Sunday, July 27, 2008

Bad Credit Small Business Loan: Your Business Savior

Small business loan are a great financial help for small business owners. Without monetary support, a business, whether it is big or small, can not be run smoothly. With a small business loan, financing in small business is always possible. Can a borrower with bad credit score apply for a small business loan? Yes, they can. With the availability of a bad credit small business loan, a bad credit borrower can also finance in his small enterprise.

In the loan market, a bad credit small business loan is available both in secured and unsecured form. The secured option claims a security against the lending amount. Borrowers can use any sort of valuable object as a security. It could be commercial or personal. Oppositely, the unsecured option comes without any such requirement. This option is appropriate for those entrepreneurs who are not interested in pledging their property against any loan.

A bad credit small business loan can be availed by all sorts of bad credit businessmen. Whether you have CCJ, IVA, arrear, default, bankruptcy or late payment problem, it won’t hinder you in availing a bad credit small business loan.

A small business owner can fulfill various purposes with a bad credit small business loan. With this loan, they can start a new business, they can expand their present business, they can purchase some necessary equipment, they can buy a new office premises, and they can repair their present office. Even more, they can use a bad credit small business loan as business capital as well.

The interest rate of bad credit small business loan is a bit higher, as it is offered to bad credit borrowers. But there are some ways to make the interest rate pocket-soothing. Incase a businessman opts for the secured option, he can avail the loan at an affordable interest rate, as in this option, loan amount is secured on borrowers’ property. In addition, using a high valuable property can provide borrowers some extra edge in lowering down the interest rate. The unsecured option can also be availed at a better interest rate and for that you need to make some research.

Source:- http://ezinearticles.com/?Bad-Credit-Small-Business-Loan:-Your-Business-Savior&id=510161

Tuesday, July 22, 2008

Fulfil your Dream of Establishing a Business with a Startup Loan

Now fulfilling the dream of establishing own business is no longer difficult. With an easy availability of loan for business, one can easily establish his own business or renovate his existing business.

Most of the people in India posses a dream to establish his own business. But everyone are not able to afford the expenditure of purchasing or rent land, building the office set-up and the other prior costs of business. But Indian banks are always ready to help those people by providing them loan for business. These kind of loans are providing not only for establishing a new business but also renovate one's existing business.

Among all type of loans available in India business loans stays in a high demand among people in India. The self-employed professionals like the Chattered Accountants, Doctors, Architects, lawyers are also able to take the advantage of these kind of loans. The business loans are broadly classified into two types, secured and unsecured.

Under the secured scheme the borrowers need to keep security to the lender. This type of loan is being provided against a very affordable interest rate and the borrower gets a big amount with a higher repayment period. On the other hand, under the unsecured kind of business loans, the borrower gets the loan amount without keeping any security to the lender. For the insecurity of get back the loan amount, the loan is being given with a higher interest rate. The repayment options are also short in this loan. From the perspective of loan provider, it is classified into two types. These are trade loans and the professional loans.

The trade loans are provided to the business persons and the traders for establishing or expand their business. Under this category one can avail the minimum amount of Rs. 25000 and the maximum amount can be Rs. 100 lakhs. The borrower will get business loan under this category with a very affordable interest rate and flexible repayment options. On the other hand, the professional loans are only provided to the self-employed professionals. The amount of the loan is depends on the repayment capacity of the borrower, financial position of the applicant, tenure of the loan etc. Indian banks provide a sum of Rs. 25,000 to Rs. 25 lakhs under this type of loan.

Business loans can be used to meet the operating expenses. New business owners also avail these loans for rolling their start-up capital or to build good credit standing. Apart from the types discusses above the business loans are also classified into some other types, these are :-

# Short-term loans, which are taken for fulfilling temporary needs of money. Business persons take these loans to protect various short-term problems which usually a business encounters. Banks gives these loans on the terms of repay it within one year. This kind of loan is very useful for the requirements of additional inventory finance and a high volume of accounts receivable. These loans help people to secure cash from market to start a new business or just to boost up the existing one. The short-term loan also can be of secured and unsecured types

# Long-term loans are taken to increase fixed assets of a business. These type of loans are also be given to start-up a new businesses. Under this category of loan the repayment period provided is from three years to five years

# Intermediate loans are one of the top preference of the entrepreneur to start their new business. Banks offer this loan for various business related activity such as to buy equipment, build inventory, increase working capital etc.

# Apart from all these loans there are Government small business loans. Except the government organisations, these kind of loans are also taken through some financial institutions
Finally, from the above discussion one thing is very clear that getting business loan in India is not a big factor. If one cherish a dream of establishing his own business, the best way to fulfil the requirement of the capital is by going for a business loan.

Source:- http://www.bestsyndication.com/?q=20080721_small_business_loan.htm

Monday, July 14, 2008

Dallas Unsecured Bad Credit Business Loans

Are you looking for Dallas unsecured bad credit business loans to help you start up and get your small business running easily in Dallas by getting the capital you need? Then this article is going to help you find out some helpful tips and ideas how you can get your loan approved no matter how bad your credit may be.

