What is the Truth in Lending Act (Reg Z)?

By |2021-12-03T17:14:04-06:00November 8th, 2021|Business, Compliance, Financing|

Ever wonder why financial paperwork regarding loans, credit cards, lines of credit, and other instruments have disclosures on costs, interest rates, and other important factors to consider? You can thank the Truth in Lending Act (otherwise known as Regulation Z or simply Reg Z) for that. Passed in 1968, the Truth in Lending Act was a set of regulations aimed

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What is the Equal Credit Opportunity Act?

By |2021-12-03T17:12:01-06:00October 11th, 2021|Business, Compliance, Financing|

Ever notice signs outside banks and apartment complexes that have a house with an equal sign through it alongside “Equal Housing Lender” in big bold letters? This is but one of a few manifestations of the Equal Credit Opportunity Act (or ECOA), a set of regulations that effectively prohibits credit discrimination on the basis of race, color, religion, national origin,

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7 Smart Uses for Unsecured Lines of Credit

By |2021-07-06T23:43:53-05:00August 23rd, 2021|Business, Financing, Money Management|

Credit cards aren’t the only way for individuals and businesses to build credit. In fact, unsecured lines of credit can be used as a great way to not only fund your life and projects, but to build your credit score without the hassle of plastic cards burning a hole in your wallet. But what’s a line of credit anyway? A

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5 Ways Indirect Lending Can Keep Your Business Afloat

By |2021-07-06T23:43:53-05:00August 9th, 2021|Business, Financing, Money Management|

As the world reopens after the COVID-19 pandemic, you are probably eager to get your own business back in shape. But with so many obstacles and shortfalls over the past year, what can you do to get the financing you need? Despite inflation concerns and traditional loans remaining difficult to acquire, there are still ways to get started again. Whether

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The Pros and Cons of Floor Plan Financing

By |2021-07-06T23:43:53-05:00July 12th, 2021|Financing|

Floor plan financing is a useful tool that allows car, RV, boat, and heavy equipment dealerships to remain competitive while keeping their sales lots full. Although this kind of financing is a boon for these kinds of businesses, it is not without its own drawbacks. Let’s take a look at some of the pros and cons of floor plan financing.

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E-Commerce or Brick-and-Mortar? Why Not Both?

By |2021-07-02T09:01:51-05:00July 8th, 2021|Business, Financing|

Consumer confidence is high and people are eager to get out and shop in person as the United States begins to exit the pandemic. However, those businesses that embraced e-commerce are hesitant to go back to the brick-and-mortar shops from the pre-lockdown era. Both models have their respective advantages so there is every reason to consider keeping both streams of

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Inflation Worries Have Businesses and Banks Seeking Alternatives

By |2021-07-02T08:45:07-05:00June 5th, 2021|Financing|

With inflation making the headlines, businesses are looking for alternatives to traditional loans. At the same time, banks and other lending institutions want to expand their offerings. How Inflation Impacts Businesses Inflation can impact businesses in a couple of ways. First, if the cost of raw materials and labor expenses increase, businesses are forced to raise prices to preserve their

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8 Benefits of Indirect Lending

By |2021-05-18T16:21:07-05:00May 18th, 2021|Business, Financing, Floor Plan Xpress, Money Management|

Whether you’re an RV, auto, or boat dealer, a credit union or bank, or just need help to provide more loan options than you can on your own, indirect lending can help bolster your business in many ways. While this list isn’t exhaustive, these are a few benefits of indirect lending you can enjoy by working with a reputable company

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Why Should You Choose Floor Plan Financing?

By |2021-05-18T16:20:59-05:00May 18th, 2021|Business, Financing, Floor Plan Xpress|

Floor plan financing is a boon for all kinds of dealerships. Whether you are selling heavy equipment, RVs, cars, boats, or large appliances, there are benefits to floor plan financing over traditional loans and funding options. While there are plenty of reasons most dealerships choose this kind of funding, there are two main reasons that entice businesses to choose floor

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Why Choose an Independent Financing Company for Floorplanning?

By |2021-05-18T16:21:07-05:00May 18th, 2021|Business, Financing, Floor Plan Xpress|

Finding the right financing for your business does not need to be a struggle, no matter what industry you are in. While a bank or credit union might be among your first choices, independent financing companies have their own benefits that could be more useful to your business and its goals. If you are a dealership or retailer in need

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