Athabasca University: Based in Athabasca, Alta., with satellite campuses in Calgary, Edmonton, Markham, Mississauga, Ottawa, Toronto, Vancouver and Winnipeg, it's the home of the first online MBA program. Two kinds of MBA programmes are offered: MBA and Executive MBA. Admission to AU MBA programs occurs three times each year, in fall, winter, and spring. The MBA program is divided into three distinct phases. Courses are offered on a paced basis with specific start and completion dates, and in sequential order within Phase 1 and Phase 2. Before students begin their program, they are required to take a one-week orientation course. A total of 48 credits is required for the completion of an AU MBA program: Phase 1 consists of six, three-credit courses; Phase 2 consists of four, three-credit courses; Phase 3 consists of three, three-credit electives, and an applied project equivalent to nine credits. Also required is the comprehensive examination at the end of Phase 1. (checked)
Website: mba.athabascau.ca
Brock University: A two-year program for full-time students at the St. Catharines university; a part-time option is available. Students can choose from accounting, finance, human resource management and marketing streams.
Website: brocku.ca/business/mba
Cape Breton University's MBA in Community Economic Development is the only MBA program in the Americas that aims to deliver advanced business knowledge and skills in the context of the community and the world.
Website: cbu.ca/cbu
Concordia University: The JMSB MBA is a 57-credit program consisting of 19 three-credit courses. Full-time students normally complete the program within 16 months to two years, while part-time students take three to five years.
Website: johnmolson.concordia.ca/graduate-programs/mba-program
Carleton University: The focus of the Sprott School's 12- to 16-month program is the management of Financial, International Business, Management and Change, and Technology (not offered for academic year 2009-2010). Students at the Ottawa university have the option of studying in Iran or China. (checked)
Website: sprott.carleton.ca/mba
Dalhousie University: The Faculty of Management offers MBA programs (with concentrations in Finance, International Business, and Marketing) and the specialized MBA (Financial Services). Programmes run from 20-22 months, depending on the subject. Joint programs with other faculties offered.
Website: dalmba.ca
First Nations University of Canada: With campuses in Regina, Saskatoon and Prince Albert, courses are offered in conjunction with the University of Saskatchewan (www.commerce.usask.ca/mba).Concentration on indigenous management.
Website: firstnationsuniversity.ca
University of Guelph: MBA is offered with a specialization in either Hospitality and Tourism Management, and Food and Agribusiness Management. This program is designed for people who wish to complete the MBA in one intensive year of study. The University of Guelph Executive Master of Business Administration (online) program is a two-year program.
Website: www.mba.uoguelph.ca
HEC Montreal: HEC Montréal One-Year MBA: 12 months, full-time, in English or French. EC Montréal MBA in Action MBA — evenings, three years, part-time, in French only. The McGill — HEC Montréal EMBA will award successful participants a joint MBA degree bearing the seals of both HEC Montréal and McGill University. Participants remain in their jobs throughout the program and can complete it in 15 months.
Website: hec.ca/en/programs_training/mba
Lakehead University: The MBA program is offered on a full-time basis (one year) and part-time basis (three years). The program is available at a cost lower than other MBAs in Ontario, and the plan is to offer the program on a full-time and part-time basis at the Thunder Bay campus and on a part-time basis at the Orillia Campus. The program focuses on these business areas: Operations Management, Marketing Management, Financial Management, Human Resources Management and Management Information Systems. (checked)
Website: mbaguide.ca/lakeheadu.html
Lansbridge University: New Brunswick-based online university offers an MBA and fast-track executive MBA.
Website: lansbridge.edu
Laurentian University: The Sudbury university offers an on-campus MBA (full or part time) and an online MBA program developed for CGAs and senior CGA students. The online program can be completed in as little as 15 months.
Website: laurentian.ca/Laurentian/Home/Departments/Commerce/MBA+Program/M.B.A.+Program.htm?Laurentian_Lang=en-CA
Laval University: Laval offers a two-year MBA program (full or part-time) which includes an emphasis on international financial markets and the financial management of international companies.
Website: english.fsa.ulaval.ca/sgc/programs/mbaenglish
McGill University: Montreal institution offers MBA and Executive MBA programs, as well as an accelerated program for qualified applicants from North American universities and a weekend program taught by McGill faculty at Sophia University in Tokyo. Also has joint two- to five-year programs with its medicine, law and dentistry faculties.
Website: www.mcgill.ca/desautels/mba
McMaster University: Hamilton university offers an MBA program (full or part time), MBA Co-op program and an eight-month Accelerated MBA
Website: degroote.mcmaster.ca/MBA/index.html
Memorial University of Newfoundland: Offers an MBA-CMA program to students who have passed the CMA entrance exam, as well as a full or part time MBA program. There is also an executive MBA with an exclusive emphasis on the petroleum industry, one of only two degrees of its kind in the world.
Website: http://www.business.mun.ca/programs/masters/mba/
Queen's University: The accelerated 12-month MBA in Kingston is for people with an undergraduate degree in business and a minimum of two years' relevant work experience. Queen's also offers a 15-month executive MBA–national program with learning available in Toronto, Calgary, Vancouver, Edmonton and Montreal, a 15-month executive MBA, a 12-month MBA and a joint program with Cornell University which leads to MBA degrees from both institutions after 18 months.
Website: business.queensu.ca/mba_programs/qcemba/index.php
Royal Military College: Just east of downtown Kingston, it's open to civilian students. The MBA curriculum is designed to accommodate the needs of any Military Occupation classification or individual with resource management responsibilities. The Program accepts both full and part-time applicants and a limited number of civilians and is available in residence and at a distance. To complete the MBA, students must successfully complete the equivalent of twenty (20) one-credit courses. Normally the decision to undertake a specific pattern is made after the first year of study. A student must choose either the General or Logistics stream. (checked)
Website: www.rmc.ca/aca/dcs-dep/gs-edc/mba-maa-eng.asp#pf-fp
Royal Roads University: This MBA program enables people to work full-time and earn their degrees at the same time. All of the MBA specializations take two years to complete and combine Internet-based online learning with three, three-week residencies. Residencies are held on campus in Victoria, British Columbia, Canada and in Grenoble, France for the third residency (optional). Learners may choose to complete their final residency in France at an extra cost. Residency attendance is a mandatory component of the MBA. Royal Roads University (RRU) currently offers MBA programs in the following areas: Executive Management, Digital Technologies Management and Human Resources Management.
Website: www.royalroads.ca/programs/faculties-schools-centres/faculty-management/school-of-business/master-business-administration
Ryerson University: Located in downtown Toronto, the Ted Rogers School of Management at Ryerson University offers MBA and MMSc programs which can be completed in a minimum of one year on a full-time basis, or two years part-time. The MBA in the Management of Technology and Innovation is Toronto's only MBA designed to meet the need for professionals with both technology and management skills.The MMSc in Management of Technology and Innovation is a Master's degree for people interested in a research career in industry or academia. The curriculum is coursework-based plus a thesis. It emphasizes the development of sound qualitative and quantitative research skills, oriented toward research in the area of technology management and innovation.
Website: www.ryerson.ca/mba/about
St. Mary's University: The Sobey School of Business in Halifax offers a full time MBA, a part time MBA, and accelerated program for those with an undergraduate degree in Business Administration or Commerce and an MBA-CMA for students possessing a CMA or currently pursuing one.
Website: www.smu.ca/academic/sobey/programs/mba/program.html
Simon Fraser University: The Segal Graduate School of Business, Vancouver, B.C., offers a MBA program that lasts just 12 months. The core curriculum builds a foundation in functional management areas: finance, accounting, marketing, operations, economics and strategy. Applications will continue to be accepted for the September 2009 start date, until August 1, 2009. Students are encouraged to apply as soon as possible for priority consideration.
Website: http://business.sfu.ca/mba/apply
Thompson Rivers University: The School of Business and Economics (SOBE) at Thompson Rivers University (TRU) in Kamploops, B.C., offers an intensive 10-month program with a new cohort starting in September of every year. The program offers offer students a highly applied curriculum with an emphasis on the global business environment.
Website: tru.ca/business/mba.html
Trinity Western University: This university in B.C. welcomes people who profess faiths other than Christianity to take its MBA program. The program specializes in three areas: Management of the Growing Enterprise Specialization, Non-Profit and Charitable Organization Specialization, and the International Business Specialization, the Management of the Growing Enterprise Specialization and the Non-Profit and Charitable Organization Management Specialization are offered in a 22-month blended format. The International Business Specialization of the MBA program is a full-time program designed to be completed in 12 months.
Website: twu.ca/academics/business/mba/program
University of Alberta: Offered at the Edmonton institution is a 16-month program ranging from Natural Resources, Energy & Environment; Technology Commercialization; International Business; Leisure and Sport Management; Public Management, and Finance.
Website: www.business.ualberta.ca/mba
University of British Columbia: The Vancouver school delivers a degree in 15 months for full-time and 28 months for part-time. Areas of Specialization: Entrepreneurship; Finance; Information Technology and Management; Marketing; Organizational Behaviour and Human Resources; Supply Chain Management; Sustainability and Business.
Website: sauder.ubc.ca/AM/Template.cfm?Section=MBA_Full_Time
University of Calgary: The Haskayne School of Business allows students to create MBA degrees in two years day MBA program, or three years Evening MBA program in areas specializing in Finance, Entrepreneurship and Innovation, Global Energy Management and Sustainable Development, Marketing or Customized.
Website: haskayne.ucalgary.ca/haskaynegrad/mba
University of New Brunswick: UNB offers a two-year program, with a foundation and a professional track year. Joint degrees are available in law, engineering and sports and recreation management.
Website: unb.ca/fredericton/business/mba/index.html
University of Manitoba: The Winnipeg-based Asper School of Business offers full and part time MBA courses, with completion in under one year being possible for full-time students.
Website: umanitoba.ca/faculties/management/programs/graduate/mba/poverview.html
University of Northern British Columbia: A two-year program is offered, designed for students who are working full-time. Special attention is paid to issues affecting Northern Canada and northern regions outside the country.
Website: www.unbc.ca/mba
University of Ottawa: The 12- to 15-month program at the Telfer School of Management offers electives in finance, governance, technology, international management, and marketing. An executive MBA is also offered. Offered in either English or French.
Website: www.telfer.uottawa.ca/mba/content/view/175/315/lang,en
University of Quebec: The training at its campuses throughout Quebec prepares students for careers in financial management, certification and taxation and in other specialized fields. Some courses are given on weekends, once a month, or distance learning. As of 2009, a joint executive MBA-CMA is offered at the University of Quebec at Montreal.
www.uquebec.ca/reseau/index.php
University of Regina: The Kenneth Levene Graduate School of Business offers an MBA for managers and professionals who wish to earn accreditation on a part- time basis while working at their careers. A 16-month executive MBA is also offered on a part time basis.