So is it really possible to get a business loan if you have less than great credit? Because you know how lenders always go straight to checking your credit history and if less than shining, most of them won't accept your loan request.

The good news is, there are some special lender who actually specialize in offering loan to people with poor credit.

Yes, that's right. Their special expertise is to help people like you be able to get the money you need to start your own business and grow it. So they understand your situation and your needs perfectly well.

The key is, you want to find the best lenders who offers business loans for bad credit in Dallas. Because Dallas has some different laws comparing to other cities and states when it comes to business start up and business loans. So it is best to find a good lender in Dallas to get your loan from.

Also it is important to first choose the exact type of loan you want. Here are some of the most common ones...

* Small business start up loans
* Government small business loans (most affordable)
* Business loans for women
* Unsecured business loans
* And so on.

After that, you can more easily locate your best options when it comes to lenders in Dallas.

Would you like to discover more helpful FREE tips and secrets on how to get your bad credit business loan easily and fast?

Source: http://ezinearticles.com/?Dallas-Unsecured-Bad-Credit-Business-Loans&id=1301310

Monday, July 7, 2008

Unsecured Business Loans

Do you want to start your own business, but just holding back because of the financial constraints? Or, do you need to pour some fresh investment in your business? Don’t worry, because starting and running a business was never as easier. With unsecured business loans you get the right initiative, your business requires. Adequate finance and the ease to pay the loan back may fulfill the dream you have been savoring for long.

Grinding into the details of these loans

As the name itself is self explanatory, unsecured business loans intend to finance you for your business. Whatever ends you may be pushing your finances through to start a new business or finance your already running business, unsecured business loans can afford for that. Either to buy the machines, to register your business or for the construction of the plant, these loans help you to afford all these.

These loans are unsecured types of loans and hence you don’t need to mortgage collateral against it.

Statistics

Interest rates may end up being the deciding factor for you opting for the loan or not. With unsecured business loans, you have the ball in your court. You do not have to mortgage any collateral against unsecured business loans and hence you are free from the tension of repossession of your property. But, because of the risk involved at the moneylender’s end, these loans come at high interest rates which normally are around 7% to 12%.

With new business loans you may be credited anything from $15,000 to $ 250,000, depending on the evaluation the collateral you are mortgaging.

Searching these loans

Unsecured business loans are provided by many banks, financial institution or lending organizations. The best thing is that, you can easily search for these loans online and even apply for these. However you must thoroughly search the data available and seek for every detail for the terms and conditions.
LibertyUnsecured is a regular contributor to finance related websites, which provides information and advice on any type of loan like unsecured loans, small business loans, unsecured personal loans, & more. For more Info Log onto: LibertyUnsecured.com

Unsecured business loans and start up business loans are a prefect solution for business owners with no means of collateral. If your not having success at your local bank, securing the unsecured funding you need. Liberty Unsecured will relieve you of the stress and get you the funding you need within 10 days. 10,000 to 250,000 no docs or assets necessary. Well qualified credit only to qualify!

Source:http://www.transworldnews.com/NewsStory.aspx?id=51416&cat=1

Monday, June 30, 2008

Project Helps Indonesian Women Succeed in Business

BOGOR, INDONESIA th An international agriculture project has been instrumental in improving the income and quality of life for many Indonesian women involved in agriculture-based business enterprises, said project participants and beneficiaries.

An international agriculture project has been instrumental in improving the income and quality of life for many Indonesian women involved in agriculture-based business enterprises, said project participants and beneficiaries.

The Southeast Asian Food and Agriculture Science and Technology project, also known as SEAFAST, has been assisting Indonesians with small- and medium-size food-based business enterprises since 2005, said Steven Gregory of Texas A&M’s Borlaug Institute for International Agriculture.

“Through our part of this project, we are helping smaller food-based businesses throughout Indonesia improve food safety, increase their income and enhance their business process and productivity,” said Gregory, who is chief of party for the project. “The majority of those we serve through our program are women, including members of women’s business cooperatives.”

The program is funded by the U.S. Department of Agriculture and implemented through the Institut Pertanian Bogor and the Borlaug Institute for International Agriculture of the Texas A&M System.

While the project’s SEAFAST Center focuses mainly on food science research and technology, working with larger agriculture-based businesses and organizations, Gregory and his staff work at a grass-roots level with smaller operations.

“We primarily help small and medium-size business enterprises throughout Indonesia by providing free on-site education and training that applies to their business, along with offering low-interest micro-credit loans,” Gregory said.

Of the more than 100 enterprises currently receiving loans through the project, more than 80 percent of the recipients have been women, said Khres Senduk, who manages the project’s MicroCredit Plus program.

“Women are very responsible borrowers and almost always pay their loans back on time or even ahead of time,” Senduk said. “They don’t like to have any debt.”

