“I need Working Capital”

First Financial of Baton Rouge, LLC has partnered with Capital South Lending, LLC (CapSouth)!!! Our clients have expressed again & again that they are not able to secure financing for capital for various reasons. CapSouth is quickly becoming the leader in Baton Rouge for commercial lending including its flexible and simple SBA programs. There is money available no matter what your situation with easy approvals and fast, fast turn around time.

Capital South Lending was founded in 2007 by Coby Manuel to solve the age old problem faced by millions of small business owners: getting fast and simple access to working capital. With over 17 years of venture capital lending experience domestically and abroad, Coby understands what it takes to make a payroll, pay for inventory, marketing and all day to day operations without a reliable capital source. ( WE MAKE IT SIMPLE) was the goal of his management team and will continue to be the main focus for funding Capital South’s clients. With one of our strongest programs known as the SBA EXPRESS, we can assist your business without strong financials to get capital to help grow your company. We’ll give you the help you need, with a dedicated staff to assist with all your business loan needs we will begin to work immediately to loan you from between 5,000 to 350,000 in UNSECURED business financing. Stop passing up the opportunity to live your dreams. Start to grow and make more profit with your existing company by contacting Coby Manuel at 844-228-2491 are e-mail him at coby@capitalsouthlending.com for your pre-approval.

Highlight of programs available"

1. SBA Express Loans
A. Unsecured
B. Loan amounts from $5,000 to $350,000
c. Interest rate approximately 6%
D. No up-front fees
E. 10 year fixed term
F. Minimal Paperwork needed allowing for normal closing time less than 30 days

2. Traditional SBA Loans
A. Loan up to $20,000,000
B. Require some type of collateral

3. Non-Traditional Loans
A. Start-up loans
B. No-Doc loans
C. Bad Credit loans

“Are my workers W-2 or 1099”

The IRS estimates that 91% of the people who are paid 1099 (called contract labor) are employees and should be classified as W-2. This is a serious infraction and if you are caught misclassifying employees, the fine is substantial. You will findhttp://www.firstfinancialbr.com/below a list of questions that will help you determine whether those people are contract labor or employees:

The IRS has developed a list of 20 factors it uses to determine whether a worker is an employee or a subcontractor:

1. Does the business require the worker to follow their instructions on how work is to be performed? If yes, this indicates employee status. An independent contractor will generally decide how the project should be completed and use his own methodology.

2. Does the business provide training to the worker? If you’re hiring a person for a job they are not trained for and providing them with the training to carry it out, that person is probably an employee. There can be exceptions based on the facts and circumstances.

3. Are the worker’s services a substantial or integral part of the business? This indicates employee status because it indicates the business maintains direction and control over the worker.

4. Does the business require the worker to perform all services personally? Independent contractors may have their own employees or at least should have the option of hiring other contractors to perform their work. Agreements for personal services indicate employee status.

5. Does the business hire, supervise and pay the worker’s assistants? If so, this is a strong indication of employee status. Let the independent contractor pay his or her own assistants.

6. Does the business have an ongoing relationship with the worker? This one is a stretch since many businesses maintain lifelong relationships with contractors whose work they like. But the IRS views this as an indication of employee status.

7. Does the business set the worker’s schedule and hours? Independent contractors generally set their own work schedules. If the contractor must work certain hours because of required interrelationships with your employees or to take advantage of down time for computer-related work, document these facts.

8. Does the business require the worker full-time? This is an indication of employee status because the business controls their availability and prevents them from working on other clients.

9. Does the business provide the workspace? Contractors who work off-site are more likely to be classified an independent contractor.

10. Does the business determine the order or sequence in which work is completed? Indicates employee status. If specific schedules are required, document them in the contract with the reasoning for doing so.

11. Does the business require oral or written reports? The IRS believes regular written or oral reports detailing the work completed indicates employee status. In reality, this is, and should be, expected from independent contractors as well.

12. Does the business pay by the hour, week or month? This indicates employee status. See our comments at the end of this article on this issue.

13. Does the business pay expenses? This is an indication that the business is directing the Independent contractor’s business activities. Make sure the independent contractor pays the expenses and bills you for reimbursement.

14. Does the business provide tools and equipment for the worker? Independent contractors would normally provide their own tools and equipment.

15. Does the worker have a significant investment in their own facilities? If the contractor maintains his own office space, computer equipment, tools, etc., this is a good indication that they are an independent contractor.

16. Does the worker have profits and losses independent of the business? This is an indication that the contractor is running his own bona fide business and is an independent contractor.

17. Does the worker have multiple clients? Working with multiple clients generally indicates independent contractor status. If yours is the only or predominant business, then they are an employee.

18. Does the worker market their services to the general public? Employees do not generally market their services to the general public.

19. Does the business have the right to discharge the worker at any time? This suggests employee status. An independent contractor would only be discharged for failure to meet contract specifications.

20. Does the worker have the right to quit at any time? An independent contractor is under contract and cannot quit until the project is completed.