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Business Connection

 

October 2014

lancasterchamber.org

Lancaster Chamber of Commerce

 Executive Board

                    
Chairwoman of the Board
Tamara Stoebe, Stoebe Services
 
Chair-Elect
Josh Mann, Mojave Partners

Treasurer
Mark Troth, Berkshire Hathaway HomeServices, Troth REALTORS
 
Vice-Chair Secretary
Gina Rossall, Superintendent, Westside Union School District

Vice-Chair
Monica Grado, George's Cleaners

Vice-Chair
Stan Turner, Edwards Federal Credit Union
 
Past Chairman of the Board
Gene Melchers, Melchers Construction Co.
 
Ex-Officio
Sandy Smith - Chief Executive Officer, Lancaster Chamber of Commerce   
  
Board of Directors
                 
Chris Chapleau - American Business Machines

 

Sgt. Theresa Dawson - Lancaster Sheriff's Dept.

 

Rosemary Mann - Camille's Sidewalk Cafe

 

Nelson Rasse - High Desert Broadcasting

 

Bridget Razo - Antelope Valley College

 

Katie Nelson - Hunter Dodge

 

Lynn Roth - SOL Graphix, Inc.

 

Dave Saltman - Passantino-Andersen

 

Chris Spicher - Antelope Valley Florist

 

Bernie Longjohn - Choices in Learning National Foundation

 

Interested in Becoming an Ambassador?

   

Ambassadors have a unique opportunity to represent the Lancaster

Chamber at many events, including breakfasts, luncheons, mixers, ribbon cuttings/grand openings and more!  Through this involvement, ambassadors are able to represent the chamber while also representing and marketing their own businesses--it's truly a "win/win" relationship!

 

 

 If you or someone at your place of business is interested in

 participating in our comprehensive training series and ultimately

 becoming an ambassador, please contact the Chamber: (661) 948-4518


 

 

Business After Hours Mixers Will Now Be Hosted Quarterly

 

 

Beginning in 2014, the Lancaster Chamber of Commerce will transition from Monthly Mixers to Quarterly Mega-Mixers!  Based on feedback from many of our members, we have made the decision to plan large-scale business mixers  that will draw 100 or more members. With Mega-Mixers, your opportunity to network with others is greatly increased as these mixers are large-scale and are FREE to our members!  


 


 


If you are interested in hosting a mixer at your place of business, please contact Sandy at the Lancaster Chamber office for more information:

(661) 948-4518 

Please click on the link below to visit our events calendar

Lancaster Chamber Events Calendar 

 

 Law Offices of

 

THOMPSON VON TUNGELN

A Professional Corporation

 

*CERTIFIED SPECIALIST PROBATE, ESTATE PLANNING & TRUST LAW

 

Mark E. Thompson

Kevin L. Von Tungeln Leonard A. Cosgrove

 

 Visit our Learning Center

 

www.tvttrustlaw.com

(661) 945-5868


 

  The State Bar of California - Board of Legal Specialization

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ChamberSTORE

 

Helping Support Your Local Chamber is a

WIN-WIN!!

Take advantage of these special rates for chamber members!!

  

Newsletter Ads

Color or Black & White

  

Business Card - B&W: $50.00

 

Business Card - Color: $100.00


 

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Web Page Banner Ads


 

Please go to www.lancasterchamber.org

and look under Services/Internet Ads for description and pricing.


 

Chamber Membership Lists

 

Labels by Alpha: $50.00

Email Data: $50.00


 

2014 California Packets Are Here!!!


 

Employer Poster Set: $25.00

UI & SDI Pamphlets (10): $17.00

Sexual Harassment 

 Pamphlets (10): $17.00

Paid Family Leave

Pamphlets (10): $13.00

Workers' Compensation

Pamphlets (25): $14.00


 

*Employer Poster Set Available in Spanish & English - Laminated Upon Request w/Additional Fee


 

Please call the Chamber for more information:

 (661) 948-4518 


 


 

 

 

What can the Lancaster Chamber of Commerce do to help grow YOUR business???

