With a line of credit, you can make use of monies up to a maximum amount set by the bank. You pay interest only on the amount that you use. The interest rates on these loans are variable. In addition, lines of credit have renewable periods from 90 days to several years; but for extended [...]
Archive for September, 2007
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Introduction to Business Lines of credit, how this loan can help you solve your Working Capital needs
September 30th, 2007 
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SBA Express and 7a Loan Program, a Solution for businesses looking for Start-up capital
September 29th, 2007 davidguide These are one of the most common loans offered to small businesses. These programs are available through qualified lenders. Most banks and non-bank lenders offer these types of loans, but some are much better than others with SBA loans. Because these programs are offered through a non-bank lender or bank, if the institution does not [...]
How to get a Business Loan
September 29th, 2007 davidguide Loans are a time-tested way of raising capital for your business. We would love to tell you that it is as easy as going to the bank and asking for money, but as you probably know by now it is quite the opposite. Some banks, however, have streamlined the application process to make it easy [...]
Bank Loans Basics, a Brief introduction to all the types of loans and how they can help your business
September 29th, 2007 davidguide There are many types of loans available through banks. These include term loans and lines of credit. Term Loans (Long-Term and Short-Term Loans) Term loans have a fixed interest rate (although some loans offer a variable rate). A personal guarantee from the borrower and/or collateral (business, personal, or both) is usually required to secure the [...]
Letters of Credit, How to use this funds to help you grow your Import/Export business
September 28th, 2007 davidguide A letter of credit (LOC) is a guarantee of payment upon proof that the contract terms have been met. This is commonly used in international trade transactions. In a letter of credit, your bank guarantees (for a fee) that it will pay the purchase price on behalf of the buyer upon completion of the contract. [...]
Factoring, another way to get money for your business when banks say no
September 28th, 2007 davidguide This term refers to getting a short-term loan based on the financial strength of your accounts receivable. This means that you sell the accounts receivable of your business to the factoring company at a discount in exchange for getting money now. Factoring is useful when you have to meet your business obligations, such as paying [...]
At-a-glance Business Insurance, types of business insurance for your business
September 26th, 2007 davidguide Insurance can cover a variety of catastrophes including natural disasters, fire and theft. Providing good health coverage for your employees can help you retain them. However, these are not the only types of insurance available. You may be required to carry life, business interruption, or auto insurance depending on the nature of your business. Other [...]
Business Health Insurance
September 26th, 2007 davidguide Types of coverage: Traditional Indemnity Plans, these plans simply reimburse the employee for covered expenses. Due to the high cost of this plans, employers are opting for manage care plans. HMO (Health Maintenance Organization), this organization offers a large selection of doctors, hospitals, and other health care providers. In this plan, all treatment is referred [...]
Resources are Available for an Import/Export Company
September 26th, 2007 davidguide US Business Advisor www.business.gov, this is the federal government’s guide to international trade for small businesses. In this website, businesses can find essential information on laws and regulations, finance, trade leads, and associations and agencies that promote international trade. US department of Commerce, Trade Information Center www.ita.doc.gov offers the business community information on all US [...]
Bad credit financing options, Microlenders and Alternative Loans
September 26th, 2007 davidguide Most commercial banks will shy away from clients with credit problems. However, there are organizations that specialize on clients with bad credit, no credit, or with a short credit history. These lenders have the most flexibility when lending and their loans usually carry a higher interest rate. These institutions lend lower amounts and in most [...]
