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How You Will Should Deal With Managing Your Reputation

Managing your small business reputation effectively is easier said than done. It really takes one bad review from your disgruntled customer to tarnish your company's reputation. When that occurs, you must know how to undertake damage control. This can be all part of effective reputation management all company owners ought to know about. Read on for additional information.

Monitor social networks. Over half of the consumers around expect the brands they buy to concentrate on and address comments posted directly to them via social websites, as stated by Arnold Worldwide. Therefore, be sure to monitor the comments regarding your business. Because various other businesses are not quite that vigilant, your response time will help you to be noticeable.

To help increase your internet presence consider using social media. Sites for example Twitter, LinkedIn and Facebook will help you build business presence both offline and online. To make use of social media marketing effectively you should post statuses regularly. When posting information by way of a social networking website, use keywords, and provide readers information which they actually need.

Host contests to help bolster your reputation. This is especially important if you have received a poor review. A competition can provide plenty of positive specifics of your enterprise which will help increase your company's exposure online. This method will even help boost your pagerank on Internet search engines like google.

Build a email list. Make registering for your subscriber list fast and easy. To assist bolster you subscriber list give a coupon or other incentive to encourage joining. You can improve your mailing list by providing a coupon for referrals, as an additional benefit. This may be a free small product or even a cost saving coupon.

Invest some time and think carefully before answering any complaints. By maintaining cool and thoroughly thinking of how you will will respond online are able to keep your reputation intact. Before posting a reply to a complaint, read your answer repeatedly. When possible, provide an employee read the solution to ensure it can be appropriate.

It is best to make sure you provide them with credit for that if you are planning to use anyone's ideas. Everyone around can learn a little from others, so giving due credit will show people that you don't think you happen to be above that. This is certainly a terrific way to earn their respect.

A lot of people are simply just impossible to please reasonably. Do what you are able to make them happy if you feel your customer features a irrelevant or untruthful complaint. As a business person, sometimes you need to suck your pride and take into consideration how your customer or client is obviously right.

Each time a customer complains a product or service that you company offered, it is simple so that you can jump into defensive mode. And obtain more information in regards to the complaint before you accomplish that control yourself. You are able to smooth out the situation better by doing this, and you may obtain a better track record of your business.

Try to followup with the customers right after they create purchases. This makes it more likely that they can express concerns along with you as opposed to sharing them all over the Internet. You can use this as an opportunity to resolve the situation before it gets out of hand.

When a customer complains a product or service that you just company offered, it is easy so that you can jump into defensive mode. However, control yourself, and have additional information in regards to the complaint before you accomplish that. You can smooth out your situation better using this method, and you will probably achieve a better history of your organization.

In case you have an organization, it is essential that you simply begin a process to handle reviews that are negative. Always reply to negative reviews properly and quickly otherwise, your silence can come across as indifference. Also, it is just as essential to acknowledge any positive reviews with appreciation and reinforcement.

Take care together with the information you share via the Internet. You don't understand how it'll be used in the foreseeable future, so watch out. Easier to be cautious than misunderstood.

A reputation could be damaged by old content still arriving searching engines, so be proactive in getting it removed. Send a request for content removal to Google and also other search engines. Your request will likely be granted and reviewed for legal reasons, concerns over personal information, or maybe previously removed content articles are still appearing on account of an old page not being crawled recently.

Learn which review sites are popular, and check out your enterprise on those sites first. These represent the sites that make the most traffic. Exactly what is printed in them is usually fed for some other search engines. So, you would like to ensure that any negative reviews or comments on your company be addressed appropriately.

Always go that step further once you cope with your clients. Good customer satisfaction brings about good reviews. The greater positive reviews you get, the greater your company reputation becomes. When you have plenty of 5-star reviews, the occasional one-star review becomes less significant for your overall corporate rating.

A crucial aspect in reputation management is claiming your brand name, especially on the net. Make certain that not one other business or individual can make use of your reputation to improve their own agenda or even to discredit you. Use only one name across your online venues, including social media marketing, and secure any obvious variations of it a competitor could take advantage of.

When someone hires your company to perform a service, search for methods to go far above what they are asking of your stuff. It's easy to do and definately will hugely benefit your reputation. their and they also friends will likely become regulars.

Each time a company's reputation is damaged from a bad review or a failed product launch, it might be detrimental for the business. A damaged reputation should be repaired quickly prior to the damage becomes extensive. Remember these tips on managing your company reputation well. You will notice your organization grow eventually.

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The small business AMT exception.

The Taxpayer Relief Act of 1997 simplified corporate taxpaying and reporting for small businesses by exempting them from alternative minimum tax (AMT) if the new rules are met. These rules include an average annual gross receipts test that seems straightforward on its face. However, on closer inspection, the new rules are fraught with problems, such as when the "lookback period" begins for tallying average gross receipts. This article explains the new provisions and offers examples for corporations seeking to qualify for the AMT exemption.

