Merchant Cash Advance – An Excellent Solution for Businesses With Credit Card Sales

A friend of mine opened up a restaurant in New York near a decent locality. With the real estate prices being on the rise, he used a major portion of his savings to pay up for the deposit and the advance rent. The rest was used in buying the necessary appliances and equipment. He still needed cash for the interiors, salaries and the other operating expenses.

He didn’t want to close down the place because it had started doing good business. However, he had to do something immediately about the furniture and the operating costs to stop customers from moving away. That’s when I told him about Merchant Cash Advances!

I am in a business that has been selling merchant cash advance leads for quite some time now. We save the details of businesses that are in need of cash, find out if they need any cash advances and sell these merchant cash advance live leads to our clients. We are in touch with many advance providers who are very interested in buying such merchant cash advance live transfers from us. I introduced my friend to one of these clients and within no time my friend got his cash that he wanted for his business.

The procedure was very simple and the formalities, very few. All he had to do was to prove that he had credit card transactions and the volume was quite decent. The Merchant cash advance provider was well-aware of the restaurant and was convinced of the fact that he would get his money back. So, three days is all that my friend had to wait to get his cash advance.

Once he had taken care of all his expenses, his customers grew and business became even better. He didn’t have to worry about depositing cash in the bank or making payment to the merchant cash advance provider. As soon as he swiped a credit card against the bill, a pre-agreed percentage of the amount would automatically get transferred to the advance provider’s account. Although he had to pay set up fees and a couple other costs, things were extremely convenient.

There was no pressure from the cash provider to repay the advance. There was no deadline involved. Cash would be credited to his account as and when credit card transactions happened. My friend did not have to face any problems of not being able to meet his operating costs again. He was extremely thankful to me and all that I had done was introduce him to one of my clients who bought merchant cash advance real time leads from our company.

Benefits of Merchant Cash Advances (MCAs):

MCAs can work very well for retail shops, hotels, restaurants and travel agencies that have a lot of credit card sales volume. The main benefits associated with these cash advances include:

No Fixed Monthly Payments

For one thing, a merchant cash advance is not a loan that requires you to make fixed monthly payments, whether you can afford them or not. You don’t have to worry too much about them.

Payments become very convenient

You pay a percentage of your daily credit card sales depending upon the volume. The payments, as explained above, are very convenient to make as they happen automatically.

Fast Cash

The best thing about MCAs is the time taken to process them. All that the provider is interested in, would be your credit card sales volume and if you can prove you have good volume, you get the cash immediately. There is no need to worry about credit score and other documentations.

You don’t feel the pinch

Since there is no fixed amount that is to be paid daily, you don’t really feel the pinch of paying back the loan here. You need not worry about saving up the amount needed to pay back the provider.

An MCA can definitely be beneficial for many businesses, which are in need of urgent cash to take care of their expenses. However there are certain things these businesses have to consider before applying for such an advance.

First thing is they have to make sure their credit card sales volume is very high and they are left with enough money to take care of their operating costs after paying back the provider. Another thing they have to understand is that there are many kinds of costs involved with MCAs. It may prove costlier than a regular loan. The percentage of the credit card sales they have to pay is also quite high.

Posted in Uncategorized | Comments Off

Cash Advance Credit Cards: You Should Know About These Costs

While cash advance credit cards allow you to use part of your credit line to withdraw cash, there are a number of fees and fine print issues that must be considered before proceeding with a cash advance. Getting a cash advance from your credit card is easier than ever. However, one must be aware of the expenses associated with taking a cash advance before inserting their credit card into an ATM. While there are a limited amounted of credit cards that offer 0% cash advances for 1 year, most charge much higher interest rates on cash advances than they do on regular purchases.

First off, there is a 99% chance of being charged a cash advance fee. Of the over 70 credit cards covered on Credit Card Depot, I could not find a single card that charged less than a 2.9% cash advance fee. Some cards even impose a $10 minimum fee. That means the cash advance fee can be 5-10% if you are only taking $100 or $200. Taking out less than $300, therefore, can be expensive.

