Business Finance Solutions http://bfs-usa.com Creating cash flow for businesses Wed, 24 Sep 2014 05:03:13 +0000 en-US hourly 1 Creating cash flow for businesses Business Finance Solutions clean Creating cash flow for businesses Business Finance Solutions http://bfs-usa.com/wp-content/plugins/powerpress/rss_default.jpg http://bfs-usa.com Alternatives to Venture (Vulture) Capital Financing http://bfs-usa.com/alternatives-vulture-capital-financing/ http://bfs-usa.com/alternatives-vulture-capital-financing/#respond Wed, 24 Sep 2014 05:03:13 +0000 http://bfs-usa.com/?p=1139 If you are a business owner seeking equity investment or subordinated debt loans you should know about two relatively unknown funding programs available to U.S. companies, before you seek “Vulture Capital Financing”. This month’s speaker, Sam Thacker will discuss the pros and cons of obtaining growth capital from venture capital firms and Small Business Investment […]

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Venture Capital Financing

Venture (Vulture) Capital Financing

If you are a business owner seeking equity investment or subordinated debt loans you should know about two relatively unknown funding programs available to U.S. companies, before you seek “Vulture Capital Financing”. This month’s speaker, Sam Thacker will discuss the pros and cons of obtaining growth capital from venture capital firms and Small Business Investment Companies (SBICs) and Business Development Companies (BDCs).

“Small Business Investment Company” or an SBIC is a privately owned investment company that is governed and licensed by the Small Business Administration. SBICs either make equity investments into company or make subordinated debt loans. They are regulated private funds that must follow a specific set of rules set forth by the SBA. SBIC’s have been around for over 50 years, and were designed to channel growth capital to small businesses. There are approximately 350 SBICs in the United States and which have made over $1.8 billion in capital commitments. SBIC funding may be an option for companies are looking for start-up capital, growth capital, or mezzanine capital.

Another relatively unknown funding source is “Business Development Companies” or BDCs. These are private companies that have been created to help start ups and initial stage companies grow. They were created by Congress in 1980, but few business owners have ever heard of them. BDCs are very similar to venture capital funds; however they are regulated investment companies like SBICs. All of them are publicly traded companies that are listed on the NYSE, AMEX and Nasdaq. A major difference between a BDC and a venture capital fund is that BDCs allow smaller, non-accredited investors to invest in start-up companies.

On Thursday, September 25th, Sam will speak about how these two types of regulated investment companies can help small and mid-sized businesses, and how:

  • SBICs and BDCs are different than “Vulture Capital Financing”
  • To find the right SBIC or BDC?
  • SBICs fund company growth
  • To prepare for the evaluation and investment process

If your company is commercializing a product or service, or growing to the next level, this presentation will help you better understand venture capital financing and other options for growth capital.

About our speaker

Sam Thacker has been a commercial banker or consultant to SBICs since 1994. Companies that have difficult financing challenges turn to him for help. He is the co-owner of Austin based Business Finance Solutions and can be reached at 512-657-7552.

To RSVP for this special event visit: Austin Small Biz Operations & Finance Gorilla Group.

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Cash Flow Forecast – Critical for a Growing Business http://bfs-usa.com/cash-flow-forecasts-critical-growing-business/ http://bfs-usa.com/cash-flow-forecasts-critical-growing-business/#comments Wed, 18 Jun 2014 21:37:29 +0000 http://bfs-usa.com/?p=1051 Cash Flow Forecast Template – Free download We have built a 13 week rolling cash flow forecast template that you can download for free. Our cash flow forecast tool has been downloaded thousands of times and we have received rave reviews from companies who use it and other cash flow experts. The forecast tool is […]

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Manage your money with our free 13 week cash flow forecast tool. This easy to use template is ideal for contractors, service companies, and any fast growing, seasonal, or business to business company.

Manage your money with our free 13 week cash flow forecast tool. This easy to use template is ideal for contractors, service companies, and any fast growing, seasonal, or business to business company.

Cash Flow Forecast Template – Free download

We have built a 13 week rolling cash flow forecast template that you can download for free. Our cash flow forecast tool has been downloaded thousands of times and we have received rave reviews from companies who use it and other cash flow experts. The forecast tool is free to download, use and modify to fit your company’s situation (and you can call us with any questions).

Cash Flow Forecast Strategy

We believe you should update your cash flow forecast on a weekly basis. Our cash flow tool (download link above) is set up to forecast the weekly cash flow needed to run your business.