Website: www.uregina.ca/admin/academic/graduate_school/mba_program.htm
University of Saskatchewan: The full-time program at the Edwards School of Business can be completed in 12 months while part-time students can take up to three years.
Website: www.edwards.usask.ca/programs/mba/index.html
University of Toronto: The Rotman School of Management offers a 20-month program, with many majors, as well as morning and evening part-time programs and two executive MBA options: a one year part time course at the campus and a global MBA which visits cities on four continents. There are also specialized combined degrees involving law and engineering.
Website: www.rotman.utoronto.ca/degree.htm
University of Victoria: If enrolled full-time, it takes about 17 months to get your degree with specializations in entrepreneurship, management or international business. A part-time MBA takes between 29 and 33 months. The university also has a joint area of study with law.
Website: www.business.uvic.ca/graduate
University of Western Ontario: The Ivey MBA at the London, Ontario school is a one-year program. Teaching is done via the case method which simulates decision-making in the real world as students make decisions in time-pressure situations often without complete information. Ivey's curriculum gives students the tools and capabilities to become business leaders. The school also offers a joint degree with law.
Website: www.ivey.uwo.ca/mba/learning/curriculum.htm
University of Windsor: The Odette School of Business offers graduate programs for full-time working managers and professionals. Offered on weekends. Applicants with a recent B Com degree may complete the program within one year. An integrated MBA and a joint degree with law are also offered.
Website: www.business.uwindsor.ca
Vancouver Island University: This university, in conjunction with the U.K.'s University Of Hertfordshire, offers a dual Canadian/British program is designed to give students an opportunity to combine new knowledge and practical experience through the integration of theory, research and practice that can be applied at regional, national and international levels. 14 months from start to finish (students without an undergraduate degree in Business are required to take an additional 2-month Foundation program). Graduates with any undergraduate degree may apply.
Website: www.viu.ca/mba/index.asp
Wilfrid Laurier University: Course at the Waterloo institution can be taken in one to three years. It emphasizes the development of managers. It has a Toronto campus for its weekend option.
Website: www.wlu.ca/mba
York University: The Schulich School of Business offers specialization in 19 areas over two years. Students don't have to specialize but are encouraged to focus on more than one area. To be offered in 2010 is the Schulich India MBA, with students completing their first year in Mumbai, and the second in Toronto. Also offered are an executive MBA jointly with Northwestern University (the Kellogg-Schulich EMBA), an Interntional MBA where students study in other countries, and joint programs in law and fine arts. A joint program with Laval University is designed to graduate bilingual and bicultural managers.
Website: schulich.yorku.ca
University of Moncton: Degree is offered on a part-time basis. Through a combination of theory, case studies, and teamwork, students will develop management, leadership and communication skills, as well as decision-making and teamwork skills.
Website: www.umoncton.ca/edperm-english/mba
University of Sherbrooke: Offers full or part time MBA. Also available are a mentorship program, and MBA programs in conjunction with law and accounting degrees.
Web address: usherbrooke.ca/adm/programmes-etudes/2e-cycle/cadre-exercice
SOURCES: Directory of Canadian Universities, University websites
Compiled by Toronto Star Library
online master of business administration degree, online master of business administration programs, online masters of business administration canada
Source: http://docphy.com/business-industry/higher-education/get-mba-canada.html
Thursday, 1 June 2017
Water Damaged Stucco – Types and Causes
If you live in an older stucco home that is painted or have block planters coated with stucco then you probably have seen bubbling, blistering or peeling stucco. What are the causes of damaged stucco? How can it be prevented? This article covers the common types of water damage and their causes. Identifying the type and cause can be very helpful in putting together a prevention plan.
Water Damaged Stucco – Types
Water damage to stucco can be seen in the following forms:
Most water damage to stucco is first observed as staining. Since stucco turns darker when wet staining can remain after stucco dries. Staining can be seen as either white hazy streaks or as dark blotches in the color. Staining is your first indication of water problems and if not addressed can result in efflorescence and blistering.
Efflorescence usually occurs immediately after staining. Efflorescence is a white crystalline, powdery or often fluffy/fuzzy deposit on the surface of masonry materials like concrete, brick, clay tile and in this case plaster. It’s caused by water seeping through the stucco wall. The water dissolves salts as it moves through the wall and then evaporates leaving the expanding salts on the surface. Efflorescence is often the root cause of blistering.
When a wall is subjected to large amounts of water for long periods of time, efflorescence can result. Efflorescence can lead to blistering due to salts expanding or being trapped behind the surface. This is especially the case when stucco is painted. In extreme cases there will be areas where the finish coat or sometimes even the base coat will blister and delaminate from the wall.
Mold can result from stucco remaining damp and out of sunlight for long periods of time. Mold can be observed as a green film or a black stain on the surface of stucco. Although surface mold can usually be treated and removed rather easily it is better to address the cause of mold by protecting stucco from moisture.
As mentioned all of these problems have one common source… Water. To prevent damage to stucco water needs to be effectively managed. Unfortunately many architects, contractors or homeowners have not taken adequate measures to manage and direct water away from stucco.
Stucco Damaged by Surface Moisture
The 2 most common ways stucco can be damaged by surface moisture is:
1) Improperly placed and adjusted irrigation sprinklers
This is a common problem. Often times planters are placed adjacent to stucco walls and the sprinklers are placed at the outer perimeter shooting water in towards the house or stucco wall. In many cases the sprinklers are not adjusted properly causing water to spray over or past plants and directly onto the stucco.
Due to the excessive exposure to moisture the stucco stains, effloresces and or blisters. Worse yet sometimes the paper moisture barrier behind the stucco becomes brittle and fails which can lead to mold and structural damage.
These problems can be eliminated by either not planting against your home or taking strict measures to keep irrigation water off your stucco.
2) No gutters or improperly flashed roofs or balconies
Some cases homes are not equipped with gutters or troughs that direct water away from the house. In many cases during rain, water either runs down the face of the stucco or falls directly to the ground and splashes against the house. One tell-tale symptom of this problem is dirty stucco along the base of your house in areas where you have planters.
Installing proper drip edge metal, gutters and downspouts will help manage roof water. In some cases homeowners have installed special landscape material such as rock or wood chips in areas directly below their eves to aide in preventing water from splashing against stucco.
This type of damage to stucco is usually evident in retaining walls. Exposing block walls to water from behind the wall will eventually result in efflorescence on the surface or base of wall.
Extreme efflorescence causes blistering due to salts being trapped behind the surface. Although blistering is sometimes observed with unpainted walls it always occurs with painted walls. Therefore painting retaining walls is highly discouraged and doing so will lead to regular maintenance. The best way to eliminate this type of problem is to create a moisture barrier behind the retaining wall along with good drainage. Painting should be avoided to prevent unsightly blistering and costly ongoing maintenance.
Stucco Damaged by Wicking
“Wicking” is often a result of improper use of weep screed.
Weep screed was typically not used on houses built back in the 50’s and 60’s. Although weep screed first appeared in ASTM handbooks in the early 90’s it had already been in use since the 70’s. The purpose of weep screed is to allow water that penetrates a stucco surface to run down the wall between the stucco and moisture barrier and escape through weep holes in the screed. If no weep screed is installed water cannot escape through the base of the wall and if the wall is plastered all the way to the ground moisture can actually “wick” up the wall. Moisture damage from wicking can result in staining, efflorescence and blistering.
In order for weep screed to work it needs to be installed correctly. New local building codes in California require weep screed to be installed 2” above a concrete or finished surface and 6” above dirt, grass or stone (earth). Weep screed should have at least a 3 ½” flange and is typically installed flush with the top of the horizontal stud or plate at the base of a wall. This allows for the flange to serve as a flashing to prevent moisture from wicking up behind the weep screed and gaining entrance into the wall.
I have seen instances where homeowners have ignored the role of weep screed and either poured concrete against or built planters too high and have buried weep screed. Burying weep screed usually results in moisture eventually coming into the home, causing water and possibly leading to mold growth.
Preventing water damage to stucco is a result of good planning and building practices. Although stucco can withstand some water, constant exposure over time will result in costly problems. As a homeowner good observation and making sure water is effectively diverted away from your home will help keep your stucco free from water damage.
Thom Susko is a 30 yr plastering veteran and the Managing Partner of The Home Plaster Shop in San Clemente, California. He can be contacted by visiting his company website at www.homeplaster.com.
exterior stucco water damage repair, stucco water damage insurance, stucco water damage repair
Source: http://docphy.com/business-industry/personal-finance/insurance/water-damaged-stucco-types-causes.html
Water Damaged Stucco – Types
Water damage to stucco can be seen in the following forms:
Staining
Most water damage to stucco is first observed as staining. Since stucco turns darker when wet staining can remain after stucco dries. Staining can be seen as either white hazy streaks or as dark blotches in the color. Staining is your first indication of water problems and if not addressed can result in efflorescence and blistering.
Efflorescence
Efflorescence usually occurs immediately after staining. Efflorescence is a white crystalline, powdery or often fluffy/fuzzy deposit on the surface of masonry materials like concrete, brick, clay tile and in this case plaster. It’s caused by water seeping through the stucco wall. The water dissolves salts as it moves through the wall and then evaporates leaving the expanding salts on the surface. Efflorescence is often the root cause of blistering.
Blistering
When a wall is subjected to large amounts of water for long periods of time, efflorescence can result. Efflorescence can lead to blistering due to salts expanding or being trapped behind the surface. This is especially the case when stucco is painted. In extreme cases there will be areas where the finish coat or sometimes even the base coat will blister and delaminate from the wall.
Mold
Mold can result from stucco remaining damp and out of sunlight for long periods of time. Mold can be observed as a green film or a black stain on the surface of stucco. Although surface mold can usually be treated and removed rather easily it is better to address the cause of mold by protecting stucco from moisture.
Water Damaged Stucco – Causes
As mentioned all of these problems have one common source… Water. To prevent damage to stucco water needs to be effectively managed. Unfortunately many architects, contractors or homeowners have not taken adequate measures to manage and direct water away from stucco.
There are basically three ways stucco can be damaged by water.
- Surface Moisture – Stucco subjected to water hitting or running down the surface
- Hydraulic Pressure – water migration from behind the stucco
- Wicking – Plaster in contact with dirt or concrete causing water to be absorbed from the ground
Stucco Damaged by Surface Moisture
The 2 most common ways stucco can be damaged by surface moisture is:
1) Improperly placed and adjusted irrigation sprinklers
This is a common problem. Often times planters are placed adjacent to stucco walls and the sprinklers are placed at the outer perimeter shooting water in towards the house or stucco wall. In many cases the sprinklers are not adjusted properly causing water to spray over or past plants and directly onto the stucco.
