Tag: Get

Small-Business Loans – 3 ways to get a loan, get a business loan.#Get #a

3 ways to get a small-business loan

The recovering economic environment has meant that small businesses have had to be more creative when looking for loans.

However, companies with sound business strategies still can borrow. Options include loans from traditional banks and institutions affiliated with the Small Business Administration, as well as financing from Internet-based lenders.

“For creditworthy, high-scoring small businesses, there is money available,” says George Cloutier, CEO of American Management Services, a consultant to small businesses.

Bank loans

The best place to get a small-business loan is still a bank, says Cloutier. Banks typically offer the lowest interest rates and many have established reputations as trustworthy lenders.

“Many small businesses try three or four banks and then stop looking,” Cloutier says. A more persistent approach has better odds of success.

Calculate business loan payment

Want to calculate your small-business loan payment? Go to Bankrate’s loan and amortization calculator.

“Take out the phone book, target 10 banks and work through that list,” he says.

That strategy worked for Michael McKean. He is founder of The Knowland Group, a company that helps hotels fill up their meeting space.

A few years ago, as the success of The Knowland Group grew, McKean began searching for a bank that would give the growing company expanded access to credit.

“We talked to every bank in our area, at least a dozen,” McKean says. “Many came back with proposals, but the terms were very onerous. Or sometimes they shifted terms.”

Finally, M T Bank came through.

“They just wanted to get our business,” McKean says.

McKean says his company did not approach M T any differently than it had approached the other banks. It was just a matter of being persistent until the right deal came along, he says.

“We did everything right, approaching the right person at each bank,” he says. “We’re a profitable business. I think it was just the … credit crunch that prevented us from getting a loan.”

Cloutier says the key to success with banks is to show past profitability, and to describe a well thought-out plan for future profits.

“If you aren’t making a profit now, you must be able to tell the bank how you will change that in the short term, or you really won’t be able to get a loan,” he says.

He also recommends that businesses start small in their loan requests.

“If you need money for four trucks, ask for two,” Cloutier says. “The bigger the loan request, the harder it is to get it approved.”

SBA loans

Another way to find a bank loan is through the Small Business Administration, or SBA. The SBA can direct you to banks that offer loans guaranteed by the agency. This way, you’ll have the advantage of approaching banks specifically interested in lending to small businesses.

Interested businesses should contact the SBA office nearest to them, which can be found on the agency’s website. Jeanne Hulit, the SBA’s acting administrator, urges businesses to seek a bank that is an experienced SBA lender.

Banks granting SBA loans place increased emphasis on business plans, cash flow and profit forecasts in deciding whether to lend, she says. The SBA also can refer businesses to free counseling centers to improve their performance.

Online opportunities

Another source for loans is the Internet. There are several sites where businesses can seek alternative lenders, such as individuals and small companies.

Interest rates are generally a little higher than what a bank will charge, but it’s much less than what you’ll have to pay on many credit cards.

Look around at different sites, some may charge a one-time fee to list your business, while others are free to list but might have fees reflected in loan rates.

If you’re going to list your company on one of these sites, describe your business in clear and concise language.

Lastly, make sure to investigate the company you are looking to post your business on. These kinds of companies were successful in 2008 and during the recession, but times have changed. Many have since gone out of business. Before paying for anything, make sure the company is legit.


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How To Get Small Business Loans – Payday Loans Online, get a business loan.#Get

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Small Business Loans, TD Canada Trust, get a business loan.#Get #a #business #loan


Small Business Loan

7:00 a.m. – 12:00 a.m. EST

Ways To Apply

Or, to begin an application, call our Small Business Advice Centre at 1-866-222-3456

7:00 a.m. – 12:00 a.m. EST, 7 days a week

Small Business Loans

Get a business loan

Available Fixed or Floating Interest Rates for Small Business Loans

Flexible Business Loan Payment Options

A Business Loan 1 can help you purchase or upgrade business assets, or help with your expansion plans. The choice is yours.

