New Calendar and Workings

I am now using a new calendar.

I am now using a new calendar. After a lot of issues with the old system I was using, I’ve decided to give TeamUp a try. We shall see if this will work, to help scheduling time with other professionals. This calendar will only feature my “in field” time, which is 10:00 a.m. – 5:00 p.m. PST. Before that, I will be working on emails, and scheduling with my virtual assistants. Both before and after that time, unless it is an emergency, I prefer not to be called, as I am a new father, and want to spend time with my baby boy, and ask all professionals that I work with to respect that, please.

Not available on weekends.

This is two-fold. Saturdays are my Sabbath. I will not go into my spiritual & religious beliefs and preferences, just as I will not ask you yours. I will aim to respect any professionals I work with, regarding such beliefs, and ask for the same, in turn.

Since most of the people I know–for those who have a religious preference–have their day on Sunday, I’ve found that Sundays are simply best for me to have “family time,” especially with the new baby. Also, I honestly cannot recall any financial institute having hours on a Sunday, and with a lot of working being on REOs, and various NPNs/NPLs, I find it best to do the bulk of my work on days when they are open. Of course, there are various federal “bank” holidays, where other professionals can work, and unless I otherwise note on the calendar, I’m generally available during the week, on the times listed, barring unforeseen circumstances.

If it is real estate, we can work it!

My primary transactions have been with various forms of residential properties, being SFH or MFH. We are always looking to work with any form of commercial:

  • Office,
  • Retail,
  • Agriculture,
  • Etc.,

At this time, we are only working with secured transactions, and not unsecured transactions–business debt (C&I), and consumer debt (eg, credit cards)–with new clients. Before working with unsecured debt, we must have a firm and established relationship with the client. When we have completed a few transactions that are secured by real estate (REOs and/or notes), we can explore unsecured transactions, for clients interested in these sort of transactions.

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Winter Has Been Long

In some ways, the winter of 2016-2017 has felt long, and mainly because some others have been having issues with the cold weather. There have been a few cases where the winter has caused some outages, which has delayed work, but that’s life.

We are now working the NPN/NPL niche, with the focus on bank and credit union nonaccurals. We look for those debts that are +90 days, and are not getting payments. Our company has a number of investors, that are interested in this, and we are looking to source these accounts.

If you work with a financial institute, and you know that there are a number of tapes with nonaccurals, Non-performing notes/loans, etc., we welcome referrals.

Looking to Explore NPNs

100K Investing, LLC, is always looking to explore opportunities. The current opportunity we are looking at is NPNs, or NPLs, also known as Non-Performing Notes or Non-Performing Loans.

At this time, or main focus will be on both brokering these notes in the Inland Northwest to those who are interested in the area, and to provide due diligence services on these notes, tapes, or pools. You can find out more my going to the cash for notes tab, and select NPN.

Fundraisers Earn 5% Commission for Account’s Life

Are you looking to raise money for your fundraisers? It can be for big ones like a school or church, or a personal one, such as medical expenses or help getting back on your feet.

Our business is willing to make ongoing contributions to your crowdfunding campaign. This includes, but isn’t limited to crowd funding campaigns on KickStarter, GoFundMe, Indiegogo, and the other crowdfunding sites.

How does this work? We help businesses get paid for their invoices within 24 hours, as opposed to 30 – 90 days.

For each business you refer to us, that can use this service, we’ll provide 5% to your campaign, for the Account’s Life. If they do invoice (also known as accounts receivables) factoring for one month, you get 5% for 1 month. Same for 6 months, or 6 years. However many invoices the business(es) you refer to us to be factored, and whatever the value, you get up to 5%.

Has your fundraiser been going slower than you had hoped? Are you able to reach out to people, especially local businesses, and inform them about factoring? You can mention your cause, or not, at your discretion. Let them know how factoring can help their business, and if they decide that factoring is something they wish to do, you will earn an ongoing 5% commission, for the life of the account.

 

First Teleconference Calls for Invoice Factoring, and more.

We will be starting to hold weekly teleconferences for businesses that may be interested in invoice factoring. In addition, there will be guest speakers to discuss seller financed mortgages, annuity sales, probate advances, and more.

