Archive for July 2018

Smartest Financing from the factoring Companies

Factoring offers an attractive addition to traditional loan financing, as it does not require the usual collateral. In addition, factoring receivables financing is extremely flexible because it optimally adapts to sales and is therefore ideally suited as growth financing. When factoring the entrepreneur sells his invoices to the factor and thus benefits from immediate liquidity directly after accounting. Even long payment terms have no negative impact on their own liquidity.

Especially medium-sized companies have significant reserves when it comes to the timely dispatch of invoices or reminders. In coordination with the company, the factor takes over the receivables management and dunning process, which improves liquidity and saves the factoring customer time and money in order to concentrate on his core business. In addition, the receivables sold are fully protected against bad debts. The default risk is borne by the factor.

The full-service factoring

As a bank-independent financial services institution, the factoring company has many years of experience in all sectors of SMEs. This makes it possible for her to offer factoring also for young companies and start-ups. This distinguishes the factoring company from numerous competitors who often offer this type of financing only to companies that have already successfully established themselves on the market for 2 to 3 years. The purchase order financing makes the process easier.

Requirements

The prerequisite for concluding a contract with a factor is a credit check conducted by the latter, which, however, differs significantly from the credit check of a bank. In contrast to the bank, which primarily examines the creditworthiness of the borrower, the focus of the factor is essentially on the examination of the receivables to be purchased,i.e., above all, on the creditworthiness of the debtor (debtor) and the quality of the receivables. The purchase volume is managed by granting a financing limit (factoring framework) that can grow in line with sales. In addition, the entrepreneur must present a viable business concept as well as a sound business plan and the total financing of the company must stand.

Factoring brings fast liquidity and is suitable:

  • As a financing alternative in crisis situations
  • As additional mass financing
  • Especially in the bankruptcy procedure and self-administration
  • To ensure continued operation in bankruptcy
  • Because it also manages in bankruptcy without additional collateral
  • Because it secures the debtor claims that are emerging in insolvency against default

The services

  • Fast provision of liquidity within 24 hours
  • Tailored solutions for our customers
  • Transparent fee model
  • All services from one source:
  • Liquidity
  • Failure protection, debtor management, etc.

Complete settlement of credit insurance obligations through the factoring company leads to a significant reduction in the burden on factoring customers

Online portal and factoring briefing with company audit

Detailed information on the benefits of factoring, the process from the request to the start of the contract as well as the factoring costs can be found in our article.

Great Opportunities for the Proper Singapore Home Loan

Today, homeowners are willing to enter into transactions that involve the use of borrowed funds by buyers. But how safe is this process, and what risks await the seller when selling a house in a mortgage?

Mortgage lending has already become a familiar tool for buying and selling residential real estate. The bank takes care of the execution of the contract, it also ensures the security of settlements. Payment is made by transferring funds to the account or using a letter of credit, which is positively estimated by the sellers. But the following moments are perceived by some homeowners as negative:

  • impossibility to inflate the value of real estate;
  • impossibility to sell a house in dilapidated or emergency condition;
  • careful checking of any encumbrances;
  • incompetence of the buyer.

To prevent these difficulties from becoming a surprise, you need to know at what stages of the transaction they may occur. As the proverb says, “is aware – it means armed.” Awareness will help the seller at home to minimize potential risks or even completely avoid them. The singapore lowest interest refinance home loan option is the best there.

Pitfalls in determining the cost

When a house is sold without the participation of a bank, its value is determined by the seller based on their own ambitions and market conditions. If you are attracting mortgage money, the technical condition of the collateral property is checked by professional experts, they also determine its actual value.

The bank is interested in the liquidity of the house, so that in case of non-repayment of the loan, it could be sold. All aspects are taken into account, including the prestige of the location and the level of infrastructure development. Wear of the house should not be more than 50%. The most trusted money lender in singapore is the best deal there.

If the seller wants to get rid of a ramshackle hut in an abandoned village – he runs the risk of losing time, because the bank is not interested in such an object. If the seller hopes that the buyer does not notice any flaws and buys a house at an inflated price, then this is also a risk, since hopes do not materialize.

