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Tips to Help Employees Beat the Winter Blues

For many, the arrival of fall brings on mental and physical changes as the temperature drops and the hours of daylight get shorter. Seasonal Affective Disorder (SAD) is a type of depression caused by the change in seasons, typically affecting people from fall through the winter months. An estimated 10 million Americans are thought to suffer from this disorder. SAD manifests itself in many ways with symptoms that can differ from year to year, but are consistently associated with seasonal mood changes. Symptoms may include but not limited to:

  • Difficult waking up in the morning
  • Mood changes

Is It Time To Refi Your Commercial Property?

On September 18, 2019, the Fed reduced prime interest rates for the second time in 2019. With falling interest rates, you may be considering a refinance of your commercial property. There are many reasons why this could benefit your business. Perhaps you want to look into a cash-out refinance to utilize the equity you’ve been building in your property to use for renovations or other investment activities. Maybe you want to switch from a variable to a fixed rate in order to lock in some financial security. Perhaps you have an upcoming balloon payment that you’d like to avoid….


Loans for Every Purpose

What types of loans can businesses obtain from a bank? The answer, although not complicated, is surprising to many. For a business, banks have loans for every business purpose. Commercial loans include all types of loans that enable a business to prosper and grow. The major types of loans are:

  • Working Capital Loans
  • Equipment Loans
  • Commercial Real Estate Loans
  • SBA – government guaranteed Loans
  • Mergers and Acquisitions

Working Capital Loans

These loans, or lines of credit, are used to finance the day to day operating costs of running a business….


How Are You Controlling Business Risk?

Businesses deal with risk dozens of times throughout the day. Which employee should I hire? Should I submit this quote at $50,000 and be conservative or $35,000 to ensure we earn the business? Do I need to update my employee handbook to include distracted driving guidelines? These are just some examples of the decisions those running a business make every day, some with more thought than others.

So what happens when a business makes the wrong decision, fails to act properly or even has an accident? Many business owners buy insurance and assume they will be protected if something goes…


Tips to Streamline and Secure your Business Payments

Fraud is one of the greatest challenges businesses face today. According to the 2019 AFP Payments Fraud and Control Survey, 82% of organizations reported incidents of payments fraud in 2018. This staggering statistic makes it clear that you need strict controls in place to prevent losses. Managing your daily cash flow and establishing strong, trusted relationships with your vendors and suppliers are also crucial to business success.

To remain competitive, it is critical for businesses to streamline and secure the payment process in an effort to prevent fraud, save time and control cash flow. Consider these technology-driven cash management…


Employers: Control Healthcare Costs with a Long-Term Plan

According to current Census Bureau statistics, 99% of the 5.6 million employers in the United States have fewer than 500 employees. Small and mid-sized employers are the backbone of our country’s economy and, while in the past this may not have been the case, today we’re seeing that they have a significant impact on the healthcare space. If you’re one of the 99%, let’s talk.

Over the last several years, the major healthcare carriers have realized that small and mid-sized markets were being underserved in relation to options in healthcare. My colleague Kevin Davis will often quote Plato in saying,…


5 Tips for Growing Your Business

Growing your business doesn’t happen overnight. The success of your business depends on your efforts to grow sales and profits using multiple methods. From personnel development to social marketing, every aspect of your business requires attention. It takes quality time and energy to start reaping the benefits to see that your effort is worth it. Below are five tips to consider if you want to see growth in your business.

Focus on Personnel Development

The quality of employees that you hire will determine the success of your business. Building a strong and motivated team is the key to make sure that your…


Business Owners – You NEED a Succession Plan

Time passes so quickly. It won’t be long before many of us “baby boomers’ will have to consider the next transition in our careers. In the world of business financing, this is a particularly important topic for many of my customers who are the owners of privately held companies. Whether it’s planning a transition to family members or a sale of the company, your exit strategy should be defined and planned well in advance. There are many things to consider when planning your transition. Here is a quick review of the key things you should consider.

Why is a…


Get Organized! A Checklist for HR Professionals

It’s easy for HR professionals to get caught up in managing the day-to-day action items and overlook some of the routine maintenance necessary. Over time, policies and processes get “dusty” as regulations change, staff turns over and technology is updated. Consider tackling this list once a year to get organized and get rid of unnecessary clutter at the office.

Tidy up personnel files

Go through the personnel files and purge the ones that no longer belong in the current file, ensure they are all in alphabetical order, spot check for misplaced documents and replace any folders that have become tattered or…


Could Asset-Based Lending Be Right for Your Business?

Asset-based lending, commonly referred to as ABL, is a commercial lending discipline whereby a line of credit is structured with a formula percentage advance rate against a borrower’s working capital assets comprised of accounts receivable, and inventory, where applicable. Companies use asset-based financing to create vital working capital liquidity that replenishes liquidity consumed in their cash cycle, (i.e., the timing difference between the funding of operating costs and expenses and the ultimate collection of accounts receivable generated from sales). This is called the working capital cycle and it varies with each business.

Asset-based credit lines are secured by a lien…

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