Several millions of individuals rely on public transport all over the world. People use this public transportation to go from one place to another, be it within a city or state. Our families, friends, co-workers, and other acquaintances safety are dependent on the person who operates the public vehicles. They must be therefore ensured of not being drug addicts or from any criminal background. This is why drug testing is critical in the public transport industry. A DOT drug test is one such test that is government regulated to ensure the safety of the citizens. Contant NTA,Inc for DOT Drug Testing.
What is the DOT drug testing?
DOT or Department of Transportation has regulated a drug test to ensure this industry to be alcohol and drug-free, referred to as the DOT drug test.
US congress regulated an omnibus transportation employee testing act in 1991. This act directed the department of transportation and its agencies to implement alcohol and drug testing for their employees. This was in view to sustain the travel safety of the workers and the public.
The procedures and rules of drug screening are listed under CFR-Code of federal regulations Title 49 or Part 40. US coast guard and DOT has specific regulations that are valid to the industry. It clearly states the person who has to be tested, under what circumstances, and when.
Difference between a DOT drug test and a regular drug test
The two primary differences are:
DOT tests use urine samples, while a regular drug test can be carried out using hair, urine, or saliva.
Anyone who is “safety-sensitive” and is an employee of the department of transportation should get tested for alcohol and drugs, according to DOT regulations.
Who is a safety-sensitive employee?
Any employee who has a job with DOT and can harm the safety of himself and the public is a safety-sensitive employee.
Which departments of DOT can come under these positions?
Federal aviation administration- Employees include flight attendants, ground security, flight crews, dispatchers in aircraft, and so on.
US coast guard- All crew members who run a commercial vessel.
Federal motor carrier safety administration– Employees include CDL-commercial driver’s license holders operating CMVs-commercial motor vehicles, automobiles transporting inflammable materials, and carrying over 16 passengers. They need a DOT placard.
Pipeline and hazardous materials safety administration– Workers involved in maintenance, operations, and emergency services.
Federal transit administration-Mechanics, vehicle drivers, armed security, and controllers.
Federal railroad administration-Workers are operating train and engine, signal service, train dispatchers, and others.
Why only industry-specific employees for the DOT drug test?
When taking public transportation to visit someone or for work or flying from one coast to another for any business meeting, you keep your life’s safety in the hands of the operator of the transport and other people of the department. This test assures travelers that they are safe traveling with them, and they take it as their responsibility.
What is DOT drug testing, and what do they test for?
DOT test requests your employer to carry out a drug screening while you have to undergo physical DOT. A DOT drug test makes use 5-panel test. These drug test screens for drugs such as methamphetamines, cocaine, phencyclidine, opiates, and marijuana. Amphetamines that include MDMA and methamphetamine, Opioids include morphine, codeine, hydrocodone, heroin, hydromorphone, oxymorphone, and oxycodone. DOT drug tests are regulated to be carried out by using urine samples.
What is DOT drug testing- How is drug test administered through urine?
There are three steps involved in a DOT drug test. These steps are:
The medical officer did review
DOT drug testing includes the following steps.
A specimen collector will check for a photo ID that is valid and current. It can be the employer issued ID, driver’s license, or passport. This is to verify your details.
Secure the collection area by access restriction, water sources accessibility, and securing cleaning fluids.
Privacy to specimen unless any rule exception to adulteration.
Check for unnecessary items or garments by emptying your pocket.
A sealed collection kit is handed over after opening it in your presence.
After collection, pour it into two different bottles and seal them in front of you.
Details of name, DOB, time are provided by you.
Finish the documentation.
Give you a CCF copy and ship the sealed bottles to CCF.
Send it to the lab for tests
Once the medical officer receives the report, paperwork is accurately checked.
For a negative result, report to a DER-designated employer representative.
For a positive result, an interview is set up with you for any legitimate reason medically and, if not, send the report to DER.
What is DOT drug testing- When should the employees take this test?
A DOT drug test is carried on safety-sensitive employees. It is taken:
Before beginning your job or pre-employment.
When there’s a cause or suspicion that you may be under drugs influence.
When any of the trained supervisors suspects or believes the influence.
Any observations of concerning behavior, smell, speech, or appearance.
Random tests on each of the employees through random selection. Usually finished quarterly.
When returning to duty after any drug violation or any rules related to alcohol consumption, testing is done.
On return to duty, the employee may be subjected to testing without prior information for about 6 times in the initial year. The testing is carried out under observation.
SAP-Substance Abuse Professional handles your follow up a return to duty testing. This is done for 5 years. Depending on the substance and times of testing, this testing is done. This is taken along with other testing needed by DOT.
When an employee gets into an accident or is involved in any such criteria, post-accident DOT testing is done. A drug test is carried out within 32 hours and an alcohol test below 8 hours of the occurred accident.
Failing DOT drug test
When you fail the regulated DOT drug test, the employer who hired you must eliminate you from any DOT safety-sensitive work. You are not eligible to perform any such job activities. You may lose your license/certification, too, based on your employment agreement or business policy.
DOT drug testing is carried to safety-sensitive employees to ensure the safety of the lives of the travelers of public transportation, flights, and other means. It is regulated and tested by the collection of urine samples. DOT drug testing ensures the safety of the drivers and the passengers who entrust them their lives.
Advanced packaging product involves a standard grouping of various distinctive techniques such as 2.5D, fan-out wafer-level package, system-in-package, and 3D-IC.
Conventional industries depended upon the innovative architectures and conventional chips scaling for a new device. In the case of chip scaling, the notion was to pack additional transistors on a system-on-a-chip or a Monolithic die at every process node. This enabled a faster chip at a lower cost for each transistor. However, the traditional chip scaling was becoming more expensive and difficult at every node.
The driving force for Advanced Packaging Solutions & Products Inc. is positively correlated with the popular Moore’s Law. The wires and transistors shrink, and the length of distance that signals require to travel or to transmit from one part of a chip to another over thin wires increases at every node. These chips are connected together by using thicker pipes that are available in the form of interposers, through-silicon vias, simple wires, or bridges. The signal’s speed can be raised and the energy amount needed to drive the signals can be diminished. Moreover, based on the type of package, there can be lesser physical effects and the components that are produced at different nodes can be combined.
Advanced packaging approaches are being used for wide-ranging products. However, the initial concern about time and cost continues to slow down the process of adoption. EDA firms have developed new tools that automate the process of advanced packaging and OSATs are continually refining these processes, making it less expensive and more predictable.
There are various methods by which a chip design can be implemented using heterogeneous integration. The issue with advanced packaging products is the cost factor since the technology still remains really expensive for various niche applications. The companies mentioned below have introduced new packaging technologies which are most likely to address this problem of high cost and also other challenges in this field –
ASE has described high-density fan-out technology which supports HBM or high bandwidth memory.
Leti and STMicroelectronics jointly have described the 3D packaging technology by using chiplets. The idea of using chiplets involved a list of modular chips in the library. These chiplets can be integrated into a package by using a die-to-die interconnection scheme.
TSMC has described details about the next generation 3D Technology and fan-out Technology.
Flip-chip and Wirebond
There was a time when IC packaging was not popular in the industry of semiconductor. The packaging was simple and the cost of packaging was the lowest. However, the advancements enabled chips to have the smaller form factor and this paved their way to an advanced form of heterogeneous integration. If one wants high-performance, he will require different packages that have more I/Os. Worth mentioning there is no single full package that meets all the requirements of both markets.
