SBAZ Blog – Home Improvement – Small Business Resources

Stain Removal Tips for Scottsdale, AZ
Three steps for proper carpet care: Information provided by The Carpet & Rug Institute

Scottsdale Carpet Cleaning is just like exercise! If you get into a routine and keep it up, you will see great results and feel better for it. Understanding the right way to clean carpet will help you save time by doing it correctly the first time with products that do the job right from the start. Not only will Seal of Approval cleaning products help keep your carpet looking great, they can also help meet the warranty requirements of the carpet manufacturer. Below are three simple steps to keeping your carpet clean and looking great:

1. Vacuum at the right frequency with a CRI-approved vacuum.
2. Clean spots and spills quickly with products that do not damage the carpet or cause it to resoil more quickly.
3. Professionally deep clean your carpets every 12 to 18 months to remove embedded dirt and grime.

Stop dirt at the door

Preventing dirt and grime from getting on the carpet in the first place is a great way to start keeping it clean. The following helpful hints can stop dirt in its tracks.

* Use mats – Outdoor and indoor mats or runners can reduce the amount of dirt that enters the house.
* Take off your shoes – You can save wear and tear on carpet by asking everyone to take their shoes off before entering your home.
* Change your air filters – Change air filters in your heating and air-conditioning systems as recommended by the manufacturer’s directions. The more dust and particles removed by the filter, the fewer that fall onto the carpet.

Spot Removal Steps

Act Quickly! Most carpet available today has been treated with a stain-resist treatment, so many spills can be removed if immediate action is taken. The longer the delay, the higher the probability of a spill becoming a permanent stain. Remember, staining is influenced by many factors, and no carpet is completely stain proof.

Blot liquids with a dry, white, absorbent cloth or or white paper toweling (no printing).

Do not scrub the area! Scrubbing may cause pile distortion in the affected area. Continue to use a dry cloth or paper towels until the area is completely dry. For semi-solids, gently scrape up with a rounded spoon. Solids should be broken up and vacuumed until completely removed. If the spot can be identified, locate the substance in the spot removal computer and follow the directions carefully.

Pretest any spot removal agent in an inconspicuous area to be certain the solution will not damage the fiber or the dye. After applying several drops to the testing area, hold a white cloth on the wet area for 10 seconds. Examine the carpet and cloth for color transfer, color change, or damage to the carpet. If a change occurs, another cleaning solution should be selected.

Apply a small amount of the selected cleaning solution to a white cloth and work in gently.

Work from the edges of the spill to the center to prevent the spill from spreading. Do not scrub! Blot in order to absorb as much as possible, and repeat if necessary.

Continue using the first cleaning solution as long as there is a transfer of the spill to the cloth. It is not necessary to use all of the cleaning solutions if the first solution removes the spill.

Be patient! Complete removal of the spill may require repeating the same step several times. After the spill has been completely removed, rinse the affected area thoroughly with cold water, and blot with a dry cloth until all of the solution has been removed. Some cleaning solutions will cause rapid soiling if the solution is not completely removed. Apply a one-half inch layer of white paper towels to the affected area, and weigh down with a flat, heavy object. Continue to change paper towels as needed.

A dry, absorbent, cleaning compound may be used as a substitute to accelerate drying time.
For more detailed information on a specific spill, please search on the pull-down menu at right.
Many fiber manufacturers provide a toll-free cleaning assistance and advice (consult your warranty).

Scottsdale Carpet Cleaning Tips provided by:
Americhem Carpet & Tile Cleaning
“Your Scottsdale Carpet Experts”

Here’s a couple topics and suggestions that you can use to promote your own website that will cost you nothing but time.

Get involved.
You get out what you put in. Don’t expect to build a website and a week or even a month later think that people are going to magically find you online. Building an online presence and ranking well in popular search engines takes a lot of time and it is a process that requires continuous attention and by just spending a few hours per week you can see some very positive results.

Blog it up.
Start talking about your craft, your weekend or even posting some funny videos you think your readers might enjoy. You may be thinking how will I even get any readers to my blog and the answer comes back to the first point of getting involved. Search out some blogs that are relevant to yours and share your opinions via comments and link back to your blog. If you actually read articles and write quality comments the blog poster would most likely at least check your blog out and if they like what they see then you may have yourself a follower. Don’t cut corners or just comment on 100 blogs saying things like “I enjoyed your post” because it is very obvious you just posted for the link and may bloggers will not approve your comment.

