Automotive scan tools are actually small computers run by programs like all other computers. Computers themselves, when demythologized, emerge from the fog as remarkably simple devices that think in 1’s and 0’s. They’re not that smart. The true “intelligence” and complexity of any machine ALWAYS lies with the program within. When purchasing automotive scan tools and software, evaluate first the frequency with which you either personally or professionally encounter technological and mechanical change, and choose automotive scan tools with software upgrade options that will adapt an existing unit to new industry developments without requiring unit replacement with each advance in technology.Pro-link scan tools and software offer you countless benefits in application and upgrade capabilities. Keynote features range from diesel engine fault ECU input monitoring, programmable EEPROM data, and comprehensive database storage of all proprietary OEM specifications. Pro link scan tool software packages offer comprehensive diagnostics on Detroit Deisel DDEC I/II electronic engine controller systems, Bendix ABS and ATC systems, Volvo VED 12systems, and even Mack Trucks with V-MAC II and Marine engine troubleshooting for boats! Each of these Pro link software packages proactively anticipates the many complex problems that can arise from increasingly complex technology. You can also expect to benefit from specific diagnostic capabilities such as ECU input and output status monitoring, displayed data parameters in either English or metric readout, user-created custom data lists, and clear diagnostic fault codes and compression testing options.The first time buyer normally asks the obvious and intelligent question, “When do I know it’s time to upgrade my pro link scan tool software?” Need and circumstance determine upgrade requirements more than any generic feedback can advise. Personal vehicle owners normally upgrade their automotive scan tool with new software when they purchase their next vehicle. Professionals face more variables and greater frequency of upgrade because they service multiple vehicles of diverse make and model, and they face industry changes every day as a standard course of business.Each time the government requires a new safety feature and issues a set of safety compliance standards regulating its performance, vehicle technicians will need to upgrade pro-link scanning tools with software that can effectively diagnose safety devices and proactively identify potential malfunctions. If you run a service shop, make especially certain that your automotive scan tool software reflects the latest safety compliance laws. Not only must you observe these standards due to governing authority, but the problematics of insurance can only harm your business if you neglect to upgrade your software and later find yourself held liable for an accident outdated technology failed to prevent. Please do not assume that this cannot happen to you because it already has to someone in the world today. It does not, however, have to repeat itself in your personal world or the lives of your clients.It simplifies life and better serves outcome to simply upgrade automotive scan tool software anytime you learn of a feature that specifically addresses a change or new type of problem you encounter. Automotive scan tool software loads into the unit via CD or a plug and play card similar to software and expansions cards on PC’s and laptops. The process is simple. The results will astound you and serve you well.
Near the end of September 2010, President Barack Obama signed a Small Business Bill into effect. The new bill set aside $30 billion for small business lending. The law also includes $12 billion in tax breaks for small companies. This bill was signed into effect as a response to the 9.6 unemployment dissent in America. President Obama and the administration signed the bill to demonstrate an effort to decrease the unemployment levels in the United States. President Obama hopes that the loan will create as many as 500,000 new jobs within the next couple of years.Small Business Jobs Act 2010 ChangesThe Small Business Jobs Act includes the Recovery Act Loans Extension that provides $14 billion in lending support. Small Business Administration (SBA) Recovery loans will be extended under the law with a 90% guarantee and reduced fees. At the time that the bill was signed, 1,400 small businesses were waiting for funding. Since the signing of the Recovery Act, 70,000 Recovery loans have been supported. Over $680 million dollars have created $30 billion in lending support.The bill supports higher loan limits, and the maximum loan sizes increased in the pre-established loan programs. The new bill also increases the 7(a) and 504 loan limits from $2 million to $5 million. Manufacturers may receive up to $5.5 million. The 7(a) loan program is one of the most flexible loan programs offered for start ups and existing small businesses. Most of these loans are gained through commercial lending institutions. The 7(a) loan program includes an Export Loan program and a Rural Lender Advantage program. Some businesses will be able to refinance and incorporate their commercial real estate mortgages into the 504 loan program. However, this only applies to owner occupied units.Microloan limits increased from $35,000 to $50,000. These loans are designed to help entrepreneurs with large start-up companies and small businesses owners in underserved communities. The new bill also increases small business eligibility for SBA loans. They make this possible by increasing the “alternate size standard” to small businesses with less than $15 million in net worth. This also applies to those businesses with less than $5 million in average net income. The law also increases the amount of Small Business Administration (SBA) Express loans from $350,000 to $1 million. Working Capital and Commercial Real Estate Refinancing received temporary enhancements to assist small business owners.Tax CutsThe tax cuts include the following:- More Deductions for Start Ups