There is another way by which one can segment the market of packaging and that is by the interconnect type. This includes flip-chip, wire-bond, wafer-level packaging, and TVS or through-silicon vias.
Wire bonder stitches 1 chip to another or substrate by using small wires. The wire bonding process is used in low-cost legacy packaging, memory dies stacking, and mid-range packages.
For processors, however, the wirebond does not offer enough I/Os. Hence, a flip-chip is more superior than a wire bond when it comes to increasing that number. Fan-out on the other hand is in between the two in terms of the I/Os whereas, the 2.5D and 3D are at a far superior end.
Fan-out, Chiplets, 2.5D/3D
Just after the flip-chip, the next that came in the I/O hierarchy was the fan-out. It has recently gained a lot of attention after Apple started using info fan-out packages of TSMC for their iPhones. The package integrates the application processor of Apple and the third-party memory of the same unit. This enables more I/Os compared to other types of packages.
Fan-out does not need an interposer which is why it is much cheaper compared to the 2.5D and 3D technologies. The packaging of the dies is done on a wafer and hence it is known as a wafer-level package. It is split into 2 segments namely, low and high density. The low-density fan-out is used mainly for power management and the high-density fan-out is used for smartphones and servers.
One of the major culprits is the DRAM, the data rates of which seem to have been lacking, especially in the requirements of memory bandwidth. The solution to this problem is HBM or high-bandwidth memory which loads DRAM dies one above the other and connects it with the TSVs. This enables more bandwidth and I/Os.
Generally, the HBM is added in the 2.5D package where the dies are placed of stacked side-by-side on an interposer. The interposer behaves like a bridge between the board and the chips.
Typically, the 2.5D or 3D is very costly the HBM relegated for most of the high-end applications. Moreover, the fan-out packaging with HBM has more advantages over the 2.5D and 3D such as the electrical performance in fan-out which is far superior to the latter.
When it comes to chiplets, there are some challenges too, faced by the industry. The packaging is implemented most commonly in the high-end applications and that has generally brought down the costs.
Integrating the chiplets into the package is not an easy task. The lithography challenges increase as more individual chiplets are used in completing one single package. This leads to interconnect overlays and involves the process of TSV for chip interconnect and the productivity or system throughput which provides the required technical solution at a cheaper cost.
For a heterogeneous integration, the requirements of quality for the devices being integrated are rising rapidly. The requirements are demanding for a more accurate die screening, the value of and the number of ICs put together into a system-in-package is also increasing. For die-level and wafer-level, the subtle or small defects that were previously acceptable have now become unacceptable with the incorporation of the dies in complicated, multi-device packages. The whole heterogenous package can be ruined with just 1 die in the system-in-package.
Choosing a career is a very exciting but difficult task. There are many different areas from which a person can choose how they want to spend most of their life. It is important to choose a career that allows you to maximize your unique talents and skills. Sometimes professional researchers should step back to see what the future holds. For many of these people, a career in biotechnology seems to be the answer. Here we will look at biotech recruiters at Biotech Partners and the opportunities available in biotechnology so that you can better understand what exactly this career is about and what opportunities arise from choosing this career.
If you are aiming for a career in biotechnology, you may choose to enter the branch of science, which is responsible for taking basic living things like cells and generating new objects that benefit the quality of human life. Taking a job in biotechnology means participating in the development of new products and processes for the benefit of humanity and the quality of life. Before seriously considering a career in biotechnology, you must have a thorough knowledge of chemistry, biology, and other life science areas.
Biotechnology also has far-reaching effects in other different areas, including human health care where inherited diseases, cancer, heart disease, and AIDS are recognized and treated. In veterinary medicine, animal science and animal production, and in agriculture and physiology. A biotechnology company has several departments, each carrying out different tasks and functions. The biotech recruiters focus on finding individuals who have relevant skills and qualifications in filling these positions.
Careers in research and development:
Like any other business, a biotechnology company needs a qualified research team to represent its future. While some research may focus on an application, some may be done to acquire new knowledge that may not need to be applied immediately. Researchers can also work in academic settings such as universities or company facilities. Most importantly, research and product developments are the foundation and foundation of any biotechnology configuration.
Careers in production and quality control:
Biotechnology companies need employees with in-depth knowledge of technical or industrial manufacturing technologies in production and manufacturing. To ensure that finished products meet specifications, a quality assurance group or quality assurance team takes care of the production, research, and development process. This group of experts belongs to the Quality Control department.
Biotechnology companies need managers who can monitor the operation of the business, for example, in production, Research and development, and quality control. These people often hold doctorate-level scientists who have found their way through successes or special successes. Sometimes they also have business training and experience.
Careers in marketing and marketing:
A biotech company requires these professionals to help in the marketing research and conducting analysis of the marketing research data. They also help in assessing and estimating the needs for a certain product, and it would be sold. They advertise, promote, and try to find new markets for products that have already been sold. Sellers negotiate directly with consumers by selling, receiving feedback, etc., and are the most visible representatives of the biotechnology company.
Career Regulatory Affairs
A professional with expertise in this field is required by the biotech recruiter because all biotechnology companies, especially agricultural and pharmaceutical companies, are regulated by federal and state authorities such as the FDA, USDA, and EPA regarding safety, ethics, etc. For manufacturing and products, they need a team of experts and specialists to ensure that the company complies with all the regulations set by these agencies.
An invention or discovery is not immune to copyright infringement without the corresponding patent. As biotechnology companies and businesses are constantly on the lookout for new and better products, they need people with legal expertise to prepare the patent application or to monitor patent laws.
A career in public relations, communication, and training:
Biotechnology recruiters know that their companies must be able to communicate information to the public or other authorities in a language they understand because biotechnology mainly uses technical terms. They must also be able to convince others of the credibility and usefulness of their products. As the company grows, its field of recruitment increases. This would mean the need for more training and development of staff, and therefore more trainers.
Pest control can be termed as eradication of animal or insect infestation in a certain residence. Regardless of your country of origin, there are dominant types of pests that will invade your home. Pest infestations have a number of negative effects such as contamination, damage of property, and the creation of an unfavorable atmosphere. In addition, pests cause sickness. Therefore, no one likes pests around the home. However, pest eradication isn’t an easy task, as many individuals may think. Some pests may need professional pest control companies because they come in great numbers, or they are too strong. You should choose a reputable pest control company because they have the right chemicals and equipment to control stubborn pests. Hiring the right pest control company will not only save your fruitful time but also your money in the long-run. Below are different types of pests and animals that need a professional pest control company.
Types of Pests
Types of Animals
Choosing an experienced pest control company is beneficial because they will investigate to identify the root cause of the pests. This will help them eradicate the pest in a strategical way. Trained and qualified pest control experts offer quality and reliable services. The key reason behind this is that they understand where to treat, know how to handle an infestation, they have been in the field for quite some time, and they have a good reputation. A pest control service is an excellent idea if you’re opting to protect your home against pests.
Key Reasons For Hiring Pest Control Services
It’s a great idea to hire pest control experts because they have a good understanding of this field. Doing it yourself may cost you a lot because you may cause more harm than cure. For instance, you may mishandle some harmful chemicals which may negatively affect your respiratory system or cause food poisoning. Pest control technicians have enough experience in using various chemical products to control the pest. Recently, pest control firms are going green to minimize environmental pollution.