Choose Quality, not Quantity.
Referencing back to the post above, when you’re promoting your site across the net try and focus on quality websites to either comment or list your site on. More often than not Google will not only not reward your site for linking to sites that may appear spammy or irrelevant but they will actually penalize you. Many people think that getting websites ranked in search engines comes down to the number of links you have pointing at your site and they couldn’t be more wrong.

Age, age and more age.
Search engines love age, especially Google. By age I mean not only the age of the domain but the age of the links pointing to the site. Think about it, would a site be more relevant that is 5 months old with 100 indexed links pointing at it or a site that is 7 years old with 100 links coming in for those 7 years. It’s a no brainer and age is something you must attain from continuous hard work on your site and in due time, could be months or years, your site will get rewarded most definately.

I hope you enjoyed the insight and this information will benefit you and your website in the future.

Todd Helvik
602.705.6050
Visit My Website

Desert Tortoise Care
The Scottsdale Veterinary Clinic

Cold Weather Care
Tortoises should be kept outside year round (unless they are ill, then they should not hibernate). Bring your tortoise in every September for a pre-hibernation exam and to get feces checked for
parasites.

When the weather becomes cooler in the fall, the tortoise will prepare for hibernation.
To help with this process, you can construct a den (see Den Construction handout).
If you cannot construct a den, you may place the tortoise into a garage or storeroom. However, this
is not ideal.

The temperature for ideal hibernation conditions should remain between 40-55° F, and humidity between 30-46%. If the hibernation area is too warm, the tortoise cannot hibernate properly. Keep your tortoise in a dark, draft-free area. Check on it every week or two, but do not move it. If the animal is being kept indoors for hibernation, it is possible for it to become dehydrated. Offer water every 4-6 weeks, or every 2-3 weeks for juveniles. If your tortoise chooses to not hibernate in the burrow, even after you’ve moved it back to the
burrow/den, it may be sick. If this is the case, bring your tortoise in for an exam.

Warm Weather Care
When the tortoise emerges from hibernation, keep shallow pools of drinking water available. Do not leave large pools, as desert tortoises cannot swim and will drown. If you have a pool or pond, make sure it is blocked off so that the tortoise cannot reach it.
The shallow pools of water are for drinking and lounging in. The tortoise can absorb water from their cloaca (located in the tail) while sitting in the water.
During the extremely hot months, your tortoise will go underground and/or become less active. Make sure that food, water, and shade are always easily accessible to it.
If you don’t want your animal to roam free in the backyard, you can create an enclosure.
The enclosure must be a minimum of 120 ft2. This can house either a single male or 3 females (if you use wire fencing, make sure the holes in the fencing are at least 2 inches wide to prevent the tortoise from becoming entangled).

Females and males should be separated from each other to avoid breeding.
The enclosure walls should be at least 18 inches high to prevent escape since tortoises are good climbers. If you have any questions about Desert Tortoises, please contact the Sonora Desert Museum at (520) 883-3062 or visit their website at www.desertmuseum.org. You may also ask a staff member at Scottsdale Veterinary Clinic.

-Dr. Langhofer

Mortgage Tips Courtesy: David Krushinsky of WJ Bradley Mortgage

By now, most of you have heard of the $8,000 tax credit available to first time homebuyers purchasing a primary residence before December 1, 2009. The question that seems to be on everyone’s mind is whether or not the money can be obtained sooner and if so, what can it be used towards? There have been many announcements and subsequent revisions that have made it all a little confusing. Here is a breakdown of some of the current policies set forth.

At the end of May 2009, HUD announced that it will allow “monetization” of the tax credit. This simply means that the anticipated tax credit can be applied towards the home purchase immediately rather than waiting to receive the refund. The guidelines authorize the monetization in a few different ways.

For starters, homebuyers that believe they qualify for the credit are permitted to reduce their income tax withholdings. This will allow buyers to accumulate more cash reserves for a down payment by increasing their take home pay. Individuals must be cautious because if the purchase does not occur, the IRS could impose interest and penalty charges on the repayment.

Some state housing finance agencies and other government entities have introduced programs that will provide homebuyers with short-term loans that can be used towards the FHA minimum 3.5% down payment. Longer term loans that are secured by a second lien on the property are also permitted. The National Council of State Housing Agencies (NCSHA) has compiled a list of such programs that can be found at http://www.ncsha.org/section.cfm/3/34/2920. At this time, Arizona does not have any of these programs available.

