Crown Dental Care

As businesses have taken measures to protect their employees, their patients and community at large; some have taken a step forward in order to be present in times of great need. A great example comes from Dr. Thy Nguyen’s practice at Crown Dental Care.

The practice has been closed and will remain closed until April. Even though Crown Dental serves Germantown and Rockville, during these times they have decided to reinvent themselves. In order to still be able to assist patients, they will now be offering virtual consultations.


It is the perfect way to stay safe while at the same tending to your dental needs. Its simple and fast.

Please follow them in Instagram at @CrownDentalCareMd and @DrThyNguyen .

You can learn more about the services they offer in their page: dentistingermantown.com

We also invite you to follow the link in their BIO at @CrownDentalCareMd for your virtual consultation.

You can also read their blog: https://www.dentistingermantown.com/blog/

#IdeaHelps is proud to present this top of the line dental firm that not only has state of the art facilities but has now taken the leap into virtual world consultations.

Bubbles Tea & Juice Company

We continue to share stories from the backbone of the American economy. This time we share a business that makes us feel bubbly, and even though their teas and juices can refresh any situation, they are warming our hearts right now.

Bubbles Tea Company began in the Historic North Market in 2005 with a vision to impact the lives and health of their customers one drink at a time. More than 10 years later we can say they are definitely living up to that vision.

Just like many businesses, some of their branches have had to temporarily close during these difficult times.

Nevertheless, their Easton, Polaris, North Market and Worthington branches are still sending drinks and meals out for us all to keep us healthy.

Bubbles Tea Company is not only delivering quality products to boost your health, but they are also sending free refreshments to doctors and nurses that are taking care of all of us.

Some of the products bubble include:

Bubble teas, cold press juices, smoothies, açai bowls and protein bars.

If you are in Columbus, Ohio you are in luck!

You can order via Uber Eats here: Bubbles Tea & Juice

You can contact them on the phone to see if pick is available at a location near you: (614) 280 -1400

Follow them on Instagram: @bubblesteacompany

Find them on Facebook: @bubblesteacompany

The Hideout Steakhouse

At Idea Financial we value those businesses that are exceptional. While we are working from home, we would like to share some of those that have touched our hearts and in this case our bellies too.

The Hideout Steakhouse

As ironic, yet appropriate name as it may be during these times, The Hideout is a one of a kind restaurant where you can expect something special. Have you just known a meal was delicious just by looking at it? Have you ever watered your mouth just with a smell?

The Hideout Steakhouse started probably just like the first wheel, with a big rock. Here, steaks are made your way over a sizzling hot stone. You choose how you want to eat it. You can also choose a barbecue that will touch your soul or if you prefer something less dramatic; you can try the handmade burgers so good, you can feel your mother’s love in every bite.

Well, if you are in Heber City or passing by Myton, you are in luck. As we quarantine safely, The Hideout can have that deliciousness delivered to your door. Sadly, they won’t be able to take the blazing stone, but just about everything else.

Alternatively, if you are on your way from the grocery store; The Hideout will have it safely ready for you on the curbside.

Call now to place and pay your order over the phone:

Heber City: (435) 709 – 2099

281 N Main Street, 84032

Myton: (435) 656-3500

8400 S Parriette Road

You may also visit their website here: The Hideout Steakhouse

Idea Helps – Small Business Relief

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Last updated on 4/3/2020 with:

As our nation comes to terms with the consequences of COVID-19, we at Idea Financial hold true to our values and to our belief that there is a symbiosis that connects us all. Therefore, we will not only work together with our clients, partners and employees, but also try to provide relevant information to help everyone navigate through these trying times. Below you will find information about business and employee relief efforts, which we hope alleviates the adverse effects of COVID-19 and its implications for all.

Over the coming days we will be updating the information below, as well as featuring, in our social media channels and blog, how fellow business owners are adapting to this situation.

For customer assistance contact us at (855) 900-7838 or email help@ideafinancial.com.