Other models you may find on the Internet are set up as monthly forecasts. Monthly forecasting may be great for a business plan, but not for running a fast growing business. We designed our 13 week cash flow forecast because we weren’t able to find an easy to use tool that would allow you to look at your business quarter by quarter (13 weeks at a time).

Users who use our model template have said that once they became proficient at using it, they don’t stop, even when sales plateau or they build a good amount of safety cash, they rely on our cash flow forecast to run their business.

Our cash flow forecast template is easy to use. Simply start with a list of all your cash outlays (expenses) and the week they are due. For example, payroll may come due every other week.  Enter these figures into the forecast tool to see the amount of cash required on a weekly basis. Create a list of all your projected cash inflow and enter those into the forecast tool. Each week, reconcile the incoming cash with the projections, then reconcile the outgoing cash with what actually went out. Once you have done this, you will have a very accurate picture of your cash flow situation. The most current week will have the highest degree of accuracy and the tool will help you anticipate cash shortages in time to find remedies.

What kind of business should use a cash flow forecast?

  • Any business that is outrunning their cash
  • Businesses that have experienced uneven historical financial performance
  • Fast growing businesses
  • Seasonal businesses that need more cash during busy months and have less cash in slow months
  • Businesses to business companies like oil and gas service companies, construction companies and government contractors, or others in industries with longer business cycles and payment streams

Five reasons to use a cash flow forecast

  1. Using a cash flow forecast will let you be proactive rather than reactive when managing your cash.
  2. Owners are always the last to get paid. Cash flow forecast projections will help owners better manage the draws they are able to take, and sleep at night better.
  3. Your company will be better able to take prompt payment discounts and make forward buying decisions.
  4. Lenders love to see a business that is forecasting their cash flow. It is a sign of strong management.
  5. When you consistently use a cash flow forecast you find yourself being more successful and less stressed.

 How to calculate your accounts receivable turn (days sales outstanding)

One important key performance indicator you should always know when setting up a cash flow forecast is what your accounts receivable turnover is in days. To calculate this figure, first determine what your average daily sales are. Divide the total credit sales for the previous month by 30 to determine this figure.

For example, if you had credit sales of $100,000 in the prior month, your average daily credit sales for 30 days total $3,333. If current A/R is $150,000, divide that number by $3,333. The result is 45, which is your A/R turnover in days. This is also known as days sales outstanding (DSO).

Easy cash flow forecasting anyone can do

Preparing your cash flow forecast should not be thought of as busy work. It takes a little time to learn the process. We at Business Finance Solutions have been working clients coaching them on setting up their cash flow templates, making weekly adjustments to the forecast, and making strategic decisions based on cash flow since 2007.

A great source of information on cash flow management can be found in Philip Campbell’s book, “Never Run Out of Cash, which can be purchased on Amazon.

We offer anyone who wants to use our forecast a free online live tutorial on using the forecast. If you would like ongoing assistance to learn how to make strategic decisions based on the forecast, we offer inexpensive one on one consulting.  For more information, please complete our online form, or email us at info@bfs-usa.com, or call us at: 512-990-8756.

Cash Flow Forecast Template 13 weeks – (Click here for your free download)

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LinkedIn Profiles: More than pretty pictures http://bfs-usa.com/linkedin-profiles-pretty-pictures/ http://bfs-usa.com/linkedin-profiles-pretty-pictures/#respond Wed, 18 Jun 2014 17:23:32 +0000 http://bfs-usa.com/?p=1066 You’ve joined LinkedIn and created a profile. Now what? Does your LinkedIn profile represent your professional brand? What message are you sending through your profile? LinkedIn is the world’s foremost business social network with over 275 million professional profiles in 20 languages. Business people from all over the globe use it every day to find […]

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You’ve joined LinkedIn and created a profile. Now what? Does your LinkedIn profile represent your professional brand? What message are you sending through your profile?

LinkedIn is the world’s foremost business social network with over 275 million professional profiles in 20 languages. Business people from all over the globe use it every day to find new business opportunities, keep in touch with business contacts and hire employees.  Learning to use LinkedIn effectively can significantly help grow your business and help you achieve your professional goals.

Our speaker: Marc Miller, Career Pivot

Marc, a 20+ year veteran of IBM, turned entrepreneur will share with us LinkedIn best practices and five (5) actionable tips on how to manage your “professional brand” using the standard features of LinkedIn.

LinkedIn Profile tips:

  • How to create your profile and your professional brand
  • How to use LinkedIn for business development
  • How to qualify your sales prospects
  • How to promote yourself and your business

Join us and learn a few simple strategies to create an effective and memorable LinkedIn profile and get more out of your time on LinkedIn.

