Secured Business Loans – Build a Business at Low Cost Finance

For starting a new business or expanding the established one, huge money is the first requirement and concern of a business person. Another concern is to get a loan at cheaper rate so that cost of the business gets reduced. Both the primary but essential requirements are well met through secured business loans. Secured business loans are cheaper source of finance for business people. The loan comes in the hands of business persons in time and without many enquiries and even bad credit business people avail the loan in an easy manner.

As is clear from the term, secured business loans are provided on any of the borrower’s property being taken by the lender as collateral. Usually a property like home or any business concern that has substantial equity in it, is taken as collateral. Having secured the loan, the lender can offer many advantages to the applicant. Secured business loans have this benefit of lower interest rate for the business people. A lower interest rate goes a long way in making the business more profitable. The burden of the loan also is not felt much. Usually businesses require huge amounts. Secured business loans come with greater borrowings. But the amount to be borrowed depends a lot on some factors.

A lender while deciding on the loaned amount will first see the amount of equity in collateral. Surely he would not like to risk more amount than the equity in the property of the borrower. Lender also would like to see the income generating capacity of the business. So for greater amount, better show the lender that the business has the potential of making money. Do not forget that every lender’s prime concern is to ensure safe return of the loan.

Repayment duration of secured business loans can be negotiated with the lenders and one can take larger repayment duration as per his financial capacity. The loan can be paid back in up to 30 years. Such larger repayment duration is of great help as business people can spread the loan in larger number of installments thereby reducing the monthly monetary outgo. Thus lot of money can be saved for other business usages.

Are you labeled bad credit? Secured business loans are provided to bad credit borrower without many enquiries. This is because in case of a payment default, lender still is able to recover the loan on selling bad credit borrower’s property placed with the lender as collateral. So the loan has no major risks for the lenders.

Compare different secured business loans providers for their individual interest rates and terms-conditions. After selecting a suitable lender, apply online to him. Online lenders of secured business loans process the loan application faster so that the loan amount is in the business person’s account in time.

Surely secured business loans are cheaper source of finance that is crucial to the business people. Make the best use of the loan and pay off the installments regularly so that lenders faith in you builds up and further loan availing becomes easier.

Posted by / April 18, 2016 / Posted in Loans

Idea Businesses – Getting People to Pay For Your Ideas!

It never ceases to amaze me how much money people will pay for a good idea these days. The question is how you go about being the person who GETS paid for those good ideas. If you have an area of expertise, chances are that somebody needs it!

Think about what it is that you “specialize in”, and who would need those services. If you are great at managing inventory – say you used to manage a restaurant, you could conceivably market yourself as an inventory management consultant, and review sales figures in order to determine how much of a given product to order.

Sometimes, you can work backwards, and look for different branches of consulting-see if any of them apply to areas of knowledge which you possess. If not, feel free to create one. As long as it describes what you do, you’re fine. A word of caution – don’t be too specific, you don’t want people to think that what you offer, isn’t what they want!

You can also redesign your job title. One of my buddies from college was a graphic design artist one day, doing logos, and 2 weeks later he was an advertising consultant, doing complete media and marketing packages – but making over 3 times as much money!

All it takes is a little bit of ingenuity and a stack of business cards. With cards in hand, give them to everyone you know. The words “consultant” and “services” usually stand out.

Think about it – “graphic design artist” or “graphic consultant services.” For some reason, seeing those two words together prepares your potential clients for the added value – and cost to expect from you.

10 Things to Do in 90 Days to Help You Expand the Horizons of Your Product Development Business

Here is your ‘to do’ list of easy tasks to help you quickly expand your product development business. Shopping, travel, adventure?

Want to expand your horizons as a product developer, internet marketer? Accomplish the ten tasks listed and you’ll be on your way.

