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Wednesday
Jan012020

Blogging


                           To blog or not to blog?

Dear Vistitors,

We initially started blogging many years ago, our main motivation was to provide our visitors with great content posted in a timely fashion. We maintained our blog for several years and enjoyed posting many timely, interesting articles on a variety of different topics.

Now many years later our business has increased multiple-fold and we quickly realized our blogging efforts are better spent in other areas of our business. We now leave the blogging up to the journalists and other content providers on the internet while we continue to focus on our clients, providing them much needed capital each day.

Please feel free to browse our older blog posts below and be sure to reach out if we can help in any way. 


Sincerely,
FACTOR KING®

 

 

Monday
Jun162014

FACTOR KING Attends Small Business Expo NYC

FACTOR KING® was one of this year’s exhibitors at Small Business Expo NYC and was on hand to talk about how Factoring can increase cash flow through a quick and easy approval process.

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Friday
May302014

Avoid These Common Construction Industry Cash Management Mistakes

Construction industry finance management can be a challenging task. Unpredictable events related to weather, unforeseen changes in subcontractor availability, and unexpected construction supply price increases can have detrimental effects to cash flow and ultimately the bottom line. In order to ensure your construction business maintains a healthy cash flow, avoid these common construction industry cash management mistakes.

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Wednesday
May212014

Internet Security: How to Avoid Hacks to Your Website and Data

A recent global cyber crackdown resulted in the arrest of nearly 100 hackers involved in some type of cyber crime. With the growing concern of internet security, it’s more important than ever for businesses to make sure their systems are as secure as possible to prevent any malware attempts or other cyber attacks. Target learned that the hard way last year when they missed malware warning signs, and over 40 million of their customers’ credit card information was stolen in the biggest retail hack in U.S. History. The following practical tips will help your business protect itself from online threats.

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Thursday
May152014

3 Tips for Keeping Climate Change from Affecting Your Business

While there is some controversy as to the causes of climate change, it’s no question that severe weather events can affect business operations. Tornados in the midwest, hurricanes in coastal areas and blizzards in winter can halt business activities for days at a time. It’s important that your business is prepared to weather these storms in the best possible way. Use these three tips to ensure your business or organization is prepared for emergencies when they arise.

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Tuesday
May062014

What Not to Say If You’re The Boss

After Donald Sterling’s racist comments and removal from all involvement in the NBA, it’s more important than ever for bosses to monitor what they say and how they say it. Words have power, and in order to be an effective leader, there are certain things you just DON’T say - especially if you’re at the helm of a successful business. The following is a list of what not to say if you’re the boss.

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Wednesday
Apr302014

Bitcoin for Small Business

Bitcoin has gotten a lot of media attention lately related to both its growing popularity as a payment solution and the rise and fall of its value price. Below we explore Bitcoin and the implications of it as it pertains to small businesses. In addition, we offer a tips for businesses who want to start accepting Bitcoin as a viable payment option.

What is Bitcoin?
Bitcoin is a digital currency in which transactions can be performed without the need for a central bank. Bitcoins can be purchased on an exchange and are stored in a digital wallet in the cloud or on a user’s computer. The owner of the wallet is provided a private key which is required to prove ownership. If a private key is lost, the user cannot prove ownership by other means. The coins are then lost and cannot be recovered.

While bitcoin is not yet recognized as a “currency”, it is similar to accepting payment in other forms, such as cash, gift cards or foreign currency. Bitcoin offers an anonymous way to pay for goods and services, as payments transacts through a private online account. Transactions are recorded on a public log but names are kept private, and instead each transaction is tied to its digital wallet id.

Tips for Businesses Who Accept Bitcoins

  • As your business initially starts to accept bitcoin, you may find that the easiest way is to accept it only for the purchase of gift cards, and then require the gift cards to be used for actual purchases of goods or services. By doing it this way, you can use established accounting practices to track receivables.
  • If you mail invoices, you may want to indicate that you accept bitcoin on the invoice itself, along with instructions to access the unique bitcoin address to which to send payment. It is recommended that you change this address with each new invoice for tracking and security purposes.
  • In order to reduce the risk of fraudulent use of bit coin, avoid letting people try to type Bitcoin addresses off payment stubs - instead, force people to get the full Bitcoin address from your website via secure SSL.
  • The value of a bitcoin can fluctuate. Therefore, it is recommended that you disclose payment terms on your invoice clearly and specifically - For example, if your invoice is for $100 and bitcoins are currently worth $1.24 each, your invoice might suggest that it can be paid in full "with a payment of 80.65 BTC if paid by (date)”.
  • Bitcoin Merchant Services are also available that will assist in processing a transaction. A list of options can be found here.


While it may take some time to become a common form of payment given the reluctance of banks to adopt it and the fraudulent activity that surrounds it, Bitcoin remains a viable payment option of the future. As such, it’s important for small businesses to be at the forefront of this technology in order to remain competitive in the marketplace.

About FACTOR KING®
At Factor King®,  our mission is to provide crucial funding to small and middle tier companies that may or may not have access to adequate bank financing. Through our leverage of various technologies, our systems and procedures provide fast and accurate factoring, simple order processing, and ease of use - allowing our clients to focus on building their core business. Client growth is how we measure our own success.  Apply now to convert your company’s assets into immediate cash!