If you know a business owner looking to grow their sales, please invite them to this free meeting and unique business education forum.

Invite an entrepreneur and reserve your seats today.

Event Information

When:  Thursday, June 26, 2014
11:30 AM to 1:00 PM
Where:  Sherlock’s Baker Street Pub
9012 Research Blvd,
Austin TX 78758
512-380-9443
RSVP:
To learn more about this event or RSVP for this FREE event go to the
Austin Small Business Gorilla Operations and Finance Jungle

Join our Meetup to receive monthly presentation notices.

Each month, we bring business owners interesting and educational presentations by experts in the fields of accounting, law, sales and marketing. Free to join.

Register today!

Note:  If you are a subject matter expert in a business topic and would like to present to our Meetup group, please send us your profile and information. Contact us here.

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Financing Government Contracts – Myths & Facts http://bfs-usa.com/financing-government-contracts-myths/ http://bfs-usa.com/financing-government-contracts-myths/#respond Wed, 28 May 2014 08:00:38 +0000 http://bfs-usa.com/?p=1028 Many lenders don’t like financing government contracts, but the reality is U.S. government, state and local government contracts can be financed. One of the most pervasive myths among bankers and federal governmental contractors is that the accounts receivable (A/R) can’t be financed. Many state and local government contractors believe the same issue is true. MYTH: Financing […]

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Obtaining financing for government contracts can be done and we can show you how.

Obtaining financing for government contracts can be tough, but we do it all the time. Let us show you how. Chart – Arizona State University.

Many lenders don’t like financing government contracts, but the reality is U.S. government, state and local government contracts can be financed.

One of the most pervasive myths among bankers and federal governmental contractors is that the accounts receivable (A/R) can’t be financed. Many state and local government contractors believe the same issue is true.

MYTH: Financing government contracts can not be financed because governmental contracts are not assignable.

FACT: Governmental contracts are normally not assignable, but the proceeds of the contract (A/R, and cash) are. That means a bank or non-bank lender can finance the accounts receivable associated with a government contracts.

MYTH: Governmental agencies are very slow payers.

FACT: Some single service projects may be slow pay, but recurring service or supply contracts pay relatively quickly after initially being set up. Some federal governmental contracts paying for recurring monthly invoices remit payment within 15-20 days.

MYTH: Financing government contracts is not safe.

FACT: Though most lenders do not understand governmental contract financing, they are a safe kind of receivables to finance.

MYTH: Financing government contracts has too much red tape.

FACT: Financing governmental receivables does have a number of rules and procedures associated with it which is why many lenders won’t finance them. There are experts who know how to work the paperwork so governmental contractors can be financed.

MYTH: No one can loan money against Medicare and Medicaid accounts receivable.

FACT: There are a few lenders who will lend against Medicare and Medicaid receivables. Contact us for more information.   The US government has a very special law that makes it relatively easy to finance US Governmental Contracts. This is known as the “Assignment of Claims Act of 1940” it protects the financing source while providing for ways for financing sources to help small businesses serve the US government. State contracts can be financed, but a little harder due to:

  • State governments don’t have a law that protects the lender such as the US Gov does.
  • State governments can have a number of “offsets that financing sources don’t always feel comfortable with.

There is plenty of financing available. For more information   download our detailed presentation from Slideshare that provides more detail on financing governmental contracts.

We have financed over $150 million in U.S. and state government contracts in the last 18 years. If you have questions, contact us for more information online or call us at 512-990-8756.

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Boosting your brand and sales through Podcasting http://bfs-usa.com/boosting-brand-sales-podcasting/ http://bfs-usa.com/boosting-brand-sales-podcasting/#respond Wed, 14 May 2014 17:13:57 +0000 http://bfs-usa.com/?p=1003 Have you tried podcasting?  Maybe you should. Podcasts are a booming business. From business gurus to comedians, podcasting has become a favorite marketing and communication tool for millions worldwide. Actually the number of podcast fans has crossed the billion mark. Last July, Apple announced they reached their one billionth podcast subscriber on iTunes. From business […]

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Have you tried podcasting?  Maybe you should.

Podcasts are a booming business. From business gurus to comedians, podcasting has become a favorite marketing and communication tool for millions worldwide. Actually the number of podcast fans has crossed the billion mark. Last July, Apple announced they reached their one billionth podcast subscriber on iTunes. From business to philosophy and everything in between, there are podcast topics available for all types of interests—and customers. Business owners and marketers have discovered that podcasting is an intimate, effective and affordable way to reach their customers to boost brand loyalty and sales.

