A Restaurant Of Your Own

Top Chef, Iron Chef and Kitchen Battle are cooking shows that really promoted cooking and ignited some people's dreams of becoming a cook and establishing a restaurant. If you are one of those people, you have bumped in to the right reading material. Aside from your dream, what else can you get from having your…

Top Chef, Iron Chef and Kitchen Battle are cooking shows that really promoted cooking and ignited some people's dreams of becoming a cook and establishing a restaurant. If you are one of those people, you have bumped in to the right reading material. Aside from your dream, what else can you get from having your own restaurant?

Being a restaurateur is a hands-on job. You need to be present at all times for your restaurant so that when something goes wrong, you are there to make solutions. If you want to be competitive in the pool of restaurateurs, you have to be there for your business. Through this, you will learn awareness. When you are aware of the trend, you will not just learn business skill but also gain good profits.

The success of your business venture will not only be about food, but also ambience of the place and the timing. The atmosphere must be comfortable and feel relaxed. Your restaurant will also be great if you do not keep customers waiting for long. If you can do this, you will certainly get them impressed and win their loyalty.

In building a restaurant, it is also important to have enough money to sustain its beginnings. If you think you can not shoulder everything, you can start searching for restaurant loans. The government allots money to business loans. A local bank or a lending institution can also offer you plans for financing your restaurant.

Lending institutions may be sometimes strict with restaurant loans. They may ask you to provide a concrete business plan. This is for them to know that your business has the ability to soar high and pay the loan in the future. Some financial institutions will let you pay ten percent of your loan as down payment regardless of how small or big your loan is. If you can not shoulder the down payment, you may get another loan from another company but be sure that you can pay them in the future.

In applying for restaurant loans , take time to write your business plan. Have enough research and gain marketing strategies. The plan should be exact and should give concrete and realistic reasons on how your business will succeed. In the end, you will not only gain profits from having your own restaurant but also learning in the field of cooking.

Why Business Cash Advances Are Perfect For Restaurateurs With Bad Credit

Restaurants are one of the most commonly started businesses. They are also one of the most common business types to fail within the first few years. There can be numerous reasons for this and one of them is lack of money. As with any type of business, having a low cash flow means that there…

Restaurants are one of the most commonly started businesses. They are also one of the most common business types to fail within the first few years. There can be numerous reasons for this and one of them is lack of money. As with any type of business, having a low cash flow means that there may not be enough money for operations, supplies, and – very importantly – marketing to get the word out about your restaurant.

Bad credit can impede the growth of businesses, and this is no different for restaurants. If you are a restaurateur with bad credit who can not obtain a traditional bank loan, then there is another finance method that is perfectly suited for the restaurant business. It is the merchant (or business) cash advance. If a loan is not an option, this method of obtaining business financing is advisory for restaurants for the following two reasons:

1. Restaurants are already equipped to accept debit and credit card sales – which is how merchant cash advances are paid back.

2. The number of customers can grow or decrease at a restaurant without notice and business cash advances have a very flexible payback method directly related to how many customers you have.

Merchant cash advances do not work on a strict, regulated payment system. Instead, a system is set up in which the restaurant gives a percentage of each of its debit / credit card sales to the finance company. This is an incredibly flexible payment system and it takes pressure off of businesses because they do not have to worry about making a large monthly loan payment when business is slow.

Along with this, the paperwork involved with getting a business cash advance is not extensive. The entire application process is much less arduous than it is when applying for a business loan. And you typically find out if you have been approved within 24 hours, meaning that your restaurant can get funds quickly if you are in a pinch. After approval, it generally takes no longer than two weeks to get funds.

Above all, your bad credit will not affect whether you are approved for a business loan. This means you can get approved for a business cash advance in the thousands of dollars even if you have bad credit history or no credit.