Related Articles:
Customers Don’t Pay On Time? These Tips for Collecting on Overdue Accounts Can Help!
Startup Capital: Top Ten Benefits of Factoring Invoices
5 Tips for Managing Invoiced Receivables

Tuesday
Apr222014

The Impact of Obamacare on Small Business

There is no question that The Affordable Care Act will affect small businesses, and business owners need to be familiar with the overall impact of Obamacare on their bottom line. From changes to the business health insurance system to required employee education and possible tax breaks, Obamacare is complex and will effect all types of businesses. If you own a small business, here are some primary considerations to take into account as you navigate this new era of healthcare offerings.

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Wednesday
Apr162014

The Short But Sweet Guide To Google Places For Business

Considering 85% of consumers search the Internet for local businesses, securing a Places listing is vital to remaining competitive. Here are some of the benefits of having a Google Places listing for your small business:

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Tuesday
Apr012014

Important Sales Metrics for Small Business

Sales revenue is typically the first metric to consider when measuring the overall success of a small business. However, there are several other metrics not to overlook when gauging the health of your business.

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Tuesday
Mar252014

Small Business Tax Pitfalls to Avoid

Small business tax reporting pitfalls generally fall into the category of forgotten credits and deductions, as well as improper form use. The following tips can steer you away from such mistakes.

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Wednesday
Mar192014

SXSW Interactive - Technology for Small Business

SXSW Interactive kicked off last week in Austin, Texas. Attended by 30,000 digital media industry professionals including tech startup founders, digital strategists, and venture capitalists, this trade show is unlike any other and offers a great opportunity to come to market with the next great digital product.  In fact, many digital startups have been successfully launched here, including Twitter!

For the rest of us, what can a small business learn from SXSW?

  • Stay on Top of the Latest Technology:  Technology moves at warp speed these days, and as a small business owner, it can be difficult to sort through the many apps, social media websites, SaaS products, and digital media that are available to small businesses. SXSW Interactive is a great resource to determine the leaders in any given interactive space, so that you can make a solid choice for what technologies you will use to support your business.
  • Advice from Top Technology Leaders: SXSW Interactive gives your business access to the foremost experts in technology. For example, this year, Edward Snowden spoke about what to watch for in order to better secure your small business online.
  • Opportunity for Brand Exposure: If you’re a small business in the digital space, SXSW Interactive is an ideal opportunity for brand exposure and professional networking. And if you can’t afford the hefty sponsorship fees for SXSW, you can attend seminars that will show you how to get that same type of brand exposure online - which we’ve already touched on in our post, “5 Strategies for Building a Strong Personal Brand Online.”


About FACTOR KING®
At Factor King®, through our leverage of various technologies, our systems and procedures provide fast and accurate factoring, simple order processing, and ease of use - allowing our clients to focus on building their core business. Client growth is how we measure our own success.  Apply now to convert your company’s assets into immediate cash!


Related Articles:
8 Mobile Apps for Small Business
Startup Capital: Sources of New Business Funding
5 Tips for Managing Invoiced Receivables

Tuesday
Mar042014

In the News: Top Stories in Business and Finance - February 2014

Factor King offers this quick monthly rollup of important stories related to business and finance. We also track leading economic indicators each month giving you a quick snapshot of the status of the economy. This is your update for February 2014.

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Wednesday
Feb262014

Managing Labor Costs Without Sacrificing Employee Loyalty

As you try to implement plans for labor cost management, its important to make sure you do so in a way that does not erode employee good faith. The following are tips for managing labor costs without sacrificing employee loyalty.

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Tuesday
Feb182014

Factor King® Successfully Establishes Construction Finance Division

Factor King® LLC, a New York based commercial finance company that serves a nation-wide client base, announced the successful establishment of a new construction finance division. One year after this beta program was launched in limited markets, the new division has issued revolving credit lines totaling over 60 million dollars (based on 30-day rollovers). That figure is expected to increase dramatically in 2014 based on current demand and as Factor King expands the program into the rest of the US markets.

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Tuesday
Feb112014

Customers Don’t Pay On Time? These Tips for Collecting on Overdue Accounts Can Help

Maintaining positive cash flow is one of the biggest challenges for a small business. This can be especially challenging if customers do not pay on time. The following are tips for collecting on past due accounts receivables to ensure your business continues to operate successfully.

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Tuesday
Feb042014

Top Stories in Business and Finance - January 2014

FACTOR KING® offers this quick monthly rollup of important stories related to business and finance. We also track leading economic indicators each month giving you a quick snapshot of the status of the economy. This is the top business and financial news for January 2014.

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Wednesday
Jan222014

3 Business Tips for Getting Organized for Tax Season

Tax season is upon us, and it’s important that businesses of all types are prepared. From keeping track of business tax receipts to filing the correct tax forms in a timely manner, Factor King is here to help with these tips for getting organized this tax filing season!

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Tuesday
Jan142014

Startup Capital: Top Ten Benefits of Factoring Invoices

Factoring invoices as a source of cash flow is covered in our final article of this series. Here we list the top ten reasons to choose factoring over other sources of business funding:

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Wednesday
Jan082014

In the News: Top Stories in Business and Finance - December 2013

Factor King offers this quick monthly rollup of important stories related to business and finance. We also track leading economic indicators each month giving you a quick snapshot of the status of the economy.

Click to read more ...