www.capitalaccessnetwork.com/dailyremittance.html

See Advanceme’s website, http://www.advanceme.com/

See NewLogic’s website, http://www.newlogicbusinessloans.com/

Introducing NewLogic Business Loans

noreply@blogger.com (The AdvanceMe Team) — Thu, 20 Jan 2011 14:23:00 +0000

In November of 2010, our parent company Capital Access Network, Inc. (CAN) proudly announced that it will make loans available to small and mid-sized businesses (SMBs) through its subsidiary, NewLogic Business Loans, Inc.

Quoted from a recent CAN press release:

“NewLogic loans bridge the gap between alternative funding products and bank financing, integrating the speed and flexibility of non-traditional working capital options with many of the structures of other commercial loans. Loans will be offered with a pre-set monthly payment amount and fixed maturity date, but with unique features. Qualified borrowers can choose between payment plans; either a structure with flexible, daily payment amounts designed to help SMBs better manage the ebbs and flows of payment card sales in an unpredictable economic environment, or one with fixed payment amounts designed for those who prefer the predictability of fixed payments while still avoiding the one, large, monthly lump sum payment that often strains SMB cash flow management.

NewLogic will employ CAN FinTech Group's Daily Remittance Platform™ (DRP) to handle its transactions. DRP moves beyond simple credit score-based underwriting, which CAN has not found to be predictive of business performance. DRP relies more heavily on recent card sales in its approval process, thereby improving risk decisioning and expanding the delivery of capital to more SMBs. This platform also enables the integration of processing and the provision of capital, providing new, flexible payment options to SMBs, and risk management benefits to capital providers who will now see sales income streams via the business' credit card processing settlements daily.

Mini-Payments

The “Mini-Payment” feature of NewLogic loans helps SMB cash flow by creating smaller, more frequent payments instead of one lump sum monthly payment. SMBs can choose one of two “Mini-Payment” plans:

Processor Powered Payment Plan - allows SMBs to make loan payments through their credit card processors in amounts that vary with their card sales volumes -- providing an option to owners who are uncomfortable with a fixed, daily payment amount.
Weekday Fixed Payment Plan - permits SMBs to make automatic payments with fixed amounts each weekday through the Automated Clearing House system - providing an option to owners who prefer the consistency of pre-set, daily payment amounts.

Another key feature of NewLogic loans is the quick turn-around on loan approval decisions. The application is evaluated in hours, rather than weeks. Plus, the approval decision is primarily based on the history and performance of the business, rather than the business owner's personal credit.”

Unique in features and flexibility, NewLogic business loans are another great way for “Main Street” businesses to handle working capital needs and remain in control.

You can learn more about this exciting new option in small business financing by visiting www.NewLogicBusinessLoans.com.

Black Friday 2010 Sales Activity Reported

noreply@blogger.com (The AdvanceMe Team) — Fri, 10 Dec 2010 15:32:00 +0000

Capital Access Network (CAN)’s Data Services Division released a free report on the credit sales trends of small and mid-sized businesses during the “Black Friday” shopping weekend. This is an annual report compiled and released by CAN’s Data Services Division.
View the report here: http://www.capitalaccessnetwork.com/sbcsreport.html

The Black Friday Report is a focused snapshot of “Main Street” business activity that fosters a unique perspective on year-over-year credit sales trends.

Selected highlights from the 2010 Black Friday Special Report include:

Approximately 40% of Main Street merchants surveyed by CAN reported increased overall sales for the 2010 Black Friday Period compared to 2009
Restaurants as a group showed gains during the 2010 Black Friday period
Same store card sales of Merchandise Retailers (such as jewelers, boutiques, toy stores, clothing stores, electronics retailers, sporting goods stores, gift shops, etc.) declined more than the total group of Main Street businesses with a 2% dip in 2010 as compared to the 2009 Black Friday period.

