Entries from July 2011 ↓
July 31st, 2011 — Debt Consolidation
A lot of the newly established and medium-sized businesses are looking to the larger banks to give them their loans that will serve as their business funding. For many years, as most businesses that decided to start thinking of relying on these banks to make sure that they are able to get their own started and base on the money they will run their business smoothly at the first stage. Unfortunately, things have changed somewhat and it is not anymore that easy to business funding from banks.
The issue will be looked at an insight perspective, we could see that it is because most of these larger banking firms are now worry of lending all these new businesses the money that they need and want because not every one of them to be able to pay them back as they guarantee. Therefore, most of these banks are more comfortable to let established companies raise business funding, and they typically see the mid-sized firms as very risky and dangerous. These banks, most of the cases think that small businesses will be unable to sustain their businesses, and so they disregard most of the newly established applications for loans.
Let’s move on to the exciting part: business line of credit online. Nowadays, most people do not realize that when they shop around their town, they are less likely to find different pricing for loans. Competitors keep a close look on the rates and fees other lenders are offering in the same areas.
However, if you shop online, you have better chances to find good loans and business funding. It does not matter if a lender is located in Texas and you live in Maine, you are still able to apply for a business line of credit online through the Texas lender. That’s really convenient for you! The Internet gives you the chance to compare far away lenders to lender right at your fingertips.
Shopping for a business line of credit online gives you the right to give you more leisure time to make any decision you want. It is completely fine to compare the pros and cons of each lender you are interested in receiving a business line of credit online form.
Keep a notebook near you to write down the likes and dislikes of the lenders you compare. Taking as much time as you need and looking online for lenders will give you piece of mind that you made the right decision.
July 28th, 2011 — Debt Consolidation
If you are considering filing for bankruptcy, you should speak to a Seattle Bankruptcy Attorney in order to learn about all of the options that may be available to you. Debtors who are in need of debt relief my file for chapter 7 bankruptcy or chapter 13 bankruptcy. A chapter 7 bankruptcy allows a debtor to discharge all of their unsecured debt so long as the debt is not considered a priority debt or was incurred from illegal activity. In order to qualify for a chapter 7 bankruptcy, a debtor’s income must be below the median income for their state and family size. With that said, a second mortgage may not be stripped through a chapter 7 bankruptcy.
If you are a debtor looking to strip a second mortgage, you must file a chapter 13 bankruptcy. In addition to being able to strip a second mortgage, a debtor may make up any payments that they are behind through a chapter 13 bankruptcy. A debtor is eligible to strip a second mortgage on a primary residence through a chapter 13 bankruptcy if the primary residence is worth less than the first mortgage, making the second mortgage completely unsecured.
After filing the chapter 13 bankruptcy case, a motion to strip the mortgage must be filed and approved by the bankruptcy court. Having a valuation done on your home will be necessary to determine the actual value of your home. If there is some discrepancy as to the value of the home, you second mortgage lender may object to the motion to strip your second mortgage and argue that the second mortgage is not completely unsecured, and therefore the second mortgage cannot be stripped. If the two sides cannot come to an agreement as to what a home is worth, a bankruptcy judge will determine the value.
If you have additional questions please visit our Seattle Bankruptcy Lawyers homepage to speak to a Washington state bankruptcy attorney.
July 27th, 2011 — Debt Consolidation
When you start any business it is very important to know where you will get the money you need for retail financing. Businesses require a lot of money as seed capital as well as money for the day to day running expenses. You need to decide where you will access the money from. Many people use their life savings to finance their retail business which is not the way things should be done. A lot of small businesses do not qualify for a loan from banks as they usually have poor credit ratings.
To get a loan from a bank or other financial lender there are a few things that one must have. You should have a good credit rating both personal and that of your business. It is important to separate your finances from those of your business. You also need to open a checking account for your company instead of using your own personal checking account and get credit cards for the business. You should also ensure that all the relevant documentation is available such as tax returns and your balance sheet balances. Your documentation also needs to be in order.
For many business owners getting an unsecured business loan is the only option that is available to them to raise money for their business. These loans are offered by financial lenders and they are very popular because they have very simple requirements and are perfect for retail financing. In many cases there is no collateral that is necessary and since most loan applications at the bank are rejected over a lack of collateral this is very important. You can also get an unsecured loan even though you have bad credit as they have very few requirements that you must fulfill in order to get a loan.
The amounts you can receive depends on several factors and there are even unsecured loans where you do not have to worry about monthly payments as they are based on your future credit card earnings. This means that a certain percentage of your credit card earnings are deducted to pay off the unsecured loan and it would not even show up in your credit history.
Retail financing is required for many things such as advertising, paying rent, meeting the daily expenses, salaries, paying suppliers among other things. You can also take an unsecured loan to get the necessary capital to be able to expand your business or to buy new machinery.
July 27th, 2011 — Debt Consolidation
Starting a business can be a very difficult process because of all the details that are involved. One of the main hindrances to any business is the question of capital and how to raise finances for a small business. Many small business owners tend to start their business with savings that have been raised over a long period of time as well as financing from friends and family. How to raise the extra money you need is made easier or harder depending on the type of business that you choose to start.
