A common question of late for most business owners is “How is the economy affecting your bottom line?” No business is recession-proof. Given the challenging economy, PMF Bancorp believes a key financial tip for businesses is to ask new clients for advance payments.

Whether the advance payment is partial or full, your fear remains that such tactics will scare off potential clients. Considering the size and nature of the contract at hand, however, PMF Bancorp thinks such a request makes sense. In addition, you should have more confidence in the value of the services or products your business offers.

What is important is not to ask for advance payments with inconsistent criteria. Instead, you should develop specific criteria when it comes to new contracts in terms of amounts and track records. When such criteria are met, advance payments should be requested. PMF Bancorp always provides a credit check service for our clients, and, without question, a routine credit check should be performed before a significant transaction, whether sales or services, is entered into with a new client.

PMF Bancorp recommends that you toughen up your credit policies by reviewing the payment terms you offer to new clients. If you decide to require advance payments, be sure your credit terms are communicated effectively to customers before transactions are competed. If payment policies are stated clearly on a contract or whatever document is used to bind the contract, you are a step ahead of the game. And do not be surprised if you find that other businesses are now requiring new clients to pay 100% of the total fees payable in advance of their services commencing.

PMF Bancorp believes an essential financial tip for businesses is asking either for a deposit or full payment in advance upon starting work for a new client. Finally, always let the client pay in advance when they offer. A mistake businesses often make is not accepting a payment when it’s offered. Always remember if the client offers to pay up front, even if you do not require such payments, take the money with a smile and say thank you.

The business of wholesale food distributors is booming because more and more Americans are choosing to eat at home. The challenge is that booming business means more inventory needed and more cash out of pocket. How do you keep the cash flow smooth and secure? PMF Bancorp has created a number of viable financing programs for wholesalers and distributors through its import financing, accounts receivables, and short term loan financing lending solutions that ensure confidence and continued growth.

With the American economy still reeling and unemployment hovering at over 8%, more and more people find that they cannot afford to eat out. Restaurants are too expensive and fast food simply is not healthy. What has become the most sensible option is to eat at home, and the direct result is booming business for wholesale food distributors. Yes, such an outcome of events is a big positive, but also includes financial challenges and unexpected difficulties.

When wholesale food distributors suddenly find their business booming and a need for increased inventory on account of bigger orders, how are they supposed to cover the new costs? Without question, the money is coming in and more is being made, but there is always a thirty, sixty or even ninety day gap before the cash paid out comes back in the form of profits. What are you supposed to do to cover the financial gap without potentially putting your company at risk of not having enough working capital?

Luckily, PMF Bancorp has an arsenal of proven financial solutions that have worked for wholesale food and other types of distributors as well in the past… and will work for you.

Through factoring and trade financing solutions with a company like PMF Bancorp, you will be able to access much-needed working capital by financing your Accounts Receivables and your inventory needs. You can have the financial resources and confidence you need immediately without the burden of credit checks and jumping through the endless hoops of bank bureaucracy. With a proven track record, PMF Bancorp can help wholesalers of any type take real advantage of the sudden flush of success in sales that could happen as this economy rebounds. Please be prepared as selling is only half the battle…the other half is having enough working capital at the right time.

Why should you have to worry whether you will have enough cash on hand and financial resources to keep up with the new inventory demands or clients that need you to provide extended terms? By contacting PMF Bancorp and accessing a wide array of proven financial services, we can help ensure that your success is successful and does not undermine your business. For more information on customized financing solutions, please contact

ASD Trade Show and ChinaMart Partner to Host Match-Making Event in LA at ChinaMart

ChinaMart® Los Angeles and TopTenWholesale.com bring key sponsors to host Match Making Seminar for China Vice President Xi Jinping and delegation in Los Angeles to promote trade between the two countries.

ChinaMart® Los Angeles is proud to announce its key sponsors for a Seminar Event hosting China Vice President Xi Jinping and business delegation in a visit to Los Angeles ?  PMF Bancorp, TopTenWholesale.com, Manufacturer.com, ASD Tradeshow, Magic Sourcing, Mitchell Silberberg & Knupp LLP, Pepperdine University’s Graziadio Business School, and The World Trade Center Los Angeles-Long Beach (LAEDC/Los Angeles County).

