Lending a Helping Hand

They deal with both secured and unsecured loans. Irrespective of the type of loan that you are looking for they try to give you the best offers on the loans. They get your loan application approved by one of their lending partners. Be it Small Business Administration loan or a Commercial loan, with them the process of getting a loan is extremely easy and hassle-free. Their vision is to assist more and more people to get their loans instantly approved.

They are well-known as SBA loans broker in New Jersey. When u apply for an SBA loan the SBA participates by guaranteeing a portion of the loan amount. This helps the small business get the loan which it may otherwise have not been qualified for. The guarantee from a government agency enables the business to qualify for the loan. The SBA acts as a loan broker based on factors such as how the company earns its revenue, the background of its owners, and also where the business operates.

SBA loans broker in New Jersey

The 7(a) Loan Program is SBA’s most common loan program. SBA loans broker in New Jersey and SBA Loans broker in New York offer nine different types of 7(a) loans. Therefore each business may find that one 7(a) loan is better suited for it than another

Some basic factors that qualify you for a loan are:

Your business must have fewer than 500 employees.

Your yearly revenue must have been less than $7.5 million on average for the last three years.

Your net income must be under $5 million (after taxes and not counting carry-over losses),

your tangible net worth must be less than $15 million.

The different types of SBA 7(a) loans are: Standard 7(a),7(a) small loans, SBA Express, Export Express, Export Working Capital, International trade, Veteran’s advantage, and CAPlines.

Commercial loans

The term Commercial loans is a generic name used for various types of loans used for business purposes.

Top Commercial Loan Brokers in New Jersey

MBS & Finance Corp operates in New York, Edison, and New Jersey. It is one of the Topcommercial loan brokers in New Jersey.

Some of the uses for a Commercial loan are typically as follows:

Commercial loans are generally used to fund large capital purchases or to finance operational costs that are associated with business expansion or acquisitions. Commercial financing can be used in a variety of ways and is increasingly classified as general-purpose loans.

Operational expenses

Operational expenses (also known as OpEx) are associated with ongoing costs a company pays to operate its core business activities.

Capital Expenditures

Capital expenditures (also known as CapEx) are funds used by companies to acquire, upgrade and maintain physical assets. Common capital expenditures may include the purchase of new equipment, upgrading business technology, facilities and inventory, and of course, real estate.

How ELSS should be chosen to complement existing portfolio

Usually, we all look for investment opportunities that can help us build an adequate sum of wealth, get regular returns, and/or save taxes. There could be several investment schemes in the market to save your taxes, but ELSS i.e. Equity linked saving schemes is a one – stop solution for all your tax saving and wealth creation needs. Usually 80 % of asset allocation needs to be in equity funds. ELSS SIP is also an easy option for investing where the minimum investment amount is Rs 500.

ELSS funds are also called tax saving schemes as they offer tax exemption of up to Rs. 150,000 from your annual taxable income under Section 80C of the Income Tax Act and comes with a three-year lock-in during which they cannot be redeemed or switched. Among other tax saving instruments, ELSS is the scheme with the shortest lock-in.

Six Key factors To Consider While Choosing ELSS Fund

Portfolio composition

A major portion of ELSS funds are equity funds that invest their major chunk into diversified equity or equity-related instruments. The Fund manager has the flexibility to allocate the stocks as per his calculations, research basis of the market conditions, objective of the fund, and his own risk-taking capability to achieve that objective (i.e. Large Cap / Mid Cap).

You can review what is the portfolio composition of the fund based on market cap and stability of its investment patterns. Prefer to choose the funds that have steady investment pattern and that stay true to its label. Choose quality of companies invested in while assessing the ELSS schemes. Evaluate the stocks concentration in the portfolio and percentage of top five stocks in the portfolio. Thoroughly check all allocation made to large cap / mid cap / small cap companies in the ELSS tax -saving schemes.

Risk Involved and Expected Returns
ELSS is an Equity Linked Scheme and it requires you to identify your risk appetite.

Risk and returns on investments are interlinked. One must ensure to check the risk and returns involved while choosing ELSS funds. Some Mutual Funds could be giving higher returns but risk involved also could be equally high. Therefore, the key to decide your risk appetite while assessing a suitable fund for you. Risk involved can also be calculated from ratios like Sharpe Ratio which is a measure of risk-adjusted return.

Return Expectation of the ELSS Funds
While selecting the ELSS mutual fund, it does not make sense to chase returns. Last one-year’s performer may not be consistent next year. Hence, investor must review the trend of the fund in respect of rate of returns delivered. Also, one should consider the rate of return as well as the consistency with which those returns are delivered. Select the scheme based on your preference with the portfolio style and strategy. Make sure to analyze the records of the fund for a period exceeding 5 years. This is an ideal duration, as the fund goes through multiple cycles of ups and downs in the market. This helps the investor to track the past performance of the particular scheme.

Expense Ratio of ELSS Funds
Investor should choose the fund with low or moderate expense ratio along with the higher rate of returns.

