Marketing 101 1/2?

Delete, delete, delete, emails all day long. I also hate where I have to open envelopes full of half information and propaganda.

 As a business owner like all of us, we are looking at attracting new customers and it becomes more and more difficult to do. Most Email blast are very annoying, so which ones are we likely to open? And are they legit? Do they even pertain to what we do?

Here is what I have found over the years that have been very effective for me.

  1. I use 5 x 8 postcard mailers, clean and to the point of what I offer, and I do research as to who could actually use my services or products (target marketing).
  2. Seminars I use 5 x 8 postcards with a four or five point agenda and one guest speaker. The agenda again should be aimed at your target market, provide some sort of dinner, snacks and coffee, and a time limit on how long your show will last. keep in mind-do not make your guest speaker the main attraction, it is you that must connect with your audience and potential customer.
  3. Seminars, I make it interactive, questions and answers, this keeps thee audience engaged, not the boring dry read from the scripts type of lecture. Avoid details on your products and services, instead talk about how your services help or have helped your customers.
  4. I only mailed around 100-150 invites with RSVP only, I had to I used to have the seminars on Tuesday, I had to add Thursdays because of the overflow.
  5. Demographics, most companies or individuals do not want to travel more than 10-15 minutes to attend a seminar. So do your homework and outline a circle radius from your hosting location and send invites within the 15 minute circle
  6. Have a sign-in sheet
  7. Have a handout with your information (single sheet) where they can pick a topic or product they are interested. Have them fill this out BEFORE they leave.
  8. Videos on your website
  9. Company logo, branding your name is crucial.
  10. Joining every possible place in the world: Facebook, LinkedIn, reddit, spyfu, moz, manta, yahoo, yelp, wordpress, wordtracker, tumblr, Alexa, mailchimp, opportunity, alignable, google one account, proringer, ezinearticles, and the list goes on…BLOG, BLOG, BLOG
  11. I wrote my book: Seminar Marketing & Sales Training for the Financial Professional Back in 2006, it still sells well, why? back to basics, it works.  
  12. My author website:

Find your niche, market to your niche and strength, keep it simple. Just think about what turns you on or off and apply that to your marketing strategy.

Best of luck in 2017…


Employer 1094 & 1095 Reporting

You must file in accordance to the Affordable Care Act (ACA) as mandated by IRS by February 28, 2017 or March 31, 2017 if filing electronically forms 1094 & 1095 for calendar year 2016, in addition 1095 form which lists each covered employee and their dependents must be prepared and distributed individually to each of your employees by january 31, 2017.

You must distinguish between large and small employers. employers. Large employers (ALE’s) are subject to ACA’s minimum Essential Coverage and Affordability requirement to avoid penalty. Small employers are not subject to penalty and only have Minimum Essential Coverage requirements.

  • Small is considered with less that 50 full time equivalent employees are considered Minimum Essential Coverage. They are required to file forms 1094-B and 1095-B with the IRS and distribute individual forms to each of it’s employees covered under the health plan.
  • Employers with 50 or more full time equivalent employees are Applicable Large Employers (ALE’s) for 2016 and are required to file forms 1094-C and 1095-C with the IRS and are also required to distribute the individual 1095-C forms to each of its employees covered under the plan.
  • Instructions for 1094-B and 1095-B
  • Instructiuons for 1094-C and 1095-C

All of this may change going forward with a new administration, however as of 2016 tax filing you must complete these forms and filings.

Happy Tax time


Hack city- 43% targeted small business

an average breach for small business can cost $100,000 or more

Watch this video:

We are a corporate and individual agency for LifeLock Agency # C1A464

For more information and applications visit our website:

In 2015, there were over 1 million web attacks against people a day. Out of that staggering number, 43% targeted small businesses. With larger companies beefing up their cybersecurity measures, small businesses have become attractive targets for hackers. Owners should be concerned the average cost of a data breach for a small business merchant is between $36,000 and $100,000.

Common-sense solutions and general awareness of cybercrime techniques can greatly reduce your business’s vulnerability to cyberattacks.

