• Use Credit Cards the Right Way – Improve Your Credit Score

    Can you think of someone you know who doesn’t have a credit card? …I can’t! On a daily basis we see more plastic than cash. But that little plastic card can do a lot of damage. Use credit the correct way to grow your score!

    An excellent credit score is a sign of responsible financial management. Mortgages, credit cards, auto loans and even cell phone services add depth to an individual’s credit history and can increase a credit score. Scores influence whether a loan or line of credit is approved, the higher the score the better the chance of securing a mortgage, loan or credit card.

    One common misunderstanding of establishing excellent credit is that zero balances on credit accounts will earn raise a score. But that’s just not the case. Lenders want to know that you can actually manage your account and, as grand a gesture is of paying off the balance every month, it doesn’t reflect an ability to handle debt. So, even if you have the financial stability to pay the balance off each month, allow one or two accounts to carry a small balance to increase the visibility of responsible money management.

    Good credit comes from handling a variety of loans and accounts. It’s impacted by how you handle fixed payments, like your car and mortgage payments. But when it comes to credit cards, there are several points that need to be addressed to help secure a healthy score and history:

    Inactive Credit Cards – Should cards that are no longer in use be closed? The simple answer is ‘no’. An inactive card has no negative impact by sitting in a desk drawer; plus, older accounts have more value than new ones. In fact, if you cancel a credit card, you may see a drop in your score because your total credit limit will be reduced… an important factor in determining your credit score. You want to keep your allowable credit as high as possible, which means inactive cards should remain open.

    Opening New Accounts – Opening a new credit card account does not have a negative impact on your score – unless you apply too often. Every time you apply for a new credit card or loan, the application generates a hard inquiry on your credit report. Too many inquiries may indicate financial trouble and result in the denial of your application and raise your credit score.

    An Important Balancing Act – Carrying a balance on your account is not all bad, unless you are nearing the credit limit. You will see a negative effect on your score, if you max out the balance. You should never use more than 50 percent of your credit limit; a lower percentage is always better. For example, if your credit limit is $2,000, you shouldn’t have a balance of more than $1,000.

    Credit Increase: Pro or Con – Asking for an increase on your credit limit may temporarily lower your score. The review process that occurs prior to an increase in your credit line may cause a dip in your score. However, an increase in your credit limit may raise the ratio of available credit to debt and raise your score.

    Keep Them Active – Financial experts suggest that consumers use every active account at least once every six months. It only takes a small purchase to keep an account open and maintain the credit limit.

    The importance of maintaining credit card debt responsibly cannot be understated. Late or missed payments are an absolute deal breaker when looking to earn an excellent credit rating. More than any other type of loan, credit cards reap the biggest boost to your score when managed well.

    Interested in accepting credit cards for your business? Visit our Merchant Services Informational Page >

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  • Innovative Lease Chatter

    Innovative Lease Services Team Members New Certified Leasing Professional Certifications

    Innovative Lease Services, Inc. (ILS) is ecstatic to share three more of their financial professionals have earned their CLP, Certified Leasing Professional certification. Innovative Lease Services, Inc. ranks amongst the “Top 9 Companies with Employees Who are CLP’s,” based upon having four or more CLP’s.

    Innovative Lease Services, Inc. Certified Professionals:

    • Tamara McCourt, ILS’s Director of Credit, CPL certified 2004
    • Andrew Nere, ILS’s CEO, CPL certified August 2013
    • Neil Clark, ILS’s VP Sales, CPL certified August 2013
    • Kristan Parker, ILS’s Senior Account Manager, CPL certified August 2013

    Andrew Nere, Neil Clark and Kristan Parker studied at the ILP, Institute for Leasing Professionals in Irvine, California prior to the certification exam.

    The CLP, Certified Leasing Professional designation is the highest standard in the commercial equipment leasing and finance industry’s in the world. CLP’s are acknowledged as having an exceptional reputation, experience and mastery of the “CLP Body of Knowledge.”

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  • Innovative Lease Chatter

    Tamara McCourt is Innovative Lease Services New Director of Credit

    Innovative Lease Services, Inc. (ILS) has selected Tamara McCourt as the new Director of Credit for the company. Formerly the Credit Manager for ILS, Ms. McCourt started with ILS in May 2012 and immediately reorganized the Credit Department, both adding capacity and expanding upon existing relationships. As part of her initial overhaul, Tamara created a training infrastructure at ILS to help enable all departments.

    “ILS is extremely fortunate to have an asset like Tamara McCourt as part of our team. Tamara has vast experience in all facets of the Equipment Financing and Working Capital businesses. As Director of Credit, Tamara will oversee the continued expansion of our credit processing infrastructure. With her experience in Operations, Tamara brings a unique perspective to the operation of the credit department. Indeed, ILS has already seen a marked increase in the number of approvals and a decrease in the processing time. As the core mission of ILS is to enable the success of Small and Medium sized businesses, Ms. McCourt is their chief advocate in getting approved for the financing they need.” -Andrew Nere CLP, CEO

    As a Certified Lease Professional and Level 6 Credit Executive (NACM-WA), Ms. McCourt has a solid background in the Financing industry with over 21 years of experience. Tamara is very active in the industry including her involvement as a member of the NEFA Conference Committee, and guest writing for publications for NEFA, Newsline and NACM. Tamara holds a degree in Credit and Financial Management from Dartmouth University.

