Your Credit Score and You
I’m sure everyone’s well aware of how important your credit score is for a variety of different business and personal reasons. A good credit score can save you thousands in interest, while a bad credit score could cost you not only the ability to get a loan, but the rate of
Summary of U.S. Small Business Administration’s SBA 7(a) & SBA 504 Loan Programs
Small Business Administration SBA 7(a) loan program is designed for any qualified businesses to use the proceed for any business usage, including business real estate purchase, construction, refinance, business acquisition, equipment purchase, and business working capital. SBA loans are typically variable-rate loans tied to the lowest New York prime
2005 Bankruptcy Abuse Prevention and Consumer Protection Act
According to Wikipedia, “Bankruptcy is a legal status of an insolvent person or an organisation, that is, one who cannot repay the debts they owe to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor”. Usually, when a person or company is inundated
Is the Economy Really Slowing Down?
According to the most recent reports small business lendingslipped in March a (supposed) sign that companies are losing confidence in the economy. This has triggered some rather negative remarks about economic recovery from the naysayers of the industry. In turn this has caused downturns in the markets. Per an interview
Bank Loans vs. Alternate Lending Institutions
With the country going through its worst financial crisis of the last 70 years, it’s not so easy for small businessesto obtain bank loans. Having said that, there are bank loans that are still available. You’ll just have to work harder to get one. The sad truth is that
Credit Unions – The Small Business Lenders of the Future?
Banks are vigorously opposed to the lifting of the cap because they feel that they are at a disadvantage to credit unions, which don’t have to pay federal taxes or are not subject to certain regulations. The banks are concerned that they will be losing business to the credit unions even as
Business Owners Still Have Access To Working Capital!
As a business owner it must feel like you are starting from scratch all over again. Trying to keep afloat absorbs all of your time. Without a steady flow of new income it’s hard to expand. Income = Capital. Your business isn’t going anywhere without a boost from additional income.
How Safe Is Your Credit Card Processor?
Third Party Payment Handler’s System Breached – How Safe Are We? The credit card industry was stunned last week by news that data from as many as 10 million credit cards had been misappropriated by cyber thugs. Visa and MasterCard rushed to allay the fears of the potential 1.5 million
Rates on the Rise for Small Business Owners
The Latest Challenge – Rising Interest Rates Until more recently, the Feds have been keeping the interest rates at an all-time low. Lately we have seen those numbers, those outside of the control of the Fed, beginning to creep back up again. Should we worry? According to Fed
Starting Up and Operating a Restaurant
Can you take the heat in starting up and operating a restaurant? Despite the economy, those who spend the day on the job don’t want to spend an evening in the kitchen. An increasing number of consumers either want to dine out or take prepared food home. The number