Commercial Truck Financing – How is the System Structured?

First there are the captive finance companies. Think of them as the financing arms of all the major manufactures. They exist solely to provide financing to the public in an effort to sell their trucks. In the past they have been somewhat liberal in their underwriting criteria and like the mortgage industry perhaps too liberal. This relaxed underwriting of the past has caused serious defaults today. This has resulted in a subsequent tightening of credit. The end result is the selling of less trucks and trailers; customers have a harder time getting financing. Nonetheless, the captive financing company will always be part of the commercial truck financing game.Second are the independent financing companies. They are not tied to the manufactures in any way. They exist to make a profit from financing commercial trucks and other equipment. They can be a welcome alternatives for several reasons. First they can be someone to turn to if a good credit customer is “tapped out” with the captives. This means they have already financed trucks with the captive financing companies and they don’t want to do anymore for the customer (at least for now). These “A” credit sources are competitive on rate with the captives and, using different independent sources, a customer can finance an unlimited number of trucks. Independents are great for other reasons too. Say a customer wants a TRAC lease with different parameters than what the captives are offering. They can search for an independent that can tailor a TRAC lease for that customer. This is invaluable for the more sophisticated customer that has tax structure as their main objective. Here’s another one, we have customers calling us all the time that may only work nine months out of the year. They need financing that can offer skip payments. This way the customer can make nine payments a year instead of twelve; taking three months off of making their payments. One last one that hits home with us, the customer with bad credit. A captive financing company generally works only with people with good credit. For the customer with bad credit, their choices are limited. Thanks to independent financing companies (like ours) that specialize in customer with bad credit; these customers can get the financing they need to start or grow their business. Think of independent financing companies as offering financing products that can accommodate almost any need.The third financing arm for commercial truck financing is the in-house financing program. Usually offered by the smaller vendor, in-house financing offers benefits for both dealer and customer. By offering financing in-house the dealer is able to move more inventory than if he didn’t. This is important because a smaller dealer doesn’t always have a captive finance program. And with credit tightening up the independent financing companies are becoming less important. The dealer can act like an independent financing company by offering all the same products while keeping the benefits of earning interest on the trucks they sell. The bad side, of course, is they also suffer in the case of defaults where the customer stops making payments. The benefits to the customer is they have a one stop shop where they can finance a truck at the same place they are purchasing it from. Downside is they are limited to their inventory.This information will help you become a more educated consumer. By know who the players are you can better approach how to finance that commercial vehicle. Good luck!

Business Loans In Canada: Financing Solutions Via Alternative Finance & Traditional Funding

Business loans and finance for a business just may have gotten good again? The pursuit of credit and funding of cash flow solutions for your business often seems like an eternal challenge, even in the best of times, let alone any industry or economic crisis. Let’s dig in.

Since the 2008 financial crisis there’s been a lot of change in finance options from lenders for corporate loans. Canadian business owners and financial managers have excess from everything from peer-to-peer company loans, varied alternative finance solutions, as well of course as the traditional financing offered by Canadian chartered banks.

Those online business loans referenced above are popular and arose out of the merchant cash advance programs in the United States. Loans are based on a percentage of your annual sales, typically in the 15-20% range. The loans are certainly expensive but are viewed as easy to obtain by many small businesses, including retailers who sell on a cash or credit card basis.

Depending on your firm’s circumstances and your ability to truly understand the different choices available to firms searching for SME COMMERCIAL FINANCE options. Those small to medium sized companies ( the definition of ‘ small business ‘ certainly varies as to what is small – often defined as businesses with less than 500 employees! )

How then do we create our road map for external financing techniques and solutions? A simpler way to look at it is to categorize these different financing options under:

Debt / Loans

Asset Based Financing

Alternative Hybrid type solutions

Many top experts maintain that the alternative financing solutions currently available to your firm, in fact are on par with Canadian chartered bank financing when it comes to a full spectrum of funding. The alternative lender is typically a private commercial finance company with a niche in one of the various asset finance areas

If there is one significant trend that’s ‘ sticking ‘it’s Asset Based Finance. The ability of firms to obtain funding via assets such as accounts receivable, inventory and fixed assets with no major emphasis on balance sheet structure and profits and cash flow ( those three elements drive bank financing approval in no small measure ) is the key to success in ABL ( Asset Based Lending ).

Factoring, aka ‘ Receivable Finance ‘ is the other huge driver in trade finance in Canada. In some cases, it’s the only way for firms to be able to sell and finance clients in other geographies/countries.

The rise of ‘ online finance ‘ also can’t be diminished. Whether it’s accessing ‘ crowdfunding’ or sourcing working capital term loans, the technological pace continues at what seems a feverish pace. One only has to read a business daily such as the Globe & Mail or Financial Post to understand the challenge of small business accessing business capital.