Report Data Notations

Merchants included in the data sample represented in the SBCS Report are drawn from 10 million+ data records collected from over 50,000 businesses and housed in the databases of CAN’s Data Services Division. These businesses are U.S.-based, small to mid-sized and represent approximately 385 Standard Industrial Classification (SIC) codes. All represented businesses accept credit and debit cards as a form of payment. This SBCS “2010 Black Friday on Main Street” Special Issue is based on data from businesses with the following characteristics:

Average Annual Gross Sales of $785,000 ($98,000 to $4,000,000)
Average Monthly Processing Volume of $24,000 ($2,400 to $150,000)
Average Ticket Size of $150 ($8 to $1,225)

View the report here: http://www.capitalaccessnetwork.com/viewdocument/SBCSBF2010.pdf
And older Small Business Credit Sales reports (including other Black Friday Special Reports for comparison) can be found there: http://www.capitalaccessnetwork.com/sbcsreport.html

Using a Merchant Cash Advance for Computer Systems

noreply@blogger.com (The AdvanceMe Team) — Mon, 06 Dec 2010 22:25:00 +0000

The best uses for a Merchant Cash Advance are those that build the profitability of the business. That means the Return on Investment (ROI) of the investment planned exceeds the all-in cost of the investment.

A shorthand approach to ROI calculation1 for a Merchant Cash Advance-driven investment is as follows: Does the expected additional profit the business will realize from the investment – over a reasonable period of time – exceed the total cost of the investment?

Most businesses using a Merchant Cash Advance for computer systems or software programs are on the right path for realizing a positive ROI.

Increased Efficiency Equals Increased Profitability
If you have been considering updating the computers or adding new systems to your business but were hesitating, a Merchant Cash Advance might be the perfect way for you to get it done.

Increasing efficiency is often the first step toward increased profits. The following are just some of the more common examples of computer equipment and software/programs that a business may consider:

POS Systems and software – In most retail establishments, a point-of-sale (POS) system helps the business in a number of ways. Able to scan barcodes and instantaneously retrieve product and pricing information, POS systems help to maintain inventory levels and improve sales efficiencies. In some cases, a business may be able to use a Merchant Cash Advance to add a new POS system, or perhaps upgrade an existing system to one that is more robust.
Inventory management servers – In restaurants, retail, and even many hospitality businesses (spas and salons, etc.) having a dedicated server to manage inventory data is becoming a very common practice. An on-site server can help the establishment with identifying inventory turnover rates, reordering, and even how to maximize the sales process.
Laptops and Smartphones/PDAs – If your business has a sales staff that might frequently travel, purchasing laptops and other communication devices can help you to increase levels of teamwork and open (or improve) channels of communication.
Software – Depending on the business type, there are MANY software packages that might bring long-term benefits. From general accounting and bookkeeping programs (like Quickbooks) to industry-specific inventory management packages for different retailers, the right software can certainly help profitability. A Merchant Cash Advance might be used to buy a variety of different programs that help your business operations.
Creative programs – If you have a staff member how has the skill-set to develop advertising and marketing materials, the right programs may allow you to bring your business’ advertising efforts in-house. Adobe’s Creative Suite or video editing software and hardware can offer a great ROI when a business can self-produce professional-level advertising.
System failure – Unfortunately, computers and systems are very susceptible to failure. If your business is dependent on computers and the machines fail, replacing them must happen quickly. A Merchant Cash Advance can be a smart answer for quickly handling the situation and staying competitive.

Of course, these are only some of the many options your might consider for computers and programs. A lot of the decision-making process will depend on your business type and should be properly balanced by the anticipated ROI.

Get What You Need Quickly
One of the benefits of a Merchant Cash Advance is that it is a very quick method of obtaining working capital – sometimes in as few as 72 hours. This speed-to-funding can be leveraged by the business, which is especially helpful if attending a computer failure or systems emergency as noted above. Having the capital to reinvest immediately might mean the difference in saving or losing critical data.

The way a Merchant Cash Advance works, your business gets the lump sum of capital needed right away. You can spend that on whatever computers and software you need for the business. Then over time, the remittance is handled through your credit card processor and normal sales activity. (Learn more about how a Merchant Cash Advance works.)