2. Time and Flexibility
Doing it yourself waste much of your valuable time because you lack the required skills. Pest control company Virginia Beach provides quality work in the given time. The right pest control company will employ the proper chemical product at the required time. This is the key to success in this field.
3. Customized Plans
The provision of the best protection techniques plays a crucial role when protecting your home from invaders. Expert service providers will set their objectives and plans that will satisfy your tastes and preferences. Due to their expertise, they will consider some key factors, such as the level of infestation, type of pest, long-term prevention, and size of your home.
It’s not a good idea to perform the task on your own because you may use the wrong pest elimination method. It’s, therefore, fundamental to hire expert service providers because they clearly know how to deal with various types of pests. In addition, professionals will ensure that your family is safe from harmful chemicals that can cause illnesses. The right pest control company will save much of your time, which can be used in a productive way in your area of specialization.
5. Cost Minimization
For instance, if pests destroy your property, you’ll have to spend a considerable amount of money on repairs and maintenance practices. A reputable pest control company will perform a thorough pest inspection to identify the right chemicals and tools to use. Hiring an experienced service provider will save your money in the long-run.
Tips For Choosing the Best Pest Control Service
1. Treatment Method
The best service provider will perform an in-depth inspection to identify the source of pest infestation, the type of pest, and the extend of the problem. An expert pest control company will, therefore, plan on the best approach to use so as to give the best outcome.
2. Excellent Reputation
The best pest control company will have a good track record. Pest control companies in Virginia Beach have dealt with various pest infestations. They have good reviews and ratings from their clients due to high quality work. If you’re selecting the best, ask your friends and colleagues if they know any experienced company. Short-list these companies by asking their customer service questions regarding the company.
A licensed pest control company is recognized by pest control authorities or the local health department. Research shows that a licensed company has a high probability of providing quality services compared to unlicensed companies. Uncertified pest control companies are operating against the law. Therefore, their reputation is ruined. A licensed company will not only adhere to pest control rules but also the latest innovations and development in the industry.
An experienced pest control company will have more knowledge about this field. The key reason behind this is that they have dealt with various pests in the past. An experienced pest control firm will answer all your questions. A reliable company will not only be friendly to you but also provide you with more information. The best company will give you tips and guidelines to prevent further infestations in your home.
5. The Right Equipment
Recently, due to advanced technology, a reliable pest control company should have the latest equipment. You should consider not only their equipment but also their chemicals. Consider choosing a company that prefers organic chemicals to inorganic chemicals. The key reason behind this is that you’ll be conserving the environment. Also, you’ll be protecting your family members from health problems associated with pesticides.
Hiring pest control company Virginia Beach is important because they have the right skills and experience in this field. Expert service providers from Virginia Beach have the ability to assess the seriousness of the infestation and determine the right method to use. Hiring professionals will give you peace of mind because you’ll be guaranteed of quality services.
The present diverse workforce has become even more important for helping the organization to achieve its goals and objectives and for this the employees need to work comfortably with each other. But there are a huge difference with respect to the traditions, lifestyles, beliefs and backgrounds of the people working in the organization including the managers, employees and co-workers. This is the reason why employee sensitivity training has become increasingly important because it enables the employees to enjoy greater understanding of the differences that exists between one another. Moreover, this training has become even more important with the rise in the workplace issues regarding sensitivity, diversity and harassment. These live, engaging and interactive training sessions are considered as the best way of educating the employees about the corporate culture, influence behaviors and ensure that they will work together without any issues.
Employee sensitivity training is also considered as the most popular organizational development technique that helps in increasing the well being of the employees. It also helps in increasing the self awareness of the people working in the organization when it comes to dealing with the sensitivity and prejudices to other workers. This training is especially designed for fostering a culture of integrity, respect and accountability towards the people working together in a company. This is the best way of improving the workplace culture so that any instances of cultural differences will be eliminated greatly. Moreover, it also helps the employees to become aware of their behavior towards other employees who are different in the age, gender, race, color, sexual orientation and ethnicity and thoughts. The modern workplace is becoming more tolerant than before and this is because of the sensitivity training where they are taught to become more sensitive towards the other people. This training also allows the employees to get a better understanding about their role in the organization and those people who are working along with them. If the employer wants to build a safe as well as an inclusive environment for all the employees to work together as a team then the importance of sensitivity training cannot be underestimated. With the better understating among the employees, there will be an increase in profit and productivity of the workers. This will eventually help in increasing the retention rate and reducing high turnover so that no employees will leave the company due to discrimination and conflicts. After the training is completed, each employee will feel respected and welcomed so that they will work together with other for solving the problems affecting the organization.
Employee sensitivity training is very beneficial for the success of every organization that it helps the employees to interact with other people without discrimination regardless of their cultures and backgrounds. The training has a positive impact on the multicultural work environment because it prevents employees’ conflicts and increases cultural competency. The incidents of retaliation, harassment and discrimination between the employees will be reduced considerably after the training schedule so that the organization will have a peaceful work environment. The unfair assumptions and stereotypes that are ingrained in the minds of the employees will be eliminated as they will become more tolerant towards each other. Among other important topics, sexual harassment is a common issue that arises in the workplace and with the right training; these incidents can be reduced considerably. Additionally, the employees will become more empathic and understanding to the other employees after completing the training so that human interactions will be carried on with any kind of conflicts. The training is also used for unfreezing the old values of the employees so that they don’t have a biased opinion about any other employees. The training is done with small group of employees who are thoroughly trained in unstructured group by a trainer who uses examples for making the concepts clear. This will also help in development of the new values and it will have a strong impact on the interpersonal behavior of the employees undertaking the training. The benefits of the training are that the employees will also develop emotional intelligence so that they can become more sensitive towards the other employees. It will also help them to manage their emotions and be good to other working with them.
Decks are considered as a popular choice among homeowners who are opting for decks for enhancing their outdoor space and making it look even more attractive. But you need to make sure that the deck is designed and planned carefully so that you will enjoy getting additional space for entertainment and relaxation. Hence for this, you will need to hire experienced and skilled Charlotte deck builders who will put in efforts for constructing a high-quality deck at your property. Hiring the right kind of professional will guarantee that your deck will last longer and you will not have to spend additional money for its replacement. Moreover, you will not have to put in a lot of time and effort into the maintenance of the deck so that you will invest your time in other productive tasks.
There are many benefits of hiring Charlotte deck builders and the most important benefit is that these professionals will follow the correct installation process of the deck. This will enhance the longevity and functionality of the deck so that it will help you to enjoy yourself with your family at this additional outdoor space. These professionals will offer their best quality work for making sure that you will get up to date look and quality of the deck that will impress your guests and visitors. Whether you want to relax in the deck to entertain your guests, you should hire the best deck builder after proper research so that you can hire the right kind of professionals. These professionals will offer a high-quality deck installation service so that the overall value of your property will be increased greatly. You also have the option of selecting the decking material as it should be according to your tastes and preferences. It should be within your budget for making sure that your outdoor space will be a gathering place for you and your family members. You should select the features and elements in your deck for making sure that it will reflect your style and personality to the fullest. The kind of deck that you need should be designed according to the purpose for which you want this outdoor space. You should never try doing any kind of installation work yourself because it might cause injuries and accidents. But it is always advisable that you hire professional deck builders who have been working for deck installation for a long period of time. Apart from improving the overall look and beauty of your outdoor space, the deck can also improve your mental health and well being. You will be able to spend more time outdoors which is very important for making your more active and lead a healthy lifestyle.