 

Membership Benefits 

  • Chamber Website
  • Monthly Business Connection E-Newsletter
  • Membership Directory
  • Membership City Map
  • Radio Talk Show - Free
  • Super AV Expo
  • Quarterly Mega Mixers

 

Monthly Events 
  • Membership Luncheon
  • Members Lunch & Learn
  • Business-4-Breakfast

 

 

Discount Advertisement 

  • AV Press - Chamber Page
  • Video Commercials
  • Web Video - Business Showcase

 

Please call the Chamber for more information:

 (661) 948-4518 

 

 

Mission Statement 

 

To Serve the Community by Promoting, Protecting, Encouraging and Developing Local Business

 

 

New and Renewing Members

 

September

   

 Introducing Our Newest Members!

 

 

 

AV Janitorial

Andy Casillas

Lancaster, CA 93536 

Ph: (661) 273-8818


 

Aven's Fine Home Furnishings

Robert Turner  

44805 10th Street West

Lancaster, CA 93534  

Email: Robert@avensfurniture.com

www.avensfurniture.com/

 

 

HRBC Insurance

Janet Pierson 

Email: piersonjm252@gmail.com

Ph: (661) 212-9171

 

 

Code Blue Fitness, LLC

Herbert Walls

1127 West Ave L-8 

Lancaster, CA 93534

  www.codebluefitness.com  

Email: wallsmichelle13@gmail.com   

Ph: (661) 723-3423

 

 

Rocket Media

J.R. Long 

Lancaster, CA 93536

facebook.com/rocketmediaav 

Email: rocketsigns@gmail.com

Ph: (661) 341-1963

 

 

RZ Radio, LLC

Becky Smith

352 E. Ave K-4

Lancaster, CA 93535 

KTPI.com

Email: becky.smith@rzradioLLC.com

Ph: (661) 942-1121

 

 

Storage Solution Lancaster

Kimik Nicholas

42738 4th Street East

Palmdale, CA 93535

www.storagesolution.com

Email: Lancaster@storagesolution.com

Ph: (661) 942-3131

Fax: (661) 942-3131

 

 

TCC General Contracting Inc.

Rachel Conroy

45319 N Division

Lancaster, CA 93535 waterdamagerestorationlancaster.com

Email: info@tccdoitright.net

Ph: (661) 579-0449

Fax: (661) 579-0458

 

 

The Sprouting Seed Academy, Inc.

Nicole Piccoli

www.thesproutingseedacademy.com

Email: nicole.poccoli@yahoo.com

Ph: (661) 471-2234


 


 

 

We Are Pleased to present our Renewing Members

 

  

America's Job Center of CA

1420 West Ave I 

Lancaster, CA 93534

661 945-5037

Member Since: 1979  

 

 

AV Trophy & Uniform

44805 Beech Ave

Lancaster, CA 93534

661 948-5379

Member Since: 1985

 

 

AECOM

41235 11th Street West, Suite B

Palmdale, CA 93551

661 325-7253

Member Since: 1985

 

 

Dale's Hitchin' Station

42207 3rd Street East

Lancaster, CA 93535

661 949-3095

Member Since: 1986

 

 

Zonta Club of Antelope Valley Area

PO Box 1322

Lancaster, CA 93584

661 848-3231

Member Since: 1991

 

 

Mission Linen & Uniform Services

619 West Ave I

Lancaster, CA 93534

661 948-5051

Member Since: 1992

 

 

Aloha Pure Water

2330 Mall Loop Road, Suite 114

Lancaster, CA 93536

661 949-0053

Member Since: 1993

 

 

Rothman Business Interiors

121 Carriage Lane, Suite 107

Lancaster, CA 93534

661 618-6734

Member Since: 1993

 

 

Berkshire Hathaway HomeServices/Troth REALTORS

1801 West Avenue K

Lancaster, CA 93534

661 948-4646

Member Since: 1996

 

 

Commercial Services Unlimited, Inc.

220 West Nicobar

Lancaster, CA 93534

661 726-0071

Member Since: 1996

  

 

Frye Chiropractic, Inc.

42283 10th Street West

Lancaster, CA 93534

661 949-7773

Member Since: 1996

 

 

Comfort Inn & Suites

1825 west Ave J-12

Lancaster, CA 93534

661 723-2001

Member Since: 1999

 

 

Rancho Vista Golf course/Cascades Restaurant

3905 Club Rancho Drive

Palmdale, CA 93551

661 272-9830

Member Since: 2000

 

 

Submarina - California Subs

 

830 West Avenue L

Lancaster, CA 93534

661 949-8683

Member Since: 2008

 

 Valleywide Dental, Inc. 