Secured or unsecured options

  • Available as an unsecured loan 2 in amounts from $10,000 to $50,000
  • Also available as an asset secured loan in amounts from $10,000 to $1,250,000. Flexible security options 3 include:
    • Business real estate
    • Residential real estate (full or partial)
    • Liquid or margin security (full or partial)
    • Business assets

Flexible payment options

  • Choice of 1 to 5 year fixed-rate terms
  • Amortization up to 20 years, based upon the useful life of the asset financed

Fixed or floating interest rates available

  • Floating interest rate options based on TD Prime Rate with no prepayment penalties.
  • Fixed interest rate options available with the flexibility to make 10% principal prepayments annually without penalty.
  • No review fees.
  • Set-up fees may apply.

Protection for your Business Loan

Business Credit Life Insurance can help meet the financial obligations of your business should a person who is key to the success of your business die or suffer a covered accident. Get the coverage your business needs.

Multi-unit property mortgages

We can help you build a customized mortgage for multi-unit residential properties (5+ units).

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1 Subject to complying with TD Canada Trust lending policies and criteria including confirmation of good personal credit history. Certain business documentation is required. Other conditions may apply. Set-up fees may apply. Personal guarantee(s) may be required.

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  • Talk to Us: 1-866-222-3456

Get a business loan


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Business Loans, Westpac, get a business loan.#Get #a #business #loan


Business loans

Get a business loan

Vehicle equipment finance

When you don’t want to use cash flow to purchase new assets.

  • Business vehicle finance: Buy, hire or lease the latest model without tying up your cash
  • Business equipment finance: Buy, hire or lease – the choice is yours when it comes to financing plant and equipment.

Get a business loan

Business overdraft

Provides cash flow relief with funds to cover business expenses, such as invoices and wages until you’re paid.

  • Unsecured Business Overdraft: Up to $50k. No asset security taken. Director’s Guarantee required for Corporate borrowers

Get a business loan

Business loans

Great for purchasing an existing business or franchise, or investing to grow.

  • Westpac Business Loan: Borrow from $20,000 and choose between a fixed rate with predictable repayments or variable rate with flexible repayments

Looking for other business loans?

Get started online

We’ll be in touch within 1 working day.

What are your vehicle repayments?

Get an estimate of your business vehicle finance repayments.

Find a business banker

Call or visit your local branch

Need some help?

Articles to help you make a decision on the business loan that’s right for you:

Learn more about
Things you should know

Credit criteria, fees, charges, terms and conditions apply. Talk to your banker for product details.

Conditions, fees and charges apply. These may change or we may introduce new ones in the future. Full details are available on request. Lending criteria apply to approval of credit products. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding. Unless otherwise specified, the products and services described on this website are available only in Australia from Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.


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Tags : , , ,

Business Loans, Westpac, get a business loan.#Get #a #business #loan


Business loans

Get a business loan

Vehicle equipment finance

When you don’t want to use cash flow to purchase new assets.

  • Business vehicle finance: Buy, hire or lease the latest model without tying up your cash
  • Business equipment finance: Buy, hire or lease – the choice is yours when it comes to financing plant and equipment.

Get a business loan

Business overdraft

Provides cash flow relief with funds to cover business expenses, such as invoices and wages until you’re paid.

  • Unsecured Business Overdraft: Up to $50k. No asset security taken. Director’s Guarantee required for Corporate borrowers

Get a business loan

Business loans

Great for purchasing an existing business or franchise, or investing to grow.

  • Westpac Business Loan: Borrow from $20,000 and choose between a fixed rate with predictable repayments or variable rate with flexible repayments

Looking for other business loans?

Get started online

We’ll be in touch within 1 working day.

What are your vehicle repayments?

Get an estimate of your business vehicle finance repayments.

Find a business banker

Call or visit your local branch

Need some help?

Articles to help you make a decision on the business loan that’s right for you:

Learn more about
Things you should know

Credit criteria, fees, charges, terms and conditions apply. Talk to your banker for product details.