Having your own deck can be very beneficial for you and your family because this space will increase the value of your home while helping you earn a higher return on your investment. But you should always seek the assistance and guidance of skilled deck builders who have been working in this field from the past many years. They will also make sure that your deck is installed in a safe manner so that it does not pose any risks to the homeowners and will also complete the project successfully. Additionally, these deck builders also have the expertise and know-how that is needed for the correct installation of the deck that will suit your requirements. They will never make any mistake pertaining to the deck installation so that you can rest assured that you will get a host of benefits along with your family members. This amazing addition to your property in the form of the deck will help you enjoy its benefits for many years. You will not have to face space constraints because the deck can add valuable space to the outdoors without much of an effort. Therefore, it is very important that you hire someone who has the experience and knowledge in deck building for helping you get the best quality decks here. You should look for a reliable and reputable deck company that offers the right kind of professionals for high-quality services. This is the best way of improving your outdoor space so that you can spend some quality time with your loved ones in the open space.
Each loan type comes with its own set of terms and conditions.
To determine which loan is right for you, carefully consider what your business needs the loan for, what repayment terms you can handle and how much money you need.
Finding the right sources of funding for your business can be difficult. There are many types of funding available – investors, grants, loans, etc. – and each has its own application process and set of rules.
One of the most common options for small business funding is a business loan. Small business funding sounds like it should be easy enough to obtain, but borrowing money is not as straightforward as it seems.
A 2017 study found that 27% of small businesses have difficulty gaining adequate financing. As a business owner, you need to know your options so that you can tailor your application to the type of loan you need and lay out exactly how you plan to use the funds.
Consider these seven types of business loans to figure out which one is right for you.https://widgets.business.com/qt-widget-v2/index.html?pubId=1000&offerGroupId=11&widgetHostPage=https%3A%2F%2Fwww.business.com%2Farticles%2F4-types-of-business-loans-and-which-one-is-right-for-you%2F&isHeadlineVisible=true&viewType=default&hasBestPickBadge=false
Friends and family loan
We’re all familiar with this option, but there are specifics as to when and how to do it that surprise you. First, it’s always a good business practice to put the loan in writing, and to state a specific interest rate and repayment plan. Otherwise, you open the door to unfortunate misunderstandings that can chill your relationship. Also, you should have documentation of the loan’s terms in case the IRS decides to audit your business.
Borrowing from loved ones carries risk. We’ve outlined the benefits and drawbacks of borrowing money for your company from your parents, and a lot of these tips hold true for other family members and close friends who may lend to you. The reality is that many people may not have extra money to part with or, if they do, aren’t comfortable parting with such a large sum for something they have no control over. Be sure to “overcommunicate” the value you bring to your customers, and indicate if and how your friends and family will be able to participate in your business.
You should provide a written promissory note that states how much money they can expect you to pay back and at what interest rate. With this note, you’ll also want to specify a repayment schedule in writing.
Money borrowed from friends and family can come with the best low-interest repayment plan you’ll ever get. This is one of the best reasons to borrow money from friends and family instead of banks and commercial lenders. You may also expand your sales force when you borrow money from those you know: When they’re financially invested (in addition to being personally invested as someone who loves you), they may take it upon themselves to help you succeed and reach your business goals.
How to apply
To show you’re serious about requesting funding from relatives, you may want to approach the subject formally, armed with your business plan, projections, outlines of how you’ll use the money, specifications on your friends and family’s involvement in your business financing, and suggested loan terms and repayment terms. [Read related article: The Roadmap to Peer-to-Peer Lending]
Editor’s note: Looking for a small business loan? Fill out the questionnaire below to have our vendor partners contact you about your needs.
Business line of credit
A business line of credit is a flexible business loan that allows you to only pay interest on the portion of money that you borrow. It works similarly to a credit card in that you may draw and repay funds as you need, so long as you do not exceed your credit limit. This is a great option for businesses looking for an easy way to manage their cash flow, purchase inventory or pay a surprise expense.
A business line of credit works like a credit card, allowing you to take out and repay money on your own terms as long as you stay within your credit limit and make payments on time. Most lenders will allow you to pay off your balance early to keep your interest costs down.
Line of credit limits tend to be lower than business term loan amounts – generally from $1,000 to $250,000 – and are unsecured, so you typically do not need to put up collateral except in the case of a larger line of credit.
Business lines of credit are a flexible option that allow you to manage your business’s cash flow as you see fit, and you can reuse and repay your credit as often as you need.
How to apply
Similarly to business term loans, you can get a business line of credit from either a traditional bank or online lender. Banks will require your business to have strong revenue and one to three years of positive history to qualify, as well as the following documentation:
Tax returns (business and personal)
Bank account information
Business financial statements
Online lenders generally have fewer restrictions and qualifications than banks, but they tend to charge higher interest rates and have lower credit limits.
FYI: To qualify for a business line of credit from an online lender, you’ll need to have been in business for at least six months, make $25,000 or more in annual revenue, and have a credit score of 500 or higher.
Working capital loan
Working capital loans are short-term business loans designed to bring extra cash into the business to use for growth and expansion, and for day-to-day expenses such as advertising, payroll or inventory purchases. You can also use working capital loans to cover emergency costs or pay down debt.
Like personal loans, working capital loans require you – as the business owner – to have a sparkling personal credit history. Applications for this type of funding require a significant amount of paperwork, and processing can take weeks or even a few months.
Working capital loans are effective because they finance the everyday operation of your business and usually have low interest rates. You may be able to secure a rate between 3% and 7% if you have a great credit score.
How to apply
Working capital loans are typically available through large, national banks as well as regional or statewide banks. You might also look into working capital loans available at your local credit union or through a third-party direct lender. For the best chances of securing a working capital loan, approach the bank that you already do business with first. Not only will it have access to a lot of your financial information, but it will be able to review your existing banking and credit habits to assess risk.
Business term loan
A business term loan is a lump sum of capital that you pay back in regular payments at a fixed interest rate for a set period of time – which is where the “term” part comes in. The term is generally one to five years.
The purpose of a business term loan is to allow you to finance a large purchase for your business, such as equipment or new facilities. There are few restrictions to a business term loan, and most businesses that have good credit and generate revenue will qualify.
With a business term loan, you get a predetermined amount of money and a fixed interest rate to be repaid in a set number of years. The loan amount will depend on your business and its needs, but it’s generally within the range of $25,000 to $500,000, with interest rates from 7% to 30%.
A business term loan generally has few restrictions and can help you build your business by introducing new capital for purposes like a new office or equipment. You will also have all of the information and terms regarding your loan from the get-go, but it’s still important to carefully read the contract so nothing will be a surprise down the line as you start making payments. [Read related article: Hidden Gotchas in Your Business Loan Repayment Terms]
Did you know? Business term loans are suitable for a wide range of businesses, and they generally offer lower monthly payments and longer payment terms than short-term loans.
How to apply
You have a couple of options when applying for a business term loan. They are traditionally available through banks, though that can be a long and arduous application process. Several banks offer expedited online applications, though. These are some of the documents you’ll need:
Voided business check
Tax returns (personal and business)
Profit and loss statements
Small Business Administration (SBA) loan
SBA loans are government-backed loans that are available to small businesses from private-sector lenders. These are secured loans, meaning you must pledge your company or personal assets as collateral. There are three different SBA loan programs:
The 7(a) Loan Program is the SBA’s main program for providing assistance to small businesses. The terms and conditions vary by loan, and maximum loan amounts range from $350,000 to $5 million.
