Financial Strength

Financial Strength

Many companies qualify for financing and do not even realize it. They think because they were turned down that funds are gone and they have no hope except; to increase sales to grow their company.

That is simply not true being turn down does not mean your company does not qualify for financing it means your financials are not strong enough to support the debt.

There is a big difference between qualifying for financing and having the financial strength to support the debt. For instance: let’s just say that you credit score was poor sub 600 does that mean that your company does not qualify for financing no it means that you as a guarantor are not strong enough to support the debt with your credit, getting a transaction approved may be as simple as 3 things.

1. Find a stronger credit score to back the note
2. Put up stronger collateral
3. Place a larger than average security deposit.

If you have any questions as to how to strengthen a transaction it may be wise to call (636) 233-2782

iNBEE Financial Helps Unlock Your Recievables

One great way to fund your company is to factor your accounts receivable. Factoring is an awesome tool because you don’t tie up working capital lines of credit and you don't have to put your house up for collateral.

Factoring basically works like this... your company sends your invoices to a factor. They verify the work has been finished, delivered, or installed and they send you 60-80% of the money you have due to your company. The nice thing is the factor funds very fast and your company no longer is responsible for the collections of those accounts. This give you time and money to go after bigger and better accounts and it proves to the bigger companies that you have the financial backing to support the larger accounts.


Are you waiting 30, 60, 90, 120 days to receive money from your customers let us get you that capital so you can use it today

iNBEE Financial
Visit us and Click on the ling Accounts Receivable Funding
www.inbeefinancial.com

10 ways to improve your credit

1. Cut expenses
2. Pay your bills on time
3. Stick to a strict budget that allows you to begin to save money
4. Pay credit cards down below 30% of available limit
5. Don’t open up a lot of different lines of credit
6. Don’t miss a credit card payment, loan payment, or doctor bill
7. Pay up any judgments against you
8. Don’t have 30 different people pull your credit in the last 30 days
9. Live within your means
10. Increase your revenues

One great way to improve your credit is to find more affordable ways to purchase equipment for your business you can check out our current inventory at http://www.inbeefinancial.com/currentinventory.html and you will find a list of more affordable equipment for your construction company.

10 things funders need to close your loan!

1. Your application
2. Your driver license
3. 2 Years personal tax returns
4. 2 Years business tax returns
5. 2 Years business financials
6. Copy of insurance
7. A business plan
8. Copy of your business licenses and federal certificates
9. Bank account information
10. All fees and down payments

AH MY BUSINESS IS OUT OF CONTROL!

Developing a plan is one of the most important aspects of building your business. In your plan you should include everything about your company. 9 out of 10 new businesses fail within the first year and many of the business that makes it past the first year never grow. It is my personal commitment to help anyone who reads this site once a month grow their business.

Many people have problems with the management of their business. Oftentimes my clients will say to me, “Nathan, these girls just won’t listen to me. They seem to do what ever they want.” Management is even a foreign word to some people. All a manager is to do is oversee that the policies that you put into place are followed. Policies? What Policies?

You mean your company does not have policies and procedures? Policies and procedures ensure the future success of your business. Do you ever have your stylists come in without the proper work attire? This is probably because you do not have a dress code policy in you Policy and Procedures Handbook.

This is your business and you should make sure it is run under your control. Any company with out policies is out of control and is headed the wrong direction.

Set your goal to write your rough draft of all the policies, rules, and procedures for your salon. Next review them with someone you trust. Talk about them. Edit them; lastly, hand out a copy to all your employees. Have them sign it and give it back. And let them know that if they don’t comply, their will be disciplinary actions taken. See how quickly your business changes from un-profitable to profitable.

It has been recently brought to my attention that some of the salons today are rental salons, and they tend to enforce policies even less. Rental! Does that mean that you don’t own a business? You don’t have to do anything as a business owner when you rent stations to your stylists right? Wrong! It is even more important to write out everything in their rental agreements and make the handbook part of their agreement.

By developing your business you will have more time, and money to spend with your family.

8 places to update your business.
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