What do you think? When was the last time you bought or updated the computers in your business?

1. ROI calculations are usually far more complex than the shorthand calculation offered here. See http://www.captureplanning.com/articles/79375.cfm? for a more detailed, and therefore accurate, way to calculate ROI.

Using a Merchant Cash Advance to Help with Payroll

noreply@blogger.com (The AdvanceMe Team) — Fri, 19 Nov 2010 19:46:00 +0000

As we have highlighted many times on this blog, a Merchant Cash Advance provides working capital that business owners can use for any business purpose. One way that some of our customers have used this business capital is to help manage payroll “disruptions.”

Before going any further, it is important to point out that a Merchant Cash Advance is definitely not intended as a means to handle routine payroll needs. Regular payroll expenses including prompt and timely payment of all payroll-related taxes, should be anticipated and paid as a part of normal cash flow planning and management. Merchant Cash Advance should be considered for payroll expenses only in a few special circumstances.

Here are a few examples of special situations where businesses in the past were able to successfully leverage a Merchant Cash Advance to help handle special payroll circumstances:

Bring on the seasonal help: The holiday season or the “high season” at resorts are the time of year many retailers, restaurants and other small businesses do the large portion of their yearly sales. Heavy, seasonal traffic flow through the business requires temporary sales help or additional part-time. However, having the extra money up-front to be able to hire and train these part-time staffers can be a challenge – particularly if other costs (i.e., inventory, advertising, etc.) are also rising in anticipation of the additional traffic. It is a win-win situation for many of our customers.
To free-up working capital in slower times: Many businesses might be semi-seasonal, or have times where sales are definitely slower. Some of our past customers have used a Merchant Cash Advance to help manage payroll expenses during these slow times, so that the business can retain quality, trained employees during the slow times.
Correcting payroll errors or oversights: Sometimes, an error, a glitch or an oversight in payroll can result in a sizable sum being owed to employees or to a government taxing authority. In these rare cases, a Merchant Cash Advance can be used to handle the corrective measures without disrupting the normal cash flow of the business. The employees get paid right away, but the business is able to use a Merchant Cash Advance to absorb the cost more slowly, over time.
To stabilize operations if something else crops up: Sometimes an emergency or unplanned expense will require money. In these situations, a Merchant Cash Advance can make a great choice to help hold on to the best employees until the emergency is handled and normalcy is restored.

To reiterate: a Merchant Cash Advance should not be relied on as a means to REGULARLY handle costs associated with payroll. If your business’ ability to meet payroll obligations, including taxes, is a recurring problem, a Merchant Cash Advance is probably not the solution. However, as illustrated by the few scenarios above, there are a few instances where extenuating circumstances can make a Merchant Cash Advance a very good choice to help you to meet, or even exceed your goals.

THIS IS NOT INVESTMENT, TAX OR LEGAL ADVICE. Consult with a financial advisor, accountant or attorney before making important decisions in these areas.

What do you think? Are there specific times in your business when additional capital for payroll could create advantageous situations to earn more?

Spending a Merchant Cash Advance Wisely

noreply@blogger.com (The AdvanceMe Team) — Fri, 04 Jun 2010 00:00:00 +0000

One of the common questions we receive about a Merchant Cash Advance is about how it can be used. The good news is this working capital can be used for any business need!

As the nation’s leading provider of Merchant Cash Advances, we see how businesses are spending them every day. We thought we’d share this information with you.

We asked one simple question to all customers receiving a Merchant Cash Advance: How Will the Business Spend the Merchant Cash Advance?

Potential answers were: Business Working Capital, Remodeling/Upgrades, Equipment Purchase, Buying Inventory, Expansion/ New Location, Business Taxes, Training, Trade Show Participation, Advertising/Marketing, Buying out a Business Partner, Product Development, Payroll, Temporary Staffing and “Other.”