National Relief for Businesses

In order to slow the spread of coronavirus, many states opted to cancel school, gatherings and events of all sizes. Small businesses and individuals have followed suit, creating an absenteeism that increases financial strains.  President Trump has instructed the Small Business Administration to extend relief loans to help small businesses overcome temporary economic disruptions. A national emergency was declared in order to infuse another $50 billion into the economy and help affected businesses.  More relief efforts are on the table and/or pending legislative and executive approval. Some of these efforts include the following, check back for more updates daily:

SBA

SBA economic loans for businesses statewide will provide working capital loans of up to $2 million under the Economic Injury Disaster Loans (EIDL) program. If your business is suffering a drop in sales, lack enough funds to cover business expenses like payroll, fixed debts or accounts payable, this an option that can help your business keep afloat.

CARES Act

The Senate passed a $2 trillion aid package to address the COVID-19 situation. Notable provisions include a $1,200 check for most Americans, higher unemployment insurance payouts, and the “Paycheck Protection Program”, which allocates up to $10 million per small business to cover payroll, rent and utilities.

Tax payment deferrals

Income tax payment deferment is another financial relief benefit for both businesses and individuals. Sole proprietors, single-member LLCs and Corporations have their business tax return deadline on April 15. The Treasury Department and IRS extended such deadline for businesses negatively impacted by the Coronavirus, penalty free, for 90 days. For more info, visit the IRS Coronavirus Tax Relief page.

Payroll tax credits

Payroll tax credits are on the legislative table. As a bill proposing federally mandated paid sick leave and benefits passed in the House and is now in the Senate; it would require employers to provide paid sick leave to eligible employees for 14 days. To counter this financial strain on small businesses, the House approved a business tax credit for the same amount incurred during this time.

Employees

As Coronavirus affects more businesses, it affects the employees who make up those businesses. The federal government has also prepared legislation to relieve employees during this difficult time. Find information in the following links:

Center for Disease Control

As we all learn what are our options to cope during these difficult times, it is important to have in mind that our individual actions affect everything around us too. We would like to promote information from the professionals at the forefront of this pandemic and share the following link to the Center for Disease Control and Prevention: CDC

Ask not for a lighter burden, but for broader shoulders.

FAQ’s

As the procedures, requirements and new information is not widely available, we are answering some pertinent questions with regards to the whole EIDL process, information for other funding options and suggestions on how to cope with the consequences of COVID-19.

Who is eligible for Economic Injury Disaster Loans?

Only small businesses that are in counties approved by the SBA and that are considered impacted by the Coronavirus are offered the potential relief. First thing small business owners should do is go to the local county website or contact your county officials with regards to the status of the Economic Loss Declaration. Once the SBA has approved and declared it an affected county, then economic injury assistance will become available. Once available, try to apply a soon as possible as SBA staff will most likely be dealing with a surge in applications.

To be eligible, a business must meet the definition of “small,” which depends on the industry the business is in.

For example:

  1. Wholesale trade: Maximum number of employees must range between 100 and 250.
  2. Real Estate offices agents and brokers: Maximum $8.0 million dollars in annual receipts.
  3. Full-service restaurant: Maximum $8.0 million dollars in annual receipts.

For the complete table, visit the SBA website, call the SBA at 1-800-659-2955 or see this PDF here: Table of Small Business Size Standards

Where can I apply for an EIDL??

Apply online here. It will require the creation of an online account with which you can track the status of your application.

What amount of capital will be available for assisting a small business?

The maximum loan amount offered in the current program is $2 million. You may apply for an EIDL for the amount of the economic injury and operating needs of the business, but the amount must not exceed what your business could have earned, had the disaster not occurred.

Are non-profit organizations eligible for EIDL?

Yes, non-profit organizations may apply for EIDL.

What may funds be used for?

Fixed debts, payroll, accounts payable and other bills that can’t be paid as a result of the disaster’s impact.

What are the interest rates and repayment terms?

The interest rates start at 3.75% for small businesses and 2.75 for non-profits.

What are the credit requirements to apply for an EIDL?

The business must have a credit history that is acceptable to the SBA. The business must prove to have the ability to repay all loans. In many cases, collateral is required, but SBA will not decline a loan for lack of collateral, but it may require a pledge. SBA may review financial statements of partners, officers, directors and stockholders. There may be a guarantee required as well.

Are there other organizations that are offering relief to small business due to the Coronavirus pandemic?

Yes, there are different organizations and companies at the national, state and even county and city level.

