We are looking for a cheaper way to purchase diesel fuel for our new Jetta TDI. Also looking for a directory of gas stations that sell diesel fuel. Are there such things?
Archive for August, 2011
Does anyone know if there is a diesel card you can purchase?
Wednesday, August 31st, 2011Avoid Scam Learn About Asset Based Financing
Tuesday, August 30th, 2011
Shaw Capital Management and Financing tips on Why A Business Asset Based Loan Financing Is The Perfect Solution For Cash Flow In Canada
Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cashflow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full. You are a Canadian business owner and financial manager looking for info and guidance on a business asset based loan. What is asset based loan financing, sometimes called cash flow factoring – how does it work, and why could it be the best solution for your firm’s working capital challenges.
Let’s cover off the basics and find out how you can benefit form this relatively speaking new form of asset financing in Canada.
A good start is to always understand and cover off some basics around what this type of financing is. Simply speaking the facility is a loan arrangement that is drawn down and repaid regularly based on your receivables, inventory, and, if required, equipment and real estate should your firm possess those assets also.
By collateralizing your assets you in effect create an ongoing borrowing base for all your assets – this feasibility then fluctuate on a daily basis based on invoices you generate, inventory you move, and cash you collect from customers. When you need more working capital you simply draw down on initial funds as covered under your asset base.
Your probably can already see the advantage, which is simply that if you have assets you have cash. Your receivables and inventory, as they grow, in effect provide you with unlimited financing.
Unlike a Canadian chartered bank financing your business asset based loan financing in effect has no cap. The alternative facility for this type of working capital financing is of course a Canadian chartered bank line of credit – that facility always comes with a cap and stringent requirements re your balance sheet and income statement quality and ratios, as well as performance covenants and personal guarantees and outside collateral. So there is a big difference in the non bank financing we have table for your consideration.
Your asset based lender works with you to manage the facility – and you are required to regularly report on your levels of A/R and inventory, which are the prime underpinnings of the financing.
Smaller firms use a particular subset of this financing, often called factoring or cash flow factoring. This specific type of financing is less transparent to your customers, as the cash flow factor might insist on verifying your invoices with customers, etc. A true asset based loan financing is usually transparent to your customers, which is the way you want it to be – You bill and collect our own invoices.
If our facility provides you with unlimited working capital then why have you potentially not heard of it and why aren’t your competitors using it. Our clients always can be forgiven for asking that question. The reality is that in the U.S. this type of financing is a multi billion dollar industry, it has gained traction in Canada, even more so after the financial meltdown of 2008. Some of Canada’s largest corporations use the financing. And if your firm has working capital assets anywhere from 250k and up you are a candidate. Larger facilities are of course in the many millions of dollars.
The Canadian asset based financing market is very fragmented and has a combo of U.S., international and Canadian asset finance lenders. They have varying appetites for deal size, how the facility works on a daily basis, and pricing, which can be competitive to banks or significantly higher.
Speak to a trusted, credible and experienced business financing advisor and determine if the advantages of business asset based loan financing work for your firm. They have the potential of accelerating cash flow, giving you cash all the time when you need it ( assuming you have assets ) and essentially liquefying and monetizing your current assets to provide constant cash flow, and that’s what its all about.
Question about a BP gift card I recieved recently?
Monday, August 29th, 2011I was informed that the procedure for using this card has changed slightly. Apparently, redeeming the card involves traveling to the Gulf Coast and using the card to scrape petroleum off the feathers of a rare southern egret. I have also heard that BP will soon be introducing otters into their product line. I believe oil soaked otters will be placed directly in a cars fuel tank and burned. Is this true?
does the Fidelity Rewards (2% cashback) Amex credit card have an easier application process?
Monday, August 29th, 2011i just figured since they offer someone with a brokerage account at fidelity a credit card then they know that person has money, i.e. has funds, i.e. will pay off their balance, and thus be more lenient on approving people for that card…is that true?
i have a 675 score and just started building credit 1 year ago, so that’s why it’s low. about 2 months ago i applied for an amex card and got denied. is it a bad idea to apply for the fidelity card? i do understand that applying in general dings your score, hence why i am asking rather than doing it and finding the result. the amex i applied for was like the sky blue, or one of their best travel cards…who knows, they may have approved me for a regular card. i don’t really know enough about this to come to a conclusion. thanks.