Read the full article here

ChinaMart Los Angeles, TopTenWholesale, Manufacturer.com and Key Sponsors Host China Vice President Xi Jinping and Delegation at Seminar Event in Los Angeles

ChinaMart® Los Angeles and TopTenWholesale.com bring key sponsors to host Match Making Seminar for China Vice President Xi Jinping and delegation in Los Angeles to promote trade between the two countries.

LOS ANGELES, CA – February 8, 2012 –ChinaMart® Los Angeles is proud to announce its key sponsors for a Seminar Event hosting China Vice President Xi Jinping and business delegation in a visit to Los Angeles ? PMF Bancorp, TopTenWholesale.com, Manufacturer.com, ASD Tradeshow, Magic Sourcing, Mitchell Silberberg & Knupp LLP, Pepperdine University’s Graziadio Business School, LA City World Airports and The World Trade Center Los Angeles-Long Beach (LAEDC/Los Angeles County).

Positioned as China’s next president, Vice President Xi Jinping is coming to Los Angeles in an effort to build and maintain political and business relationships. “No matter what changes affect the international situation, our commitment to developing the Sino-U.S. cooperative partnership should never waver in the face of passing developments,” said Vice President Xi at a meeting in Beijing in January 2012.

While Xi Jinping arrives with a political delegation to help enhance diplomatic ties, ChinaMart Los Angeles has been tasked to host his business delegation in order to enhance investment and trade with increasing exports from the US to create a more balanced trade between the two countries.

“ChinaMart’s focus is to attract Chinese investment in the US by creating a one-stop platform for all the necessary components needed to setup a company in the US. “We have been doing this successfully for many Chinese companies since our debut at the Canton Fair in 2007,” said Mr. Stephen Perl, CEO of ChinaMart. “The Chinese government would not have given ChinaMart an official launch if it did not believe in the importance of Chinese companies investing in the US. In fact, the Chinese government’s official stance is to promote its ‘Go Abroad Policy’ which is designed to find ways to assist Chinese companies to expand globally,” states Mr. Perl.

“In terms of GDP, Los Angeles County alone represents the 18th largest economy in the world,” stated Mr. Vance Baugham, the President of the World Trade Center Los Angeles-Long Beach (Los Angeles County).

ChinaMart® CEO Stephen Perl was tasked to host and organize Vice President Xi Jinping’s business delegation track, which begins February 16th with a business mixer and match-making session to promote US exports and imports. The Match Making Seminar will be managed by ChinaMart®’s partners, Manufacturer.com and TopTenWholesale.com, led by CEO Jason Prescott provide ChinaMart® an unmatched online portal for its Chinese clients to sell to 1000s of USA Wholesalers.

“Manufacturer.com and TopTenWholesale.com are the USA’s leading wholesale and manufacturing trade platforms. It’s very exciting to have the opportunity to bring together some of the United States’ largest importers with China’s leading exporters,” said Prescott.” We have been doing business in China for many years. Our platform remains a bridge not only for business, but for governments in China and the USA looking to improve economic and professional trade relations,” he added. Mr. Prescott visited Beijing in December 2011 to execute a Memorandum of Understanding between Jiaozhou and Los Angeles which promises to create jobs and bring new office leasing to Los Angeles from Chinese manufacturers.

For more information on the Match-Making Seminar February 16 at ChinaMart® Los Angeles, please go to TopTenWholesale.com to Register for the Event.

The second portion of the ChinaMart® Seminar will be held the same day at Pepperdine University’s Business School at the Howard Hughes Campus where the Dean of the Graziadio’s Business School, Linda Livingstone, PhD, will introduce Dr. Terry Young, the Chairman of Pepperdine’s Economics Department, who will make a presentation to Vice President Xi Jinping’s business delegation. Dr. Young will speak on US- China Trade relations and the current economic situation between the two countries.

With a strong focus on trade and trade finance, Chinamart® and its key partners, TopTenWholeSale.com, Manufacturer.com, and PMF Bancorp, respectively, have had long standing business ties with China and have the resources to power US imports and exports in the United States and our Southern California region of Los Angeles.

