How to choose the right commercial lender and the right commercial loan

How to Choose the Right Commercial Lender and the Right Commercial Loan

Ask the lender to give you five to five references, so you can evaluate their experience and background. If permitted, contact the references for feedback to see if they are satisfied with the lender.

Does the lender offer a wide range of financing options? Is financing accessible?

Check if the lender offers a range of financing options / loan packages that serve your present as well as your future needs. You may need a simple loan arrangement now, but can the lender support the future needs of your business? Accessibility in acquiring the funds right when your business needs them is important.

How well does the lender know your industry?

Lenders who know your industry will generally know the needs, capabilities and potential of your business, and they are in a better position to give you a suitable loan package. They can also see the total picture and recognize temporary limitations against your business’ potential.

Choosing The Right Loan

Once you have narrowed down your list of potential lenders, you can evaluate their financing options to determine which is most suitable for your business and for your needs.

Term Loans

These are the most common loan types that are used for general purposes such as working capital, expansions, purchases and acquisitions. Term loans are used to support your straightforward needs for additional funds, which are to be used for clear and specific purposes. These loans will allow you to acquire large sums over long periods which are to be paid monthly or as in the case of short-term loans, smaller amounts that are paid in full at the end of the term.

Credit Lines

These types of loans are more flexible as they allow you to draw additional funds whenever the need for additional cash arises. Interest rates for credit lines are based on the outstanding loan balance. Different lenders offer many variations of credit line type loans – you must evaluate each credit line carefully and determine which will fit your needs without being too costly.

Factoring

Another not so common option for smaller companies is factoring or receivables financing. Factoring allows you to «sell» your invoices so that you can have the funds immediately. If your business has active but slow paying accounts, factoring may be very useful.

Meeting your needs

If you have taken necessary measures and the time to properly evaluate potential lenders and their loan packages, you will be able to choose the right commercial lender and the right commercial loan to meet not only your current needs, but the future needs of your business.

Find Commercial Loans using our free Commercial Loan Application to compare rates and submit your information to multiple commercial lenders. We have over 300 commercial real estate lenders, business and construction lenders as well as private equity groups waiting to help you. Best of all, GlobalBX is FREE!

Find Commercial Loans using our Commercial Loan Application to compare rates and contact multiple commercial lenders for FREE at GlobalBX!

Is your property manager working for you

Is Your Property Manager Working For You? 5 Tips To Getting What You Pay For

With vacancy rates on the rise, it’s more important than ever to keep your units rented. Hiring the right property management company can go a long way towards doing so. But how can you be sure you’ve hired the right person? Following are 5 tips to help you make sure you’re on the right track.

1. Make Your Expectations Clear

One of the biggest mistakes that people make is rushing the process of hiring a property management company. Often they are so desperate to fill the position that they’ll interview only a few candidates before hiring someone. Taking a little extra time to hire the right property management company the first time will save you time and money in the long run.

The good news is that San Diego has a large pool of people to choose from. The first thing you want to look for in a potential property management company is enthusiasm. Remember that they will be the ones selling potential renters on your units. If they can’t even sell you on themselves, it’s unlikely that they’ll do an effective job for your rental units.

A good question to ask during the interview is, What do you like most about San Diego? If they answer with a generic response they are not the right candidate. Hire someone who exudes enthusiasm and who is passionate about the area. They should be familiar with and well informed on the attractions, such as Balboa Park, the numerous sporting options or Seaport Village. The key is to find someone who can speak with confidence and enthusiasm in regards to not just your rental units, but the area in general.

Once you have someone in mind that you think would make the right property management company, be sure to check their references and ask around and see if others in the field have any experience with them. Speaking not only to their previous employers but also with tenants that they worked with previously can be a big help.

When you’ve hired the right property management company, it’s important that you don’t simply hand them the management agreement with any addendums and assume that they’ll read them. Go over each issue individually to ensure that your new property management company understands the specifics of your rental agreement.