Business owners/financial mgrs often find their company at a ‘ turning point ‘ in their history – that time when financing is needed or opportunities and risks can’t be taken. While putting or getting new equity in the business is often impossible, the reality is that the majority of businesses with SME commercial finance needs aren’t, shall we say, ‘ suited’ to this type of funding and capital raising. Business loan interest rates vary with non-traditional financing but offer more flexibility and ease of access to capital.

We’re also the first to remind clients that they should not forget govt solutions in business capital. Two of the best programs are the GovernmentSmall Business Loan Canada (maximum availability = $ 1,000,000.00) as well as the SR&ED program which allows business owners to recapture R&D capital costs. Sred credits can also be financed once they are filed.

Those latter two finance alternatives are often very well suited to business start up loans. We should not forget that asset finance, often called ‘ ABL ‘ by those Bay Street guys, can even be used as a loan to buy a business.

If you’re looking to get the right balance of liquidity and risk coupled with the flexibility to grow your business seek out and speak to a trusted, credible and experienced Canadian business financing advisor with a track record of business finance success who can assist you with your funding needs.

Simple Facial Skin Care Tips to Improve Your Skin

The face is of utmost importance in skin care. Facial skin care involves several aspects like care of the general facial skin (the cheek and the forehead), care of the eye-region (puffy eyes) and care of the lips (because lips have specially sensitive skin). A facial skin is generally divided into two broad regions by dermatologists. The first region or the T region encompasses the forehead, the nose bridge, the lips and the chin below the lips. The cheeks and the region beneath the eyes comprise the other main region of the facial skin.The significance of such differentiation in facial skin care regions in most evident in those with a combination skin type. A combination skin type is one of the five classifications of skin types of a face. The other four types are normal skin, dry skin, oily skin and sensitive skin. In a combination skin type, generally the T region is oily and the other region is drier and less oily. The preliminary aspects of a facial care are outlined below.* Cleansing: The skin of the face should be clean. Since face is most exposed to the weather so cleansing is a very necessary part of a facial skin care schedule. Face cleansing is usually done with face packs and cleansing milks. The face packs and the cleansing milks of the facial care can be of both cosmetic and organic origin. The skin being an extremely sensitive canvas, it actually depends upon the person to decide what type of face pack will work best for the skin. Milk is an ideal example of a fulfilling facial care cleansing ingredient. However, while cleansing it is important not to over-cleanse the skin. This is because excess cleansing can even clean away the natural oil secretions that help to naturally moisturize the skin.* Exfoliating and scrubbing: Since the facial skin is always generating a certain amount of dead cells, so exfoliating and scrubbing ensures that the skin is free from the roughness that the dead cells can cause. Face scrubs with tiny grains are more effective as they are more alike the natural grain of the face. Face scrubs with bigger grains can scrub away more than just the top layer of dead cells. Organic options like a half teaspoon of fine grained sugar and flour thrash also act as good scrubbers and are of considerable importance in facial skin care.* Moisturizing and sunscreen: moisturizing the skin is important in facial skin care whether you have normal, oily, dry, combination or sensitive skin. Water is a basic ingredient of causing softness in the skin and moisturizers (cosmetic and herbal) helps to retain this moisture onto the face. Repeated splashing of water on the skin, especially after an exposure to pollution and dirt, ensures that these harmful elements do not get the time of settling down on the facial skin. Sunscreen is an equally important aspect in facial care. Sunscreens help by screening away the harmful UVA and the UVB rays of the direct sunlight.Xtend-Life offers a variety of facial skin care products in both the men’s skincare and women’s skincare categories. The special ingredient Cynergy TK used in all the xtend-life products make the products suitable for all skin types and is especially suitable in fighting the wrinkle lines on the face. Cynergy TK works in synchrony with other active skin care ingredients, like the potent nano-antioxidant Nanobelle Q 10 to make the skin feel younger and fresher.Also, the Xtend-Life anti-wrinkle products has another special organic component called Phytessence Wakame, which is an extract of a specific Japanese Sea kelp. This component inhibits the harmful enzyme hyalurinidase and boosts the generation of hyaluronic acid in the skin to its adequate limits. This assists in making the skin much more younger.The facial skincare products in the women’s category are Age Defense active day cream, Whitening day cream, Restorative night cream, the Eye Contour Serum and the two types of cleansing and moisturizing masks. The deep Active Hydrating Mask and the Deep Active Cleansing masks are available in the men’s category as well. The other two active skincare products for men are Age Defense Active Facial Fluid and the Eye Contour Serum.