One option is to contact your local chamber of commerce as they have business that may be affected by the pandemic. You may need to become a member to have access to their services. Find your local chamber: Chamber of Commerce Directory and also the Coronavirus Small Business Guide from the Chamber.

Here are some links to local and corporate relief programs:

These are just some initiatives taken by local governments. Each individual state will most likely create their own plan to specifically address the situation based on their needs. A list of all the state governors websites links can be can be found here.

Other relief sources

General

Service industry

Inormative Links:

The Idea Financial team will keep updating and adding information as it becomes available. Please contact the SBA if you have further questions with regards to the Economic Injury Disaster Loans program through their page here.

Ask not for an easier path, but for stronger feet.

Coronavirus COVID-19 Update

The continued spread of the novel coronavirus (COVID-19) overseas and at home remains a challenge for our fellow business owners, partners and employees. 

We are monitoring the WHO, CDC and other government protocols to protect the health and well-being of our employees and to ensure that you continue to have access to Idea Financial products and services. 

Like our customers, our team is resilient and open for business as we weather this situation together. 

Should you have any questions or concerns reach out to info@ideafinancial.com for immediate assistance.

Sincerely,

The Idea Financial Family

Always Present

As the planet becomes more interconnected, communications are now instantaneous, and many decisions must be made on the spot. This is true on both sides of the financial coin; lenders and clients make decisions that will affect them then and there as well as in the future.

Just like any financial entity, we here at Idea Financial do our best to make sure we are servicing clients who have exceptional products or services, are in good standing with their providers and clients and have a plan to grow. On the other side, clients want to make sure that the valuable information they are providing is secure, that they will receive the funds that they need in time and that they will be serviced in the most professional and friendly manner.

This is why we will always be a click away, a call away and a step away. It is more than just finding a line of credit, term loan or any financial solution. Even though Idea Financial funds nationwide, we are also proud to receive you in our offices. The only thing we ask is that you let us know ahead of time so we can inform one of our, or your personal dedicated business advisor, so he or she can be ready to take the time to discuss anything you need, put a face to the name or simply to say hello.

Needless to say, we are happy to welcome you, and as experienced has taught us; our team is more than happy to see, wear, use and even taste the wonderful products that your business offers.

At the end of the day we are here to stand with you and your business.

Idea Financial Chimes In On New Hire

Last week Idea Financial announced that it had appointed Gregory Sandler as its Chief Operating Officer and General Counsel. Having served as General Counsel to both Beyond Finance and Spruce Finance after working as VP and Corporate Counsel to Bayview Asset Management, Sandler believes he’s well positioned to help Idea.

“I have a sense of gratitude to them, because I feel like I’m piggybacking on a lot of the hard work they’ve already done over the last three years,” Sandler told deBanked in a phone call. “But part of the reason for bringing me on I think is that as we move from a startup to a more mature company certain skill sets are needed, and they put the trust in me that I have the skill set that can help them get to that next level.”

Before providing counsel to alternative finance companies, Sandler served as an Associate Director at Bear Stearns in the mids-2000s.

“We’re about to cross into our one hundred million dollars in funding threshold, which is a big deal, very soon,” Justin Leto, CEO of Idea, explained over the phone. “That’s a major accomplishment, and it just shows that we’re in a position right now where bringing on the strongest and the brightest people is exactly what we need. And I think Greg is a symbol of what this company has become and what it will continue to be.”

Brendan Garrett is a Reporter at deBanked. Email me story tips at brendan@debanked.com and connect with me on LinkedIn.

Charge Forward Together

Hurricane Dorian created havoc in its path through the Caribbean and all the way up through the United States and Canadian coast. Idea Financial’s southern neighbors from the Bahamas have faced devastation on a level they have not seen before. Thanks to the proximity to the islands, we are working with part of our team and local organizations to send emergency supplies starting this week.

If you would like to contribute the relief effort, we have created an Amazon list in which you can purchase the items, these would be received at our offices and sent to The Bahamas. The list comes official relief webpage of The Bahamas government:

https://www.bahamas.com/relief

There are links to several organizations that will take monetary donations if you prefer to do so.

The following is link to our Amazon Bahamas Relief effort:

http://a.co/8XK5QQb

Please note that all quantities needed in the list start at 100. This does not reflect the need of one over another, this is an arbitrary amount set in order to have all supplies available for purchase.