In addition, FHA approved lenders are allowed to provide bridge financing to the buyer that is secured by the anticipated tax credit. This amount is permitted to cover closing costs, prepaid expenses and down payments above the FHA minimum of 3.5%. Unfortunately, there are no lenders participating in such programs at this time. The broad consensus in the industry is that these loans are not anticipated to surface in the near future.

Carpet Cleaning
The beauty and life of your carpet depends on the care it receives. Quality carpet that is well-maintained should last 10-15 years. Proper cleaning will keep it looking great for its full lifetime and help improve your indoor air quality. Maintaining your carpet also protects your pocketbook and the environment. The right cleaning helps safeguard your carpet investment by keeping you from having to replace it before its time. Cleaning your carpet the right way is easier than you think. All it takes is a little knowledge about how to select the right carpet cleaner and the right cleaning process. Below are just a few reasons why you should choose Americhem.

Asthma and allergies: Although we might not normally associate carpet with improved indoor air quality, it does have a very positive effect. Gravity causes common household particles, such as dust, pollen and pet and insect dander, to fall to the floor. Carpet fibers trap the particles, reducing their continued circulation in the air. Proper steam cleaning effectively removes dust and allergens from the carpet and helps keep them out of the air we breathe.

Tile & Grout Cleaning
We professionally clean and restore all types of ceramic tile, stone and grouting surfaces including floors, counter tops, vinyl floors and showers/bathroom surfaces. We use state-of-the-art van- powered cleaning methods specially designed for tile and grout.

Our process includes:
Inspection of tile surfaces examining for the best possible cleaning method.
Specialty heated “BioKleen Green Cleaning” tile pre-conditioners and hand brushing, first to loosen embedded soils on the surface of the tile and grout.
Turbo Force cleaning tools used with hot steam and high pressure with rotating head cleaner using only force of steam with “BioKleen Green Cleaning” tile detergents and powerful high velocity extraction of all soil and water. We do not use any type of brushes that can damage or scratch surfaces.

Thoroughly hand dry all surfaces.

Apply an optional Grout Sealer to protect grout from mildew and re-soiling.

Pre-Treatment
First, we apply a mild Alkaline Solution to a section of the floor and allow it to soak for approximately 15 minutes. In severe case of soiling we will use a rotary floor machine to agitate the clearing agents in. This pre-treatment loosens accumulated soil, grease, and contaminants, and prepares the surface for our cleaning process. The alkaline solution does not produce any harmful fumes, and ordinary ventilation removes the mild scent within minutes of completion of the job. If necessary we will use a safe gentle acid to attempt to remove any staining that did not come out with the alkaline cleaning agent.

Turbo Pressure Washing
We use a pressure washing system designed specifically for tile & grout, acrylic, and epoxy surfaces. Our truck mounted cleaning process power washes the floor to extract soil and grease from the pores of the tile and grout or other hard surface floors. The system generates water pressure of 800 to 1,200 P.S.I. and water temperature of approximately 220 degrees to soften and extract years of soil and contaminants. The floor tool connects to a powerful vacuum hose, which sucks the cleaning disk to the floor, and confines the water spray inside the 16-inch disk. There is virtually no splash over to worry about. The vacuum hose draws away the water, along with the dirt, to a containment tank on our truck, and we dispose of the wastes in accordance with EPA regulations. You will find that our process restores the tile & grout to 85 to 90 percent of its original appearance. Some stains, (red wine, mustard, dyes, etc.) will not come out because they dye the grout, but the combination of heat, water pressure, and suction removes most stains.

Optional Sealing
After we clean the floor and allow it to dry, we seal the floor with our impregnating sealer. The tile & grout floor absorbs the sealer into its pores, creating a barrier against future staining. The sealer does not change the appearance of the floors by adding a shine or luster. Instead, it preserves the natural beauty of the surface.

Natural Stone Restoration – Granite, Travertine, Marble
We are one of the few area companies that specalize in the use of diamond abrasives in the restoration of your stone surfaces. The use of diamonds in the grinding and honing phase of restoration will give you better clarity and more reflectivity after polishing. We also provide cleaning, sealing, crack/chip repair and stain removal for marble, granite, travertine, terrazzo and all other natural stone surfaces.

Following are the restoration services we offer and what they entail:

Grinding
To remove deep scratches and remove lippage (uneven tile edges). Done by machine with diamond abrasive pads and water that creates no dust.

Honing
To remove minor scratches and wear from eveyday foot traffic. This process is also done by machine with diamond abrasive pads and water that creates no dust.