The Taxpayer Relief Act of 1997 (TRA '97), Section 401(a), enacted a significant change to the corporate alternative minimum tax (AMT) system as it affects small businesses. Under new Sec. 55(e), effective for tax years beginning after 1997, the AMT is repealed for "small business corporations." According to Sec. 448(c) (1), a C corporation that had average gross receipts of less than $5 million for the prior three years is a small business corporation for this purpose. Further, a corporation that meets the $5 million gross receipts test will continue to be exempt from AMT as long as its average gross receipts do not exceed $7.5 million. A corporation that fails to meet the $7.5 million gross receipts test will be subject to AMT prospectively only.

This article discusses three major aspects of the new law: (1) the entities to be aggregated in determining gross receipts (including use of a short tax year and/or predecessor companies); (2) use of the minimum tax credit (MTC) in a year in which tentative minimum tax (TMT) is zero; and (3) the fresh-start provisions that apply when average gross receipts exceed $7.5 million.

Sec. 448(c) Issues

Gross Receipts Test

New Sec. 55(e)(1)(A) provides an AMT exemption for corporations that meet the Sec. 448(c) $5 million average gross receipts test. The first issue is when the three-year lookback period for the test begins.

Start of lookback period: According to the TRA '97 Conference Committee Report, 1 the three-year lookback period for the $5 million average gross receipts test is tax years after 1994 (i.e., tax years 1995, 1996 and 1997); however, the General Explanation of Legislation Enacted in 19972 (Blue Book), states that that is erroneous and that the three-year lookback period includes tax years beginning after 1993 (i.e., tax years 1994, 1995 and 1996). This in itself is an issue that, without resolution, could trigger much litigation.

New entity: A newly formed corporation in 1998 or thereafter not deemed to stem from a predecessor corporation is automatically exempt from AMT for its first tax year. If in the first tax year, the corporation's gross receipts exceed $7.5 million, the corporation will lose its AMT exemption starting in its second tax year. The exemption continues to apply only as long as average gross receipts remain at $7.5 million or less.

What happens if a new entity results from a tax-free spinoff of a division, branch or single-member limited liability company (LLC) in a D reorganization or Sec. 355 corporate division? If' it is not viewed as stemming from a predecessor company or being part of an affiliated group, it would be AMT-exempt in at least its first year of operation. Sec. 381 does not apply to the spinoff of a controlled corporation (because the distributing parent keeps all tax attributes, except earnings and profits and accumulated adjustments account); thus, the predecessor company rule should not apply. If the corporate division was non-pro rata, the controlled group rules of Secs. 52(a) and 1563(a) would likely not apply. If the new entity were to lose its AMT exemption in the future, the new Sec. 55(e)(3) anti-abuse rule (discussed below) would need to be considered. If' the distributing parent were exempt from AMT, the AMT and adjusted current earnings (ACE) rules (discussed below) would apply prospectively.

Short tax year: Sec. 448(c)(3)(B) and Temp. Regs. Sec. 1.448-1T(f)(2)(iii) require gross receipts for a short tax year to be annualized in computing gross receipts.

Example 1: X Corp., formed in 1998, had the following gross receipts:

Year Gross receipts

1998 (six-month tax year) $3,000,000

1999 $3,000,000

2000 $4,000,000

2001 $17,000,000

For 2001, X meets the $5,000,000 average gross receipts test, because the average gross receipts in 1998-2000 were only $4,333,333 (($6,000,000 + $3,000,000 + $4,000,000)/3). However, the average gross receipts test is not met for 2002, because average gross receipts for 1999-2001 exceed $7,500,000 (($3,000,000 + $4,000,000 + $17,000,000)/3). Thus, X is AMT-exempt in 1998, 1999, 2000 and 200l, and not AMT-exempt starting in 2002.

Example 2: The facts are the same as in Example 1, except that X's gross receipts are only $1,000,000 in 2002. Is X AMT-exempt for 2003, because average gross receipts were under $7,500,000 in 2000-2002 (($4,000,000 + $17,000,000 + $1,000,000)/3)? According to Sec. 55(e)(1)(B), X is once again not exempt; thus, the AMT exemption is lost starting in 2002 and cannot be reacquired.

Example 3: Q Corp.'s gross receipts were $6,000,000 in 1995 (its first year of existence), $5,000,000 in 1996, $8,000,000 in 1997 and $3,000,000 in 1998. Q is not AMT-exempt starting in 1998, because its average gross receipts in 1995-1997 exceeded $5,000,000 (($6,000,000 + $5,000,000 + $8,000,000)/3).