  • Install Antivirus Software
    The best ways to steer clear of viruses and malware are to use an industry-leading anti-virus software solution. There are many options out there, do not install multiple anti-virus software as they can counter react and defeat the purpose. If you already have good antivirus software, make sure the auto-update and firewall options are turned on.
  • Back Up Your Files
    Symantec reports that ransomware—a method of using encryption to hold critical data hostage for money—increased 35% in 2015. Updating your web applications can help prevent an attack, but it’s important to regularly back-up important files just in case.
    To minimize the impact of a ransomware attack is to immediately disconnect the infected machine(s) from the network, reinstall the operating system and restore from your last good backup copy.
  • Email & Downloads
    Email scams are becoming ever more sophisticated. Spear phishing, for example, is an email that appears to be from an individual or business you know, designed to trick you into revealing personal info.
    It’s important for you and your employees to be wary of anything coming into your inbox. “Never click a link or open an attachment that you did not expect to receive. If you’re not expecting something or must think twice about the contents, don’t open it. Second step is to call and confirm from the sender
  • Install Software & Operating System Updates
    Pop-up reminders to update your web browser or operating system (like Windows or OS) may seem annoying, but don’t ignore them. “Ensure operating systems and applications are always fully patched with the latest security fixes. Updates will help protect you from cyberattacks.
  • Use Strong Passwords                                                                                                                            Weak passwords are an invitation for hackers. Don’t make the mistake of using         simple passwords, using the same password for multiple accounts. And you should change your passwords every 60 to 90 days.Businesses should invest in complex password policies for all their employees. These do not have to be too complex, but they should include a minimum of 10 characters, upper case letter, lower case letter, number and symbol. In addition, all businesses should incorporate some sort of identity theft software for their employees as well, this protects everybody.
  • Use Secure Encrypted Systems to Accept Card Payments
    Never photocopy, hand write, electronically key-in to a terminal, or manually copy credit card information. This is a common practice for orders over the phone, consider a secure online payment system like PayPal to accept transactions. If your systems are compromised, keystroke loggers and other hacking tools can scrape the manually entered information for later attacks.
    In addition, make sure you’ve upgraded to the latest point-of-sale equipment for in-person purchases, many of the POS systems today are using older technology and operating systems like Windows XP that are no longer supported, this leaves you completely vulnerable to attacks.
  • Don’t Bank Over Unsecured Wi-Fi
    Wi-Fi connections at coffee shops, airports and other public places are convenient, but they aren’t secure. Never log into your online banking profile on an unsecured network—it’s all too easy for someone to steal your information that way. Look for little devices with generally 2 antennas sitting next to someone’s laptop or computer, this is called a pineapple, be aware.
    If you are a road warrior and are using public Wi-Fi, invest in a VPN service to secure your transmissions
  • Secure Physical Devices Storing Sensitive Data
    Don’t forget that sensitive data can be physically stolen as well. Computers and drives with private business or customer information should be protected. Assume somebody will steal them and plan accordingly. So, no leaving your computer in the front seat of your car, desk, or anywhere that is accessible to the public, employees who do not have proper clearance, and ALWAYS password protect all your devices, cell phones, laptops, computers, Ipad’s.
  • Train Employees & Yourself
    When it comes to cybersecurity, your actions are more important than any technology. If you have employees, hold regular training to make sure they’re aware of company IT policies, and how to avoid email scams and other types of cyberattacks. Practice what you preach, if you don’t it could put you out of business!


Be in Business -Stay in Business-Grow your Business -essentials you need to do

Be in Business -Stay in Business-Grow your Business –essentials you need to do

Over the years many ups and downs. stress, no money, no access to money, everything that could go wrong -did. I think I have seen, experienced, or heard it all.

But, alas, this is my 21st year in business (a lot of perseverance, bull headedness, and determination), my successes and failures have helped me develop systems that help business stay, develop, and grow their businesses. I have written 6 financial books here is my shameless plug: 16 major awards, “the sexy little book of finance III, it contains personal development, budget’s, investment, and retirement strategies, but also business strategies (2 books in one). My other book, Seminar marketing for sales professionals is still selling from 2003-why?  With all the phishing, email blasts, mailers, nobody pays attention, my book is back to basics for marketing and one on one strategies.

Besides all the major headaches and regulations that affect us in business like 550 filings for 401K plans, ERISA, Section 125 plans, IRS tax filings, and on and on it goes.

Here are things YOU MUST DO:

Whether you are a startup or established

  • Develop a budget, do it on an excel spreadsheet.
  • Develop a detailed business plan and strategy, review your plan at least annually to see if you have met, failed, or exceeded your goals.
  • Develop a marketing plan-how are you going to penetrate the market? Seminars, advertising, mailers, email lists, shows, cold calls, face to face door knocking? Check out your competition to see how they doing and what is effective.

