Economic
Stimulus Package -- $35000
loans available for small businesses
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Need a little
extra capital to weather the
recession?
The economic stimulus package has a
little-known, but fantastic program
to extend up to $35000 to small
businesses that need a little extra
help.
The Small Business Administration
will guarantee 100 percent of loans
of up to $35,000 issued by banks to
small businesses that are struggling
to make payments on existing debt.
The SBA will subsidize the interest
on the loan, and small businesses
will have a year before they have to
start repaying it.
We spoke with an executive of a
national bank with a large SBA
program, she said "these loans
should be easy to get because they
are 100% backed by the government,
so the bank isn't risking any of its
capital."
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 Testimonial |
| "My
CPA loved the year end tax package
that you sent. The package
was so complete and accurate that she
wished all her clients would use
OnePoint. Expect her to call with
referrals."
Patricia,
busy restauranteur
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 eNewsletter |
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We hope you enjoy news from OnePoint
and are pleased to bring back this
publication after much too long
hiatus. We work hard to be
"your offsite online accounting
department that feels like it is
down the hall" and welcome your
comments.
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Paper
or Plastic?
Paper or Plastic? No, we're not talking
about bagging your groceries -- we're
talking about paychecks. Do you
still have employees who still get
paper paychecks? Use this Visa
PAYCHEK PLUS card to bring the
advantages of direct deposit to
employees without bank accounts.
No more check cashing hassles. No
more check signing. No more lost or
stolen checks. No more anxiety of
making sure paychecks arrive by payday.
Your employees' pay can be
electronically deposited to a Visa
PAYCHEK PLUS card in a process that
mirrors traditional direct deposit to
a bank account. The Visa PAYCHEK PLUS
is not a credit card and everyone
qualifies. Your employees can use
the Visa PAYCHEK PLUS card
wherever VISA is accepted and at ATMs
everywhere.
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Nurturing
Great Vendor Relationships
Your vendors are an important part
of your business and the
relationship with your key vendors
should be built, nourished and
periodically evaluated. Take a
few minutes to pick up the phone and
review your account with all your
key vendors.  If
you've always had the good fortune
to promptly pay your account, ask
your vendor if you may be eligible
for a discount and better payment
terms. If you have been slow
to pay at times, make sure your
vendor knows that they are a
priority and you are working to
improve your cash flow in order to
pay within the terms of your
account. If you anticipate
rough times ahead, talk to your
vendors in advance. They are
more willing to work with you before
you get behind than if you wait
until your balances are past due. Also,
keep in mind that you can designate
vendors as "HOT-can't be
late", "If late, there are
consequences" and "No
consequences if late" to help
you manage your cash flow.
Other suggestions: (1) give feedback
about what works and what doesn't -
your vendor may have solutions to
offer if you have any
issues with their service or
products; (2) offer your testimonial
for exceptional vendors or vendors
that take good care of you; or (3)
ask if there are additional products
or services that might be
appropriate for your business.
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| Don't
Pay TOO MUCH! |
You
could be paying too much for merchant
processing fees. So many
companies offer a low discount rate
only to find out you are paying too
much in transaction fees,
authorization fees, gateway fees, etc.
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General
Rule of Thumb - if
your total fees exceed 2.25% of your
total credit card submissions, you
are paying too much. Call us
for a complimentary analysis of your
merchant statement.
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Sincerely,
Michelle Denton, Corporate
Contact
OnePoint BPO
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