Due to the excessive exposure to moisture the stucco stains, effloresces and or blisters. Worse yet sometimes the paper moisture barrier behind the stucco becomes brittle and fails which can lead to mold and structural damage.
These problems can be eliminated by either not planting against your home or taking strict measures to keep irrigation water off your stucco.
2) No gutters or improperly flashed roofs or balconies
Some cases homes are not equipped with gutters or troughs that direct water away from the house. In many cases during rain, water either runs down the face of the stucco or falls directly to the ground and splashes against the house. One tell-tale symptom of this problem is dirty stucco along the base of your house in areas where you have planters.
Installing proper drip edge metal, gutters and downspouts will help manage roof water. In some cases homeowners have installed special landscape material such as rock or wood chips in areas directly below their eves to aide in preventing water from splashing against stucco.
Stucco Damaged by Water Migration “Through” Walls
This type of damage to stucco is usually evident in retaining walls. Exposing block walls to water from behind the wall will eventually result in efflorescence on the surface or base of wall.
Extreme efflorescence causes blistering due to salts being trapped behind the surface. Although blistering is sometimes observed with unpainted walls it always occurs with painted walls. Therefore painting retaining walls is highly discouraged and doing so will lead to regular maintenance. The best way to eliminate this type of problem is to create a moisture barrier behind the retaining wall along with good drainage. Painting should be avoided to prevent unsightly blistering and costly ongoing maintenance.
Stucco Damaged by Wicking
“Wicking” is often a result of improper use of weep screed.
- Weep Screed not Used
Weep screed was typically not used on houses built back in the 50’s and 60’s. Although weep screed first appeared in ASTM handbooks in the early 90’s it had already been in use since the 70’s. The purpose of weep screed is to allow water that penetrates a stucco surface to run down the wall between the stucco and moisture barrier and escape through weep holes in the screed. If no weep screed is installed water cannot escape through the base of the wall and if the wall is plastered all the way to the ground moisture can actually “wick” up the wall. Moisture damage from wicking can result in staining, efflorescence and blistering.
- Weep Screed not Installed Correctly
In order for weep screed to work it needs to be installed correctly. New local building codes in California require weep screed to be installed 2” above a concrete or finished surface and 6” above dirt, grass or stone (earth). Weep screed should have at least a 3 ½” flange and is typically installed flush with the top of the horizontal stud or plate at the base of a wall. This allows for the flange to serve as a flashing to prevent moisture from wicking up behind the weep screed and gaining entrance into the wall.
- Weep Screed Ignored
I have seen instances where homeowners have ignored the role of weep screed and either poured concrete against or built planters too high and have buried weep screed. Burying weep screed usually results in moisture eventually coming into the home, causing water and possibly leading to mold growth.
Preventing water damage to stucco is a result of good planning and building practices. Although stucco can withstand some water, constant exposure over time will result in costly problems. As a homeowner good observation and making sure water is effectively diverted away from your home will help keep your stucco free from water damage.
Thom Susko is a 30 yr plastering veteran and the Managing Partner of The Home Plaster Shop in San Clemente, California. He can be contacted by visiting his company website at www.homeplaster.com.
exterior stucco water damage repair, stucco water damage insurance, stucco water damage repair
Source: http://docphy.com/business-industry/personal-finance/insurance/water-damaged-stucco-types-causes.html
What Invoice Factoring Is & How It Works
Invoice factoring is a type of accounts receivable financing that converts outstanding invoices due within 90 days into immediate cash for your small business. The factoring company will typically pay you in two installments for your invoice: an advance of roughly 80% of your invoice and the remaining 20% (minus factoring fees) after the invoice is paid.
In this article, we’ll discuss what invoice factoring is and how it works. We’ll also touch on invoice factoring costs and qualifications as well as how to choose a good factoring company. As a bonus, we’ll explain the difference between invoice financing and invoice factoring and which might be best for your small business.
Before we dive in, we want to thank Fundbox for sponsoring this article. Fundbox offers fast, affordable invoice financing of up to $100K. With rates as low as 0.5% per week and repayment periods of 12 or 24 weeks, Fundbox can make waiting for invoices to be paid a thing of the past. Opening an account at Fundbox is free. After syncing your accounting software, just pick and choose which invoices to clear. You can have funds as soon as one business day.
Invoice factoring is a financing option available to businesses that invoice businesses (B2B) or government agencies (B2G). Invoice factoring provides short term working capital in exchange for selling and assigning invoices to a factor. The factor advances the company roughly 80% of the invoice’s value. Then, once the invoice is paid, the factor pays the remaining 20% (minus fees).
Though similar, invoice factoring is not the same thing as invoice financing (or accounts receivable financing), although the terms are often used interchangeably. Invoice financing is more streamlined, easier to use, and doesn’t require the assignment of invoices like factoring does. Read more about invoice financing here.
In addition to being able to work with B2B and B2G invoices, an invoice financing company like Fundbox can also work with B2C invoices. Businesses in need of working capital that don’t invoice their customers at all may want to read our articles about short term loans and merchant cash advances.
Invoice factoring is typically a solution for short-term cash flow problems. It is frequently used as a way for businesses to simplify their cash flow conversion. Invoice factoring is not traditionally the type of financing that is used for big capital investments. This type of project is typically done with long term loans like SBA loans.
There are five main steps involved in invoice factoring:
Once you have provided products or services to your B2B or B2G customer then you issue an invoice for them to pay you. To qualify for factoring, these invoices must be payable within 90 days.
You find a factor you want to work with, go through the application process, and sell them all of your outstanding invoices. When you submit an invoice to a factor a few things will happen.
First, the factor will determine if you meet eligibility criteria to receive financing. They will also conduct due diligence on the customers you’re invoicing to see if they are good credit risks. If the factor decides to approve your business based on that research, you and the factor will sign a financing agreement. The agreement will set an initial maximum dollar amount that you can borrow, which is the maximum factored amount outstanding at any given time.
The factor gives you an initial advance called an advance rate. The advance rate is generally around 80% of the value of the factored invoice. The amount of your advance depends on the size of your transaction, your industry, and other risk parameters.
At this point, the factor may also send out a “notice of assignment” to the clients you have chosen to factor, or they may ask you to do so. The notice of assignment states that your company has assigned the factor as the entity to receive future payments for invoices you issue them. All payments will go to a lockbox account (like a designated account for the factored invoices to be paid) which is set up by the factor.
In industries where factoring is common, telling a client you’ve assigned their invoice might not be a problem. If factoring isn’t common in your industry, you might benefit from invoice financing, which doesn’t require invoice assignments.
Your client will pay the factor within 90 days according to the terms of the invoice.
After receiving payment from your client, the factor will give you the remaining balance of the invoice, called the reserve amount, minus their fees.
Invoice factoring is a good working capital solution for businesses of many different ages and sizes, as long as you have qualifying invoices. Many factoring companies will even work with you if you’re a startup. The typical fees and overall costs can be tricky to understand, but all typically fall into the ranges in the table below.
Factors and their lending programs can vary significantly. Some factors specialize in lending against invoices due in 90 – 120 days while others specialize in larger or small borrowing limits. Fundbox gives businesses the flexibility of easily clearing invoices for as little as $100 and as much as $100,000. Not only that, but you can skip the intensive application process. Simply create an account for free, then sync your bookkeeping software. That’s it.
Qualifying for invoice factoring is easier than qualifying for long term financing, like commercial real estate loans. While credit scores, annual revenues, and profitability can be significant hurdles for other types of financing, those are less often issues with invoice factoring. Most factors care about three primary things:
Some factors will have other requirements for your business, such as a minimum credit score or minimum time in business, but these requirements are usually far less stringent than other lenders. Learn more in our invoice factor buyer’s guide about the requirements of leading invoice factoring companies.
If your business invoices consumers rather businesses or government agencies, you may qualify for invoice financing at Fundbox.
The base cost (without additional fees) of an invoice factor depends on two things:
Let’s illustrate the terms above with an example. Suppose you factor a $10,000 invoice at an advance rate of 80% and a discount rate of 3% per month. In this case, you would receive $8,000 upfront. If your client makes full payment on the invoice in 30 days, the factor will pay you the remaining $1,700 you are due, bringing the total amount you receive to $9,700. The remaining $300 is kept by the factor as their fee.
Some factors charge additional fees other than the discount rate. Some “hidden fees” to watch out for are:
It isn’t likely that any factor you work with will charge you all of the fees above. However, because of the amount of different fees that you could be charged it’s important to do three things:
Invoice financing companies, like Fundbox, are far more straight forward with their fees. For example, Fundbox charges just 0.5% – 0.7% per week of the value of the invoices you choose to clear. It’s that simple. Opening an account at Fundbox is free, does not involve a credit check and you can see if you qualify for financing in just a few hours.
If you measure the costs and fees of invoice factoring as APR it might look a little higher than you’re used to seeing with more traditional financing solutions.
But with short term borrowing, like invoice factoring, total cost of capital can be more important than the APR. Total cost of capital is how much you will pay in your discount rate and other fees for the life of your repayment term on each factored invoice.
While long term financing may have an APR around 7%, short term working capital providers have APRs that range from 30% – 120%. Invoice factoring typically falls in between the two, with APRs that range from 28% – 60%.
Keep in mind that comparing the effective APR of a 0.5% – 1% weekly discount rate to the APRs of more traditional loans can be slightly misleading. That’s because you’re borrowing the funds for a short period of time so the total cost of borrowing those funds will be relatively small.
For example, let’s say you factor $10,000 for 30 days with a 1% weekly discount rate. Your total cost to factor would be $400, even though technically your APR would be 52%. But if you borrow the same $10,000 and spread out the payments with a 5 year repayment term at a 7% APR, then the total cost of capital is $1,880.72.
There are over 700 factoring companies in the United States. There is tremendous variety in the services they offer, how they conduct their business, and what they charge. Do your research carefully so that you don’t end up with unintended costs or consequences. Here are the things to consider when shopping around:
One aspect of invoice factoring that turns away a lot of businesses is the level of contact between the factor and your customers.
This worry stems from the fact that your customer will have to pay the factor, not you. Some small business owners imagine this will result in their hard-earned customer being repeatedly contacted by a company they’ve never heard of being told to pay up. These concerns aren’t completely unfounded, but they are exaggerated.
In reality, some factors will want direct communication with your customer to verify invoices, verify the assignment of the invoice, and make payment arrangements. However, this is more common in industries where factoring in general is more common and preserving relationships is a top priority.
Some factors create an arrangement where the factor has far less (and in some cases, zero) direct communication with your customer. In some cases this is done by opening a new bank account which the factor controls but which is listed in your business’s name. You then notify your customer of the new account information and if the factor contacts your customer then they will simply present themselves as your billing department.