  1. Attend a local product sales show (and take your camera). Go to a collectibles show, coin show, antique show, gun show, RV show, boat show, health & fitness show, whatever is available in your area – and take your camera. Shoot photos of exhibits that are attracting a crowd. Shoot photos of signs, booths, outside exhibitors, gypsy exhibitors, trailer vendors, etc. Collect any handouts, marketing documents, price lists, future exhibition schedules, and anything else that pertains to working or exhibiting at trade shows. Begin a reference file of documents and photos of how to participate and create effective exhibits at trade shows. You’ll refer to these materials later on when you exhibit at tradeshows.
  2. Spend at least half a day at the largest flea market in your area (and take your camera). Take time to discover the niches that the various dealers have carved out for themselves. Look for oddities that could be resold on eBay. See what people are buying. Take pictures of interesting exhibits. Collect any handouts, marketing documents, price lists, future schedules, and anything else that pertains to working or exhibiting at flea markets.
  3. Visit a large computer / high technology store. Find the largest high tech retail store, and spend a few hours there looking through the latest high tech offerings. Look closely at computer accessories, video cameras, and computer networking technology. (I did this just last week and was astounded at all the new gear – I found things I never knew existed, but can immediately develop products with or about). Collect product brochures on products that you might be able to use in your business. Look for special prices on closeouts . . .
  4. Attend a training workshop. Find a one day training workshop on any subject that interests you. Attend and pay attention to how the workshop is organized. If permitted, take photos of the stage, the registration desk, any signs, serving tables, product displays. Collect copies of all the hand-out, registration, and marketing materials used to promote and manage the event. You will be using this material later as reference when you eventually produce your own training workshops. (The more training workshops you attend, the more reference material you can collect.)
  5. Visit a large book store with an extensive magazine collection. Spend some time looking at the number of magazines that cover specific niches. Look for trends of increasing or decreasing magazine covering specific topics. Find and buy magazines on subjects you know nothing about, but seem interesting to you. Read the magazines you buy, especially the letters to the editor and the ads. Look for opportunities to solve problems. Look for interesting technologies and topics that might be your future niche.
  6. Build your eBay feedback score to at least 30 If you don’t already have an eBay buyer’s account, get one. Then buy at least 30 items to build your eBay feedback score to at least 30. Doing this will prepare you for future eBay spot opportunities. And if you don’t have a PayPal account, get one – you’ll need it.
  7. Get an eBay Sellers Account and sell a few items on eBay – After you get your feedback score above 30, get an eBay seller’s account and sell a few items on eBay. Download and use eBay Turbo lister to create your auction listings, and try to list at least one auction a week for the next 8 weeks. Get your total feedback score to over 50 is a real milestone. At that point, you can sign up as a registered eBay Trading Assistant and sell items for other people.
  8. Go to nearest big tourist destination. Visit the nearest large tourist town and take your camera. Make it your goal to pick up all the free brochures, flyers, maps, free newspapers, and other marketing material you can find for businesses and activities in the area. File these for later use as reference material for product ideas, business examples, and marketing materials. Take photos of interesting businesses, signs, promotions, exhibits . . . and save these for future reference. Who knows – some day you might want to get into (or write about) some of the interesting businesses you’ve found.
  9. Spend an afternoon shooting a video, then edit the video and burn to DVD. Find a subject that interests you (many a mini-documentary of your dog’s life). Shoot some video footage, then edit the video on your computer, add titles and background music, and burn the results to a menu driven DVD. Learn what tools you need to get the job completed, and get it done. Learning to produce interesting videos is a strong path to profitable product development.
  10. Find your current passion. Forget about making money. Find something that interests you so much you’d actually pay to do it. Find a hobby or interest related to something fun. Say it with me: “Fun”. Find something that can keep your attention for at least a year. Something fun. Something that probably costs money to get involved. Something that probably has the attention of tens of thousands of other people. Then dig in. Research the topic, discover the missing opportunities, and use the skills you’ve gained doing the nine tasks above to create and market a product.

If you accomplish all the above tasks, you will have developed the basic skills necessary to research, develop, and market products. And if you accomplish item #10, you’ll have a direction to take your business – a niche that follows your passion.