Polishing
To give marble or stone the sheen you want, enhance the veining in marble and to protect the marble or stone from everyday traffic and spills. (Utilizing the same compounds that are used in the fabricating process.)

Cleaning
To remove dirt, stains and bacteria and to remove waxes and polymers that have become embedded.

Sealing
To protect and preserve natural stone. (Using penetrating sealers / impregnators.)

Color Enhancing
The use of penetrating sealers / impregnators formulated to enhance or enrich the color of your stone.

Stripping
To remove coatings that block stone’s ability to breathe which causes spalling (when the stones crack, pop and shale). Some examples of common coatings are, crystallization, janitorial waxes, polyurethane, ect.

Grout Cleaning and Sealing
Dirt loves to hide in grout. Brushes cannot penetrate into the micro pores to get all of the contaminants out. We use a patented system to clean your grout to like new and then we seal it to facilitate easier maintenance for the long haul.

Brought to you by Americhem Carpet, Tile & Stone Cleaning and Restoration

by: Todd Helvik

What if you could set up a prominent booth for your business at the biggest shopping mall here in the Valley where over 80% of local residents look for your local services just like yours with thousands upon thousands of potential customers searching your niche per month? Your first thought would be “Where do I sign up” and your second thought would be “how much does it cost”. Well that is exactly what you can accomplish with a successful website ranking high in popular search engines like Google, Yahoo & MSN.

But how do I get listed up there?
Like anything else, to be successful it will take time and don’t expect to be an overnight success but it is not possible and you should be very weary of any company that promises otherwise.

Determining Factors
There are plenty of factors determining what seperates top websites from the rest and the main ingredient is links. I saw a good analogy on another blog that I am going to steal that provided the similarity to how high school students are only as popular as their friends. It is the same way with links. If you have popular or what Google refers to as “relevant” links pointing to your site then it will place you higher in the rankings in response to your fellow “classmates” or websites saying that you are relevant and worthwhile.

Once they show up, then what?
Converting potential customers is what really makes the difference when it comes to internet marketing. You can have the highest ranking website in the world but if potential consumers land on your site and find irrelevant or hard to understand content not driving them in a certain direction you can bet they will not stick around for long. The average web browser makes their decision whether they will stay on a website in 4 seconds or less so it is extremely important to get your point across early and often.

Phoenix Seo Questions
If you have any questions about the current state of your site or want some free tips or pointers that can help you along in the rankings or customer conversion process go ahead and shoot me an email or give me a call and we can talk about it. There’s no better time than now to start the SEO process, the customers are out there looking, make sure they find you.

Submitted by: David Krushinsky of State Mortgage

Fannie Mae and Freddie Mac have just released details on how they will handle refinance transactions authorized by the Home Affordable Refinance program. The complete details of both programs can be found by accessing the program guides from Fannie Mae and Freddie Mac, but we will discuss some of the highlights below.

You probably have seen already that lenders and investors are in a holding pattern, as they determine if, when and how they will accept these transactions. Even though this legislation has passed – they are not all required to participate. For right now, your very first step is to contact your existing servicer, and get information from them as to their participation.

In the case of all loans, they have to be delivered back to the existing owner of the loan today. Meaning, if Fannie Mae is the owner of the loan, the loan must be delivered to Fannie Mae and underwritten according to their guidelines. The same is true for Freddie Mac.

You must determine who owns the loan. A borrower has the ability to do this by contacting their servicer and asking…or by using the links below. Note that the property address must be entered exactly as the agency has it on file, or it may not be found (ie: Rd or Road? St or Street? You may want check how it appears on your statement.)

Let’s look at the guidelines for both Fannie Mae and Freddie Mac and point out some of the key factors we see that will impact or enhance your ability to participate.

One key point to remember is that these are the guides as they are originating from the agencies. And just as participation in the programs is voluntary, individual investors and servicers may choose to implement constraints that deviate from the guidelines, much in the same manner that we are seeing additional underwriting overlays in the processing of loan files today.

Fannie Mae

Let’s look at the difference between the types of refinancing available from Fannie. The primary difference for originators is as follows between the two programs..

DU Refi Plus

Available to all Fannie Mae approved lenders using DU; borrower must credit qualify.
Available across all lending channels (retail, wholesale and correspondent).

Refi Plus

If a client does NOT qualify for DU Refi Plus, they may still be able to refinance, but would have to work directly with the current servicer, or one of the servicer’s affiliates or retail channels.