Other questions: What if a corporation was a large corporation in the late 1980s and early 1990s, but downsized and averaged less than $5 million for the lookback period? Such a corporation would seem to be eligible for the AMT exemption. If a personal service corporation (PSC) had more than $5 million of average gross receipts for the prior three years, it would still be able to use the cash method of accounting, but would not be exempt from AMT, under Sec. 448(b)(2).

The Small Business Job Protection Act of 1996, Section 1308(a), allowed an S corporation to own 80% or more or a C corporation. If an S parent created a C subsidiary, would the parent's gross receipts be counted in determining whether the subsidiary was AMT-exempt? The answer should be "yes," because Sec. 1563(a)(1) would apply.

Controlled and Affiliated Groups

Sec. 448(c)(2) requires all persons treated as a single employer under Sec. 52(a) or (b) or Sec. 414(m) or (o) to aggregate gross receipts for purposes of the $5 million gross receipts test. Sec. 52(a) uses the controlled group definition under Sec. 1563(a) (with modifications) to determine whether receipts have to be aggregated.

Under Sec. 1563(a), controlled groups are affiliated companies in either a parent-subsidiary relationship (Sec. 1563(a)(1), with the parent owning more than 50% of the subsidiary's vote and value), or a brother-sister corporation relationship (Sec. 1563 (a) (2)).

Letter Ruling (TAM) 9809001(3) is a recent example of an affiliated service group. In the ruling, an architectural S corporation was owned by a father and son. An unrelated engineering PSC was owned by two other individuals. The two companies marketed their architectural-related services to the public. The IRS held that these companies' gross receipts had to be aggregated under Secs. 414(m) and 448(c)(2).

The new AMT exemption provides another motive to use multiple entities that avoid Sec. 1563(a)(2) (brother-sister) status. If gross receipts can be spread among various unrelated entities, it is more likely that each entity will qualify for the AMT exemption.

Avoiding aggregation: Basically, the paired corporations must fail either of the following tests under Sec. 1563(a) (2) to avoid brother-sister status: five or fewer shareholders (e.g., individuals, estates or trusts) (1) own at least 80% of the vote or value of each company; and (2) own more than 50% of the vote or value by taking into account identical stock ownership in each corporation. For this purpose, if a taxpayer owns 5% of A Corp. and 55% of B Corp., his identical ownership is 5% (the lowest common denominator). If either test is failed and the companies are not deemed to be an affiliated group, the AMT exemption will be more readily available, because the gross receipts of the various companies will not be aggregated.

Example 4: M, T and C are a family consisting Or a mother and two adult sons. They are planning to establish a business projected to generate approximately $16,000,000 in revenue and $400,000 in taxable income in the first year. If they create one corporation and it performs as projected, it will be subject to AMT and its Federal tax liability will be $136,000 ($400,000 x 0.34). However, if M, T and C establish four roughly equally profitable corporations that are not part of a controlled group, the corporations will be exempt from AMT and pay a total Federal income tax of $89,000 ($22,250 x 4), a savings of $47,000. How can this be accomplished? If M owns 100% of A Corp.; Towns 100% of B Corp.; C owns 100% old Corp.; and M and T each own 50% of E Corp., none of these companies are brother-sister corporations under Sec. 1563(a)(2); see Exhibit 1 on page 483. If each company has less than $5,000,000 in gross receipts beginning in 1998, none would be subject to AMT. Alternatively, if more companies were desired, T and C could also own 50% each of F Corp., and M and C could each own 50% of G Corp., without triggering the brother-sister rules; see Exhibit 2 on page 483.

What Are Gross Receipts?

Temp. Regs. Sec. 1.4481T(f) (2)(iv)(A) defines gross receipts as total sales (net of returns and allowances) and all amounts received for services, plus any income from investments (e.g., interest, dividends, rents, royalties and annuities) and from incidental or outside sources; it also includes original issue discount and tax-exempt income. Gross receipts are reduced by the taxpayer's adjusted basis in capital assets and Sec. 1231 assets sold. Gross receipts do not include the repayment of loans or sales tax collected from the consumer.

Under Temp. Regs. Sec. 1.4481T(f) (2) (i), only the unrelated business income of a tax-exempt organization is counted as gross receipts. Thus, contributions and donations are excluded. Presumably, the same logic would apply to a foreign corporation doing business in the U.S.--i.e., only effectively connected income would be counted towards the $5 million gross receipts test. Thus, if a foreign company with $100 million of overseas receipts provided services to international clients that yielded $3 million of domestic revenue, it would be exempt from AMT.

Under Temp. Regs. Sec. 1.4481 T(f)(2) (ii), if a group of companies is required to aggregate its gross receipts, intercompany sales are eliminated before determining the aggregate gross receipts.

