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PMF Bancorp simplifies the Steps

PMF Bancorp has been providing businesses with solutions to solve their CASHFLOW issues for 30 years through our commercial lending programs that are designed to be business friendly.  When banks say “No”, PMF says, “Yes”.  Factoring and Trade financing should not be dirty words when PMF has had so much success over the decades growing businesses with these product.

PMF’s financing solutions are very effective, but you should look at strengthening fundamentals in receivable management before looking to finance.  At least by doing this, your borrowing will be most efficient.  PMF  strives to be a resource and provide its lines of credits when appropriate.  We are interested in the long term relationship, not the short term gains.   Besides our commercial lending programs which we are happy discuss anytime, a business can take the following steps to mitigate its CASHFLOW needs by taking the following steps…

1. Setup early pay programs with customers that reward them for paying on time or early,
2. Make sure receivable management team has proper training by joining the right credit association groups,
3. Remove the Float from checks in the mail by setting up ACH Payments with customers,
4. Make Invoices with proper language that place collection costs and fee penalties for late pays that can be added to future invoices,
5. Create a standard credit protocol and make sure regular credit monitoring of customers is included in the protocol as the best defense is a good offense,
6. Have directly communications with your customers AP on a regular basis so you can communicate effectively when things are not smooth ,
7. And most importantly, don’t show up to your customers only when there is a payment problem…visiting your main customers is essential at least once a year.

If you need more info on financing to assist with cashflow, then feel free to call 310-858-6696 or email us.

On October 14th, 2013, PMF Bancorp participated in the U.S.-China Trade Event at the LA Hotel in Downtown Los Angeles to promote California and China trade. The Vice Minister of Commerce of China Mr. Wang, Supervisor Michael Antonovitch, and LA Mayor Eric Garcetti all spoke on the value of increasing trade and the meaningful economic stimulus that it brings to our Southern California region. Mr. Stephen Perl, CEO of 1st PMF Bancorp discussed trade finance as a tool for small business to increase trade with Supervisor Michael Antonovitch while also discussing 1st PMF Bancorp’s support for up coming trade mission.

How does a small business import and export goods while keeping solid financing to support the flow? This is a tricky position for many companies and often a balancing act even for the larger companies.  On August 12th, PMF Bancorp explained at their City Club breakfast event that small businesses have many financing options to grow their working capital while the Canton Fair discussed programs that could assist US importers and exporters on the promotion of their products.

The Canton Fair discussed their exporter’s pavilion this October and welcomed many to join. ‘Made in the USA’ products are very popular in China and present the “Next window of opportunity” (for more on this opportunity, ”Dancing with the Dragon” a book on doing business with China can explain.

PMF Bancorp also discussed trade financing and conventional solutions for small business to increase their working capital for their business in the following 3 ways:

1. Businesses can work through Letters of Credit issued by commercial lenders like PMF Bancorp instead of the traditional banks for easier credit standards and more programs;
2. Commercial lenders also have the ability to place the SBA as well non-conventional financing together like factoring for domestic and international orders;
3. Commercial lenders can also provide guarantee and insurance products to secure other forms of lending….

PMF Bancorp would like to invite you to our sponsored Business Social Mixer event to have a relaxing evening with your finance colleagues. The location will be Wokano in beautiful Santa Monica on Aug 15th…click here to RSVP

Finding a business loan has never been easy, but in the next year, it will get increasingly expensive and more difficult for the following 3 reasons (there are more but this article is limited to the most significant issues)…. There is much more volatility than the US and other major governments are letting people know.  Europe and Japan continue to struggle and the major anchors of the BRIC nations like the China and India are slowing down in major ways as well.  Simply put, countries slow, currencies get weaker (typically), markets become more volatile, and this results in loans becoming scarce.

If you are a business owner, small or large, you have to understand how this economic news trickles down to your business…even the likes of Apple, Sony, etc are affected in the same manner.

Why you should find your financing now?

1. US Government as well as other keep devaluing our currency and our economy by printing $100s of Billions per month to influence our markets and pay bills with money they don’t have….these actions will continue to push interest rates up and add to market confusion.

2. The Volatility in the Stock Market will continue to worsen creating tighter credit standards when most traditional lenders are already on the fence about lending to business.

3. Political stability in the world continues to be a major problem and with US Administration/ leaders that lack the obvious experience to lead, it is only a matter of time that we have more catastrophic situations… no new lending happens in this environment.

No matter how good you think you are, if you do not have a seasoned relationship with a lender NOW…you are at risk.  Don’t fool yourself…Apple couldn’t and you cant either.

Stephen Perl, MS , MBA

CEO 1st PMF Bancorp

As I have been yelling for the last 5 years at the top of my lungs, in my book, on my blogs…the US Government needs a lesson in “guanxi” so that they can begin to build the real relations with China on a cultural level of understanding before they talk about human rights, security issues, etc…the US Government needs what I call in my book, a “guanxi bridge” or something that will connect our two cultures in terms of trust. Even though Obama and his administration is still clueless, they have stumbled in the right direction is hosting a one on one meeting with President Xi in Rancho Mirage, CA last weekend. The Polituro or the 8 families that really control China are bent on ruling by consensus as I described in my book, Dancing with the Dragon (2012), because it prevents outside relationships from affecting their style of rule and decision making. However, President Xi and his family line, even though considered to be one of China’s anointed family lines, is still considered the most radical side of their ruling party. President Xi’s father was one of the main players in 1949 Revolution and close friend to Mao; however, his thoughts became a little wild for several decades and the government placed him under house arrest or some sort of control for that period, but then he fell into good graces again and the Chinese government let him run Guangdong (which is now China’s strongest economic State in the south and arguably in the country). Mr. Xi’s father turned Guangdong into the most successful and progressive State in China.