In recent speeches, Vice President Xi Jinping has stressed that China’s “core interests” should be respected, but there is much room for financial and business cooperation between China and the United States. Mr. Perl agrees wholeheartedly and expressed his faith in the economic future of both countries. “I am so proud to be chosen to help host this visit by the progressive Chinese Vice President Xi Jinping because it symbolizes a future of ongoing trade, relations, and the prosperous future growth in our two great countries,” said Perl.

ABOUT 1ST PMF Bancorp ™

1st PMF Bancorp, a leading private US commercial bank lender, specializing in providing working capital for small to mid size businesses in the US and China. With head offices in Los Angeles and branches throughout China, PMF has been a direct lender since 1985 specializing in trade financing. PMF Bancorp’s unique “Supply Chain Trade Finance Program” provides specialized financing, and infrastructure support for businesses growing with international financing requirements. PMF Bancorp also provides a host of credit management services to reduce a company’s risk of selling domestically and internationally.

ABOUT ChinaMart® USA

The ChinaMart® USA with its flagship 300,000 sq ft location at Los Angeles International Airport (LAX) is the only international business platform in the United States of its kind to specialize in attracting Chinese investment to the US with a unique One-Stop Service Program. ChinaMart’s One-Stop Services integrate the Chinese company’s US branch and immigration setup, warehousing, logistics, personnel, and marketing strategies into one package. ChinaMart is a trade platform assisting with imports as well as US exports to China. For more on our programs, please visit our website.

ABOUT TopTenWholesale.com and Manufacturer.com

TopTenWholesale.com and Manufacturer.com are the USA’s largest trade platforms that connect buyers of all types with wholesalers, importers and manufacturers. Over 3,000,000 community members use the online platforms to source products from over 190 different countries. The company is headquartered in Los Angeles, CA and was founded in 2005 by CEO Jason Prescott.

ABOUT ASD

As the producer of the nation’s largest merchandise trade shows, Nielsen Expositions provide a portfolio of innovative face-to-face and online products for the wholesale trade industry. Founded in 1961, the ASD trade show continues to develop new solutions to provide Buyers and Sellers the most comprehensive marketplace in today’s dynamic retail environment. ASD product portfolio connects Sellers from manufacturing to wholesale distribution with Buyers from independent retailers to international chain stores.

In conjunction with ASD, Magic Sourcing will also be sponsoring the Supplier Match Making sessions and breakfast to greet the VIP delegates of Mr. Xi’s delegation.

ABOUT MAGIC

Every August and February, the fashion industry converges in Las Vegas for the most influential event in the business – MAGIC. As an incubator of fashion, MAGIC is where new trends surface and develop into what will be seen on the consumer. The show’s goal is to connect and inspire the fashion community. The February 2012 MAGIC will run from February 13 – 15, 2012. For up-to-date exhibitor listings, seminar scheduling, travel support and registration information please visit MAGIC SHOW LAS VEGAS.

ABOUT 1ST PMF BANCORP ™ : 1st PMF Bancorp, a leading private US commercial bank lender, specializing in providing working capital for small to mid size businesses in the US and China. With head offices in Los Angeles and branches throughout China, PMF has been a direct lender since 1985 with specialty in trade financing.  PMF Bancorp’s unique “Supply Chain Trade Finance Program” provides specialized financing, and infrastructure support for businesses growing with international financing requirements. PMF Bancorp also provides a host of credit management services to reduce a company’s risk of selling domestically and internationally.

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Contact

Cynthia Liu, US-China Liaison

PMF Bancorp

+1 (310) 858-6696 x203

Christina Ku, VP of Operations

China Mart Los Angeles

310-410-8888 8854

 

 

ChinaMart Los Angeles provides Investment Platform for China Vice President Xi Jinping’s Business Delegation to encourage the ‘Go Abroad Policy in China’ (in Chinese)

Link to complete article

As CEO of both ChinaMart® Los Angeles (www.ChinaMartUSA.com) and PMF Bancorp (www.PMFbancorp.com), Stephen Perl is proud to announce that ChinaMart® Los Angeles is organizing the Chinese Vice President Xi Jinping’s Business Delegation to Los Angeles in February 2012.  Positioned as China’s next president, Vice President Xi Jinping is coming to Los Angeles in effort to continuously build both the political and business relationships. “No matter what changes affect the international situation, our commitment to developing the Sino-U.S. cooperative partnership should never waver in the face of passing developments,” Vice President Xi told a meeting in Beijing in January 2012.