1021 West Ave M-14

Palmdale, CA 93551

661 267-4018

Member Since: 2009

 


Desert Oasis RV Park & Storage 

4968 Rosamond Blvd

Rosamond, CA 93560

661 547-6161  

Member Since: 2012

 

 

American Post & Parcel

43759 15th Street West

Lancaster, CA 93534

661 371-1865

Member Since: 2013

 

 

AV Sports & Graphics

42402 10th Street West, Suite A

Lancaster, CA 93534

661 945-3144

Member Since: 2013

 

 

Starbucks Coffee House

855 West Ave K, #105

Lancaster, CA 93534

661 726-5040

Member Since: 2013

 

 

Power Center Car Wash 

And Express Oil Change 

44846 Valley Central Way

Lancaster, CA 93536

661 942-5777

Member Since: 2013

 

 

OUR NEW WEBSITE OFFERS INCREDIBLE MARKETING OPPORTUNITIES TO OUR MEMBERS!

 

 

For those of you who have utilized all the wonderful features of our new website, we are confident that you have seen interest in your business grow!  We are seeing triple the traffic on our site since we rolled out the new product in late October!  It's easy for our members to use and navigate and the free marketing tools that are included are state-of-the-art!  If you have not yet had the opportunity to request optimization of your member page, upload coupons, classified ads, and member-to-member discounts, or submit your events and meetings to our community calendar, please log in to your account and take full advantage of these exciting ways to market your business on both our website and our mobile app!  If you need us to re-send your log-in information, please contact us at

 

 (661) 948-4518

  

In This Issue
New and Renewing Members
Five Basic Tax Tips for New Businesses
City of Lancaster News and Events
Lunch & Learn
SCORE Tips for Small Businesses
The Month In Pictures
Lancaster Chamber of Commerce October Luncheon  


 


 

Please join us as we learn more about Destination Lancaster, a regional tourism marketing partnership focused on promoting local attractions, special events and unique happening throughout the Antelope Valley. Over the last year, Destination Lancaster has forged several new partnerships including Willow Springs International Raceway, Lancaster Jethawks, California State Parks, and the Air Force Flight Test Museum, to help promote these attractions to potential visitors outside of the Antelope Valley as well as where to stay, shop and dine once they are here.  Destination Lancaster has also been a strong supporter of special events like the Antelope Valley Fair, Gracefest AV, Thunder on the Lot, Lancaster Jazz Festival and the inaugural Los Angeles County Air Show.  

 

Ken Mann, President of the Destination Lancaster Board of Directors will be sharing information regarding the organization's marketing efforts, successful partnerships, and the launch of the new Visitor's Center located inside the Lancaster Chamber office.  He will also be discussing how your business could work with Destination Lancaster so you can gain additional exposure to out-of-town visitors.  We hope to see you there!



 

 

  

RSVPs are strongly suggested for this event.

 

Lancaster Chamber members:       $20 (pay online) or

                                                                   $25 at the door

 

Non-Members:                                 $25 (pay online) or

                                                                   $30 at the door

  
                         
                    EVENT INFORMATION

 

Date: October 8, 2014

 

Time: 11:30am - 1pm

 

Location: J.P. Eliopulos Hellenic Center 43404 30th Street West, Lancaster 93536 

 

Chairwoman's Message
  
  

 


 

FALL! FALL! FALL!

A time for the leaves to turn, the weather to grow a bit cooler, and a time for the costumes to be dusted off or made to celebrate Halloween. With Halloween on a Friday this year, I expect that the candy monsters will be out and about early, and potentially a bit later than a normal school night would allow.

On Saturday October 25th, the City of Lancaster and local businesses on The BLVD will be holding their BOOLVD Halloween and Harvest Festival. From 5 pm to 9 pm Dress in costume, bring the family and join the community this Halloween with trick or treating on The BLVD, semi-spooky movies, carnival games and more.