Here are the Event Brite urls for the following:

If you’re in or around any of these areas, check out the teleconference for invoice factoring. Note that these are open to the public, and anyone with a business that has invoices is welcome to attend.

Medical & Healthcare Factoring

If you are a business in the medical & healthcare industries, there is great news for you! Medicare, Medicaid, and other private insurers can take 30 – 90 days, or more, to pay your company on your invoices. If you provide medical or healthcare-related services of any type, we can help you.

Healthcare factoring applies when there is not a third-party payer involved and medical factoring companies are used when there is a third-party payer involved.

Healthcare and Medical Receivables Factoring is Available For

  • Sole and Group Practitioners
  • Rehabilitation and Physical Therapy Facilities
  • Chiropractors
  • Durable Medical Equipment (DME)
  • Hospitals
  • Laboratories
  • Medical Billing Services
  • Medical Coding Services
  • Medical Staffing Companies
  • Medical Supply Companies
  • Medical Transcription Services
  • Medical Transportation
  • Nursing Homes
  • Home Healthcare Providers (Medical & Non-Medical)
  • Imaging Facilities (providers of MRIs, X-Rays, CT Scans, etc.)
  • Ambulance Providers
  • And more

Some of the common Healthcare receivables sectors include medical transcription services, medical staffing companies, medical coding and billing services, medical supply companies, etc.

By utilizing healthcare factoring, these vendors can enjoy the benefits of a virtually unlimited line of credit all based upon the services they’ve provided. The simple method of factoring healthcare receivables is as follows:

  • The healthcare vendor invoices their customer for work that has been completed. Some of the common customers will be hospitals, nursing homes, medical offices, etc.
  • Next, the vendor sends a copy of the billing documentation to the healthcare factoring company.
  • Within 24 hours or less, the factoring company will deposit funds into the vendor’s bank account. This amount is typically in the range of 85% of the gross invoice value.
  • The factor holds 15% while awaiting payment and handles collections on behalf of the vendor.
  • As soon as the invoice is paid in full, the factor releases the 15%, minus the factoring fee, back to the vendor.

Whether you are billing Medicare or Medicaid, third-party insurance companies, Blue Cross/Blue Shield, or HMOs, we have a factoring solution to help. By factoring your medical claims, you will benefit by receiving capital up-front, while the factor waits months for your customers to remit payment. The general process for factoring medical claims is as follows:

  • The provider submits the claims to the third-party payer as normal.
  • A copy of the paperwork is submitted to the factoring company.
  • Within 24 hours or less, the factoring company deposits funds directly into the medical provider’s bank account (typically around 85% of the net collectable value).
  • As soon as the claim is paid in full by the third-party payer, the factor releases the remaining 15% minus a small factoring fee.

Simply contact us today for a detailed discussion focused on your business and its capital needs. In most cases, you can begin funding your receivables in as little as 1-3 days.

Government Contractor Factoring

Here is some information from one of the companies I will be factoring for, who do government contractor factoring:

…many owners are forced to limit their number of contracts due to the financial instability that slow-paying agencies can cause a business. With accounts receivable financing, you can circumvent this age-old problem and get paid as early as tomorrow for work that has been completed today.

How Government Contract Financing Works

  • Upon completion of the contract, or its benchmarks, submit your invoice and supporting documentation to the government agency while also sending a copy of the paperwork to the factoring company.
  • The factor will then advance up to 80-90% of the gross receivable value by depositing the funds directly into your bank account (typically within 24 hours or less).
  • The factoring company waits the weeks or months for repayment.
  • As soon as the payment is received in full, the factor will release the remaining funds directly into your bank account after deducting the small factoring fee.

Benefits of Government Contract Factoring

  • Same day funding
  • Competitive advance rates and fees
  • Short term agreements with no hidden fees
  • You choose which customers to factor and which customers to pay directly
  • 24/7 Online account access
  • Free credit checks on new customers
  • Dedicated account managers
  • Extensive government contract financing experience

The last is to emphasis that, yes, the company I broker for has a lot of experience in government contracting invoicing, and dedicated managers can help you throughout the entire process.