Evan Hydon
A family owned and operated business. We offer cost-effective working capital & personalized services to ensure customers goals of growing their businesses. REIL Capital provides instant business financing. Get quick online business funding with us. For more info on the best small business loans, visit our website or call now!
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Having a commercial vehicle is common in many industries. In some, it is an absolute necessity. Depending on the industry, commercial vehicles can be used for almost anything and everything. For example, transporting goods to a point of sale, moving equipment to aid in a job or project, or simply to transport people. No matter what you use a commercial vehicle for, there are a few things that all trucks have in common that consumers should be aware of.
First off, there is the price factor. Commercial vehicles can be an expensive investment for your business. The most common commercial van on the road today is the Ford Transit. Currently, the MSRP for a ford transit is just under $25,000. However, the final price that you pay will most likely be much higher due to costs associated with specializing the vehicle to suit your needs.
Similarly, another popular commercial pickup truck on the market today is the Ford F-150. The MSRP for a new F-150 is right around $28,500. Nonetheless, this is most likely not going to be the final price you will pay either. If you are in the transportation business, new semi-trucks can be extremely expensive, ranging anywhere from $80,000 to $150,000. No matter what type of vehicle your business needs, it is going to be a very large investment that can quickly eat up the capital that your business has on hand.
The second factor that each commercial vehicle has in common is the depreciation value. On average, vehicles depreciate about 10% within the first month that they are bought. This is depending on how often you use the vehicle, which could be a lot more. This means that the new shiny truck that you just bought will only be worth a fraction of what you paid for it in a matter of months. Despite the obvious downside of depreciation, it may be necessary for your business to purchase vehicles because of the nature of the work that you do. Purchasing a new vehicle can be a very costly investment, however, there are a few financing options out there to ease the burden.
One option you might consider is equipment financing. Equipment financing allows you to purchase new equipment by putting up 50% of the purchase price. You can use equipment financing to place a lien against your company’s already owned trucks and transport. This enables business owners the ability to recoup up to 50% of the initial purchase price. Equipment financing generally has short terms. The terms typical last 8-18 months, and generally take about 2 weeks to fund. To qualify for equipment financing, you must have been in business for at least one year and have a credit score of at least 650.
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Another option to consider is a Business Line of Credit. Let’s say that you have recently purchased a new truck. The financing for the truck has left a large gap in your business’s monthly cash flow. Sometimes, unexpected expenses may come up that you are not necessarily prepared to pay for. A truck may break down, or the cost of gas may inflate. A line of credit is a flexible financing option that can help you to pay off these expenses as they come up. A line of credit works similar to a credit card in which you only pay off what you spend. This is perfect for business managers who know how to manage money well and don’t want to hurt their business as unexpected costs come up.
If you’d like to know more about any of these types of funding, get in touch with REIL Capital now! Call 888-601-REIL, send an email to customerservice@reilcap.com.
A commercial vehicle is a tool of your trade just like any other piece of equipment that you use. Trucks are necessary to get jobs done. Yet you don’t want to let the purchase of a new commercial vehicle impact your bottom line. Here at REIL Capital, we are business owners just like you. We understand the importance of having a reliable commercial vehicle. We have custom-tailored financing options to help you get the vehicle you need. If you want to see how we can help you purchase your next vehicle, fill out our commitment free application today.
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We often establish power and status in our society by how many pieces of green paper a person has. Simply put, “money makes the world go ‘round.” Have you ever wondered: How do we actually determine the worth of this tangible object? Who does it? Why does this thin piece of paper equate to X amount of value? Below, we will discuss how the government and our society assesses the value of the money in your pocket, and why.
1. Foreign Exchange Rates
Just like goods and services, the value of money is determined by the demand for it. One way money can be measured is by comparing currencies to different Foreign Exchange Rates. The Foreign Exchange Rate determines how much money one countries currency equates to in another countries currency. The exchange rate between countries fluctuates on a daily basis and varies greatly based on the currency. The most popular exchange rate for measuring the value of the U.S dollar is comparing it to the Euro. The Euro is used by countries in the European Union.