        How do you separate yourself from everyone else? SERVICE






Contact (using a CRM)

Extraordinary product selection

Services and products that fit your client’s needs (a niche market)

Go back to basics: I call it FABASS (my first job with 3M company taught this-what a novel idea)






Keep it simple

  • Join as many organizations as possible, branding is huge (logo, name recognition, etc. Most are free like Manta, Yelp, WordPress, Listen, LinkedIn, Facebook, Yahoo, Twitter, Alignable, Hootsuite
  • Website-must have along with SEO underwriting. Who cares if you have a web if they can’t find it. Reasonable SEO like YEXT and ALEXA
  • Use quicken or other software to pay and track bills and expenses
  • List out your debt, liabilities, and assets in detail – P&L
  • Develop a spread sheet of inventory or merchandise to track costs and profits
  • Make sure if you offer a 401K plan you are in compliance-if you do not use a outside fiduciary (3(38) plan, then you must do the due diligence on fund selections, timeliness of payroll deposits within 7 days or as IRS riles as soon as feasible possible), conducting quarterly meetings, disclose fund costs and fees to employees. Your free 401K plan may come back and put you out business on an IRS, ERISA or DOL audit.
  • 5500 filings for your healthcare plans, most do not do this, (ERISA)
  • Record all credit cards, loans, inventory, cell phones, vehicles, insurance.

You will need all this (at a minimum) if you are applying for a bank loan, or any type of financing, and success. Lenders look at how well prepared, organized, marketing strategies, P&L etc.  you are to help determine if they are going to lend you money.

I have changed my business model many, many times over the years, some through necessity, some through insights to new markets, the key a is never stop learning, and never think you are too successful to change or listen to new ideas.

Frank J. Eberhart, CEP® RFC® Author



Real life story about phishing…Read and heed!

I recently posted my note 5 on Amazon for sale, the sale went like this: all through text messaging.

What condition is your phone in? What is the total price? I am willing to offer $100 plus the actual amount of the postage if you can assure me. Send me a PayPal invoice to my email xxxxxx, once I get the invoice I’ll transfer the money ASAP. The item is for my colleague as a gift but she is currently on vacation so I want you to help me out and ship it to her that is why I have added extra 100 money to. I just transferred the money through PayPal and I got a confirmation in my email and I have been billed.Please help me out and ship it today through usps priority mail international to: fake address in Nigeria.

It went on trying to convince me to ship with other nonsense.

Then I get this: It was a header of mastercard/Visa/American Express/Discover card (you could tell it was just a cut and paste image)

Thank you for using PayPal for your online auctions.  

We at PayPal are ensuring that all our customers and auction site are fraud free. 
In our efforts to secure our merchants, we are now receiving payments for items that are to be shipped internationally through our secure server. This is to ensure that the seller and buyer do their responsibility in every transaction we handle. 
We have now received and confirmed payment from the buyer of your Item. This payment is currently pending to be credited into your account due to the security measures we have taken. You are now required to ship out the item and send us the shipment tracking number for verification of shipment. As soon as we have verified the shipment, your account will be credited with the full payment. This security methods have been taken due to fraudulent sellers
We await the shipment tracking number to us through our tracking email  for verification so we can credit your account immediately. Note that you are advised not to send out the shipment tracking number to the buyer until we have verified the shipment and credited your account.  

Thank you for using PayPal! 
The PayPal Team
 What you should do: This is from PayPal security

Dear Eberhart, Frank,

Thank you for partnering with PayPal to combat fraudulent emails.  We take reports of suspicious email very seriously.  Your submission helps us identify potentially malicious activity and take the appropriate action needed to protect our customers. Did you know that approximately 90% of all email sent worldwide falls into the spoof, phishing, spam, and general junk category?  By submitting reports of suspicious email to us you are helping to address this problem.

Any time you receive an email about activity to your PayPal account, the safest way to confirm the validity is to login directly to the PayPal website and review the relevant section. or call.