To group similar strategies for comparison, we divided the potential uses into 3 groups:

Working Capital
Growth Initiatives (Remodeling/Upgrades, Expansion/ New Location, Equipment Purchase, Advertising/Marketing, Buying Inventory, Buying out a Business Partner, and Product Development)
Stabilizing, Emergency or “Other” uses (Business Taxes, Training, Trade Show Participation, Payroll, and Temporary Staffing)

We reviewed and compiled the answers given over a period of six months, spanning Q4 2009- Q1 2010.

Survey Says
While just over half of the responding merchants (53.05%) stated their businesses were seeking Business Working Capital, 37.08% were looking for funding to handle the costs of growth initiatives, and only 9.87% were looking for cash for stabilizing, emergency or “other” uses.

These results suggest that the most popular ways for businesses to use a Merchant Cash Advance these days are for positive growth initiatives and for working capital. Most businesses seem to be obtaining a Merchant Cash Advance with an eye trained on the future.

The full details of this study can be accessed in the Flash video linked here, on AdvanceMe's Merchant Cash Advance Details page. You might also want to view the How a Merchant Cash Advance Works page for additional information.
Apply when ready!

What do you think? What do you think about these results? Do the numbers align with how you assumed they would stack up?

The Love a Local Business Competition

noreply@blogger.com (The AdvanceMe Team) — Wed, 24 Mar 2010 15:55:00 +0000

This competition is being sponsored by Intuit, and has some great prizes to offer small businesses. It’s free to enter, and easy to participate – you could win a $30,000 grant for your small business! Visit: LoveaLocalBusiness.com to nominate or comment on a business you love.

How It Works
Intuit has created a site where profiles of local businesses can be created. Fans of the business, which might include employees, customers, vendors or other community members, offer a brief comment about why they love the local business.

In March, every entrepreneur who enters their own business is awarded a $100 Google AdWords grant, making it even more attractive to get involved.

Five local businesses will be selected to receive a grant worth $5,000 for their business. From these, one business will be selected by guest judges to receive an additional grant worth $30,000 – making the total prizes awarded in March $50,000.

For more on the Grant contest:
http://smallbusiness.intuit.com/blog/where-small-is-now/2010/03/grow-your-business-with-a-30000-grant.html

For more on the $100 AdWords grant:
http://smallbusiness.intuit.com/blog/where-small-is-now/2010/03/every-business-wins-100-google-adwords-grant.html

AdvanceMe’s BIZ CASH NOW iPhone App: Making Merchant Cash Advances Easier Than Ever!

noreply@blogger.com (The AdvanceMe Team) — Wed, 30 Dec 2009 16:09:00 +0000

If you have not already heard, in November, we were proud to develop and release an iPhone application designed to specifically serve the needs of Merchant Cash Advance customers.

Looking through Apple’s iPhone store, we noticed that while consumers have many calculators and tools available, there were not many designed to specifically help small business owners who are seeking working capital for their businesses. Our BIZ CASH NOW app is intended to help fill this void.

Benefits of the BIZ CASH NOW app include:

A built-in, real-time calculator which gives small business owners the ability to quickly estimate the MCA amount that may be available for their businesses
Industry-specific special promotions, which provide small business owners with opportunities only available to BIZ CASH NOW app users
A Simplified Merchant Cash Advance application that helps small business owners complete and submit a request for an MCA and all the special promotions for which the business qualifies
A Frequently Asked Questions section that simplifies the application process

There is more information here: http://www.advanceme.com/iPhoneApplication.htm
Visit the iTunes Store to download this free application (key in search box: BIZ CASH)

Merchant Cash Advance – It’s in the Way that You Use It

noreply@blogger.com (The AdvanceMe Team) — Fri, 11 Dec 2009 20:55:00 +0000

In November, the Green Sheet, an important publication serving the payments industry, wrote an interesting article entitled “The Squeeze in Merchant Cash Advance.”

The focus of the article is how the Merchant Cash Advance (MCA) industry has seen changes in the past few years. (Note: an MCA is sometimes called a Business Cash Advance)

While there are many interesting points addressed in by the article, perhaps the most pertinent to businesses considering an MCA is the idea that how an MCA is used is becoming increasingly important to providers evaluating the applications.