Secured Business Loans: Before You Take That Big Business Leap

Business loans form a significant part of lending industry. With so many people applying for business loans, you must be wondering how many of them actually get them. The increase in amount of business loan every year shows the swelling in approval rate of business loans. So, what are your chances of getting business loans? I say, attach a security to business loans and your chances are bright. Secured business loans are loans for specific purpose namely business. There is no better terminology for business loans with opportunity.

Before you apply for secured business loans check out you borrowing capacity. Every business is different which means there will be no universal method to know the cost and therefore budgeting is important. This enables you to deduce whether you can afford secured business loan or not.

Tuck in those documents! Generally a secured business loan borrower would require few of the documents for approval. First and foremost is the business profile – discussing the nature of business, annual sales, length and time of business ownership. In case of new business you would require to project the loan plan and how the business would be successful enough to pay back the loan. For secured business loans the loan application will also include a loan request. This will include the type of secured business loan required, the amount and the purpose (how the funds will be used).

Since business loan is secured details about collateral will be integral. The collateral and its details, equity available, equity in the business, borrowed funds and existing cash should be included in details of collateral. Along with collateral you would be required to provide financial statements for yourself and your business. Be ready with personal and business financial statement for three years and current financials statements. With secured business loans you will be asked for owners, partners, officers, stockholders with more than 20% of etc.

A lender looking at your Secured business loans application will search for repayment. A borrower can provide a brief repayment statement which includes sources, cash inflow and other information to support it. With secured business loan you are providing collateral which will mean an additional form of security for the lender. This the lender will certainly like! He will have additional repayment to fall back on when you don’t have required funds to payback the loan. Both personal and business assets can act as collateral for secured business loans. If the business loan borrower does not have collateral he should have co-signer who should have collateral to pledge. In a secured business loans application, collateral will be the second most identifiable source of loan repayment after business cash inflow.

A lender will inquire whether your personal or business credit is good or not. Get your latest credit report and make sure it carries accurate information. As you have applied for secured option it means that you would have better choices. However, credit score will modify the interest rates you get for secured business loans. With bad credit score you will be paying higher interest rates as compared to ones with perfect credit.

While preparing to get money it is important to see your financing options. There is both a financial and emotional component while borrowing secured business loans; your property is at stake. Make sure you are ready for it. Then do some market research. Take it as a test where you have to get the best grade. You would probably not start a business without researching the market; make sure you follow this rule while settling on secured business loan. Yet do remember that time is money. And don’t waste too much time in settling on the option.

Every big business starts out small. Secured business loans are in fact the first thing that comes to the mind and provide fundamental opportunity when one is raising money for business and can provide to those who are to those who are looking for funds for business purposes. Secured business loans are what you need when you are looking for business loans with security.

Posted by / April 6, 2016 / Posted in Loans

What is Business Intelligence? The Understandable Answer

Selling Business Intelligence software is like selling a heater to an Eskimo, when he thinks it’s a refrigerator. (Yes, we know Eskimos are now called Inuits, but that’s not the point.) Ask 100 Business Intelligence (BI) experts for an explanation and you will receive as many different answers. Think of Microsoft’s “Surfin’ CEO” TV commercial. Who understands that?

So here is one more answer, hopefully a bit more understandable. Business Intelligence is using existing data to generate the WHY questions about your business. Huh? Stick with me, you’ll get it.

Normally in business we are looking in our data for the answers to questions; the who, what, when, and the how much. Your accountant’s balance sheet answers the how much. HR’s payroll answers the who gets what. The factory floor’s inventory list tells us when to order raw materials.

BI, on the other hand, does not answer any specific question. Instead, it strives to find the WHY question you didn’t know to ask. BI software tools allow you to examine data at different viewpoints. By doing so you start to notice patterns – and more importantly – you notice when patterns are out of whack.

