Options for Government Grant Money

Grant money is available to many different types of businesses. Business grants are usually only to businesses who meet certain criteria such as minority owned, women owned business, or businesses that perform a certain duty to the community. Federal and government grants do not have to be repaid, but the grantee usually has to perform…

Grant money is available to many different types of businesses. Business grants are usually only to businesses who meet certain criteria such as minority owned, women owned business, or businesses that perform a certain duty to the community.

Federal and government grants do not have to be repaid, but the grantee usually has to perform a civic duty for their community. This can include a donation or volunteer work or anything that their business can do to improve the quality of life in their community.

Women owned businesses generally perform better than businesses owned by men. The government is aware of this statistic, so they are more likely to give business grants to women. Although the money does not need to be repaid, the government will recoup some of their money in income and sales tax. A new business will help stimulate the economy, so the government sees this as an investment in the future.

Grants can be found online through an online search. Be careful of sites that want you to pay for information, as this information can almost always be found for free. When you get an application for a grant, it's imperative that you follow directions exactly. One mistake on an application can get it returned and you will no longer be eligible for the grant.

Government grant money is not available all the time. Grants are announced on weekdays and have deadlines that might only be a few weeks away. It's advised to check the list of grants often for the best odds of finding one for which you qualify.

Obtaining grant money is very competitive. Your proposal is the most important part of your application. It's essential to have a well written, clear, and concise proposition. Your proposal should outline your goals for your company if you should win the grant with a clear budget for spending the money.

Although grants are free, the government may require periodic reviews and financial statements to review how you are using the money. Grants are hard to get, but it can really help your business succeed. Be sure your proposal is clear and outlines everything that you will do with the money. If necessary, it might be helpful to hire a professional to write your proposal.

New Provisions for SBA 504 Loan Refinancing

Due to the new Small Business Jobs Act, there is a two year window to refinance business debt, such as commercial mortgages, equipment loans, lines, etc with an SBA 504 loan. This refinance eligibility is independent of the usually required job creation goals with the 504 program. This enables 504 loans to be used for…

Due to the new Small Business Jobs Act, there is a two year window to refinance business debt, such as commercial mortgages, equipment loans, lines, etc with an SBA 504 loan. This refinance eligibility is independent of the usually required job creation goals with the 504 program. This enables 504 loans to be used for refinancing of qualified existing debt without the normally need to prove business expansion.

In other words, for the first time every, commercial borrowers can refinance existing business debt with long term fixed rate financing. Total loan amounts can now go up to $ 12 million. All in all, this is outstanding news for the industry, as virtually all involved, including borrowers and bankers have been asking the Feds for this for years.

Here are the qualifying perimeters of this provision.

  • Debt was incurred more than 2 years ago.
  • Debt is not subject to a guarantee by a Federal agency (ie you can not refinance an existing SBA 7 (a) loan that you may have).
  • Debt was used to acquire a 504 eligible fixed asset (s) (ie your existing debt must have been secured by an asset that the SBA deems as eligible)
  • Debt is collateralized by a 504 eligible fixed asset (s).
  • Borrower has been current on all payments for at least a year. However, most banks will require that there has been no lates in the last 5 years (or longer).
  • Amount of financing (both the bank and SBA loans) is not more than 90% of the value of the collateral, other additional collateral may be required to cover the deficiency (ie the max loan to value is approximately 90%. will likely lower this to 80%).
  • Borrower has been in operation for all of the 2-year period ending on the date of the loan.
  • Financing may include the refinancing of qualified debt plus payment of business expenses.
  • Must include a specific description of the expenses for the additional financing. Borrowers will often have to create a “Debt Schedule.”
  • Must include an itemized list of the amount of each expense. May not be used for non-business purposes. Business credit cards and or personal credit cards will likely remain very difficult to refinance as borrowers will have to provide receipts for individual item, thus documenting its use.

These recent changes to the SBA 504 loan program are huge. It will likely help many businesses that have had the door of commercial mortgage financing shut on them for over three years now. For example, borrowers that have loan amounts over $ 2 million with loan to values ​​over 60% are a perfect example. These borrowers have had virtually no finance options as conventional financing has been so difficult to get done. Further, borrowers with special purpose properties like gas stations, hotels, car washes, etc have had virtually no options. Now, due to the recent changes these borrowers should have many more lending options via the SBA 504 loan program.