Now, unless you take advantage of a 0% interest cash advance offer, you will also be charged a higher interest rate on the money you take out. For example, a very popular credit card with a variable 11.24% interest rate on purchases charges 23.49% on cash advances. This is not the exception, but the rule. Regardless of your credit, you will likely be charged 23% or higher on your cash advance balance.

There’s another sticky issue here. When you repay your credit card, your dollars go first to the balance that is being charged the lowest interest rate. For example, let’s say you have a $2000 balance from purchases at 11.24% and a $1000 balance from cash advances at 23.49%. Until you have paid off the $2000 from purchases, you will continue to pay the higher interest rate on your cash advance. This is an unfortunate trap many cash advance users fall into.

Now, there are ways to limit the expense of taking a cash advance from your credit card. First, you can find offers that will give you a 0% interest rate for 1 year. At the end of that year, you can pay the cash advance balance in full or, if your credit is good enough, transfer that balance to a 0% balance transfer credit card. However, if you do not repay the cash advance, you will get hit with an interest rate in the mid to high 20% range. Also, you may be charged a balance transfer fee.

If you have a balance on your current credit card, it is probably better to get a new credit card for your cash advance to avoid the messy interest rate situation having purchases and cash advances on the same card creates. Also, if you cannot repay the cash advance in a short period of time, you could transfer the balance to your current credit card and pay a much lower interest rate on your cash advance.

Taking a cash advance from your credit card does cost money. However, the wise use of a cash advance can limit the astronomical expense taking a cash advance often entails. By taking interest rates, cash advance fees, and the fact that paying off a cash advance on a credit card with a balance is not that easy into consideration, one can effectively use a cash advance credit card without falling prey to the traps in your credit card’s fine print.

Posted in Uncategorized | Comments Off

Prepare a Quality Business Analyst Resume

A business analyst is a professional who has a deeper understanding of business processes, and utilizes such knowledge to help organizations succeed and move forward.

As part of the management, he or she helps organize the company to keep it profitable. He or she plays an important role in the corporate world, analyzing checks and balances to determine the current status of a business organization.

Understanding the job

Some of the activities of a business analyst include: identifying problems, formulating solutions, collecting data, preparing reports, conducting market analysis and risk management, implementing software and strategy development, managing projects, setting up anti-fraud system, and conducting cost control, among others.

Though it may vary from organization to organization, according to, the business analyst might perform the following tasks: understand what the business does and how it does it, determine how to improve existing business processes, determine which tasks/steps to automate (get the requirements), design the features of IT system (create functional specifications), and implement the new features of the IT system (technical design). To obtain this job, a business analyst resume is necessary.

Qualities for the job

To be able to work effectively, believes business analysts need to possess the following qualities:

- They should be able to understand each business as a separate entity

- They should be able to understand the market that they are targeting

- They should be methodical in their thinking

- Business analysts should have great analytical skills that enable them to not only predict future market trends but to understand problems presented to them

- They should have the ability to think fast on their feet

- They should have great problem solving skills

- They should be good communicators in order to avoid confrontation with management and shareholders on the basis of poor communication

- They must work great with teams

- They should have leadership qualities that enable them to drive these teams toward getting results

- They should have the ability to take rejection of their proposals. Even after spending the whole night on a particular proposal, management can throw you out with it saying that it is nothing but rubbish… Okay that would be a little harsh but you should be able to take that in stride.

- Business analysts should be able to say what is on their minds and push for it.

- They should be able to find creative solutions to problems

- They should be innovative

- They should have data collection skills

- They should always be willing to learn new things

- They should be able to constantly do some re-evaluation of their methods constantly refining them

Need for resume

Capturing the interest of employers and hiring managers and convince them to set a job interview is what a business analyst resume is made for. It must consistently contain compelling descriptions about the applicant and a promise to deliver the best if hired.

Posted in Uncategorized | Comments Off

Finance Job Descriptions

Finance is a delicate aspect of business and progress. Numerous students pass out of the finance and business schools to work in definite positions while enhancing their career and adding to the values of the industry. Finance job descriptions must be accurately set so as to make the hiring process easier for the recruiter and the candidate.