Accounts Receivable Financing For Small Businesses 2011

One of the more pressing issues all business owners face is managing cash flow. However, this really should not be a pressing concern. When companies want to alleviate their cash flow concerns, they often turn to the trusted benefits of accounts receivable financing. What exactly is accounts receivable financing and how can it help your…

One of the more pressing issues all business owners face is managing cash flow. However, this really should not be a pressing concern. When companies want to alleviate their cash flow concerns, they often turn to the trusted benefits of accounts receivable financing. What exactly is accounts receivable financing and how can it help your business deal with cash flow, raise those much needed funds and allow you to concentrate on what you do best?

When thinking of accounts receivable financing, think of it as a business loan on your receivables without the bank and without the waiting. In essence, accounts receivable financing is when your company uses your outstanding customer invoices, or receivables, as collateral. Since one of your company's greatest assets are your receivables, being able to draw upon their value in times of need, will eventually put an end to those concerns of cash flow. So, what are the options with accounts receivable financing?

Finance companies involved with accounts receivable financing have a number of financing options that allow business owners to draw upon the value of their outstanding invoices. In some cases, companies may choose the route of using invoice discounting where companies can use their outstanding customer invoices as collateral and borrow money from the finance company. Most finance lenders allow their customers to continue to draw upon invoices going forward. Customers are able to have a running credit limit and will benefit from immediate cash provided they maintain their payment frequency. The benefit in this approach is discretion as the company is able to use much needed funds without their own customers being involved. Earlier invoices garner higher upfront cash and returns while older invoices are less likely to be valued by the finance company.

Another option with respect to accounts receivable financing is invoice factoring where the finance company provides upfront payment on receivables and then proceeds to collect from the company's customer directly. The benefit of this approach is that it allows some companies to make a clean break from unpleaser customer relationships or to break away entirely from a given market or industry. However, factoring companies are professionals and understand the importance of retaining strong customer relationships. As such, companies often come to rely upon factoring companies to strengthen their customer relationships. In this sense, it's perceived more as receivable collection outsourcing.

For business owners who want to put an end to their cash flow concerns, nothing is as powerful and flexible as accounts receivable financing. There are a number of options available to suit almost every need. Do away with those business loans and credit lines and use your receivables to your advantage.

SBA Loans and Small Business Financing Alternatives for 2011

Managing a business is never easy, but it's made more difficult when confronted with an uneven cash flow stream. Managing cash flow is a going concern for all businesses, regardless of size. Financing customer receivables is not only a cost in itself, but a tremendous drain on a company's resources when they must meet their…

Managing a business is never easy, but it's made more difficult when confronted with an uneven cash flow stream. Managing cash flow is a going concern for all businesses, regardless of size. Financing customer receivables is not only a cost in itself, but a tremendous drain on a company's resources when they must meet their day to day operating expenses. So, what's the solution? Well, business loans and credit lines are becoming less and less of an option as banks and lending institutions tighten credit limits and lending practices in response to the global recession. However, there is a solution and it comes in the form of receivables factoring. What is receivables factoring and how can it help businesses manage cash flow?

Receivables factoring simply involves a company selling its outstanding customer invoices, or receivables, to a finance company in return for the right to draw upon the receivables outstanding amount. In a sense, it's a short term business loan without the added headache of high interest rates. In return, the finance company will proceed to collect on the invoice from the customer. Once the full amount is collected, the finance company will reimburse the company the difference and deduct a small fee for the transaction.

Payouts for receivables factoring depends upon the credit worthiness of the customer, their market or industry and the general likelihood that the finance company will be able to collect. Typically, initial payouts are anywhere from 75% to 85% of the receivables value. Aside from the fact that there are little to no interest rates charged, the overall benefit for business owners is ease of use. Factoring has been adopted by a number of industries in response to customers who have typically benefited from extended payment terms. Companies that use factoring have excellent bottom lines, are well managed and market leaders, but suffer from issues with customer payments. A perfect example would be the housing construction industry where construction requires a significant financial outlay with little opportunity to recoup that investment until the property itself is sold.