Thomas UmstattdJoin us as we explore how to start podcasting for your business and what it takes to create a podcast. This month our guest Thomas Umstattd, a local business owner and podcaster will share with us his secrets on how to be successful in podcasting. He will coach us on to use podcasting as a  low-cost marketing tool to become a thought leader in your industry, to boost your brand’s awareness and increase sales in the process.

Our guest speaker:
Thomas Umstattd,
co-host of Novel Marketing and CEO of Castle Media, LLC in Austin, Texas

Thomas Umstattd first started podcasting in 2007. In 2009 he started AuthorTechTips.com, a website to help authors use the web to promote their books. The site was twice featured in Writers Digest as one of the 101 most helpful websites for authors. AuthorTechTips.com is now AuthorMedia.com, a resource for authors timid about technology. He now co-hosts the podcast “Novel Marketing” with bestselling author James L. Rubart.
Thomas currently serves as the CEO of Castle Media Group LLC. He sits on the board of directors for several nonprofits, including Texas Alliance for Life, and Hope Connections Pregnancy Resource Center. He is active in his church and in the Austin Rhetoric Club which he helped found in 2004.

You are invited to hear Thomas present:

“Boosting your brand and sales through podcasting”

Thursday, May 22, 2014

Noon

Sherlocks Pub on Burnet Road

If you know a business owner or author looking to grow their sales, please invite them to this free meeting and unique business education forum.
Invite an entrepreneur and reserve your seats today.

BFS Meet-up Pod casts

Meetup Registration: http://www.meetup.com/Austin-Small-Business-Gorilla-Operations-and-Finance-Jungle/events/182931922/

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Beverage Financing Programs Keep Your Products Flowing http://bfs-usa.com/beverage-financing-programs-keep-your-products-flowing/ http://bfs-usa.com/beverage-financing-programs-keep-your-products-flowing/#respond Thu, 08 May 2014 15:00:00 +0000 http://bfs-usa.com/?p=974 Alcoholic beverage companies often have difficulty finding financing for growth There is a new breed of wine, craft beer and distilled beverage maker in the United States. They share a number of common characteristics. Many are virtual. They are passionate about a specific type of beverage and with the help of many outsourced services bring […]

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Our financing program for wine beverage creators that use co-packers is ideal for growth without taking on additional equity.

Our financing program for wine beverage creators that use co-packers is ideal for growth without taking on additional equity.

Alcoholic beverage companies often have difficulty finding financing for growth

There is a new breed of wine, craft beer and distilled beverage maker in the United States. They share a number of common characteristics.

Many are virtual. They are passionate about a specific type of beverage and with the help of many outsourced services bring it to market. They use flavor experts to help them develop a specific taste. They use contract marketing folks to help them build their brand and labeling. Experienced wine makers like Crown Valley Winery near St. Louis co-pack their product and often provide other services. The new breed of beverage companies have very few employees and low fixed costs of operations.

Traditional financing sources don’t want to finance these companies because of a number of factors. First, most types of government insured loans are not available to companies that derive over 50% of their revenues from sale of alcoholic beverages. Second, commercial banks shy away from these “virtual” beverage companies because they typically don’t have hard collateral like equipment and real estate. Lastly, time in business is usually not long enough to interest traditional financing sources. Lastly, if a bank needs to foreclose on an alcoholic beverage company, they don’t have a liquor license to be able to sell any inventory that is left.

It often takes alcoholic beverage company a year or more to perfect their taste and enter the market. The second year is usually break-even at best. It typically isn’t until the third year from inception that an alcoholic beverage maker starts showing profits.

Alcoholic beverage companies are very attractive to a certain type of commercial finance company.

Business Finance Solutions, along with several beverage co-packers and put together a financing program that turns the negatives of traditional financing methods into positives.

We can help with:

  • Financing inventory (some conditions apply).
  • Financing raw materials, even those coming from outside the United States.
  • Financing glass bottles, caps, and other materials.
  • Finance accounts receivable from distributors and retail establishments

Helping alcoholic beverage companies overcome seasonality.

We currently finance a number of alcoholic beverage companies that have a high degree of seasonality. For premium wine distributors the high season is October, November, and December. January and February are their lowest two months.  Some types of beverages sell best in warm summer months and slow down in the Winter. Our financing program helps alcoholic beverage companies smooth out cash flow while allowing the financing to rise and fall with the natural sales cycles of your beverages.

