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Transaction Expert is dedicated to your success as a business owner. We want to help you compete in this corporate economy.

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How a Merchant Cash Advance Works
Cash Advances sometimes have bad connotations, but they are a great source of working capital for your business. Today, I am going to go over the pros and cons of merchant cash advances and give you a little education about them so you don’t get burned and possibly hurt your business in the long run. Let’s start by answering, what is a merchant cash advance? Well, if you accept credit cards from a processor or Point of Sales system, you’re accepting the form of payment that you will use to pay back the advance. A cash advance company keeps a percentage of your credit card volume that goes through your terminal. Normally, the “batch” sends all the money in the terminal to the credit card processing company, who then sends to your bank account. If you have had your business for a year or more, you have a predictable source of revenue, meaning that if your revenue is $1,000 a month, it is assumed that you will continuously make $1,000 a month for the next 12 months. Picture this scenario, you want to open another location and you need capital. What do you do? You could go to a bank. Yes, they have good interest rates and the payment terms are long, but it is very hard as a small business to get approved. Even if you did get approved, it could take 60 to 90 days for the money from the bank to process and you may need that money now. I have personally used cash advances for my company. Sometimes, you just need the money.  Here at Transaction Expert, we are partnering up with Strategic Funding to create a merchant cash advance program. If you make $10,000 in revenue through credit card processing, they will give you an $8,000 to $12,000 loan or advance. This is about 80% or 120% of your monthly credit card processing revenue, like a factor rate loan. Let’s cover the Pros and Cons of cash advances. Pros: Quick- You can get the money in 3 to 5 business days No Personal Guarantee (in some cases) – Normally, credit is not a major consideration. Cash advance companies care about if you will still be in business by the time the cash advance is paid back. They want to make sure that the money will help your business, not hurt it. Not a Fixed Loan Payment- If you were to get a loan from the bank, they would give you a specific amount of money to pay each month, such as $1,000 a month. With a merchant cash advance, it takes a small percentage, usually about 10% to 20%, of ONLY your credit card processing revenue on a daily basis. It’s nice, because you don’t really notice in your cash flow management compared to having to try to find a certain amount every month that you may not have. The amount of credit card revenue you make goes to the credit card processor, then with your loan, 10% gets taken out and that 10% gets sent to the cash advance company, and the rest will be sent to you. This process continues until the loan is paid off. Cons: Higher Rates- The rates on a cash advance will be higher than those at the bank, but this is because of the no personal guarantee and how fast you receive the money. Short Term- This is the real issue with cash advance companies. Usually, your business only has 3 to 4 months to pay the money back. If you get a $20,000 cash advance and need to pay a third of that every month, this will take away all of your credit card processing revenue and will end up hurting your cash flow. I do not recommend getting the 3 to 4 month cash advances, even though sometimes you may get a slightly lower factor rate. It’s not worth messing up your cash flow over the next few months. What we offer with Strategic Funding is a 10 or 12 month program. This means that you would be paying the cash advance back over a 10 to 12 month time frame, making it a lot easier for you. We base your time frame off of the average amount of credit card processing revenue your business makes per month. Its always about the percent. This type of program is beneficial to a business owner because if you have a week where your revenue is 30% down, your loan payment will also be down 30%. Now, let me explain a factor rate. This isn’t really a loan. Depending on how much risk the cash advance company is taking on and the time period of repayment, that will determine your factor rate. The rate will usually be between 1.3 and 1.4. In other words, if you borrow $10,000 and your factor rate is 1.3, you will end up paying $13,000 back over 10 months. So, the company will withhold 13% out of every day’s “batch.” With our company, we stand out from our competitors with the term of repayment we provide. Usually, interest rates are about the same, but instead of having to pay back $13,000 within only 3 to 4 months, you can pay back the same amount of money within 10 to 12 months. You then get to keep more of your cash flow while you’re paying back the cash advance. If you have any questions, go to transactionexpert.com/cash. Just fill out the form and we will get you in touch with one of our in house cash advance experts that same business day. I know if you are interested in a cash advance, you need the money now. Our goal is to get the money into your account within 3 to 5 business days of filling out the form, so we can get you a cash advance that meets your business’ needs. James Shepherd// <![CDATA[ hbspt.cta.load(402345, 'df514114-d57f-46e1-b79b-f8d06fa9158c'); // ]]></script> The post How a Merchant Cash Advance Works appeared first on Transaction Expert.
Is Your Website Mobile-Friendly?
