Guest Spotlight

Alternative Financing for your Business

By Jack Hasso of National Business Capital

Having access to money is imperative for a business to run successfully. Many business owners will face a time when they could use extra capital to make ends meet or take advantage of an opportunity. Unfortunately, the process of securing a bank loan is lengthy, which may mean a missed opportunity, and it can be difficult to get the loan approved. So what can a business owner do?

The answer may be found in non-traditional financing. The concept is new to some business owners, but for a majority of small and medium size businesses, both local and across the nation, it may be the only means to obtain financing.

Rates are typically higher with a non-traditional lender than they are with a bank. Before you get frustrated or rule out this option, consider the reason for the funding. Take the time to review the cost versus the project or opportunity. Will the funding allow you to take advantage of an opportunity to increase sales? By paying the higher rates and obtaining the alternative financing, will you improve your business or your Bottom Line? If you pass on the financing, and therefore miss the opportunity, how much money will you lose?

Alternative financing can be used for various reasons. It can be used to meet payroll, cover expenses, purchase/rent equipment, stock inventory, pay tax liens and more.

A bank denial does not have to hinder you from moving your business forward. Alternative financing provides many business owners the chance to keep their business running successfully and improve their Bottom Line.

Lines of Credit: Lessons from the Field

By: Barbara Libove, Nonprofit Finance Fund, This e-mail address is being protected from spambots. You need JavaScript enabled to view it

A line of credit (LOC) is a valuable resource for most nonprofits. It can serve as a lifeline that allows organizations to continue delivering vital services while awaiting contract or grant payments. In some cases, an LOC can literally keep the lights on during periods of low liquidity. The need for an LOC stems from unevenly matched inflows and outflows of cash over the course of a year. Even organizations that budget properly and achieve year-end surpluses may need to access a line of credit occasionally to fund payroll, rent, and other critical expenses.

At the same time, misusing a line of credit is akin to playing with fire. Management must understand the risks as well as the benefits of drawing on and maintaining an LOC.

What are the benefits of an LOC?

If you have ever managed the finances of any organization, or even your own personal finances, you can appreciate how difficult it is to match up cash inflows and outflows. It is not unusual for a nonprofit to incur substantial upfront expenses associated with delivering services that are ultimately funded by a third party, such as a government agency or a foundation. The challenge here is the lag in between the expense on the front-end and the promised corresponding funding that may take weeks or even months to come...

Read the full article here.

Minimizing Your State Unemployment Insurance Tax Rates: 2-Part Series

Posted by Joe DeRosa of PrimePay on Tue, Mar 12, 2013

Last Friday I discussed the SUI tax rates and some things that employers should watch out for and ways to keep the tax down. In this second of the two-part series on SUI rates, I will briefly discuss eligibility and disqualification factors.

Determining if your former employee is eligible for unemployment benefits requires some knowledge. It becomes complex because each state has a different formula for determining the least amount an employee must have worked to acquire benefits. The majority expect that a former employee has worked a portion of two different calendar quarters within the past 1&1/2 years. In addition, many states dictate that the employee must have earned a certain dollar amount.

Talk to your local unemployment office to find out what your state’s minimum is. You might want to consider putting in place a “trial” period for new employees less than the minimum time which would allow an employee to obtain benefits....

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BYOD: What's your Policy

By: Michael J. Weiner, Esq., is a Partner in the law firm of Glaser & Weiner, LLP

It started with the BlackBerry. Companies welcomed the idea that employees could maintain productivity and responsiveness even while they were away from the office. They purchased units and distributed them to employees needing to be constantly “connected”. The BlackBerry enterprise server was popular with CIOs and IT departments because it gave them the ability to control the company’s data and dictate and scale its IT infrastructure and information security. For several reasons, including BlackBerry’s loss of market share due to its failure to keep pace with the market’s innovators, and businesses’ recognition that they could eliminate the cost of purchasing smartphones for their employees, more and more businesses have started adopting a “Bring Your Own Device” (BYOD) strategy. As a result, employees are increasingly using personal devices to access, store and process their employers’ data and confidential information.