The invoice financing available through Fundbox doesn’t involve any customer contact, which makes it a very discreet option for businesses that are looking for between $100 – $100K in working capital.
The speed of getting money may matter to you more than anything else if you’re depending on it to make payroll or buy something essential for your business.
The timeframe for you to be funded using invoice factoring is comparable to getting a short term loan, but it varies by factor. You can generally qualify within 2-7 days, and be funded in 1-3 business days after that.
Invoice financing companies, such as Fundbox, are even faster. They require no paperwork because their application and approval processes are completely electronic. They can approve you in hours and get you funded as soon as 1 business day.
One of the most important concepts to understand when considering invoice factoring is recourse factoring vs. non-recourse factoring. This tells you what happens if your customers don’t pay the invoice on time.
Recourse factoring means that the factor has the right to collect payment from you if your customer doesn’t pay the invoice within a reasonable time after its due date. This can be a big problem if you have already spent the money you received from the factor and don’t have additional revenue coming in to settle the debt. This is why you should only factor invoices to customers who reliably pay on time. Fees can continue to accrue until the factor is paid, often creating a new cash flow problem.
Non-recourse factoring is when the factor accepts the risk that the customer won’t pay. In this case, even if your customer doesn’t pay the invoice on time, your business won’t be on the hook for it.
Some firms advertise “non-recourse” factoring, but on the contract, they list several reasons why an invoice can be exempt from no recourse. Other factors will offer partial-recourse agreements. Small businesses should tread cautiously and read their entire contract carefully to make sure what they will and won’t be responsible for if their clients don’t pay the invoice or pay the invoice late.
Spot factoring is when a company sells and assigns a single invoice to a factor. While this might be preferred by the company, many invoice factoring companies do not prefer to factor in this way. Factors don’t like spot factoring because the application process and underwriting isn’t significantly different than if they were to factor all your invoices. That means the factor is doing more work by not able to earn much money off your account.
Contract factoring is far more common that spot factoring and typically requires a minimum monthly volume be factored with them (usually $10K+), or that every invoice to a specific customer be factored.
In general, we’re not fans of the long-term commitments required by contract factoring. Many small businesses often have a variety of customers who pay on different terms, and their financing needs may change, making the flexibility of spot factoring a better option. Fundbox lets you choose which invoices to clear and when to clear them. This gives your small business a high degree of flexibility.
Factoring is an area in which industry familiarity matters. The industry you and your customers are in can affect your terms and cost. Some factors specialize in providing financing to specific industries. Conversely, some factors won’t provide financing to certain types of industries.
Do your research and find a factor that understands the needs and norms of your industry.
Invoice financing (aka accounts receivable financing or AR financing), is a technology based financing solution that gives you a simple way to fix your cash flow problems by advancing payments for your outstanding invoices.
Invoice financing does not require the sale or assignment of invoices, and there is no third party interaction between your provider and your customers. This makes invoice financing faster and easier than traditional invoice factoring.
“Invoice financing is different from invoice factoring in a few important ways,” says Fundbox CEO, Eyal Shinar. “First, invoice financing doesn’t interfere with your clients relationships. Most factoring companies will collect directly from their customers’ clients, which can create an awkward dynamic. Also, invoice financing companies will often advance a larger percentage of the invoice value (up to 100%) whereas factoring companies often only give around 85% of the value. Finally, with invoice financing you can advance as many, or as few, invoices as you want and you’ll only pay fees when you advance. Often factoring companies purchase all of a small business’s accounts receivables so the business might get saddled with a lot of unnecessary debt.”
If your business is looking for a seamless, fast invoice financing solution, set up an account for free at Fundbox. Sync your accounting software and see if you qualify for financing. With rates as low as 0.5% per week and funding up to $100k, Fundbox can help you turn unpaid invoices into cash, fast.
While the terms invoice factoring and invoice financing are often used interchangeably, they are different funding options. Let’s look at how Invoice Financing compares to Invoice Factoring in the table below.
Invoice factoring is right for you if you need a consistent cash flow solution and you invoice B2B or B2G customers. You must be prepared to bring a partner into your business that is going to be working with you on invoice collection for the foreseeable future. Some of the characteristics that may draw you to invoice factoring include:
“Invoice financing can be a great solution for businesses looking to grow at a controlled pace. With invoice financing, you’re leveraging your business’s existing cash flow to grow, so there’s less of a risk of over-extending your business with too much credit or credit at unfavorable terms,” say Eyal Shinar. “Similarly, invoice financing doesn’t rely on traditional credit underwriting the way a line of credit or term loan would, which makes it a good option for businesses that may have less than stellar credit scores. So if you’re a business looking to grow or manage your cash flow more effectively, invoice financing may often be a smart way to do so.”
Invoice financing is typically right for you if you’re looking for financing to solve a short-term cash flow issue or are looking to generate some short-term growth capital. You may also want to consider invoice financing if you’re looking for any of the characteristics that invoice financing has over invoice factoring, which include:
If you think invoice financing is a better fit for your business, read our guide on the best accounts receivable financing companies. Fundbox can approve your business within hours and help you get funded for your unpaid invoices in as soon as one business day. Their flexibility allows you to pick and choose which invoices you want to finance, and they will never contact your customers.
Factoring can seem a little more complicated than getting a loan from a bank. However, what makes factoring complicated is also what makes it appealing. You can borrow money based on your unpaid customer invoices to meet your immediate cash flow needs. As long as your clients pay in a timely manner, the cost of factoring is more affordable than many other short term business loan alternatives.
Fundbox offers fast, affordable invoice financing of up to $100K. With rates as low as 0.5% per week and repayment periods of 12 or 24 weeks, Fundbox makes waiting for invoices to be paid a thing of the past. Opening an account at Fundbox is free. If you’re approved after syncing your accounting software, you can just pick and choose which invoices to clear, with funds transferred as soon as 1 business day.
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Source: http://docphy.com/business-industry/business/invoice-factoring-works.html
In this article, we’ll discuss what invoice factoring is and how it works. We’ll also touch on invoice factoring costs and qualifications as well as how to choose a good factoring company. As a bonus, we’ll explain the difference between invoice financing and invoice factoring and which might be best for your small business.
Before we dive in, we want to thank Fundbox for sponsoring this article. Fundbox offers fast, affordable invoice financing of up to $100K. With rates as low as 0.5% per week and repayment periods of 12 or 24 weeks, Fundbox can make waiting for invoices to be paid a thing of the past. Opening an account at Fundbox is free. After syncing your accounting software, just pick and choose which invoices to clear. You can have funds as soon as one business day.
What is Invoice Factoring?
Invoice factoring is a financing option available to businesses that invoice businesses (B2B) or government agencies (B2G). Invoice factoring provides short term working capital in exchange for selling and assigning invoices to a factor. The factor advances the company roughly 80% of the invoice’s value. Then, once the invoice is paid, the factor pays the remaining 20% (minus fees).
Though similar, invoice factoring is not the same thing as invoice financing (or accounts receivable financing), although the terms are often used interchangeably. Invoice financing is more streamlined, easier to use, and doesn’t require the assignment of invoices like factoring does. Read more about invoice financing here.
In addition to being able to work with B2B and B2G invoices, an invoice financing company like Fundbox can also work with B2C invoices. Businesses in need of working capital that don’t invoice their customers at all may want to read our articles about short term loans and merchant cash advances.
Invoice factoring is typically a solution for short-term cash flow problems. It is frequently used as a way for businesses to simplify their cash flow conversion. Invoice factoring is not traditionally the type of financing that is used for big capital investments. This type of project is typically done with long term loans like SBA loans.
How Does Factoring Work?
There are five main steps involved in invoice factoring:
Step 1: Invoice Your Customer
Once you have provided products or services to your B2B or B2G customer then you issue an invoice for them to pay you. To qualify for factoring, these invoices must be payable within 90 days.
Step 2: Sell and Assign the Invoice to a Factor
You find a factor you want to work with, go through the application process, and sell them all of your outstanding invoices. When you submit an invoice to a factor a few things will happen.
First, the factor will determine if you meet eligibility criteria to receive financing. They will also conduct due diligence on the customers you’re invoicing to see if they are good credit risks. If the factor decides to approve your business based on that research, you and the factor will sign a financing agreement. The agreement will set an initial maximum dollar amount that you can borrow, which is the maximum factored amount outstanding at any given time.
Step 3: The Factor Pays You an Advance
The factor gives you an initial advance called an advance rate. The advance rate is generally around 80% of the value of the factored invoice. The amount of your advance depends on the size of your transaction, your industry, and other risk parameters.
At this point, the factor may also send out a “notice of assignment” to the clients you have chosen to factor, or they may ask you to do so. The notice of assignment states that your company has assigned the factor as the entity to receive future payments for invoices you issue them. All payments will go to a lockbox account (like a designated account for the factored invoices to be paid) which is set up by the factor.
In industries where factoring is common, telling a client you’ve assigned their invoice might not be a problem. If factoring isn’t common in your industry, you might benefit from invoice financing, which doesn’t require invoice assignments.
Step 4: Your Client Pays the Factor
Your client will pay the factor within 90 days according to the terms of the invoice.
Step 5: Factor Forwards You the Remaining Balance Minus Fees
After receiving payment from your client, the factor will give you the remaining balance of the invoice, called the reserve amount, minus their fees.
Invoice Factoring Costs & Qualifications
Invoice factoring is a good working capital solution for businesses of many different ages and sizes, as long as you have qualifying invoices. Many factoring companies will even work with you if you’re a startup. The typical fees and overall costs can be tricky to understand, but all typically fall into the ranges in the table below.
Invoice Factoring Costs & Qualifications
| Amount You Can Borrow | $10k+ per month |
| Time to Qualify | 2 - 7 Days |
| Time to Receive Funds | 1 - 3 Business Days |
| Invoice Qualification Requirements | Payable within 90 days and free of all liens. |
| Other Common Qualifications | Invoice B2B or B2G customers No serious legal or tax problems 2+ Years in business |
| Paperwork Requirements | Application with standard personal and business information Accounts receivable aging report Accounts payable aging report Tax returns (personal & business) Corporate paperwork |
| Discount Rate | 0.5% - 5% |
| Advance Rate | 80% |
| Other Fees | Varies by Factor(see potential breakdown below) |
Factors and their lending programs can vary significantly. Some factors specialize in lending against invoices due in 90 – 120 days while others specialize in larger or small borrowing limits. Fundbox gives businesses the flexibility of easily clearing invoices for as little as $100 and as much as $100,000. Not only that, but you can skip the intensive application process. Simply create an account for free, then sync your bookkeeping software. That’s it.