Our staff of finance experts understands the alcoholic beverage industry. If you would like to know more about our various programs and how they can be customized to your specific business, please call us @ 512-990-8756 or complete our online form. One of our staff will contact you as quickly as possible.

Download flyer describing our alcoholic beverage financing program for manufacturers
(click on text above or image to download program flyer) Click on image to download our PDF flyer describing our wine, beer, and distilled spirit financing program for manufacturers.

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Texas Oil and Gas Production Reaching Worldwide Records- 2014 http://bfs-usa.com/texas-oil-and-gas-production-reaching-worldwide-records/ http://bfs-usa.com/texas-oil-and-gas-production-reaching-worldwide-records/#respond Sat, 03 May 2014 15:00:00 +0000 http://bfs-usa.com/?p=934 Texas oil and gas production could last decades Texas oil and gas production could last for decades. No one really knows for sure but many experts believe it could last for decades. According to a TIME Magazine article, “For all the attention paid to the Bakken in North Dakota and the rising Eagle Ford in South Texas, it’s […]

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As of April 2014 there were 885 drilling rigs operating in Texas accounting for nearly 1/2 of all rigs in use in the United States.

As of April 2014 there were 885 drilling rigs operating in Texas accounting for nearly 1/2 of all rigs in use in the United States.

Texas oil and gas production could last decades

Texas oil and gas production could last for decades. No one really knows for sure but many experts believe it could last for decades. According to a TIME Magazine article, “For all the attention paid to the Bakken in North Dakota and the rising Eagle Ford in South Texas, it’s the reliable Permian — which has already produced 29 billion barrels of oil — that has the most room to grow. “There’s more drilling activity going on in the Permian Basin today than ever before,” says Mitch Mamoulides, Midland-Delaware basin manager for Chevron North America.”

Texas oil and gas production more than all OPEC countries except Saudi Arabia

Texas Oil and Gas Production has increased three fold since 2011. During the spring of 2011 Texas was producing 1.35 million bpd. In April 2014 the state is close to 3 million bpd. Texas has not seen this level of production since 1977.

Texas is ahead of OPEC giants like Kuwait, Qatar and is close to passing Iran in monthly production volumes. According the the U.S. Energy Information Administration (EIA), Texas could surpass China’s oil production by the end of the year. That would be a cool 4.5 million bpd.

With no slowdown on the horizon, Texas keeps nearly 1/2 of all the drilling rigs in the U.S. busy. According the Baker Hughes Rig Count, in April 2014, the average number of rigs being used in Texas was 885. The total across the U.S. was  1,825. Clearly Texas oil and gas production is in full boom mode.

Texas oil and gas operators have best technology in world

According to Dale Nijoka, Ernst & Young’s global oil and gas leader, technology used in Texas oil and gas production has made more leaps than the cutting edge technology coming out of Silicon Valley. As recently as the early 1980s many wells drilled did not produce much oil and gas, if any. Today it is the exception to hit a dry hole. Technology has affected every aspect of energy exploration and production. It is safer, more environmentally friendly and much more efficient than every before.

Because the stakes are so high, technology and new methods of finding and extracting oil and gas are making dramatic improvements on a month by month basis.

Impact of small oilfield service companies on Texas oil and gas production

Technology is helping small and mid-size companies cash in on the Texas oil and gas production bonanza. Knowledgeable industry experts say as many as 30 subcontractors may be involved in working on a single well. These include land clearing companies, site preparation, security, water hauling, drilling crews, wireline crews, roustabout companies, crude oil haulers, caterers, and suppliers of the many materials it requires to take a well through the entire process.

Many of the small and mid-size companies require working capital to finance their accounts receivable as many giants in the industry take 50, 60, 0r even 90 days to pay.

Business Finance Solutions provides multi-asset financing for small and mid-size oil and gas service companies, not just in Texas but across the United States, Canada, and Mexico. If your company is a small or mid-size service company working for giants like Chesapeake Energy, Weatherford, EOG, or Exxon Mobile give us a call at 512-990-8756. We can help you grow profitably by providing working capital to keep your company well oiled for long-term growth.