Let’s dig a little deeper with a simple example. Your retail business has sales data. At each sale you record a number of things; what was sold, how much, in what store, was it cash or credit, and so on. You may seek the answer to “how much was sold in each store?” That’s simple enough to query your database and answer that question. With BI, however, you start with the premise of not knowing an exact question. The software tool allows you to query data dynamically. That means you may look at the sales for all stores, and then look at the same sales by product, or product group, and then by salesman. All this is made as intuitive as possible, with just a few mouse clicks.

In one view of the data, you notice a few stores generate more cash sales than credit card sales. Your margins are better with cash, which you like. The BI software has asked you, “why are these stores attracting cash paying customers and not the credit card bandits?” Think hard, this question is for you, the business owner. It so happens there are ATM machines next to those stores with high cash sales. Ah-hah, the eureka moment. You remember a phone call you had a few weeks ago with your bank’s sales guy. He wanted to put ATM machines in your store lobbies at no expense to you. It’s time to give that guy a call!

Ok, that example was a little far fetched. But you get the idea. Business Intelligence is that little five year old that won’t stop asking why, why, why. Just listen to those questions; there are great insights in them. So much so that those questions have turned BI into a $10 billion a year industry.

Business Loans – Information for Business Owners

A business loan provides financial aid to business of all sizes (i.e. small businesses, medium-sized businesses or start-up businesses). It is ideal for business owners who need funding to enhance or expand their business. When you need a loan for your business, you must adopt a strategic approach. Cautious planning is necessary for ensuring success in obtaining business loans.

Business Plan

When you are considering applying for a business loan, it is important for you to take enough time to create a convincing and detailed business plan. Your business plan should include information, which will assist your finance broker as well as the lender/credit provider in providing you with the right type of finance and advice. Here is a list of information you should include in your business plan:

>> Your business structure

>> The purpose and goals of your business

>> Your past and future plans for your business

>> The profit and loss projections and cash flow forecasts of your business

>> Your marketing strategy (i.e. the products or services your business provides)

It is also important to state in your business plan the specific purpose for which you want to use a business loan.

Decisions to Make

Once you have assessed your needs for a business loan, you should investigate which finance products suit your needs for a business loan as each loan has varying features for you to choose. To help with this process, here is a list of things to consider and which you can discuss with your finance broker:

>> The loan amount required

>> The loan term (i.e. the period in which the loan will need to be repaid)

>> Interest rate type and repayments (i.e. fixed or variable)

>> Loan fees, and

>> Loan security (i.e. the type of security offered by you)

Finance Products

There is a variety of business loans available to choose from. Here is a brief summary of common business loan products specifically designed by lenders/credit providers for business owners, which can assist your individual situation as a business owner:

Commercial Bill Facility

A commercial bill (also called a bank bill or bill of exchange) is a flexible credit facility that can give your business a short-term or long-term injection of cash. The finance provided by the commercial bill can help your business in the event that you may need to solve an unexpected or urgent problem, and you do not have the required cash flow. You agree to pay back the face value of the commercial bill plus interest to the lender/credit provider on a specific maturity date.

Overdraft Facility

The purpose of establishing an overdraft facility is to provide working capital for your business in the short-term, before receiving income. An overdraft facility should not be used for capital purchase or long-term financing needs. The overdraft is a normal trading account facility for your business, whereby the lender/credit provider permits you to use or withdraw more than you have in the trading account. But, only up to an agreed amount and any negative balances typically need to be repaid within a month.

Line of Credit

A line of credit (also called an equity loan) can provide access to funds by allowing you to draw an account balance up to an approved limit. The loans are designed as a long-term debt facility and are usually secured by a registered mortgage over a property.

Fully Drawn Advance

This is a term loan with a scheduled principal and interest repayment program. The loan provides access to funds upfront, which can be used for funding long-term investments that will expand the capacity of your business, such as purchasing a new business or even purchasing equipment. Fully drawn advance loans are usually secured by a registered mortgage over a residential or commercial property or a business asset.