PayPal will never do in an email communication:

  1. Send an email to: “Undisclosed Recipients” or more than one email address
  1. Ask you to download a form or file to resolve an issue
  2. Ask to verify an account using personal information such as name, date of birth, driver license, or address
  1. Ask to verify an account using bank account information such as bank name, routing number, or PIN number
  1. Ask to verify an account using credit card information such as credit card number or type, expiration date, ATM PIN number, or CVV2 security code
  1. Ask you for your security question answers without displaying each security question you created
  1. Ask you to ship an item, pay a shipping fee, send a Western Union Money Transfer, or provide a tracking number before the payment received is available in your transaction history

If you have any other questions about PayPal security, please visit the

PayPal Security Center.

Thanks again for your help.

PayPal Security

Same with IRS scams, tax scams, etc. READ the content, usually it is poorly written with repeat or grammatical errors, trying to bypass the originator selling (like Amazon, eBay etc), NEVER ship anything until you have the money in your account.






Roses are Red…but are Violets really blue?

Well, maybe not. In today’s Tech world, what seems to be may not be.

Phishing, credit card fraud, email scams, all have become very sophisticated for sure.

As an example, I just listed my Note 5 on Amazon seller account, within minutes I had a buyer-until I read the response:

Does this sound like something Amazon would write?

Quote: “we hereby inform you that order have been completed for your item and payment have been received from buyer by us on your behalf. An additional 50 for shipping has been added. You can now go ahead and ship item and get back to us with shipping tracking number for shipment verification in other to transfer your payment into your account”.

Obviously, these morons were not very good at it. But many are.

A scammer contacts you out of the blue pretending to be from a legitimate business such a bank, telephone or internet service provider. You may be contacted by email, social media, phone call, or text message.

The scammer asks you to provide or confirm your personal details. For example, the scammer may say that the bank or organization is verifying customer records due to a technical error that wiped-out customer data. Or, they may ask you to fill out a customer survey and offer a prize for participating.

Alternatively, the scammer may alert you to ‘unauthorized or suspicious activity on your account’. You might be told that a large purchase has been made in a foreign country and asked if you authorized the payment. If you reply that you didn’t, the scammer will ask you to confirm your credit card or bank details so the ‘bank’ can investigate. In some cases, the scammer may already have your credit card number and ask you to confirm your identity by quoting the 3 or 4 digit security code printed on the card.

Phishing messages are designed to look genuine, and often copy the format used by the organization the scammer is pretending to represent, including their branding and logo. They will take you to a fake website that looks like the real deal, but has a slightly different address. For example, if the legitimate site is ‘’, the scammer may use an address like ‘’.

You can be sitting in a café or deli or coffee shop, you can be hacked while you are sitting there, it’s called a “pineapple”  the Wi-Fi Pineapple makes man-in-the-middle attacks incredibly easy (click on), look around you and see if anyone is using it.

Pharming – the scammer redirects you to a fake version of a legitimate website you are trying to visit. This is done by infecting your computer with malware which causes you to be redirected to the fake site, even if you type the real address or click on your bookmarked link.

Warning signs

  • You receive an email, text or phone call claiming to be from a bank, telecommunications provider or other business you regularly deal with, asking you to update or verify your details.
  • The email or text message does not address you by your proper name, and may contain typing errors and grammatical mistakes.
  • The website address does not look like the address you usually use and is requesting details the legitimate site does not normally ask for.
  • You notice new icons on your computer screen, or your computer is not as fast as it normally is.

Protect yourself

  • Do not click on any links or open attachments from emails claiming to be from your bank or another trusted organization and asking you to update or verify your details – just press delete.
  • Do an internet search using the names or exact wording of the email or message to check for any references to a scam – many scams can be identified this way.
  • Look for the secure symbol. Secure websites can be identified using ‘https:’ rather than ‘http:’ at the start of the internet address, or a closed padlock or unbroken key icon at the bottom right corner of your browser window. Legitimate websites that ask you to enter confidential information are generally encrypted to protect your details.
  • Never provide your personal, credit card or online account details if you receive a call claiming to be from your bank or any other organization. Instead, ask for their name and contact number and make an independent check with the organization in question before calling back.
  • Watch for anything on your credit card alert that says canteen, they test your credit card in a vending machine, if it works-all hell breaks loose in minutes.
  • Go to your bank (on line) and set up your alerts, I set mine at $1 dollar, anything that hits my credit card I get an instant alert.
  • Subscribe to identity theft programs.
  • Change your password every 90 days.
  • Use credit cards, it is the banks money
  • Debit cards are your money, if scammed it can take months to get your money back.
  • If you use debit card always use it as credit, you have your signature to prove it was or was not you.




