Archive for the ‘Business’ category

A Faster Way to Get Small Business Loans

October 24th, 2009
business7 A Faster Way to Get Small Business Loans



It is not easy for small businesses to get small business loans. Banks and other lenders require them to go through strict and complicated financial procedures with stringent requirements for qualification. After everything, credit approval is not even guaranteed.

Even the financing for loans supported by the Small Business Administration (SBA) cannot meet the needs of the majority of small businesses. Although the amount of credit available for small businesses has reportedly been increased by 25% since March this year, it is not that easy to avail of the said small business loans.

Small businesses seeking small business loans should know how to prepare the right kind of business plans that banks are looking for. To justify the loan, they should be able to show the banks in detail how they intend to use the money in business and how viable their plan is. Experts say lenders have specific points which they scrutinize applications for and applicants should know these points and tailor their submitted business plans accordingly.

It is also said that loan applicants should first establish a strong relationship with the lending bank in order to increase the possibility of having a loan approved. Banks supposedly give more small business loans to businesses they have already known and trusted long term. Since small businesses are usually new businesses, this is quite difficult to do and it cannot be done in a hurry. How can a new small business with financial needs establish a good long term relationship with a bank in time to meet its current needs?

Another requirement of lending institutions from small businesses applying for small business loans is a good credit history score.  A small business should first be deemed credit worthy by the bank before it can even be considered for loan approval. Again, small businesses that are stll young are at an immediate disadvantage here. How can they establish credit worthiness in time?

The US Congress has also placed Congressional restrictions on eligibility for the Small Business Administration loans. Small businesses first have to prove that they are at least two years old and are both struggling and viable at the same time. They should present proof that they have had a positive cash flow in one of those previous two years in business. They should, however, be currently struggling with “immediate financial hardship” with a decrease in income that should not be less than 20 percent. At the same time, they should submit their projections for cash flow for the next two years, proving that they will be able to meet loan payments.

A faster way to get small business loans would be through credit card services.

Any small business should have credit card services. Credit card services enable a company to accept customer payments for goods and services via credit cards or debit cards, whether over the counter in brick and mortar settings, through the phone or online. Credit card services provide the hardware and software for this.

Being able to accept payments through credit cards or debit cards can greatly enhance a small business’ income earning potentials. In addition to that, credit card services can provide the equivalent of small business loans with no need for any collateral. The amount of the small business loans are computed based on the average monthly income of the small business from credit card payments. The small business loans are then amortized through automatic monthly deductions of a certain percentage from the small business’ future credit card revenue. This means small businesses can almost automatically qualify for small business loans through credit card services, and will surely be able to pay such small business loans. Is there a faster way than this?


What Commercial Security Systems Can Do to Protect Your Retail Business in Tampa, Clearwater and St

October 22nd, 2009
business48 What Commercial Security Systems Can Do to Protect Your Retail Business in Tampa, Clearwater and St



Studies show that businesses lose as much as $70 million per day to a combination of internal and external theft. The retail industry is extremely vulnerable to shoplifting and employee theft. Some thirty to forty percent of inventory losses are attributed to employee theft, and more is lost to employee fraud. Commercial security systems offer various services to curb such losses among retail businesses in Tampa, Clearwater and St. Petersburg.

How exactly do these commercial security systems protect your retail business in Tampa, Clearwater and St. Petersburg?

Many retail stores use radio frequency identification (RFID) tags on their merchandise. If any of such merchandise is brought out of the store unpaid, it will trigger alarms and alert the guards. This is one of the most effective deterrents against shoplifters.

Retailers should train their personnel well, though, to ensure that RFID tags are always removed before merchandise that has been paid for is wrapped at the counter. If a paying customer triggers the alarm while going out the shop because of employee negligence, this will create a negative backlash on the store. The customer will be humiliated and will, understandably, be very furious. Other customers in the shop will surely sympathize with the victim. In extreme cases this could even lead to a boycott. Security should not be implemented at the expense of customer service and relationships.

For insider theft, access control is provided to identify and record everyone entering and leaving the company premises at any time. This is used for employee entrances and exits. Access control prevents employees from entering the premises beyond their work hours. It also prevents other unauthorized entry. If any theft occurs overnight, for example, records from access control will show who went in and out of the premises between certain time periods.

Digital video surveillance will provide even more protection. With multiple digital surveillance cameras positioned strategically throughout the store and backend areas, you can have full 24 hour coverage and monitoring. All footages are recorded and archived. You can also monitor all cameras any time from anywhere in the world through a laptop with an internet connection.

All footages from digital video surveillance should be saved even if there seems to be nothing interesting going on. Seemingly routine scenarios may later prove to be valuable in establishing certain facts or patterns. Video documentation is extremely valuable.

Surveillance cameras focused on points of sale will catch instances of employee cash register theft and fraud. Surveillance cameras throughout the store will catch shoplifters. In the backroom, round the clock digital video surveillance will record inventory theft and pilferage. Digital video surveillance will positively identify the persons involved in the crime, whether employees or outsiders.

Sometimes the mere knowledge of the presence of digital video surveillance in a store and its backend areas is in itself enough of a deterrent for criminals.

All the security features mentioned are designed to work together in a comprehensive structure that is also linked to a 24 hour emergency response system. It can also be made to integrate with all other systems used in the store, such as temperature control, smoke alarms and fire alarms. This further strengthens the protection for your business.

There are so many commercial security systems to choose from. In deciding which company to hire, check for references among other retail establishments and businesses in Tampa, Clearwater and St. Petersburg. Establishments with high security needs like the 24-hour Anytime Fitness franchise, for example, would hire only the best commercial security system available. It might be a good idea to go with what has already been proven to be reliable and cost effective.