Short-Term Loan

A short-term loan can provide short-term funding needs for your business. You can take out a short-term loan if you want to take advantage of a very quick financial opportunity or to help you get out of a financial cash flow crisis. The loan offers a fixed sum advance and requires a periodical interest charge to be paid by you. Short-term loans typically require a security to be provided.

Business Equipment Finance

If you decide to expand your business operations and take benefits of potential tax advantages, you should consider taking out business equipment finance, as the finance arrangement allows you to buy, lease or hire a new vehicle or specialised equipment (e.g. cars, trucks, forklifts, printing, computing, medical and office equipment as well as plant equipment and machinery). Typical finance arrangements to consider for business equipment finance are asset lease, commercial hire purchase, chattel mortgage or equipment rental.

Truly, there are several finance products available in the market to help business owners. When you seek out finance for your business, don’t be in a hurry. Consider all the alternatives in detail and then choose the one that is right for you and your business.

Posted by / March 27, 2016 / Posted in Loans

Record Keeping For Small Businesses

Keeping good records can be frustrating when you don’t know what to keep or how to organize it. However, not keeping good records can cost you a lot of money when you turn your documents over to your accountant and even more if it causes you lose tax deductions.

Business Records – Create a simple system for keeping records that are required by the IRS and your tax preparer. The better the records, the more you will save on taxes and that is just good business!

Accounting is basically just information. It comes in the form of accounting reports and their supporting documents. Bookkeeping is the part of Accounting that manages all of the documents. Keeping receipts and vendor invoices. Keeping sales records and deposit slips. Keeping bank statements and cancelled checks. These items are recorded by the bookkeeper in what we referred to as the “The Books”. Get it? Book-Keeper. Clever, eh?

There are three very good reasons for a simple comprehensive record keeping system.
1. Cost Savings – Not only will you pay top dollar for someone to weed through the mess, it will take them a long time to decipher what everything is. And time is money. In this case, your money.

2. Tax Savings – There is no one out there that can identify tax deductions better than you. I know, I just told you that is what a CPA is for. But, you still need to provide the paper trail for them to “travel” on.

3. Accurate Reporting – I am sure you have heard the phrase “Garbage In, Garbage Out”. That certainly applies here. Is your accountant forced to fill in the blanks and making “educated guesses”?

Even if you decide to use a program like Quickbooks, you will still need to manage the documents. Having owned several small businesses, I know what a nightmare tax time can be when you have to re-create several months’ worth of documentation.

What are business expenses? That will depend on your business and the deductions you will be allowed to take. Here are a few of the standard business deductions for costs directly related to your business:

o Cost of Goods Sold – any expenses that are incurred as a direct result of providing a product or service.
o Advertising – newspaper, yellow pages, radio, or AdWords for internet marketers.
o Vehicle Expenses – gasoline, oil, tires, depreciation, etc.
o Telephone – Business phones and cell phone
o Insurance – business, auto, liability
o Office Supplies – paper, pencils, computer supplies

You get the idea.

Business expense records can include any type of documentation that provides information to substantiate your expense. For expenses, you will have several types of payments:

o Receipts
o Accounts Payable
o eBay, PayPal or ClickBank
o Credit Card Receipts
o Debit Card Receipts
o Check Payments
o Bank Fees

Business Income (money coming into you business)

Business income records are any type of documentation that provides information to substantiate your income. Income can show up in a number of areas:

o Sales Invoices
o Accounts Receivable
o eBay and ClickBank
o PayPal
o Deposits

Put all of these items in folders by month for easy access. Put all income items on one side and all expense items on the other side. Turn them over to your accountant or use them when you enter the data into your bookkeeping system.

Creating a simple system for record keeping should not drive you nuts. And the time invested will save you time, frustration and money at tax time.

Down Payments On Business Loans And Where You Can Get Yours

All small business lenders – banks, private lenders, alternative financing companies, SBA, etc. – have one major thing in common. They require some form of down payment.

Let’s say that you are requesting an unsecured business loan from your bank. And, you are asking for $80,000 that you want to use to purchase some inventory and supplies as well as to bolster your marketing efforts.

