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48 • JANUARY 2014 • WORLD FENCE NEWS Improved efficiency continued from page 46 including a reliably consistent profit margin, is among the most critical benefits they experience from Lean. "The construction industry is evolving, and our study reveals that firms with strong Lean practices will have an advantage in the future," said Harvey M. Bernstein, vice-president, Industry Insights & Alliances, McGraw Hill Construction. "They will be able to deliver higher quality projects Pull Away From The Pack With PulJak! THE FENCEMAN'S FRIEND STRETCHES • LIFTS • ALIGNS • CLAMPS MODEL A–21⁄2 ® FOR: TIGHT CORNERS, SHORT PULLS, GATES ONLY $95.90 Designed for those "Impossible" jobs for their clients – on schedule and on budget. As owners become more familiar with Lean, they will increasingly demand this level of service." Contractors that are familiar with Lean construction but have not adopted any Lean practices find that improved productivity and profitability would be influential in their decision to pursue Lean at their company. Therefore, it is important to note that over three-quarters (77%) of Lean practitioners find that they have achieved greater productivity and almost two thirds (64%) find that they are more profitable due to Lean. "The AEC industry is undergoing an important transformation in the way work is performed and managed," said Marty Doscher, vice-president, Architecture, Engineering and Construction, Dassault Systèmes. "This research highlights the industry's need for a collaborative backbone and data consistency. All team members need to share the same consistent set of data and to arrive at a shared understanding of objectives, plans and status to be successful." The study demonstrates that using the right tools can support a firm's efforts to increase efficiency. It reveals that the ability of a firm to be more efficient is enhanced by a centralized enterprise backbone and design and management tools that integrate with it. The study found that only 34% of firms currently use an enterprise software backbone to manage their data. Of those that do, 65% of the firms find that it supports their efficiency efforts, especially those like prefabrication and worker studies that depend on better data. The research demonstrates that collaboration is a critical component of Lean, and other McGraw Hill Construction studies have revealed that collaboration is also a rising trend in the industry. The ability to exchange data among project team members is critical to collaboration. Dassault Systèmes provides business and people with virtual universes to imagine sustainable innovations. For more information, visit www.3ds.com. PulJak® Company LLC P.O. Box 449 • Branford, CT 06405 PHONE: (203) 500-2520 • FAX: (203) 738-1088 E-mail: puljak@comcast.net Visit us on the Web at www.puljakusa.com Asset-based loans from commercial finance companies differ from traditional bank loans or lines of credit BY TRACY EDEN THE SKY'S THE LIMIT ECGO-G Cell Phone Entry System New Model FEATURES: • Fits standard gooseneck stands • Larger enclosure • Same great programming • High-gain cell integrated antenna • No cell contract needed • Weatherproof stainless steel • Rings up to 3 administrators in sequence • Program up to 100 users to access the gate • Works with mobile and land lines • Answer visitors call no matter where you are • Gate is able to be latched/unlatched via cell phone OUR VISIT EBSITE W NEW com O. yECG m Get This and Many Other Innovative Products from East Coast Gate Operators, Inc. • For use with all gate automation systems When it comes to the different types of business loans available in the marketplace, owners and entrepreneurs can be forgiven if they sometimes get a little confused. Borrowing money for your company isn't as simple as just walking into a bank and saying you need a small business loan. What will be the purpose of the loan? How and when will the loan be repaid? And what kind of collateral can be pledged to support the loan? These are just a few of the questions that lenders will ask in order to determine the potential creditworthiness of a business and the best type of loan for its situation. Different types of business financing are offered by different lenders and structured to meet different financing needs. Understanding the main types of business loans will go a long way toward helping you decide the best place you should start your search for financing. • No trenching for phone lines • 12/24 Volts AC/DC - 1.5 amp power supply • Easy remote programming via cell phone or computer 704.768.2230 Interested in becoming an ECGO distributor... Please call us! Banks vs. asset-based lenders A bank is usually the first place business owners go when they need to borrow money. After all, that's mainly what banks do – loan money and provide other financial products and services like checking and savings accounts and merchant and treasury management services. But not all businesses will qualify for a bank loan or line of credit. In particular, banks are hesitant to lend to new start-up companies that don't have a history of profitability, to companies that are experiencing rapid growth, and to companies that may have experienced a loss in the recent past. Where can businesses like these turn to get the financing they need? There are several options, including borrowing money from family members and friends, selling equity to venture capitalists, obtaining mezzanine financing, or obtaining an asset-based loan. Borrowing from family and friends is usually fraught with potential problems and complications, and has the potential to significantly damage close friendships and relationships. And the raising of venture capital or mezzanine financing can be time-consuming and expensive. Also, both of these options involve giving up equity in your company and perhaps even a controlling interest. Sometimes this equity can be substantial, which can end up being very costly in the long run. Asset-based lending (or ABL), however, is often an attractive financing alternative for companies that continued on page 50