Currently, the Euro is slightly stronger than the US dollar with an exchange rate of around 0.9. This means that $1 would exchange for €0.9, but on any given day $1 can only get you €0.88 or €0.85. While the dollar may not be worth as much like the Euro, there are many currencies that are weaker than the dollar. For example, the Mexican Peso. Currently, one US dollar is worth about 19 pesos, meaning that you can get more with your dollar in Mexico than in Europe. It is important to be aware of these currencies, should you ever leave the country for business, vacation, or studying. REIL Capital is able to fund businesses in all 50 states in the USA, as well as Canada.
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2. The Value of Treasury Yields
Exchange Rates are important for understanding the value of the dollar in foreign markets. However, the value of Treasuries can help you to better understand the dollar’s domestic value. Treasury Bills, Notes, and Bonds are types of Treasuries the government issues that yield a return over time. Treasuries are considered low-risk investments because they are backed by the federal government. For example, people who purchase Treasuries are loaning money to the government. In turn, the government disburses fixed-rate interest payments to these bondholders as compensation.
Treasuries are sold at a discount of their face value. When they mature, the bondholder receives the full initial face value of the treasury. If you hold onto a treasury for the full life of its term, you will receive the full face value plus any interest that was paid over the life of the bond. The value of Treasuries, specifically Treasury Notes, is a good indication of the real value of the dollar. They can easily be liquidated in the secondary market for Treasuries. Read here about USDA Business And Industry Loans.
3. Foreign Exchange Reserves
Another way to determine the value of the dollar is by being informed about the Foreign Exchange Reserves. Foreign Exchange Reserves hold the money that each country seeks to prevent from circulation in their central bank. Foreign Exchange Reserves work by having the country’s exporters deposit foreign currency into the central bank and then exchange them for the local currency. The more money in the central bank, the less money that is in circulation. Thus, the value of money in circulation is higher.
How Does This Affect You?
The value of money affects you every day. Unknowingly, consumers confirm the value of their dollar every day when they buy different products and services. They chose which products are inelastic, such as insulin, and those that are not worth their dollar, such as McDonald's. Sellers in return create their prices based on consumer demand and value. This means that when the value of the dollar decreases, sellers will pass off their additional costs to you so that they maintain the same amount of profits.
Nonetheless, knowing the value of the dollar will save you money and prevent you from being taken advantage of. Protect the value of your dollar and yours as a consumer by becoming more knowledgeable about your money.Read some more of our articles here, to learn more about your money’s value and how REIL can help you properly use and invest it.
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Many business owners struggle to get enough financing to run their small business – that trouble is amplified when the owner has bad credit. According to FICO, people with credit scores between 300 to 629 are considered to have “bad credit”. Many factors go into determining one’s credit score, and repairing a poor credit score can take years to do. A poor credit score can affect one’s ability to attain working capital for their small business tremendously because borrowers with a low credit score are generally seen as more high risk in terms of defaulting on a loan. Luckily, not all hope is lost, there are still options out there for small business owners with low credit.
If your company uses invoices as a method of receiving payments, you can use invoice financing or invoice factoring to gain working capital for your business. Invoice financing is capital that is forwarded to you based on your business’s accounts receivable. You can get funding of up to 90% of unpaid invoices in as little as 3 days. Invoice financing is not only convenient for business owners who have bad credit scores, but also for businesses who need funding immediately and cannot wait for outstanding invoices to be paid. After all, your business has already provided the service, it is only fair you get paid. Check more about Quick Invoice Financing https://reilcap.com/products/invoice-financing/
Even if you have bad credit, you still may qualify for a merchant cash advance. Here at REIL Capital, we can work with anyone who has a credit score over 450 to secure business financing.
