Tagged Business

Credit Card Builders Passes $88 Million in Funding for Small Business Clients

Spring Hill, Florida (PRWEB) April 21, 2015

Today Credit Card Builders announced that the wave of credit easing in 2014 continues to spur significant growth – helping the Company to surpass $ 88M in funding for their clients.

According to Fortune, business loans rose $ 42 billion in the fourth quarter of 2014, and credit card lending rose $ 35 billion. In contrast, mortgages rose just $ 6 billion.

Credit Card Builders helps small businesses and real estate investors get significant funding (up to $ 250,000 and more) at zero percent interest via creative credit card financing. For businesses and investors who only need financing for a year or two, intelligent credit card borrowing can be more cost effective than even a mortgage.

Ever since the current economic outlook improved and the market eased up, banks have looked for various ways to increase their earnings. Banks and federal associations are more liberal in their approach to risk, and always need to find ways to generate more business. The result is that some avenues of acquiring financing are now easier than ever.

One of the easiest, and if done correctly, least expensive, ways to get financing is via credit cards. While many credit card companies still charge tremendous interest rates, there are thousands of credit card offers at favorable rates for small businesses.

In fact, when the Office of the Comptroller of the Currency released their 19th annual “Survey of Credit Underwriting Practices,” they reported that among all loan products, credit cards had the greatest easing of underwriting standards.

Zero interest loans make sense for banks. For one thing, banks themselves can borrow at historic lows (they borrow at near zero percent from the Federal Reserve), so they have access to lots of capital. Add to this the notion that banks have a lot of ways to make money, and it starts to make sense.

Banks want to have relationships with small businesses and investors. If they already have a relationship, they want to surround that relationship with services to keep them from going to the competition. So, providing clients with great credit card offers costs them very little, and allows them to further develop those relationships.

Although many zero percent interest terms appear to be capped, according to Ari Page, CEO of Credit Card Builders, if you know what you’re doing, that’s not the case.

“Banks hope you’re not savvy enough to realize that if you know who to talk to and what to say, you can keep rolling over zero interest introductory offers into the foreseeable future,” he said.

According to Mr. Page, the following are some actions small businesses and investors can take to capitalize on low- and zero-interest credit cards.

1. If you don’t have a business entity, get one. It’s easy to acquire and anyone can do it. You want to be smart about it, as some entities are far more lendable than others. For example, having Marketing/Advertising or Business Management in your business name, indicates you are (on average) a better risk than someone with Real Estate in their title. There are also important nuances in terms of what type of entity you set up.

2. Know how to elucidate what your business does. If you’re stuttering, stammering or seem unsure of your business, don’t expect the bank to lend to you.

3. If you have personal credit issues, get them cleaned up. There are many agencies, such as Kaydem Credit Help, that can assist you.

4. Search the web for credit card offers for businesses.

5. Do your homework to sort through various offers, identifying any hidden fees.

6. Explore existing relationships and see what they’re willing to do. I once went to my bank to open a checking account and was offered a $ 17,000 credit card for being a loyal customer.

7. Consider requesting line increases or exploring promotional rates for those cards that you already have. Many banks won’t hesitate to reward good customers with increased credit lines.

Last June, Credit Card Builders announced a new funding program to make their business credit services more accessible to a wider array of qualified small businesses. Their Performance-Based Funding program allows qualified clients to defer payment until credit is received. With this option, there are no up-front fees, and borrowers can instead, opt to pay a percentage of the credit received.

Asked about his company’s success, Mr. Page said, “If you need significant dollars – $ 50-100K and beyond, you really need to know what you’re doing. Having created strategies and built relationships with leading lending institutions for eight years, we know the opportunities and the potholes along the road.

“Inexperienced borrowers do not realize how to pursue large amounts of credit without shooting themselves in the foot,” he added. “They can spend a lot of time trying to do this on their own and wind up negatively affecting their personal credit, applying for smaller cards that will lock them out of getting better deals, using strategies that will flag them as too risky, or incurring sneaky annual fees (we’ve seen them as large as $ 500) and/or high balance transfer rates. Another negative outcome is to be approved for a business card and only realize after the fact that the card will be reporting to your personal credit.

“Using a company like Credit Card Builders, where we hold your hand every step of the way, virtually guarantees that you’ll get the most possible credit for your business. Savvy executives know when to use their special skills for maximum gain, and when to outsource to the experts. These are the individuals who will be successful acquiring credit in our programs.

“As the economy improves and lending continues to increase, it’s even more imperative for business owners to know how to discern their options. We’re here to help so small business owners can do what they’re best at – making money.”

About Credit Card Builders: Founded in 2007, Credit Card Builders was created as an alternative to high interest lending. Through its relationships with some of the nation’s largest credit lenders, Credit Card Builders helps small businesses and real estate investors get up to $ 250,000 in funding with little or no interest.