The loans are typically used to purchase new or better equipment, he said.

The program also provides training and educational outreach on topics such as food safety and processing, product development, packaging and marketing. Of the more than 700 people receiving training to date, more than 70 percent have been women, according to SEAFAST data.

“Women are very interested in the training and in getting groups together to learn more about food safety and processing,” said Arief Tasrig Nur Gomo, a project trainer and food scientist. “They’re good students and are eager to find ways to improve their businesses.”

“The benefits after the training are obvious,” said Dr. Moon Cahyani of the Deputy Ministry of the Women’s Empowering and Children’s Welfare office. “In the new SMEs, the impact can be seen in the change of attitude, mindset and point of view regarding how to process food and beverages.”

Moon said SEAFAST has been very helpful to women-owned small and medium-size enterprises in Indonesia. “Some of these women are widows and the only source of income for their families,” she said. “Others are trying to provide additional income so their family can have a better life.”

Sudarti Subagiya, who runs her own food-based business in Yogyakarta and serves as head of the Amanah Women’s Cooperative, is one of the project beneficiaries. Sudarti and her 14 employees produce homemade snack foods, including traditional crackers, banana chips and other foods made from local edible plants.

In December 2006, Sudarti and the cooperative received a one-year micro-credit loan from SEAFAST, using the money to buy new cooking tools and new food processing and packaging equipment. The program provided Sudarti and members of her cooperative with free training.

“The packaging of our products became better, and we were able to increase the shelf life of our products by three times,” she said. “The loan helped us equip our plant and make our work easier.”

Sudarti noted that she, her staff and other members of her cooperative also learned much about food safety, hygiene and food-processing efficiency thanks to the technical assistance and training they received.

In large part due to project efforts, the Amanah Womens’s Cooperative was able to grow from 14 members to more than 40 in less than two years, Gregory added.

“We’re proud that the SEAFAST program has been able to assist Ibu ( Mrs. ) Sudarti and many other women like her in Indonesia,” he said. “Women are motivated and responsible entrepreneurs, and we hope to help more of them as we continue this worthwhile project.”

Source:http://media-newswire.com/release_1068384.html

Monday, June 23, 2008

Small Business Cash Advance

It is natural that small entrepreneurs face financial crises at many occasions and it is very important that they should come out from the financial problem as early as possible. If not so they will face with many severe problems threatening the very existence of their business. In this situation, the small business cash advance helps them to sort out the financial crisis within a very short time interval. Mostly the entrepreneurs require only the advance for a very short period; they would able to payback the amount within very small time gap. It can be an hour or 24 hours or may be two to three days. Or in some situations they require a long term cash loan to progress with their business. Now the question to be raised is very simple, who will provide the small business cash advance?

There can be various reasons for the small businessmen to avail the cash advances. The reasons can be purchase of some new equipment, starting a new business opportunity, payment of dues or the unexpected delay in funds from the general resources. In these types of situations it is necessary for the business partners to arrange reliable and low interest cash advances. It is necessary that your business should meet some criteria to avail a cash advance. This cash advance mostly works as a payday loan. Many entrepreneurs approach the payday loans when they fail to arrange funds from any other regular loan sources. Small business cash advance has already proved to be a handy tool in emergency?

Cash advances do not require any proof for employment or salary and the cash advance do not require any guarantee or collateral security as such. If your business accepts Master or Visa card, you are eligible to avail the cash advance. It works in a different way than usual loans. It is a cash advance which will be paid back with interest when you process the Visa or Master cards while sale. The sale amount will directly go to the lender. Lender require the receipt of your merchant account before releasing the advance, so that he can legally claim his amount as and when bank cards are processed.

There are many advantages for Cash advance. As already mentioned the greatest advantages are easy to get, takes very less processing time, no requirement of security other than merchant receipt and sales through Master or Visa card and most importantly it is just available with a mouse click. There is no worry of paying back manually as the advance is getting paid back automatically as and when sale happens.

Now a day, applying for small business cash advance is very simple. There are many lenders online. You can go to one of the site, they will request you to fill out some online, menu driven simple forms. They may ask personal details, business details and the details about your Master or Visa Card. Once if you finished the filling process, the sites will take sometime, may be few hours, to confirm the details what you provided. Once if they confirm satisfactorily, they will release immediately the cash advance.

In the present business arena, the cash advance has got its own place as a savior at the financial crises. Thanks internet online, the process is so simple and fast.

Source:http://ezinearticles.com/?Small-Business-Cash-Advance&id=1211905

Monday, June 16, 2008

Number of Small Business Loans Increases

The number of small business loans under $1 million increased by 15 percent from June 2006 to June 2007, according to a report (pdf) released today.

A total of 8,633 institutions made 24.5 million loans valued at $685 billion. This compares to about 21 million loans valued at $634 billion the prior year.

The Small Business Administration's Office of Advocacy also reported that loans with a value of $100,000 to $1 million increased by almost 32 percent.