A cash advance is the quickest and easiest financing solution for small businesses. Businesses receive a lump sum, usually between 80% – 120% of your monthly revenue. This capital is repaid using your daily credit card sales or a fixed remittance from your business bank account. This is the perfect option for businesses that have a large amount of monthly revenue coming in but don’t necessarily have a good enough credit score to secure a term loan or SBA loan. Cash advances are also very flexible, ranging in funding amount from $10,000 to $500,000 and terms from 4-18 months. A cash advance is also one of the quickest ways to receive capital for your business, with funding in as little as 24 hours. To qualify for a cash advance you need to have been in business for at least 6 months and have at least $8,000 in monthly revenue. Read here about Easy Merchant Cash Advance https://reilcap.com/products/merchant-cash-advance/
If you don’t have the best credit score, but your business currently owns a lot of assets, you may be able to qualify for asset-based lending. Asset-based lending allows businesses to secure financing for their business by using their currently owned assets as collateral for the financing. If your business owns property or equipment worth a considerable amount of money, this property can be used as a down payment on the loan. The property in question will need to be appraised and can help to secure your business between $50,000- $ 2,000,000. Asset-based lending can get your business the funding that it needs in as little as 2 weeks.
At REIL Capital, we are small business owners just like you. We understand how difficult it can be to secure financing, especially with less than stellar credit. Once again, we can help small business owners who have a credit score as low as 450. If you want to see how we can help your business gain working capital, fill out our commitment free application today.
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Merchant cash advances are a useful finance solution for small businesses that are seeking extra working capital. Why not go to a bank? Merchant cash advances are faster, simpler and more convenient. Unlike bank loans which can take months to fund and require extensive paperwork, a merchant cash advance does not require collateral or a great credit score. Avoid the long and difficult application process of a bank and join the current trend. At REIL Capital, to qualify for a merchant cash advance you need:
• 6 months in business
• A 400 minimum credit score
• $8,000 in monthly revenue
A merchant cash advance is an upfront sum of cash in exchange for a slice of a business’s future sales. REIL can usually forward a company 80-120% of their monthly revenue into a cash advance. The merchant cash advance is then repaid over a span of 4-18 months.
Merchant cash advances are faster, simpler and more convenient.
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MCA’s are beneficial for companies in need of short-term capital. At REIL we provide funds to our clientele within 24-48 hours. Your need is urgent, so we make sure our solution is prompt. Our company prides itself on our family culture and style. Whomever you initially invest with is the sales representative that will work for you for the life of the deal. This method culminates a great employee clientele relationship.
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As of 2017, 7% of small employer firms in the US applied for a Merchant Cash Advance. Meanwhile, only 4% applied to factor. Merchant cash advances are taking the industry by storm with fast and quick approvals. Business owners are enticed by the quickness, logistics, and immediate solution merchant cash advances provide. Get on board and apply for an MCA with REIL Capital today.
To learn more about MCA’s, be sure to check out our product page or apply now!
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Small business owners may be skeptical of the new wave of business financing options that have been trending as of recently. If you have ever looked up “business loans”, “working capital” or “small business financing” online, you may have come across a new breed of business lenders that are not traditional banks known as alternative lending brokerages. Alternative lending brokers often seem mysterious and somewhat risky when compared to traditional lenders like banks. But fear not – many alternative lenders are business owners just like you, and truly want to help your business (and make some money in the process). Working with an alternative lender may actually be more beneficial to your small business than working with a traditional lender such as a bank. It’s extremely important to find a team you can trust, that offers transparency and service and treats your business the way you want it to be treated.
Your business may have come across an alternative lender if your business had previously been denied funding from a traditional lender such as a bank. Banks have a strict process for qualifying businesses for loans that are often very hard to follow. This means many businesses may not meet the criteria to qualify for any bank financing. On the other hand, alternative lenders may be more willing to work with businesses that banks consider too risky. Some alternative lenders even specialize in industries that the finance industry as a whole consider risky such as construction and automotive sales. An alternative lender that is willing to work with you can help your business to get the working capital that it needs.
Another benefit of working with an alternative lender is the speed in which they provide funding. Alternative lenders generally work much faster than traditional banks, and this can be very beneficial to small business owners who need the funding immediately.
Let’s say that you own a liquor store – it’s Wednesday and you need to place an order for products by Friday of this week in order to receive them on time. The order will cost you $30,000 to order, but you will make over $50,000 off of the products sold. You try to go to a bank, but they say the earliest they can get you funding is 2 to 3 weeks! If you work with the right alternative lender, they may be able to get you the funding you need the same day that you apply. The funding process with alternative lenders is also much simpler than it is with traditional banks. Generally, the only thing they require to underwrite a file is an application and your three most recent months of bank statements, saving you time and stress.