Commercial Vehicle Loan Is a Best Loan

You want to start with a new motor vehicle business but you are not supported financially. In addition, you can not ask any bank for loan because of your poor credits. In such situations, you do not need to worry because Commercial Vehicle loan is there to help you out of your problems. This advance…

You want to start with a new motor vehicle business but you are not supported financially. In addition, you can not ask any bank for loan because of your poor credits. In such situations, you do not need to worry because Commercial Vehicle loan is there to help you out of your problems. This advance company provides you money without any credit checks. It provides you cash in spite of your bad credit.

If you are seeking for loans with low interest rates, you may match up to other finance companies with comparatively low interest rates. You should be prepared in advance to apply for these finances. You should keep your documents ready before hand so that you do not get to run for your documents at the last minute. To apply for these loans you may personally visit the office or you may just fill an on line application. The borrower should make sure that he submits the right documents requested by the lender. The borrower should convince the lender that he is capable to repay the borrowed amount.

These loans are of two types ie secured and unsecured.

Secured loans are loans for which you have to give a security such as your house or any valuable asset. The borrower is at risk of losing his property if in case he is not able to repay the borrowed amount.

Unsecured loans are advances for which you do not place any security. The lender is at risk of not getting his cash back if in case the borrower is not able to repay the loan amount. You can avail for 2000 – 50000. For a period of 5 – 7 years.

To benefit these financial loans you need to be a citizen of UK. You need to be more then 18 years of age. You need to have a bank account. You need to be employed with a regular monthly income of at least 1000.

What You Should Know About The Discover Motiva Credit Card

If you are looking for a good low interest credit card, than you should take a look at the Discover Motiva Card. The Motiva Card is an excellent cash back rewards card for those with good to perfect credit. If you happen to be a responsible card user looking to capitalize on the best interest…

If you are looking for a good low interest credit card, than you should take a look at the Discover Motiva Card. The Motiva Card is an excellent cash back rewards card for those with good to perfect credit. If you happen to be a responsible card user looking to capitalize on the best interest rates out there, then look no further.

The intro APR stands at an eye catching 3% for six months for all qualifying customers.99% for 15 months. Gone are the days of the 12 month 0% introductory offer credit card. However, Discover does offer a very reasonable interest rate if you are needing to do a balance transfer from another card. 15 months at 3.99% is a very good deal. There are many cards also offering good intro offers, however, only for 6 months. Those who have a higher credit rating will have a better chance of securing the lower interest rate after trial period is over. After the introduction offer, the interest rate will vary between 11.99% and 20.99%. Again, this depends on your credit. The ideal beacon score for this card is around 750. It is still possible to qualify for this card with a credit rating in the 600's, however your APR will not be as low.

The Motiva card is also a good cash back rewards card. The rewards program is much the same as other Discover products. After you reach $ 3000 of total charges you get 1% cash back. The good thing is that these rewards are unlimited. That gives you a good 1% off on all your purchases. You will earn.25% cash back until you reach the $ 3000 second tier.

The cash back program works even more to your benefit when you shop with partner companies. Get 5% to 20% cash back at more than 150 rewards partners. This is great way to get discounts every time that you go shopping. You have to go through their on line shopping portal, ShopDiscover.com. There you will get access to shop at stores such as Best Buy, FTD Flowers, Hewlett Packard and Lands End. The site is easy to use and navigate. They also offer double cash back rewards on grocery items. This is a great way to earn points.

Redeeming your points is designed to be a fun and easy process, not tedious and frustrating like some other accounts. All you have to do is the following:

1. Log On To Your Account

2. Follow the links directing you to the rewards redemption page

3. As with any account as long as you can manage it properly you should not have any difficulty in reaping the full benefit your credit card has to offer.

On the other hand, it is also just as easy to loose them. Pay your monthly statement on time every month and you will not be penalized. If you can make six payments straight and on time, you will be issued bonus award points. They can also be as nasty as nice. Make two late payments and all your rewards point will be gone. In addition to losing your rewards, they may also raise your interest rate indefinitely. This is like being in “Discover Hell”. Not quite Dante's Inferno, however, if you are looking to save money (like most of us are) this will derail your plan. That is why it is always a good idea to never charge more than you can afford.

In all, the Discover Motiva credit card is a good rewards card. They offer an excellent introductory offer. 3.99% for 15 months is almost unheard of these days. Your credit score does not have to be in the eight hundreds either, in order for you to qualify. After doing some research, I was able to find out that people with scores of 621 were getting approved. As always, Discover has excellent customer service 24/7. I happened to very much like the fact that double rewards points is offered on grocery purchases. These are the types of categories that you want to earn your points under, especially double points. This is a great card for housewives, college students or just about anyone.