While arriving with a political delegation to help enhance diplomatic ties, the other focus of the Vice President’s trip is to build more business relationships and expand professional connections with the Southern California community. Los Angeles County in terms of GDP represents the 16^th largest economy in the world.  Due to long-term relationships, the Canton Fair and Ministry of Commerce requested Mr. Stephen Perl to prepare a Business seminar for Vice President Xi Jinping’s visit to create awareness of his strong interest in continuing to strengthen trade relations and cultural awareness between the two countries. As CEO of both ChinaMart® and PMF Bancorp, Mr. Stephen Perl has worked with the Canton Fair on many events closely over the last decade and built strong business and personal within China.  Mr. Stephen Perl, considered one of the world’s experts on China and its trade with the US, has recently authored a business book designed to help the US and its businesses create stronger relationships in China called, “Dancing with the Dragon: The Secrets of Doing Business with China”.

Mr. Stephen Perl has been asked to host and organize the business delegation track of the Chinese Vice President which will begin on Feb 16^th with a business mixer and Match-Making session to promote US exports and imports at the ChinaMart® Los Angeles (for more info on Match-Making portion of the Seminar: https://www.invoicefactoringus.com/sign-up-for-pmf-bancorp-chinamart-seminars).  After the session, the second portion of the Seminar will move to Pepperdine University’s Business School at Howard Hughes Campus where the Dean of the Graziadio’s Business School, Linda Livingstone, PhD (www.pepperdine.edu) will introduce Dr. Terry Young, the Chairman of Pepperdine’s Economics Department who will make a presentation to the Vice President’s business delegation. Dr. Young will speak on US- China Trade relations and the current economic situation between the two countries at Pepperdine’s Graziadio’s Business School.

With a strong focus on trade and trade finance, Chinamart and PMF Bancorp, respectively, have longstanding business ties with China and have the resources to power US Exports in the United States and our Southern California region of Los Angeles. 

Los Angeles County’s World Trade Center’s President, Vance Baugham, a close partner of ChinaMart® and PMF Bancorp will sponsor and also speak at the event to welcome the delegation.  The World Trade Center Los Angeles-Long Beach’s mission is to facilitate the growth and jobs in Los Angeles County by enhancing trade relations and trade deals with China. The event is also sponsored by the Law Firm of Mitchell Silberberg & Knupp LLP (“MSK” –www.msk.com).   MSK is a leading US private law firm specializing in corporate law, litigation, Immigration with specialties in entertainment, real estate, and international business.  Mr. Les Gold, Chair of their Corporate Depart at MSK will provide a welcome address at the Pepperdine Lunch event as well.

In recent speeches, Vice President Xi Jinping has stressed that China’s “core interests” should be respected, but believes that there is much room for financial and business cooperation between China and the United States. Stephen Perl, CEO of ChinaMart and PMF Bancorp, agrees wholeheartedly with the Chinese Vice President. Stephen Perl expresses his faith in the economic future of both countries: “I am so proud to be chosen to help host his visit by the progressive Chinese Vice President Xi Jinping because it symbolizes a future of ongoing trade, relations, and the prosperous future growth in our two great countries.”

ABOUT 1ST PMF BANCORP ™ (http://www.PMFbancorp.com): 1st PMF Bancorp, a leading private US commercial bank lender, specializing in providing working capital for small to mid size businesses in the US and China. With head offices in Los Angeles and branches throughout China, PMF has been a direct lender since 1985 with specialty in trade financing.  PMF Bancorp’s unique “Supply Chain Trade Finance Program” provides specialized financing, and infrastructure support for businesses growing with international financing requirements. PMF Bancorp also provides a host of credit management services to reduce a company’s risk of selling domestically and internationally.