2. Stay Involved

While it’s true that you’ve hired a property management company to ease the burden of the day to day issues that spring up, this doesn’t mean that you can simply spend your days in Seaport Village, enjoying the San Diego sun or taking long drives through the mountains. You’ll need to strike a comfortable balance wherein you’ll check up on your properties, and your property management company, from time to time — without going overboard.

A good idea is to stop by your properties at least once a month. You’ll first want to do a drive by to check on the condition of the exterior of the property. Make sure your property looks great from the outside by creating an attractive curb appeal- this will help the property rent faster- the right kind of tenants take pride in where they live and these are types of tenants you want.

You should also take pictures of the interior and exterior of your units when you hire your property management company. This will give you proof of the condition your units were in when you hired them. In addition, have your property management company do a walk through every six months to make sure that there aren’t needed repairs that your tenants aren’t reporting.

3. Be Forward Thinking

It is the job of your property management company to take care of your advertising, but it’s your job to guide the way in which they do so. San Diego is not the type of city where you can simply place an ad in a newspaper once a month and hope someone spots it. Rather, you make sure your property manager is aware of the incredible promotional opportunities which exist on the Internet- if you see online channels your not using, get in touch with your manager and tell them about it.

Give your property management company an example of the type of ads you’d like written and follow up on them. Calling and posing as a potential renter can give you the best view of how your property management company handles these calls.

Check the books regularly. Focus on all the expenses that your property management company is incurring- keep on eye on each line item and expenditure so your property manager thinks twice before spending your money. The more often you check into these things, the less likely your property management company will be to abuse your trust.

4. Don’t Fear Change

San Diego is one of the most sought after locations to live in for many reasons. One of those reasons is that it is on the cusp of new technology and is a trend setting city. This means that you and your property management company must stay on the cutting edge if you are to find new renters and retain them.

One of the best ways to avoid having your San Diego apartment or home sit vacant for weeks or months at a time is to start showing them before your tenants move out. In order to do this, you must be sure that your property management company is keeping an open dialogue with your tenants. This will give you the best opportunity to know when you have tenants that will be vacating and to act pro actively.

You also need to be sure that you’re keeping an eye on the San Diego economy. While you do want to get a fair rate for your rental units, if you know that one of your long term tenants has been laid off or forced to take a pay cut, this is not the time for your property management company to raise their rents. Conversely, an increase in the San Diego Economy means that you should be ready to increase rental rates when the time comes not charging market rates is the worst mistake you can make as it devalues the perception of your property.

Lease increase need to be handled delicately- make sure you’re justified as if you’re not, your tenant will simply move to another location. However, if you instruct your property management company to do so in a fair way, you can relieve some of the tension. Keep your rental raises in line with other San Diego rentals. Tenants who understand that they may pay the same rent elsewhere are less likely to move-m oving is a huge headache and has many costs associated. It’s also a good idea to offer them incentive to stay, such as a bonus for signing a longer lease.

5. Appreciate Your Property Management company

Everyone likes to feel noticed and appreciated for their hard work, and your property management company is no exception. Something as little as a hand written Thank You can go a long way. As a management company, you should be quick to let your property management company know when their performance could be improved and quick to let them know when they’ve done an excellent job as well.

How to benefit from working with speakers bureaus

How to Benefit From Working With Speakers Bureaus

What Speakers Bureaus Do For You

The bureau’s job is to know where and how to find the right speaker for your event, send you materials to review, schedule conference calls, secure / contract the speaker and facilitate financial arrangements. Like travel agents, speaker bureaus smooth the process for securing talent for your event and charge you nothing while saving you enormous amounts of time. Since speaker bureaus get paid from the speakers fee, they receive compensation only when you book a speaker they suggest.

Bureaus act as partners for researching speakers and finding the perfect match for your event. They can assist with determining the appropriate mix of content, personality and entertainment for the presentation. Finding the right speakers who can meet your needs and budget is the bureau’s objective.