Companies that have significant assets tied up in their receivables can turn those receivables into immediate cash. Finance companies are flexible in options and provide their customers with the benefits of using recourse & non-recourse factoring. Recourse factoring allows the company selling the receivables to secure a higher initial payout provided them guarantee the finance company is paid on the invoice. Non-recourse has a lower initial payout but allows the company to avoid any guarantees related to invoice payout. Overall, factoring & accounts receivable financing is becoming a more viable option for business owners looking to avoid the high costs of business credit lines and loans. It is not an indication of a company's overall health, but purely a solution to short term cash flow issues.

The Key To Working Capital Financing – Asset Based Lenders

Wondering how your competition seems to have all the working capital financing they need and you do not – the key to that answer might just asset based lenders and the asset based lines of credit they offer to Canadian businesses such as yours. Let's examine how this relatively new and unique method of business…

Wondering how your competition seems to have all the working capital financing they need and you do not – the key to that answer might just asset based lenders and the asset based lines of credit they offer to Canadian businesses such as yours.

Let's examine how this relatively new and unique method of business financing can totally alter your business financing success.

The acronym for this type of financing is ABL; simply speaking its daily cash flow provide against your current, and sometimes now so current assets. What do we mean by that? Simply that this facility allows you to margin your receivables, inventory, and in most cases, you should choose, fixed assets and real estate. You are probably saying to yourself that you could arrange financing on your own re those fixed assets and real estate – but we are talking about using those assets as collateral for your daily revolving line of credit. So you are not borrowing, you are not bringing debt on to your balance sheet, you are just leveraging your 'assets' (that's the 'A' in ABL!) For daily cash flow and working capital.

And why are we claiming that this type of working capital financing just might be your key to business success. Simply because you have probably found it has been challenging to get the full amount of business credit you need. In some cases you might have discovered its been a challenge to get business lines of credit of any way.

So if your competitors are using this type of financing today, who exactly is eligible for it, and is your firm a candidate. The answer is simply that if your firm has a combination of 250k in working capital assets you are immediately eligible for asset based lines of credit. We would add that firms with smaller asset sizes can still monetize those receivables via invoicing financing or discounting, but that's not our key focus for today's information exchange.

So now you now the offering are out there. But why should you consider it. Simply because your firm may be in one of a number of special situations – that includes issues such as your need for increased daily operating cash, you wish to merge with or finance an acquisition, you have been unable to obtain inventory financing elsewhere, you are growing to quickly for traditional Canadian chartered banking financing, etc! We are pretty sure you get the picture now!

The benefits to this type of business financing must by now be pretty obvious. It's all about access to working capital financing and cash flow that you could not access before. Assets that could not be financed are now financeable, and inventory financing, previously limited or unavailable now looms on your growth horizon.

Who are these asset based lenders, and what is the cost of this financing? We'll leave that one for another day, but if you want to investigate asset based lines of credit for your firm (remember, your competitor probably already has) then speak to a trusted, reliable, and experienced Canadian business financing advisor who will assist you with identifying benefits and the best solution for your current strained needs in business finance.

Start-Up Financing for the Small Business Owner

If you're planning on starting a small business, chances are you are not looking for millions of dollars to do it. To be honest, in most cases $ 150,000 or less should be plenty. This means you will not be on the radar for most venture capital and private equity firms. Well then, where can…

If you're planning on starting a small business, chances are you are not looking for millions of dollars to do it.

To be honest, in most cases $ 150,000 or less should be plenty. This means you will not be on the radar for most venture capital and private equity firms. Well then, where can you go if you do not need millions, but could use up to $ 150,000 to start your business?

One of the best forms of financing available to you is the SBA 7 (a) loan program.

The SBA (Small Business Administration) is a government sponsored entity that was created specifically to help small businesses in all different kinds of ways. One way in particular is to help the first time business owner have a chance at borrowing money to start their first business. The SBA accomplishes this by partnering up with banks through the 7 (a) loan program.