Conditions, fees and charges apply. These may change or we may introduce new ones in the future. Full details are available on request. Lending criteria apply to approval of credit products. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding. Unless otherwise specified, the products and services described on this website are available only in Australia from Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.


Tags : , , ,

How to Get a Business Loan, get a business loan.#Get #a #business #loan


How to Get a Business Loan

Get a business loan

Sooner or later most small businesses need to know how to get a business loan, whether to get the operating capital for business startup or to finance an expansion. But whether you re approaching a bank or a friend for a business loan the lender will have the same expectations.

You can greatly increase your chances of successfully securing a loan by being prepared to meet those expectations.

Put yourself on the other side of the desk for a moment.

If someone asked you for a small business loan, you d want to know exactly why he or she wanted the money and what the chances were that he or she would repay the loan in full and on time.

The key to getting a loan is preparation. First, gather together the documents that will help persuade the lender that a business loan is necessary and that you are a good risk.

Documents Needed

  • A business plan – The business plan shows the lender not only why you want a small business loan but what you plan to do with the money. Don t have one yet? Here s a simple business plan template you can use.
  • Cash flow projections – What s the first question any lender has? Will you be able to repay the loan? Your business s cash flow projections give lenders concrete financial data that they can use to assess this risk.
  • A statement of your personal financial status – A list of your personal assets and debts to give the lender a fuller financial picture.

    You may also need these documents:

    • Past business tax returns – If your business is established and you have past business tax returns, it s a good idea to take them with you. They ll give the lender a better idea of how your business is doing financially.
    • A credit rating report – Basically, you establish a credit rating by buying things on credit and paying back the money you owe. Your loan repayment history plays a big part in establishing your credit rating, but all your credit dealings make up the history that s used to determine your credit rating.

    It s not necessary that you include a credit report with your small business loan application; it s easy enough for potential lenders to check your credit rating. But if you don t know what your credit rating is or suspect your credit rating is tarnished, you may want to get one.

    In the U.S., you can get a free credit report once a year through the website AnnualCreditReport.com. For more information, see How to Get a Free Credit Report.

    In Canada, you can get a free credit report by contacting one of the two credit reporting agencies, TransUnion or EquiFax Canada. To receive your free credit report you will need to mail or fax one of these companies a request along with copies of two pieces of I.D. Note that you will not be able to get a free credit report through the website of either company; you will be charged a fee for an online report. CreditKarma provides free online credit reports through much of Canada.

    The credit report you receive will include information on what to do if you find errors in the report. If you have a poor credit rating, you will want to take steps to repair your credit rating before trying to get a business loan.

    Making the Presentation to the Lender

    The next step in how to get a business loan is to persuade the lender that your business is viable and you are a good credit risk.

    You need to prepare in advance to make a winning loan presentation.

    Start by considering the lender s point of view. You want money. But he or she is most interested in the answers to these two questions: What are you going to do with the money? and Are you a good risk? , and to make a successful business loan presentation, you need to come up with the right answers to these two questions.

    Answering the first question means being fully conversant with all the details of your business plan and being able to point to the relevant financial statements, charts or graphs that will help convince the lender that you need the amount of money you re asking for to do what you want to do.

    Answering the second question means having already given some thought to the credit risk you represent to the lender and being ready to address their concerns.


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    How to Get Funding from Angel Investors – Small Business #business #website


    #small business investors

    #

    How to Get Funding from Angel Investors

    Tips

    • Angel investors can be an option for start-ups with the potential to earn high profits.
    • Expect close scrutiny. Many angels are former entrepreneurs and like to be involved and give business advice.
    • Angel investors tend to specialize, so look into their investing history to ensure there’s a good match.
    • Related How-Tos

      Feedback

      Small businesses looking for financial help from an angel often turn to individuals willing to invest in promising, start-up opportunities. Angel investors can be a good funding source to consider after you ve tapped your friends and relatives. But angels usually don t write blank checks. They ll want to see progress and a way to exit the deal down the line with meaningful profits. So expect angel investors to do a lot of research and careful investigation into your business plan.

