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Thursday, February 17, 2011

North American Power

People in 17 Deregulated states get to choose who their energy supplier is. Maryland is one of those states. Nothing Changes with their bill and they get a lower rate. North American Power is one of those companies. They currently operate in BGE/PEPCO for the residential markets in Maryland and in all utilities regions for the commercial markets.

Attached is the Terms of Service for Maryland, PEPCO, BGE rate sheets.
If your interested you can sign up at NAPOWER.COM/YPC

The sign up process take about 5 minutes and you have options for 25%, 50%, or 100% Green Energy. A BGE customer could have 100% Green Energy for .1058 cents per kWh at the current time or the low rate of .0939 cents per kWh.

Contact Information

Direct Line - 443-569-6860

Twitter - @YourProcessing

Job Fair

Posted in the BBJ

If you’re in the market for a job, you might want to check out a free job fair coming up at Community College of Baltimore County’s Catonsville campus.

The list of employers scheduled to attend include Signal 88 Security of Maryland, the Maryland Transportation Authority Police and the Maryland Department of Public Safety and Correctional Services. Other employers include First Mariner Bank, Enterprise Rent-A-Car and FutureCare Health and Management.

The event will be held on Wednesday, March 2 from 10 a.m. to 2 p.m. in the K Building, Room 100, at CCBC’s campus at 800 S. Rolling Road in Catonsville. In addition to CCBC, the event is also sponsored by the Baltimore County Chamber of Commerce and the Baltimore County Office of Workforce Development.

There is no charge to attend the event, and advance registration is not required. For questions, call CCBC’s Career Development and Counseling Services office at (443) 840-4435.

It’s not too late for employers to arrange for a table at the job fair. Registration closes Feb. 24. The cost is $160. To register, contact TobyLarue Haynes at (443) 840-3131, or thaynes@ccbcmd.edu

Upcoming Networking Events February - Mid March

BJAC February Networking HAPPY HOUR (Baltimore Junior Association of Commerce)

Thursday, February 17 · 6:30pm - 9:30pm

The Fieldhouse (2400 Boston Street) Canton, Baltimore

YEP Happy Hour Networking Mixer

Wednesday, February 23 · 6:00pm - 8:00pm

ROCKY RUN TAP & GRILL

7900 Ritchie Highway

Glen Burnie, MD

Admission is $5. Drink and food specials will be available.

Thursday Referral Group (Northern Anne Arundel County Chamber of Commerce)
Thursday group meets on the 2nd and 4th Thursday of each month from 8:30 to 9:30 am in the Chamber Conference Room.
Location : Sign-A-Rama Glen Burnie
Next Meeting February 24^th, 2011

Professional Womens' Luncheon (Northern Anne Arundel County Chamber of Commerce)

Thursday, 24 February 2011, 11:30am - 1:00pm

Outback Steak House$16 per person
Location : 7744 Ritchie Highway Glen Burnie, MDMust Register for Event with Chamber
Suggestion is for Woman Only Event

Monday Referral Group (Northern Anne Arundel County Chamber of Commerce)

Monday night group meets on the 2nd and 4th Monday of each month from 5:30 to 6:30 pm in the Chamber Conference Room.
Location : Chamber Conference Room
Next Meeting February 28^th, 2011

Wednesday Referral Group (Northern Anne Arundel County Chamber of Commerce)

Wednesday group meets on the 1st and 3rd Wednesday of each month from 8:30 to 9:30 am in the Chamber Conference Room.

Location : 3rd Floor Conference Room, In Chamber Building.
Next Meeting March 2^nd, 2011

General Membership Meeting (Pasadena Business Association)

March 2, 2011 (Wednesday)

12:00 PM

BBQ, Blues and Seafood

7697 Baltimore-Annapolis Blvd., Glen Burnie, MD

AFTER-HOURS BUSINESS MIXER (Greater Severna Park Chamber of Commerce)
-joint event with the Annapolis and
Anne Arundel County Chamber of Commerce-
Thursday, March 3rd from 5-7 p.m.
FURNITURE SOLUTION, and
ANNAPOLIS HOME MAGAZINE
Where: 1500 Ritchie Highway, Arnold
$15.00 pre-paid (members)
$20.00 members at the door
$35.00 non-members