And, your bank approves that request. However, they only approve 80% of your requested amount or $64,000. What?

Or, your business is in need of a new routing machine to handle your ever increasing customer load. The equipment costs $50,000. Your lender approves your request but will only fund $40,000 or 80% of what you need. Huh?

Or, your business has $100,000 in outstanding invoices just waiting to get paid by your customers. Yet, you have new orders coming in everyday that you just do not have the cash on hand to start or complete. Therefore, you approach an asset based lender or accounts receivable factor and ask for an advance on those invoices that will pay within the next 30 days. However, the lender will only fund 80% or $80,000 against those invoices – even though they take control of 100% of their face amount. Really?

Down Payments

Why do lenders require down payments? It all started with banks centuries ago. They determined, through trial and error – mostly error – that if a borrower were to put at least 20% down – have 20% of their own money attached to the loan – then they are 80% less likely to just walk away from that loan should the going get tough.

Thus, they determined that 20% in a down payment was both enough to better ensure that their borrowers will repay those loans – the one thing they want the most – and that 20% was enough of an amount (high and low) that only serious borrowers would and could be able to raise that amount.

In fact, when the government got involved in the banking and lending industries, this down payment figure of 20% was one of the first things that they agreed on as a standard practice and now hold these lenders to that standard.

Bottom line is that having a down payment in nearly all lending – mortgage loans as well as business loans – is now the standard and is already calculated in their underwriting process. Thus, you request a business loan for $100,000 – the lender already marks it down by 20%.

Now, leave it to the SBA to throw a wrench into this discussion. The SBA has a business loan program – their 504 loan program – which helps local small businesses finance commercial real estate or business equipment in their local areas. These loans are secured – 100% – by the real estate or equipment. Thus, with this specific loan program – this secured loan program – the SBA lowered its down payment requirement to 10%. Still a down payment but less of a burden on the borrower.

Types Of Down Payments

Now, there are essentially two forms of legitimate down payments.

1) Simply cover the 20% with your own cash. You need $80,000 for your equipment purchase, the bank will provide 80% or $64,000 and you cover the other $16,000 out of your own pocket.

2) You have built in equity in the item being bought with the loan. Here, you are buying a commercial property to expand your small business (and quit paying outrageous rents). The purchase price is $250,000. Yet, that price is only 80% of its market value – the market value is $312,500. Thus, the difference between the purchase price and the true value of the property is the 20% – 20% equity in the property.

Where To Get That Down Payment

There are several ways that you – the business borrower – can get that required down payment as most small business owners either do not have that kind of cash on hand to cover the 20% or just do not know where to obtain it.

Don’t Pay It:

1) Negotiate with the lender. While this does not provide you the equity to put down – it can alleviate that requirement all together. If your business is strong enough and the lender really wants to work with you – then negotiate that requirement away – and get that lender to cover 100% of your needs.

2) Negotiate with the seller. If you are buying a physical asset like equipment or commercial real estate then negotiate the price to 80% of the asset’s value. Kind of hard to do these days with property values being as low as they are and that most equipment vendors do not have control over their prices – but, if the person wants to sell as bad as you want to buy – then they will find a way to work with you – they always do. MSRP prices are more wish lists then actual prices.

Find The Money:

3) Personal loan. Do you have equity in your home or other personal assets? Can you get a personal loan based on the personal income you do have? Can you tap some other source of personal income or equity – that 1) does not relate to your business and 2) does not put an additional burden on your company?

Most lenders will find out about all of your business debt and most of your personal debt during their approval process. Know that with the business debt, they will include that in their underwriting process when approving your business loan request. And, if they find out that you took another business loan to cover your down payment – they tend to frown on that. But, if they find out that you have a personal loan – even if they know that you did that to cover your down payment – it is still a personal loan and something that ties you personally to that new loan request – means you might get away with it.