      Be thoughtful in approaching potential investors. Biotech investors, for example, don t want to hear about a clothing manufacturer. A scattershot approach is likely to turn them off. Industry associations, local trade groups or, in some states, business-incubator centers can help point to potential angels.

      Angel investors often invest through groups or networks. These provide due diligence, extra research, access to potential deals and shared expertise that one person operating alone generally doesn t have. For instance, one member of an angel group might have background in a particular industry or the know-how to set up deal terms, sharing that knowledge with the other investors.

      Angel investors are usually thorough, so don t expect to get your money quickly. It could take several months to meet with different individuals or groups and answer all of their questions. (There are exceptions, including the case of Google, which got funding from an angel before its cofounders finished their presentation to him.)

      Because they ll own a part of your company, they ll likely want a say in major decisions, and they ll watch to see whether you listen to them. Don t expect them to write a check and walk away. Many angel investors are former business owners who want to help people like themselves. They may be able to provide good advice based on their previous experiences.

      Getting funding from angel investors isn t easy, but it can be done if you take the right approach and are a good match with their interests. And the benefits can beyond the money for your business, but their expertise in both in business operations and your industry niche.

      Related WSJ Articles and Blog Posts:

      Online Tools:

      • Bplans’ Free Sample Business Plans — Dozens of example business plans from Palo Alto Software, a seller of business-planning software.
      • Finance Primer: A Guide to SBA’s Loan Guaranty Programs — An online training course on financing for a small business and loans from the U.S. Small Business Administration, a federal agency.

    Additional Resources:

    • Angel Capital Foundation’s Listing of Angel Groups — Links to dozens of angel networks, capital databases and matching services, and other resources, from an organization founded by the Ewing Marion Kauffman Foundation, a promoter of entrepreneurship.
    • National Business Incubator Association — A directory of business incubators.

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    Catering Beginner? Three Tips to Get You Started! The Burkett Blog – From Burkett

    #catering business

    #

    Thinking about starting your own catering business? The wedding and events industry can be very lucrative, but before you start handing out your business cards or promoting your business online, we’ve listed the top three aspects that new caterers should never miss.

    There is no better way to learn, than actually doing the task. If you’re interested in catering, you need the practical, real-world experience to successfully launch and maintain your business. Catering is no joke – it requires passion and stamina to work the long hours and big events. Getting some hands on experience will prepare you with the tools you need to move forward. You’ll also get insight on market trends and other major catering firms, allowing you to build your business to meet the needs of your customers.

    What are the most important items to get you up and running? First you need to apply for and obtain a business license. Secondly, you’ll need approval from the department of health, certifying your facility. If you plan to start out of your home, contact your local health department. There are various zoning requirements and safety codes that are specific to each state. Also keep in mind that some states do not consider a home as a foodservice facility. Do your homework and be prepared to make some costly renovations.

    Once the business end is covered, you’ll need to invest in professional catering equipment. That’s where Burkett Restaurant Equipment comes in! Commercial restaurant equipment and catering supplies streamline your operations and make every event flow smoothly. From serving utensils to storage pans, we carry all of the essentials for your new business.

    A little Business 101: In order to have a successful start-up, you’ll need a strong customer base to boost profitability. Social media is a great way to get your name out there and to have real-time interaction with potential customers. Sign up for twitter, set up a Facebook page, and monitor sites like Yelp for customer reviews. Every business owner can set up a free account on Yelp to post photos and message your customers. Don’t forget print advertising if it’s in your budget. You might consider flyers and advertisements in your local paper and magazines.

    Finally, develop valuable relationships with other event industry vendors such as florists, bands, event planners and organizers. This network of businesses can help refer customers to your catering business, and vice versa.

    Most importantly, successful caterers have three things as their strongest attributes: Talent, Flexibility and Organization. Focus on the food. Be a savvy business person. Plan your events down to the last detail, but be ready to accommodate any last minute changes. The rest, including your customers, will follow.

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