An Elemental Guide to Shopping Center Financing

Since we haven’t fully recovered from the credit slump, finding shopping center financing through banks is getting to be quite a challenge, especially when banks have been denying credit middle of the process in some cases. However, do know that while getting a loan for shopping center might seem like an uphill battle, it is possible. And this holds true for various types of shopping retail centers such as strip centers, retail centers, super malls, regional malls, and so on.

There are instances that credit worthy borrowers with good financials and experience are getting turned down in their loan applications for retail center financing, and it wouldn’t be out of place to say that a number of deserving candidates get left out, simply because they haven’t used the right approach. Remember that looking for a shopping center loan can be difficult, and seeking professional help would certainly not be out of place. After all, owing large loan amounts, the relatively high interest rates and closing costs can leave the borrower in need of help.

Factors to be considered at the Onset:

While running a shopping/retail center can be quite profitable and rewarding, it is important that you consider various aspects before you even look for shopping center financing or retail center financing. Even though the investment will be significant, take into account costs that will be incurred otherwise, and these would include costs for tenant improvements, Leasing commission if the property has vacancy, repairs, insurance, taxes, and advertising. Ensure that the building codes have been adhered to and that all the required permits are in place. You also need to delve into factors such as location, project viability; and only then should you think about the type of loan.

The Loan Size:

Large balance loans start at $1M and can go up to $4M, and loans less than $1M but higher can $400,000 come under small balance loans. SBA financing for owner user retail center, is available up to $4M, and in both cases a down payment of around 25% should be expected. Note that in case of SBA loans; the down payment would come down to around 10%. Additionally, while large balance loans come with fixed rate and variable rate interest options, the small balance loans only offers the fixed rate option.

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Growing Business With CNC Machining Centers and Their Financing

The CNC machining center is an almost indispensable piece of equipment when one talks about the machining industry. The reason for its great importance is that in machining, there are three major functions that you need to do: make the blueprints, draw the engineering bit and then finally cutting the material. The machining center gives you the tools to carry out all these functions. Read on to find out more on their uses and how you can get one with the correct CNC machining center financing.

o The machining center uses two motions – relative motion (between tool and machine) and primary motion (the cutting motion or cutting speed). Actually, there is also a third kind of motion which is the secondary motion, sometimes known as the “feed”.

o To replicate the engineering drawing identically on the object, these three motions are very important. If anything goes wrong in any of these three processes, your product could turn out inaccurately.

o The machining systems usually use techniques like tuning, milling, drilling and grinding. For all these functions, the CNC machining center is your best bet. CNC, or the Computer Numeric Control, machine allows you a very sophisticated level of control, as compared to the previous NC, or Numeric Control, machines.

o A drilling press is a good example of a CNC machine’s functionality. You have the basic purpose of drilling holes, but which has to be reached through a series of smaller processes. These include steps like chuck loosening, installation of the drill, getting to the actual job of drilling the hole and many a nitty-gritty. Manual work forces you to go through these steps one by one. This on a large scale will mean multiplying the processes and the time they take manifold.

o Now, in the above example, if you replace the manual labor with a CNC machine then all you need to is put in numerical instructions and your work is done in seconds, and with complete accuracy.

o But there is a certain degree of programming your CNC machine which requires a little time and effort. You need to put in a list of instructions for your machine to work accurately and this has to be thought out well.

o CNC machines are especially useful when it comes to heavy industries like those of metal. Drilling, grinding and cutting of metals can be done easily and quickly with a CNC machine

o But a major problem is obtaining the machines as they are very expensive. Here you can opt for CNC machining centers financing.

o Your business needs these machines to grow and prosper, so you shouldn’t overlook getting them for yourself. If money is a problem then there is always financing.

Not only will these CNC machines help your work be of better quality, they will help you save time and money. If your business is too small to afford the equipment by itself, try looking for CNC machining centers financing to help you out. You will start raising your profits almost instantly, without a doubt.

Hong Kong International Finance Centre Building

Within the myriad of skyscrapers and soaring buildings distributed on the islands, the International Finance Centre is the tallest building in Hong Kong. The International Finance Centre, which is branded as “IFC”, is an integrated commercial development on the famous waterfront area of Hong Kong’s Central District.

To be the tallest building in Hong Kong is of course, an international prestige, and the sheer size and height makes it a very prominent landmark on the Island. The International Finance Centre boasts of grandeur and splendor as it stands out from all the other tall buildings in the city.

IFC basically consists of two skyscrapers. Tower One consists of the IFC mall and the forty-storey Four Seasons Hotel Hong Kong. The 88 storey Tower Two International Finance Centre is the tallest building in Hong Kong, usurping the place that was once occupied by the infamous Central Plaza.