How to Qualify for Invoice Factoring
Qualifying for invoice factoring is easier than qualifying for long term financing, like commercial real estate loans. While credit scores, annual revenues, and profitability can be significant hurdles for other types of financing, those are less often issues with invoice factoring. Most factors care about three primary things:
- You must invoice business (B2B) or government (B2G) customers. Your customers must have good credit scores and they must be established businesses. The factor will need to feel comfortable that your customers are likely to pay off your invoice.
- The invoices must be due and payable within 90 days and unencumbered by other loans. (For example, you can’t have another short term loan outstanding where the same invoice is pledged as collateral.)
- Your business should not have a history of serious tax or legal problems.
Some factors will have other requirements for your business, such as a minimum credit score or minimum time in business, but these requirements are usually far less stringent than other lenders. Learn more in our invoice factor buyer’s guide about the requirements of leading invoice factoring companies.
If your business invoices consumers rather businesses or government agencies, you may qualify for invoice financing at Fundbox.
Invoice Factoring Costs
The base cost (without additional fees) of an invoice factor depends on two things:
- Discount Rate (or Factor Rate) – The discount rate is the primary cost of borrowing money from the factor and is typically charged on a weekly or monthly basis. The industry range is .5% – 5% of the invoice value per month. Many factors have a tiered system for their discount rates so the more you factor in a month the lower your discount rate is.
- Length of Factoring Period (time it takes your customer to pay) – Discount rates are charged at regular intervals (usually weekly or monthly), so the length of time it takes for the customer to pay your invoice will determine your cost.
Example of Invoice Factoring Costs
Let’s illustrate the terms above with an example. Suppose you factor a $10,000 invoice at an advance rate of 80% and a discount rate of 3% per month. In this case, you would receive $8,000 upfront. If your client makes full payment on the invoice in 30 days, the factor will pay you the remaining $1,700 you are due, bringing the total amount you receive to $9,700. The remaining $300 is kept by the factor as their fee.
Other Invoice Factoring Fees to Look Out For
Some factors charge additional fees other than the discount rate. Some “hidden fees” to watch out for are:
- Origination Fees: Upfront costs associated with initiating a new factoring relationship and opening your account. Could be up to $1,000.
- Incremental Fee: If your discount rate is a flat fee then you may be charged an incremental fee to increase the total discount paid to the factor as an invoice ages. This fee can range from 0.35% – 1%.
- Service Fee or Lockbox Fee: This is a flat fee that your factor may charge you to keep a lockbox (like a designated account for the factored invoices to be paid) open for your customers to pay their invoices to. It can range from $50 – $500 per month.
- Collection or Overdue Fees: Your factor may charge you for their efforts required in collecting past due payments from your customers. Some will even charge you a flat fee for any payment that becomes past due. These fees vary greatly by factor and could be nothing to a few thousand dollars.
- Unused Line Fee: Charged for the unused portion of a factoring facility for a given month. It is typically stated as a percentage and charged on a monthly basis. Can range from 0.15% – 0.5%
- Monthly Minimum Volume Fee: In the event you don’t generate a certain level of fees for your factor in a given month then they may charge you a fee up to $1,000.
- Renewal Fee: An annual fee applied after every full year the line is open. Could be up to 1% of the factoring facility size.
- ACH Transaction Fee: A fee of $5 – $30 that is charged for every advance or disbursement issued from the factor to you.
- Wire Fee: Charged if you request to receive a wire instead of an ACH, which is the preferred method of payment by most factors. The factor passes on the charge from their bank to you, typically $15 – $50.
- Credit Check Fees: These are small in comparison to the other fees, but your factor may pass the cost on to you for any credit checks they need on you or your customers.
It isn’t likely that any factor you work with will charge you all of the fees above. However, because of the amount of different fees that you could be charged it’s important to do three things:
- Ask each factor company you are interested in working with for a breakdown of their fees.
- Carefully review your factoring contract (with the assistance of an attorney if needed).
- Compare different factoring proposals before signing on the dotted line.
Invoice financing companies, like Fundbox, are far more straight forward with their fees. For example, Fundbox charges just 0.5% – 0.7% per week of the value of the invoices you choose to clear. It’s that simple. Opening an account at Fundbox is free, does not involve a credit check and you can see if you qualify for financing in just a few hours.
APR vs Total Cost of Capital
If you measure the costs and fees of invoice factoring as APR it might look a little higher than you’re used to seeing with more traditional financing solutions.
But with short term borrowing, like invoice factoring, total cost of capital can be more important than the APR. Total cost of capital is how much you will pay in your discount rate and other fees for the life of your repayment term on each factored invoice.
While long term financing may have an APR around 7%, short term working capital providers have APRs that range from 30% – 120%. Invoice factoring typically falls in between the two, with APRs that range from 28% – 60%.
Keep in mind that comparing the effective APR of a 0.5% – 1% weekly discount rate to the APRs of more traditional loans can be slightly misleading. That’s because you’re borrowing the funds for a short period of time so the total cost of borrowing those funds will be relatively small.
For example, let’s say you factor $10,000 for 30 days with a 1% weekly discount rate. Your total cost to factor would be $400, even though technically your APR would be 52%. But if you borrow the same $10,000 and spread out the payments with a 5 year repayment term at a 7% APR, then the total cost of capital is $1,880.72.
How to Choose the Right Invoice Factoring Company
There are over 700 factoring companies in the United States. There is tremendous variety in the services they offer, how they conduct their business, and what they charge. Do your research carefully so that you don’t end up with unintended costs or consequences. Here are the things to consider when shopping around:
Customer Contact with the Factor
One aspect of invoice factoring that turns away a lot of businesses is the level of contact between the factor and your customers.
This worry stems from the fact that your customer will have to pay the factor, not you. Some small business owners imagine this will result in their hard-earned customer being repeatedly contacted by a company they’ve never heard of being told to pay up. These concerns aren’t completely unfounded, but they are exaggerated.
In reality, some factors will want direct communication with your customer to verify invoices, verify the assignment of the invoice, and make payment arrangements. However, this is more common in industries where factoring in general is more common and preserving relationships is a top priority.
Some factors create an arrangement where the factor has far less (and in some cases, zero) direct communication with your customer. In some cases this is done by opening a new bank account which the factor controls but which is listed in your business’s name. You then notify your customer of the new account information and if the factor contacts your customer then they will simply present themselves as your billing department.
The invoice financing available through Fundbox doesn’t involve any customer contact, which makes it a very discreet option for businesses that are looking for between $100 – $100K in working capital.
Time to Get Funding
The speed of getting money may matter to you more than anything else if you’re depending on it to make payroll or buy something essential for your business.
The timeframe for you to be funded using invoice factoring is comparable to getting a short term loan, but it varies by factor. You can generally qualify within 2-7 days, and be funded in 1-3 business days after that.
Invoice financing companies, such as Fundbox, are even faster. They require no paperwork because their application and approval processes are completely electronic. They can approve you in hours and get you funded as soon as 1 business day.
Recourse vs. Non-Recourse Factoring
One of the most important concepts to understand when considering invoice factoring is recourse factoring vs. non-recourse factoring. This tells you what happens if your customers don’t pay the invoice on time.
Recourse factoring means that the factor has the right to collect payment from you if your customer doesn’t pay the invoice within a reasonable time after its due date. This can be a big problem if you have already spent the money you received from the factor and don’t have additional revenue coming in to settle the debt. This is why you should only factor invoices to customers who reliably pay on time. Fees can continue to accrue until the factor is paid, often creating a new cash flow problem.
Non-recourse factoring is when the factor accepts the risk that the customer won’t pay. In this case, even if your customer doesn’t pay the invoice on time, your business won’t be on the hook for it.
Some firms advertise “non-recourse” factoring, but on the contract, they list several reasons why an invoice can be exempt from no recourse. Other factors will offer partial-recourse agreements. Small businesses should tread cautiously and read their entire contract carefully to make sure what they will and won’t be responsible for if their clients don’t pay the invoice or pay the invoice late.
Spot Factoring vs. Contract Factoring
Spot factoring is when a company sells and assigns a single invoice to a factor. While this might be preferred by the company, many invoice factoring companies do not prefer to factor in this way. Factors don’t like spot factoring because the application process and underwriting isn’t significantly different than if they were to factor all your invoices. That means the factor is doing more work by not able to earn much money off your account.
Contract factoring is far more common that spot factoring and typically requires a minimum monthly volume be factored with them (usually $10K+), or that every invoice to a specific customer be factored.
In general, we’re not fans of the long-term commitments required by contract factoring. Many small businesses often have a variety of customers who pay on different terms, and their financing needs may change, making the flexibility of spot factoring a better option. Fundbox lets you choose which invoices to clear and when to clear them. This gives your small business a high degree of flexibility.
Industry Familiarity
Factoring is an area in which industry familiarity matters. The industry you and your customers are in can affect your terms and cost. Some factors specialize in providing financing to specific industries. Conversely, some factors won’t provide financing to certain types of industries.
Do your research and find a factor that understands the needs and norms of your industry.
Invoice Factoring vs Invoice Financing: Which is Right for Your Business?
Invoice financing (aka accounts receivable financing or AR financing), is a technology based financing solution that gives you a simple way to fix your cash flow problems by advancing payments for your outstanding invoices.
Invoice financing does not require the sale or assignment of invoices, and there is no third party interaction between your provider and your customers. This makes invoice financing faster and easier than traditional invoice factoring.
“Invoice financing is different from invoice factoring in a few important ways,” says Fundbox CEO, Eyal Shinar. “First, invoice financing doesn’t interfere with your clients relationships. Most factoring companies will collect directly from their customers’ clients, which can create an awkward dynamic. Also, invoice financing companies will often advance a larger percentage of the invoice value (up to 100%) whereas factoring companies often only give around 85% of the value. Finally, with invoice financing you can advance as many, or as few, invoices as you want and you’ll only pay fees when you advance. Often factoring companies purchase all of a small business’s accounts receivables so the business might get saddled with a lot of unnecessary debt.”
If your business is looking for a seamless, fast invoice financing solution, set up an account for free at Fundbox. Sync your accounting software and see if you qualify for financing. With rates as low as 0.5% per week and funding up to $100k, Fundbox can help you turn unpaid invoices into cash, fast.
While the terms invoice factoring and invoice financing are often used interchangeably, they are different funding options. Let’s look at how Invoice Financing compares to Invoice Factoring in the table below.