Our own Chief Marketing Officer, Mark Lorimer, is quoted:

“Lorimer said AdvanceMe has seen a shifting mentality among merchants, likely springing from the economic downturn. Before most [Merchant Cash A]dvance recipients were looking to simply expand their businesses by increasing existing inventory, opening new locations and building on current ones, but now the money tends to be used for a more strategic brand of repositioning.
‘It may be a retail store moving from high-end clothes to more accessories, or a high-end automotive place maybe using it to stock up inventory that's not quite so expensive,’ Lorimer said. ‘Two or three years ago people were using the money a lot more for opening new locations and expanding and buying out a partner. We're seeing a lot more merchants now using the money to refine their concept or change slightly to reflect what they're seeing in their local marketplace.’"

In this blog, we have highlighted many times that how you use an MCA is crucially important. There are definitely going to be good and bad uses of this working capital, so we suggest that you learn all you can to ensure you continue making the best possible decisions for your business.

Curious as to the difference between a “good” and “bad” use of this product?

Refer to these previous posts for clarification: Merchant Cash Advances for Handling Remodeling Costs, Buying out a Partner with a Merchant Cash Advance, Using a Merchant Cash Advance to Fuel Growth, Use a Merchant Cash Advance for Trade Show Participation, Get a Merchant Cash Advance for Training, Using a Merchant Cash Advance to Prepare for the Holidays .

We also covered this topic very specifically here: Comparing "Good" and "Bad" Uses of a Merchant Cash Advance.

Comparing “Good” and “Bad” Uses of a Merchant Cash Advance

noreply@blogger.com (The AdvanceMe Team) — Fri, 04 Dec 2009 16:10:00 +0000

The ability to compare and contrast “good” and “bad” uses of a Merchant Cash Advance (sometimes called a Business Cash Advance) is an added benefit of our recent White Paper entitled: Merchant Cash Advance: Not for Every Business. Is it Right for Yours? If you have not yet had the chance to read this Merchant Cash Advance White Paper, we encourage you to do so.

Better Decisions = Better Business
As a business owner, you do everything possible to ensure the longevity and success of your business. If you are answering a working capital need for your business, one solution worth considering is raising capital with a Merchant Cash Advance (MCA).

Depending on the circumstances, this could be a smart choice for your business. However, depending on the circumstances, this could also be the wrong choice for your business.

To ensure that you continue making the best choices for your business’ strength and longevity, you’ll want to know the difference between “good” and “bad” uses of an MCA. While these points are made clearly on pages 4 and 5 of the White Paper, we will use this post to dig a little deeper.

Evaluate and Compare
An MCA is not going to be the best answer for every situation, but it is going to be a great answer in many situations. One way to determine on which side of the fence your situation falls is to do a careful evaluation of the situation, and measure each potential solution against the same set of criteria.

In many instances, some of the criteria evaluated to determine if an MCA makes a good fit or not would include:

The business’ specific working capital need(s)
Available assets to secure a solution (collateral, etc.)
How fast the money is needed
The time required by the business to complete the obligation
The cost (in dollars) of the solution
The cost (in effort) of the solution

While these are not all of the points your business should consider, they do illustrate that you can use a simple method of initial evaluation to start to “rule out” or include different working capital solutions among the options for your business.

Good Uses of a Merchant Cash Advance
The White Paper states: “…business owners must make sure that an MCA is being used for the right purpose and under the correct conditions.”

The document goes on to identify the following purposes and conditions as good ones for MCA consideration:

To take advantage of an unexpected opportunity that can make the business money at a favorable return on investment (ROI).
To manage fast growth.
To avoid the “negatives” of other forms of capital which may outweigh the relative costs of an MCA.
To cover an unforeseen event that could severely impact the business if it is not dealt with immediately.

