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We love to have a solid finance back up at the sometimes it turns a headache to manage those finance affairs. I thank people who come forward to help us with online finance management solutions! Are you one of such helpful men? If so, my article is going to tell you how choosing one of the best finance website templates to give your financial business a boom!
There are two major factors when you want to develop a website for your online finance business. One is choosing a template shop and then finding one of the best finance web templates from the templates available in a template shop. There are some matters which help to find a good template shop and select one of the best finance website templates. I am here pointing you some features of finance web templates and how to know a template shop as best template shop.
- A cool design in color application is must for finance website templates. Money matters are serious affairs so simple yet elegant color increases soothing effect in the visitors’ mind.
- The first sight falls on the header of a site so it has to be attractive. The header portion of the finance website templates needs to keep provision for showing off the purpose of the site. It is like grabbing the opportunity at first sight.
- A visitor will come to get your services. In the finance web templates the focus will have to be always on the services. So the service portion has to get maximized notice.
- It is found that visitors want some live news. In the finance web templates there should be always a panel about keeping live report about finance markets. It will help to compare and understand your finance solutions against present market.
- Anytime or every time a visitor lands on a site, wants to know what is special! Finance website templates need to keep a space to show the special finance services from the service providers.
- With the space for other related and valuable finance content keep a block for finance success stories. In the finance web templates the place for successful finance related stories increases the chances for investment.
- People like to keep them updated. So a direct like for accepting newsletter services has some importance. In the finance website templates there may be a place for subscribing newsletters. This part will let the service provider chance to remain in touch with the visitors who subscribe to the service.
- Last but not the least is quick solution and quick support panel. In the finance web templates there has to be a panel for quick contact as it lets visitors chance to get finance solution fast. People are coming to get solution let them find support fast.
Your worst business nightmare just occurred. You got the order/contract! Now what?!
Purchase order financing is a great tool for firms that have unusual purchase order and contract sales financing needs but are potentially unable to access traditional financing via banks or their own capital resources within their firm. How does trade finance P O financing work, does your firm qualify, what are the costs, and how does it work? Great questions, now let’s explore some answers!
Typically Canadian firms looking for this type of financing are distributors, manufacturers, or perhaps wholesalers. A variety of industries in Canada have access to this type of financing, but those certainly tend to be the typical firms needing assistance.
Your need for purchase order financing arises out of what we call the classic working capital gap. What do we mean by that? It’s a case of your suppliers requiring payment either up front or within 30 days, with your firm unable to generate those funds for payment and therefore unable to fill large purchase order and contracts in your favor. Your supplier is asking your for payment in advance or 30 days, and you wont receive payment for at least 60-90 days, perhaps more depending on your build cycle, etc.
Naturally you don’t want to turn down orders or lose competitive market position.
The obvious solution for low cost large amounts of funds are Canadian chartered banks, but our observation is that many firms simply cant satisfy the banks requirements for this type of financing to occur. If your firm is growing, profitable, has a clean balance sheet and strong historical cash flows and history you of course have a solid chance of meeting bank requirements, however that typically is not the case, certainly in the amount of clients we talk to who are looking for alternatives to their growth challenge!
Your worst business nightmare has just come true – you got the order and contract! Now what though? How can Canadian business survive financing adversity when your firm is unable to traditionally finance large new orders and ongoing growth?
The answer is P O factoring and the ability to access inventory financing lenders when you need them! Let’s look at real world examples of how our clients achieve business financing success, getting the type of financing need to acquire new orders and the products to fulfill them.
Here’s your best solution – call your banker and let him know you need immediate bulge financing that quadruples your current financing requirements, because you have to satisfy new large orders. Ok… we’ll give you time to pick yourself up off the chair and stop laughing.
Seriously though…we all know that the majority of small and medium sized corporations in Canada can’t access the business credit they need to solve the dilemma of acquiring and financing inventory to fulfill customer demand.
So is all lost – definitely not. You can access purchase order financing through independent finance firms in Canada – you just need to get some assistance in navigating the minefield of whom, how, where, and when.