Here's how it works:

The Bank agreements to provide loans to small business start-ups and the SBA agreements to guarantee a substantial portion of the loan (up to 85%). So if the business was unable to repay the loan, the SBA will write a check to the bank for the amount they secured.

This is great news! As opposed to a bank telling you that your business needs to have 2 years of operation before it will consider lending you any money, you now have a chance to borrow money right out of the gates.

So now you know you can go to your bank and ask for a SBA 7 (a) loan to get financing for your start-up. Next, there are several things you need to get approved for a SBA 7 (a) loan.

Here's a quick list:

  1. A Business Plan.
  2. Business experience that's related to the business you're trying to start.
  3. Cash, in most cases 30% of the total amount you'll need to start your business.
  4. Good credit.

If you have all 4 of these ready to go, you stand a chance of getting approved for up to $ 150,000 to start your business.

If you would like more detailed information on what it takes to substantively increase your chances of getting approved, please visit http://7asecret.com .

How To Use Commercial Interest Only Loans For Your Business

Commercial interest only loans may be one of the best ways to ensure that you business grows. There are many different ways that you can make your finances provide the best return for your investments. It is important to remember that you do not have to accept the first offer that a bank gives you…

Commercial interest only loans may be one of the best ways to ensure that you business grows. There are many different ways that you can make your finances provide the best return for your investments. It is important to remember that you do not have to accept the first offer that a bank gives you in terms of a loan or financing for your business. Not only are there many different types of banks that provide financing for business projects, but there are other financial institutions that provide excellent services and financial solutions for small and medium sized businesses. In fact, it may be better to approach an independent financial services company for financing as many commercial banks in America are continuing with their belt tightening programs while riding out the last of the recession.

Commercial interest only loans are a very common form of credit in business. You do not just have to use commercial interest loans for real estate financing. A commercial loan can be any loan made to a business that will aid their business operations. This is also known as working capital, and many businesses today apply for commercial interest only loans to finance new projects or expand their existing business operations. In real estate investment and property development though, a mortgage lender will not commit to an interest free loan for a lengthy period of time. Instead, they will often provide businesses with commercial interest only loans during the construction period, or, in the case of an existing building, the renovation period.

The way that commercial interest only loans work is that you have the chance to pay a much lower monthly rate during the first months and even years of the loan. You only pay the interest on the loan for a predetermined amount of time. This allows you to have a much lower initial payment program which will benefit your business during its injection, easing your financial burden while you are still waiting for a return on your investment. Commercial interest only loans allow you to add to your payment each month only if you're ready to begin paying off the borrowed capital. It helps to control the cash flow through a business.

There are a number of ways of applying for the many types of commercial loans available to businesses and investors. In most cases, you should have a look around for a financial institution that is able to process your loan application fast and effectively at the best rates available. You do not always have to go to a bank to apply for a loan like this. Many trusted companies can guide you through the process of securing a commercial interest only loan online.

How Do You Pitch for Finance to Get Funding for Your Start-Up

Government officials may be trying to tax small companies into extinction, but that does not keep thousands of individuals with dreams of becoming small business owners. Unfortunately, not many individuals planning to go into business have enough budget to get started. Even something like a internet business can take thousands of dollars to get going.…

Government officials may be trying to tax small companies into extinction, but that does not keep thousands of individuals with dreams of becoming small business owners. Unfortunately, not many individuals planning to go into business have enough budget to get started. Even something like a internet business can take thousands of dollars to get going.

When you're dealing with an on-site clothing store, corner grocery, print shop, etc, the fund needed increases exponentially. If most had the money needed to start a business, ironically, they would not need to start a business. The truth about businesses is that they need to be funded by outside resources, such as loans from banks that specialize in just that. Knowing where to look, however, is not just the issue.