Recently, the answer to this question became extremely important. Google has decided to block websites from the search engine results that are NOT mobile-friendly. Now, how important is Google search for your business? Well if you think about it, no one is looking through the yellow-pages or even paying much attention to billboards. What customers want to do is pull out their smart-phones and go to their Google App to search for whatever they are looking for. Personally, I pull up my Google App up to 10 times a day and search for whatever I need. For example, if I want to go out to eat somewhere and I am in an area that I’m not familiar with, I just look up, “restaurant in _____,” and get results instantly to choose where I will eat or even shop. Google has discovered an important fact.  If someone goes to a website on their smart-phone and it is not mobile-friendly, the user will simply leave your site right away. Meaning you may be losing a valuable customer. Patience runs very thin now a days, and in order to keep the focus of a user, you must prevent them from hitting that dreaded “back” button before they click on the next result and find someone else. When this happens, Google considers you to be an irrelevant site. Therefore, you’re blocked. What can you do about this? Get a FREE Web Grader Report.If you go to http://transactionexpert.com/web/, we have a FREE Web Grader Report. All you need to do is fill out some information about your site, and then one of our online presence experts will check to see if your website is mobile-friendly. We also go through your competitors’ sites as well as Google to check SEO ranks. After, we will give you back the report that has about 10 categories about how your website is doing. I would suggest doing this ASAP to check or double check if your site is mobile friendly because if not, you will be in some big trouble with Google. Find a Website company with ongoing support. We offer our clients customize design for their mobile site. We don’t provide one of those packages where they cram your desktop site into a mobile setting. A mobile site and a desktop site are different. Certain features on the mobile site need to be a certain size or in a specific place so you’re content can be seen. Through our report, you can actually see what is happening with your mobile visitors compared to your desktop ones. You can see if users are bouncing from the website, how long they are staying, and even what pages they are visiting. This will give you insight on how to change and adjust your mobile-site to be optimized so visitors can come to your mobile-site and navigate through it efficiently and successfully. Get a  FREE Web Grader Report at http://transactionexpert.com/web/ to make sure your website is mobile-enabled and also to cover a few other topics to help improve your online presence. Then, be sure to speak to your local transaction expert so they can help you take the next step. Our dedication is helping local businesses increase the number of transactions that happen in their business. A major part of that is your online-presence, and your mobile website is a major part of that. James Shepherd   The post Is Your Website Mobile-Friendly? appeared first on Transaction Expert.
4 Sources of Cash to Grow Your Business
Today, I will be discussing 4 different sources of capital for your small business to help you grow and expand. Also, I will be talking about our exciting upcoming event,“How to Find Capital,” on Monday, April 13th at 4 p.m. EST.  Register HERE. Here are 4 different sources of cash to grow your business.  1. Traditional Financing  Traditional financing is where you would take a trip to your local bank. Usually, this would be for some larger projects where there is a business plan or you are a business who has been around for a longer period of time with some personal credit, business history, and have acquired assets. The two main factors that are considered during this process are business performance and personal credit. The pros to this kind of financing are the low interest rates and the longer time frame to pay the money back. However, once you are approved, it takes about 60 to 90 days to secure the financing you need. For my upcoming live event, I will have Steve Koval, who is my personal financing consultant for Transaction Expert as well a partner at B2B CFO Services, as a special guest. Steve has over 34 years of experience dealing with banks and other financial institutions. He will be giving us more specific information about traditional financing and exactly what these banks are looking for. 2. SBA Loans  Even though these are similar to traditional financing, there are lower requirements because you are going through the government. During our live event, we will cover how to qualify for an SBA loan and what the next step would be in order to receive it. We will also be discussing different types of government funding that are available such as tax credits. These next two sources are more for short-term working capital needs whether its an opportunity to grow your business or a situation where you can purchase something for your business at a discounted price. My other special guest, Hellen McQuain of Strategic Funding, will be covering some of the non-traditional loans available. Strategic funding has given out over $500 million to small business owners. With her vast experience, Hellen will go over when it would make sense to look into a non-traditional loan and the requirements to receive one of these loans. 3. Merchant Cash Advance  A cash advance is a form of short term working capital that our merchant services company offers to clients. It’s pretty simple. You are actually selling your future credit card processing sales. The benefits are that you receive the money quickly, there aren’t many requirements other than having some credit card processing volume, and you do not need any personal guarantee. You do need to make sure your credit card processing volume is steady. A cash advance is usually funded within only 3 to 5 business days which is much faster than the traditional loan. However, the interest rate will be significantly higher because of the greater risk. 4. Non- Traditional Financing Non- traditional financing involves something like a receivable loan or a ACH loan. These are revenue based financing. For example, a company like Strategic Funding will look at your over-all revenue or if you have recurring revenue. Even if your business may not be processing much credit card volume, it is raking up a lot in revenue, which is what these types of financing focus on. Like the cash advance, this is not based on personal guarantee, but the revenue based financing can benefit those who have more of a business to business approach. Once again, there are less constraints for business owners and interest rates are increased. No matter where your business is at right now, it is important to be aware of all 4  types of financing because during the life of your business, you may need both types of financing. As your business grows, you will end up going toward the more traditional route, but when unforeseen situations happen, there is the non- traditional option. Don’t miss  out our special live event Monday, April 13th at 4 p.m. to learn even more about these sources so your business can grow and expand to it’s fullest potential. Register HERE! James Shepherd   The post 4 Sources of Cash to Grow Your Business appeared first on Transaction Expert.