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  • ILS Hires Angela Caraglio as Marketing Coordinator

    Innovative Lease Services, Inc. (ILS) is thrilled to welcome Angela Caraglio as the newest member of the team. Ms. Caraglio will spearhead the company’s Marketing Department.

    Ms. Caraglio joins the company with 3 years marketing experience, most recently as Marketing Coordinator for G.K. Skaggs Inc., a purveyor of premium beverages. Ms. Caraglio managed G.K. Skaggs’ Social Media Marketing, Email Marketing, Public Relations, Advertising, Graphic Design, Market Research and Event Planning. Leveraging this broad experience, Ms. Caraglio will apply her expertise to creation and execution of the ILS marketing plan.

    “ILS is fortunate to have found such a great fit for our team in Ms. Caraglio. Angela brings both the vision to create the marketing plan as well as the expertise to see it to fruition. As ILS continues enable the success of the small and medium sized business owner, we need to have the means to make them aware of our financial resources. To this end, Ms. Caraglio is invaluable to our mission. Indeed, in her first week, Angela jumped right in and began spearheading the next big project for the company, a total revamp of the ILS website.” Andrew Nere CLP, CEO

    You may contact Marketing Coordinator, Angela Caraglio by email angela@ilslease.com or call 800.438.1470.

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  • ILS Promotes CLP, Neil Clark as Vice President of Sales

    Innovative Lease Services, Inc. is honored to announce Neil Clark’s promotion from Sales Manager to Vice President of Sales for the company. In August of this year, Neil Clark received his Certified Leasing Professional (CLP) Certification, which is recognized worldwide and achieved by a very small percentage of the leasing community. Nora Nere, Mr. Clark’s successor will transition from Sales and head up the logistical side of the business as Vice President of Operations.

    The overview of Mr. Clark’s new responsibilities include; Managing and supporting a sales team to deliver financial products to companies of all sizes. Additional Neil will work with the operations and marketing team to facilitate transaction growth.

    Mr. Neil Clark has managed the ILS Sales Team for 4 years and has worked with the company for 15 years. Neil earned his Bachelor’s degree in Hospitality Services and his Master’s Degree in Human Resource Administration from Central Michigan University. Prior to joining ILS, Neil worked for Yum Brands and Taco Bell Corporation as an Area Manager, responsible for managing the operations of 11 company restaurants. In an interview with Neil discussing his own personal business and how it relates with the nature of ILS’s business,

    “Making the transition from the restaurant business to helping small business owners was simple. The customer service principles still apply; offer a great product and people will continue to do business with you. As an owner of a restaurant in Nashville, TN, the experience has given me more insight to not only running a business, but who is going to support your efforts. When banks said ‘no’ to equipment leasing, leasing companies said ‘yes’. I so am proud to be able to help business owners grow; it leaves you with a great sense of contribution.”

    President Jan Jamison and CEO Andrew Nere are very confident Neil Clark will exceed all expectations and lead the Sales Team to success.

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  • Innovative Lease Services Doubles Originations 2012 vs. Previous Year

    Resurgence in demand for Capital and Financing from Small Businesses provide opportunity for Private Lenders

    CARLSBAD, Calif., — Innovative Lease Services, Inc. (ILS) announces they have reached a milestone and have surpassed their 1,500th customer in 2013 with processed applicant requests in excess of $95 million in Small Business Equipment Financing and Working Capital, doubling figures from the previous year.

    The year over year growth is in excess of 100% and cements the overall sense of confidence returning to the marketplace, at least on part for small business Owners. Since the onset of the Great Recession, ILS has become a Leader in the commercial lending market-place by helping to fill the void left by Banks slashing their lending to small businesses.

    “With small business owners feeling more confident in the economic recovery, we have seen a marked increase in overall applications and originations, Andrew Nere, CEO, said. “In addition to the business owner who is replacing worn equipment and/or adding capacity, we have also seen an increase in Working Capital requests. Of particular note is the fact that approximately 40% of our applicants this year are new business start-ups seeking financing to begin operations. “

    To accommodate the growth, ILS is moving into a new facility in October of 2013 and will be immediately adding the necessary staff, including financing professionals, documentation & funding managers, and administration personnel. With the increase in capacity from the expansion, ILS projects servicing a total of over 2,500 customers and processing over $150 Million in Small Business requests by the following quarter.

    Innovative Lease Services, Inc. (ILS), founded in 1986 and headquartered in Carlsbad, California is a leading provider of Commercial Equipment Financing for businesses in all 50 states. ILS specializes in Equipment Leasing, Equipment Financing and Working Capital to small and mid-sized businesses in all 50 states and Canada. ILS is accredited by the Better Business Bureau (BBB), and are longstanding members of the National Equipment Finance Association (NEFA) and the National Association of Equipment Leasing Brokers (NAELB) organizations.

    Article can also be found on Leasing News, http://leasingnews.org/archives/Sep2013/9_05.htm#innovative

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