A possible business owner needs a careful “pitch” developed to maximize the chances of receiving the funding. It's long and tedious work, but thankfully, it's not very difficult. And if you're looking to run a business, it's essential. Pitching your proposal or plan to potential investors is very important. One of the important things to do here is to anticipate the concerns or questions your investors might have, and that address them with a view to showing how their participation can be beneficial.

In planning your proposal, you need to place a strong emphasis on certain aspects like the total investment required; terms that you're proposing, ie shares, timescale, profits, etc; ability of the team to proceed as planned; the return of any and all investments. You need to make sure that your presentation is as informative as possible, and also engaging and strictly relevant to your business idea.

You may want to include business partners and team members to emphasize the strength of your business. When introducing the idea, always appear to be enthusiastic about your position and the business's potential; however, you never want to be unrealistic about the business or exaggerate possible results. Investors are looking for honesty, and a solid and lucrative opportunity always catches their eye.

Any investor is going to be much more likely to lend to someone who they feel they can trust.

By presenting a clear and honest business strategy with no bells and whistles, you come across as the consensus professional, thus enlightening the respect and trust of your investors. Many investors may be interested in collaborating with you and negotiating on key issues of your business, such as profit sharing, niche markets, exit strategies, etc. It's important to remember that investors are expecting more of a partnership than your run-of-the-mill home or car loan.

They need to be involved in the design of your business and know that they can trust it to operate. Most investors are not only offering the startup funding needed for your business opportunity, but also their expertise. That's why it's always wise to choose a reputable lender, instead of, say, a wealthy family member for example. If and when you have a solid proposal, seek out the top investors around and present them with an opportunity they can not refuse. Be confident in your business idea and stand behind it.

How To Get On The Fast Path For Small Business Loans For Your Start-Up

So many people have excellent ideas for starting their own business, and you may very well be one of those people. But most of the time, the problem many entrepreneurs run into when trying to start their business is that they just do not have the money. Getting small business loans is not easy -…

So many people have excellent ideas for starting their own business, and you may very well be one of those people. But most of the time, the problem many entrepreneurs run into when trying to start their business is that they just do not have the money.

Getting small business loans is not easy – I am just going to tell you that up front. If you do not have a large amount of funding yourself, a successful track record in the field of your business, good credit, and a top-notch business plan, you are really going to find getting small business loans difficult.

OK – so enough with the bad news! Let's get to the good news of some simple steps you can take to greatly increase your chances of receiving that small business loan.

Create an Amazing Business Plan

Your business plan is the first impression lenders will have of you and your business idea. Your business plan is basically your resume or application for money. The more thoroughly you have thought out your business and explained it in your plan, the better chance you have of receiving the loan you want.

Now we will not go into a lot of detail about what all is needed in a business plan because the subject is too large, but here are some highlights.

1. Executive Summary – this is a high-level overview of your business. The executive summary lets the lender know what your business is and where you plan to take it. Notice the keyword 'plan.' This is not just where you 'want' to take your business, but where you 'plan' to take your business.

The rest of your business plan is proving that you have a plan, explaining that plan, and convicting the lender your plan will work.

2. Market Analysis – this is where your knowledge and experience in your industry will come in. In this section, you have to describe the industry, its current growth, challenges, and expectations. You have to describe your target market, how you plan to reach that market, and the results of any market tests.

You also need to analyze your competition, their advantages, and how you plan to enhance their advantages. Finally, if there are any regulations, patents, or laws that you have to deal with, those will need to be described in detail.

OK – so as you can see, there is a lot that goes into writing a business plan. What I have mentioned so far is probably around 25% of what is required.

But do not give up just yet. While you are going to have to put a large amount of effort into your business plan, there are ways to speed up the process – you can hire a consultant, you can buy business plan software to give you a head start.

Get Your Personal Finances In Order

You have heard that it takes money to make money? Well, this is the case with receiving small business loans.

First of all, your finances have to be healthy? Lenders will scour your personal finances to find reasons not to lend money.

Do you have bad credit? That's a problem.