Commercial Mortgage Loans Are Not Hard to Avail If You Meet the Criteria

Getting commercial mortgage loans, frequently known as hard money loans were very easy to avail even few years back. Owners of residential properties who were not eligible for bank loans or were in dire need of money can easily opt for these mortgage loans. All they need to show is some property having equity in…

Getting commercial mortgage loans, frequently known as hard money loans were very easy to avail even few years back. Owners of residential properties who were not eligible for bank loans or were in dire need of money can easily opt for these mortgage loans. All they need to show is some property having equity in it. Hard money loan providers were glad to issue these mortgage loans on the basis of soft equity alone. But nowdays it is very hard to obtain such loans due to the economic conditions.

Private creditors are submerged in loan requests these days. Even the high quality loan-seekers having potential balance sheets are no more capable to pry financing from the bank. They are flocking to these private lenders willingly in order to get commercial mortgage loans. Thousand of fabulous projects and outstanding constructions are now in danger of losing their credit crunch. The hard money creditors that have been very choosy.

These financial entities are financing the best assets and the top-quality deals only to make out more profit. If individuals want their commercial mortgage loans to obtain approval for their construction, purchase or refinance of project in current times, they must ensure three things to show the lenders.

The loan providers seek successful track record of the persons applying before approving commercial mortgage loan. Individuals new in the construction field will certainly have to wait till the crisis gets over. Moreover the investors will require strong business personnels. Almost all commercial mortgage loans nowdays require the principal borrowers' personally signed guarantee. In fact the loan providers will never be willing to provide individuals with 100% finance now. They demand certain amount from the borrowers as down payment of the loan. Moreover any individual applying for the loan has to show his capacity to repay the mortgage loan. This implies that the construction must produce adequate cash-flow to meet its mortgage repayments.

Numerous types of loans other than commercial mortgage loans are available in the financial market to meet the requirement of finance of any individual. If individuals are facing any financial difficulties with regard to their gas stations, then looking for a loan provider willing to provide them gas station loans is the only way left for them. But if the individuals are particularly looking for gas station loans, then they may face several difficulties in getting a creditor.

The recession has affected this field severely. The economic depression has affected the lives of several individuals and directed in the significant rise in number of defaulters.

This is actually the major reason for the conventional creditors for not approving the gas station loans. This continuous rejection of individuals by the several loan providers has badly affected them. Individuals planning to triumph over the awful financial worries with this assistance of gas station loans are depressed as the loan providers denied to approve the loans. But individuals need not to worry much especially if they know where to search for such companies. Individuals will certainly get hold of several companies who will willingly grant their gas station loans provided they meet their eligibility criteria. Having a good credit ranking availing such loans will certainly be easier without any difficulties.

Gas Station Construction Loans – Credit History Plays A Vital Role

If you are planning to set up a gas station business or refurbish an existing one, you can apply for gas station construction loans. But, searching for a lender may be a little difficult in recent times as there has been a steady decline in getting this type of loan sanctioned. This is primarily due…

If you are planning to set up a gas station business or refurbish an existing one, you can apply for gas station construction loans. But, searching for a lender may be a little difficult in recent times as there has been a steady decline in getting this type of loan sanctioned. This is primarily due to a fall in the economy, which has affected thousands of individuals all around the world. In spite of all this, there are several companies that are willing to grant you this loan provided you meet their requirements. You just have to know where and how to search for them.

An individual's credit history plays an important role in getting the application for gas station construction loans approved. When an individual applications for these funds, the lender will first check his credit record. If you have a good credit record, you can easily obtain approval for the funds without any complications. This is because, a good credit record means, there is less chance for the borrower being a defaulter.

The main problem arises when an individual who is planning to apply for gas station construction loans has a bad credit record. Lenders will not approve the application of such individuals as they have to take huge risks. But, this does not imply that there are no options to qualify. They can get the gas station construction loans sanctioned if they include a partner in their business who has a clean credit record.

If you are planning to involve a partner to get your application of the gas station construction loans approved, you have to plan the business scheme in such a way that you own less than 20% of the total shares. This is very important because, when you pay a visit to the lender, he will be interested in the credit history of your partner as he holds the maximum number of shares. Thus, your application will be approved without any complication. Apart from these, apartment loans are taken-out by property management investors and firms who are planning to purchase apartment units. The units are then rented out to tenants.

