5 Reasons Why You Should Consider a Business Cash Flow Loan
By- Victor Talha
Small businesses and/or start-ups are heavily reliant on their cash flow…
…as they often have difficulty regulating what comes in and out on a regular basis but it’s also not uncommon for mid-sized businesses to run into difficulties that require a business cash flow loan. Here are some reasons that you should consider getting a business cash flow loan for your business.
1. Bank Loans are Harder to Get.
The recession hit the nation hard and changed some ideas about borrowing and lending. Cash flow loans are easier to get than traditional bank and business loans and don’t have the same requirements for credit.
2. It Doesn’t Require Collateral.
A cash loan is different because a business can use it for working capital and generate the collateral for the loan over time.
3. It’s an Opportunity to Organize.
Many cash flow providers request to see cash flow charts and collect data about a company’s banking, payment processing, and accounting information before acceptance. If your finances are not completely organized before you go in to ask about a cash advance you should take the opportunity to balance your books and get on top of the situation. Plus, you can get comparative ranking information from your loan provider.
4. The Interest Rate is lower than You Think.
Many people think that the interest rates for a cash advance may be up near 50% but the actual rate is consistently below 30%. Right now businesses are trying to encourage lending and the average has moved even farther down towards 20%.
5. It’s also Less Risky than you Think!
There are a lot of misconceptions about borrowing cash advance loans, especially from misuse in people’s personal lives. Businesses can use this money responsibly to make ends meet, expand for better customer service, and balance their cash flow. At OCM Financial Group, we understand the unique reasons you may have behind obtaining your business loan. Allow us to meet your needs with one of our custom cash flow loan products. Your approval is just minutes away!
The Neighborhood was Saved by a Merchant Cash Advance
By – Raquel Ellen Donate
Not too long ago, our neighborhood was almost without a pizzeria! Thanks to a smart and savvy local chamber of commerce member, the neighborhood was saved by a merchant cash advance. Sounds like this was no big deal, right? Well it may not be a big deal where you’re from, however, in my neck of the woods, we don’t care too much for the big name pizza franchises. Instead, we love our Romano’s Pizzeria, so much so that me and my family have been eating here since our grandfather’s time. Now, thanks to a merchant cash advance, our favorite pizzeria and Italian restaurant was saved from having to close it’s doors.
We are not certain what went wrong, however we are sure this deep recession did not make matters better. After a few slow seasons, the owners had to put up their house in order to get a small loan to survive the dry spell on business. The recent harsh winter season was another nightmare along with broke down ovens and a few other essential items needed to run a successful eatery. After the winter was over, our neighborhood was in such dismay. Rumors had spread like wildfire stating that the owners of Romano’s were calling it quits! Let’s just say, everyone from the children all the way up to our grandparents were stricken with disbelief at the thought of losing everyone’s favorite pizza joint since the late 60’s. Some folks even set up a charity donation box. But it was just a drop in the bucket compared to the almost 6 figures it was going to take to save Romano’s.
Then one day, at a local chamber of commerce meeting, a gentleman was there from OCM Financial Group doing a seminar about how banks are getting tougher and stricter about lending any money out and how OCM Financial was able to get business owners the money they needed in less than a week! Attending this meeting, was one of the owners of Romano’s. Quite serendipitous to say the least! Soon after the presentation was over, the business finance specialist was passing out his business cards when the Romano’s owner asked if he could apply for a merchant cash advance to save his restaurant, and the rest, as they say, was history. Less than 6 days later, Romano’s was able to order a new oven and fix the broken one. Success! Neighborhood pizzeria saved and the tradition lives on!
The Heartbleed bug has sent a shock-wave through the Internet, as millions of users try to take stock of all of the accounts they’ve ever created and figure out how to change their passwords. Too bad their passwords are just the beginning of the problem.
Given the reach of Heartbleed and how long the bug existed, it’s hard to even say how much data unscrupulous hackers could’ve gotten their hands on and, because of how it worked, we’ll probably never know. Most people are changing their passwords on affected sites, sitting back and thinking (or hoping) they’re safe. But now is when the work really begins for a large group of scammers. Since many websites ask you (or even require you) to use your email address as a username, that information is also vulnerable to the Heartbleed bug.
Welcome to the beginning of phishing season. Phishing (and the other “ishings,” like vishing for phone scams and smishing for text scam) is a more time-consuming method of extracting the goods from you, but it is often more directly profitable.
With information about where you have accounts and your email address, it’s easy enough to send you a phishing email that looks like it’s coming from Tumblr but leads you to “update your credit card” with a site that is definitely not Tumblr. And it’s not just your email address you need to worry about.
You wouldn’t believe how far phone scam artists can get with just a little information and the right tone of voice. Plus, while more and more people are texting, many newcomers to the technology haven’t even considered the possibility that the link in the text that is supposedly from “your bank” or “your mobile company” leads you to a site that puts malware right under your thumbs.
If a phisher reeled in or bought information of yours – like emails, addresses or phone numbers — compromised in the Heartbleed hack, what should you watch for?
1. Any emails from companies imploring you to “click here” to change your password or update your account information.Companies are learning not to do this precisely because it’s such a common phishing and spear-phishing tactic.
You should try to pre-empt any such email by going straight to the affected websites once they’ve implemented the Heartbleed fix. But if you don’t, or didn’t, and get worried by the email, take the extra few seconds to open up a new tab and (correctly) type the website’s name into your browser.
2. Any phone call that promises to fix your problem but only if you give them passwords, account access or a credit card right now. Phone phishing (or vishing) scammers rely on two things to succeed: your fear that you did something wrong or are in some sort of trouble; and their ability to project authority and the ability to fix it.
If someone calls you and wants any information and won’t allow you to get off the phone to call back the customer service number you find on your own, they aren’t legit.
3. Any text message from an unknown number. Don’t open links and pictures or call any numbers you just don’t recognize. Text-message phishers (known as smishers) use our own Fear Of Missing Out (FOMO) to draw us in and take advantage of us.
4. Any calls from weird numbers, especially if your cellphone isn’t widely known. I assume that there are (mostly young) people who often get calls or texts from numbers they don’t know after a night — or several nights — out.
But for the rest of us, we probably hoard our cellphone numbers closer than most of the rest of our personal information, if only to avoid overage charges. So if you suddenly start getting calls from numbers you don’t know, don’t let the FOMO lead you down the wrong path.
Let them leave a voice mail: just because you can pick up doesn’t mean you have to. Technology has made a lot of things more convenient, but it’s also made the cleanup of a major security flaw like Heartbleed incredibly difficult. In the face of such a global issue, simply changing our passwords is like using caulk to seal a crack in the Hoover Dam.
Bugs and breaches, hackers and phishers are the new norm and we can no longer assume that technology will bail us out or “it won’t happen to me.” It is critical that we change the way we think about security and realize that in the end that each of us must be more vigilant and aggressive in our cyber self-defense.