The complex was developed by a consortium lead by Sun Hung Kai Properties & MTR Corporation. In addition, the Airport Express Station Central is directly beneath it, providing more convenient transportation especially for traveling businessmen.

The One International Finance Centre was completed in 1998 and opened in 1999. Its height is 210 meters, has a 38-storey building with a four-floor trading, 18 high speed passenger lifts in 4 zones, and comprises 784,000 square feet, or approximately 72,850 square meters. The building currently accommodates approximately 5,000 people.

Of the two skyscrapers that make up the International Finance Center building, the Two International Finance Centre is the tallest building in the city. It was designed by Cesar Pelli and completed in 2003. Its height measures approximately at 415 meters. It has 88 storeys, which is an extremely auspicious number for the Cantonese culture.

True to its name it contains twenty-two high-ceiling trading floors. The Monetary Authority (HKMA) is located at the 55th floor. The whole complex is equipped with state of the art telecommunications, raised floors for flexible cabling management, and nearly column-free floor plans. The building expects to accommodate up to 15,000 people, when all offices and floors are fully occupied.

Due to Cantonese culture and beliefs, the 88 storeys of the building may not be exactly eighty-eight (88). Why? Because of superstitious reasons, “taboo floors” like 14 and 24 are omitted because these numbers, according to Cantonese culture, sound like “definitely die” and “easy to die” respectively.

The top floor of the Two IFC is only slightly higher than Hong Kong city’s landmark, the Peak. Two IFC is the third tallest building in the Greater China region and the 6th tallest office building in the world.

Medical Accounts Receivable Financing-Stat

According to the U.S National Library of Medicine and the National Institutes of Health Medline dictionary the word “stat is an adverb for the latin word: STATIM. Statim is an adverb that means immediately or without delay. When a persons arrives at the hospital emergency room with a gunshot wound, the staff might say, “We need to get this patient to surgery stat!” meaning immediately, now. In a medical situation “stat” connotes extreme urgency. Does your medical business need to accelerate cash flow with accounts receivable financing “stat”?

One of the greatest challenges for medical professionals is managing their accounts receivable. Medical accounts receivable typically are the largest asset on their balance sheet. It typically takes 60 to 120 days or more to collect medical accounts receivable because of the long reimbursement process from third party payors, such as Medicare, Medicaid, and commercial insurance companies. The collection process is long and complex. Disputes regarding payment amounts are common. Medical accounts receivable financing accelerates cash flow to pay for expenses such as payroll, malpractice insurance, rent, inventory and advertising.

What are the types of medical professionals that may qualify for medical accounts receivable financing? The following is a partial list: hospitals, medical centers, rehabilitation centers, medical laboratories, surgical centers, sports medicine centers, MRI imaging centers, physical therapy centers, substance abuse clinics, physical therapy centers, manufacturers and/or distributors of medical devices, and physician’s practices whether general or specialized from A to Z such as anesthesiologists, gastroenterologists, obstetricians, and Zygote – Morula Specialists.

How lengthy is the process to obtain medical accounts receivable? It generally takes four to eight weeks to obtain funding because of the unique issues presented. The commercial finance company must perform extensive audits and analysis of the prospective client’s financial situation. They need to determine that the business is and will be a “going concern”. They need to examine billing practices which often are outsourced. This may require a separate audit of a third party. And they need to examine the forseeability of collection of the outstanding accounts receivable by auditing the accounts receivable aging reports from a historical collection perspective. In other words, how much of the amounts owed will be collection losses? How much will actually be collected?

What are other unique issues regarding medical accounts receivable financing? There are potential bankruptcy issues, lien priority issues and the “big bad wolf” issue: after a commercial finance company has purchased medical accounts receivable, the federal government can assert lien priority on the assets of a bankrupt medical company. One example of this is the case of American Investment Financial (“AFI”) versus the US also known as the internal revenue service.

AFI loaned over $800,000 to a pediatric and urgent care clinic. The clinic defaulted on their financial obligations to AFI and also defaulted on their tax obligations to the federal government. It was undisputed that AFI had followed the rules correctly in terms of filing their liens and perfecting their security interests. Nevertheless, the court held that pursuant to Federal law, after a 45 day statutory safe harbor period had passed, the government’s lien took priority. AFI lost hundreds of thousands of dollars because of federal tax law and IRS regulations. It is no wonder that commercial finance companies look very carefully before they purchase medical accounts receivable.

Commercial finance companies will generally advance an amount equal to 70% to 80% of a borrowing base, which may be called “the aggregate amount of eligible accounts”, “net realized value” or “net expected collections”. You can expect the following items to be excluded from your borrowing base: accounts which are subject to dispute, counterclaim or setoff; accounts of any account debtor who has filed or has filed against it a petition in bankruptcy; accounts owed directly by patients or customers.