The Microloan Program provides the smallest loan amounts available from the SBA, ranging from $10,000 to $50,000. Microloans are ideal for small startups, borrowers with limited collateral or companies that just need a small financial boost.
The CDC/504 Loan Program offers loans to small businesses with long-term fixed-rate financing for the purposes of expansion or modernization – such as large equipment or real estate purchases. These are typically larger loans, “generally capped at $5 million.” Terms are 10, 20 or 25 years, depending on the purpose of the loan.
There are multiple conditions under which SBA loans cannot be issued, including if a business is operating as a nonprofit or is not based in the United States. SBA loans cannot be used to repay delinquent state or federal withholding taxes.
Terms vary by the size of the loan, the planned use of the money and your needs as a small business borrower. The maximum term allowed for a microloan is six years. Interest rates are usually between 8% and 13%.
Each SBA loan has its own unique benefits. For instance, a 7(a) loan is extremely versatile and can be used to purchase land or buildings, cover new construction, finance equipment or other supplies, or acquire an existing business.
Microloans may be available to businesses that otherwise wouldn’t qualify for a loan. They can also be used in multiple ways – as working capital; to purchase inventory, supplies, furniture and fixtures; or to buy machinery and equipment.
The 504 Loan Program, which borrowers typically use to buy commercial real estate or heavy equipment, offers both short-term and long-term benefits, including 90% financing, longer loan amortizations, fixed interest rates and overall savings.
How to apply
Each program has specific eligibility criteria and an application process. Visit the SBA website for information on how to apply for an SBA loan and for checklists to ensure you have everything you need for a successful loan application.
Accounts receivable factoring
Accounts receivable factoring is also known as receivable financing. This type of business loan is used to convert sales on credit terms for immediate cash flow. For example, if you provide outsourced marketing services to large enterprise clients, you might sell your existing, uncollected invoices (which you are waiting on payment for) to a third party for an advance payment. This third party, called the factor, provides you with the full or partial amount and then collects on the sale from your customer. This type of financing is generally used to buy your small business some time while you look for more long-term, sustainable sources of financing.
This receivable credit line can be costly, so you should exhaust all other efforts of financing before turning to it. Once you factor in a discount fee, interest rates of 10% to 25%, and other charges, you could end up paying much more over time than you would with other financing options. Also, your financing is determined by the financial strength of your customer, not you as a seller of goods or services. Most invoices over 90 days old will not get financed, and invoices that are paid out quicker will afford you more beneficial terms.
One of the greatest advantages of this type of business loan is that it allows you to cash in immediately on your future receivables; you won’t have the majority of your capital tied up in inventory or unpaid invoices. It may also be beneficial to outsource your accounts receivable management to another company, freeing up your focus for productive work on your business. This funding is also faster than many options, as you don’t have to provide a business plan or tax statements.
How to apply
Most companies that offer accounts receivable financing are commercial lenders, not banks. To apply for accounts receivable financing, you’ll have to fill out an application and hand over your articles of incorporation, your company’s most recent accounts receivable and payable reports, a master customer list, and an example of your typical invoice.
Merchant cash advance
A merchant cash advance isn’t technically a loan, but rather a cash advance based on the credit card sales deposited into your merchant account.
Merchant cash advances are quick, often depositing funds 24 hours after approval. Historically, merchant cash advances have been used by businesses that primarily subsist on credit and debit card sales, such as restaurants and retailers, but they have become available to other businesses that do not rely on card payments.
With a merchant cash advance, you receive an upfront sum of cash in exchange for a portion of your future credit and debit card sales or by remitting fixed daily or weekly debits directly from your bank account.
Merchant loan advances provide you with fast money but carry high annual percentage rates that consist of the total cost of the loan plus all fees. They can run your business into debt quickly if you are not careful.
Your fee amount is determined by your ability to repay the merchant cash advance. The provider will determine a factor rate of 1.2 to 1.5 based on a risk assessment. The higher the factor rate, the higher your fees. Your total repayment amount is the factor rate times the cash advance.
The main draw of merchant cash advances is that they are fast; you could have cash in hand less than a week after submission with little to no paperwork. Merchant cash advances are also unsecured, which means you do not have to put up collateral in case you cannot repay, and repayments will adjust to how well your business is doing.
How to apply
Applying for a merchant cash advance is simple. Start by looking at online business lenders and filling out their online applications. Expect to provide three months’ worth of financial statements.
There are many benefits of DOT drug testing. Understanding these makes it easier for you to find a company that will take care of the testing for your drivers. It will allow you to remain compliant, and ensure that you aren’t endangering anyone out on the roads.
You Hire Better Drivers
You have the ability to hire better drivers when there is DOT drug testing being conducted. This way, you can learn more about what they are doing in their spare time. If you have a drug test done prior to extending a position, you can learn whether they are clean or not. If the test comes back positive, it shows you don’t want them on your team.
As such, your company is going to have better drivers on the road. This can minimize accidents and avoid problems with employees calling out or not providing the superior customer service you are known for.
You Maintain Driver Integrity
Drivers are less likely to do drugs when they know that they could be called for a drug test at any time. When you identify that you are a drug free workplace, they should respect this. However, testing is the only way to know for sure and keep everyone honest.
You Sort Out the “Bad Seeds”
Some people don’t care. They don’t care about the rules or about the legal implications of being caught. These are not the types of people you want working for you. With a drug test, you can sort out the bad employees when they test positive for one drug or another.
Employees are Less Likely to Use
You don’t want to deal with any drivers who are under the influence of drugs. This is because you don’t want the risk that they will get into an accident. An accident in a truck can cause serious damage, and result in injuries and potentially deaths. This is not something you want associated with your company and therefore it’s best to deal with everything in a timely fashion.
When you know more about what employees are doing, you keep them honest. When they know that they could be tested at any time, they are less likely to do drugs. If they do want to do drugs, they know not to work for you because you are going to find out if they are using.
It Can Be Done Randomly
By taking advantage of drug testing, you can also have it scheduled randomly. This means that drivers will have no idea as to when they will be tested. It can all be done by a third party, too, so you don’t have to remember when.
When you hire a company that handles all of the drug testing on behalf of your company, you learn more about what’s being done. You don’t have to be the one responsible. This means that you can maintain a “hands-off” approach with it all. When there is a third party taking care of everything, it allows you to remain neutral to all that’s going on.
Each year drug and alcohol abuse costs U.S. companies billions of dollars, which includes turnover rates for employees, unexcused absences, lower productivity, accidents, and increased workers’ compensation claims. According to the National Safety Council, employees who abuse prescription drugs are two to five times more likely to take unexcused absences, be late for work, be injured or violent at work, file workers’ compensation claims, and quit or be fired within one year of employment.
The National Council on Alcoholism and Drug Dependency (NCADD) reports 70% of the 14.8 million Americans who abuse drugs are employed.
50% of workplace accidents and up to 40% of employee theft is caused by drug abuse according to the U.S. Department of Justice.