On Sunday October 5th is the semi-Annual Flea Market hosted by the Lancaster Chamber of Commerce. There is still room for you to get your booth space, just call the chamber at (661) 948-4518. This year for the first time, we'll be doing a Craft Fair as part of the event - so if you're ready to start thinking about the holidays, come out and do some shopping at this very fun event, and kickoff opportunity. Early bird gate opens at 7 am, regular gate at 9 am and we close at 4 pm.   A great place to do some bargain shopping and see your friends and neighbors shopping to their hearts content.

We have a great group of board members this year, and they've all been busy putting together new ideas and programs to make the chamber a better place.

Are you interested in being part of a committee, or just seeing what a committee does? Please feel free to reach out to the chamber office and attend one of these upcoming chamber committee meetings:

*Marketing

*Parades (holidays are coming)

*Ambassadors

*Membership

*Technology

*Legislative

 

Have some input for your chamber leadership, please reach out to us, I can be reached at chamber@tamarastoebe.com or (661) 466-6849

NETWORKING TIP for October:

When attending an event, make sure you have 7-10 business cards in your pocket and a pen and sharpie. When exchanging cards with a potential networking partner, write notes on their card about what you promised you'd do, or they could do, as well as notes about other things you noted. The sharpie is if they have a card that can't be written on by a traditional pen.

I'm looking forward to a great Autumn season, and looking forward to hearing from you the members.


 

Chairwoman of the Board
Tamara Stoebe  
2014-2015

 

 Five Basic Tax Tips for New Businesses


 

 

 

Courtesy of Cobb Doerfler & Associates, CPA    Accountants and      Tax Preparers    

 

 

  

 

Five Basic Tax Tips for New Businesses


If you start a business, one key to success is to know about your federal tax obligations. Not only will you probably need to know about income taxes, you may also need to know about payroll taxes as well. Here are five basic tax tips that can help get your business off to a good start.

 

1. Business Structure. As you start out, you'll need to choose the structure of your business. Some common types include sole proprietorship, partnership and corporation. You may also choose to be an S corporation or Limited Liability Company. You'll report your business activity using the IRS forms which are right for your business type.

 

2. Business Taxes. There are four general types of business taxes. They are income tax, self-employment tax, employment tax and excise tax. The type of taxes your business pays usually depends on which type of business you choose to set up. You may need to pay your taxes by making estimated tax payments.

 

3. Employer Identification Number. You may need to get an EIN for federal tax purposes. Give us a call to find out if you need this number. If you do need one, we are available to guide you through the process of applying for it online.

 

4. Accounting Method. An accounting method is a set of rules that determine when to report income and expenses. Your business must use a consistent method. The two that are most common are the cash method and the accrual method. Under the cash method, you normally report income in the year that you receive it and deduct expenses in the year that you pay them. Under the accrual method, you generally report income in the year that you earn it and deduct expenses in the year that you incur them. This is true even if you receive the income or pay the expenses in a future year.

 

5. Employee Health Care. The Small Business Health Care Tax Credit helps small businesses and tax-exempt organizations pay for health care coverage they offer their employees. A small employer is eligible for the credit if it has fewer than 25 employees who work full-time, or a combination of full-time and part-time. Beginning in 2014, the maximum credit is 50 percent of premiums paid for small business employers and 35 percent of premiums paid for small tax-exempt employers, such as charities.

 

For 2015 and after, employers employing at least a certain number of employees (generally 50 full-time employees or a combination of full-time and part-time employees that is equivalent to 50 full-time employees) will be subject to the Employer Shared Responsibility provision.

Have a business idea? Call us first. We'll make sure you have everything in place to make your new business a successful one.

 

 

Need assistance? We can help you analyze and manage your cash flow more effectively and make sure your business has adequate funds to cover day-to-day expenses.

 

  
(661)948-2661

 


 

 

Business-4-Breakfast
  
  

      Join us for business, stay for breakfast!

             

               7:00 a.m. Thursday, October 23, 2014

                                      

Event Location

 

Schooners Patio Grille

2797 W. Ave L, Lancaster 93536 (30th St. West)
           
Table Sponsor

  

Home Instead Senior Care, Joel Green

 : (661) 254-8701

 

 

Cash Prize $50.00 - 1 Winner will be chosen at every breakfast

 

 Sponsored by:

Care Pest Solutions, Dale & Mary Majors

(661) 951-1843

 

 

*Please note - If you RSVP and do not attend you will be invoiced for $12.00

  

  
  

 

City of Lancaster's

 "100 Days of Fun" 

has Something for Everyone
 

Lancaster, CA. September 17, 2014 - The City of Lancaster's 100 Days of Fun season kicked-off with the annual Celebrate America on The BLVD event just over a week ago. Now in full gear, the City has lined up an amazing schedule of engagements to usher out 2014 with fun and excitement for the entire family.