DO conservatives like to play the fear Card?
Sunday, August 28th, 2011I like how no one mentioned about the possiblity of the JFK attack actually succeeding. Here are some quotes from DHS and experts in the field commenting on the attack
Despite their efforts, the men never obtained any explosives, authorities said.
“Pulling off any bombing of this magnitude would not be easy in today’s environment,” former U.S. State Department counterterrorism expert Fred Burton said, but added it was difficult to determine without knowing all the facts of the case.
Richard Kuprewicz, a pipeline expert and president of Accufacts Inc., an energy consulting firm that focuses on pipelines and tank farms, said the force of explosion would depend on the amount of fuel under pressure, but it would not travel up and down the line.
“That doesn’t mean wackos out there can’t do damage and cause a fire, but those explosions and fires are going to be fairly restricted,” he said.
Just another case of conservatives trying to play the fear card.
My problem is not with the FBI or the law enforcement personell because they did a good job it is the PR campaign of the President and his cronies to make this into some sort of 9/11 plot that was about to occur eventhough it was not going to happen and also a plot that wouldn’t work mainly because there are security mesaures to deal with this type of problem. Remember it doesnt take a terrorist for a fuel tanker to explode, hence why they already have certain safeguards in place to deal with this issue.
Regerugged I know why this would not happen. With pipelines like this if the main tank were to explode or catch fire the pipes that run away from are automatically shut off hence no gas explosion running down the pipeline hence no possible way that thousands upon thousands dying.
Factoring of Credit Card or Ach Transactions For Fraud Scams
Saturday, August 27th, 2011
Shaw Capital Management and Financing provide same-day-funding. We can help you meet your cashflow needs immediately without entering into a long term factoring relationship. The money you get for the freight bills we purchase is payment in full.
Many telemarketing businesses rely almost exclusively on credit card purchases but in order to conduct credit card sales, a legitimate business must first enter into a merchant account agreement with a bank which agrees to process their credit card transactions.
In most retail credit card transactions, the business provides the merchant bank with a sales slip (draft) representing the customer’s credit card information and signature authorizing the charge.
The bank then transfers this amount into the business’s merchant account. The business may then draw from that amount or transfer the money to other accounts. The merchant bank then contacts the issuer of the customer’s credit card (issuing bank), presents the sales draft and requests reimbursement.
The card-issuing bank then bills the customer for the purchase. If the customer returns the purchased item or challenges the charge, a “charge-back” results and the issuing bank credits the customer’s account and asks the merchant bank for a refund.
The merchant bank is then only entitled to recoup its loss from the “business”, not the credit card customer. If the business refuses, lacks sufficient funds, or is no longer functioning, the merchant bank absorbs the loss.
One bank review revealed that a single telemarketing operation deposited almost $1,000,000 into various merchant accounts. As a result of charge-backs, the bank lost $663,456 resulting from multiple sales credits of $399.50.
Due to the high charge-back ratios and lack of signed sales slips prevalent with fraudulent telemarketing companies it is difficult for the scammers to find merchant banks willing to accept their credit card transactions.
This restriction led to the development of “factoring” where the telemarketer uses a “reputable” third-party, non-telemarketing business (factoring merchant) as a conduit for depositing credit card sales for a percentage fee of around 15%. This factoring merchant processes the transaction either through his account or through a separate one created for the telemarketing company.
Telemarketers will induce acquaintances, friends and reputable merchants to open a merchant account with promises of easy money, neglecting to mention the personal liability involved. They may advise them not to deposit too substantial an amount of sales in a single day, or deposit too many sales using the same dollar amount, as this may raise suspicion at the bank.
Section 310.3(c) of the Telemarketing Sales Rule, which prohibits credit card laundering or factoring, provides that:
Except as expressly permitted by the applicable credit card system, it is a deceptive telemarketing act or practice and a violation of this Rule for:
(1) A merchant to present to or deposit into, or cause another to present to or deposit into, the credit card system for payment, a credit card sales draft generated by a telemarketing transaction that is not the result of a telemarketing credit card transaction between the cardholder and the merchant . . . .
Shaw Capital Management and Financing offer a complete line of factoring services, purchase order funding, asset based financing, accounts receivable management, and other related financial services.
Shaw Capital Management and Financing offer funding for a wide range of industries and flexible funding requirements that most businesses can easily qualify for.