Invoice Financing vs Invoice Factoring
| Invoice Financing(Accounts Receivable Financing) | Invoice Factoring | |
|---|---|---|
| Amount You Can Borrow | $100 - $100,000 | $10k - $10+ million |
| Advance Rate | 100% | 80% |
| Time to Qualify | Within hours | 2-7 Days |
| Documentation Required | Online application Allow online connection from financing provider to your accounting software | Application with basic personal and business information Accounts receivable aging report Accounts payable aging report Tax returns (personal & business) Corporate paperwork |
| Assignment of Invoice? | No | Yes |
| Does the Factor Contact Your Customers? | No | Yes |
| Apply for Financing | Visit Fundbox | Find a Factor |
When Invoice Factoring is the Right Option
Invoice factoring is right for you if you need a consistent cash flow solution and you invoice B2B or B2G customers. You must be prepared to bring a partner into your business that is going to be working with you on invoice collection for the foreseeable future. Some of the characteristics that may draw you to invoice factoring include:
- Factoring is a relationship driven financing option: When working with an invoice factoring company, you and the factor will be in regular contact, typically every week. You’ll work together to factor new invoices, collect outstanding invoices, and make repayment decisions. Your factor can help you simplify your cash flow conversion process.
- Your customer’s creditworthiness is more important than yours: Another aspect of invoice factoring that can be a huge benefit to small business owners is that you’re relying on your customer’s creditworthiness, not your own. So if your business has incurred some credit card debt during a slow season (and saw your credit score decline as a result) but is billing on a big contract now, invoice factoring is a way to avoid the usual credit requirements for more traditional loans.
When Invoice Financing is the Right Option
“Invoice financing can be a great solution for businesses looking to grow at a controlled pace. With invoice financing, you’re leveraging your business’s existing cash flow to grow, so there’s less of a risk of over-extending your business with too much credit or credit at unfavorable terms,” say Eyal Shinar. “Similarly, invoice financing doesn’t rely on traditional credit underwriting the way a line of credit or term loan would, which makes it a good option for businesses that may have less than stellar credit scores. So if you’re a business looking to grow or manage your cash flow more effectively, invoice financing may often be a smart way to do so.”
Invoice financing is typically right for you if you’re looking for financing to solve a short-term cash flow issue or are looking to generate some short-term growth capital. You may also want to consider invoice financing if you’re looking for any of the characteristics that invoice financing has over invoice factoring, which include:
- Faster than Factoring: Invoice financing companies like Fundbox can fund your invoices as soon as 1 business day. You don’t have to mess with assignment notices because invoice financing is more like a line of credit product in that you are borrowing based on your accounts receivable.
- More Flexible than Factoring: One of the best things about invoice financing is its flexibility. You can finance specific invoices which match your working capital needs in terms of both dollars and timing. For example, if you need money to cover three weeks of expenses, you can pick an invoice to finance which gives you the cash to cover your next three weeks’ worth of business expenses.
- Easier than Factoring: Invoice financing is usually easier to qualify for than invoice factoring and the process is faster. This is thanks to the technology they use to speed up the process and give your application an approval within a matter of hours. With a company like Fundbox you can apply today and potentially have funds as quickly as tomorrow.
- No Hidden Fees: With invoice financing, you pay back each invoice within 12 or 24 weeks by paying one weekly payment that covers the cost of the invoice for 1 week and a small fee. The nice thing about invoice financing is that there are typically not any extra fees like there can be with invoice factoring. It is much easier to determine what you will be paying before you decide to borrow.
- No Third Party Interaction With Your Customers: Because you do not assign your invoices to your provider there is no need for them to ever contact your customers.
If you think invoice financing is a better fit for your business, read our guide on the best accounts receivable financing companies. Fundbox can approve your business within hours and help you get funded for your unpaid invoices in as soon as one business day. Their flexibility allows you to pick and choose which invoices you want to finance, and they will never contact your customers.
Bottom Line
Factoring can seem a little more complicated than getting a loan from a bank. However, what makes factoring complicated is also what makes it appealing. You can borrow money based on your unpaid customer invoices to meet your immediate cash flow needs. As long as your clients pay in a timely manner, the cost of factoring is more affordable than many other short term business loan alternatives.
Fundbox offers fast, affordable invoice financing of up to $100K. With rates as low as 0.5% per week and repayment periods of 12 or 24 weeks, Fundbox makes waiting for invoices to be paid a thing of the past. Opening an account at Fundbox is free. If you’re approved after syncing your accounting software, you can just pick and choose which invoices to clear, with funds transferred as soon as 1 business day.
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Source: http://docphy.com/business-industry/business/invoice-factoring-works.html
Advance Your Understanding of the Human Mind with a Master's in Psychology Online
The importance of behavior as a factor in addressing social issues is becoming increasingly obvious. Radical transformations in globalization are having a discernible impact on the psychological well-being of individuals, communities and organizations worldwide.
The accredited master’s in psychology online at Southern New Hampshire University prepares you to become an important part of the diagnosis and solution for employers seeking to maximize an organization’s performance. You’ll deepen your understanding of research methods, cognitive psychology, social psychology, personality, learning theory and ethical practice while focusing on the real-world application of psychological research.
The Psychology of Preparing for a Penalty Kick
A goalkeeper has 0.08 of a second to make a decision on how to stop a penalty kick, Dr. Michael Hendery, SNHU’s psychology chairman, told former MLS player Calen Carr. Years of training plus split-second information processing can help pull out a win.
| Concentrations |
|---|
| Psychology (MS) - Child & Adolescent Development Psychology |
| Psychology (MS) - Forensic Psychology |
| Psychology (MS) - Industrial Organizational Psychology |
See Yourself Succeed with an MS in Psychology
Our master's in psychology online degree program offers the flexibility to pair your psychology studies with the exploration of complementary disciplines. The eight-course core features classes in psychology research, measurement, ethics and more. The MS in Psychology degree culminates in a capstone and seminar, in which you'll integrate all you've learned into a faculty- and peer-reviewed project centered on a contemporary issue in psychology.
As a private, nonprofit university, SNHU has one mission – to help you see yourself succeed. The benefits of earning your master's in psychology at SNHU include:
Affordability. Take advantage of some of the most affordable tuition rates in the nation
Convenience. Attend class when it’s convenient for you - online education means 24/7 access
Efficiency and flexibility. Complete your graduate degree in as few as 15 months, with two courses per 10-week term
Expert instruction. Learn from instructors with relevant, real-world experience
Minimal requirements. No GRE or GMAT required for admission
Networking. Tap into our nationwide network of alumni for internship and career opportunities
Student support. Count on the ongoing support of dedicated academic and career advisors specialized in your area of study
Admission Requirements
Acceptance decisions are made on a rolling basis throughout the year for our five graduate terms. You can apply at any time and get a decision within days of submitting all required materials. To apply, simply contact an admission counselor, who can help you explore financial options. Your counselor can also walk you through the application process, which involves completing a graduate application ($40 fee) and providing undergraduate transcripts.
The online master’s in Psychology degree program requires individuals to have earned a BA/BS in Psychology or a bachelor’s degree in another discipline and have completed undergraduate coursework in the following three areas:
- Introduction to Psychology
- Social science statistics
- Research methods in a social science
For those who do not meet the minimum requirements, the following courses may be required:
- PSY-500: Foundations of Psychology
- SCS-501: Foundations in Statistics
- SCS-502: Foundations in Research Methods
This program does not prepare you for state licensure.
Career Outlook
Our master's in psychology online degree program will position you to pursue doctoral-level coursework or a career in health services, criminal justice, education or human resources. Upon graduation, you’ll possess the knowledge, skills and dispositions necessary for affecting change within people and organizations.
While this online degree does not lead to any form of licensure, you'll graduate from SNHU with an understanding of psychological theory and methods applicable in a variety of nonprofit, corporate and education settings. The U.S. Bureau of Labor Statistics predicts that demand for psychologists with doctoral degrees is expected to grow.
Curriculum
The MS in Psychology curriculum will provide you with a foundation in research methods, critical thinking, problem solving and applying theory to practical applications. Courses are taught by instructors with professional credentials and experience.
Tuition & Fees
Tuition rates for SNHU's online degree programs are among the lowest in the nation. We offer a 25 percent tuition discount for active-duty service members and their spouses.
| Online Graduate Programs | Per Course* | Per Credit Hour* |
|---|---|---|
| Degree/Certificates | $1,881 | $627 |
| Degree/Certificates (Active duty Military and their spouses) | $1,410 | $470 |
*Tuition Rates are subject to change and are reviewed Annually.
Additional Costs:
$40 Application Fee, $150 Graduation Fee, Course Materials ($ varies by course)
University Accreditation
Southern New Hampshire University is a private, nonprofit institution accredited by the New England Association of Schools and Colleges as well as several other accrediting bodies
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Source: http://docphy.com/business-industry/higher-education/advance-understanding-human-mind-masters-psychology-online.html
5 Hot Mobile Phone Business Start Up Opportunities
Starting a mobile phone or cell phone business can be a profitable business opportunity in a growing market. At the Consumer Electronics Show, Dr. Eli Harary stated, “the mobile phone market is the mother of all growth markets.”
How big is the cell phone wireless market?
The boom in mobile phone usage expands around the globe covering all income spectrums.
Companies from all industries and markets are vying for a share of a large and ever-growing mobile pie including RIM, Apple, Microsoft, and Google. With a flood of large competitors, is there room to start a mobile phone business?
Big business means big investments in technology and infrastructure to further build out the business. For the small player, the opportunity to start a cell phone business exists on the fringes or niche markets.
Fueling the growth of the cell phone market is the evolution of standard cell phones to smartphones capable of more than a simple phone call.
Smartphones allow users to browse the Web, get GPS directions, listen to music, share photos and other forms of social networking, use email and run applications such as games and more.
Opening a retail cell phone store is one route to get into the business. However, retail can be an expensive, competitive, low margin game. Alternative business opportunities exist for the mobile business.
The hottest opportunities to start a mobile phone business include:
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Source: http://docphy.com/business-industry/business/5-hot-mobile-phone-business-start-opportunities.html
Cell Phone Business Market - No Longer Luxury
How big is the cell phone wireless market?
The boom in mobile phone usage expands around the globe covering all income spectrums.
A cell phone is no longer an expensive business luxury or status symbol but a necessity for many.
Companies from all industries and markets are vying for a share of a large and ever-growing mobile pie including RIM, Apple, Microsoft, and Google. With a flood of large competitors, is there room to start a mobile phone business?
Big business means big investments in technology and infrastructure to further build out the business. For the small player, the opportunity to start a cell phone business exists on the fringes or niche markets.
Mobile Phone Business Driven by Smartphones
Fueling the growth of the cell phone market is the evolution of standard cell phones to smartphones capable of more than a simple phone call.
Smartphones allow users to browse the Web, get GPS directions, listen to music, share photos and other forms of social networking, use email and run applications such as games and more.
Opening a retail cell phone store is one route to get into the business. However, retail can be an expensive, competitive, low margin game. Alternative business opportunities exist for the mobile business.