Predecessor entities: According to Temp. Regs. Sec 1.448-1T (f)(3), Example (5), when computing the three prior-years' average gross receipts, the receipts of any predecessor entity have to be included. Under that example, a sole proprietor's trade or business receipts were included when the business was incorporated in a Sec. 351 transaction.

Unfortunately, it is unclear when the tax adviser may encounter other "predecessor entity" situations. For example, is the incorporation of a partnership or an LLC with multiple owners subject to the predecessor rule? When multiple owners are present, attribution may be more difficult. For instance, if three corporate partners incorporate a joint venture, does predecessor status result; if so, to or from which entity?

According to Temp. Regs. Sec. 1.448-IT(f)(3), Example (3), a corporate partner's gross receipts are not attributed to the partnership. No guidance is given as to whether the aggregate or entity concept applies to the partnership gross receipts attributed to the corporate partner. If the entity theory applies, dropping businesses into a partnership would become an easy way to qualify for Sec. 55(e). Sec. 702(c), however, requires a partner to include in gross income his pro rata share of partnership gross income; presumably, gross receipts would also be passed through to the corporate partner.(4)


If a small corporation was in business prior to 1998, it may have MTC carry-forwards. MTCs are created when a taxpayer's TMT exceeds the regular tax for that year. MTCs may be used in a subsequent year to reduce regular tax (after credits), but not below that year's TMT. Under Sec. 55(e),TMT is zero each year the AMT exemption applies; how much of the MTC can be used in the years the exemption applies? Sec. 55(e)(5) provides that MTCs offset a company's regular tax up to $25,000, plus 75% of the regular tax liability in excess of $25,000. Thus, if a company's regular tax liability for an AMT-exempt year is less than $25,000, the MTC may offset all of it.

Example 5: W Corp. is a small business corporation exempt from AMT with an MTC carryover to 1998 of $40,000. Its 1998 regular tax liability is $22,000. The MTC will offset $22,000 of regular tax liability (resulting in no tax liability for 1998); $18,000 of MTC will be carried forward. If, in 1998, W had a research and development credit available, the regular tax liability would first be reduced by that credit before the MTCs were used.

Example 6: K Corp. has a $105,000 regular tax liability in 1998 and a $130,000 MTC carryover to that year. The MTC will offset the first $85,000 of regular tax ($25,000 + $60,000 [75% of $80,000 ($105,000 - $25,000)]), reducing the 1998 regular tax liability to $20,000; $45,000 of MTC will be carried to 1999.

Example 7: B Corp. has a $125,000 tax liability in 1998 and an MTC carryover of $60,000 to that year. B may offset a maximum of $100,000 ($25,000 + [0.75($125,000 - $25,000)]) of MTCs against regular tax; because B has only $60,000 of MTCs, it can use them to bring regular tax liability down to $65,000. There is no MTC carryforward to 1999.

Sec. 55(e)(5) dictates that the $25,000 minimum allowance must be allocated among members of a controlled group. Thus, the master allocation schedule of various tax limits among brother-sister or parent-subsidiary companies should be modified.

Losing the AMT Exemption

Fresh-Start Provisions

If a corporation was exempt from AMT and subsequently lost the exemption due to growth in gross receipts, it gets a "fresh start" as to AMT and ACE adjustments. Sec. 55(e)(2) applies most of the AMT rules on a prospective basis; under Sec. 55 (e) (4), only transactions occurring on or after the change date result in AMT adjustments, preferences and ACE adjustments. Thus, the AMT system can be viewed as newly enacted for the formerly exempt company on the change date.

For example, a corporation is nonexempt from AMT for calendar years 1987-1997, exempt under Sec. 55(e) from 1998-2000 inclusive, and in 2001, the prior three-years' average gross receipts exceed $7.5 million; thus, the corporation is again subject to AMT in 2001. The change date is Jan. 1, 2001, under Sec. 55(e)(4). In computing AMT for 2001, the company needs to consider the following issues on a prospective basis.

Depreciation: Sec. 55(e)(2)(A) does not mandate depreciation adjustments under Sec. 56(a)(1). Thus, no ACE adjustment is required for 1987-1997 or 1998-2000, under Sec. 56(g)(4)(A); only an AMT adjustment is required, for assets placed in service after 2000. This is a significant relief provision. The logical extension of this rule would be that, except for tangible personal property placed m service after 2000, the adjusted basis for AMT and ACE purposes is the regular tax basis.

NOLs: Under Sec. 56(a)(4), any prior-year alternative minimum tax net operating loss (AMTNOL) under Sec. 56(d)(2) will be ignored; instead, any regular tax NOL on Jan. 1, 2001 will become the AMTNOL. This could be disadvantageous, because 100% of past-year regular tax NOLs offset taxable income, while only 90% of alternative minimum taxable income (AMTI) can be offset by AMTNOLs. Also, regular NOLs could have offset taxable income during the exempt period.