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Breezeworks Enhances Leading Smartphone Business Manager With On-Site Estimates

San Francisco, CA (PRWEB) April 08, 2015

Breezeworks today announced the addition of best-in-class estimate functionality to its comprehensive smartphone business management application for service professionals. Breezeworks Estimates allows businesses and independent service pros to rapidly create customer-ready estimates, allowing them to expedite the estimating process and book more jobs, faster. As a leader of the emerging trend of mobile field management software, Breezeworks offers a low-cost, full-featured business management tool that enables service professionals to run their entire business from a smartphone. The addition of the estimates feature follows closely on the heels of several recent enhancements including camera-phone credit card scan processing, reduced payment processing rates and streamlined scheduling.

“Our primary goal at Breezeworks is to give our service pro customers what they need to save time, increase profits and grow their businesses,” said Mathew Cowan, CEO and co-founder of Breezeworks. “As the number one feature request from our customers, we knew it was important to deliver the most complete estimating tool on the market and seamlessly integrate it with the rest of our feature set. Breezeworks customers can now use the estimating tool to quickly and easily develop an on premise estimate, getting to ‘yes’ quicker and ultimately booking more work.”

Since its launch in late 2014, Breezeworks has won customers on all 50 states. Now, plumbers, electricians, HVACRs, locksmiths or any other mobile professional can use Breezeworks as a complete end-to-end solution for estimating and winning new jobs, scheduling appointments, real-time job management, collecting payment, minimizing customer no-shows, navigating traffic, capturing repeat business and following up with customers.

To create an estimate, Breezeworks users simply generate a customer file, then follow on-screen prompts to fill in materials, labor and others costs, and can then instantly present a complete estimate for customer approval.

“While Breezeworks can increase revenue by up to 30 percent and substantially reduce administrative tasks, we also feel it is important that our customers are able to capture all the benefits and profits derived from our software,” said Breezeworks co-founder and CTO Adam Block. “Even as our feature set expands, Breezeworks still charges a low monthly rate, with no additional fees, percentages or overhead.”

The Breezeworks Smartphone Business Manager is available for download at http://www.breezeworks.com and from the Apple iOS App Store or from the Google Play Store for Android devices.

A revenue calculator is provided here: http://www.breezeworks.com/revenue.

A demo of the Breezeworks Smartphone Business Manager is available at http://www.breezeworks.com.

About Breezeworks – Run Your Service Business From Your Smartphone™

Breezeworks empowers independent service professionals to run their business from their smartphone so they can delight customers and make more money. Breezeworks connects on-site service providers and customers with its smartphone business manager apps, making it a breeze to schedule appointments, manage jobs, collect payments, eliminate no shows, navigate traffic, capture repeat business, follow up with customers and connect with suppliers.

Breezeworks was founded by veteran technologists Mathew Cowan (Intel, CNET, iVillage, Geocities) and Adam Block (IDG, Harmonic Communications) and is backed by foremost institutional investors like Obvious Ventures, Harmony Partners and angel investors, such as Marc Benioff, Max Levchin, James Murdoch David Sacks, Peter Thiel and Jeff Skoll.

Press Contact:

Joe Volat

press(AT)breezeworks.com

###







MB Business Capital Announces $15 Million Funding for Plastic Suppliers, Inc.

Chicago, IL (PRWEB) April 23, 2015

MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $ 15 million senior credit facility to Columbus, Ohio-based Plastic Suppliers, Inc. Plastic Suppliers is a manufacturer and distributor of highly engineered, value-added plastic sheeting and films. The company serves food, institutional and retail packaging, label and office supply markets. Plastic Suppliers manufactures polystyrene and bio-based films in Columbus, Ohio for global markets. The company also distributes a wide variety of other film products in the Americas, Europe and Asia through US distribution centers in California, Illinois, and Texas and through the company’s Sidaplax subsidiary in Belgium. The new MB credit facility was provided to fund working capital needs of the company.

About MB Business Capital

MB Business Capital is the asset based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks asset based lending opportunities in the $ 5 million to $ 50 million range and is offering dedicated syndication opportunities of up to $ 100 million. The firm can also provide access to the full range of business banking products and services offered by MB Financial Bank.

About MB Financial, Inc. (NASDAQ: MBFI)

MB Financial Inc. is the Chicago-based holding company for MB Financial Bank, which has approximately $ 15 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success. Learn more about MB Financial, Inc. at http://www.mbfinancial.com.







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High-Risk Business in Midst of Peak Season: Payscout Comments on Risk Management Services that Assist Travel Agents in Navigating Potential Liabilities

Los Angeles, CA (PRWEB) March 27, 2015

According to the U.S. Department of Commerce, in 2012 the U.S. travel and tourism industry generated nearly $ 1.5 trillion in economic output. This activity supported 7.8 million U.S. jobs, and accounted for seven percent of all U.S. exports. While the majority of activity in the industry is domestic, expenditures by international visitors in the United States generated nearly $ 166 billion in sales and a trade surplus of more than $ 47 billion. (1)