The finance sector incorporates various level of working. Starting from the finance analyst to the finance director, from the planner to the treasury analyst, they are all different levels of finance sector and have a very definite set of work. The necessary skill set required for a particular job must be well delineated to avoid any wrong hiring. For example, due to a misleading profile description a company might end up hiring a finance analyst instead of a financial planner. Thus the call is in your hands now. A perfect organization needs to be organized to reach the desired goal. Each set of work has to be described properly as per needs.

For example the role of a finance manager must involve the following:

1. Analytical skills
2. Flair for interpersonal communication
3. Critical observation, so on and so forth

Having said this, we can also discuss the skills of a finance director:

1. Knowledge in accounting
2. Analytical skills
3. Critical observation

The two roles have similar requirement but it is up to the profile maker to understand the need of the two different work roles and describe them accurately to avoid confusion.

Posted in Uncategorized | Comments Off

Business Analyst – What You Need to Know About the Job

A business analyst plays a role in the seamless flow of the company’s business process. He works closely with the company’s stakeholders in order to get a better grasp of the structure, operation and policies of the organization. This will allow him to see the areas that need improvement. Upon seeing these areas, he will recommend solutions that the organization will implement to achieve its objectives.

Job Description

A business analyst acts as the bridge between the management and Information Technology department of an organization. He works closely with both parties in order to see that all the stages in the business process are working to achieve company goals.

If he sees a stage that needs improvement, he will propose changes that will enable the company to achieve its desired results. BAs may also touch areas that involve human resources, finance and technology.

Business analysts are a hot item in the job market right now. Many companies need them because of the growing dependence of businesses on technology.

Why is There a Need for BAs

It’s natural for businesses not to invest in an IT project unless it is backed by solid business data. Based on these, a reliable BA works to create a solution to a present problem by acting as the bridge between the management and the people or department that can make it happen.

The chief information officer of a company relies on the BA to design and manage a project to solve a problem. Without the BA, a project might become too costly or plagued with mistakes. These can have a damaging effect on the company’s credibility and reputation. A business analyst should always be around to monitor the system flow of the business, manage a solution to problems, and propose methods that can help to improve productivity and reduce costs.

Expected Skills

A good candidate for this position should have an undergraduate degree and at least five years of experience in a specific industry. Important skills include problem solving, risk assessment, negotiation, software development, good communication and attention to details. Programmers and systems analysts who have become BAs are the most competent candidates for any open position.

Where to Find Good BAs

It might sound unethical but it’s true – companies can find some of the most competent BAs in other companies that do similar business. A BA who is trying to find a similar position in another company must consider companies that do similar business as their present employer. This can help to shorten his job search as well as his adjustment period once he finds work.

Another potential source of BAs is the academia, but candidates from this source don’t have the experience and exposure that most companies desire.

Posted in Uncategorized | Comments Off

Accounting Analyst Job Description

If you are looking for the job descriptions for an accounting analyst, below are some you can use. There are different kinds of accounting analyst job descriptions because accounting analysts work in different industries, departments and positions.

#1. Accounting Analyst Job Description

This accounting analyst job description is for work in Accounting Policies and Systems Department (AP&SD)

The Accounting Analyst will be responsible for interpreting and implementing new accounting systems and procedures. He/She will analyze and offer recommendations on the feasibility of accounting information system proposals. He/She will determine if proposed systems meet user information requirements and conform to accounting policy.

He/She will be expected to develop EDP support specifications and user manuals describing financial data flow and input/output requirements. He/She will analyze the financial feasibility and impact of proposed budget items, investment alternatives and capital or operating programs, and provide support in preparing expenditure requests.

He/She will prepare highly confidential and technical financial reports and forecasts on cash receipts and disbursements, corporate income, operating and capital plans and expenditures, manpower budgets, investments, and the consolidated financial position.

The Accounting Analyst will be required to analyze subsequent variances and identify trends and opportunities to lower or control costs. He/She will gather financial data for use in implementing the participation agreement, and support operations organizations in responding to audit recommendations and implementing corrective action.

He/She will be responsible for developing and revising instructions for the Accounting, Payroll and General Instruction Manuals. He/She will interpret his/her application for operations organizations.