ABOUT CHINAMART® USA (http://www.ChinaMartUSA.com): The ChinaMart® USA with its flagship 300,000 sq ft location at Los Angeles International Airport (LAX), is the only international business platform in the United States of its kind to specialize in attracting Chinese investment to the US with a unique One-Stop Service Program.  ChinaMart’s One-Stop Services integrates Chinese company’s US branch and immigration setup, warehousing, logistics, personnel, and marketing strategies into one package.  ChinaMart is a trade platform assisting with imports as well as US exports to China.  For more on our programs, please visit our website.

 

BEIJING (Reuters) – China and the United States should cooperate more closely to defuse international crises and ensure friction does not overwhelm shared interests, China’s likely next president, Xi Jinping, said on Monday, setting an upbeat tone for his impending visit to Washington.

“No matter what changes affect the international situation, our commitment to developing the Sino-U.S. cooperative partnership should never waver in the face of passing developments,” Vice President Xi told a meeting in Beijing.

“In dealing with major and sensitive issues that concern each side’s core interests, we must certainly abide by a spirit of mutual respect and handle them prudently, and by no means can we let relations again suffer major interference and ructions.”

Xi’s mood-setting speech did not unveil new policies or give the precise date for his U.S. visit. But he stressed Beijing’s desire for steady relations for his visit and his accession to running the world’s second biggest economy after America’s.

Xi’s growing seniority indicates that he is virtually certain to replace Hu Jintao as Chinese Communist Party chief in late 2012 and then replace him as state president in early 2013.

His trip to the United States will be important for burnishing his credentials, and Washington is also hungry for clues of about his worldview. The official China Daily last week said Xi (pronounced like “shee”) is likely to make his trip in February. Neither government has named a date.

“I will soon visit the United States at the invitation of Vice President Biden, and I hope that my visit can play a positive role in advancing the Sino-U.S. cooperative partnership,” Xi told the gathering of officials, diplomats and scholars commemorating 40 years since U.S. President Richard Nixon made his historic, ice-breaking trip to China in 1972.

Xi was accompanied by Henry Kissinger, Nixon’s national security adviser in 1972, who was instrumental in that trip.

PLENTY TO TALK ABOUT
Yet even with Xi’s upbeat tone, he will have plenty of disagreements to wrestle with in Washington and later on.

Ties between Beijing and Washington have been buffeted by strains over trade, regional policy and military intentions that could be complicated this year by China’s leadership succession and the U.S. presidential race.

The United States has repeatedly complained about its big trade deficit with China, which many U.S. lawmakers says is swelled by Beijing’s controls holding down the value of its yuan currency. Beijing has chided the Obama administration for policies that Chinese official said could undermine the value of their huge holdings of dollar-denominated assets.

Washington has urged China to explain more clearly how it could use its rapidly modernising military forces. Beijing has voiced its own misgivings about the Pentagon’s plans to shore up U.S. military strength across the Asia-Pacific region. Beijing also seethes at U.S. arms sales to Taiwan, the self-ruled island that China calls an illegitimate breakaway province.

Beijing and Washington disagree on how to deal with Iran and North Korea, with the U.S. and its allies favouring firmer use of sanctions and pressure. Xi nevertheless said Beijing and Washington could find common ground over diplomatic crises, as well as climate change and energy, trade, and the direction of global economic growth.

“China and the United States keep close contact, whether in responding to the international financial crisis, climate change and other global challenges, or in dealing with denuclearising the Korean peninsula, the Iran nuclear issue, and the Middle East, south Asia and other regional hotspots,” said Xi who — unlike past Chinese presidents — speaks a clear, standard Mandarin accent.

He said China’s “core interests” should be respected, but stressed room for cooperation and a desire to avoid roller-coaster ups and downs. In August, Xi hosted U.S. Vice President Joe Biden on a visit that gave Washington policy-makers a chance to size up China’s president-in-waiting. Biden will also host Xi when he visits the United States.

Xi is the son of the late, reformist vice premier Xi Zhongxun, making him a “princeling”: one of the privileged offspring of China’s leaders who rose to power under Mao Zedong.

Xi, who rose through the party ranks in coastal provinces, has rarely spoken at length on foreign policy. But in Mexico in 2009, he dropped his guard to growl at the international demands piling up at Beijing’s door.

“Some foreigners with full bellies and nothing better to do engage in finger-pointing at us,” Xi said, in comments that drew applause from Chinese Internet users.