The total dollar value of small business loans increased by about 8 percent, according to the study. Meanwhile, smaller loans under $100,000, which usually include business credit card loans, increased in total dollar value by 9.4 percent.

All of these figures show higher rates of growth than the period from 2005 to 2006.

The report, "Small Business and Micro Business Lending in the United States for Data Years 2006-2007," also covers savings banks and savings and loan institutions. It ranks lenders in each state and territory by their small business lending activities along with large national financial institutions. For a complete ranking of lenders, click here. Lenders are ranked on their overall small business lending, not by lending under SBA programs.

A complete ranking of banks in every state can be found here.

Separately, the SBA announced yesterday that its Patriot Express Pilot Loan initiative approved more than $150 million in loan guarantees to about 1,500 veterans and their spouses. The program was launched late last June.

Source:http://blog.washingtonpost.com/small-business/2008/06/number_of_small_business_loans.html

Monday, June 9, 2008

Give your company a distinct name

Dear Karen: The name I want to use for a small publishing firm is being used by a firm not in the publishing sector. Can I use it?

Answer: Pick a name not already in use. It will differentiate your firm and save you from legal conflict.

That said, if the other firm is in a completely unrelated category, and it's not a famous trademark, you'd probably be fine using the name, said Doug Wolf, co-chairman of the trademark group at Wolf, Greenfield & Sacks, an intellectual property law firm based in Boston.

But problems can arise if there's even remote overlap.

"A retail store using a trademark might overlap with a clothing manufacturer using the same mark," Wolf said. "A publishing company and a widget-maker would be OK, but if a mark is being used by a publisher and a blog, that could create confusion."

Price hikes should be a last resort

Dear Karen: I feel as if we are caught between rising expenses from suppliers and clients who are reluctant to spend. How can we stay in business without raising prices?

Answer:
Small companies are indeed getting squeezed between rising energy costs and wholesale prices, and consumers spending less, said Keith Girard, a consultant at AllBusiness.com.

"Small businesses are typically the first to feel the squeeze and the last to raise prices because the market is dictated by their larger competitors," he said.

Don't fall to the temptation of cutting your marketing budget, Girard said. Save money by discounting excess inventory, cutting your salary or taking deferred compensation, and negotiating with your suppliers for a price break or extended payment schedule. Cut your energy use to reduce overhead as well as help the environment. Garner free publicity by supporting local events or writing a column for your local newspaper or trade journal.

And if you must raise prices, soften the blow by improving customer service, adding free delivery or offering an extended service contract.

Avoid starting up on personal debt

Dear Karen: I have several credit cards with no outstanding balance. Can I use them to start my company?

Answer: You can but it should be your last option. A business credit card can be used strategically to augment cash flow mid-month, but you'll have trouble building your business if you're carrying large balances at interest rates of 18% to 20%.

"If you carry large balances on your personal credit cards, you'll be in debt paying interest for years. I've seen it way too often, and then the entrepreneur can't get a business loan because his personal credit is all screwed up," said David Gass, chief executive of Business Credit Services Inc. in Las Vegas.

Better to apply for a small-business loan or seek out investors to help fund your start-up.

"There are peer-to-peer lending networks online, such as Prosper.com and LendingCircle.com, that make smaller loans. There's an amazing amount of money being lent through these sites, and investors are getting interest rates comparable to banks," Gass said.

For start-up expenses such as computers, furniture and office supplies, use trade credit available from business-to-business suppliers.

"Negotiate through your business and then those debts won't show up on your personal credit record," Gass said.

Source:http://www.latimes.com/business/la-fi-inbox9-2008jun09,0,1509503.story

Saturday, May 31, 2008

Bankruptcy and Small Business Loans

You're unlikely to get an SBA government-guaranteed loan if you already have too much debt, but there are ways to improve your chances

A U.S. Small Business Administration loan is actually a private loan guaranteed by the government and made to small companies and startup entrepreneurs with viable business plans who couldn't get commercial loans. The borrower must undergo a criminal background check and demonstrate creditworthiness. If you have a history of insolvency or are perceived to be a credit risk, you're unlikely to qualify for a loan of any kind.

If you have good credit aside from the loan you've taken out to help your son, you'd be better off applying for the SBA loan first and then filing for personal bankruptcy later if necessary, says Steve Berman, a business bankruptcy attorney based in Tampa. "You'll need to give the bank a financial statement and a business plan. Be careful not to make any fraudulent misrepresentations to them. They may look at your situation and ask if you intend to file for bankruptcy, and if you do, you'd have to disclose that and it would probably kill the loan," says Berman. If the loan officer does not ask you about the possibility of a future bankruptcy, don't volunteer that information, he adds.
May Be Possible to Avoid Bankruptcy

You might try to work through your financial difficulty first and then apply for the loan, using the extra time to build up your construction business while you continue with your full-time employment. It's possible you may be able to avoid bankruptcy. "Many times, medical providers will write down bills in exchange for lump-sum payments," Berman says. "If your son owes $10,000 and you can make a lump-sum payment of $5,000 or $6,000, they may be willing to write down the remainder of the debt, especially since you are paying for your son's bills and you're in difficult straits." Sometimes medical providers will provide interest-free payment terms as well, he notes.