Bureaus generally represent a large roster of speakers (ranging from local business experts to worldwide celebrities), and can also book speakers they don’t exclusively represent. Speakers bureaus work with professional speakers who are seasoned experts and have demonstrated excellent speaking skills, professionalism and expertise of their topic. The bureau interviews them, checks their references, reviews their performances in person or on tape and determines that they will deliver the best presentation for your event.

Bureau Process

First, bureaus will ask you about the goals and objectives for your event and about your company / division. During the interview, a bureau agent will listen to your program needs and assess what type of speaker would fit your program objectives and budget. Is your company downsizing? Experiencing tremendous change & growth? Sales slow? Company morale low? Conference theme?

Next, your bureau agent will research the large pool of available speakers to develop a short list of the top candidates for your event. Your agent will then send you you press kits and/or videos of the speakers you find most interesting. Finally, they will confirm availability for the speaker(s) you have chosen and will arrange all contracting, finances and specific presentation and travel requirements.

How to Maximize Your Bureau Relationship

Using Multiple Sources to Find Your Speaker

Since speaker bureau services are free, meeting planners will often contact numerous bureaus to help find a speaker. This can lead to confusion and wasted time. Instead of developing a close relationship with your chosen bureau and receiving a few excellent speaker suggestions for your event, you will receive piles of speaker kits (many duplicates) and dozens of calls from various bureau agents and speakers.

By using numerous bureaus, you can quickly diminish the time savings you would gain in the first place. Often, bureaus will not devote much time to these «multiple bureau» projects since they have less chance in closing a deal and the speakers they work with will be confused from multiple bureau contacts.

For example, a meeting planner contacts five bureaus and five bureaus send them four speakers for review (many are duplicates). What do they do then? Who do they choose to book the speaker? The meeting planner will have all five bureaus calling them to find out what their decision is and how they can help.

Communication

Bureau agents work hard to help meeting planners locate and book the perfect speaker. It is important to clearly communicate throughout the speaker search process. Give your bureau agent as much information about your goals and your chosen event theme as you can. Provide clear and quick feedback on speakers they may suggest and keep them informed about your selection process.

We all know the meeting process can be ever changing, especially committee run selection processes. Your bureau agent knows this, so don’t be afraid to involve them in your process, even if it means letting them know the budget has been cut this year or that the theme has changed. Your bureau agent wants all your events — for years to come — to be successes.

If you are using other sources, it is always a good policy to let your bureau(s) know others you may be working with. Let them know immediately if you are considering booking a speaker from another source. This way, multiple bureaus won’t continue contacting the same speaker trying to secure «holds» for your event date.

Bureaus take care of many of the details for booking speakers — from locating the perfect speaker(s) available for your event to contracting negotiations and presentation details — which ultimately saves you time and money. Working with bureaus is a time saving and rewarding experience.

How to work with contractors to create great content

How To Work With Contractors To Create Great Content

Many Internet marketers use writers to create content for their websites. We are frequently asked for suggestions on working with contractors. Let’s take a look at some of the more common questions on the subject of hiring a writer.

How do I find the right person for the job?

When first looking for a writer, you might be tempted to go with the cheapest one just to save a few dollars but cost should not be your only concern — and never your first concern. This person is going to be writing as you and you should feel comfortable putting your name on the work they do. Here are some things to do to find the best fit for you.

— Request samples of their writing. This will give you a feel for how they approach different topics, the amount of time they put into making sure the content is informative and engaging to your readers, as well as if they have an understanding of the subject.

— Request references. Ask around your group of networking friends. Have they used the particular writer? Was the writer timely and did she ask questions for clarification? Was the client happy with the outcome of the content? Did the writer need to tweak the article more than normal?

— Test their work. Give the writer a small assignment so you can see how she works. Does she take constructive criticism well? Does she make certain she understands the assignment before beginning by asking questions? Does she need hand holding throughout the entire process or do she complete the project with very little direction?

What about payment?