2011 Annual Scholarship Fundraiser & St. Patrick’s Day Party (Pasadena Business Association)

March 13, 2011 (Sunday)

2:00 PM – 6:00 PM

Wheels of Chance, Silent Auction, and DJ for Dancing

Kurtz’s Beach

2070 Kurtz Avenue, Pasadena, MD 21122-3525
(410) 255-1280

Pasadena Business Association’s Annual Scholarship Fundraiser and St. Patrick’s Day Party.
Proceeds go towards PBA Scholarships for local high school seniors.

Food will be served from 2:00-5:00 pm and includes: raw oysters, oyster stew, corned beef/ham, cabbage, shepherd’s pie, fried chicken, baked pasta, mashed potatoes, country beans, hot dogs, sausage w/ peppers and onions, vegetables with dip, rolls/bread, sheet cake, beer, soda, coffee, and tea. Cash bar.

Silent auction items are needed! Donate a product, craft, or service. It is a great way to promote your business!

Business After Hours Mixer (West County Chamber of Commerce)

3/15 4:30 PM TO 7:00 PM
$10 - Members
$15 - Non-Members

Atlas Container Corporation
8140 Telegraph Road
Severn, MD 21114

LinkAnnapolis Free Networking Event (LinkAnnapolis)

MARCH:
Tuesday, March 15, 2011 5pm-7pm
Venue: The Loews Hotel Weather Rail Bar

126 West Street
Annapolis, Maryland, 21401

Contact Information

Direct Line - 443-569-6860

Twitter - @YourProcessing

Avoiding Identity Theft (Debit/Credit Cards)

The Javelin report found that 8.1 million Americans were victimized last year by identity theft to the tune of $37 billion in stolen assets. It’s a grim reminder that thieves are still trolling for your personal financial information, and vigilance in protecting this information continues to be the best approach.

Here are some reminders on avoiding identity theft:

Use unique passwords for each website you visit, including your favorite shopping site and online bank account. This will limit any breach to just one website, should thieves obtain access to your password.

Check for security measures your bank or a retailer uses for online transactions. This will provide some assurance that the businesses are actively trying to prevent cybercriminals from hacking into your account information.

Thoroughly review all your credit card and bank statements when you receive them. This will help tip you off to unauthorized access to these accounts. Even a small unexplained charge or withdrawal should raise a red flag as thieves may, over time, steal small amounts from thousands of accounts, rather than cleaning out a single account, in hopes of going unnoticed longer. The theft of $4 from a thousand accounts is the same to the thief as $4,000 from a single account.

Monitor your credit history. If someone has stolen personal information, such as your Social Security number, it can be used to apply for credit cards in your name. You can check to see whether this has occurred by using one of a number of services that provide free access to your credit reports; or you can subscribe to a paid service that will monitor the credit reports for you.

If you have the option of using a credit or debit card, opt for the credit card. In general, credit cards offer more protection for consumers. Thieves who get your debit card information can use it to quickly empty your bank accounts.

If you must use your debit card, select the credit card option that doesn’t require you to enter your PIN. Most machines will accept it this way.

Closely inspect an ATM machine before using it. Using a technique known as ATM skimming, thieves sometimes attach their own card-reading devices to a card-swiping slot on an ATM machine to steal your card information. If a machine appears to have been altered or the card-swiper appears to have been tampered with, use another machine.

In general, for any self-service kiosk where you swipe your card at the time of purchase, make sure that the machine has not been tampered with. If it has, take your business elsewhere, or complete the transaction later online or by phone.

Ask for a credit freeze. If you suspect your personal information has been stolen, request the three creditbureaus freeze access to your credit file, which will prevent thieves from opening new accounts with your stolen information.

By following these and other common-sense measures, may help consumers defend themselves.

Contact Information

Direct Line - 443-569-6860

Twitter - @YourProcessing

Wednesday, February 16, 2011

Leasing Cost Analysis

To give an example of how a leasing can help businesses with their cash flow as well as the added benefit of tax deductions, see the Analysis below.