Fund Manager’s performance
Fund House
Examine whether the fund manager is able to deliver consistency of performance across market cycles
Check fund manager’s profile and his/her record not just in this fund but other funds he/she manages
This is an important factor to select the Tax- Saving fund. Investor must consider the asset management company’s investment philosophy, do a deep background check of its financial stability and company policy before investing

In order to understand how to allocate to ELSS funds, compare ELSS to the other equity funds held, so that there is no duplication in style and portfolio composition.

Slack Pricing: Free vs Paid – Is it worth paying for Slack ?

Originally Published at Troop Messenger

“You can use the free version of Slack for as long as you like and there’s no limit to the number of members who can be invited.”

That’s what Slack’s pricing page reads once you get started. In all their PRs and advertisements’, Slack has time and again claimed that their free tier offers an unlimited number of users.

In short, Slack unapologetically mentions that there is no limit. You can add ‘as many people’ as you want to.

But is it really true?

Table of Contents

1. Is Slack Misleading
2. Should you Pay for Slack
3. Tearing Down Slack’s Pricing
4. Freemium Plan
5. Standard Subscription
6. Plus Subscription
7. Enterprise-Grade

Is Slack Misleading people about its Free ‘Unlimited Plan’?
We came across a couple of Slack users who have reported that there’s a limit with a freemium plan, despite what Slack says.

For Example, David Chen, who wanted to build a massive Slack community of 10K+ users, found that the service starts fizzling out around 5000 users, and poops out completely after onboarding 8,500 users.

Quincy Larson added 8462 users to his Slack channel, and after that, the channel stopped accepting new users.

8462 sure is a great number for a medium-sized community – but it’s a limit, which Slack has disguised so far, and done nothing to disclose.

Users hoping to build a 10k+ community through freemium plans should look for a Slack alternative.

This brings us to our next question:

Should you Pay for Slack?
Slack is a great office collaboration tool, without any doubt. For many businesses operating virtually, Slack has offered benefits they can’t live without.

Slack is where work happens. It has the most user-friendly UI and UX, and it is relatively easier to navigate through.

And then, to top it all, Slack offers 1000s of integrations and apps. In a literal sense, it is a process automation heaven. If you implement enough apps, you’ll be able to complete 95% of your work requirements inside Slack.

That’s cool, right?

But here’s the thing – there are as many as 20+ Slack Alternatives that are offering similar features.

Some of these alternatives are cheaper than Slack while some others are more expensive.

Since most of the Slack alternatives are doing pretty much the same job, it is natural to wonder whether or not it is worth paying for Slack?

And that’s the intent behind writing this article. Sit tight and read as we tear-down slack’s pricing plans, and help you make a better decision:

Tearing Down Slack’s Pricing: Freemium Vs Paid Plans
The secret of Slack’s pricing model is very much evident on their pricing page.

Slack Pricing Teardown of Freemium Plan Model :

Ideal For: Individual Use, Small Groups

Pricing: $US0

When a new customer joins Slack, they have multiple options to choose from. It is free as long as you want a Slack Workspace with an unlimited number of people.

In the free slack pricing plans, you don’t have to pay a penny but you are restricted with limited features. Onboarding your team on Slack for free sounds cool. But this freemium plan has limitations:

1. 10k searchable messages:
This may seem enough for very small teams or members who don’t use team chats that often. But even for small-sized teams, the 10k limit is insufficient.

If you’re a team of 10 people, who generate about 2k messages a week, chances are you won’t be able to restore any of the conversations after a month.

Imagine you need to report a document you shared with your colleague for two months, but not being able to refer back to it because you’ve reached the 10k

limit. You’ll have to upgrade to a standard plan to reveal search message history.

2. 1-to-1 video calls:
If your slack workspace works on the freemium plan, forget about conducting team conferences because you cannot do more than 1-to-1 video calls.

You cannot host big meetings or webinars. Now that can be a real bummer!

3. 10 apps & integrations
Integrations make Slack better and more powerful than others. Slack has been constantly adding new tools and with paid plans, you Slack integrates with almost every popular tool.

With Freemium, you’ve access to 10 integrations. If you want to use the 11th app, you’ll have to delete old integration and stay in the limit of 10 apps.

4. Two-factor authentication
Whether you choose a freemium or a paid plan, Slack won’t let it’s users compromise with security. For an added security layer, all Slack users can turn-on 2FA for their Slack account.

This means that if your password is stolen or compromised, you’ll have peace of mind that only you’ll be able to log in again.

Freemium Plan Verdict: If you can compromise with limited searchable messages and limited integrations, Slack can be a great pick for small-sized teams.

Slack Pricing Teardown of Standard Subscription Model

Ideal For: Small and Medium-Sized Businesses

Global Pricing: $US6.67 per active user per month billed annually. Or $US8 per active user per month billed monthly.

Pricing (For Indian Customers): $US2.67 per active user per month billed annually Or $US3.20 per active user per month billed monthly.

If you can spend $US2.67 per active user per month, you can get rid of the above limitations, and enjoy additional features. You can avail benefits like Unlimited message archive, Group calls (up to 15 participants) with screen sharing, Unlimited apps, Guest accounts, and shared channels.

1. Full archive: There’s no 10k messages limit with the Standard plan. Your team’s entire message history is now in one place and the entire conversation is searchable.