"The City of Lancaster prioritizes the need to create fun and exciting community-gathering opportunities throughout the year because we realize the positive impact this has on our citizens," said Lancaster Mayor R. Rex Parris. "These activities provide a safe, healthy environment for residents and visitors to enjoy family and friends in our wonderful city. Building morale, while enhancing the joy and quality of life in our community is key to local synergy and a successful community."

The Lancaster Museum of Art and History (MOAH) is currently observing National Hispanic Heritage month with six new exhibits which showcase thought-provoking artwork that celebrates Hispanic and indigenous culture through the lens of multiple artists and mediums. Visitors can learn about the artists' examination of identity, color and culture through film, photography, poetry, textiles, drawings and sculptures. MOAH is located at 665 West Lancaster Blvd. (corner of Ehrlich Avenue and The BLVD). For more information, visit www.lancastermoah.org or call 661-723-6250.

As the season transitions into October, the City encourages the community to come out and support the end of the 2014 Sierra Toyota ● Scion All American Summer Concert Series, as well as the Downtown Drivin' experience. The concert series, which is held in conjunction with the BLVD Farmers Market from June - October, serves up free live entertainment every Thursday at 6 p.m. at the BeX Bandstand Stage on The BLVD. Remaining acts include: the Grammy winning Mariachi Divas (Latin/ Salsa) on September 18; Renee Rojanaro (Jazz/ Swing) on October 2; Tony Molina and Friends (Salsa) on October 9; and Live Radio playing selections from the 70s to today on October 16.

 Downtown Drivin' has two dates remaining, September 17 and October 15. If you're a cruiser, join in the ride from 6 - 9 p.m. Be sure to pre-register at Lancaster City Hall (44933 Fern Avenue, north of Lancaster BLVD) at the Parks, Recreation and Arts counter or register the day of in front of City Hall from 5 - 7 p.m. In addition to the cruise, visitors can enjoy live entertainment at the BeX Bandstand Stage, as well as a beer garden on the BeX patio. The participant entry fee has been pro-rated to $10 for the last two months of the season. For more information, call 661-723-6077.

Always a crowd pleaser, the City of Lancaster's annual Bark at the Park returns Saturday, October 4 from 10 a.m. to 5 p.m. and Sunday, October 5 from 10 a.m. to 3 p.m. Admission is free, and the experience for well-behaved canines and their human companions is priceless. For details regarding what's in store this year, visit www.lancasterbarkatthepark.org.

LPAC's October lineup includes the musical satire, Spank! The Fifty Shades Parody, which aims to have patrons rolling in the aisles on October 9 at 8 p.m. Next, the Tony Award-winning musical comedy CST: The Annual Putnam County Spelling Bee by Rachel Sheinkin will tell the hilarious tale of six overachieving adolescents vying to win a spelling championship. This production will offer multiple shows from October 10 - 19.

On October 11 at 8 p.m., Jeanne Robertson will deliver her funny "real-life" stories, reminding us that humor is a method for coping with life's curveballs. The following week, LPAC will lend its main stage to Local Living for the presentation of Laughs in Lancaster on October 18. This live comedy show will feature show-stopping comedians and great entertainment for adults 18+ only.

LPAC in October wraps up with Cirque Zuma Zuma tumbling onto the main stage on the 19th to demonstrate a myriad of art forms and athleticism blended together to create one of the most energetic and dramatic experiences you will ever witness. Detailed information for all of these performances, as well as ticket purchasing, is available at www.lpac.org and via the LPAC Box Office, 661-723-5950.

The end of October is that time of year when the City of Lancaster likes to offer up more silly thrills than scary chills. Don't miss out on the not-too-creepy fun at the BooLVD Halloween & Harvest Festival on Saturday, October 25 from 5 - 9 p.m. Little tricksters will have extra haunting fun with jolly jack o' lanterns and get Halloween surprises 'n' treats starting at
5 p.m. (while supplies last) from local BLVD businesses. Join the City of Lancaster for some whimsy and ghoulish humor in a safe, family atmosphere.
 