Large new orders challenge your ability to satisfy them based on how your company is financed. That’s why P O factoring is a probably solution. It’s a transaction solution that can be one time or ongoing, allowing you to finance purchase orders for large or sudden sales opportunities. Funds are used to finance the cost of buying or manufacturing inventory until you can generate product and invoice your clients.
Are inventory financing lenders the perfect solution for every firm. No financing ever is, but more often than not it will get you the cash flow and working capital you need.
It’s time. We’re talking about purchase order finance in Canada, how P O finance works, and how financing inventory and contracts under those purchase orders really works in Canada. And yes, as we said, its time… to get creative with your financing challenges, and we’ll demonstrate how.
And as a starter, being second never really counts, so Canadian business needs to be aware that your competitors are utilizing creative financing and inventory options for the growth and sales and profits, so why shouldn’t your firm?
Canadian business owners and financial managers know that you can have all the new orders and contracts in the world, but if you can’t finance them properly then you’re generally fighting a losing battle to your competitors.
The reason purchase order financing is rising in popularity generally stems from the fact that traditional financing via Canadian banks for inventory and purchase orders is exceptionally, in our opinion, difficult to finance. Where the banks say no is where purchase order financing begins!
It’s important for us to clarify to clients that P O finance is a general concept that might in fact include the financing of the order or contract, the inventory that might be required to fulfill the contract, and the receivable that is generated out of that sale. So it’s clearly an all encompassing strategy.
The additional beauty of P O finance is simply that it gets creative, unlike many traditional types of financing that are routine and formulaic.
One avenue is equipment financing/leasing. Equipment lessors help small and medium size businesses obtain equipment financing and equipment leasing when it is not available to them through their local community bank.
The goal for a distributor of wholesale produce is to find a leasing company that can help with all of their financing needs. Some financiers look at companies with good credit while some look at companies with bad credit. Some financiers look strictly at companies with very high revenue (10 million or more). Other financiers focus on small ticket transaction with equipment costs below $100,000.
Financiers can finance equipment costing as low as 1000.00 and up to 1 million. Businesses should look for competitive lease rates and shop for equipment lines of credit, sale-leasebacks & credit application programs. Take the opportunity to get a lease quote the next time you’re in the market.
Merchant Cash Advance
It is not very typical of wholesale distributors of produce to accept debit or credit from their merchants even though it is an option. However, their merchants need money to buy the produce. Merchants can do merchant cash advances to buy your produce, which will increase your sales.
Factoring/Accounts Receivable Financing & Purchase Order Financing
One thing is certain when it comes to factoring or purchase order financing for wholesale distributors of produce: The simpler the transaction is the better because PACA comes into play. Each individual deal is looked at on a case-by-case basis.
Sources of business finance can be studied under the following heads:
(1) Short Term Finance:
Short-term finance is needed to fulfill the current needs of business. The current needs may include payment of taxes, salaries or wages, repair expenses, payment to creditor etc. The need for short term finance arises because sales revenues and purchase payments are not perfectly same at all the time. Sometimes sales can be low as compared to purchases. Further sales may be on credit while purchases are on cash. So short term finance is needed to match these disequilibrium.
Sources of short term finance are as follows:
(i) Bank Overdraft: Bank overdraft is very widely used source of business finance. Under this client can draw certain sum of money over and above his original account balance. Thus it is easier for the businessman to meet short term unexpected expenses.
(ii) Bill Discounting: Bills of exchange can be discounted at the banks. This provides cash to the holder of the bill which can be used to finance immediate needs.
(iii) Advances from Customers: Advances are primarily demanded and received for the confirmation of orders However, these are also used as source of financing the operations necessary to execute the job order.
(iv) Installment Purchases: Purchasing on installment gives more time to make payments. The deferred payments are used as a source of financing small expenses which are to be paid immediately.
(v) Bill of Lading: Bill of lading and other export and import documents are used as a guarantee to take loan from banks and that loan amount can be used as finance for a short time period.
(vi) Financial Institutions: Different financial institutions also help businessmen to get out of financial difficulties by providing short-term loans. Certain co-operative societies can arrange short term financial assistance for businessmen.