Installment sales: Under Sec. 56(g) (4)(D) (iv), if an installment sale occurred in the corporation's AMT-exempt period but was recognized in a nonexempt period, no downward adjustment to ACE is available. Any installment sale occurring on or after the change date, and not covered by the interest charge rules, is subject to an ACE adjustment.

Negative ACE adjustments: From 1990 on, tax advisers have had to monitor closely the amount and order of positive and negative ACE adjustments. Under Sec. 56(g)(2)(B), any pre-change-year accumulated positive ACE adjustments are eliminated under the fresh-start rule. A negative ACE adjustment arising in 2001 would be lost forever, because no positive prior-year ACE adjustments exist.

Long-term contracts: According to Sees. 56(a)(3) and 55(e)(2)(C), only contracts entered into on or after the change date are subject to the ACE adjustment. Thus, residential construction contracts entered into before the change date are no longer subject to ACE.

LIFO inventory: Under Sec. 56(g) (4)(D)(iii), the difference between LIFO and FIFO must normally be added back to tentative AMTI to compute ACE. During the exempt period, no such adjustments have to be made. When the exemption is no longer available, the question becomes whether the negative adjustment applies to post-1983 positive LIFO adjustments or only to post-change positive LIFO adjustments. Given the final LIFO and ACE regulations, the answer would seem to be the former.

Private activity bond and exempt interest income: Under Sec. 57(a)(5), the acquisition date of the underlying bonds is not important; the nonexempt corporation includes the interest income as an AMT or ACE adjustment beginning in 2001.

Organization costs: Under Sec. 56(g)(4)(D)(ii), the Sec. 248 five-year amortization of organization costs allowed for regular tax is not allowed for ACE purposes. However, if the corporation is AMT-exempt in the year the organization costs are incurred, no ACE adjustment will be required. Because a corporation's first year is almost always AMT-exempt, the effect of Sec. 56(g)(4)(D)(ii) is significantly diluted.

Key person life insurance: In the case of whole-life key person insurance policies, increases in cash surrender values increase ACE, while premium payments decrease ACE. When the insured dies, the adjusted basis in the policy is netted against the proceeds for ACE purposes. It is unclear whether an AMT-exempt company would increase its policy's adjusted basis by cash-surrender value increases during its exempt period; guidance from Treasury would clarify this issue.

Anti-abuse rule: Sec. 55(e)(3) was enacted to prevent the AMT exemption from being abused. If property is transferred to an AMT-exempt company in a Sec. 381 transaction or in a transaction in which the transferee takes a carryover basis in the assets, the prospective application rule does not apply. However, the treatment is prospective only if, in the merger, tax-free liquidation or formation, the transferor was not subject to AMT or ACE adjustments.

Other Issues

Relationship Between Secs. 55(e) and 1374

When a corporation switches from C to S status, the Sec. 1374 built-in gains tax is triggered. Among other issues, the tax may be reduced by the former C corporation's MTCs. If the C corporation was eligible to be AMT-exempt, it is unclear whether Sec. 55(e)(5) limits carryover; Treasury needs to address this issue.


If a corporation is exempt from AMT, its investment strategy might change. For example, private activity bond and exempt interest are more favorably treated than taxable bond interest. Also, dividends from less-than-20%-owned domestic corporations have a higher after-tax yield if AMT does not apply.


The TRA '97 enacted Sec. 55(e), which significantly reduces the compliance costs and complexity for eligible small businesses, starting in 1998. If a corporation meets the $5 million gross receipts test, it will be exempt from AMT and able to use MTCs against regular tax. If the company's gross receipts later render it ineligible for exempt status, it will apply the AMT and ACE rules prospectively. Despite this good news, there are still many unanswered questions.


* When does the three-year lookback period start? The Conference Committee Report says 1995, while the Blue Book says 1994.

* A corporation that loses the exemption is liable for AMT prospectively only.

* Gross receipts for a short tax year have to be annualized in applying the test.

(1) The Taxpayer Relief Act of 1997, Statement of the Managers (8/1/97), p. 73.

(2) General Explanation of Tax Legislation Enacted in 1997 (JCS-23-97), the Taxpayer Relief Act of 1997, p. 60. For a discussion of whether a Blue Book is part of the legislative history and, therefore, authority, see, e.g., Karlinsky and Burton, "Can an Individual Deduct Interest Paid on a Business-Related Tax Deficiency?," 27 The Tax Adviser 430 (July 1996).

(3) IRS Letter Ruling (TAM) 9809001 (10/24/97).

(4) See Rev. Rul. 71-455, 1971-2 CB 318.

Editor's note: Stewart S. Karlinsky is a member of the AICPA Tax Division's Corporations and Shareholders Taxation Committee.