A part of the monthly payment made by the tenants is used to pay off the apartment loans and the rest provides a steady income for the investors. In order to get such funds sanctioned, a borrower's credit history, down payment and business scheme are taken into consideration by the lenders. To qualify for the scheme of apartment loans, an individual's minimum credit rating should be a score of 640 and should have a minimum 15% cash down payment.

Beside a borrower's credit record and down payment, the approval of the apartment loans also depends on the business plan. This plan should contain all the details about potential tenants and also of the individual who will be responsible for property management and maintenance. Along with this, the borrowers are also required to submit some proof of income which will help them to sustain their business. But, remember that the requirements of the lenders who offer apartment loans vary from one to another. Thus, it is important to check the requirements before you apply for these funds.

Multifamily Apartment Loans – Know the Basic Requirements

Several kinds of loans are available in the financial market to assist individuals in fulfilling their vital requirements. A complex or building where several families stay is well known as multifamily apartment. Purchasing an apartment or building ensures one's ownership of it. Moreover purchasing a building is beneficial because having the ownership an individual can…

Several kinds of loans are available in the financial market to assist individuals in fulfilling their vital requirements. A complex or building where several families stay is well known as multifamily apartment. Purchasing an apartment or building ensures one's ownership of it. Moreover purchasing a building is beneficial because having the ownership an individual can borrow loans on the basis of the building's market value. The multifamily apartment loans are available easily from numerous sources such as pension funds, insurance companies, banks, private lenders etc who grant loans also for commercial properties. Apart from such multifamily apartment loans, lenders also lend money for other kinds of multifamily property like lodging places with more than one resident, mobile home parks etc.

The rules of commercial lending are relevant in case of these multifamily properties. However, the terms and conditions of these multifamily apartment loans vary according to the loan providers offering such purchase loans. Few of the loan providers charge a little higher interest rate in case of these multifamily apartment loans. Interest on the loans available for single family homes are lower compared to these multifamily apartment loans.

The Web World is a great place to get details of the lenders providing multifamily apartment loans. Utilizing the Internet facilities, individuals can fill up the initial qualifying form online as a part of the application procedure for these loans. The loan-seekers need to go through the terms and conditions while filling up the application form for these multifamily apartment loans. After the filled up online application forms Get approval from the lenders, the loan seekers are provided with some essential documents that they are required to download. The entire procedure take 30 to 45 days.

In return, the Individuals need to submit a few essential document papers to the providers of multifamily apartment loans. Financial statements, corporate papers, current appraisal, survey papers, tax returns, updated bank statement of three months etc are among these vital documents that the loan providers may ask for. The creditors will verify these documents. If they find those satisfactory they will prepare the contract papers. Financing living facilities for the aged individuals is also profitable for commercial loan providers. Apart from housing, quality health care service is also provided to the aged people under the schemes of senior living facilities.

Once individuals retire from profession and become old, they are left behind without care by their children. It is a common picture to behold. Professional retirement means physical comfort and mental peace for the remaining days of their lives. The retired individuals need their near and dear ones to keep their company but their children lack time to spend with them. The main aim behind providing senior living facilities to these aged individuals is to offer them a stress free life. Here they can get several other companions of their age. These housing facilities are consist of three kinds of living. Firstly, for those who want a private and independent living. The next type includes assisted living. The final type includes living with nursing facilities. Individuals experiencing severe health problems may avail the third type.

SBA Business Loans – Being Prepared

Research and business are plan both done. You understand what mistakes to avoid. Now you have decided to apply for SBA business loans. This article will help you be prepared with the documentation you will need to submit an application to a lender. When entrepreneurs think about a loans for small business or a franchise…

Research and business are plan both done. You understand what mistakes to avoid. Now you have decided to apply for SBA business loans. This article will help you be prepared with the documentation you will need to submit an application to a lender.

When entrepreneurs think about a loans for small business or a franchise loan, they think SBA. During the meeting with a lender, the lender will ask for certain information before deciding to use an SBA loan program. Normally a business will need the following documentation to evaluate your loan request:

1. Business Overview.

A document describing who are the borrowers and who are the owners, type of business, annual sales, number of employees, length of time in business and ownership.

2. Loan Request.

A description of what you need financing for, how much money you need, how loan funds will be use, and how much you plan to put down (aka inject) into the deal if it is for a start up business. The loan request should also include purpose, amount and type of loan.

3.Collateral.