Your financial information may not be safe Call tech support at: xxx-xxx-xxxx

I hope this helps, I know I was a victim of identity theft several years ago, and it is not fun to undo, and in some cases, you are wiped out.

I subscribed to LifeLock®Identity Theft Solutions , I was so impressed with their services and protection I became a corporate agency for them. They monitor all 3 bureaus and more.

Good luck and pay attention!

Frank J. Eberhart, CEP® RFC® Author

Identity Theft better gear up…

We are a corporate agency for LifeLock® Identity Theft Solutions another layer we offer to help protect, grow your business and keep you in business!

And I enroll the ultimate plan for myself and family. On an average there are 3 to 5 black market enquiries to my credit every week!

Identity theft has become a national and international epidemic, if you have been to any store that has had a breach (like home depot, target, etc) you are likely to have your identity stolen. The numbers and costs are staggering. Don’t confuse credit card theft with identity theft!

As small business you are a primary target, the average cost of a breach is around $100,000 per location! You need to add a level of protection that safeguards your employees, your business, and your clients. There is no hard costs to you the employer as it is a voluntary benefit-easy application, and all done through payroll deductions for as little as 10 month.

What is Identity Theft Protection Service? Identity theft can be a nightmare that can damage your employees’ finances, credit and even their personal reputation. With identity theft protection from LifeLock, your employees can stay focused on your business while LifeLock stays focused on helping protect them from this every day risk. LifeLock® protection proactively monitors an extensive network for the use of personal information.† If a threat is detected, LifeLock alerts members by phone, email or text before the damage is done.
The Necessary, Voluntary Benefit for Your Employees Your employees are concerned about identity theft, and as their trusted benefits provider, they want you to offer them protection. In fact, 39% of employees said they would be likely to purchase identity theft protection as a benefit through payroll deduction.

With LifeLock identity theft protection, your employees will have peace of mind knowing their identity is being watched 24/7/365.

There were over 12.6 million victims of identity theft at a cost of nearly $21 billion dollars in 2012.2

Identity theft Protection Fits Within Your Benefits Portfolio Your organization is already taking the steps to protect employee data. Give your employees access to the tools that safeguard their information outside of work. Unlike some other benefits you already offer that appeal to limited employee demographics, identity theft protection is a universally relevant, voluntary benefit that all employees need because everyone has an identity to protect.
The many Good reasons to offer lifelock® service

 Employees want it

 No hard costs to employers

 No participation minimums

 Low maintenance administration

 Convenience of payroll deduction

 Many levels of protection to choose from

 Dedicated implementation and marketing support

 industry leading identity Theft Protection
LifeLock offers the most comprehensive identity theft protection to millions of members.† LifeLock service constantly scans billions of data points, searching for potentially fraudulent activity.
 recognized expertise
Law enforcement agencies and victim advocacy groups seek the expertise of LifeLock. Through an affiliation with the FBI Law Enforcement Executive Development Association, LifeLock has conducted extensive training about identity theft prevention for over 1,000 law enforcement agencies from coast to coast.
 Award-winning Product
In 2012, Javelin Strategy & Research named LifeLock Ultimate™ service “Best in Class overall” in identity theft protection solutions. Also recognized was the proactive nature of LifeLock Ultimate service, naming it “Best in Detection”.
 Advanced iD network®
The foundation of LifeLock protection is the only cross-industry compilation of identity information in the U.S. It’s used and trusted by six of the top 10 financial services companies, three of the top four wireless carriers, the Social Security Administration and other identity theft protection services.

lifelock identity Theft Protection LifeLock® identity theft protection helps proactively safeguard personal information and alerts members of potential threats.
lifelock ultimate LifeLock Ultimate™ service is the most comprehensive identity theft protection service ever created and even includes monitoring of new and existing checking and savings accounts.
service features lifelock identity Theft Protection lifelock ultimate Credit Application Alerts† 

 Non-Credit Alerts

 Lost Wallet Protection

 Address Change Verification

 Black Market Website Surveillance

 Reduced Pre-Approved Credit Card Offers

 Award-Winning Member Service 24/7/365

 $1 Million Total Service Guarantee‡

 Alias Name and Address Monitoring

 Court Records Scanning

 File-Sharing Network Searches

 Unauthorized Payday Loan Notifications

 Sex Offender Registry Reports

 Checking and Savings Account Application Alerts

 Bank Account Takeover Alerts

 Enhanced Credit Application Alerts

 Online Annual Credit Reports and Scores

 Monthly Credit Score Tracking  Priority Award-Winning Member Service 24/7/365 
Help Protect Your employees, your business, your clients.