How payment to the contractor is handled will be something the two of you should discuss up front, before any work is passed back and forth. You should find out the following from the contractor regarding payment:

— What are her rates? Do she charge by the hour, per page, per word, etc?

— Does she offer discounts for on-going work or client referrals? Many writers will offer this. Keep this in mind for future projects.

— When do they invoice clients? Do they bill once the project is complete, weekly, or monthly? What are your payment terms?

— Is a deposit required? If so, how much do you need to initially put down? Although paying a deposit is ok, never pay 100% upfront. We like to think the majority of contractors are honest and ethical, but there is always a possibility a contractor will accept payment in full and then never complete the work. Give your writer an incentive for completion; payment or remainder of amount due.

— Will you be paying them via paypal, check, or some other method? Paypal is pretty standard in today’s virtual world, but not everyone does it this way, so be sure to double check. If you want an alternate payment method, be sure to ask about that.

How do I assure I keep a contractor that does a good job?

When you find a writer that fits well with you and your business, you had better keep them. Some tips for keeping them include:

— Give her continual work. Don’t just throw her a task or two a month, when you need something and expect her to stick around forever. She can and will move on to bigger and better projects if she doesn’t have on-going work from you.

— Be patient during the learning curve. Working with someone new always has a learning curve. Your writer needs feedback and patience while she learns your writing style and preferences.

— Pay her on time, every time. Swift payment makes a writer want to work with you more because she knows she doesn’t have to worry about whether she will receive her money or not.

— Allow them to correct any mistakes they make…don’t just fix it for them. Your writer can’t learn what you want if you don’t let her know.

Once you find someone that works well, using a contractor to create content for your business is a wonderful thing. Be patient during the learning curve that comes with working with someone else and if you find it’s just not working out, don’t sweat it. Let her go and move on.

Know the difference between saas and cloud computing

Know the Difference Between SAAS and Cloud Computing

A lot might mix up software as a service, aka SAAS, with cloud computing, when in fact these two are distinctly different. SAAS has been around for more or less 10 years. It can be differentiated from cloud computing by its presentation, resource allocation, variation in applicable technique, and differences in technology.

It’s important to understand the difference between software as a service and cloud computing, as without a clear picture incorrect decisions could be made and indeed decision-makers could find themselves assessing the viability of future projects based on incomplete or incorrect knowledge.

Some believe that the original term «software as a service» was penned by the Software and Information Industry back in 2001, in reference to a published white paper. Such term would generally refer to software for business which can be made available on demand, which allows application access minus the complicated licensing across devices needed to gain access to the software. This refers to ‘on demand’ licensing, allowing the software being questioned to be usable when the need arises. Software as a service, or SAAS has been developed and could be similar with browser access, which allows users to gain access to software on demand.

Cloud computing is essentially an evolution of software as a service. The major difference is essentially determined by accessibility and environment. Whereas the software as a service customer is subscribing to a specific service, the cloud computing customer subscribes to the computing environment, which can be scalable and on-demand. A subscriber cab actually gain access to multiple solutions from this, rather than having to look after the solutions from their own data centers. While software as a service can access cloud computing resources as part of this delivery process, the limitations associated with specific software as a service solutions hastened the development of the cloud computing concept. Subscribers have demanded for more than just single applications, but needed real flexibility associated with access to a secure environment like it is their own, minus the headache related to its maintenance.

Since software as a service came around by some time in 2000, a lot of revolution associated to this software has already taken place. Due to the impacts of the most recent recession, executives are looking at ways to save on capitalization and would be more careful when it comes to investments. Moreover, processing power is not very much cheaper than how it was which promises more economic viability for companies if they switch to cloud computing solutions for their data handling needs.

It’s important for decision-makers to understand that they may not be subject to the restrictions that a typical software as a service vendor may impose, when they select cloud computing for their needs. Such applications or solutions could be easily accessible from wherever, which gives it such flexibility for users. True economies would be expected although capital expenditure and major equipment upgrades could be avoided.