1 ) Equipment Cost: $15,000.00

2 ) Monthly Lease Payment Equipment Cost: $375.00

3 ) Annual Gross Cost ($357.00 x 12mo): $5,625.00

4 ) Tax Deduction (Estimated 40% of Annual Gross Cost): $2,250

5 ) Net Annual Cost (Annual Gross Cost minus Tax Deductable Amount): $3375.00

6 ) Net Cost per Month (Net Annual divided by 12): $281.25

7 ) Net Cost Per Day (Net Cost Per Month divided by 22*): $12.78

8 ) Net Cost Per Hour (Net Cost Per Day divided by 8**): $1.59

*22 is average business days in a month (you can adjust for your schedule)

**8 hours, based on the average business schedule

Contact Information

Direct Line - 443-569-6860

Twitter - @YourProcessing

Restaurant Equipment Leasing

Our Leasing Partners are constantly expanding with new equipment industries we specialize in leasing for. One of our newest lines is the restaurant equipment industry. With commercial restaurant equipment we see there are some pieces better suited for leasing than buying outright. Examples of these items are, but not limited to, Coffee Makers, Commercial Dishwashers, Ranges, and Ice Makers. One of the major benefits to leasing restaurant equipment is that it can save restaurateurs large sums of money when opening a new restaurant.

If you have decided to go with an equipment lease, here are the steps to follow with our Leasing Partners:

1. Figure Out The Equipment You Are Looking For
There are numerous equipment suppliers out there who can help you with finding the best equipment for your establishment. Our Leasing Partner’s role in your purchase is to help you with the funding of this equipment by offering terms that meet your needs. Make sure when looking at equipment suppliers you look at the service/maintenance package the supplier offers as well as their deliver and installation policy. Once you have determined the supplier and the equipment contact us to initiate the leasing paperwork.

If you are unable to find an equipment supplier or don’t know where to begin, please contact us for a list of our preferred Vendors.

2. Work With The Supplier To Determine A Program That Fits Your Needs
Our Leasing Partner offers numerous programs with restaurant equipment leasing. Work with the supplier to determine a payment and term that works for you.

Most vendors will add service, maintenance, delivery, and install to the overall cost of the lease.

3. Credit Check

Be prepared, if you have chosen to go with leasing for your restaurant equipment be aware that there will be a credit check. Based upon your credit score, this credit check can determine the payment for your equipment outside of what was already discussed.

4. Get Ready For Delivery

Upon approval of the lease, Our Leasing Partner will work with your equipment supplier to schedule payment for the equipment. The equipment provider will most likely work with you to determine the best date of install. Your first payment will be due 10 days after the installation of your equipment, make sure your funds are available.

Contact Information

Direct Line - 443-569-6860

Twitter - @YourProcessing

Leasing Office Equipment

Every business, both new and existing comes to a point where purchasing and/or replacing office equipment becomes a necessity. When making the decision to purchase or lease your equipment there are some major items to look at before making the decision either way:

1) Cash Flow

2) Working Capital

3) Equipment your business needs

Take a moment and determine the equipment that you will need for your business. If you are purchasing equipment to replace old equipment this can be a simple task. Either way, if you are furnishing a new office place or replacing old equipment, large sums of cash will be going out to do so. This in turn can seriously limit your cash flow and working capital. With our lease you can better manage your cash flow with set monthly lease payments and at the end of your lease, you have the added bonus of a $1.00 buyout option.

Also, when looking to purchase or replace your equipment you may find a need for certain equipment, but your budget may not allow for that specific equipment. With leasing, you can get the equipment that you need, with no out of pocket expense.

If you find that the option to leasing would be a better fit for your business. Contact us today and we can direct you to one of our preferred equipment vendors or we can use one of your own.

Contact Information

Direct Line - 443-569-6860

Twitter - @YourProcessing

Difference between Leasing and Bank Loans

Here are numerous differences between leasing and bank loans. A few of these are as follows:

Down Payment: With Leasing merchants have equipment that is 100% financed. With a Bank Loan, more often than not, merchants will have to come up with 20% to 30% of the total cost of their loan amount.

Interest Rates: With Leasing, merchants have a fixed rate and a fixed payment. With Bank Loans, merchants are often seeing an adjustable rate.