Reporting by Chris Buckley; Editing by Sanjeev Miglani

Sign to meet the Vice Premier’s Business Delegation here.

In a time when banks are under siege and taking it out on small to mid-sized businesses, PMF Bancorp recommends that you decrease your banking partners in order to increase your profits. As we noted recently, Bank of America has changed the structure of their lending deals to help themselves and hurt business owners. By having too many banking partners, you leave your business open to being hurt by hidden fees and increased regulatory hoops. Each bank wants to interrogate your business, not focusing on the reality and the history of your company. Rather than focus on profits coming in and the development of new business, they want to ensure their own safety while leaving your future blowing in the wind.

The number of bank relationships is crucial for the business strategy of your company and thus for its performance. Choosing the number of banking partners, however, is not a straightforward task. On the one hand, single relationships are risky and undesirable when your company has a cash flow crisis and needs liquidity. On the other hand, multiple relationships are costly, in particular for smaller companies. Consider the benefits of using smaller community banks as opposed to the larger financial institutions. According to MultiFunding research, in 2010, the top 25 banks controlled about 61 percent of all deposits, but made only 20.3 percent of all SBA 7(a) loans. Smaller banks held about 39 percent of all deposits but made 79.4 percent of all SBA 7(a) loans.

Without a doubt, it is wise not to use a single bank as your only resource. Building additional financial relationships and having a backup or two makes sense. But never let this impulse take you beyond a definite limit of a few banks. By consolidating your bank accounts, you increase the efficiency of your financial management. As you well know, your company treasurer always should keep track line by line of your company’s bank transactions. Still, by limiting your exposure and negotiating from a stronger base, you can lower bank fees and preferential services can be obtained.

Do not undermine your own business. Make a strong decision in regards to how a potential bank meets the specific needs of your company. Rather than be subject to the whims of the economy and the paranoia of the large financial institutions, make sure you design detailed service level agreements with your chosen banks. In addition, never forget that PMF Bancorp offers you a viable alternative to traditional banking. By embracing the potential of invoice factoring and accounts receivables financing, you naturally avoid the absurd obstacle courses and hidden fees that characterizes the dungeon mentality of modern banking.

PMF Bancorp Offers A Real Alternative With Invoice Factoring

PMF Bancorp is shocked that in tough economic times, a major financial institution like Bank Of America would put the squeeze on small-business loans and cutting off their lines of credit. Under pressure to raise capital and cut risks, Bank of America is severing lines of credit to many small-business owners. The bank is demanding that the businesses pay off their credit line balances all at once as opposed to their regular monthly payments. If they can’t pay in full, they are being offered new repayment plans with far higher interest rates than their original credit lines had.

PMF Bancorp is disgusted by this harsh treatment of small business owners in America. We believe our invoice factoring and accounts receivables financing along with our import financing are the smart alternatives to standard bank loan products, especially Bank of America which seems to be now moving in the opposite direction of small business lending. Business owners complain that Bank of America’s credit squeeze is abrupt and could strain their small companies, even putting them out of business.

The credit cutoff is coming at a time when the California economy can’t seem to catch a break, and bucks what the financial industry says is a new trend of easing standards on business loans. Long-time clients are being forced to make new payments that are nearly ten times as expensive as their current interest-only payments. PMF Bancorp believes that such treatment is downright unfair and a wrong message to send to the American economy.

The capped credit lines stem from a corporate overhaul launched by Brian Moynihan, who became Bank of America’s chief executive in 2010. He promised to address losses caused by reining in risks and shedding all secondary investments.

Although Bank of America claims that a very small percentage of small-business customers have been affected by the changes, the truth is much bleaker. This is why Bank of America refused to provide exact numbers to the press. The bank still has 3.5 million non-mortgage loans to small businesses on its books. While Bank of America is advertising its own commitment to small business, credit cutoffs threatened to hurt the very same businesses they shepherded through the downturn by slashing costs.

Bank of America, regretting past actions, is taking it out on the small business owner. Honestly, enough is enough! If you are a small business owner and you need extra capital, forget about trying to finance a loan from the big banks any time soon. Instead, PMF Bancorp has the answer that you are looking for today.