Your Financing Strategy Ask questions from your bankers which of one these will benefits you most and which one could be costly to you. You can also get free checks when you open your account, you do not need to pay for checks. All checks are processed the same way that is up to you and how you manage your money. -Savings Accounts: Custom Savings, Money Market Account Checking Accounts: Economy Checking, Express Checking, -Regular Checking, Senior Checking, Student checking -Your Debit/Visa Card to use for shopping could be free when you open your account, make sure you ask for it, at times they will ask you if you want one or not. Where you use your Debit/Visa Card to withdraw money matters to your bank, it could cost you for using it at the wrong places, ask your banker for information where you could use your card without paying extra charges... Some banks charges between $1.00 up to $3.00 if you use their card to withdraw money from another bank that they do not do business with. It is your money... Each one of the above has advantages and dis-advantages, be careful when you are opening your accounts; you could loose money to the bank right away. You also need to know if your monthly statements are going to be free or not, when you make inquiries, the bank could be charging you for too many inquiries. Some things are free from the big banks and something's are cheaper from the community banks. Basic Requirements for lending you money: · Savings and Checking Account · (2) Good Credit or No Credit it depends where you are getting the money. · (3) Collateral such as your House, Car, Boat, Gold/diamond or any valuable assets they can hold on · Driver's License, · Social Security numbers · Good Employment, at least for six months. Lenders Information: Big Bank requirements- Can be very tough to meet because they have to abide by the 'Federal Reserve Bank or Federal Deposit Insurance Corporation (FDIC)' regulations. They got their money from the Federal Reserve Bank at a lower rate, however, they could turn around and loan it to the smaller banks at a higher rate, and the smaller banks loan it at higher quote rate to the public. Community Bank requirements/Credit Union: Well, the community bank is no different either, they turn to the big banks to borrow money at a lower rate so that they can loan it to their customers/clients at a higher rate to make some profit to stay in business. Private Capital market requirement: This is where the business gets tougher. The Capital Market enterprise is a big boy on the Wall Street, where they can finance just about anything they like, because they are not being regulated by the government, it is an individual rich businessmen that have money to loan out at a higher rate. They are not required to follow financing rule rigidly as the bank does, but they still have follow the consumer law that protect all of us from being taken advantage of. Family friends requirement: This one is your best source of financing, if you could find a rich friend or family friends that can loan you money without any attachment or collateral. They may ask you to pay them some small interest, or none it all depends what you are using the money for, at they would like to get a piece of the apple when they know you are going to make a lot profit. Collateralization: There some companies out there that would loan you money to meet your emergency needs, but becareful, they may ask you to give them your house, car, motor cycle or any of your valuables for collateral just in case you were unable to pay them back, but, they are very quick to take your valuables and you may not have any re-course to take them to court for doing so. I would stay away from such financing unless you have to... There is going to be a time when we are going to need finance or re-finance our mortgages, car, motorcycle, big boat, air-planes etc., that we cannot come up with up-front lump sum money to pay for it This force us to turn to our bank, family friends, private capital market, small loan companies to loan us that money. This is where we are being taken advantage of by offering us some sort of un-affordable rates. At first you would think this a great opportunity that it will not be problem, you could afford that payment being offered to you by your lender, you better think again before you sign that dotted line. They could be collecting interest from you money for long time without any of it going to your principle. Pay attention to dotted Line and Small print in the loan documents: The loan documents can be very tricky to read when you are not an attorney, the small fine prints areas are very important areas to pay attention to, because this is where they hid rates, timeline, and warrante, but if you don't pay attention to the rates they quote or offer to you in the loan document that you are going to sign you could be losing a lot of money. You probably better off to take to your attorney before you sign the dotted line. In the fine print of the loan documents is where they hid most important information that your lender did not want you to know about, especially mortgage and credit card documents. It sounds strange, but it is true, If you don't believe what I said here in this document, go to your loan documents and read the small prints in there you may find out something that you would not like to see or hear about, or if don't believe what I said here, ask yourself a question of why didn't they just print the whole loan documents in a readable format with nice fonts that an average third grader can read and understand it without having to scratch their head or look up words in the webster dictionary for interpretation of words, after all you are the consumer paying them for this services and they will be collecting interest from your financing for such a long time. 95% of mortgage homeowner never gets to the point of paying principle or their mortgage finance off before being taken away from them, but the bank or private investor already started to benefit. Yes, I understand they took the risk to finance us. I think what is fair is fair, they should make the loan documents more readable for us, and there should be no small prints that is had to read on any loan documents. They should be in a readable format that average Joe can understand; my question all the years was why are they making it so complicated to read if they do not have anything to hide? I also think the loan documents should not have so many pages when we are talking about saving the threes... Not too many consumers read all these pages, it has no value to have so many pages when no one really reads it, of course the attorney will not be making money if they these document could be reduced to minimum. My solution to this big fat loan documents should be to reduce them to minimum, all it should it be contain is, who own the house, the rate, how long is going to be paid, warranty, borrower's and co-borrower, and all other very valuable information it should not be more than 10 pages long.