Term: Equipment Leasing through our Leasing Partners gives your company the option of Leasing for a term of 12 months to 60 months (1-5 yr). With Bank Loans, most are standard 2-3+ year loans.

Financial Reporting: Leases are not required to be reflected on balance sheet as debt. With a Bank Loan it will be carried on balance sheet as debt.

Tax Benefits: Leases are usually fully deductible over the term of the lease. Bank Loans are depreciated over the IRS’s life of the equipment.

Cash Flow: Leases help to free up cash allowing you to invest further in your business unlike a Bank Loan where your capitol is tied up in bank lines preventing expansion.

Sales Tax: With a Lease your sales tax is financed with monthly payment, however, with a Bank Loan it must be paid in advance.

Contact Information

Direct Line - 443-569-6860

Twitter - @YourProcessing

Why Lease???

Flexible terms: Leases are usually easier to obtain and have more flexible terms than loans for buying equipment. This can be a significant advantage if you have bad credit or need to negotiate a longer payment plan to lower your costs.

Leasing keeps your equipment up-to-date: Computers and other tech equipment eventually become obsolete. With a lease, you pass the financial burden of obsolescence to the equipment leasing company. For example, let’s say you have a two-year lease on a copy machine. After that lease expires, you’re free to lease whatever equipment is newer, faster and cheaper. (This is also a reason some people prefer to lease their cars.) In fact, 65 percent of respondents to a 2005 Equipment Leasing Association survey said the ability to have the latest equipment was leasing’s number-one perceived benefit.

You’ll have predictable monthly expenses: With a lease, you have a pre-determined monthly line item, which can help you budget more effectively. Thirty-five percent of respondents to the Equipment Leasing Association’s survey said this was leasing’s second-highest benefit.

You pay nothing up front: Many small businesses struggle with cash flow and must keep their coffers as full as possible. Because leases rarely require a down payment, you can acquire new equipment without tapping much-needed funds.

You’re able to more easily keep up with your competitors: Leasing can enable your small business to acquire sophisticated technology, such as a voice over internet protocol (VoIP) phone system, that might be otherwise unaffordable. The result: You’re better able to keep up with your larger competitors without draining your financial resources.

Contact Information

Direct Line - 443-569-6860

Twitter - @YourProcessing

Leasing VS Cash Purchases

In the equipment sales industry the question of purchasing equipment outright or leasing equipment comes up often. Depending on the leasing or purchase program that your company offers, either could be of great benefit to the customer. However, as a leasing company, we would like to share a few key points when looking to make this decision.

Lease: Leasing has only a slight impact on cash flow due to small monthly payments being made over time.

Cash: Buying equipment has an immediate impact on cash flow due to making one large payment up front.

Lease: Depending on the lease program, the burden of maintenance, interest, taxes and insurance is managed by the lessor.

Cash: The owner of equipment is responsible for all maintenance costs, taxes, insurance, and interest.

Lease: Leasing equipment requires the user to be responsible for the equipment for the term of the lease agreement.

Cash: The buyer is responsible for the entire life of the equipment.

Lease: Depending on the lease program, some lessors offer upgrades of equipment throughout the lease program. At the end of the lease the lessee is able to upgrade equipment easily.

Cash: Owners are responsible for the disposal or selling of outdated equipment. Depending on the choice, the upgrade process can be affected.

Lease: The lessee transfers all risk of obsolescence to the lessor since there is no obligation to own equipment at end of the lease.

Cash: The owner of the equipment bears all the risk of equipment devaluation. Obsolescence is the responsibility of the owner.

Lease: Leased equipment is expensed when the lease is an operating lease. Equipment in this case does not appear on the balance sheet. This can help your company’s financial ratios.

Cash: Financial accounting requires owners to have equipment appearing as assets with a corresponding liability on the balance sheet. In turn affecting the company’s financial ratios.

Lease: Depending on the lease program, some lessors offer equipment management services as part of the lease. This leaves the responsibility for tracking the equipment to the lease company.

Cash: For the life of the equipment, owners are responsible for tracking the equipment.

Contact Information

Direct Line - 443-569-6860