Have you had a recent bankruptcy? Also a problem.

Do you own your house? That is very good!

Do you have liquid savings to invest into the business? Even better!

Your personal credit means a whole lot. Lenders (usually correctly) suppose that if you can not manage your finances well, that you will not be able to manage a business's finances well.

Also, the more collateral you have, the better. Lenders want to know that if you fail, they will get something for their money.

Try Various Lending Options

Do not put all of your eggs in one basket, so to speak. There are several lending options you have based on your needs.

1. Small Business Administration loans (SBA)

Naturally, when most people think of a business loan, they think of going to the bank. Many business loans from the bank are backed by the Small Business Administration (SBA), and the SBA has the final say whether you get lending or not. But once you realize all of the competition you are against for SBA loans, you will understand why you need to have a plan B.

2. Get a line of credit – a line of credit is easier to obtain, but only if you have sufficient collateral to back it up. Generally a line of credit will work if you have assets (ie house, rental properly, etc) but can not spend the money because it is not liquid.

3. Venture capitalists – these are the big-time private lenders. They usually will not lend less than $ 1 million, and they expect you to be able to turn a profit fairly quickly. If you have a great plan, great experience in your industry, and a game-changing idea, a venture capitalist might be the way to go. After all, just about every major company (Google, Microsoft, Wal-mart) received some money from venture capitalists at one time.

4. Angel investors – Angel investors usually lend less than venture capitalists. They certainly want to make a profit, but they also want to help others. For example, perhaps someone wave them a hand at the beginning of their careers that really save them a head start, and they may want to help the next generation.

5. More private lenders – there are all types of private lenders out there. Some specialize in certain industries, some will lend you money for almost anything but they charge outrageous interest rates, and others are looking to invest in long-term businesses. It will just be a matter of you doing some legwork and finding the dancing partner that you need.

Finally, one more note on lending options for small business loans – you can mix and match lenders. Sometimes you might have to get a little from here and a little from there, but when you put it together, it gives you the money that you need.

Summary

So we have talked a great deal about getting small business loans and the steps you have to take. There is an intense competition for this money; after all, if you were to lend someone money, you would want to have a pretty good idea you would be getting it back. So jump in there with both feet, start planning, and see if you have what it takes to start your very own business.

Quick Business Loans: Ideal Financial Support for Your Business

If you have decided to start your own business or expand the established one but you have no money in pocket then you can borrow desired funds easily through quick business loans. It is an easy way to make investment and get the fast return as well. These finances have already provided fiscal aid to…

If you have decided to start your own business or expand the established one but you have no money in pocket then you can borrow desired funds easily through quick business loans. It is an easy way to make investment and get the fast return as well. These finances have already provided fiscal aid to number of entrepreneurs and business houses. Market conditions can not be predicted by anyone and it becomes almost impossible to survive in market when a small problem knocks the door. In such scenario, you can obtain funds under this loan category to save the business at time of emergency.

Quick business loans can be divided into two categories, secured and unsecured loans.

Secured loan – It can be obtained by individual or organization only when they are capable to pledge the collateral against the cash. Role of security deposit can be played by home, property or real estate. However, you can place car, car or other expensive assets if you need small amount. Typically, this loan option has been designed for those entrepreneurs who are looking for big amount at very low interest rate. Only homeowners can enjoy this finance.

Unsecured loan – It is an expensive option which is provided by only few lenders. It contains very high risk for lenders because they do not ask for security deposit against the money. However, borrowers receive small amount for short-period of time.

Before obtaining quick business loans, it is important to consider all options available in market. If you do not have time to check out every option and you are seeking for money urgently for your venture, then make the loan application through internet. It is a best platform where entrepreneurs apply for desired amount in few minutes and obtain the approval in a few hours. As a result, a businessman can get the quick amount into the bank account within few hours. Typically, complete loan processing takes very 24 hours. Banks give you complete authority to invest the cash in purpose without any obligation.