DRUG TESTING BENEFITS
Testing your current and potential employees can help prevent and detect workplace drug abuse. The most common drugs at the root of the substance abuse issue include marijuana, cocaine, heroin, ecstasy, methamphetamine, and opioids. Employers with a drug-testing program in place report:
Reduced employee healthcare costs
Improvements in employee morale, productivity, and performance
Decreased absenteeism, accidents, downtime, turnover, and theft
Compliance with state or federal regulations
Being able to identify and refer employees who have drug and/or alcohol problems
There are a variety of employment-related drug and alcohol tests used by employers. For more than 30 years, DISA has worked to make the drug testing process easier and more streamlined for customers.
Regardless of your industry or unique requirements, DISA has the tools, and best-in-business practices necessary to help you create a drug-testing program that will work for you and your company. Before making a decision, we encourage you to research the benefits of each type to determine what best matches your company’s needs.
Although many aspects of society are harmed by illicit drug use and abuse, it is especially detrimental in the workplace. Not only can it lower the productivity and revenue of a business, but it can also place employees at risk. In fact, depending on the line of work, the drug abuse of an employee could have fatal consequences. Luckily, employers these days are able to test for illicit drug use and implement strategies to pursue drug-free workplaces. Today we’re discussing why drug testing is important and how to employ it effectively.
Why Drug Testing Is Important
Safety. Drug use can impair a person’s judgment and increase safety risks. This is especially concerning in certain industries, such as construction, in which using drugs or alcohol at work could cause an injury or even a fatality. As employee drug abuse causes as much as 50% of all on-the-job accidents (source), this is not a matter to be taken lightly. Plus, drug testing can improve the quality of life of employees and their families.
Performance. Workers under the influence of drugs may struggle to stay on task, letting their minds drift toward problems that aren’t related to their work. Drug testing allows employers to target those employees who aren’t reaching their full potential due to illicit drug use, removing weak links and improving their company’s performance overall.
Productivity & Profits. Substance abuse or addiction can lead to missed deadlines and decreased attendance. Dwindling productivity will result in lower profits as well—after all, if your company isn’t producing work at a steady rate, how can you expect to maintain consistent profits? Finally, it’s important to note that drug abuse also causes up to 40% of employee theft (source), an additional drain on profits.
Turnover Rates. Pre-employment drug testing is a great way to find employees who fit your company’s goals and standards. In addition, it reduces the likelihood that you will have to fire a new employee down the road, allowing you to retain valuable workers and decrease your turnover rate.
Medical Costs. Substance abuse can dramatically increase a person’s medical costs. In fact, business owners lose an estimated $140 billion annually due to drug use (source). Workplace drug testing allows employers to decrease their health insurance premiums and health costs by reducing on-the-job accidents and drug-related illnesses. It’s a win-win situation, improving the health of employees and reducing costs for employers.
Although most employers focus their drug testing efforts on job candidates, more and more employers are testing current employees as well through random programs. Although 10% of employed Americans between the ages 18 and 49 admit to illicit drug use (source), with the right resources and programs, this persistent problem can become a thing of the past.
COVID-19 leads to changes in drug testing rules that give employers more flexibility. David Sparkman APR 02, 2020
Because of the Coronavirus epidemic, the U.S. Department of Transportation (DOT) has made changes in its drug and alcohol testing regulations regarding employees in safety-sensitive positions, including interstate truck and bus drivers.
On March 23, DOT issued a guidance saying, “The nation’s transportation industries, which are not immune to the impacts and disruptions resulting from the spread of COVID-19 in the U.S., are playing a vital role in mitigating the effects of COVID-19. DOT is committed to maintaining public safety while providing maximum flexibility to allow transportation industries to conduct their operations safely and efficiently during this period of national emergency.”
The department’s guidance states that while DOT-regulated employers must continue to comply with training and testing requirements, DOT recognizes that compliance may not be possible in certain areas due to the unavailability of program resources. These may include access to collection sites, Breath Alcohol Technicians (BAT), Medical Review Officers (MRO) and Substance Abuse Professionals (SAP).
“You should make a reasonable effort to locate the necessary resources,” DOT says. “As a best practice at this time, employers should consider mobile collection services for required testing if the fixed-site collection facilities are not available.”
If an employer is unable to conduct training or testing due to COVID-19-related supply shortages, facility closures, state or locally imposed quarantine requirement, or other impediments, it must continue to comply with applicable agency requirements to document why a test was not completed.
If training or testing can be conducted later (for example, supervisor reasonable suspicion training at the next available opportunity, random testing later in the selection period, follow-up testing later in the month), you are to do so in accordance with applicable modal regulations.
If employers are unable to conduct testing due to the unavailability of testing resources, the underlying modal regulations continue to apply. For example, without a “negative” pre-employment drug test result, an employer may not permit a prospective or current employee to perform any DOT safety-sensitive functions. In the case of the Federal Aviation Administration (FAA), the individual cannot be hired.
DOT said it is aware that some employees have expressed concern about potential public health risks associated with the collection and testing process in the current environment. Employers should review the applicable DOT agency requirements for testing to determine whether flexibilities allow for collection and testing at a later date.
DOT reminds employers that it is their responsibility to evaluate the circumstances of the employee’s refusal to test and determine whether or not the employee’s actions should be considered a refusal under the regulations.
“However, as the COVID-19 outbreak poses a novel public health risk, DOT asks employers to be sensitive to employees who indicate they are not comfortable or are afraid to go to clinics or collection sites,” the guidance says. “DOT asks employers to verify with the clinic or collection site that it has taken the necessary precautions to minimize the risk of exposure to COVID-19.”
DOT also urges employers to revisit back-up plans to ensure the plans are current and effective for the current outbreak conditions. For example, these plans should include availability of collectors and collection sites and BAT, and alternate/back-up MRO, as these may have changed as a result of the national emergency.
Employers should also have regular communications with service agents regarding the service agent’s availability and capability to support their drug and alcohol testing program.
“Should you have concerns about COVID-19 when testing or interacting with employees, please follow your company policy, directions from state and local officials, and guidance from the Centers for Disease Control and Prevention (CDC),” DOT recommends.
Truck and Bus Drivers
In accordance with these guidelines, DOT’s Federal Motor Carrier Safety Administration (FMCSA) has made changes to its regulations applying to drug and alcohol testing for commercial drivers that are scheduled to remain in place until June 30.
FMCSA said it is aware that “disruptions caused by the COVID-19 national emergency are interfering with, and in some cases, may be preventing, employer and driver compliance with current drug and alcohol testing requirements.”
These are the actions recommended by the agency for FMCSA-regulated employers who employ truck and bus drivers in interstate commerce and are unable to conduct certain kinds of testing because of the demand for transportation of essential supplies:
Random Testing. Employers are required by federal regulations to ensure that the dates for administering random alcohol and controlled substances tests are spread reasonably throughout the calendar year. DOT guidance further recommends that the employer perform random selections and tests at least quarterly.
If, due to disruptions caused by the COVID-19 national emergency, you are unable to perform random selections and tests sufficient to meet the random testing rate for a given testing period in order to achieve the required 50% rate for drug testing, and 10% for alcohol testing, you should make up the tests by the end of the year.
In addition, FMCSA says employers should document in writing the specific reasons why you were unable to conduct tests on drivers randomly selected, and any actions taken to locate an alternative collection site or other testing resources.
Pre-Employment Testing. If an employer is unable to conduct a pre-employment controlled substances test, in accordance with federal regulations, it cannot allow a prospective employee to perform DOT safety-sensitive functions until having received a negative pre-employment test result, unless the exception in the regulations for trip lease drivers applies.