Is everything OK with the documents?

Representatives of the bank check the package of documents in order to identify the presence of encumbrances. The seller should have a cadastral certificate confirming that no arrest has been placed on the house, that there are no registered relatives who could later apply for housing.

The unfortunate point is that the landlord may not know about the encumbrances. This happens when, for example, a court dispute arose earlier about the house, providing for a temporary arrest. The dispute was won and the house remained behind the seller, but the arrest has not yet been lifted. Either there are relatives whom the landlord does not even suspect.

How to Form an LLC in Nevada

Want to start a company in Nevada? If  yes, here some of the most critical steps you must follow if you want to register Nevada LLC.

  1. Choose a Name for Your LLC

As per Nevada law, an LLC must comprise the following terms:”Limited Liability Company”, “Limited-Liability Company”, “Limited Company”, “Limited”, or any of these abbreviation variations: “L.L.C”, “Ltd”, “LLC” OR “LC”. The abbreviation for the term company may be “Co”.

Your LLC’s name must be different from names of other businesses inscribed in the files of the Nevada Secretary of State. Afterward, the files will be verified for availability on the Nevada Secretary of State business name database.

By filling a Name Reservation Request form with the Nevada Secretary of State, you may reserve a name for 90 days. The application can be filled in a variety of ways including mail, online using Silver flume or mail. The filing rate is $25.

  1. File Articles of Organization

In order to register Nevada LLC, one is supposed to file Articles of Organization Limited-Liability Company with the Nevada Secretary of State. The articles must comprise: the LLC’s address and name,; the name, address and signature of the LLC’s registered agent; the LLC’S dissolution date(if any);whether it is run by members or managers, names, and addresses of each manager or managing member and the name, signature and address of each organizer. Alternatively, the articles may be filed online using the Secretary of State’s web-based business filing portal, Silver flume or by postal mail. The filing rates are $75.

  1. Appoint a Registered Agent

As required, every Nevada LLC must have an agent for service of process in the state-a business entity or individual that agrees to take legal papers on behalf of the LLC in case it is sued. The registered agent must be authorized to conduct business in Nevada. Also, the registered agent must have a physical street address in Nevada. A list of registered agents is found at the Nevada Secretary of State website.

  1. Prepare an Operating Agreement

While an LLC operating agreement is not necessary, it is highly recommended. To find support in creating an LLC operating agreement, reach out for Form Your Own Limited Liability Company, by Anthony Mancuso (Nolo) or utlizeNolo’s Online LLC. An operating agreement does not require to be filled with the Articles of Organization.

  1. Publication Requirements
  2. Comply With Other Tax and Regulatory Requirements

Additional regulatory and tax requirements may apply to your LLC. They include:

EIN: Supposing your LLC has contained more than one member, it must obtain its unique IRS Employer Identification Number (EIN), even if it lacks employees. If you create a one-member LLC, you must reach for a unique EIN if it will have employees or you propose to have it taxed as a corporation as opposed to a sole proprietorship (sidelined entity).To obtain an EIN, you should successfully complete an online EIN application on the IRS website. No filing fee is required.

Business Licenses: As a rule of thumb, all individuals conducting business in Nevada must obtain a state business license from the Nevada Secretary of State. The license must be renewed annually. The renewal fee and license amount to $200.To obtain a license, one must file the Nevada State Business License “Other” Application. Alternatively, you can file it online at the Nevada Secretary of State Business License Only webpage or by mail.

  1. File Annual Reports (Annual List)

All foreign and Nevada LLCs authorized to legally conduct business in the state must file an annual report documenting their directors, officers and registered agent. The state refers to this report as an “annual list.”The deadline for the first annual list is the last day of the first month after LLC’s articles of organization (or an Application for the Registration of Foreign Limited-Liability Company) were duly filed. Subsequently, annual lists must be handed over by the last day of the month in which the anniversary of the LLC’s organization takes place. For instance, if you formed your LLC in June, each list must be submitted by the last day of June. Typically, the filing rates are $150.You may file the report online using Silverflume, the Secretary of State’s web business filing portal or download the form then file it by postal mail.

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