If you do get the SBA loan and then find you eventually have to declare personal bankruptcy after all, you will not automatically be declared in default on the business loan. "As long as you're still making payments and you haven't breached the other provisions of the loan agreement, they can't cancel the loan on you just because you file for bankruptcy," Berman says.

The bottom line: The more financially precarious your situation, the more difficult it will be for you to meet your current obligations, let alone make a payment on a new loan. If you're heavily in debt or highly leveraged in your assets, you're not likely to get a small business loan—bankruptcy or no.

Source:http://www.businessweek.com/smallbiz/content/may2008/

Friday, May 23, 2008

Small Business Loans: Types And Eligibility Criteria

Initiating and managing a small business needs proper planning, coordination, talent, intelligence and primarily strong capital management skills. To start up and maintain a business, a budding entrepreneur needs adequate capital support for which he/she often resorts to small business loans. In order to promote small businesses many banking as well as non-banking companies have come up with various small business loan schemes to satisfy the diverse needs of their customers.

SBA Loans: The United States Small Business Administration (SBA) offers a variety of loan programs for small business owners.

Basic 7(a) Loan Guaranty program serves the start-up and existing small businesses and other commercial lending institutions. These loans are provided by participating lenders, which mostly comprises of American banks as well as some non-bankers who are associated with SBA 7(a) program.

The Certified Development Company (CDC) 504 Loan program is targeted for those small businesses that wish to acquire real estate/ machinery/ equipment for expansion and modernization purposes. These small business loans are provided in a long-term, fixed-rate financing basis by Certified development companies set up to facilitate the growth and development of their communities and regions.

Microloan, a 7(m) loan program supports the financial needs of small businesses and not-for-profit child-care centers. This loan program can be availed to fulfill the working capital needs and other needs like inventory, furniture, fixtures and other machinery/ equipments. Under this program the small business companies can get a short-term loan of up to $35,000.

Loan Prequalification program offers loans up to $250000 for which the loan applications are scrutinized and sanctioned by SBA themselves. Rather than depending on the applicant’s assets, the program primarily focuses on the overall character and reliability of an applicant.

Secured Loans: The amount of such loans directly depends on the value of the assets held by an applicant. In case of any failure in repayment, the applicant’s assets may be forfeited to the lender. Due to increased security of money lend under this scheme, the small business owners can avail of benefits like better rates and better repayment options. Apart from that a longer repayment period cuts down upon the monthly repayments helping the small business owners to manage their finances in a better way.

Unsecured Loans: These loans are without any security/ collateral and are focused entirely on the character and reliability of an applicant. However, the rate of interest in this case is considerably higher than the other options.

Bad Credit Loans: Small business owners with bad or poor credit history can go for Bad credit loans. Under this scheme the lenders may charge a higher rate of interest because of the increased risk associated with the money lend due to the applicant’s poor credit history.

Small business loans for Woman: Due to an increase in women leading small businesses, many banking and non-banking institutions are providing special loans that supports women financially to fulfill their business objective along with some additional benefits.

Small business owners can also go in for business cash advance, which is a better and easier method of finance support. Unlike loans, a business cash advance does not require a security or a collateral. The repayment solely depends on the future credit card sales of your product and the loan amount is repaid automatically through Visa/ Master cards sales. As the repayment is directly dependent on the revenue earned by the borrower through the credit cards sales, a business cash advance scheme is preferably a much better alternative than small business loans.
Source:http://ezinearticles.com/?Small-Business-Loans:-Types-And-Eligibility-Criteria&id=317855

Friday, May 16, 2008

Better financing for small and micro business sector in Jamaica

Published on Friday, May 16, 2008

KINGSTON, Jamaica (JIS): Minister of Industry, Investment and Commerce, Karl Samuda, has said that the small and micro business sector in Jamaica will be aided with the provision of better financing options in order to ensure the sustainable development of the sector.

Industry, Commerce & Investment Minister,
Karl Samuda. JIS Photo
Making his presentation to the 2008/09 Sectoral Debate in the House of Representatives on Tuesday, Samuda said that "this year will mark a turning point in the sustainable development of this vital sector."

He informed that $5.5 billion will be made available for development and expansion projects and that the assistance includes contributions from the private sector.

The Development Bank of Jamaica (DBJ) will be making available, a $1 billion line of credit, which will be targeted at businesses engaged in agricultural production and processing, retooling and re-engineering, manufacturing operations, tourism, non-metallic mining, and information technology, among others. The funds will be made available through approved financial institutions.

Loans will range between $50,000 and $15 million and security and the repayment period will vary with the size of the loan.