#2. Advanced Accounting Analyst Job Description

This job description is for accounting analyst working in the Accounting Process Department of a company.

As a member of the Internal Controls team The Advanced Accounting Analyst will participate majorly in the annual assessment of the Company’s financial controls as required by Sarbanes Oxley. He/She will be involved in controls and process improvement projects throughout the Company.

He/She will be responsible for coordinating the maintenance of the Company’s detailed financial controls and process documentation. Provide support in the assessment of the design effectiveness of Company’s process control framework.

He/She will give advice on effective controls, provide support for the annual scoping exercise for 404 assertion process, including risk assessment of significant financial transactions.

This individual will be involved in controls and process improvement projects and function as the SOX 404 representative on the systems implementation projects to offer support to control design and Segregation of Duties security case design.

He/She will help in management self-testing process, such as providing periodic training to testers and reviewers, MST testing instruction development and MST Quality Assessment.

He/She will be involved in developing educational and training materials on 404 process and COSO internal controls framework. Work with Internal Audit on their testing for operating effectiveness. Provide support in the determination of testing needed for management assertation. Involved in evaluating overall effectiveness of control framework as input to management for assertation.

The accounting analyst will be responsible for keeping up to date in SEC and PCAOB requirements for 404 assertion process. He/She will maintain knowledge in effective business process internal controls.

#3. Financial Accounting Analyst Job Description

The Financial Accounting Analyst will be primarily required to provide support to the Financial and General Accounting Manager to perform the responsibilities for that area.

He/She will produce accurate Balance Sheet and ensure it represents the company’s financial position in all material respects. This individual will be pivotal in developing annual budget and in forecasting as well as understanding of the performance of the company. He/She will be involved in developing strategies to improve performance.

The Financial Accounting Analyst will perform querying and data mining information from SQL databases to be used in analytics. Perform bank reconciliations; General Ledger Account substantiations. He/She will be responsible for monitoring the attainment of various performance goals / metrics, assuring the existence of appropriate controls at each step, and searching for new opportunities.

He/She will provide support in budgeting and forecasting. Provide regular monitoring and evaluation of varying performance strategies. He/She will be involved in strategy revision, planning, program enhancement and overall process improvement.

Posted in Uncategorized | Comments Off

Business Analyst Job Description

A business analyst makes detailed quantitative and qualitative analysis of a company’s business strategies and suggests new strategies or solutions for improving the performance of the company. He has to be aware of various statistical models and apply them in formulating portfolio strategies. By performing in-depth analysis for portfolio management, a business analyst takes on the data challenges of the organization and the industry in general. He understands the company’s strengths and weaknesses, and Reviews and edits requirements, specifications and recommendations accordingly. The business analysts are entrusted with wide array of duties and responsibilities which mainly depends upon their job profile.

The main responsibilities of these analysts would be:

• To develops functional specifications and system design specifications for client engagements
• He must follow industry trends and needs to conduct research to identify loopholes in the company’s strategies
• These analysis reports must be submitted regularly so that the suggestions can be implemented
• He may also have to develop business models related to customer modeling, customer segmentation and business forecasting
• He must understand the customer’s needs, and change them into application and operational requirements
• He must be capable of analyzing and documenting the processes involved in business.
• Test scenarios must also be prepared by the business analyst.
• He must looks after the day to day change in the management which is needed as per the plans of the project.
• The business analyst should take care that throughout the development plan there is proper coordination between the development team, customers and any other party which may be involved.

A business analyst must have very good analytical and problem-solving skills. Teamwork is also very important in this line and he should be able to communicate well with his team members and people from other departments. Knowledge of the basic technical software and applications related to this field is also beneficial for this job.

As far as educational qualifications are concerned bachelor’s degree in mathematics, statistics, economics, operational research etc is a good for being a business analyst. One can also study finance, marketing and do an MBA to get more exposure in this field. Any additional course in management will surely give an edge over the others. Other skill sets which are needed by organization for this post include good analysis skills, good knowledge about various technological tools like HTML, JS, PHP, ASP,.NET and others. Knowledge about data base, SQL and UML will be an added advantage.

Posted in Uncategorized | Comments Off