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    Podcast Details
    Started
    Mar 20th, 2015
    Latest Episode
    Apr 9th, 2015
    Release Period
    Daily
    No. of Episodes
    10
    Avg. Episode Length
    6 minutes
    Explicit
    No

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What customers want to do is pull out their smart-phones and go to their Google App to search for whatever they are looking for. Personally, I pull up my Google App up to 10 times a day and search for whatever I need. For example, if I want to go out to eat somewhere and I am in an area that I’m not familiar with, I just look up, “restaurant in _____,” and get results instantly to choose where I will eat or even shop.\\nGoogle has discovered an important fact.  If someone goes to a website on their smart-phone and it is not mobile-friendly, the user will simply leave your site right away. Meaning you may be losing a valuable customer. Patience runs very thin now a days, and in order to keep the focus of a user, you must prevent them from hitting that dreaded “back” button before they click on the next result and find someone else. When this happens, Google considers you to be an irrelevant site. Therefore, you’re blocked.\\n\\nWhat can you do about this?\\n\\n Get a FREE Web Grader Report.If you go to http://transactionexpert.com/web/, we have a FREE Web Grader Report. All you need to do is fill out some information about your site, and then one of our online presence experts will check to see if your website is mobile-friendly. We also go through your competitors’ sites as well as Google to check SEO ranks. After, we will give you back the report that has about 10 categories about how your website is doing. I would suggest doing this ASAP to check or double check if your site is mobile friendly because if not, you will be in some big trouble with Google.\\n Find a Website company with ongoing support. We offer our clients customize design for their mobile site. We don’t provide one of those packages where they cram your desktop site into a mobile setting. A mobile site and a desktop site are different. Certain features on the mobile site need to be a certain size or in a specific place so you’re content can be seen. Through our report, you can actually see what is happening with your mobile visitors compared to your desktop ones. You can see if users are bouncing from the website, how long they are staying, and even what pages they are visiting. This will give you insight on how to change and adjust your mobile-site to be optimized so visitors can come to your mobile-site and navigate through it efficiently and successfully.\\n\\nGet a  FREE Web Grader Report at http://transactionexpert.com/web/ to make sure your website is mobile-enabled and also to cover a few other topics to help improve your online presence. Then, be sure to speak to your local transaction expert so they can help you take the next step. Our dedication is helping local businesses increase the number of transactions that happen in their business. A major part of that is your online-presence, and your mobile website is a major part of that.\\nJames Shepherd\\n \\nThe post Is Your Website Mobile-Friendly? appeared first on Transaction Expert.\",\"rating\":null,\"user_data\":{}},\"386181\":{\"air_date\":\"2015-04-06 22:30:04\",\"podcast\":7557,\"audio_url\":\"http://transactionexpert.com/podcast/4_Sources_of_Cash_to_Grow_Your_Business.mp3\",\"length\":451,\"review_count\":0,\"guid\":\"http://transactionexpertcom/?p=688\",\"image_url\":null,\"slug\":\"4-sources-of-cash-to-grow-your-business\",\"rating_count\":0,\"highlight\":[],\"weighted_rating_alltime\":3,\"podcast_id\":7557,\"title\":\"4 Sources of Cash to Grow Your Business\",\"id\":386181,\"description\":\"Today, I will be discussing 4 different sources of capital for your small business to help you grow and expand. Also, I will be talking about our exciting upcoming event,“How to Find Capital,” on Monday, April 13th at 4 p.m. EST.\\n Register HERE.\\nHere are 4 different sources of cash to grow your business. \\n1. Traditional Financing \\nTraditional financing is where you would take a trip to your local bank. Usually, this would be for some larger projects where there is a business plan or you are a business who has been around for a longer period of time with some personal credit, business history, and have acquired assets. The two main factors that are considered during this process are business performance and personal credit. The pros to this kind of financing are the low interest rates and the longer time frame to pay the money back. However, once you are approved, it takes about 60 to 90 days to secure the financing you need.