A further $1 billion will be provided through the DBJ Petrocaribe small and medium enterprises energy fund to be used for retrofitting businesses to achieve energy efficiency and conservation and for alternative energy projects, with specific emphasis on electricity conservation and the production of solar energy.

The Industry Minister also informed that $100 million had been committed to the disabled community for businesses. "That is a guaranteed facility and it does not limit the amount that the disabled community can access, but it will not be less than $100 million, but they may go beyond that, depending on the projects," he pointed out.

In addition, the Jamaica Business Development Centre (JBDC) will be introducing a new financial product to provide financial assistance to a special group of 'un-banked' micro and small businesses.

"This product must be seen as improving 'financial incubation' for a targeted group of micro and small businesses," Samuda told the House, noting that under this programme, financial assistance should be provided only to clients, who have been provided with business development services such as training and business assessment through the JBDC's island-wide network of business centres.

He informed that the target group comprises micro and small business entities and business groups or clusters in the productive sector, primarily. The JBDC, he noted, will apply creative lending methodologies and will not use traditional collateral as a basis on which to give the loans.

The interest rate on the loans will be 10 per cent and it is expected that approximately 2,500 previously un-banked enterprises will be served during the first year of operation.

In the meantime, Samuda informed that the JBDC has applied to the DBJ to be accredited as an approved financial institution. The company will also apply to the National Insurance Fund (NIF) for accreditation in order to access funds from the NIF. "In other words, the JBDC will be facilitating entities that are now unable to have any form of access to financing," Mr. Samuda stated.

The Minister commended the Jamaica National Micro Credit Programme, through which 35,000 loans averaging $23,000 per loan, was made available in 2007/2008, to persons without collateral.

He also expressed gratitude for the support received from the European Union through the Private Sector Development Programme (PSDP), which is a five-year technical assistance programme, initiated in 2004.

The programme is geared towards enhancing the competitiveness of the private sector in response to the challenges of increased globalization and liberalization of markets. The PSDP has also funded important research work at the University of the West Indies, which will inform the preparation of a small business policy.

Source:http://www.caribbeannetnews.com/news-7854--9-9--.html

Tuesday, May 13, 2008

Minority Small Business Loans

The first procedure for getting Minority small business loans is to submit an appropriate application form of the financial institutions/banks. It is worth mentioning that there are different types of application forms for different categories of grants. The information furnished in the application covers, inter alia, the following: the name and address of the borrower and his establishment; the details of the borrowers business; and the nature and amount of security offered.

The application form has to be supported by various ancillary statements like the financial statements and financial projections of the firm. The application is then processed by the financial institution-giving grant. This primarily involves an examination of the factors like ability, integrity and experience of the borrower in the particular business. General prospects of the borrower’s business, purpose of grant, requirement of the borrower and its reasonableness are also taken into perspective.

Once the application is duly processed, it is put up for sanction to the appropriate authority. If the sanction is given by the appropriate authority along with the sanction of grant, the bank specifies the terms and conditions applicable to the grant. These usually cover the amount of the loan or the maximum limit of the grant, the nature of the grant, the period for which the grant will be valid, the rate of interest applicable to the grant, the primary security to be charged, the insurance of the security, the details of collateral security, if any, to be provided, and the margin to be maintained.

The detailed appraisal of the project is done by the lead institution. The appraisal covers the marketing, technical, financial, managerial and economic aspects. The appraisal memorandum is normally prepared within two months after site inspection and placed before the Senior Executive Meeting (SEM) for a decision about approval of the project and determining the sharing arrangement among the institutions. Once a favorable decision is taken at the SEM forum and the sharing arrangement worked out, the case is referred to the Board of Directors of the lead financial institution. After the Board of Directors of the lead financial institution approves the proposal, a financial letter of sanction is issued to the borrower.

Source:http://ezinearticles.com/?Minority-Small-Business-Loans&id=232231

Sunday, April 20, 2008

Short Term Business Loan

Most businesses require a loan at some stage of their development, whether it is to start up, expand, acquire another business or purchase a fixed asset. A short-term business loan can suit every stage in the growth of your business. A short-term business loan can help even out cash flow when your accounts payable schedule is shorter than your sales cycle.

A short-term business loan is a flexible, versatile and easy-to-use source of finance that allows you to invest large amounts into your business while controlling the effect this has on your cashflow. With a short-term business loan, there is no need to depend on other credit facilities, such as overdrafts, for working capital requirements.

There are slow times now and then in every business. In the retail industry, seasonal products must be ordered -- and paid for -- months before they will be sold. A short-term business loan allows you to make purchases that will appear as an asset on your balance sheet, and increase your company's asset base without having to put a dent in your cashflow. Short-term business loans can be a good way to raise working capital and cover accounts payable.

Short-term loans are appropriate for both new and existing businesses. When dealing with new businesses, some banks will grant only shorter-term loans, because short-term loans are less risky than loans with longer terms.

Short-term loans can have maturations of as little as 90-120 days or as long as one to three years, depending on the purpose of the loan. In general, banks require very specific repayment plans for their short-term loans.