COPYRIGHT 1998 American Institute of CPA's

No portion of this article can be reproduced without the express written permission from the copyright holder.

Copyright 1998, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Banks can help small business owners

Big Ideas owner Jerrod Myers puts a shirt on display at his store March 10 at Big Ideas in downtown Lancaster. Myers got a loan from a local bank to continue the growth of his business.(Photo: Jess Grimm/Eagle-Gazette)

LANCASTER - Local business owners looking for financial help don't have to go far to find small business loans.

Two city banks, Standing Stone Bank and Fairfield National Bank, have loan programs available to help.

"We have a lot of different options on the loan side," Standing Stone President Jeff Beard said. "If a business is looking for a piece of equipment, we can certainly do a loan based on that. We could do lines of credit so if they have some cash flow needs throughout the year, they could have a line of credit where they could tap that to get the cash they need. Typically, that's secured by accounts receivable and other assets that the business may have."

Beard said the bank also offers real estate loans.

"Those would be the primary loans," he said. "But there's so much mixing and matching within those three different things. There's a lot of flexibility when it comes what kind of assets you have to loan against and what are the terms and structures? So we feel like businesses should be able to get their cash-flow needs met in some combination of those types of loans."

Fairfield National once again has a $1 million pot to loan those interested in buying a downtown commercial building.

Qualified projects should include improvements to the exterior facade, but the projects also can include interior improvements. This program is available until Dec. 31. Information about the program is available by calling Scott Reed or Kim Sheldon at 740 -653-7242.

Reed is a vice president and commercial lender.

"We enjoy being a part of downtown Lancaster and we look forward to helping our neighbors enhance their property and the aesthetics of our downtown business district," he said in a statement.

Fairfield National loaned out $1 million last year in downtown business loans.

Fairfield Federal Savings and Loan president Judy Root said since her place is a savings and loan, it does not offer small business loans. But that doesn't mean it can't help in other ways.

"But we can do commercial real estate loans and we can issue credit cards," Root said.

Big Ideas owner Jerrod Myers got a loan from Fairfield National Bank in 2011 because his Columbus Street business was growing so much.

"We felt the need to recapitalize our business and considered a host of banks to work with," he said. "Fairfield National, being a local bank, made a lot of sense for us. We had relationships with them already and they were very easy to work with and accommodating. Our thought process was that a local bank would understand our needs possibly more than a national bank, with the general assumption that they're more in tune with the local marketplace."

Myers said he used the money for cash flow, inventory and equipment.

[email protected]


Twitter: @JeffDBarron

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definition of flair by The Free Dictionary

Also found in: Medical, Legal, Acronyms, Idioms, Encyclopedia, Wikipedia.




1. A natural talent or aptitude; a knack: a flair for interior decorating.

2. Instinctive discernment; keenness: a flair for the exotica.

3. Distinctive elegance or style: served us with flair.

[Middle English, fragrance, from Old French, from flairer, to scent, from Late Latin fl?gr?re, alteration of Latin fr?gr?re, to emit an odor.]




1. natural ability; talent; aptitude

2. instinctive discernment; perceptiveness

3. stylishness or elegance; dash: to dress with flair.

4. (Hunting) hunting

a. the scent left by quarry

b. the sense of smell of a hound

[C19: from French, literally: sense of smell, from Old French: scent, from flairier to give off a smell, ultimately from Latin fr?gr?re to smell sweet; see fragrant]




1. a natural talent, aptitude, or ability.

2. smartness of style or manner: She dresses with great flair.

[1350-1400; Middle English flairier to reek « Vulgar Latin *fl?gr?re, dissimilated variant of Latin fr?gr?re. See fragrant]


- Comes from Latin fragrare, "smell sweet," and was first the ability to detect the "essence" or "scent" of something and know how to act accordingly.

See also related terms for scent.

ThesaurusAntonymsRelated WordsSynonymsLegend:




An innate capability:

aptitude, aptness, bent, faculty, genius, gift, head, instinct, knack, talent, turn.



['fl??r] n -> flair m

to have flair [person] -> être doué(e)

to have a flair for sth -> avoir un don pour qch


n (for selecting the best etc) -> Gespür nt, -> (feine) Nase (inf), -> Riecher m (inf); (= talent) -> Talent nt; (= stylishness) -> Flair nt; his great flair for business -> sein großes Geschäftstalent


(fle?) noun

a natural ability or cleverness for (doing) something. She has flair for (learning) languages. aanleg vir ????? ?????? ??????? ??? jeito talent der Spürsinn flair for; anlæg for; talent for ???????don loomupärane anne ??????? taipumus flair ; don ?????????? ??????? dar, smisao hajlam bakat hæfileiki disposizione ? ??, ?? polinkis, gabumai sp?jas; dot?bas bakat talentevne ; nese/sans for dryg, smyka?ka ???? ??? ???? ???? ????? ??? ????? ?? jeito fler, dar ??????????? nadanie dar dar sinne, känsla, näsa ???????? Allah vergisi; yetenek ?? ???, ????? ??? ???? ?? ???? ?????? s? thính; s? tinh; tài nh?n th?y ngay ??,??,?? do

Want to thank TFD for its existence? Tell a friend about us, add a link to this page, or visit the webmaster's page for free fun content.