A trip-lease driver is generally a driver employed by one carrier, but who is temporarily leased to another carrier for one or more trips generally for a time period less than 30 days. This also applies to volunteer organizations that use loaned drivers.
Post-Accident Testing. Employers are required to test each driver for alcohol and controlled substances as soon as practicable following an accident. However, if the employer is unable to administer an alcohol test within eight hours after an accident or a controlled substance test within 32 hours following the accident, due to disruptions caused by the national emergency, the specific reasons why the test could not be conducted must be documented in writing.
Reasonable Suspicion Testing. The employer should document in writing the specific reasons why the test could not be conducted as required. Make sure to include any efforts made to mitigate the effect of the disruption, such as trying to locate an alternative collection site. FMCSA says this documentation should be provided in addition to documentation of the observations leading to a test, as required by agency regulations.
Follow current regulations addressing situations in which reasonable suspicion testing is not conducted, set forth in FMCSA’s guidance in regard to this part of the regulations.
Return-to-Duty (RTD) Testing. In accordance with current regulations, an employer must not allow a driver to perform any safety-sensitive functions until the RTD test is conducted and there is a negative result. Nothing is changed in this regard.
Follow-Up Testing. If testing cannot be completed, the employer should document in writing the specific reasons why the testing could not be conducted in accordance with the follow-up testing plan; you should include any efforts you made to mitigate the effect of the disruption, such as trying to locate an alternative collection site. You should conduct the test as soon as practicable.
You’ll most likely be writing a lot of research papers while in college, so it is important to master the skill of finding the right research paper topics. Unfortunately, not all the topics you are interested in maybe that easy to write about. It becomes even more difficult if there is not enough research material about the topic you’ve chosen.
Research Paper Topics: Find A Broad Subject First Then Narrow It Down
One thing that works when finding the right research paper topics is to think of several subjects that interest you. Try writing down these subjects on a sheet of paper. Choose the one that interests you the most and then break down the general subject into smaller chunks of topics that are related to it. Related Post – 3 Tips to Avoid the High Stress of a College Paper
Narrow down your topics to the most interesting one. If it is a controversial topic, choose a particular perspective that you will develop in your research paper. Read different points of view related to your topic as this expands your knowledge and makes writing your paper easier.
Mind mapping is always a good idea, too. To find out how much you actually know about a topic, make a mind map of it. Put the main concept in the middle of a sheet of paper, then start adding relevant terms around it. By the time you run out or terms that you know on this topic, you’ll see if they make enough for a paper.
Another way to get yourself completely rid of all the trouble is to get a research paper writing service to help you. By delegating your assignment, you will free up some of your time and see how this type of paper is done by a professional. You can stay in touch with your paper writer every step of the way, ask them questions and request drafts. This will allow you to stay on top of the process and see how a thesis statement becomes a full paper.
A helpful way to find a topic that would make writing a research paper easy is to use one you’ve already written about. Take one of the essays you’ve written for this particular subject and see if you can broaden this topic. How much more detail can you add? Has any new research been made on that topic? In academia, it’s quite normal to broaden and deepen your past research, so you might as well start now.
Make Sure You Have Enough Resources For Your Topic
Do a quick computer search on the topics on your list to see which one is widely researched. This means finding a topic that is discussed not just on websites or blogs, but more so in books, articles, and even encyclopedia references. Find a topic that is both interesting and has plenty of published material. Check magazine articles, because these are usually shorter and more updated than those found in books.
Check References From The Library
Once you have chosen your topic, check the internet for references and also try using your school’s library database, which may also be available online. Don’t hesitate to ask your librarian for assistance with an urgent research paper. Other resources beyond the library include research paper websites that provide professional research paper writing help.Related Category – Annotated Bibliography: A Guide to Correctly Citing Sources
Writing a research paper requires a lot of time, extreme concentration, and diligence. And not everyone can cope with this task. Therefore, some people turn to special services for writing student papers. However, we do not recommend ordering this work. It is better to order editing of the writing assignment. In any case, it is always better to analyze both writing and editing services. It is difficult to identify scammers, so it is better to trust a professional like William Grabe. On his website, you will find a detailed analysis of the best essay writing services.
Running out of topics to write about? Check the suggestions below that can help you choose the right research paper topics:
The obsession with having a beautiful smile has driven the dentistry industry into investing and innovating many proper dental treatment techniques and technology. One of the many includes Invisalign treatment. Simply put, Invisalign is an advanced form of conventional braces that use clear tray aligners. They work by putting just as enough pressure on specific parts of your teeth to move them into a better position steadily. The aligner trays are replaced every one or two weeks. And as the treatment proceeds, you will be fitted with differently shaped aligner trays in order to move your teeth slowly into the position and shape you feel strongly confident about.
Generally, before you consider starting an Invisalign treatment, you will be required to consult with your dentist. They will first assess your Health, take impressions of your mouth and check your smile before deciding on the appropriate procedure to follow.
Benefits of Invisalign
While Invisalign treatment is known to be somehow costly, its associated benefits are far more worth the dime spent. The price of putting a beautiful smile on is simply priceless, and once you get it, it lasts a lifetime.
The benefits of Invisalign treatment are as follows.
It takes less time to complete treatment, while normal brace treatment takes longer. Invisalign treatment takes a shorter amount of time before you get the smile you crave for. Ideally, a single treatment takes close to 12 to 18 months, but results can be seen in a matter of a few months prior to the first treatment. On average, some patients may start seeing results from 6 months after the first treatment.
Treatment time may vary from patient to patient because result preferences are not equally the same. These different results take different periods to achieve.
Some other important factors/benefits to consider include:
Age – the time taken to straighten your teeth varies depending on the age of the patients. Invisalign treatment in adults takes longer than in younger people because of varied jaw hardness.
Compliance with treatment – how you follow the treatment plan greatly influences the time of your treatment. Considering the time used and the cost of this treatment, it is advisable to stick to the schedule for better and faster results.
Easy to remove when cleaning your teeth or eating- You can easily remove the Invisalign trays from your teeth whenever you want to eat or clean them. Once you are done, sticking them back does not require you to go back to your dentist, but a little pressure applied fits them back in.
Gradually moves your teeth, hence comfortable- Unlike traditional braces, Invisalign trays are designed to move your teeth into position steadily. This way, you do not have to feel any pressure on your jaws that would otherwise make you feel uncomfortable.
They are transparent and almost invisible, unlike conventional braces- Invisalign trays are made to be near invisible, and this makes them less conspicuous. So you have less to worry about people noticing them when you smile. While there is no shame in people seeing them, many patients prefer keeping the treatment to themselves.
Require fewer visits to the dentist- You will only need to visit your dentist only once a month for a few adjustments and examinations. You will be fitted with a different Invisalign set with varied tray shapes from the previous one. This is done to help force movement and new teeth positions.
If you want to expand your recruitment offerings and process to boost your profits by improving your ability to market your business then contract staffing can be a great option for you. But to organize payroll for your contracted staff you will need funds unless you get paid by your clients because payroll funding for staffing agencies is the responsibility of their owners.
It can be more difficult to manage the funds for payroll for staffing agencies if the flow of cash is not favorable. Your client may pay you after 30-0 days but you may have to pay your contractors on a weekly or biweekly basis. Even if you have only one contractor, you may need thousands of dollars for his payroll before you expect payment from your customer. The funding of payroll can increase quickly if you have several contractors for your staffing agency.