5 Hot Mobile Phone Business Opportunities
The hottest opportunities to start a mobile phone business include:
- Mobile Marketing: With more than six billion mobile phones around the world, the potential is huge. Spending on mobile ads is only a small fraction of the $500 billion ad market, but the growth potential is huge.
- Mobile Phone Apps: Third party applications ranging from business productivity to game downloads offer a viable business opportunity. Simple apps like Ocarina allowing iPhone users a way to turn their phone into a wind instrument is a top 99 cent download. Apple, RIM, and other companies provide a third party application developers fund to fuel investment in the app development market.
- Mobile Web Design: Some websites are mobile ready but many are not. The challenge of fitting web pages on tiny screens for multiple devices with easy navigation is a market need that's rapidly expanding.
- Location Based Services: Cameras in the phone were a killer application but now having GPS (Global Positioning Satellite) on the mobile phones provides a host of new business opportunities having to do with the ability of the GPS to provide services with the location of the user. How does this work? You're walking past a department store and you get an alert that an item you've bought before is available there on sale.
- Accessories: From fashion conscious teens to savvy soccer moms, the need to customize, personalize and bling out your cell phone is a strong market. Smartphones Experts, a network of mobile phone e-commerce stores, grew from under $500,000 in revenue to over $16 million in 3 short years. What's your mobile phone accessory idea? There is room for many more.
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Source: http://docphy.com/business-industry/business/5-hot-mobile-phone-business-start-opportunities.html
Auto Insurance Requirements in Texas
Auto insurance in Texas is mandatory. Drivers must carry proof of insurance in the vehicle at all times. All laws should be observed to prevent accidents and reduce insurance costs.
Auto insurance is mandatory, but insurance costs are manageable if the rules are followed and costs are kept low. Insurance deals are obtained when drivers have a responsible history and know the applicable laws.
• Government-mandated insurance law. Insurance in Texas is mandatory. Drivers must have at least $30,000 worth of coverage for one person, $60,000 per injured person in an accident, and $25,000 for property damage.
• Proof of Financial Responsibility is Required at All Times. Drivers must have proof of insurance or they may be fined between $175 and $350. If the law is violated more than once, fines up to $1000 may be assessed, and the driver’s license may be suspended. The driver’s vehicle may also be impounded.
• Uninsured Vehicle Reduction Program.The number of uninsured motorists decreased when the TexasSure electronic verification program was implemented. This database links every registered vehicle with license plate number and also insurance policy number. Even though this system is in place, drivers are allowed to keep proof of insurance in the vehicle at all times.
Insurance fraud is defined when people intentionally deceive the insurance company for financial gain. It is considered a crime in Texas. Common insurance fraud includes falsely reporting a car stolen or intentionally damaging a vehicle and collecting insurance payouts. Auto insurance fraud causes insurance companies to raise rates to compensate for monetary losses due to fraudulent claims.
A fraud conviction may include a prison sentence of several years in Texas. A fine of up to $50,000 may also be included with this sentence. In some states, the financial penalties would increase up to $100,000, and jail time would be assessed up to 15 years.
In any given year, the number of alcohol-related accidents in Texas have equaled over 26 percent of the total number of accidents. This could equate to 1,000 accidents or more. According to some sources, Texas has more alcohol-related accidents than any other state.
Experts attribute this to the fact that residents in counties without alcohol have to drive farther from their homes to consume alcohol. This increases impaired driving. Texas is currently seeking extra federal funding to reduce the number of DWIs and DUIs.
In Richardson, Texas, it is illegal to do u-turns. Drivers in the area must find a place to make a proper right or left turn to get into the proper direction.
Did you know that it is illegal to drive a vehicle on Broadway before 12 P.M. on Sundays in Galveston? Drivers may be ticketed and fined for this violation.
If a horse and buggy is the preferred vehicle of choice, it cannot be driven through the town square.
Auto Insurance Center Methodology
Auto insurance quotes are for a hypothetical driver who has state minimum coverage with $500 deductibles for one vehicle. The driver is male or female, 35 years old, has good credit, a college degree, and is employed with a clean driving record, no lapse in coverage, or claims. The vehicles are driven 16,000 miles per year for commuting and are garaged on premises. The auto quotes include common discounts and are estimates, but not guaranteed.
What Can Car Buyers Expect in 2018? More Technology and a Family Focus
When Will Driverless Cars Come to Your State?
Audi Debuts Navigation Feature that Counts Down to Green Light
Will My Auto Insurance Pay to Repair a Cracked Windshield?
What Is Uninsured Motorist Insurance?
Why Hawaii Has Cheap Insurance Rates for Teen Drivers
Do Higher Speed Limits Result in More Fatal Crashes?
Sharing the roads with the uninsured
Report predicts spike in pedestrian deaths
‘Crash for cash’ schemes mean big business for crooks
Red light, speed cameras: Friend or foe?
Perils of the Parking Lot: Why You're Still at Risk at Low Speed
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Source: http://docphy.com/business-industry/personal-finance/insurance/auto-insurance-requirements-texas.html
Auto Insurance in Texas
Auto insurance is mandatory, but insurance costs are manageable if the rules are followed and costs are kept low. Insurance deals are obtained when drivers have a responsible history and know the applicable laws.
Texas Auto Insurance Quotes
Houston Auto Insurance
Houston is Texas' largest city and ranks as the fourth largest city in the nation. Known as the Bayou City, Houston is home to the Texas Medical Center and also the Port of Houston. Residents speak almost 100 languages.
The Museum District is a popular tourist spot that includes the Houston Museum of Natural Science, the Houston Children's Museum and the city's only zoo. Each spring rodeo-lovers descend on the city for the Houston Livestock Show and Rodeo. Space Center Houston, which is southeast of downtown, offers exhibits and tours related to NASA.
| City | Single | Married | ||||||||
| Sedan | Suv | Coupe | Truck | Hybrid | Sedan | Suv | Coupe | Truck | Hybrid | |
| Houston | $1,934.00 | $1,504.00 | $1,934.00 | $1,782.00 | $2,050.00 | $1,790.00 | $1,400.00 | $1,791.00 | $1,656.00 | $1,892.00 |
San Antonio Auto Insurance
San Antonio was named for Saint Anthony of Padua by a 1691 Spanish expedition that was sent to the area. The city has several Fortune 500 companies and many military installations. Its continuous growth has made it the seventh most populated city in the nation.
More than 20 million tourists visit the city every year with the Riverwalk being a big attraction. Among other points of interest are the Alamo and SeaWorld. The Alamo, which is located downtown, is part of the San Antonio Missions National Historical Park. It's also a UNESCO World Heritage Site.
| City | Single | Married | ||||||||
| Sedan | Suv | Coupe | Truck | Hybrid | Sedan | Suv | Coupe | Truck | Hybrid | |
| San Antonio | $1,709.00 | $1,338.00 | $1,712.00 | $1,588.00 | $1,811.00 | $1,588.00 | $1,252.00 | $1,592.00 | $1,484.00 | $1,680.00 |
Dallas Auto Insurance
Dallas, known to locals as Big D, has an economy primarily based on banking, commerce, telecommunications and energy. Dallas has more shopping centers per capita than any other city in the nation. Highland Park Village, which opened in 1931, is the second oldest shopping center in the nation.
The State Fair of Texas is a big draw to the city, as well as the Arts District. The Dallas Museum of Art, the Morton H. Meyerson Symphony Center and the Nasher Sculpture Center are part of the district. The Texas School Book Depository, which is infamous for the gunman's location in the assassination of President John F. Kennedy in 1963, is a historical museum covering the former president's life and his political achievements.
| City | Single | Married | ||||||||
| Sedan | Suv | Coupe | Truck | Hybrid | Sedan | Suv | Coupe | Truck | Hybrid | |
| Dallas | $1,902.00 | $1,482.00 | $1,909.00 | $1,762.00 | $2,018.00 | $1,765.00 | $1,383.00 | $1,773.00 | $1,642.00 | $1,870.00 |
Austin Auto Insurance
Austin is the capital of Texas and home to the University of Texas. It's had explosive growth in the last two decades making it the second largest state capital city in the United States after Phoenix. Known as "The Live Music Capital of the World," the city's unofficial slogan is "Keep Austin Weird."
Visitors come to Austin for the SXSW music, film and technology festival held each year and the Austin City Limits music festival. The Texas State Capitol complex is popular for tourists as are outdoor attractions, such as the Lady Bird Johnson Wildflower Center and Barton Springs Pool.
| City | Single | Married | ||||||||
| Sedan | Suv | Coupe | Truck | Hybrid | Sedan | Suv | Coupe | Truck | Hybrid | |
| Austin | $1,622.00 | $1,270.00 | $1,632.00 | $1,516.00 | $1,722.00 | $1,508.00 | $1,188.00 | $1,518.00 | $1,415.00 | $1,598.00 |
Fort Worth Auto Insurance
Fort Worth was known as an important trading post for cowboys at the end of the Chisholm Trail. The city is home to TCU, Texas Wesleyan, the University of North Texas Health Science Center and the school of law for Texas A&M. Fort Worth also is a major part of the Dallas-Fort Worth-Arlington metropolitan area in north Texas.
Popular tourist attractions include the cattle-themed Stockyards National Historic District, Texas Motor Speedway and the Fort Worth Zoo. Guests to the city can also check out the National Cowgirl Museum and Hall of Fame. Other museums of note include the Kimbell Art Museum and the Modern Art Museum of Fort Worth.
| City | Single | Married | ||||||||
| Sedan | Suv | Coupe | Truck | Hybrid | Sedan | Suv | Coupe | Truck | Hybrid | |
| Fort Worth | $1,644.00 | $1,286.00 | $1,652.00 | $1,530.00 | $1,742.00 | $1,528.00 | $1,202.00 | $1,536.00 | $1,428.00 | $1,616.00 |
El Paso Auto Insurance
El Paso is known as "Sun City" because the sun shines in this most western of Texas cities for more than 300 days per year. It is home several military installations, including Fort Bliss, one of the largest military complexes of the U.S. Army and the largest training area in the United States. Interestingly, El Paso is known as the only major city in Texas on Mountain Time.
Fiesta de las Flores is the oldest Hispanic Festival in the Southwest. The festival celebrates El Paso's Hispanic heritage and culture and attracts tens of thousands of visitors annually. Many tourists also visit Guadalupe Mountains National Park. There visitors can explore the highest mountain in Texas, which stands 8,749 feet tall.
| City | Single | Married | ||||||||
| Sedan | Suv | Coupe | Truck | Hybrid | Sedan | Suv | Coupe | Truck | Hybrid | |
| El Paso | $1,608.00 | $1,260.00 | $1,597.00 | $1,537.00 | $1,740.00 | $1,498.00 | $1,180.00 | $1,486.00 | $1,436.00 | $1,618.00 |
Arlington Auto Insurance
Arlington is part of the mid-cities region of the Dallas-Fort Worth-Arlington metro area. The city is home to the University of Texas at Arlington. Arlington was founded in 1876 and was named after Confederate Gen. Robert E. Lee's Arlington House in Northern Virginia.