– Deductions for Cell Phones provided by the Employer
– Self Employed Health Insurance Deductions
– Penalty limitations for small business tax reporting errors
– Accelerated or Bonus Depreciation
– Provisions for up to Five Years of Net Operating Losses
– Up to $500,000 for Small Business Expenses: The Highest Expense EverFees Associated with the SBA LoansFees are assessed to offset the costs of the SBA loan to the taxpayer. Lenders are charged a guaranty fee and servicing fee for each approved loan loan. The fees are a percentage of the amount loaned to the borrower. The lender may charge the guaranty fee upfront. However, the borrower is not responsible for the lender’s annual fee.ARC LoansARC Loans are small business loans that do not carry any associated fees. In the past, the fees for loans were between 1% and 3.5% of the total cost of the loan. ARC loans offer 100% guaranty from the SBA to the lender. No fees are required to be paid to SBA. Many of these loans are provided over a six month period. The repayment of the principal of the loan may be deferred for 12 months after the final disbursement of the loan. Repayment may last as long as five years. The best candidates for this type of loan are companies that have been profitable in the past, but are currently struggling. These companies may have begun to miss payments recently because of financial hardship. These funds may be used to make payroll, buy inventory or improve core operations.7(a) LoansLenders will be charged an annual fee of 0.55 percent of the guaranteed portion of 7(a) loan. The fee will only be assessed to the balance of the loan and not the entire loan amount.504 LoansBorrowers will pay an annual fee of 0.749 percent on the outstanding balance of the 504 loan. This amount increased from 0.389 percent. Loan interest rates may not exceed 4.75% and may be as little as 2.25% when negotiated through a bank.How Long is the SBA Loan Process?Since the Small Business Administration is a guarantor and not a lender, the amount of time required to approve the loan will vary. The Small Business Administration attempts to reach its decision within seven to 21 business days from the receipt of the application. To accelerate the process, applicants should have several components of their application in place.The length of time it takes for the SBA to respond to the application depends on the loan program your business elects to apply to. A business plan with financial statements is required for all loan programs. Earnings projections and collateral offerings must be established. In general, the SBA microloan is the least time consuming application and will be approved the fastest. The maximum loan amount was increased to $50,000. The funds cannot be used to buy property or pay debt.Top Five SBA Loan LendersThe banks have sorted SBA lending by region. Some of the most prominent banks involved in lending are the following:Wells Fargo BankWells Fargo managed a No. 1 ranking between October 1, 2009 and September 30, 2010 for the Small Business Administration 7(a) loan. The bank issued 91 SBA loans with a total value of $31.9 million. The bank was the second leader in terms of ARC loans. The bank issued 23 loans for a combined value $710,100.JPMorgan Chase BankChase Bank issued 33 ARC loans with a total value of $935,100. They ranked No. 1 in this category of loans issued.Mortgage Capital Development CorporationThis particular bank issued the most 504 SBA loans. Businesses may use these loans for real estate purchases, property constructions and upgrades.TMC DevelopmentThis bank issued 71 SBA loans for a combined value of $54.1 million. Nearly, 56 of these loans were 504 loans. The loans had a total combined value of $48.9 million.Capital Access GroupCapital Access Group issued 51, 504 loans for combined value of $37 million.Rates of Top Five SBA Loan LendersWells FargoTypically, 3.5% of the SBA amount is due at the time of the loan. However, the fee may be financed. An origination fee may include bank fees. A fixed or variable interest rate will be negotiated by the bank for the Wells Fargo portion of the loan.Chase BankA guaranty fee of 1% to 3.5% of the guaranteed amount must be paid by the lenders. The lender must also pay the annual fees of 0.25%. The lender may pass the guaranty fees onto the lender, but not the annual fees.Mortgage Capital Development CorporationThis bank charges 0.389% of the balance of the loan for fees.TMC DevelopmentMost 504 loan programs will pay up to 90%. Therefore, most borrowers only have to make a 10% down payment. This bank offers a 4.39% interest rate to those seeking a loan. The fees are typically 1% or less.Capital Access GroupBusinesses may get up to 90% financing with a SBA loan. The interest rates are 4.40%. The fees are typically 1% or less.Copyright (c) 2010 Trey Markel