(vii) Trade Credit: It is the usual practice of the businessmen to buy raw material, store and spares on credit. Such transactions result in increasing accounts payable of the business which are to be paid after a certain time period. Goods are sold on cash and payment is made after 30, 60, or 90 days. This allows some freedom to businessmen in meeting financial difficulties.
Buying your first home can be such an intimidating task. At first, putting together the money and saving up for that down payment may seem like the hardest thing to do. However, we also understand that the having a home to call your own is already a reward in itself.
Keep in mind that you should be ready to commit to your goal. After all, that initial payment is no meager sum. This article will provide readers with some of the basic guidelines on how one can save enough to make that first down payment.
Opening a Savings Account
The first step is perhaps the most obvious one – opening a savings account. This is crucial as you will have to dedicate a separate account for the purpose of your savings. This will also help you better keep track of your progress.
This can be done online easily enough. However, we recommend that you do this through the same credit union or bank where you have a checking account. This will make fund transfers faster and more convenient.
Making A Budget Plan
A budget plan Is perhaps the most underappreciated financial tool out there. Its importance cannot be stressed enough. Your budget plan will essentially serve as the blueprint for your financial goals and will determine the timeframe in which you plan to achieve them.
Before making the actual budget plan, you will first need to get the full picture of your finances. The easiest way to do this by making a spreadsheet show your monthly gross income. From there, you will need to subtract your taxes, as well as your different expenses like rent and utilities.
Make sure that you have accounted for every expense. Getting an accurate picture of your finances is crucial. From there you will have to determine which costs can be lessened or altogether cut from your expenses. Readers should take note that this is not a one-time task. Take care to do this regularly so that you can periodically review your income flow and expenses.
In most cases, income and expenses are always near the same ballpark. If this is the case, then you will have to get creative. Either work in changing your spending habits in order to spend less, or find additional sources for saving. This may seem like hard work, and it is. However, all of it is necessary if you truly want to save enough for that down payment.
Maximizing Your Credit Score
Keeping track of your credit score is also another crucial element for making that down payment. It basically dictates your borrowing capability and also affects the rate in which you will have to pay back the loan. It is determined by your total outstanding debt and the timeliness of your payments.
Keep in mind that if you have a great credit score, then you might be able to negotiate a better mortgage deal with the lenders. It can even result in having a reduced down payment for the property.
The strategies highlighted in this article show a few of the things that you can do in order to make that down payment. Always keep your goals in mind and be an aggressive saver. Only by doing that can you acquire your dream home.
Everyone wants to save. It can be said that saving is perhaps one of the most common financial goals there is. This is understandable since everyone wants to plan for their future. Yet, in spite of its importance, most people are simply unable to do it.
This article provides readers with a quick break down of the things one needs to keep in mind if one is truly serious about putting away money for future use. Here are a few ways to save your way to success.
Getting in the Right Frame of Mind
Right from the start, you will need to get serious about how much you want to save. It will be easier to achieve your target if you put away the target amount first before you spend a single dime. This is contrary to what is commonly done by people wherein their savings constitute what is left over from their paychecks.
Tracking your Finance and Making a Budget Plan
Budgeting is an essential financial management tool. It can help you better control how you spend your money. Contrary to popular belief, making a budget plan does not need to entail a complicated process. However, before you can make your budget plan, you will need to first have a full grasp of your financial situation.
In order to do this, you can simply make two columns on a spreadsheet with one column listing down your income and the opposite column showing your expenses. This process will help you determine whether you are spending more than you are earning.
Once you have a grasp of your finances, you will be able to easily divide your monthly earnings and determine which expenses can be cut down.
Setting Financial Goals
The term ‘financial success’ can be quite vague especially if it is left undefined. That is why it is crucial for everyone to set financial goals. After all, you are not just saving for its own sake. By setting concrete goals, you will be able to determine whether you have succeeded or not.
These financial goals can be anything buying a new car, taking on new investments, or moving to your dream home. Part of smart financial planning is setting a time frame for which to achieve these goals. Just make sure that you plan realistically.