If you brew it, they will come... again. That's right, the City of Lancaster's Field of Drafts craft beer festival returns to Lancaster Municipal Stadium on Saturday, November 1 from 1 - 5 p.m. Great craft beers from some of the finest brewers in the United States will be served. Visit www.cityoflancasterca.org/beer for additional details and to purchase tickets.

The very next day, Sunday, November 2, LPAC will feature Lonestar at 7 p.m. Merging their country roots with strong melodies and rich vocals, Lonestar has topped the charts for twenty years. To learn more about this band, visit www.lonestarnow.com. Also in November's lineup is Mummenschanz: The Musicians of Silence, an internationally acclaimed masked theater troupe performing on November 16 at 3 p.m. Ending November with smooth vibrations is Irvin Mayfield and his New Orleans Jazz Orchestra, who will rock the stage with their swinging 18-piece ensemble on November 21 at 8 p.m.


 
December's highlights start off with a weekend of Charles Dickens' A Christmas Carol,
co-presented with Cedar Street Theatre on LPAC's main stage, December 5 - 7. Visit www.cedarstreettheatre.com for audition information. For show times and tickets, visit www.lpac.org or the LPAC Box Office, 750 W. Lancaster Blvd, 661-723-5950.

 

The magic of the holidays will surely come to life on Saturday, December 13 from 5 - 9 p.m., at A Magical BLVD Christmas, where downtown Lancaster is turned into a winter wonderland filled with the sights, sounds and sensations of all things warm and cheerful this season. Bring the entire family and spend the evening with carolers, dancers and outstanding Christmas entertainment on two stages. From the Christkindlmarkt, to train rides, to Santa's Workshop and more, A Magical BLVD Christmas offers something delightful for all ages to enjoy.

If you already plan to be on The BLVD for A Magical BLVD Christmas, come early and stop by the LPAC to see The Nutcracker, presented by the Antelope Valley Ballet, which brings alive the beauty and wonder of Tchaikovsky's classic ballet. Shows on December 13 are at 2 p.m. and 7 p.m. If you can't make it on Saturday, a third performance is scheduled for Sunday, December 14 at 2 p.m.

The City of Lancaster's final community event for 2014 will charm the senses with the sweet smells of syrup laden pancakes and the festive tones of joyful holiday music at the annual Breakfast with Santa celebration. Gather the little ones and come on out to Lancaster City Park's Stanley Kleiner Activity Center (43011 10th Street West) on Saturday, December 20 to join Santa, Mrs. Claus and all the elves for a warm pancake breakfast, fun arts, children's crafts and photographs with Santa. Tickets can be purchased at the City of Lancaster Parks, Recreation & Arts Department (44933 Fern Avenue) from November 10 through December 19, or until sold out. For more information, contact the Parks, Recreation & Arts Department at 661-723-6077.

"The Lancaster City Council is very excited about this year's event season," added Mayor Parris. "Each year, City staff works incredibly hard to ensure our community has the most fun, greatest adventure and best entertainment possible. They strive to put together bigger and better events and showcases all year-round. 100 Days of Fun is no exception, and is sure to bring big smiles, great energy and good times to our community."

 

     
         Promote YOUR business FREE of Charge
 
  
    
  FREE Chamber Radio 
Talk Show
  
 "Minding Your Business"
                       
    Saturday, 12-1pm
 Call Anna Zarley: (661) 948-4518
  

Lunch & Learn

with the Lancaster Chamber of Commerce


 

 

 

We invite our members to join us for our monthly Lunch and Learn sessions!  Held on the last Friday of each month at noon in the Lancaster Chamber boardroom, these informative sessions are FREE for members. 

 

Each month, we offer one-hour courses that are designed to give you, the business owner or manager, additional tools designed to improve the way you do business.  The sessions are facilitated by chamber members who are experts in their given fields and who are willing to share their "secrets of success" with you!

 

Stay tuned for September's Lunch and Learn announcement coming your way very soon.  Don't forget to bring your lunch!

