Question about business

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?

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Business Local Listings

Advanced Merchant Services
Contact Name: Roger Inman
P.O. Box 1475 Safety Harbor, FL 34691
Bus: 727-642-3606
Bus Fax: 877-413-6067
E-mail: rinman3@tampabay.rr.com
Website: www.bankcardprocess.com

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Question about business

Bad credit is one of the main reasons for bank loan denial. A credit score lower than 580 will most likely ruin your chances for a business loan. Multiple credit checks also lessens your chances for approval. And of course, a recent file for bankruptcy will ensure denial on your request.

Fortunately, there is no reason for despair if you belong to this group of people. There are now available alternatives for getting a small business loan, regardless of your bad credit. It is important, however, that you understand your circumstances before jumping into these alternative means for a business loan.

You can opt for an unsecured personal loan in such cases. But before you do, consider these factors first. One, how much do you need as a business loan? Factor in the numbers and come to a close estimate of how much you really need. Two, how much can pay each month. You have to note that personal business loans often have higher interest rates per month and if you’re not careful, you might become more in debt than you actually were, before the business loan. And three, will you be making minimum payments? Avoid making minimum payments because it actually costs more in the long run.

A business cash advance is also one way of securing the money you need. A small business loan through cash advance is  relatively an easy process to go through as compared to borrowing money from a bank. Most small business, even if they do have good credit, have often little asset and property. This is what makes business cash advances a good alternative for small entrepreneurs in need of immediate money. The only important thing your business should have is access to credit card services (i.e. you accept credit cards for transactions). You just need to have your business’ credit scores established. The best way to do this is to separate your personal credit from your business credit. It is recommended that you control most, if not all, of your business credit needs from only one of two credit card service providers so you have better chances at getting approved quickly. Lastly, your business will need to have gained $2,500 to $4,000 as minimum credit card sales per month.

Most cash advance providers base the amount of business loans by average monthly credit card sales, and of course, your actual need for capital. A business cash advance as a business loan is recommendable because the processing time for approval of your business loan can be as short as 3 days. Since newly opened small  businesses encounter a lot of time constraints with suppliers and clients, easy and immediate access to additional funding is always a plus. Furthermore, cash advance as a small business loan now comes easy with the help of the internet. You can apply for a business cash advance online and have it approved the next day. The business loan will be directly deposited into your account once it is approved.

Use your small business loan to purchase new equipment, marketing, pay debt or taxes, or pay the payroll. Banks and big lending companies are now not the only way of getting a small business loan for your immediate business needs. Fast, online cash advance is now the new means of making your business grow and compete in whatever market you are thriving on.

About Author

Business Local Listings

Advanced Merchant Services
Contact Name: Roger Inman
P.O. Box 1475 Safety Harbor, FL 34691
Bus: 727-642-3606
Bus Fax: 877-413-6067
E-mail: rinman3@tampabay.rr.com
Website: www.bankcardprocess.com

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Question about business

Information Technology lies at the very heart of today’s organisations and many companies are now so dependent on their networks that they take them for granted. In today’s 24/7 digital economy, just imagine the business implications of critical data being lost, internet and email access being unavailable or your internal network going down.

The impact of the unexpected on your business, whether in the form of malicious damage such as hacking or some kind of natural disaster, can be devastating in the networked world. Take for example the 2007 flash floods across the UK. Following the wettest May to July on record, approximately 7,100 businesses were flooded and the resulting damage cost an estimated £3 billion1. However, this figure fails to take into account the cost of lost business during that period, when some companies were unable to operate a normal (if any) service, or the damage to reputation that the inability to communicate caused. No-one can predict the future, but by carefully planning in advance you can ensure that your business is in the best possible position, if and when disruption occurs.

To meet resiliency requirements for coping with both unexpected events and increasing volumes of data, today’s businesses require more than Next Generation Network capability alone. They need a combination of robust network capability and a next generation service mindset from their telecoms provider. When it comes to business resiliency, it’s not simply a case of ‘one size fits all’. ntl:Telewest Business closely collaborates with its customers and tailors its services to meet their needs. The next generation of business resiliency is here.

What level of resilience is needed?

Different industries have unique requirements for resilience. In the banking industry, for example, access to accurate, real-time buying and selling data is critical and business continuity and resiliency are considered so important that they are subject to specific regulations such as Basel II. However, for the majority of businesses, the rules and regulations are not so strict, and yet the implications of a network collapse without sufficient backup systems can be equally severe. This is particularly true when you consider that, according to the London Chamber of Commerce and Industry, 80 per cent of small to medium sized businesses go out of business within 18 months of experiencing a major network problem and 90 per cent of businesses that lose data in a disaster are forced to shut within two years.

The indisputable fact is that all business premises, no matter what the organisation’s size or industry, face the risk of disasters and they need to bring certainty to how they store and use their information. Firms need to be able to move their data around freely and ensure that it is 100 per cent backed up from every site, minimising the exposure to risk at any one site and making sure that the most important data is prioritised.

What types of network meet the requirement?