\\nFor my upcoming live event, I will have Steve Koval, who is my personal financing consultant for Transaction Expert as well a partner at B2B CFO Services, as a special guest. Steve has over 34 years of experience dealing with banks and other financial institutions. He will be giving us more specific information about traditional financing and exactly what these banks are looking for.\\n\\n2. SBA Loans \\nEven though these are similar to traditional financing, there are lower requirements because you are going through the government. During our live event, we will cover how to qualify for an SBA loan and what the next step would be in order to receive it. We will also be discussing different types of government funding that are available such as tax credits.\\nThese next two sources are more for short-term working capital needs whether its an opportunity to grow your business or a situation where you can purchase something for your business at a discounted price.\\nMy other special guest, Hellen McQuain of Strategic Funding, will be covering some of the non-traditional loans available. Strategic funding has given out over $500 million to small business owners. With her vast experience, Hellen will go over when it would make sense to look into a non-traditional loan and the requirements to receive one of these loans.\\n3. Merchant Cash Advance \\nA cash advance is a form of short term working capital that our merchant services company offers to clients. It’s pretty simple. You are actually selling your future credit card processing sales. The benefits are that you receive the money quickly, there aren’t many requirements other than having some credit card processing volume, and you do not need any personal guarantee. You do need to make sure your credit card processing volume is steady. A cash advance is usually funded within only 3 to 5 business days which is much faster than the traditional loan. However, the interest rate will be significantly higher because of the greater risk.\\n4. Non- Traditional Financing\\nNon- traditional financing involves something like a receivable loan or a ACH loan. These are revenue based financing. For example, a company like Strategic Funding will look at your over-all revenue or if you have recurring revenue. Even if your business may not be processing much credit card volume, it is raking up a lot in revenue, which is what these types of financing focus on. Like the cash advance, this is not based on personal guarantee, but the revenue based financing can benefit those who have more of a business to business approach. Once again, there are less constraints for business owners and interest rates are increased.\\nNo matter where your business is at right now, it is important to be aware of all 4  types of financing because during the life of your business, you may need both types of financing. As your business grows, you will end up going toward the more traditional route, but when unforeseen situations happen, there is the non- traditional option.\\nDon’t miss  out our special live event Monday, April 13th at 4 p.m. to learn even more about these sources so your business can grow and expand to it’s fullest potential. Register HERE!\\nJames Shepherd\\n \\nThe post 4 Sources of Cash to Grow Your Business appeared first on Transaction Expert.\",\"rating\":null,\"user_data\":{}}},\"failed\":{},\"by_podcast\":{\"7557\":[386179,386180,386181]}},\"favourites\":[]},\"category\":{\"categories\":{\"loading\":{},\"entities\":{\"business\":{\"id\":11,\"text\":\"Business\",\"slug\":\"business\",\"relevance\":500},\"management\":{\"id\":273,\"text\":\"Management\",\"slug\":\"management\",\"relevance\":400},\"marketing\":{\"id\":172,\"text\":\"Marketing\",\"slug\":\"marketing\",\"relevance\":300}}}},\"rating\":{\"ratings\":{\"loading\":{},\"entities\":{}}},\"tag\":{\"tags\":{\"entities\":{},\"loading\":{},\"autocomplete\":{},\"failed\":{}}},\"creator\":{\"creators\":{\"entities\":{},\"failed\":{}},\"credits\":{\"entities\":{}},\"suggested_credits\":{\"entities\":{}},\"roles\":{\"entities\":{}},\"loading\":{},\"editing\":null},\"merch\":{\"merch_products\":{\"loading\":{},\"entities\":{},\"failed\":{}}},\"claiming\":{\"feed_details\":null,\"claim_status\":{\"claimed\":false,\"validate_error\":null},\"podcasts\":{},\"user_data\":{\"claimed\":[],\"pending\":[],\"loading\":false,\"loaded\":false}}}";