We want to thank everyone for the well wishes and support they’ve given us in the aftermath of Hurricane Sandy. Some of our staff and many of our beloved customers are dealing with horrific ordeals of property loss and damage. We have seen and heard stories of courage and heartbreak, but through it all, Americans are coming together to help one another. Our love goes out to everyone that is facing tough times.
We would like to let you know that our office is open today and we are still processing loan applications. If your business requires funding due to Hurricane Sandy, please inform your account representative.
Every year, more than 170,000 children are born with cleft lip or palate. Most can’t afford surgery. Smile Train is focused on solving this problem…
United Capital Source is participating in the first ever merchant cash advance / microloan fantasy football competition for charity. Eleven other companies have joined forces with us to contribute towards a prize donation. We’ve selected Smile Train, an organization we support strongly. It’s a winner-take-all format, meaning 100% of the cash prize will be donated to the winning team’s charity.
We currently have a 2-1 record and we feel that our team is up to the task to go all the way.
Want to make a difference in a child’s life? Donate to Smile Train today!
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Micro-lenders have been saying for a long time that banks seem to be genuinely disinterested in lending to small businesses. We’re guilty of making that charge but that’s only because it’s true. According to a new article by Fox Business, “Bank of America, JP Morgan Chase, Wells Fargo, and TD Bank were the banks that most frequently rejected funding requests from their own small business customers during the first half of 2012. It seems that existing banking relationships mean little these days…”
Read more: http://smallbusiness.foxbusiness.com/finance-accounting/2012/06/26/why-small-business-owners-should-boycott-big-banks/
If you’re a credit card user, you may have recently received a replacement card in the mail far in advance of your current card’s expiration date. Some of you may be saying, “Yeah..that did just happen… what gives?” Global Payments, one of the country’s largest credit card processors became aware of major security breaches in late March and has been doing damage control ever since. As a result, they are facing immediately penalties and scrutiny from both Visa and MasterCard but are continuing to operate as usual.
We hear about these large scale security failures from time-to-time but it wasn’t until recently when some of our own family members started receiving replacement cards in the mail, that it became all too real. According to reports, individual personal card holder information was not compromised but many card numbers were. Sophisticated scam artists can use these to manufacture fake magnetic strips and counterfeit cards. Many credit card issuers are taking preventative measures by mailing replacement cards with new account numbers to their customers.
Global Payments is meanwhile stuck tallying up a bill that is sure to be in the billions of dollars. BILLIONS OF DOLLARS! For a company their size, they will probably be able to absorb the hit, correct their mistakes, and move forward. A small business would not be as equipped to handle a similar situation.
Did you know that if a security breach of cardholder information originates at the merchant level, that the cost to a small business can reach hundred of thousands or even million of dollars in penalties, legal fees, and damages? There’s a great way to prevent such an incident and that’s to remain in compliance with Payment Card Industry (PCI) standards.
Breaches are a real threat. If you are unsure how to maintain compliance, a representative at United Capital Source will be happy to help. One simple phone call can arm you with important preventative skills that can possibly save you billions of dollars in the future.
ONE. PHONE. CALL. SAVE. BILLIONS.
There’s no excuse not to do it.
The Electronic Transactions Association Expo in Las Vegas is officially under way. This show is the largest event of the year for the Merchant Cash Advance industry and it offers a great opportunity to meet payment providers, business financiers, and the companies they partner with.
You can learn more about the expo and the schedule of activities with the official media guide HERE.
According to the March jobs report released early this morning, the national unemployment rate has fallen to 8.2%. Many critics have attacked this improvement as being indicative that Americans are giving up looking for work altogether and are therefore no longer being counted as unemployed. But how the data is viewed can largely depend upon your political affiliation, as well as your willingness to look at the big picture.
There are rumblings within the conservative news media that the dramatic drop in the unemployment numbers over the last six months may have something to do with President Obama’s bid to get re-elected. While that’s for the conspiracy theorists to debate, we’ve been on the front lines with business owners for quite some time. The reality is that there is a renewed sense of optimism amongst retailers, almost like a re-awakening. 2008 – 2011 felt very much like 4 years of winter, but 2012 looks and feels like Spring. Applications for funding have soared and plans for how our financing programs will be used are for more productive purposes.
In the last few years, a large portion of our clients were using funds to make repairs, replace equipment, or to carry them through a slow period. While those remain absolutely great reasons to apply, we’ve noticed that far more people are using our capital to open additional locations, advertise aggressively, or to dramatically increase sales. So let not your heart be troubled by the jobs report. Don’t forget that the country experienced one of its warmest winters in history. January and February had abnormally high hiring numbers so its no surprise that some of the steam had fizzled out by March. If you look at the last three months together, there is much to get excited about.
There is one economic indicator that we take more seriously than a government report, and that’s the personal stories you share with us. From what we’re hearing, it’s full speed ahead in 2012.