Many of the guidelines are similar for both DU Refi Plus and Refi Plus. Similarities include:

That the borrower must be receiving either a lower mortgage payment or moving to a more stable type of product like an ARM to a Fixed-Rate. ARM programs are available but must have initial fixed periods of five years or greater.
The maximum LTV is 105%. There is no limitation on CLTV, but 2nd lien holders will need to re-subordinate.
If PMI does not exist on the loan today, it will not be required on the new loan, regardless of LTV. If PMI does exist on the loan, the loan will be required to be re-insured through the existing PMI company.
LLPA’s (loan level pricing adjustments) exist for both loans, see guides for details or consult your investors.
The availability for appraisal waivers will exist in limited situations.
Freddie Mac
The Freddie Mac guidelines are somewhat similar to Fannie Mae’s, but if you go through the detailed guidelines linked above, you will see they are a bit more vague at this time. Although Freddie Mac initially stated that these refinances may ONLY be originated by the servicer or one of their retail or affiliate channels, right as this article of the release of this article, we have learned from a source at Freddie Mac that they are looking at options that could enable more originators to be involved in refinances under this program.

One potential area that could cause a problem is that while no cash out is allowed, funds extended to cover closing costs may not exceed $2,500.

Additional Resources:

Does Fannie Mae Own Your Mortgage?

Does Freddie Mac Own Your Mortgage?

Article Written by:  Mick Bernard a Certified Credit Restoration Expert and President of Credit Strategies, a credit consulting firm based in Scottsdale, Arizona.  Credit Strategies works with Mortgage Companies, Realtors and Bankers to help their borrowers with less than perfect credit increase their credit scores so they can qualify for the best possible financing.

Short Sale vs. Foreclosure

This debate is racing across our nation.  It is one of the questions I am asked the most, “Should I let my house go into foreclosure or should I do a short sale?”  Everyone seems to understand a foreclosure will not only demolish their credit score , but it will also ruin their chance of getting a decent interest rate on any new financing they want to get in the next few years.  A foreclosure is considered a major incident by the credit bureaus.  Any major incident can have a devastating impact on your credit score.  Other examples of major derogatory credit incidents are bankruptcies, charge offs, judgments and short sales, which are normally accompanied by the term “account settled.”  Anytime your credit report has the term, “Settled or Settled for Less than Full Amount,” it is considered a major derogatory incident and can have a major negative impact to your scores.  How much it will reduce your score is determined by many reasons some of which we can discuss and some that are kept a secret by Fair Isaac, the inventors of the FICO credit scoring system.  We do know the higher your credit score, the more damaging a major derogatory incident will be.  In other words, a major incident affects the people that have the furthest to fall.

Foreclosure

Most people know what this is.  A foreclosure is when the bank takes back a home because the homeowner doesn’t make the payments on their home loan or mortgage.  In most cases a home doesn’t go into foreclosure until a homeowner is several months behind on the mortgage.  A foreclosure can have a double negative impact on a consumer’s credit score.  In addition to a foreclosure listing being a major derogatory incident, there are also normally a significant number of late payments reported by the lender to the credit bureaus.  These late payments vary in severity from “30–days” late to the much more damaging “90-days” late incident.   In many cases there are additional late payments more severe than 90 days being reported, such as the 120 and 150-day late payments.   The number of the late payments and the severity of those payments will all contribute to the damage done to your credit scores.

Short Sale

Short sales are more of a mystery to consumers because there is some confusion regarding the impact they have on their credit scores.  Fair Isaac has confirmed that they consider a short sale to be a major derogatory item because of it being listed as a “settled account.”  Major derogatory incidents can have a severe negative impact on your credit scores.  Most of the cases I’ve been involved with, the main difference between a foreclosure and a short sale is communication.  During the foreclosure process the homeowner tends to be more invisible during the process.  During a short -sale transaction there is constant communication between the bank and the homeowner.  During that time the homeowner or the homeowner’s representative has the opportunity to negotiate with the lender.  In addition to negotiating a reduced loan pay-off they could also be negotiating what the lender will report to the three credit bureaus when the transaction is closed.   If the lender reports, “Settled or Settled for Less than Full Loan Amount,” the short sale will be considered a major derogatory incident.  If the lender doesn’t report the short sale as “Settled or Settled for Less than Full Loan Amount,” then this will not be considered a major derogatory incident and will not have the negative impact.  The homeowner may also choose to remain current on their home loan during the short sale process.  If they remain current then they will not have the added negative impact of the late payments affecting their score.