Or, try to get a personal loan from a friend or family member. This way, it is not reported anywhere and very hard for the new lender to find out about it. This could be a loan or even an equity injection for stock or ownership in the company. Either way, it should not directly affect your new loan request.

The idea here is simple. Let’s say that you need a business loan for $100,000. You request that amount at 8% for three years. This would set your monthly payment at $3,134. But, if the lender will only approve and fund 80% or $80,000 – then your required payment would drop to $2,507 – leaving the difference of $627 to cover that personal loan you need for the down payment ($627 is more then enough to cover the $20,000 personal down payment loan for the same term at the same rate).

4) Sell off unneeded or unused assets – personal or business. This way you get needed money from assets that you don’t need or want and you don’t have to pay that money back – it is free and clear for you to use. Thus, while you are only getting 80% of your requested loan amount – you only have to pay for that 80%. And, the $627 difference – outlined above – is money that you now don’t have to pay to any lender – it is added money in your pocket or for your business.

5) Lastly, use your business. Let’s say that your business needs a $100,000 to expand. Now, it could get a loan now or it could save up its own money – its own profits – for the next 3 years (your business has to be generating some form of profits for you to be able to afford the loan payments in the first place – thus, it can just save that money itself).

But, not wanting to or not seeing it as a viable option to wait 3 years – your business can just save that money (profits) for that down payment only – save for 7 months or so to get that needed 20% – then request the loan. This would have the same benefits of selling off assets for that needed cash without losing the use of those assets. The only requirement here or burden on the business is time – the 7 months.


Down payments are one of those facts of life like death and taxes. If you are seeking a business loan, you have to think about how you will come up with the down payment.

Know that with anything in business – this challenge can be overcome just like you overcome all other challenges – by working them out. This means that where there is a will there is a way and the best way to handle this financing requirement is to know about it up front and plan for it from the very beginning.

Far too many business owners – who finally get to the point that they can seek outside financing to take advantage of growth opportunities – end up only getting that down payment slap down – having not known of the requirement before applying for their business loan and ultimately getting that request turned down.

Don’t let this happen to you – especially when it is you who can prevent it.

Posted by / March 17, 2016 / Posted in Loans

Business – Which Premise Shall I Choose Exactly?

So, you have your business idea, business plan and you know which community you want to work and live in. You have come long way from those early days when running your own business was a pipe dream. However, you still need to house your business, do you not? I shall assume for the purposes of this article that you have chosen a to, let us say a busy high street to call home. It could be in the financial centre in the inner city or even in a shopping centre for that matter, some of the same principals of selecting the final home for your business are the same.

So you have chosen a busy street, where there is a lot of pedestrian traffic and a lot of cars and some, but generally poor parking. Let us call it High Street. High street is a busy thoroughfare for shoppers and staff alike, it is a sort of link between the financial centre and the housing estates. It is a safe street with plenty of light and not much risk of violence, people are not frightened to stop and look or talk.

You are almost there now, but which side of the street should you choose and which end, or should you be in the middle? Experts say that the ‘going home’ side of the street is the best in general. This is because people buy a lot more going home from work that going to work. They do not want to take care of their purchase all day; if it is food they do not want it to perish. Furthermore, most people are on a tight schedule getting to work. On the other hand, a lot of people ‘comfort buy’ after a hard day at work.

The next point surprises most people. Should you buy the sunny side or the shady side of the street? I like to walk on the sunny side, but repeated surveys show that people shop more on the shady side. Check out your street yourself. If you live in a hot place, go for shady, if cold, I would spend a couple of days in a coffee shop with a notepad for statistics. If you can get on the ‘going home’ side but it is also the sunny side and people prefer shade, where you are, put up an awning so that people have a reason to stop and look in your window.

Once you have the side of the street sorted out, it is time to check out the individual premises that are available. in order to accomplish this, you will need to do a traffic count. If cars cannot park, then cars are irrelevant. However, passers-by are your lifeblood. So, you will need to pofile your potential customers and learn to recognise them. There is no need to count women if you are opening a barbers. This is no need to count bag-people, if you are selling expensive leather coats.