Local attractions include Six Flags Over Texas, an amusement park, and AT&T Stadium, home to the Dallas Cowboys. The Texas Rangers baseball team is based in Arlington, too. The city is the world headquarters for bowling and is home to the International Bowling Museum and International Bowling Hall of Fame.
| City | Single | Married | ||||||||
| Sedan | Suv | Coupe | Truck | Hybrid | Sedan | Suv | Coupe | Truck | Hybrid | |
| Arlington | $1,700.00 | $1,330.00 | $1,705.00 | $1,582.00 | $1,800.00 | $1,580.00 | $1,244.00 | $1,586.00 | $1,476.00 | $1,671.00 |
Corpus Christi Auto Insurance
Corpus Christi is the eighth largest city by population in the Lone Star State. It is home to Texas A&M-Corpus Christi and Naval Air Station Corpus Christi. The name was given to the settlement and surrounding bay by Spanish explorer Alonso Álvarez de Pineda in 1519 when he discovered the bay on the Catholic feast day of Corpus Christi.
Tourists visit the Texas State Aquarium and the USS Lexington Museum on the Bay, which was part of the set for the movie Pearl Harbor. Birdwatchers descend on the city in the winter, while summer guests visit the many beaches along Texas' southern coast.
| City | Single | Married | ||||||||
| Sedan | Suv | Coupe | Truck | Hybrid | Sedan | Suv | Coupe | Truck | Hybrid | |
| Corpus Christi | $1,578.00 | $1,242.00 | $1,589.00 | $1,464.00 | $1,664.00 | $1,468.00 | $1,162.00 | $1,478.00 | $1,366.00 | $1,544.00 |
Plano Auto Insurance
Located just north of Dallas, Plano is the home to well-known corporations, such as Dr Pepper, Frito-Lay and Toyota Motors USA. Settlers suggested the name as a reference the Spanish word for "flat." It is the ninth most populous city in the Lone Star State.
Looking for outdoor activities? Try Arbor Hills Nature Preserve or the Heritage Farmstead Museum. Historic downtown Plano offers shops and restaurants. Nearby Bob Woodruff Park and Oak Point Park and Nature Preserve, meanwhile, are connected by biking trails, making the green space one large uninterrupted park for visitors and residents to enjoy year-round.
| City | Single | Married | ||||||||
| Sedan | Suv | Coupe | Truck | Hybrid | Sedan | Suv | Coupe | Truck | Hybrid | |
| Plano | $1,666.00 | $1,304.00 | $1,678.00 | $1,545.00 | $1,760.00 | $1,548.00 | $1,218.00 | $1,560.00 | $1,442.00 | $1,632.00 |
Laredo Auto Insurance
Laredo is on the north bank of the Rio Grande in South Texas, across from Nuevo Laredo, Tamaulipas, Mexico. The city was founded in 1755 and grew from a village to the largest inland port on the U.S.-Mexican border. Today, it has four international bridges and a bridge for trains.
The city's biggest festival is Washington's Birthday Celebration which draws hundreds of thousands of tourists. Guests can visit the Republic of the Rio Grande Capitol Building Museum, which was once the capitol building for the short-lived Republic of the Rio Grande. Astronomy lovers might like the Lamar Bruni Vergara Science Center Planetarium with its amazing images of the night sky.
| City | Single | Married | ||||||||
| Sedan | Suv | Coupe | Truck | Hybrid | Sedan | Suv | Coupe | Truck | Hybrid | |
| Laredo | $1,794.00 | $1,398.00 | $1,760.00 | $1,714.00 | $1,950.00 | $1,666.00 | $1,306.00 | $1,634.00 | $1,597.00 | $1,810.00 |
Texas Auto Insurance Facts
• Government-mandated insurance law. Insurance in Texas is mandatory. Drivers must have at least $30,000 worth of coverage for one person, $60,000 per injured person in an accident, and $25,000 for property damage.
• Proof of Financial Responsibility is Required at All Times. Drivers must have proof of insurance or they may be fined between $175 and $350. If the law is violated more than once, fines up to $1000 may be assessed, and the driver’s license may be suspended. The driver’s vehicle may also be impounded.
• Uninsured Vehicle Reduction Program.The number of uninsured motorists decreased when the TexasSure electronic verification program was implemented. This database links every registered vehicle with license plate number and also insurance policy number. Even though this system is in place, drivers are allowed to keep proof of insurance in the vehicle at all times.
Insurance Fraud in Texas
Insurance fraud is defined when people intentionally deceive the insurance company for financial gain. It is considered a crime in Texas. Common insurance fraud includes falsely reporting a car stolen or intentionally damaging a vehicle and collecting insurance payouts. Auto insurance fraud causes insurance companies to raise rates to compensate for monetary losses due to fraudulent claims.
A fraud conviction may include a prison sentence of several years in Texas. A fine of up to $50,000 may also be included with this sentence. In some states, the financial penalties would increase up to $100,000, and jail time would be assessed up to 15 years.
Alcohol-Related Accidents in Texas
In any given year, the number of alcohol-related accidents in Texas have equaled over 26 percent of the total number of accidents. This could equate to 1,000 accidents or more. According to some sources, Texas has more alcohol-related accidents than any other state.
Experts attribute this to the fact that residents in counties without alcohol have to drive farther from their homes to consume alcohol. This increases impaired driving. Texas is currently seeking extra federal funding to reduce the number of DWIs and DUIs.
Unique Driving Laws in Texas
In Richardson, Texas, it is illegal to do u-turns. Drivers in the area must find a place to make a proper right or left turn to get into the proper direction.
Did You Know? Unique Facts About Texas Driving
Did you know that it is illegal to drive a vehicle on Broadway before 12 P.M. on Sundays in Galveston? Drivers may be ticketed and fined for this violation.
If a horse and buggy is the preferred vehicle of choice, it cannot be driven through the town square.
Auto Insurance Center Methodology
Auto insurance quotes are for a hypothetical driver who has state minimum coverage with $500 deductibles for one vehicle. The driver is male or female, 35 years old, has good credit, a college degree, and is employed with a clean driving record, no lapse in coverage, or claims. The vehicles are driven 16,000 miles per year for commuting and are garaged on premises. The auto quotes include common discounts and are estimates, but not guaranteed.
Insurance Education
Tips Center
What Can Car Buyers Expect in 2018? More Technology and a Family Focus
When Will Driverless Cars Come to Your State?
Audi Debuts Navigation Feature that Counts Down to Green Light
Will My Auto Insurance Pay to Repair a Cracked Windshield?
What Is Uninsured Motorist Insurance?
Why Hawaii Has Cheap Insurance Rates for Teen Drivers
Insurance News
Do Higher Speed Limits Result in More Fatal Crashes?
Sharing the roads with the uninsured
Report predicts spike in pedestrian deaths
‘Crash for cash’ schemes mean big business for crooks
Red light, speed cameras: Friend or foe?
Perils of the Parking Lot: Why You're Still at Risk at Low Speed
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Source: http://docphy.com/business-industry/personal-finance/insurance/auto-insurance-requirements-texas.html
Mobile, Alabama Personal Injury Lawyer
Dedicated, hard-working Alabama law firm you can trust to get the job done right
Personal injury accidents in Mobile, Alabama, can be overwhelming. In a split second, your life can change forever because of a car wreck or another incident involving carelessness or recklessness. That's why you need an experienced lawyer by your side who understands the legal system and knows how to get results.
FREE CASE EVALUATION
Located in Mobile and serving accident victims in the Gulf Coast area, attorney Dean Waite and his legal team thoroughly understand how the justice system works in Mobile County and across Alabama. He has a strong track record of success. Case results matter here.
Dean Waite gained this knowledge through 18 years of hard work as a personal injury lawyer. He's successfully tackled many tough cases, and people respect him and his strong work ethic. But don't take our word for it. Read his testimonials from real people.
VERDICTS & SETTLEMENTS
$22 MILLIONNATURAL GAS EXPLOSION SETTLEMENT & VERDICT
$14 MILLIONDEFECTIVE PRODUCT SETTLEMENT
$9 MILLIONDEFECTIVE PRODUCT SETTLEMENT
$6.75 MILLIONTRUCK ACCIDENT SETTLEMENT
$6.5 MILLIONDUI TRUCK ACCIDENT SETTLEMENT
$612,500TRUCK ACCIDENT
$400,000CAR ACCIDENT SETTLEMENT
$350,000CAR ACCIDENT SETTLEMENT
$350,000MOTORCYCLE ACCIDENT SETTLEMENT
WHAT TYPE OF CASES DOES DEAN WAITE & ASSOCIATES, LLC HANDLE?
No two personal injury cases are ever exactly alike. Each one is unique - just like you. That's why we want to meet with you. We want to learn all about your unique case. That way, we can offer specific advice targeted toward your specific legal issue.
Attorney Waite works with injury victims and their families on a wide range of cases. From car accidents to truck accidents, motorcycle accidents and other personal injury cases, Dean Waite is eager to work with you and help you obtain the compensation you rightfully deserve.
WHY SHOULD I HIREDEAN WAITETO HANDLE MY CASE?
If you've been injured in an accident, you might not be able to work for weeks or months or perhaps even longer. That's why it's important that you have someone on your side, advocating for your best interests.
When you hire us, we can handle all the red tape associated with your accident. From dealing directly with accident investigators to negotiating with insurance companies on your behalf, we can take care of everything so you can focus on what really matters - your recovery.
We don't take a one-size-fits-all approach toward legal cases. We tailor our legal strategy to fit your specific legal issues. We take the time to understand all the issues involved with your legal problem before we offer a solution. We then work aggressively to help you achieve that goal.
THIS MAY BE YOUR ONLY OPPORTUNITY FOR JUSTICE. SEIZE IT.
You have too much at stake to wait to take legal action. Make sure you put your family's best interests first.
DON'T HESITATE ... CALL DEAN WAITE
TOLL FREE 866-434-5840
We understand you might be scared. We realize you might be upset. Knowing what's the right thing to do after a traumatic accident can be confusing. Fortunately, you're not alone. We can help.
Contact our Mobile, AL law firm and schedule a free case evaluation. Available 24/7. We can meet with you in our office, your home, your hospital room or wherever works best for you. And best of all, you don't have to pay us a dime if we don't win your case. That's because you only pay if you win.
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Source: http://docphy.com/business-industry/personal-finance/insurance/mobile-alabama-personal-injury-lawyer.html
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