Before a lender will grant a short-term loan, it will review your cash-flow history and payment track record. Most short-term loans are unsecured, meaning they do not require collateral. Rather, the bank relies on your personal credit history and credit score for approval.

Source:http://ezinearticles.com/?Short-Term-Business-Loan&id=228082

Monday, April 14, 2008

Instant Cheap Small Business Loan!

Let me throw some light on instant cheap small business loan. If you are looking out for small cash to instantly fulfill your dreams, small personal loan can bail you out of your financial quagmire. More so, a particular small loan such as a small business loan would be the apt one for your commercial financial requirements.

Small Business Loan instant!

A cheap small business loan instant serves a business man in three ways.

-Secured small business loan
-Unsecured small business loan
-Bad credit small business loan

First and foremost a secured small business loan uk caters to a home-owner in uk and he should be willing to release his home equity tied up. A secured business loan attracts the most favourable rates out of all the above options.

Tenant’s business financial requirement can be realized with an Unsecured small business loan. UK unsecured business loan meets the non homeowner or a business man looking out for instant small business loans without putting his collateral at stake.

Bad Credit Small Business Loans-Help sail through your financial adversity!

Add a financial cheer to your financially troubled life with bad credit small business loan. Running into financial difficulty? Have defaulted on your small personal loans? Past credit mistakes? Whatever is your financial concern, a bad credit small business loan offers you enough solace to start or resurrect your ruined business. Spruce up your business now, fight out all bad credits.

Depending on your business requirement, you can opt for any of the above option. Care should be taken in settling down with the right small personal loan to meet your needs rightly. The success of your business lies in choosing the right business loan.

Instant cheap small business start up loan! - Small Loans

Make your small business start up dream a reality. Small investment towards your small business aids you enough in setting up a small firm. Small scale industry or any other business which demands for small cash can be realized through instant cheap small business start up loan. Such small business start up loan is instant as it attracts no collateral or equity release. Relax!

Transform your small business dream a reality! Sans Collateral!

A small business bank loan is known for its loan delay. It’s advisable to shun away from the traditional bank loans and opt for instant cheap small business loan to avoid loan delays and to access your dreams instantly.

Source:http://ezinearticles.com/?Instant-Cheap-Small-Business-Loan!&id=534530

Wednesday, April 9, 2008

Beneficial Prospects of Small Business Loans

Financial support is a significant factor for the development of any small business organization. If you lack this support, you may have to face innumerable difficulties in shaping up your expectations and increasing your productivity. Especially, if you have just started your firm, you need a good financial backup to execute your new plans and projects that are essential for making your firm a standardized business company in the market. And this financial assistance can be easily gained through the source of small business loans. Even if you have a bad credit record, you can easily apply for this loan.

The prospects of small business loans are probably the best financial support for your business. You can use the loan amount in any form to cater your business requirements. Straight from satiating your fund needs for establishing your own business firm to manage your routine business financial requirements of clearing unpaid bills, buying furniture, office accessories, paying labor ant etc, everything can be easily performed through the assistance of small business loans. If in case you want to apply for this loan, the size and productivity of your business firm will not set a criterion. In fact, it is your own personal financial status that will considered for the approval of the loan. The lenders will only check for repayment ability. So if your business is running in loss or you are encountering any economic hurdle in your business organization, you can easily demand for this loan. These loans are easily accessible through several financial companies and banks.

Small business loans are available in both secured and unsecured forms of loans. According to your wish and requirement you can opt for either of them. Any small, big and medium size business organization can place a demand for this particular loan. For taking a secured business loan, you have to pay a security or any other valuable asset. Mostly people go for the secured business loan because it offers higher amount and lower rate of interest as in comparison to that of unsecured business loans. Whereas on the other hand, the unsecured pattern has its own number of advantages. Under this category, the loan seeker is free from offering any sort of collateral. And the repayment capability is considered through his regular sources of income. Unsecured small business loans are often stated as risk free as you do not submit any security which can be misused by any way.

Every business has its own set of financial problems. However when you start an organization, the problems appear much bigger and difficult because you lack practical experience of handling such situations as well as you have limited resources. For this reason, the provision of small business loans is acknowledged as the most suitable option. It is a verity that the growth of any country is directly or indirectly positively affected by the presence of several business organizations. Therefore, even the government of UK supports this facility of offering business loans for the development of the business fraternity.

Source:http://ezinearticles.com/?Beneficial-Prospects-of-Small-Business-Loans&id=1055467

Friday, March 28, 2008

More Information On Government Small Business Grants

This article will provide information on government small business grants. You can start a new business with government grant money with the advantage of not having to repay it. It seems that the main dis-advantage to this process is the bureaucratic inertia and large amounts of necessary paperwork that has to be filled out. Regardless of that government small business grants are still a great way to secure funding.

Potential Resources
The federal small business government grant process is very similar to getting a loan from a traditional bank. You will need to provide at the very least tax information, financial reports and business numbers.