One of the biggest advantages of working with an alternative lending brokerage is the fact that they can get you multiple financing offers. If you decide to contact a traditional bank to secure funding for your business, you’ll go through the long and grueling process of applying, and you may be lucky if you qualify and get a single offer. Banks will offer you one take it or leave it an option, which is generally more beneficial to the bank than it is to the business. By working with an alternative broker such as REIL Capital, you have the ability to compare multiple funding options from lenders who oftentimes will send competing offers. The broker can then leverage those deals against one another to get your business a financing deal with the best terms possible for your business. Alternative lending brokerages only make money if your deal actually funds, so they will work with you to get you the best deal that they can possibly get you.
In conclusion, there are a lot of financing options for your small business out there, both traditional and alternative. Here at REIL Capital, we take pride in our customer service and are committed to finding you the best deal possible. If you want to find out more about how we can help your business get the financing it needs, fill out our commitment free application here.
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At REIL Capital, we talk to real small business owners every day; they tell us all about their successes as well as the difficulties they’re having. One of those difficulties we hear about over and over again is funding problems. Whether we like to think about it or not, cash is king in today’s competitive business environment and small business owners are under the most pressure of all. To a small business owner, having access to the capital they need to take care of everyday expenses like payroll, supplies, and bills can mean the difference between staying in business and giving up on their dream. Unfortunately, loans aren’t always easy to get, especially for business owners with poor credit scores. Luckily, there’s another option to get a little working capital that doesn’t rely solely on your credit score. Here’s some information about merchant cash advances and how they differ from traditional bank loans.
When you’re a little short on cash for the month, a merchant cash advance may be exactly what you need. It works by allowing you to borrow based on the strength of your monthly revenue. Typically, you can borrow a lump sum amounting to about 80%-120% of your monthly revenue; in exchange, you’ll agree to pay a percentage of your daily credit and debit card sales (or a daily fixed amount) over a term of 3-18 months.
There are a number of reasons why small business owners rely on merchant cash advances to take care of their day-to-day expenses. They differ from traditional bank loans in lots of important ways that make them ideal for the fast-paced world of small business.
· Fast and Easy Access to Capital – When you go to a bank for a loan, it could be months before you actually have that money in your account and if your credit score isn’t so good, you may be completely out of luck. Before you get approved, you’ll have to fill out reams of paperwork, produce lots of documentation, and wait weeks and weeks. With a merchant cash advance from REIL Capital, all you have to do is fill out our application and turn in 3 months of business bank statements. If you’ve been in business at least 6 months, have a credit score of 480 or better, and have at least $8,000 in monthly revenue, you could be approved and have money in your account in as little as 24 hours.
· Non-Recourse – A merchant cash advance is considered non-recourse debt, meaning that it’s supported by collateral. If you should default, you won’t be liable to repay any amount above the value of the collateral. With some traditional loans, you could be liable for additional money above and beyond your collateral amount in the event of a default.
· Flexible Payment Terms – While most merchant cash advances are paid back with a daily remittance, depending on the strength of your business history and your credit score, you could be eligible for weekly payments. Payments can also be made as a percentage of credit/debit card sales or as a regular, fixed amount. In addition, you may be able to receive pre-payment terms that reduce your costs if you pay back your cash advance early.
As you can see, a merchant cash advance can be a real lifesaver for small business owners who need working capital right away. If you need money for your business and can’t afford to wait around for a traditional bank loan, get in touch with REIL Capital right away! Call (888) 601-7345, fill out our online contact form, or visit our website and chat live with a representative on your computer. Don’t hesitate; your bills won’t wait for you!
When you’re just starting out as a small business owner, your operation may be small enough that you can do every job yourself. While some entrepreneurs may appreciate having that level of control, if they ever hope to grow their business, they’ll have to learn how to let go and leave some tasks to their employees. If you’re experiencing growing pains as your small business levels up, here are a few tips from the small business experts at REIL Capital to help you delegate effectively, just like America’s top CEOs.