2. Unlimited apps: Again, Standard Subscribers of Slack educational pricing can integrate applications beyond the number 10. Integrate Slack with as many as 1000+ tools from different categories and bring all your work into one place. You don’t have to miss out on anything.

3.Google authentication: A standard plan makes it easy for Slack users to log in to their Workspace. Hence, it reduces the password load. Those who use G Suite can have their team members sign in to Slack Workspace using their existing Google sign-on.

4.Guest access: Slack’s Standard pricing plan makes it easy for companies to connect with vendors, retailers, and people from outside the company. Such people can be given guest access and invited to one or multiple Slack channels.

Additional Benefits of Standard Plan:
Custom retention policies
Forward emails into Slack
Priority support
Group voice and video calls
User groups
Custom profiles Screen sharing

Slack Pricing Teardown of Plus Subscription Model
Ideal For: Large-Sized Businesses that require advanced admin control

Global Pricing: $US12.50 per active user per month billed annually.

Pricing (For Indian Customers): $US5 per person per month billed annually. Or $US6 per person per month billed monthly.

Slack has a Plus Plan for large businesses and companies with a requirement of business-level features that can help the teams grow. Apart from all the benefits of a standard subscription, Slack’s Plus users can avail exclusive features like:

Keep a little, keep a lot: With a plus plan, Slack users get the option to customize their archival preferences and message retention. There’s more to control as compared to the standard plan.

Though custom message retention settings, they get a flexible option when it comes to deciding how many messages you want to keep, and how much history you want to delete. There’s also an option to keep a tab of deletion logs and message edit.

1. Data exports: Data export feature is great for companies who have got legal obligations to archive messages, or businesses operating in a regulated industry.

Team admins of leaders, on Slack Plus Plan, can request access to the entire team’s message history. The history can be either direct messages between team members or conversation in the private channels.

2. SSO and provisioning: With Plus plan, you get to Integrate Slack workspace with your existing SAML 2.0 identity provider. This is suitable for companies that wish to ensure secure access to their team.

Apart from SAML, Plus members also have a built-in connection to many SSO providers. There is also an option to use a custom or own SAML solution.

3. 99.99% uptime: With 99.99% uptime, Slack is operational irrespective of the time zone. For the plus subscribers, Slack assures providing a guaranteed uptime, an industry-leading standard of server availability, and a financially backed service level agreement (SLA).

4. 24/7 support: With the standard plan, you get priority support, which means your queries will be catered before the queries made by freemium subscribers.

And with the Plus plan, you can reach the support team anytime, and have access to 24/7 coverage and guaranteed response, in the shortest time possible, from their customer experience team.

Slack Pricing Teardown of Enterprise-Grade Model
Ideal For: Very Large Sized Businesses that require advanced admin control Businesses operating in highly regulated industries Enterprises requiring unlimited workspace with a centralized control

Pricing: There’s no standard or flat rate for slack enterprise grid pricing. It depends on the specific requirements and other factors. You’d need to contact the Slack Sales team to get an estimate.

1. Scale with unlimited workspaces

Considering the nature of large enterprises, a single Slack workspace might be insufficient.

Hence, Slack for business pricing is specially designed to provide multiple teams of an organization with a focused and separate place to work.

Unlimited workspaces in Slack provide teams and their members access to the people, appropriate information and apps which matter the most to their projects.

2. Build bridges between teams

With an Enterprise plan, businesses can centralized control to create communication structures. The structure mirrors the way your organization works.

Channels from different workspaces can be shared when needed, and you can also collaborate with outside vendors whenever required.

3. Find information across your company

As an admin of all workspaces of your organization, you can also enable members of any team or selected workspace to find the data, content, information, and people they need to get work done with.

You can provide them with access to direct messaging, organization-wide search, and announcement channels.

4. Fine-tune your security settings

From a single view and centralized control, the chief administrators of all workspaces can manage security, structure, policy, and compliance for the whole organization.

The same can be done for specific workspaces. In short, the organization admin has complete control of the security and compliance of any or all workspaces.

And If you are looking for a cheaper Slack Alternative…Like I mentioned earlier, there are as many as 20+ Slack Alternatives that are offering similar features.

Some of these alternatives are cheaper than Slack while some others are more expensive. One of the best Slack Alternatives I can recommend is Microsoft Teams and Troop Messenger.

Conclusion:
If you’re looking for a cheaper team communication tool that helps you automate your workflow as well, then Troop Messenger can be a decent choice.

By the way, you can try out Troop Messenger right now. For free! Just sign up and you get to Experience a 30-Day Enterprise Free Trial.

Final Words:
Slack pricing tiers aren’t the best, but with the features and extensive integration it has got to offer, it’d be unfair to say it’s not worth it.

The real power of Slack lies in its integrations and apps. With Slack, you can do so much more. If your work requires team collaboration, you should pay for Slack, because eventually there’s so much for you and your team.

Slack and its integrations will save your team time and increase productivity. So if you are looking to improve the time efficiency and productivity of your team, Slack is the right tool.

And if you’re looking for a communication tool, then you can opt for Troop Messenger, and avail similar benefits.