Network capability and flexibility provide the technology platform for next generation telecoms providers to roll out a resilient service. As well as being able to withstand unexpected events, today’s networks need to be able to cope with the everincreasing amounts of information being transported by today’s businesses. Their needs have extended from just email and web browsing to encompass multimedia applications, image-driven, user-generated content and video. In order to cope with these burgeoning volumes of data and the swift pace of operational change, networks need to be both extremely resilient and scalable. Rapidly growing workforces require constant, uninterrupted access to business resources and only a Next Generation Network can provide the flexibility and resilience required.

ntl:Telewest Business’ £13 billion Next Generation Network was built specifically with the demands of the digital age in mind and, based on fibre-optic technology, it is highly resilient. The Next Generation Network is capable of delivering the next generation IP and Ethernet services required by today’s fast-moving business and, as bandwidth can be increased quickly and painlessly in line with demand, scalability issues are overcome. In order to significantly reduce the volume of faults on their networks, today’s telcos also need to engage far earlier in proactive network management. By constantly monitoring its network, ntl:Telewest Business ensures that potential issues can be identified before they develop into problems. As a result, both the network’s performance and the user’s experience are significantly improved.

How can every eventuality be covered?

Maintaining business continuity is not as simple as deploying two separate links to your business sites, there are a number of considerations that have to be taken into account. How far a customer wants to go in assuring resilience depends on the importance of their information assets and their budget, but there are four key business continuity measures that can be taken into consideration.

As there are two UK-wide access networks, ntl:Telewest Business’ and BT’s, it stands to reason that if information is your organisation’s lifeblood you should not trust all of your services to just one network. Having an alternative access network in place ensures that critical applications continue to run even if one provider has a major outage. An alternative transmission path can also handle unexpected peaks in traffic and provide protection against denial of service attacks, which are designed to swamp networks with traffic and cause them to buckle.

The second business continuity measure is eliminating a single point of failure for the availability of voice and data services. Rather than relying on a single network provider to deliver connectivity between a site and the rest of the private network or the internet, businesses can run multiple links to their sites, guaranteeing up-time should one of the lines be inadvertently damaged and rendered unusable. In the event of network connectivity being destroyed over one connection, services can seamlessly divert to the backup connection, maintaining continuous data transfer and call availability.

One of the most basic disaster recovery tools that businesses should consider is spreading their risks across the network. By creating a mirrored system in which all information and applications are regularly and automatically backed up at different points on the network, businesses can ensure that information is protected in the event that one part of the network experiences an outage.

Multiple Ethernet connections into a Virtual Private Network (VPN) with any-to-any connectivity enable organisations to decentralise their IT across multiple sites and replicate their business-critical data. If a problem does occur, whether it is a natural disaster or simply a power failure, employees should be able to work from home and log onto their VPN remotely, safe in the knowledge that the network is secure and work can continue as usual, albeit off-site. This any-to-any connectivity overcomes the needs for backup circuits.

Finally, in the event of one of an organisation’s main circuits going down, forcing all data to run over the other and increasing the risk of a network bottleneck, the prioritisation of critical data is essential. The application of up to eight classes of service over the ntl:Telewest Business network, with predefined Quality of Service (QoS) parameters, will also ensure that business critical data is delivered in advance of lower priority traffic such as internet data. This way organisations can ensure their business critical applications continue to perform at optimum levels, even in adverse conditions.

With such an array of business continuity options available, organisations require a telco provider that’s prepared to sit down and discuss the most appropriate solution for their unique needs, risks and budget. ntl:Telewest Business collaborates closely with all sizes of business, not just its largest customers with big communication budgets. Consultative and technologically-savvy local service teams, both at the presales and project management stages, work hand-in-glove with the customer to ensure they receive the most appropriate solutions for their business.

How can businesses design and provision truly resilient networks?

True business resilience can only be attained when network capability is fused with a high level of consultative input at the stage of designing new network infrastructures. Until now, the legacy telco practice has been to keep customers at arm’s length from the services they use and act as merely a circuit provider, rather than responding to customers’ requirements. The next generation of telecoms providers need to invest in their service delivery, and not solely their network, ensuring that their customers feel connected to their telco teams as well as their network.

As a next generation telecoms provider, ntl:Telewest Business is committed to sitting down with organisations, listening to and understanding their individual requirements. This way it can help the customer implement measures appropriate to the risk associated with the type of traffic on its network, with a design that reflects the confines of the budget.

A customer-centric mindset and ‘can do’ attitude ensures that ntl:Telewest Business collaborates with its customers from the start, helping to plan, design, and implement their networks. But it doesn’t stop there, many of the same teams remain all the way through integration and while the network is running. No one can predict the future, but by working with a telecoms provider that has such a Next Generation Network and a customer-centric mindset, you’ll be better prepared for any eventuality.

About Author

ntl:Telewest Business

ntl:Telewest Business boasts more than 15 years’ experience in delivering communication solutions for private and public sector organisations, and has invested more than £13billion in the largest alternative Next Generation Network in the UK. For more info, visit http://www.ntltelewestbusiness.co.uk/

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