 

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The story of two Austin beverage companies and one food broker http://bfs-usa.com/story-two-austin-beverage-companies-one-food-broker/ http://bfs-usa.com/story-two-austin-beverage-companies-one-food-broker/#respond Wed, 09 Apr 2014 23:16:27 +0000 http://bfs-usa.com/?p=903 Austin Beverage Companies take big steps - Austin, TX attracts more that it’s fair share of start-up businesses than other urban centers in the United States. The great weather, live music and pro-business attitude of this town provide a fertile incubator for smart entrepreneurs with new ideas for food and beverage products.  At this month’s […]

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Austin Beverage Companies take big steps -

red bottling machine at wineryAustin, TX attracts more that it’s fair share of start-up businesses than other urban centers in the United States. The great weather, live music and pro-business attitude of this town provide a fertile incubator for smart entrepreneurs with new ideas for food and beverage products.  At this month’s meeting of the Austin Small Business Gorilla Operations and Finance group we are pleased to host the CEO’s of two beverage companies and a food brokerage agency for a tell all panel discussion on how to break into big retailers like Central Market, HEB and Whole Foods.

True Stores of how they got into HEB and Whole Foods
Thursday, April 24, 2014  11:30a – 1:00p
Sherlock’s Pub and Grill
9102 Research Blvd., Austin, TX

Join us as we chat with two local beverage companies owners and hear how they got their products into the very competitive beverage aisles at HEB and Whole Foods.  We will also interview a food broker who will share some tips and secrets on to create successful retail relationships.

Join us for a panel discussion with the founders and CEO’s of Pure Rain Water and Beatbox Beverages (wines) and QuinnEssential Natural Food Broker, to discuss how to take your food or beverage products to major retailers.

We will discuss:

  • • the ramp-up and application process,
  • • labeling and packaging requirements,
  • • costs and fees, and
  • • how to successfully maintain and grow your retail distribution.

We are fortunate to have a distinguish panel of Austin entrepreneurs with us this month. Come by and meet them.

Our panelist are:

Laura Quinn, QuinnEssential Food Brokers

Laura Quinn, CEO – QuinnEssential Natural Food Brokers

Laura Quinn, QuinnEssential Natural Foods Broker

A Houston native, Laura got to Austin in 2005 and started a new career in food sales with White Mountain Foods. After about a year, she left to form her own independent food brokerage business focused on natural and organic foods and beverages.  Today her food brokerage agency boasts an impressive client list including: Third Coast Coffee Roasters, Sweetish Hill Cookies, Nada Moo, and many other natural foods and beverage that she has successful placed in Wholefoods, Sprouts, Central Market, Natural Grocers and other fine retailers throughout Texas, Oklahoma, Louisiana, and Arkansas.

Justin Fenchel, CEO

Justin Fenchel, CEO – BeatBox Beverages

Justin Fenchel, CEO – BeatBox Beverages

After graduating from college with an economics degree, Justin worked in financial services for companies like Countrywide Financial and Bel Air Investment Advisors. Soon afterwards, his entrepreneurial spirit took over and he co-founded a start-up called Flying Penguin and published two iPhone applications before deciding to attend business school at the McCombs School of Business where he received his MBA in 2013. Justin then founded  BeatBox Beverages, a hip wine beverage conveniently packaged in a box – a very popular party refreshment among millennials.

 

 

Laura Pressley

Laura Pressley, CEO – Pure Rain Water

Laura Pressley, Ph.D., CEO  Pure Rain Water

A longtime Austin resident, Laura is an entrepreneur, a scholar and a local civic leader. Laura has an impressive resume of accomplishments including a Ph.D. in Chemistry from UT, four (4) US patents, co-author of over 20 technical papers and an impressive high-tech career with positions at Motorola, AMD, Spansion and Freescale. Today, she dedicates her time and passions to the success of her beverage company, Pure Rain, Purified Rain Water, which is sold in Whole Foods, Central Market, Peoples Pharmacy and other retailers.

 

 

Attention: Austin Beverage Companies

If you are an Austin foodie, craft brewer or home brewer interested in taking your products into full scale retail production, you need to attend this free meeting. Our panel experts have taken their Austin beverage companies from the product concept stage to the commercialization of their special beverage formulas. Their business stories are entertaining, true, and most importantly very relevant and exactly the information that aspiring other Austin beverage companies need to hear. However, this meeting is not limited to Austin beverage companies, all food product companies will benefit from this entertaining conversation with our guest speakers.

Please RSVP to this meeting on our Meetup platform at this link: http://www.meetup.com/Austin-Small-Business-Gorilla-Operations-and-Finance-Jungle/events/176047082/

If you know someone interested in launching a food or beverage product, please invite them to this free meeting and unique business education forum.

See you there -

P.S.  If you need financing for the operations of your Austin beverage or food company please call us at 512-990-8756.