Many lenders require collateral of 50% to 100% of the loan amount. So you will need a description of the collateral offered to secure the loan; including equity in your real estate holdings, equity in the business, assets (self directed retirement accounts, stocks, bonds etc.) borrowed funds and available cash.

4. Business Financial Statements or Tax Returns.

If you are purchasing a business you will need to provide the business financials from the seller. If you own another business, you will also need to provide financial statements on all businesses owned. The financial statements or tax returns must be complete for the past three years and current interim financial statements.

5. Personal Financial Statements and Tax Returns.

You will need to provide tax returns and personal financial statements on all owners, partners, officers and stockholders owning 20% ​​or more of the business. Once again the statements must be complete and for the past three years with current interim.

6. Performa and Projections.

Cash flow projections indicating the next five years how much cash you expect to generate to repay the loan.

7. Credit Report.

Typically lenders prefer a minimum 660 credit score or higher with good credit history.

The strength and accuracy of your financial statements will be the primary basis for the lending decision, so be sure that yours are carefully prepared and up-to-date.

Gains and Warnings of Bad Credit Business Loans

For those entrepreneurs who maintain awful credit, bad credit business loans may exist act as a necessary character of business cost. The advantage of getting credit card factoring to provide financing for basic purchases is the known fact that there really is no restriction set as far as what your business are allowed to obtain.…

For those entrepreneurs who maintain awful credit, bad credit business loans may exist act as a necessary character of business cost. The advantage of getting credit card factoring to provide financing for basic purchases is the known fact that there really is no restriction set as far as what your business are allowed to obtain. The funds can be applied to buy machinery, touch up or refashion a storefront or even pay off your taxes.

As one should suppose, bad credit business loans comes with higher interest rates than those provided with a more institutional supplier, primarily your standard bank. This means that over the time of the loan, you may pay more for the advantage of quick access to cash along with fewer conditions. Also, for companies who use bad credit business loans, the repayment rate is often adjusted right to the credit card proceeds of the month, so eradicating anxieties with regard to your company not earning enough to make the monthly payment and keep up with your other unforeseen responsibilities.

Different key factors for the small business owner reaching out for financing by utilizing bad credit business loans include:

– No collateral required

– No points to create the loan

– No limits on the utilization of the capital

– No set payment schedule

– Swift processing

– High approval rate

Even if bad credit business loans may supply financing opportunities to a larger number of CEOs, there are some moderately specific requirements needed in order to be approved. Each advance company has different stipulations, but the following are standard.

– The merchant must have been in business for 6 months to a year

– The merchant must have at least 6 months of credit card receipts with a reported minimum amount of credit card business monthly

– The merchant must have a verifiable lease that will last for at least one additional year

– The funding company will need the transfer of all credit card processing to their machines

– The business type must be acceptable and legal

What Are Restaurant Loans?

Have you ever heard of restaurant loans? If you have a restaurant or any food business, chances are, you might have come across this word. For those who are working out to join the food industry, being aware of what restaurant loans are may be helpful to you. A restaurant owner needs a special kind…

Have you ever heard of restaurant loans? If you have a restaurant or any food business, chances are, you might have come across this word. For those who are working out to join the food industry, being aware of what restaurant loans are may be helpful to you. A restaurant owner needs a special kind of loan to operate his restaurant. This is where restaurant loans come in handy.

A restaurant loan is made available to discrete kinds of businesses. Your business can either be a bar, lodging, nightclub, restaurant, or related to be suitable for a restaurant loan. The amount of loan that you can get a hold of will depend on this classification, in addition whether it's a small scale restaurant or not. If your restaurant is in a much larger size, you would get hold of a larger amount. There are four factors that will be measured before your restaurant loan will be deal with. These are duration of time, annual sales, total amount, and credit score.

How long have your restaurant been operative? This will affect the amount of money you will get hold of. If your restaurant has operated for quite a time, you'll acquire a much bigger loan. If you have been in business for some time now, your annual sales would show affirmative results. A restaurant that has sustained itself in time will be compensated with a bigger loan.

When it comes to loans, your credit score will always play a part. This will influence the strength of your loan application. Creditors will prioritize debtors with good credit standing. Plus, a good credit score will guarantee the approval of your loan because financiers do not have to worry about you having to pay them because they know you will.

If you need restaurant financing , a loans expert would be the appropriate individual to speak to manage your loan till it will be granted. You do not have to wait beyond one day to get your loan if you have a good credit score. But, before your loan will be deal with, you will be scrutinized by the loans expert so be open in you application.