Bad Uses of a Merchant Cash Advance
The White Paper also identifies certain uses of an MCA as “bad,” based primarily on an inability to prove an ROI. If your intentions for using the proceeds of a Merchant Cash Advance are among any of the following examples, you should very carefully consider your options:

Setting up a “rainy day” fund.
Making a purchase or investment for which you can’t project a favorable ROI.
Taking money out of the business to support a personal lifestyle that is unwarranted given the health of the business.
Purchasing something without investigating other alternative sources of capital first.
Using the money to “float” an otherwise sinking enterprise.

(For more detail and some examples of these uses, please refer to the Merchant Cash Advance White Paper).

Bringing it All Together
The White Paper makes one point about raising business capital very clear: “Return on Investment, or ‘ROI,’ is a concept every business manager should apply to every investment they make. Whether it’s new inventory, a new location, a new employee, or a new sign or menu, the business manager must begin with a clear picture of how much the action will cost, and how much they expect to earn because of that action.”

You can see how this idea works through the examples of both the “good” and the “bad” uses of an MCA. If you have a project that shows a very positive potential ROI, chances are much greater that an MCA is worth evaluating as a viable option.

The White Paper offers this guidance:
“No business owner should seek new capital without careful consideration and education. At a minimum, the business owner must (i) investigate all available alternatives and decide which form of capital suits their unique business best; (ii) develop a clear picture of the business’ cash flows to ensure the business can comfortably comply with the agreements associated with the new capital; and (iii) prepare and plan to maximize the benefits the new capital will bring to the business.”

As with any important business decision, you should always refer to trusted advisors, legal counsel, and industry experts before making a commitment.

What Do You Think? Has education and research played an important role in how you make most business decisions?

Is Merchant Cash Advance the Best Way to Raise Cash for Your Business?

noreply@blogger.com (The AdvanceMe Team) — Thu, 03 Dec 2009 16:04:00 +0000

Answering this question is the main purpose of our recent White Paper entitled: Merchant Cash Advance: Not for Every Business. Is it Right for Yours? If you have not yet had the chance to read this White Paper, we encourage you to do so.

Different Options for Raising Business Cash
The White Paper identifies three broad areas of capital raising available to most businesses: equity financing, borrowing or leasing, and asset sales. On pages 3 and 4 of the White Paper, detail is offered to explain how each different type of cash-raising effort generally works.

The first step in making better business decisions is to arm yourself with knowledge. You’ll want to clearly understand the nuts-and-bolts of all your potential solutions.

Conduct research to learn how each option works, who provides them, what makes qualification possible, and what commitments are required of you or your business in connection with each option. Understand the potential long-term and short-term effects of each option. Knowing how they work will help you to make the best decision on when they might work best for your business.

You will always be able to make better decisions by increasing your detailed knowledge of the potential solutions to a range of situations your business might face.

Steps Toward Making Better Decisions on Raising Cash for your Business
Ultimately, knowing whether or not an MCA is the right choice for your business’ specific situation depends on comparing an MCA to your other available options and measuring (or estimating) the impact of the features of each option on your business. The following steps should help you in achieving this goal:

Research how equity financing, borrowing and leasing, and asset sales could pertain to different situations faced in your business or industry.

Build a firm understanding of how each different capital-raising effort works, who provides each one, and what it takes to qualify. Learn more about the potential short and long-term effects of each solution.

Talk to colleagues and advisors and refer to trusted industry experts to gain additional insight BEFORE making any important decisions.

You would also want to know very concretely what a “good” use of a Merchant Cash Advance would be when compared to a “bad” use of an MCA. Our next post will continue extracting details from our latest Merchant Cash Advance White Paper, and look a little deeper into these clarifying distinctions.

What do you think? Do you tend to research and understand the far-reaching effects for every potential option when facing a business need?

Merchant Cash Advance White Paper

noreply@blogger.com (The AdvanceMe Team) — Wed, 02 Dec 2009 15:58:00 +0000

We recently released a new white paper entitled Merchant Cash Advance: Not for Every Business. Is it Right for Yours? If you did not yet get a chance to read it, you can do so here, or by clicking the linked title above.

This White Paper is the third in a series addressing current issues impacting the Merchant Cash Advance (MCA) industry. The focus of the new White Paper addresses helping business owners to make more informed decisions, specifically decisions regarding their business’ potential working capital options.