 

 

Expert Advice From SCORE: Alternative Financing In Today's Market

 


 

In October 2008, Fred Dunayer became the principal of Interface Financial Group (IFG), a company which provides accounts receivable financing to small and medium-sized businesses. Through IFG, Fred has developed contacts throughout the alternative financing industry and provides cash flow consulting services. 


 

Let's hear what Fred has to say about Alternative Financing in today's market.


 

Fred Dunayer: It's an interesting question just to answer that because alternative to what? I mean traditional financing is where you have bank loans, traditional bank loans, loans against real estate that sort of thing but a lot of people don't realize that other assets that they have are also usable for financing. The textbook definitions of alternative financing, well, actually I'll start with asset-based lending is a term you might hear, is where the lender provides funds secured by the borrower's assets. Collateral could include accounts receivable, inventory, machinery, patents, trademarks or other assets where value can be determined.

Alternative financing which is a little bit different from lending is where the finance company actually purchases the collateral while continuing to provide the use of these assets to the clients.


 

Dennis Zink:  Okay, great. Why would a company seek alternative financing?


 

Fred Dunayer: Well, there's all kinds of reasons that companies needs funds, the obvious is for working capital, could be to buy equipment, funding for an acquisition, merger or a leveraged buy out, perhaps debt consolidation, turnaround financing, hopefully not bankruptcy, re-organization financing, buying inventory. There could be financing needed for import-export trade or just plain growth.


 

Dennis Zink: What kinds of alternative financing is actually available?


 

Fred Dunayer: There's a number of different resources. The ones I want to talk about today are basically four categories. There's equipment leasing, purchase order financing, inventory financing and factoring.


 

Dennis Zink: What's involved in equipment leasing?


 

Fred Dunayer:  Basically, equipment leasing is like automobile leasing. It's very similar in concept. There are a few differences. In general, equipment leasing is where the lessor, that is the person doing the financing, purchases the equipment needed by the client for the duration of the term or even beyond. The equipment remains the property of the lessor until the borrowed funds plus interest have been repaid. Businesses will typically need to have established credit and have been in business a couple of years before a company will actually do that.


 

Some firms will purchase equipment that is already in place and the terms are typically up to six years. You would want to consider leasing when the client requires a lot of expensive equipment but wishes to avoid tying up large sums of money on the down payments required by purchasing. They might also consider it when they need to have their equipment changed frequently and want to avoid having capital tied up in obsolete equipment and they have the cash flow which can readily cover the monthly payments but don't have the money to lay out for the purchase of equipment.


 

Steve Lovinger:  What types of companies provides lease financing and how would I find one?


 

Fred Dunayer: There's a couple of different ways to find the companies. One is you can go to the internet and just look up equipment leasing. There's actually a equipment leasing association that has a directory and you could look for equipment leasing companies. Obviously, if you can find a company that's in your area, it can be beneficial because then you can sit down face to face and chat with them. Your bank also might do equipment leasing. After all, banks look for hard assets and the equipment is a hard asset. A third option is the manufacturer themselves. A lot of the times that if they're selling expensive equipment, they see leasing the equipment as another source of income to themselves.


 

 

The Month In Pictures

September

 

 Sweet Frog Frozen Yogurt  

 Grand Opening & Ribbon Cutting

 

 Enterprise Elementary School

  Grand Opening Dedication   

 

 Antelope Valley Hospital

Institute for Heart & Vascular Care 

 Grand Opening & Ribbon Cutting   

 

 Antelope Valley Hospital

Institute for Heart & Vascular Care

 Grand Opening & Ribbon Cutting

 My Lounge

 Grand Opening & Ribbon Cutting  

  
 Destination Lancaster 
Visitor Center

 Grand Opening & Ribbon Cutting  

  

 

 Destination Lancaster

Visitor Center   

  Grand Opening & Ribbon Cutting 

 

Lancaster Chamber Luncheon 

 Young Entrepreneurs Academy Presentation   

 

Lancaster Chamber of Commerce 

Business-4-Breakfast

Table Sponsor: Edwards Federal Credit Union, Laura Motes

 

Business-4-Breakfast

Best Commercial Winner 

 David Wallin, The Law Offices of David M. Wallin   

 

Business-4-Breakfast 

 $50.00 Sponsor,

ADT Security Systems, Eli Colvin

Winner Debbie Graves, 

Storage Express