The bottom line: medical accounts receivable financing, or medical factoring, is more difficult to obtain than other types of factoring because of the legal risks and business risks faced by the lenders. The process to obtain medical accounts financing usually takes much longer than accounts receivable financing for other industries, such as a manufacturer. This good news is, once the credit facility is established, funding can take place in a day or less from your request for financing. You can have medical accounts receivable financing “stat”!

Fitness And Exercise Equipment Financing

Fitness and exercise equipment pieces are inevitable in a gym or fitness center. There are various types of equipment like treadmill, exercise bike etc which are generally expensive. Thus, fitness and exercise equipment financing is called for quite often.

Treadmill is the most important equipment for any gym or fitness center. It helps to burn excessive fat and to give the body a proper shape. It is versatile equipment which can serve useful for different weights of people. Nowadays treadmills come with specialized features like heart rate monitors, computers, fans etc. These extra features add to the cost of the equipment and so fitness and exercise equipment financing is the best way to acquire treadmills.

Rowing machine provides the best ways to work the entire body. It helps build muscles and also burn calories. Since it offers number of benefits, it is quite expensive. Many gym owners therefore find it wise to go for financing to purchase this equipment.

Weight machines play a vital role in fitness centers and health clubs. It is very simple to learn the techniques to operate these machines. The users find it a comfortable to use these weight machines within a few days. Due to their special features, they cost more and so fitness and exercise equipment financing is the best option to buy it.

Exercise bikes are perfect for doing cardiac work outs. They help in toning and strengthening leg muscles. They have comfortable seating which helps reduce stress. In fact exercise bikes are one of the pain free work outs. Hence they are desirable by many gym owners. However they are extremely expensive and so many gym or fitness center owners look for exercise bike financing to acquire sophisticated and well-enhanced exercise bikes.

Stepper machine is very easy to operate and it helps strengthening the leg muscles. People can do the work out easily with the stepper machine by watching TV or enjoying their favorite music. It occupies less space and so it is often desirable by owners of gyms and fitness centers which operate in limited space. For those who want to acquire number of stepper machines, fitness and exercise equipment financing is the best option.

Gym rack system helps to strengthen the entire body. They are durable and versatile. Hence they are quite pricey and gym rack system financing is often preferred by gym owners to acquire them.

Elliptical machine is perfect for doing cardiac work outs without any injury or pain. It helps to reduce the stress of the body to do the work outs. Since it has numerous benefits, it is expensive and financing fitness and exercise equipment is often desirable.

Focus On The Walk Not The Talk

Leading by example is precisely why leaders focus on always doing exactly what they say. Your actions should be aligned with what you are saying. Although, it’s tough to practice what you preach; you need to model the change in behavior you want to see. The core of focusing on the walk not the talk is to be the change you want to see in others.

In other words, you need to assess your own behavior first before communicating these changes to your fellow because changing habitual practices isn’t as easy as simply making a choice. It’s very important for a leader to be consistent with their actions. The single most essential component to effective management is trust. Everything will go out the window when trust is lost. And in the eyes of most people, a lie is a lie.

Too often leaders want to run and/or hide from their mistakes. Don’t make excuses, but be clear that you recognize where you went wrong. Being sorry isn’t admission of defeat. It revisits the human aspect that people screw up for a superfluity of reasons. You are not an exemption. It is a great start to admit your mistakes and apologize. However, be clear in asking for support in moving forward. If you choose to ignore it than acknowledge it, don’t be flabbergasted if things don’t get better.

Show people what the organizational values mean through your behaviors. People learn by observing their leaders. You must focus on your walk more than your talk. Bringing values to life is a behavioral issue because you are a role model for your people. Your values can be seen in terms of your behavior, where you go, what you say, how you spend your time and how you deal with problems and crises.

Actions speak louder than words. Everyone has lapses. Make sure that you acknowledge whenever you find yourself off track and in breach of values. When problems catch you off-balance, your immediate reaction might be contrary to your personal or organizational values system. Remember, subordinates follow your lead.

As a leader, you need to help your people succeed. You must smooth the way for them because there are always impediments and obstacles to achieving goals. You must identify these barriers, remove or lessen them, or show your members how to deal with those that can’t be removed.

People desire for recognition. The main reason why people leave their jobs is that they don’t feel appreciated. Recognizing a worthwhile behavior is the single best way to ensure organizational commitment. Although none of us would work for less money than we feel is fair, money alone isn’t enough for encouraging long-term high performance. People cannot be motivated when they feel that what they are asked to do is worthless or contrary to their fundamental values.

Most of us want to feel that we are valued as people, not just mere staff. We want to be respected for who we are, not simply for what we do. We also respond positively to be with others who share similar beliefs and with whom we can build relationships. That’s the very reason why we need to focus on the walk not the talk.