06 07 2013

06 07 2013

Small Business Owners Focus on Wellness, Employees

It’s no secret entrepreneurs start small businesses to make money. But generating profits isn’t the only aim of small companies. Often, most serve as a local institution and work toward improving their community. Such is the case in a recent Bank of America survey, which found owners are increasingly focused on well-being, personally and financially.

Running a business helps owners get healthy

In its spring 2013 Small Business Owner Report, Bank of America found 53 percent of responding owners said their health has improved along with operating a small business. But it’s not just themselves they focused on; 85 percent said they’ve also taken steps to improve the satisfaction and well-being of employees, which often comes at a price.

Some of the activities used to boost employee happiness were discounting services and/or goods for workers, offering workplace amenities like food and massages (both 31 percent) and team-building exercises and outings (23 percent).

“It’s important to be flexible when it comes to our employees,” said George Montilio, president of Massachusetts-based Montilio’s Baking Company. “We provide very competitive compensation and offer benefits that make sense for us as a business, such as employee discounts.”

However, despite their active lives – 35 percent said they got more exercise running a small business – stress was still a factor for owners: 14 percent cited managing cash flow as a major burden.

General economic outlook positive

The survey also gauged the sentiment of small business owners when it came to the economy. Thirty-one percent said they were likely to hire employees during the next 12 months, while 51 percent expect revenues to increase during the same time frame.

Overall, 41 percent believe the national economy will improve within the next year, and 45 percent said the same about their local economy.

Access to working capital has also improved somewhat for small businesses. Sixty-seven percent said sufficient capital is available to them, while 79 percent of owners who applied for a loan in the past two years received funding.

However, Robb Hilson, small business executive for Bank of America, warned access to capital is only one part of the larger financing picture for entrepreneurs. Hilson noted improving cash flow and investing in new equipment are also key strategies that impact financial health.

As the economy continues its upswing, more small business owners may be encouraged to expand or make operational improvements they put off during the recession. To do so, entrepreneurs can work with National Funding to obtain small business loan or equipment leasing packages.

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General Acceptance

Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.


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To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person and business that seeks a business loan.  What this means for you: When you apply for a loan, we will ask for your business name, address, and Tax Identification Number.  We will also ask for your name, address, date of birth, and other information that will allow us to identify you.  We may also ask to see your driver’s license or other identifying documents.


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The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.


For Equipment Services:

I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) I consent to receive direct mail, faxes, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (8) this request is for business and not for consumer purposes.

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