Choose the Right Tasks to Delegate
As a small business owner, you have two types of jobs: those that absolutely must be done by you yourself, and those that could conceivably be performed just as well by someone else. Step one of delegating is learning the difference. With menial jobs like facilities maintenance, it can be easy to tell; for other jobs like keeping the books, doing payroll, and other administrative tasks, you might have a difficult time deciding which ones actually need your personal touch. Just remember to find the jobs that make up the core aspects of your business and focus on those yourself; anything else is secondary.
Choose the Right Person for the Job
The next thing you’ll need to do is select a person to whom you will delegate. Remember that your employees are human resources, and they must be allocated effectively to get the job done right. If you’ve got a top-notch business manager on your staff, don’t let them waste time cleaning up around the shop. On the same coin, don’t assign complex tasks to someone who’s in over their head. In the early stages of your growth as a business, it may take some time to get things sorted out but remember not to micromanage; when you place your trust in your best people, you’ll find they have a tendency to rise to meet your expectations.
Communicate Effectively
You can’t expect someone to get the job done right if you haven’t sufficiently explained what you want. While it can be difficult to strike a balance between micromanagement and laissez-faire” leadership, be confident that you’ve got the right tools to administer effectively. When you assign a job, be sure to articulate exactly what you expect the outcome to be and outline the best way to achieve it. Be clear and concise in your explanation and be sure to politely address any concerns or objections before you walk away. When the job is done, give a fair assessment of the results, giving your employee encouragement for their successes and constructive criticism for their failures. While they may not do everything perfectly right away, know that they’ll fall into a groove over time, meaning you can expect more consistent results in the future.
Relinquishing control can be a Herculean task for many small business owners; after all, your business is your life. If you ever expect to find yourself among the business world’s elite, you’ll need to learn how to let go and let your employees take over the little things while you focus on the big picture. Remember that you hired them for a reason, and trust that they’ll find a way to get the job done right. Follow the tips above, and you’ll have more time to take care of the core aspects of your business, and when you see your year-on-year growth skyrocketing, you’ll know exactly why!
REIL Capital provides short term funding for small businesses. Request more info on short term business loans by visiting our website or call us today!
Now that 2019 is upon us, small business owners have the perfect opportunity to start planning their next moves. When developing your strategy for the next year, it never hurts to have a checklist you can use to go through each step in an organized and logical manner. If you’re looking ahead this year, REIL Capital can help you out by giving you a few items to add to your checklist. Thinking about these items early will help you get a jump start this year, putting you in a better position to achieve greater success in 2020. Here are three items you can add to your checklist that are bound to help you become more proactive in 2019.
Chances are, there are a few things on your checklist from last year that still haven’t been completed to your satisfaction. If that’s the case, don’t let those items carry over until the end of 2019; take care of them right now! If something’s been on your list for a long time, it was obviously important enough for you to keep it in mind. Instead of putting it off again, make those loose ends your priority for January! Once you’ve completed these left-over tasks, you’ll be able to attack the rest of the year with renewed energy!
Benjamin Franklin famously said that only two things are certain: death and taxes. Even though he said it over 200 years ago, it still holds true today. You know tax season is coming up, so why not start preparing now? The tax code changes significantly in 2018, so it’s a good idea to find out more about those changes and how they’ll affect you in April. Also, don’t forget some types of corporations must turn in certain forms ahead of the standard filing deadline, so make sure you’re on track to meet those IRS requirements.
2019 could be another year of maintaining the status quo, or it could be the year when your small business skyrockets to prominence. The difference depends on how much funding you have to achieve your goals. Even without personal capital, you can still get the money you need by seeking out small business funding. Various funding products now exist to help you get funding even with poor credit, or no collateral! If you have an immediate need for cash, business funding could be yours in as little as 24 hours! Get in touch with REIL Capital right away to find out more about your options. Our Instant Online Application takes just minutes to fill out, so don’t wait; fill out your form right now! From all of us at REIL Capital, we hope 2019 is a prosperous year for you and your business; let us know how we can help!