LifeLock Eligibility Minimum Group Size: 2 Minimum Participation: none Individual Eligibility Information:  Valid Social Security number  U.S. resident (includes Puerto Rico and Guam)  Spouse/Children can only be enrolled with the enrollment of the primary  Name, home address, date of birth, Social Security number, email address and phone number are required for each member at the time of enrollment Ages: Protection for employees and spouses age 18+ and children (up to age 26)**
LifeLock Enrollment and Administration Enrollment Methodologies:
Pre-enrollment Employee Communications: LifeLock provides a variety of pre-enrollment employee informational tools to choose from and will work with you to ensure employees are made aware of this valuable benefit.
**As LifeLock Identity Theft Protection and LifeLock Ultimate service are available for adults 18 years of age and older, children under the age of 18 will receive a product designed specifically for minors. On their 18th birthday, children enrolled in LifeLock Junior™ will automatically be upgraded to the same level

Frank J. Eberhart, CEP®, RFC®, Author



General Guidelines to Obtaining a Commercial or Construction Mortgage

Get your plan and information in order before you go shopping for a loan. Here is some preliminary information that will help you secure your financing.

General Loan Requirements

  • Preliminary Analysis Initial Borrower Documents (Need for all > 20% Ownership):
  • Current Personal Financial Statement (All Borrowers) Personal Tax Returns (Last 3 Years)
  • Current Credit Report w/scores (
  • Initial Business Documents Brief Overview of Ownership / Entities and Loan Requested
  • Business Tax Returns (Last 3 Years)
  • Current Balance Sheet YTD Profit and Loss Statement
  • Old Appraisal (if available/applicable)
  • Current Rent Rolls (if applicable)

Construction Loan Requirements

  • Preliminary Analysis Initial Borrower Documents (Need for all > 20% Ownership)
  • Current Personal Financial Statement (All Borrowers)
  • Personal Tax Returns (Last 3 Years)
  • Current Credit Report w/scores (
  • Initial Business Documents Brief Overview of Ownership / Entities and Loan Requested Business Tax Returns (Last 3 Years)
  • Current Balance Sheet YTD Profit and Loss Statement
  • Old Appraisal (if available/applicable) Current Rent Rolls (if applicable)
  • Construction Documents Construction Budget Plans / Layout Feasibility Study Pre-Sales / Marketing Information Principles Resumes Contractor / Subcontractor Detailed Information
  • Proforma Cash Flow and Lease Up Analysis Exit Strategy (if applicable)

Credit Lines (asset based lending) Vs. Factoring Loans

Asset Based Lending Vs. Credit Line

According to the latest statistics, it has been revealed that traditional lending is showing a downward turn and people are showing interest in asset based lending. In fact, growing by the uptrend in the asset based lending, it is expected to grow even more in the future. The overall volume of small business loans has been sliding down according to FDIC.

This downward trend has been noticed since 2008. Recently, the volume of small business loans went down 15% from its peak. Since the year 1999, the number of outstanding small business loans has been continuously declining. The figure currently stands at about 1.5 million as notified by FDCI.

An Asset Based Lending Index is formatted by the Commercial Finance Association and published quarterly. The most recent report indicates there was a 1.8% rise in the total committed asset-based credit lines in the first quarter of the year 2012 in comparison to the previous quarter. Also, as compared to the earlier year, the total credit commitments were up by as much as 7.3%. Moreover, there was an increase in the new credit commitments in more than half of asset-based lenders by almost 55 per cent.
In the first quarter of the year 2012, the utilization of asset-based lender’s credit has jumped to 40.85. The rise was 39.4 per cent in the previous quarter. And in the same quarter in the year 2011, it was 39.1 per cent.
Brian Cove, the CFA’S chief Operating Officer points out that the asset based lenders will continue to take the fore front as the primary source of growth and working capital for the United States as they have managed to maintain throughout the credit crisis and through the recession, if the economy continues to prosper with the same rate.

Asset-based lending comprises of many kinds of loans that can be granted to a borrower wherein some kind of assets serve as the security.