To quote from the press release:
“This White Paper urges business owners and their advisors to make “informed choices” of whether an MCA—or any working capital solution -- is the most appropriate option for their business. Through education, investigation, preparation and planning those informed choices become smart business decisions.”

Digging a Little Deeper
In the next few blogposts we publish, we intend to look at some of the specific points that are put forth in the White Paper and delve deeper into what it could mean to small business owners. The intent is to use these posts and the White Paper to help every business owner make better decisions when they are considering a Merchant Cash Advance.

Specifically, we will use the blog to address whether or not a Merchant Cash Advance is the best way to raise cash for your business and we will compare some of the criteria on what might be considered the “good” and “bad” uses of an MCA.

Our goals for these posts are that we want you to be able to look at specific scenarios facing your business and be able to understand where an MCA could make a smart decision, contrasted with the situations where it would not be as prudent.

As always, if there are any comments or points you’d like to make, we encourage you to do so.

What do you think? Which White Papers have you read that have helped you to make a better decision for your business?

Using a Merchant Cash Advance to Prepare for the Holidays

noreply@blogger.com (The AdvanceMe Team) — Fri, 23 Oct 2009 19:51:00 +0000

When autumn leaves first begin to add a bit of color to the landscape, many small business owners start to look forward to making the most of the upcoming holiday season. For many, using a Merchant Cash Advance is a smart way to take advantage of this time of year and make the most of the increased opportunity it brings.

Stock up on supplies. If you have a retail establishment, you can use a Merchant Cash Advance to stock-up on merchandise that you know will sell over the holidays. Pre-order items that have a history of high sales or expand into seasonal product lines. By using the efficiency and speed of a Merchant Cash Advance you can secure the inventory that enables more sales, perhaps taking advantage of discounts offered when buying early or in bulk.

Accommodate more people. If you have a retail business, you might need to accommodate more traffic by adding some counter space or additional product displays. In a restaurant, you might invest in additional tables, or purchase the supplies needed to accommodate (or cater) private Holiday parties. By planning ahead and getting a Merchant Cash Advance now, you can be ready when people start looking to your place of business as the place to be during the Holidays.

Get the extra help needed. Additional traffic and more opportunity might mean you need to hire some temporary, seasonal help to assist your staff. A Merchant Cash Advance can give you the money you need to cover this cost so that every customer receives the best possible service.

Advertise your strengths. It is no surprise that the Holidays can create lots of potential customers for you – but these people will need to be aware of who you are, where your business is located and why they should visit your business. By using a Merchant Cash Advance to handle advertising costs, you can market your goods and services to reach the best possible clientele.

Make an Action Plan
Proper planning is what will allow your business to capitalize on the holiday traffic. As we mentioned in our recent Merchant Cash Advance White Paper, investing in opportunity is one of the best possible uses of a Merchant Cash Advance. As so clearly illustrated by the bullet points above, the holidays traditionally offer many lucrative opportunities for businesses to explore.

The best way to take advantage of the potential holiday traffic is to carefully plot out your strategy. Once you know specifically what you’d like to do, you must:

Determine the budget (time and money) needed to make it happen
Calculate your assumed return on investment (ROI) to make sure this effort will be profitable
Identify your potential sources for working capital and contact specific providers for more details
Create a schedule to make sure everything happens smoothly, and on time

With a little forethought and some smart planning, your business can truly make the most of the upcoming holiday season. And for some businesses under the right set of circumstances, a Merchant Cash Advance is a valuable option for seeing the working capital needed to capitalize on seasonal opportunities.

For more information, refer to these articles:
http://www.morebusiness.com/holiday-advertising-tools

http://www.allbusiness.com/retail-trade/apparel-accessory-stores-womens-specialty/4251284-1.html

http://www.inc.com/news/briefs/200708/0807ports.html

For more information about using a Merchant Cash Advance for making the most of the upcoming holiday season, visit AdvanceMe.com

What do you think? How will your business prepare for taking advantage of this year’s holiday season?