I have been hollowing our US Government needs to first understand Chinese culture before it begins to make deals…one of my friends in the House, Congressman Ed Royce gets it and he also got a copy of my book. Now, if I could only get Obama to read Chapters 2 and 3….our golden window of opportunity is here.

By Stephen Perl, Author of Dancing with the Dragon

PMF Bancorp provides our clients with quality financing solutions in an environment where is inexpensive, but still very hard to get.

Here are the top 5 reasons Invoice Factoring is the best solution for your working capital needs…

1. Cash Flow – Receivable financing and invoice factoring are both viable options for making sure that your balance sheets are on target. Cash flow is essential for making sure that your business is able to remain continue its sales momentum with confidence.
2. Surviving Hard Times – When a billing cycle is delayed, it should not affect your overall business. Invoice factoring and accounts receivables financing provide cash for expenses that might otherwise disrupt a business. A great secondary source of commercial finance, invoice factoring allows businesses to stay afloat during poor challenging economic times.
3. Liquidity – Invoice factoring produces immediate liquidity as opposed to traditional bank lending. There is no bank application for credit and no hoops to jump through in order to prove your business is credit worthy. Your expenses can be covered on short notice with quick payments.
4. Uninterrupted Service For Your Clients And Customers – One reason why this is a great option for businesses is that you get the monetary benefit of selling your invoices – immediate working capital – but your billing process does not have to be interrupted.
5. Industry Specialization – PMF Bancorp finances businesses across the board, but we focus on target sectors. We reduce the risk in the debt collection process by understanding your business. When it comes to trade finance and international finance of credit partners, our specialists have the experience you need and expect.

For more detailed information on Invoice Factoring solutions, feel free to contact 1st PMF Bancorp (Tel: +1-310-858-6696) or use our handy contact form.

PMF Sponsors the China Ministry of Commerce and China Beijing International Fair for Trade in Services (CIFTIS) event at ChinaMart Los Angeles on Wednesday October 11th at ChinaMart Los Angeles at LAX. We would like to invite you to participate in a seminar to learn how to PROMOTE USA SERVICES IN CHINA. China Beijing International Fair for Trade (CIFTIS) will conduct seminar and explain its support service role: www.ciftis.org

Why attend?

• To learn about China’s Service Industry and Support policies from visiting China’s Ministry of Commerce & Beijing Service Fair Officials
• To connect with Chinese service companies in China
• To find US Export Service Company Opportunities
• Learn about ChinaMart USA Platform… the experts in US-China Trade

To attend please sign up here!

PMF Bancorp understands from our years of experience and expertise that the challenge facing most entrepreneurs these days is how to finance small business growth. PMF Bancorp has the secret for solving the common business cash flow problems… however, the environment of traditional bank loans are making it harder and harder to obtain a loan in this economy. Most banks will not approve small business loans until an entrepreneur can prove by jumping through countless bureaucratic hoops that his small business has been profitable for years and is still thriving … and, of course, there should not be a hint of any bad news. The Secret of solving your working capital issue is really simple for PMF Bancorp as PMF has been solving small business working capital problems for over 30 years.

Every business, big or small, at some point encounters cash flow bottleneck when it comes to growth. Hard cash already is demanded for the payroll and maintaining the inventory. Without the cash on hand to take the next step forward, a new small business venture easily can fail. This is where PMF Bancorp comes in to the picture. By providing small business entrepreneurs with its years of experience and customized financing options available beyond the traditional banks and other commercial lenders, a factoring/commercial bank lender expert can open the doors to freedom and flexibility for your business.

After all, the truth is entrepreneurs don’t even like the idea of wasting their time by visiting a bank for their financial requirements. PMF comes to you and visits your business as we know how the small business owner’s time is. The fastest and easiest way for an owner of a small business to overcome cash flow problems instantly is through the business’s invoices. Potential funds are hidden in these invoices but are useless until the customer pays them in full.

PMF Bancorp makes short term loans on receivables, inventory, pos, trade production based on the sales and future of the business. Banks look at the history of a business and PMF’s secret is to look at the future of your business.

PMF will look at:

• Future orders
• Current sales
• Technology and intangible assets/process
• Product type and management experience

The secrets are magical, they are simply common sense…the item most lacking in making loans these days.

PMF’s process is an advantage to the entrepreneur because he/she can earn more by accelerating cash and increasing sales with these extra funds. As a one-stop financial services shop, PMF Bancorp offers the options and the flexibility you need to move forward.

If you want to know more about the financial services of PMF Bancorp that range from accounts receivables financing and invoice factoring to trade financing and international services in China such as credit checks, inspections, etc… please contact us for a free consultation. As an entrepreneur, PMF Bancorp understands that you want to work with a company with the key combination of experience and expertise. By focusing on keeping the cash flowing, we help to ensure your ongoing success.