The need for travel agents—and the opportunities for them in the market—continues to grow. Only last week, for example, Airlines for America (A4A), a trade group of U.S. air carriers, predicted that travel in March and April of 2015 will increase about two percent, to an average of 2.2 million passengers a day. In its announcement, A4A attributed the increase in spring air travel to rising U.S. employment and personal incomes, an improving economy, the highest consumer sentiment in a decade, and the continued affordability of air travel. (2)

With increased opportunity, though, comes increased risk. The primary reason for this, says Payscout CEO Cleveland Brown, is that consumers are statistically more likely to dispute and charge back travel agency charges than other types of transactions, leading agencies to be placed in the same risk category as merchants selling adult products, escort and companion services, fortune telling, and sports forecasting or odds making. “The risks are real,” says Brown. “As a sales agent for an airline, for example, an agency might be liable for the entire amount of an airline ticket if it were successfully disputed or were purchased with a stolen credit card.” An additional layer of risk is the future deliverable of the product. A customer may purchase travel up to a year in advance, which leaves the transaction to chargeback exposure up to the time of travel and an additional six months to year after travel, if the consumer is not satisfied with the services.

This particular risk is likely to remain a part of the travel agency business for the foreseeable future. “Until credit card acceptance rules are materially changed,” say travel attorneys Norman Bluth and Mercedes Ozcan, “travel agencies are at risk when a customer perpetrates a fraud. Given this reality, the best way to be protected against credit card fraud is to know your customer. A travel agency needs to obtain as much information as possible from its customers, and to respond to debit memos and chargebacks within a few days of receiving notice of such.” (3)

Travel agents can help their clients avoid the danger of fraud while traveling, which helps build relationships and mutual trust—and may reduce chargebacks. A recent USA Today feature on identity theft lists a number of tips agencies can provide their customers, such as avoiding free, insecure Wi-Fi networks; disabling a smart phone’s ability to automatically connect to hot spots; locking the phone with a password; using cash wherever possible; and avoiding street-corner ATMs. (4)

When working with its clients in the high-risk travel field, Payscout helps agencies spot possible risk patterns, take preventive measures, and protect their businesses while continuing to process payments smoothly. Payscout’s goal is to enable its clients to remain competitive while taking advantage of the growth opportunities in their industry.

“Travel,” says Brown, “is a thriving—and essential—industry in the United States. However, it brings with it a number of issues about which industry participants must be very careful. As far as credit card processors are concerned, travel agencies are among the highest-risk merchants, which means new travel agencies have great difficulty opening a merchant account that enables them to handle credit card transactions. We strongly encourage merchants in this space to work with a merchant service provider who is experienced in managing risk.”

As with any high-risk activity, an ounce of prevention is worth a pound of cure. The most successful travel agencies, Brown notes, train their staff in the proper application of credit card acceptance best practices, and have them apply these practices on a consistent basis. While specific procedures will vary from agency to agency, at a minimum, agency management should be careful to set aside large-value bookings for fraud review, track and store key characteristics of all known fraud transactions, and carefully screen high-risk bookings, such as those in which the passenger and the cardholder have different names, or when the date of travel is less than six days after the date of purchase.

About Payscout, Inc.:

“Payscout Supports the Entrepreneurial Dream One Transaction at a Time.”

Payscout is a global merchant service provider (MSP) and payment service provider (PSP) with tier-one bank sponsorships in the United States, Latin America, Caribbean, Asia-Pacific and Europe. Serving small to medium businesses (SMBs) and enterprise companies alike, Payscout offers payment processing solutions for brick-and-mortar and eCommerce transactions. The company has earned acclaim as a new-generation provider of merchant banking services, specializing in online/eCommerce retailers with a predominant proportion of card-not-present (CNP) transactions; and it is one of the few providers to deliver a true global payment solution that encompasses all merchant risk verticals. Customers can access Payscout’s credit card processing services via a state-of-the-art, web-based user portal and through direct interactions with highly trained experts. In addition to supporting thousands of clients across a multitude of industries and all 50 states, Payscout maintains global partnerships with VISA USA, Bank of America Merchant Services, VISA Europe, VISA Latin America, VISA Asia Pacific, MasterCard Worldwide, China Union Pay, Deutsche Bank, First Data and Payscout Brazil. Payscout was recognized as one of America’s fastest-growing privately held companies in 2014, ranking #2,416 on Inc. magazine’s Inc. 5000 list. Within the financial services industry, Payscout placed #140 nationally and #24 in California. For more information, visit http://www.payscout.com.

1. U.S. Department of Commerce, Industry Snapshots, 2013.

selectusa.commerce.gov/industry-snapshots/travel-tourism-and-hospitality-industry-united-states

2. Dallas Morning News, March 11, 2015

aviationblog.dallasnews.com/2015/03/airline-group-expects-spring-2015-travel-to-increase-2-percent-over-2014.html/

3. “What to do about the costly problem of charge back fraud,” Travel Market Report, September 26, 2013. travelmarketreport.com/articles/What-to-Do-About-the-Costly-Problem-of-Chargeback-Fraud

4. USA Today, May 15, 2014. usatoday.com/story/travel/2014/05/15/identity-theft/9091065/