From all of us at Idea Financial we thank you for any help you can send. We grow stronger when we work together and stand with one another.

Thank you once again.

5 Smart & Simple Ways to Boost Summer Sales

Summertime is in full-swing! 

Take advantage of the spirit of the season with 5 fun, and creative ways to entice summertime spending.

1.    Create an event, host a summertime ‘open-house’ and invite customers to check out your latest and greatest seasonal merchandise. Implement festive seasonal displays & create some give away items to generate excitement and gain attendees. 

2.    Take advantage for the warmer weather and host daily side walk sales.  Utilize your Social Media platforms & e-mail marketing databases to help spread the word.

3.    Holiday themed promos,Create discount codes and coupons around key holidays to generate both in-person and online traffic. Everyone loves to celebrate a good deal!

4.    Create a guide to the season.  Generate a style guide & and give your shoppers a sneak preview of your store’s collection.  Everyone loves good inspo – especially when it leads to a sale.  Your clients may even find exactly what they are looking for in your e-mail.

5.    Create a no cost contest.  Customers love contests because it’s a FREE opportunity to win something.  Utilize your social media & e-mail marketing databases and communicate your contest guidelines for both how to enter and winner selection.  Generate a fun hashtag for the event to really engage your followers!

Attention Small Businesses: Here is What You Must Know About Gen Z Consumers

Generation Z is on track to be the most money-driven, financially powerful generation ever. This generation’s unique habits will play a vital role in shaping America’s commerce. Young people’s consumer habits will also be a key driver in influencing retail practices in the future.

This was the finding of a new report released by Morning Consult. It’s titled ‘Understanding Gen Z: How America’s Largest, Most Diverse, Best-Educated, and Most Financially Powerful Generation Will Shape the Future.’

The report is based on thousands of interviews with 18 to 21-year-olds.

Gen Z Consumers

The survey explores the consumer habits of Generation Z — those born between 1997 and 2012. And it provides important insight for small business retailers. It examines what they should be doing to appeal to what will be the most money-driven, financially-powerful generation there’s ever been.

While enamored with major technology and social media brands, Generation Z enjoys shopping in-person. The survey found 48% of all Gen Z adults enjoy shopping in-store more than digital methods of shopping.

The figure is slightly higher amongst female adult Gen Z’s. 55% of the women interviewed say shopping in a physical store is their preferred way to shop. That contrasts with 40% of Gen Z men.

Debit Cards are Gen Z Consumer’s Preferred Payment Method

The research also looked at the way Gen Z pay for everyday items. It found the debit card is the most common way to pay for items. 47% of all Gen Z adults purchase products with a debit card. 30% of Generation Z adults use cash to buy things like groceries and gas. And 11% regularly use credit cards.

The survey participants were also asked about reviews. This included which types of reviews mattered to them the most when looking to try a new product or service.

41% of the Gen Z’s interviewed said consumer reviews and ratings on a website are most important. And 38% believe recommendations from friends or family are the most important type of review when determining whether to purchase a product or service.

Gen Z Consumers Value Expert Reviews

36% of the 18 to 21-year-olds interviewed said they believe expert reviews are most important, and 17% said a recommendation from an influencer or account they follow on social media was the most important type of review when it comes to deciding whether to buy something.

The report also notes the importance Generation Z places on convenient, quick and efficient shopping transactions. As the report’s authors note:

“Two-day delivery and other seamless online shopping experiences have become commonplace in the years since Gen Z first began spending serious money, driving high expectations about convenience.”

Gen Z is set to become the most financially driven generation. So it is vital small businesses keep up to speed with what this generation deem as important.

To remain competitive amongst this generation of spenders, small businesses need to provide the seamless, quick and convenient service this young generation expects.

Small businesses will need to consider their business reviews and be proactive in making online consumer reviews work in their favor.

Given that Gen Z consumers prefer in-store shopping, a retailer would be wise to provide customers with a choice of shopping in-store and from an ecommerce site.

The key takeaway is that the financially motivated Generation Z is poised to be one of the biggest consumers in America and consequently small businesses need to cater for the age group’s demands, habits and preferences in order to appeal to a generation of spenders.