In order to maintain the profitability of your business, you should not allow the cost of payroll funding increase. As far as payroll funding for staffing agencies is concerned you can use a few options discussed in this write-up.
Options for funding payroll for your staffing agency
The meaning of funding the payroll of contract staff is not confined to their wages or salaries but you should also have funds to pay for several other things like unemployment taxes, liabilities of employer tax and compensation insurance of the workers, etc. Initially, it may look stressful to fund the payroll but you can arrange the things until you are paid by your clients without much effort by following the tips discussed here under.
Line of credit: You can ask your bank for a line of credit for funding payroll for your staffing agency. It is a revolving account that allows you to use it for funding your payroll, unlike a loan. Though it allows you to use funds against some fees but you control its cost by paying off the cash withdrawn from this account with the payments received from your clients.
It is one of the best options for funding payroll for large staffing agencies and companies but you cannot open a line of credit with a bank if the size of your staffing agency is small. Moreover, you will have to pay fees uselessly if you apply for a too small or too large line of credit. Furthermore, it can increase the risk of forfeiture of your assets used as collateral while getting a line of credit from a bank.
Self-funding: For funding the payroll of your staffing agency you can also use your money. You need not pay any kind of fees or take a loan for this purpose if you use your own funds.
You will have to plan your budget to organize payroll for your staff from your own funds. From the profits of your placement or staff recruitment business, you will have to put some funds aside. But it can be a bit difficult for you to fund the payroll for your staffing agency if you have just started it.
You may not be able to run your business of contract staffing unless it becomes profitable, you have large savings in your account, you already have a successful business of direct hiring staff or you have some other income source.
Outsource contract staffing back-office: The provider of back-office contract staffing will not only take care of funding your payrolls but also control the task of processing payrolls. In this way, your contractors will legally become the employees of the provider of Back Office Staffing Solutions The back-office provider will handle all the responsibilities of the contractors including negotiating the contracts, unemployment insurance, worker’s compensations, background checks, administration of benefits, as well as making invoices and collection of payments, etc.
When you use the option of contract staffing back-office then you can get more the just funding payroll for staffing agencies as it will also allow you to earn a considerable amount of profits per hour on your works of your contractors.
Moreover, you will not only get rid of the problem of funding payroll but also save a lot of time to do some more fruitful tasks by outsourcing your payroll to the provider of contract staffing back office.
Payroll factoring companies: Another option for funding payroll for staffing agencies is to use factoring of invoices. Asset financing services are offered by the companies dealing in payroll factoring or funding. The invoices of the client due to be paid within 90 days are purchased by the factoring companies and give you cash immediately.
The amount of invoice will be paid by the funding company in two installments. One installment will be paid in advance and a percentage of it will be held by the company as security until the invoice is paid by the client. And you will have to pay a percentage of the invoice as fees for factoring invoices.
The process of approval for factoring invoice moves faster than funding by banks but you should keep in mind that the credit of your client will be considered by the company factoring invoice. An agreement is signed between you and the factoring company if your invoice is approved by them. You will be paid advance money as soon as you sign this agreement. This advance money can be 80% of the amount of the invoice or can vary depending upon the factoring company.
It is up to you to inform your clients about the factoring of their invoices so that they can directly pay the invoice to the factoring company. You will receive the amount withheld by the factoring company when the invoice will be completely paid by your clients to them.
The fees of factoring invoice will a percentage of the total amount of the invoice which can be influenced by the time taken in making the payment as well as the soundness of the client. Some of the factoring companies may charge some extra fees like fees to check credit, transaction, or for opening an account, etc. from you.
Thus, you can organize payroll funding for staffing agencies by using any of the options discussed in this write-up.
When you are having a hard time at school, you are certainly not alone. It would be time to enlist the help of a local private tutor when the going gets tough. These people have been there and done that when it comes to studying for exams. They know what they must do in order to prepare you for the hardships of the tests. Since there are many local tut0rs, you must know what you must look for in one. Besides, you would not want to change tutors after every few days as that would not be good for your study habits. You would still need to take time to adjust to the new tutor and that would take a few days. Here are a few things to look for in private local tutors:
The tutor should show up on time at the meeting place whether it is at the library or your house. There should be no excuses especially when it happens several times. You know you are not dealing with a focused individual if he or she gets late most of the time. It won’t be long before your patience would grow thin and you would have no choice but to find another one. It is not a good feeling to be waiting at the place you were supposed to meet. You would want to get started with the tutoring session immediately unless the tutor told you ahead of time that you must study the lesson and he or she is going to test you once the tutor arrives at the meeting place. In fact, it would be better if the tutor was there before you.
You must be impressed by the mental capabilities of the local tutor. You won’t feel the need for the person if you find out you are smarter than that person. The tutor may just be looking for some side income even if the person can’t really back up his or her claims. In fact, you must ask to see the list of accomplishments by the private tutor so you would feel confident that you are being taught by a smart person. You are going to be surprised at how the tutor will teach you. It will be some innovative strategies that are highly effective. It can be things that were not done by other tutors in the past. There is no doubt a smart tutor would impress you many times in ways you would never have imagine. Like they say, it is all in the mind.
The tutor must be teaching students for a pretty long time. This would allow the person to be used in dealing with all sorts of attitudes. Some people have attitudes that are hard to deal with. The tutor must be in the industry for quite a number of years. If this is the case, the tutor will feel confident in being able to teach you the lesson in a short and effective manner. It won’t be long before you would want to hire the person again for your kids in the future. The local tutors don’t even need to tell you how experienced he or she is. Just from the way the person teaches you, you will already know that the tutor has been doing this for a pretty long time.
The local tutors should not charge too much especially since the person knows you are not really financially capable yet. If you are just a student, there is no reason for the person to charge a hefty amount. You must stay with someone who would not charge a lot of money. Even if the person is affordable, you must still be able to learn a lot from that person or else you will end up wasting your money. You must be getting what you pay for when you are with the tutor. There is no point in discussing about other things besides the lesson. That is what you came there for and that is what you must do. Also, the payment terms that were discussed before the tutoring sessions started should be the ones that will be followed.
The tutor must have prepared what you are going to tackle. You can’t afford to waste anytime just looking at each other. No matter how many students there are in the room, the person must prepare things to do for each one. It is possible for the private tutors to handle numerous students at the same time. This just means the tutor is pretty in demand and a lot of people recognize he or she is worth the money. You would have no choice but to be the one to adjust to the tutor. There should never be a time when the tutor would meet you and don’t know what to do. That is just unprofessional and you will end up wasting a few minutes figuring out what to do next. Like they say, time is gold so you must make every minute useful.
You must ask the past students of the private tutors you are looking at and they should all have nothing but nice things to say about the person. If that happens, there is no doubt you are going to feel great about hiring the person in the future. You would want to see as many unbiased reviews as possible. Yes, you would want to weigh the pros and cons of hiring that person so you know you won’t be wasting your money. There is no such thing as the perfect tutor as all these people would commit several mistakes somewhere down the line. If you think the pros outweigh the cons, then you should be leaning towards hiring the person.
If the private tutors have all the above qualities, every penny you pay that person will be worth it. In fact, you may even find yourself looking forward to the tutoring sessions once you set a next one.