Next, you will have to choose your days carefully. Beware holidays, Fridays and the ands of the month. Divide your count up into 30 minute intervals as that will help decide on (part-time) staffing later. Decide where you will count. just people walking past the target or within sight of it? Or at the nearest car park or bus or train station entrance to the High Street. Do several and compare and cross-reference them.

How A B2B Business Loan Works

A B2B business loan essentially begins with the person who wishes to start their own business or enhance the business that they are now operating. A B2B business loan should start with research as many different interest rates apply, time to do pay back, and of course it is important to be able to renew the loan.

The most requested is the unsecured business loan. Meeting the requirements might pose a pose a problem unless you have a very good credit score of a minimum 680. You must also have a lower debt ratio in order to get a higher loan amount. The B2B business loan for those who are seeking an unsecured loan must have good credit. There are benefits that make it easier for a business to obtain the loan with good credit. The following benefits apply:

o NO Collateral is required.

o NO Financial statements are required.

o No Business plan is required.

o Quick approval usually within about 72 hours.

o Complete freedom on use of loan proceeds.

o For this program you must have a Dun & Bradstreet number, high payday, and comparable credit.

o Minimum low 4 daily balances in your business bank account.

The average interest rates will fall between prime +3 – prim +9 which depends on your credit and debt ratio. The terms of this type of B2B business loan normally are
$1100-$1600 a month per $50,000 financed on a 5 year term dependent on your credit.

We have researched several B2B business loan financial institutions and found that Noble Financial is the leader in obtaining unsecured business loans. They currently have business in all 50 states. Business owners do not have to pledge personal or business assets to receive approval. There will be no liens or UCC filings. Noble Financial boasts that using their facility is a powerful alternative to visiting your local bank. An unsecured business line of credit is an extremely valuable business tool that most business cannot afford to be without. Lines of credit can be renewed indefinitely which is most certainly a tool used by most business owners.

The mid size and large business owner usually has multiple means to secure a business loan with or without any collateral. The smaller business person on the other hand had problems. The problems in the beginning were many as no wanted to risk loaning to a small business. The federal government started offering grants to help but this took a lot of work to get and maintain. Finally, major companies like Visa, MasterCard, and American Express saw the advantage of B2B business loans. These companies already accommodated the consumers with their charge cards. After careful consideration a plan began to help the small business person.

At the heart of commerce is a driving force called MasterCard. MasterCard enabled trade bringing insight into EURthe payment process. B2B Business loans only seemed natural to a unique company like this. Not only would they profit by loaning to the small business person but they could place their charge machine in their business and make money in that manner as well. Today it is noted that MasterCard has business in over 210 countries. They offer rewarding, secure, and convenient payment solutions.

MasterCard developed a unique three-tiered business. The customer is always at the core of the company’s strategy. It did not take long before the other charge card companies followed suit making B2B Business loans for small business a lot easier and much more convenient.

The focus became clear customers come first. The company developed a unique team that developed a unique method to provide a single point of contact which unified partnerships for mutual success and data mining capabilities. The first tier was to do with Franchisor. MasterCard through thousands of financial institutions markets a strong portfolio of brands and products worldwide. The B2B business loan for the small business now became very easy to obtain. More people wanted to go into business for themselves. The franchise companies were Maestro®, Cirrus®, and MasterCard® PayPass(TM).

The second part of the tier very important was the processor. MasterCard’s streamlined and intelligent approach to processing put the company on a worldwide scale in commerce.
The speed, integration, and reliability were
what the B2B Business loan for small business needed. The third tier provides industry-leading insight to solutions that made payment paying process faster, more seamless, more secure and much easier to track. The B2B business loans finally became easily accessible to the small business man. The process for the business person to get the loan was made simple and not that complicated when applying for the loan. The loan could be partially secured in some cases depending on the business person’s credit. For the business person these are exciting times, a great time to go into your own business.

Posted by / March 8, 2016 / Posted in Loans