 

 

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UCC Filings: Tips for Business Owners http://bfs-usa.com/ucc-filings-tips-business-owners/ http://bfs-usa.com/ucc-filings-tips-business-owners/#respond Sat, 22 Mar 2014 02:19:42 +0000 http://bfs-usa.com/?p=880 Why UCC Filings are important to business owners? Most businesses will borrow money or open lines of credit at some point in the life of their business. All business owners should have a basic knowledge of the types of UCC filings  most often used by lenders, because having a UCC Financing Statements filed against your […]

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Why UCC Filings are important to business owners?

Most businesses will borrow money or open lines of credit at some point in the life of their business. All business owners should have a basic knowledge of the types of UCC filings  most often used by lenders, because having a UCC Financing Statements filed against your business may prevent you from borrowing money or selling your business.

What are UCC Filings?

UCC Filings: All 50 U.S. states use a UCC Financing Statement that looks like this. It can be used for a UCC-1, UCC-3, or Amendment

All 50 U.S. states use a UCC Financing Statement that looks like this.

When a bank or commercial lender makes a secured loan they file a Uniform Commercial Code ( UCC filing ) document  indicating their collateral interest in the borrower’s assets. The UCC filing is recorded with various state and local jurisdictions to protect the lender’s interests.  There are various UCC filings, however most important UCC filing form small businesses are affected by is a UCC-1 form also known as a Financing Statement.

A Financing Statement is filed to protect a lender’s security interest in a specifically named piece of collateral.  It also serves to establish the lender’s priority in case the debtor defaults or files bankruptcy. All lenders in the U.S. are required to use the same form to give public notice of their interest in certain or all assets of a business securing a debt. UCC-1 forms are filed in the secretary of state’s office in the state of the debtor’s business, however, it can also be filed in multiple states if the business is on a border or if the business has locations in multiple states. All information on a UCC-1 is public information. Many states offer online UCC searches that produce a report of all your UCC filings for a small fee .

Before a lender makes a secured loan in which it intends to file a UCC-1 form, it does a lien search to make sure there are no other UCC-1s filed against the piece of collateral being financed. If several lenders have filed UCC-1s against the same piece of collateral, the one that shows the oldest file date/time stamp on it is considered the 1st lien. Priority of a lien is determined by the date/time it is received at the Secretary of State’s office. Unless negotiated in advance, a lender generally will require it to be in the first lien position. Depending on the type of financing, a lien may be filed against a very specific asset (i.e. piece of equipment with serial number), or it can be what is known as a blanket assignment. A blanket assignment is one in which the lender has named all of a company’s assets as collateral for the debt.

When a UCC-1 is terminated by a lender it is done so with a UCC-3 form. Once a UCC-3 has been filed by a lender the collateral securing their loan is released and cleared from obligations.

How often should I review my UCC Filings?

Business owners should review all UCC filings once a year. The reason is there should be no surprises when a business needs to borrow money or wants to sell its ownership. It is not unusual for it to take several weeks or months to get a former lender to terminate their interest in their UCC-1 after a loan has been paid off. The most difficult cases arise when a bank or lender is sold to another lender and the new lender doesn’t have any records of ever making the loan, or . It is not unusual for a bank to refuse to terminate a UCC-1 from the previous lender whom they acquired loan until they have researched the loan, found all the supporting documentation and feel comfortable that all interest in the collateral can be released. It can be frustrating process for a business owner to get a UCC terminated, and often will need the assistance of a finance consultant or banking expert to help with the termination process.  Our best advice, is to get UCC-1’s terminated by a lender as soon as the loan is paid off and to keep good records to avoid surprises later.

Top three things to know about UCC Filings

1. It is not unusual for a material supplier to file a UCC-1 Financing Statement. This is often a condition to receiving trade credit. Somewhere in the fine print of the credit application a business will give the trade supplier the right to file the UCC-1. This type of fine print is also found in credit applications of some commercial credit providers. Before you sign a credit application from a material supplier or commercial finance company make sure you know if it gives the other party the right to file a UCC-1.

2. UCC-1 Financing Statements are valid for 5 years unless “continued.” If your business has a twelve year loan, your lender will often renew or continue the UCC filing every several years. Each new continuance of the UCC-1 Filing will extend the length of the filing for another 5 years. Lenders will also amend UCC filing statements from time to time to update information like address, guarantors, and collateral. Good record keeping will help you remember when to review and request teminations of  UCC filings.

3. Once your business pays off a loan to a secured lender you should immediately ask them to terminate their UCC filings. Most lenders will not automatically do this. You need to request this in writing to assure that it is done promptly. Most states charge a nominal fee from $10.00 to $15.00 for terminating a UCC-1 Financing Statement. Normally the lender that is terminating the UCC pays the fee.