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Lepas 2 Tahun Kena ‘Stop’. Ini 7 Risiko Kalau Lengah Ajar Anak Cerai Botol Susu






























Yes, You Can Still Finance Your Franchise Purchase Got turned down by your bank for a franchise purchase loan? Know that you are not alone. Or, are you afraid that you will get turned down for that loan? Sure, it is a common fear these days as getting a business loan or franchise loan can be very frustrating. But, with a little knowledge on your side you can alleviate that fear and start charging forward in your franchise purchase as you will never get anywhere unless you start moving forward and moving forward right now. Keep this in mind: All business lending dropped off after the financial crisis in 2008 including Small Business Administration (SBA) lending. Yet, over the last few years, while bank lending still remained stagnate, the SBA had some banner years in regards to the number and amount of small business loans they backed - no where near what they were doing prior to 2008, but they have had some good lending years recently. And, on top of that, according to the Wall Street Journal: "About 10% of all SBA loans go to franchisees, with the size running between $250,000 and $500,000, and maximum of $2 million." So, if they can do it - these 10% - then so can you. You just have to start with the following 3 key issues in mind: 3 Key Issues To Improve Your Chances of Financing Your Franchise Purchase While there is a great deal of individual items that go into getting a franchise loan approved, the following three items are the foundation on which all those other requirements (and ultimately your approval) will be based on. Get these three things right in the beginning and you improve your chances of getting that needed financing by ten fold: 1) Credit Matters. Your personal credit matters. Any lender - be it for a franchise loan or be it for a personal home loan - will pull your personal credit report and the personal credit report of anyone whose name is on the credit application (or that is on your franchise purchase agreement). And, if you have problems here - meaning that your credit score and credit history is not in the stratosphere - then you need to get that fixed before applying. And, the good news is that it is not all that hard to do. Simply pull your credit report and see where you have problems. First - make sure you are paying your current bills on time and as agreed. If you are late on any of them or have been late - then catch them up right away. If you are not willing to do even this most simplest of tasks - then why would a lender be willing to lend you a large chunk of money that they may never get back? Second, according to Bankrate.com; your credit limits and your balances are key in improving your score. "One of the major factors in your credit score: how much revolving credit you have versus how much you're actually using. The smaller that percentage is, the better it is for your credit rating." And, lastly, according to myFICO.com; "Don't close unused credit cards as a short-term strategy to raise your score. And, don't open a number of new credit cards that you don't need, just to increase your available credit." Bottom line is that you should only have the credit you need and then manage that credit as you are expected too - and you will never have to worry about your credit score again. 2) Down Payment. No matter what type of loan you are seeking from a bank or other business lender, all will require that you have some "skin in the game" as they say - a sharing of the risk. This means that you have to put your own money down to get your loan approved. The lender thinks that if you put some of your own money down, you will work harder to ensure that you don't lose that money and the only way to ensure that is to continue to make loan payments to the lender - no matter what. So, the question becomes how much down? According to Bernie Siegel, founder of Siegel Capital LLC and a broker of small business loans; Prior to the financial crisis, "the range was typically 10% to 30% of the franchise start-up costs, with 20% being the most common figure. In the present atmosphere [however], we have seen some lenders move from 15% to 25%." That is a lot of money for a down payment. For a $250,000 loan, your down payment would range from $37,500 to $62,500. Or, for a $1 million loan, you would have to come up with some $150,000 to $250,000 in cash out of your own pocket to get your loan. While this is not an easy concept to digest, know that this is the way it is. So, quit worrying about it and look to find ways to raise that kind of capital - without your down payment, you cannot move forward. 3) Collateral. Lastly, collateral. All lenders these days are afraid of not getting repaid and facing again the scrutiny they did during the economic meltdown of just a few years ago - so they are doing more things to make sure that they are 1) approving better loans from their prospective and 2) making it harder for borrowers to get those loans - thus those that persist enough to actually get approved and usually the ones that pay. So, like requiring a down payment, lenders also require that you put up enough collateral to cover the loan's principal. And, the amount of collateral is rising each year. When asked about how much collateral is needed these days, BusinessMart.com, claims that; "Collateral requirements were previously around 40% of the franchise costs. However, now that amount is closer to 100%." This means you will have to come up with some form of collateral - business or personal - to cover the entire amount requested. Hopefully, your franchise will include property and equipment that will cover the majority of the collateral requirement - but, if not, you may have to put up your personal home, your personal vehicles, your personal stocks and retirement accounts and so on. But, in the eyes of a franchise lender, if you are not willing to take a risk on yourself, then they are not willing to take a risk on you either. Conclusion Now, having said all that, know that franchise lenders are in the business of lending money and if they do not lend money they will go out of business. So, they do want to lend. And, most all business lenders love franchise businesses as they have solid business models, great name recognition and a huge network of knowledgeable persons willing (either on their own or because they have a monetary reason to do so) to help you and your franchise succeed. But, they also have been burnt too many times and, in combination with this poor economy, are being extremely cautious - as putting out bad loans will also force them out of business. However, if you have your loan foundation in place - your credit, your cash and your collateral - in place, then you have already surpassed any lender's initial screening process which should get you that one needed chance to sell yourself and your franchise to get your loan approved. Can't really ask for more than that. Capital LookUp - seeks to make your capital raising efforts easy. On our site, you can search for a myriad of different business loan products from financial institutions and business lenders in your local area, in your region, in your state or nationwide. We seek to simply make your capital raising process an easy and productive venture - allowing you to quickly get back to focusing on what you do best, growing your business.




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