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What To Do To Remove Financially Sound Home Mortgages

To get approved, receiving a mortgage loan might be a tricky process for people since they do not know exactly what is required. Anybody can boost their chances by reading reading quality suggestions about home mortgages for example the one's in the following article. Keep reading and have educated in the field of home mortgages.

In relation to getting a good interest, look around. Every individual lender sets their monthly interest in accordance with the current market rate however, rates of interest can vary from company to company. You can ensure that you may be finding the lowest monthly interest currently available, by shopping around.

Consider unexpected expenses when you choose around the monthly house payment that you could afford. It is really not always smart to borrow the most that the lender enables if your payment will stretch your financial allowance for the limit and unexpected bills would create unable to make your payment.

You are certain to require to create an advance payment. Most firms require it nowadays, though some mortgage providers use to approve applications without asking for an advance payment. Inquire to what the advance payment could be, before heading ahead with all the application.

Do not hang around at your residence mortgage process. After you've submitted a home financing application for the lender, this is when your clock start ticking. You need to send any necessary documents for your application process quickly. Any delays could destroy a cost and acquire you your deposit. Receive an expected closing date, then keep in touch with the loan originator periodically until the loan closes. Some lenders close quicker than others.

Before you apply for a home loan, ensure that your loans as well as other payments are current. Every delinquency you have will impact your credit history, so it is advisable to pay things off where you can solid payment history prior to contact any lenders.

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Don't lose hope in case you have that loan application that's denied. Instead, chat with another potential lender and apply when it looks decent. In order to qualify for a financial loan, each lender has certain criteria that must definitely be met. Because of this it will make sense to utilize at several places to have optimal results.

Get a 15-year mortgage rather than 30-year mortgage if you can afford the higher payments. In the first years of a 30-year loan, your payment is mainly used on the interest payments. Very little goes toward your equity. In a 15-year loan, you develop your equity much faster.

In the event the loan you are looking for is actually a set rate or adjustable rate loan, find out. Generally adjustable rate loans offer lower interest rates however, the interest can increase after a while. With the adjustable rate loan, your rate of interest can increase yearly thus costing you more money in the end.

You may be so pumped up about acquiring a brand new home that you venture out and commence buying all kinds of furniture. Until you are investing in the furniture in cash, you should hold off for this. You don't wish to open any lines of credit or make any large purchases until after your loan is closed.

When you are having troubles paying your property mortgage, get hold of your lender immediately. Don't overlook the problem. That'll only have the issue worse. Your lender can display you a variety of options that could be open to you. They will help you make your home if you make the costs cheaper.

Do not change banking institutions or move any cash when you are during this process of obtaining a loan approved. If there are actually large deposits and money is being moved around a good deal, the lending company can have lots of questions regarding that. In the event you don't have got a solid cause of it, you might end up getting the loan denied.

Be sure that honesty is the only policy when applying for a mortgage loan loan. Should you be less than truthful, it could come back to haunt you. In case your lender can't trust you, they are not going to trust you then using their money.

Avoid mortgages who have variable rates of interest. You undoubtedly are at the whim of the economy with a variable interest rate, and this can certainly double what you will be paying. This could result in you will no longer having the capability to afford your house, that you simply, obviously, usually do not want to see happen.

Be skeptical of mortgage lenders who promise you the moon. Most lenders work on commission. So, it is going without saying that you have dishonest lenders that will promise anything to have a commission. If you do not feel comfortable, remember that one could back out of application for the loan at any moment.

You should be demonstrably responsible to get a mortgage loan. This implies you have to have an excellent job that pays for how you live with money to spare. Not only that, you need been at the job for several years or even more, and you also should be a good employee. The property mortgage company is getting into a lasting relationship along with you, and they would like to know that you are willing to commit seriously!

Buy your credit in order. If you currently have a wallet full of plastic for every single occasion, you need to downsize. Having excessive available credit can harm the loan, even if it is not debt. Close any non-essential accounts. Selected a gas card, a store card, and a single credit card to help keep.

You save money a home loan by using a lender who proposes to finance with no closing costs. Closing costs are a tremendous a part of a mortgage loan. To replace with that lost money, however, the lenders can make up it in some other way. Usually by using a slightly higher interest rate.