In conclusion, the more aware a business owner is about the financing process the better they will be able to manage their business. Your CPA or financial adviser should be able to guide you through the borrowing process.  If you have any questions about your current business financing or need to establish new lines of credit, equipment financing, restructure your current debt or apply for a new business loan, you are welcome to call us for a free and confidential consultation.  Business Finance Solutions has funded over $400 million in loans for our clients across the country over the last 20 years.

For more UCC filings information or a private consultation, please contact our Banking Expert: Sam Thacker at 512-990-8756512-990-8756.

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Meet the Lender: St. Louis, MO http://bfs-usa.com/meet-lender-st-louis-mo/ http://bfs-usa.com/meet-lender-st-louis-mo/#comments Wed, 12 Feb 2014 23:52:38 +0000 http://bfs-usa.com/?p=833 Meet the Lender in St. Louis: A Special Event for Local Businesses.   Business Finance Solutions will be hosting a “Meet the Lender” event for businesses in the St. Louis metro area on February 17-18, 2014 On Monday and Tuesday, February 17th and 18th, machine shops, manufacturers, packaging and assembly, industrial, apparel and other business […]

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Meet the Lender in St. Louis:
A Special Event for Local Businesses.  

Business Finance Solutions will be hosting a “Meet the Lender” event for businesses in the St. Louis metro area on February 17-18, 2014

On Monday and Tuesday, February 17th and 18th, machine shops, manufacturers, packaging and assembly, industrial, apparel and other business services companies in the St. Louis metro areas are invited to “Meet the Lender”.   We have arranged to have a representative of a key lender visit this area and review business loan opportunities.  We have millions of dollars reserved for funding business owners in the St. Louis trade area.  Our executive staff will be taking appointments in St. Charles and St. Louis  to discuss your working capital needs and accept business loan applications.  We will review all loan applications immediately and funding decisions will be made within 72 hours of receiving completed loan packages.

Meet the Lender – By Appointments Only

  • Monday, February 17, 2014 – St. Charles, MO
  • Tuesday, February 18, 2014 – St. Louis, MO

All appointments are private confidential one-on-one meetings.  Please call Carol to schedule your appointment.  512-646-1144

What types of businesses are encouraged to attend our “Meet the Lender” event in St. Louis, MO

Factoring in St. Louis, MO

Meet the Lender in St. Louis, MO

Business Finance Solutions has organized this event for industrial, manufacturing, trade and specialty service companies .  If you own or operate a business to business goods or services company in the St. Louis metro area, please call to make an appointment.  We want to talk to any business in the following fields:

  • Trucking, Shipping, or Rail transport
  • Water or Materials Hauling
  • Industrial or Heavy Equipment
  • Welding or Machine Shops
  • Manufacturing or Assembly
  • Pipe and Pipeline
  • Pumps or vacuum technology
  • Tanks and Storage
  • Sand, gravel, and materials
  • Industrial instruments and equipment
  • Apparel or Accessories Manufacturing or Wholesalers
  • Food or Beverage Manufacturing
  • Engineering, Geology or Professional Services
  • Fire and Safety or Training services
  • Security Staffing
  • Commercial business services or related businesses based in the St. Louis metro area

We have millions reserved to fund lines of credit in the St. Louis metro area.  If you are a business owner looking for working capital to operate or expand you company, please call us.  Limited appointments are available, so please call Carol Crangle, our Customer Service Manager, to schedule an appointment with our finance experts for Monday, February 17th, or Tuesday, February 18, 2014.  Ms. Carol Crangle:  512-646-1144

Why work with Business Finance Solutions (BFS):

We specialize in small to mid-size business financing, loans, lines of credit and factoring.  We offer some of the most competitive terms anywhere.

  • BFS has funded over $400 million dollars to American businesses
  • BFS will finance all types of businesses from start-ups, to rapidly growing companies, to mature companies
  • BFS will finance almost any business to business company
  • BFS will finance leverage buy-outs and re-capitalization deals
  • BFS offers non-recourse loans
  • BFS works on DIP financing deals (Debtor in Possession or Bankruptcy Chapter 11 deals)
  • BFS offers free quotes and term sheets
  • BFS secures account approval within 48 hours
  • BFS expedites funding and offers overnight payments
  • BFS secures short-term loans from 7 days to 60 days
  • BFS can secure business loans from $50,000 to $50 million dollars

CALL  512-646-1144  today to schedule your private meeting. There are a LIMITED number of appointments are available 

For more details or a private consultation at your convenience, please call Carol at: 512-646-1144.

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