Factoring & asset based lines of credit are the two-common type of asset-based loans which are practiced.

Factoring loan, a factor or a financial institution comes into play which buys the outstanding accounts receivable of the business. Thus, factoring is not a typical kind of loan as it involves sale of receivable and a direct third party involvement in the business. The lending amount that is generally granted by the factor ranges between 70 to 90 percent of the value of the account receivable when this purchase is made.
A factoring fee is taken from the remaining amount and the balance is released when the invoices are collected. Factoring fee can be anywhere between 1.5 to 3 percent, based on risk profile. This fee depends on factors like the risk involved and the number of days for which the funds issued will be used.
A factoring agreement gives freedom to the business to choose which invoices it wants to sell to the factor. Once an invoice is sold, the factor manages the receivable and related collection. The factor becomes a de facto credit manager for the business and performs credit checks, manages payments and other related tasks. The documentation of these payments and analyses of credit reports also becomes the responsibility of the factor.

A Line of Credit loan is more of a typical bank loan with certain notable differences. A traditional loan can be secured through collaterals like equipment, personal assets or real estate, but A/R lending is restricted to securing the loan through trade outstanding account receivable. Under the account receivable lending arrangement, each draw by the borrower results in generation of a borrowing base against which the business can borrow. The lending institution charges a collateral management fee against the outstanding amount. If the funds are advanced, the borrower is charged interest only on the amount which has been borrowed.
An invoice can contribute towards a borrowing base only it is less than 90 days old. There are other eligibility conditions to A/R financing that can be exercised by the lender. These include cross-aged, government customers, international customers and concentration limits on a particular customer. Sometimes, if a particular customer has a higher share in the collateral, the lender can choose to do a background check on that customer to decide the credit worthiness of the business.

Be informed, be prepared, do your homework.

VIP POS System Overview

  • Customizable Software  Open API (3rd party integrations) Hardware With Optional add-ons POS Systems
  • FREE Lifetime Hardware Warranty With Next Day Replacement
  • FREE 24/7 VIP Technical Support
  • FREE Online Reporting From Anywhere
  • FREE Paper
  • FREE Installation
  • FREE Training
  • Breach insurance available
  • PCI compliance fee only $89/year
  • The base package will include the following:
  • POS Elite System
  • Cash Drawer Receipt Printer Keyboard and Mouse 10 Employee Cards
  • Caller Id
  • Barcode Scanner
  • Kitchen Video Systems
  • And More

*FREE Lifetime Hardware Warranty – All hardware replacements will be shipped next day    at no cost

  • Access your sales reports right on the POS system or remotely
  • Add, edit or remove menu items, screen categories, modifiers and modifier categories
  • Track labor and manage employees
  • View statements, chargebacks and deposits
  • Utilize the internal messaging system
  • View “how-to” demonstration videos and quick reference guides right on the POS system

Communicate with the technical support department through the live chat feature

  • VIP “white glove” priority service – From the time the account is submitted, through programming, installation and ongoing support
  • FREE 24/7 technical support
  • FREE 24/7 customer service
  • FREE remote support – The support team can log in to your system to remotely to instantly repair any software issues you may experience


  •  Onsite Installation – Experienced and certified installation professionals ensure you are up and running
  • Comprehensive Training – Preliminary onsite training and extensive remote training to make sure you are proficient
  • Certified Tier 3 Technicians – Highly trained techs and supervisors to provide a superior experience EVERYTIME
  • Convenient Scheduling – We work around your schedule to complete the installation, avoiding any business disruptions


  • Our Elite POS Systems are shipped with end-to-end encryption compatible card readers.
  • PCI Compliance is ONLY $89 a year.

Should non compliance occur, we will waive your obligation to pay up to $50,000 worth of non compliance related fines, levy’s, and assessments incurred as a result

Includes unlimited PCI System Scans

Ripoff Report Verified™ REVIEW: Harbortouch POS Systems/First Data/Global/Paymentech

Editor’s UPDATE: Positive rating and recognition has been given to Harbortouch for its commitment to excellence in customer service.

Ripoff Report’s discussions with Harbortouch have uncovered an ongoing commitment by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any complaints or concerns. Harbortouch listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.

A BBB Accredited Business since 8/28/2007

BBB has determined that Bank Card Systems, Inc. meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.

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Frank J. Eberhart, CEP® RFC® Author 973-479-2558