Make it a point to find an accountant well versed in your specific corporate industry and who has relative experience with businesses related to yours. By doing this as an initial step you will be able to create a grant application that has relevant and reasonable commerce financial information. You can see all of the unnecessary effort and time that can be saved by choosing the right accountant.

Since you will need a business plan as part of the grant process. The accountant mentioned before can also assist you in making sure the numbers in your business plan make sense.

Next find an attorney who has grant experience and who has proven themselves to be competent in these matters. Your particular application my not be big enough to require the services of an attorney. However, if it is then make sure you hire one.

This attorney should have a focus in the grant application genre and should be able to guide you past common novice mistakes as well as introducing you to other resources you may need along the way.

Finding The Best Grant
It can be time consuming and frustrating to locate the right grant. This point is easily proven by looking at any of the many online grant sites. The grants are usually grouped by foundation and sometimes state and have literally thousands of grants available. Education is the key to finding them efficiently.

Finding the grant that will work for your specific circumstances should be your main concern. This problem has a ready made solution just check the resource box. Being able to match your specific circumstances to a specific grants requirements will be your main chore unless you choose to utilize the resources from the resource box.

In Closing
After completing this article you now know more about small business grants and the main concerns facing those seeking them. Keep in mind that a lot of time and energy will be exerted in just finding the right government grant to pursue. However we have provided a solution to this that can be found in the resource box. You will want to seek out the counsel from the necessary professionals depending on the size and dollar amount of the grant you are seeking. In fact if you are serious about this grant application process you will definitely spend some time perusing the links on my resource box. Time to get started!

Source:http://ezinearticles.com/?More-Information-On-Government-Small-Business-Grants&id=1039113

Sunday, March 23, 2008

Minority Small Business Loans

The first procedure for getting Minority small business loans is to submit an appropriate application form of the financial institutions/banks. It is worth mentioning that there are different types of application forms for different categories of grants. The information furnished in the application covers, inter alia, the following: the name and address of the borrower and his establishment; the details of the borrowers business; and the nature and amount of security offered.

The application form has to be supported by various ancillary statements like the financial statements and financial projections of the firm. The application is then processed by the financial institution-giving grant. This primarily involves an examination of the factors like ability, integrity and experience of the borrower in the particular business. General prospects of the borrower’s business, purpose of grant, requirement of the borrower and its reasonableness are also taken into perspective.

Once the application is duly processed, it is put up for sanction to the appropriate authority. If the sanction is given by the appropriate authority along with the sanction of grant, the bank specifies the terms and conditions applicable to the grant. These usually cover the amount of the loan or the maximum limit of the grant, the nature of the grant, the period for which the grant will be valid, the rate of interest applicable to the grant, the primary security to be charged, the insurance of the security, the details of collateral security, if any, to be provided, and the margin to be maintained.

The detailed appraisal of the project is done by the lead institution. The appraisal covers the marketing, technical, financial, managerial and economic aspects. The appraisal memorandum is normally prepared within two months after site inspection and placed before the Senior Executive Meeting (SEM) for a decision about approval of the project and determining the sharing arrangement among the institutions. Once a favorable decision is taken at the SEM forum and the sharing arrangement worked out, the case is referred to the Board of Directors of the lead financial institution. After the Board of Directors of the lead financial institution approves the proposal, a financial letter of sanction is issued to the borrower.

Source:http://ezinearticles.com/?Minority-Small-Business-Loans&id=232231

Monday, March 17, 2008

Small Business Loans for Women

Women have to qualify for a small business loan, they are not awarded on need.
When an established company needs capital, a bank loan comes first to mind. Banks want to lend to companies that have a record of profitable operations, that generate cash flow sufficient to repay the loan, and that have enough collateral or assets to secure the loan. A clean credit record for both the company and the principals of the company is mandatory; few late payments, and no bankruptcies or foreclosures.
There are a few Small Business Administration, SBA, loans that are targeted to women. Some state and city's have loan programs directed toward small business loans for women. Small Business Investment Companies, SBIC's will sometimes provide small business loans for women owned businesses. Check with your local Small Business Development Center, SCORE office or state/city business development office.
Most start-up companies do not qualify for traditional bank financing unless the founder has the personal net worth and income to guarantee the loan. The loan then is a really a personal loan to the founder rather than a business loan.
Check with the bank that you have your business accounts with for the person who handles commercial or business loans. You will be asked to provide financial statements for both you and your company for the last several years as well as tax returns. You may also be asked to provide documentation as to the accounts you have, both personal and business. A business plan will be required and you will most likely have to complete the bank's own loan package.
You will have to personally guarantee the business loan, which means any and all assets you have will be pledged to pay off the loan if your business doesn't. If you live in a community property state, your spouse must also personally guarantee the loan.
If you look you can find small business loans for women.
Source:http://www.ezinearticles.com/?Small-Business-Loans-for-Women&id=717060