As you now read an incredible article about home mortgages, there is absolutely no reason to be confused whenever you must submit an application for one. Although it may be complicated at times, after looking at the following tips you now have the proper tools to feel confident when you are evaluating the right mortgage. Take these tips and utilize them wisely any time you obtain a home mortgage.

These Tips May Help You Together With Your Personal Finances

Most people would agree that without having a great grounding inside the arena of personal finance, life is likely to become a difficult journey. So that you can ready yourself for your adventure, it is recommended to gather as much knowledge as you can on matters of money. Go ahead and take following tips and ideas to heart, and you will definitely be on the right track to attaining expert status.

Avoid buying new gadgets every time they come out. The purchase price has a tendency to come down within the first 6 months of release, as most of us have seen recently with a number of the hottest new releases. Don't hop on the train to purchase your new toy at release, and you'll avoid a bundle.

Begin saving cash in a normal savings account. It won't help your credit report at this time, nevertheless it will give you the security to handle concerns that may arise. Lacking a savings is what causes lots of accounts to go into default. Be sure to cans survive temporary concerns that may think of a good emergency bank account.

Another great way to help your financial predicament would be to purchase generic options to branded products. For instance, get the store brand corn as an alternative to popular brands. Most generic items are surprisingly comparable with regards to quality. This tip could save you hundreds on groceries every with each year.

If an individual has an interest in supplementing their personal finances checking out online want ads might help one locate a buyer searching for something that they had. This is often rewarding if you make one take into consideration anything they own and could be ready to part with for the right price. When they find a person who would like it already, one could sell items easily.

Don't be discouraged by using a drop in your credit history while you are concentrating on repairing your credit since this is not uncommon. Don't worry a lot of relating to this if you have done no problem. Simply still add positive activity to the credit record, be persistent and you will definitely see improvement with your score.

To enhance your own personal finance habits, pay back your debt the moment it is possible. The quantity of interest on loans is extremely high, and the longer you are taking to cover them off, the greater number of you spend in interest. Additionally, it is best to pay over the minimum which is due on your loan or charge card.

Track the amount of money you would spend every month. Although some people hate being reminded of where their cash goes on a monthly basis, tracking it will also help you identify ways to save wasted dollars that could go to a more worthy cause. Commit to tracking your spending for just 1 or 2 months at first, and challenge yourself to get the "fat" to trim inside your monthly spending.

Create an automatic payment together with your credit card companies. Most of the time you may put in place your money being paid straight from your bank checking account each month. You may set it up around just spend the money for minimum balance or pay more automatically. Be sure you keep enough funds with your bank checking account to pay for these bills.

When someone has a desire for animals or already has a substantial amount of pets, they could turn that interest into a supply of personal finances. Informational presentations, or perhaps providing tours at one's home can produce financial benefits to supplement the expenses of your animals plus more, by doing presentations at parties.

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Look into your credit track record frequently. Check online to find out different methods of checking your report at no cost. For you to do this at least two times a year to make sure that everything on your report is accurate which no one has stolen your identity.

If you would like reduce costs when you are shopping, remove how much cash you will use beforehand by leaving your debit or bank card in your own home. Owning your debit or credit card with you if you are shopping will just tempt you to definitely spend more money.

Small steps can assist you obtain your personal finances within the right shape. Quit that coffee each morning and instead brew your personal. You have just saved $25 weekly. Ride sharing can decrease the expense of you daily commute. You just might save a considerable amount of money with this change. The cash that you may have wasted might have been invested. Alternatively, put towards your retirement. That is certainly definitely worth a little more than a glass of coffee.

An excellent personal finance tip - that will save you money - is to purchase groceries, to be able to cook more meals at home. Eating dinner out could possibly get expensive, specially when you need to do it a lot. Cooking meals in your own home, as opposed to eating out, could help you save a bunch of money!

Improve your contributions to employ this "free" retirement money in case your employer matches your 401k contributions. You do not pay taxes in the money you contribute until once you start drawing it income, so you are in reality cutting your tax load for the short term by investing more in the future.

If you discover yourself needing a personal loan, but they are confronted with banks that are generally unwilling to ensure they, you need to gather documents that prove that you are currently a minimal-risk credit consumer. This could include favorable payment records on car loans or credit card banks, as well as paycheck stubs from the stable employer.

Save your plastic grocery bags and tuck them within your car, your luggage, along with your trash cans. What better strategy to recycle these bags rather than to use them repeatedly? You can take them along towards the food store, make use of them as opposed to new garbage bags, put shoes within them if you are packing, and make use of them thousands of other methods.

It is extremely possible to be charge of your financial life simply by making small changes in some places, as you can tell. It is possible to stop worrying about finances and locate peace. So, exactly what are you waiting around for? Start making changes today and your wallet will thank you tomorrow.

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