It is much simpler to obtain finances for a small business if it is a franchise rather than a business starting from scratch. This is because franchises tend to have a proven track record as they are a known brand which makes it easier to gain access to franchise loans. When starting a franchise you will be required to pay an upfront franchise fee and you will also need money for setting up costs and marketing. It is also necessary to have enough money that you can be able to support yourself and family for a year or two as the business picks up. A franchise loan is a good idea as it is able to cover all the opening costs of your franchise.
Another benefit of opening a franchise is that you can get all the necessary help you need from the franchisor. Many times they are even able to organize the franchise loan for you either by giving you the money themselves or by sending you to a financial institution that will give you the money. Besides giving you financial support you also receive technical support which is invaluable as you start your business. A lot of them use SBA loans in financing a small business as this company has been providing loans to small businesses for many years.
The type of help that a franchisor will offer varies from franchise to franchise. In some franchises you will receive a franchise loan for the full amount while other will only give you a small portion. There are also several credit companies that specialize in offering loans to franchises with very reasonable terms of payment.
The international Franchise Association has a lot of different resources that can be extremely useful to small business owners seeking financing. They also help you to understand the whole process and tell you about the various options that are available.
July 26th, 2011 — Debt Consolidation
Earning some extra spending money is about using what you already have, and doing what you’re good at. With a little refinement you can come up with a way of earning money that works for you. Even if you can make an extra couple hundred dollars every month you can put it towards shopping trips, or even your savings account. Also, if you have some bigger goals in mind with your finances then you can take your earnings and roll them back into investments.
Before you know it, you could find yourself sitting on a revenue generating machine that can finance your hobbies for many years to come. The key to earning some extra money is to find a niche and fill it! To help you brainstorm here are a few ideas of how to make money:
- Start With Cutting Costs- If you’re serious about making some extra money on the side, then chances are you’ll need a little startup money. Cut out the luxury items and things that you don’t absolutely need. Things like cable TV, extra phone lines, and valet parking can really start to add up in the monthly expenditure collumn. By cutting back you can use the extra money to make more money. Also, look for ways to save money in commuting. Check out your cities public transit system, or carpool with a friend or co-worker. If you absolutely have to drive your own vehicle you can save money by making it more fuel efficient. Clean air filters, weight saving high-flow exhaust systems, and properly inflated tires equate to less money spent at the pump.
- Build a Website- Are you an expert at something? You can build a website and talk about the things you love and know best. Throw up some Google Ads and get some traffic to your site, and you could make a few extra dollars.
- Be a Consultant- If you have lots of experience in a particular line of work, then there’s a chance people will pay you for your opinion. Build yourself a reputation and you can become quite successful monetarily speaking.
- Property Management- Do you have a property that you’re not using, or a perhaps a room with a separate entrance at your house? By renting out the extra space you can generate some great cash for your pocket. If you’re intimidated by the thought of renting a property then you can call an experienced property manager. They offer turnkey services to provide a hands-off approach for you as the property owner.
No matter what you choose to do make sure that you stick with it. It can take a while for an investment to prove profitable. Finding your own way to generate extra income can be very rewarding and well worth the time and effort.
With our Web Design Phoenix, Skyhook can help you market your business online. We represent RPM East Valley who specializes in Gilbert Property Management.
July 26th, 2011 — Debt Consolidation
Many small businesses are funded using savings and sometimes a small business loan. A lot of small business owners find it difficult to access any credit facilities as they are considered to be credit risks by financial lenders such as banks and credit card companies. Your business loan application will be rejected by most traditional lenders such as banks when you have a bad credit rating or a credit rating of 650 or less. For many business owners they only qualify for a startup loan yet become disqualified when they need a loan for expansion or growth.
For women who have bad credit rating, getting a small business loan can be extremely difficult. There are very few options that are open to them as most lenders such as banks will reject their loan applications. Many business owners turn to friends and family to raise the needed funds which is not realistic as the amount raised in most cases would not be enough. There are a few things that one can do to ensure that you qualify for a bad credit business loans. You should start by ensuring that your personal credit and the company’s are completely separate. You should also ensure that you have all the necessary documents that are needed for your company. Ensure that your company’s paperwork is in order such as tax forms, registrations and licenses.
You should also make sure that all your loan repayments are made in time and ensure that your personal credit is in order as many banks and credit companies check your personal and business credit before giving business loans. There are a few options that are open to women with bad credit who want a small business loan. This include turning to other lenders who offer loans that are unsecured and do not require any collateral.
You can get a cash advance through a simple online application with the loan being approved in a day or less. This is a fast and easy process where there are no hidden or upfront fees required. The amount of money you receive will be determined by several factors but you can receive up to $250,000 in an unsecured small business loans for women with bad credit.
For women who have bad credit and want a small business loan getting a cash advance is the best option as the money can be received as quickly as one week and there are no tax returns or financial statements required.