Affects on Credit Score 

The effect a foreclosure or a short sale has on your credit score is impossible to predict because of the variety of other variables impacting the scores.  If you find yourself in the unfortunate situation of not being able to make your mortgage payment, do your research.  Call your lender to see what options they have available before making any decisions.  Call a professional; there are many different professionals that specialize in these types of transactions. The decision you make could have the largest impact on your credit score than any decision you have ever made.

Need more information?  Mick can be reached by e-mail:  mick@onlinecreditstrategies.com

Credit Strategies – 480-502-5554 – www.onlinecreditstrategies.com

by: Todd Helvik

This is a very popular question I cannot help to ask local business owners as well as my personal friends, colleagues and pretty much everyone else. So what is the general answer I get? No.

In the defense of the print directories the general demographic I talk to is under 40 years of age and are familiar with technology and more specifically searching for any and everything they could possible need online. I would like to tackle this topic from both a consumer and business owner standpoint and see what kind of conclusion I come up with.

From a consumer standpoint:What is it you look for when searching for a local business or service, is it just the first name that comes up, the biggest ad or the cheapest price? From my personal experience when using a phone book some 8 or 9 years ago I would generally call the biggest ad as I felt they could be the most trusted and established company. In this day and economic climate, consumers are relying now more than ever on price and will do whatever it takes to get what they feel is the best deal and as we all know, cheapest price doesn’t always mean the best deal. Those are both still very popular ways local consumers find businesses but the new overwhelming favorite has to be reviews. The continuing growth of sites like Yelp! prove that people will eat dirt off the ground if their neighbor says it tastes good and is nutritious. Seeing 10 wonderfully glowing reviews about a company will make a consumer not even hesitate to pick up the phone and use that service. Why shop around to find another quote on your project if everyone else has nothing but good things to say about this business? This can be just as true for bad reviews about a business. If you receive literally 1 bad review out of say 5 from your clients and the next business in line is 3 for 3 on the positive side who do you think will get the job? In my opinion, online reviews and recommendations will not only be the rise and fall of particular local businesses but also the fall and elimination of phone books as people will live and die by reviews from their neighbors and why shouldn’t they?

For business owners: Virtually every business owner I talk to is migrating, some faster than others, strictly to online marketing. Statistics are definitely in their favor as online searches for local goods and services are constantly on the rise and showing no signs of slowing down. Does that mean that phone books are dead? My answer here is not yet but we’ll just say they’re standing on one leg and it is only a matter of time before the other one is knocked out from under them. Many people feel that the baby boomers are the only source keeping phone book directories afloat. Various cities throughout the US are not even distributing white pages any longer to local residents but rather a cd and request form to fill out if they wish to have one delivered at a later date. So with this downward trend wouldn’t you think the advertising rates would go along with it? If you could be so lucky. A full page advertisement costs up to $5,000…..per month, ya per month in certain local directories and I want to take a minute to put that in perspective. If you are a carpet cleaning company for instance how many jobs and carpets would you have to clean to sustain this type of advertising medium? The answer is more than you will receive without question. Convert that money into the right online advertising and the sky is the limit. In conclusion, I would just like to pose this question to you; when was the last time you used your phone book to search for a local business or service? Please provide examples and thanks again for reading…

When small business financial problems arise, we sometimes forget what has worked for years and years – factoring.

Factoring is selling your accounts receivable, or invoices for money that is owed to you from commercial customers, in order to get the money sooner than the 30 to 60 days companies are taking to pay. Factors speed up the realization of money from your receivables; they are not a collection agency; they don’t buy bad debt.

Standard accounts receivable factoring has been around for more than 4,000 years. IFG begins the single invoice factoring process with due diligence that typically takes one to two business days. Once completed the client is at liberty to offer invoices to IFG for purchase. Upon receipt of invoices, IFG checks the credit of the debtor named on the invoice and makes sure that the sale represented has been satisfactorily completed. Once this is done the debtor is advised of the purchase by IFG and the client receives their funding. At the end of the credit period, the debtor pays IFG directly completing the transaction.

Factoring companies like IFG are experiencing an increase in the number of small businesses that are taking advantage of single invoice factoring solutions that can help them stay afloat during these tough economic times. Payments are running later than ever, and many businesses are finding themselves strapped for cash for the first time. The reality is that bank loans take a long time to process while factoring is a 24 hour turnaround.

Courtesy: Phyllis Rector of The Interface Financial Group