The right strategy to apply credit for business

Jun 9, 2017 | Posted by in Business, Business Tips | Comments Off on The right strategy to apply credit for business

In the near future you are planning to start a business. After searching for existing theory, it was found that when wanting to start a business requires skill, creativity, networking, motivation, and determination.

cash payment

Although everything sounds as an ideal complete package, but in reality that is often discussed just the money capital. Applying for a loan or business credit in developing a business is in the options.

In order for you to not fail to apply for a loan or credit for that purpose, here are some steps to keep in mind:

Determine the good purpose of borrowed money

Of course the purpose of your loan is to do business. However when talking about loans for businesses, there are good reasons and bad reasons. And it can be a reference whether you are worth lending by the owner of the money.

Usually, a good reason is borrowed money related to the purpose of equipment financing, property purchase, long-term software development, or product development in a particular season – such as selling clothes in the Lebaran season.

Conversely, a bad excuse is that borrowed money is aimed at coping with the ongoing financial losses – if you are already starting a business before, building an office, or acquiring a business asset that is not essential.

Determine the lot of money needed

The lender will assess the size of your business. Therefore, do not underestimate the amount of money you want to ask. Because a small business does not ask for a large loan.

Meanwhile, when exaggerating the amount of money you want to borrow and not worth the value of your business, the lender will then question.

If necessary, try to have and prove it with a budget plan that is supported by the financial projections of the business being done. For example, by including a statement of profit and loss, as well as a reasonable cash flow statement.

Know your credit score

The lender will also make an assessment by looking at the credit score or the credit ability you have as a business owner. To be safe, try to get to the bottom of what the lenders are looking for, and how to compare the scores they have, with their expectations. So, you can calculate and measure the type of business and the amount of loan that can be submitted.

Compare loans

Each lender has different criteria and requirements. They also have different flowers. It is better you compare the first banks that have business credit. Do a little research for the bank you want to select. The easy way is to make a comparison of business loans online.

Create a document package

When applying for a loan, there are some documents that need to be prepared. In order not to rush and can apply for loans to several banks that have been compared, prepare some package documents needed.

These documents are usually like your data as a business owner and your business plan, financial reports and projections, personal financial information.

Not tired of waiting

All loans need to process. Therefore, do not rush to get a loan after filing. However, be diligent to check your status. In addition, some lending institutions will usually require additional documents.

Make the Most of Your Insurance Dollar

Jan 9, 2017 | Posted by in Business | Comments Off on Make the Most of Your Insurance Dollar

The development of captive insurance companies has been a way for insured businesses to save on their insurance costs. It is typically a less expensive alternative to securing policies from conventional insurance companies. In order to assist these insurance companies so that they can continue to offer the best value for those who are insured by them, companies like Captive Insurance Services offer consultation services to many captive insurance companies.

Insurance solutions

One way insurance consultants help is by evaluating the formulas that are used to calculate premiums. An unbiased method that bases the premiums on the loss history of a company rather than aggregated averages throughout the industry will typically result in significant savings, especially for businesses with low loss history.

These consulting companies can also help their clients by providing risk management services. Evaluations can be done by visiting insured businesses and reviewing their facility layout and business practices. From there, recommendations can be made that will lower the risk of things like fire or theft. For example, the amount of flammable materials on hand can be evaluated against what is actually necessary. Lowering the risk may be as simple as reducing the inventory level of those types of items. When this is not feasible, proper storage methods may enter the picture.

Another thing that puts businesses at risk for losing money is the injury rate of its employees. While it is hard to put a price tag on human suffering, injuries also translate into lost dollars. First, there is the medical expense for the injured person. Something like a serious back injury that becomes a life changing event for a worker can end up costing hundreds of thousands of dollars. By making recommendations that will minimize the risk of injury, consultants can save their clients some serious dollars.

In addition to cutting down on worker’s compensation costs, consultants who can conduct safety evaluations can save the insured businesses money by helping them to be in compliance with the regulations. An inspection by an enforcement agency like OSHA can result in significant fines when noncompliance issues are detected.

There are a number of other ways consulting companies can save money for those who go the captive insurance route. Effective claims management can keep the losses to a minimum and cut down on fraudulent claims. Buying power leverage can be used to drive down rates. The list can go on and on. If you are in charge of keeping insurance costs down within your own company, you might want to check into what a captive insurance consultant can do.

5 Bad Habits Finance needs to stop Before 2017

Dec 16, 2016 | Posted by in Business, Management | Comments Off on 5 Bad Habits Finance needs to stop Before 2017

Bad habits are difficult to change. No exception about money. Starting from spending more money than you get, forget to pay bills, and other habits that make you spend extra money every year. As a result, you are so difficult to achieve financial goals like buying a home or investment.

saving the rich

But as difficult as quitting smoking, changing financial behavior is equally hard. The process of changing habits is to identify any bad habits that need to be changed and then start thinking about how to solve it. Here are five habits that must be stopped before the start of the year.

Autodebet

If you’re the type of person forgetful, for example, often forget to pay the electric bill, cable TV, and others, one solution is to autodebet. But do because everything is in-autodebet, you are so joined forget watching.

What if the debit is greater than the actual amount of the bill? Or what if for example you continue terdebet account, when you have unsubscribed a long time ago? This careless actions actually make you more wasteful not?

Paying credit card bills in the amount of minimum

Actually paying credit card bills in a minimum amount better than the delinquent bill. But if you pay the minimum each month, imagine how much interest to be paid?

The intention of using credit cards to save money because no promo even make the bill swell. As long as you have the money to pay it off, immediately pay the entire credit card bill.

Delay

Delaying is the main enemy of success. Likewise, if you want to achieve financial success. Postpone paying the bill, forgot to add investment, is a recipe for financial disaster. Especially if you delay retirement saving.

The more you delay, the more severe are also savings to be pursued if you want a prosperous retirement. If you are aged 20 or 30 years do not start saving now, you retire in a mediocre state. Or it could be a prosperous retirement but would have to save more in the current necessities of life more and more and more expensive.

Is tempting discounts

It’s hard to resist the temptation discounts. Moreover, if the discount sale in order to end the year, Eid sale, clearance sale, and christmas sale. Likewise, resist the temptation to buy one get one free, buy two get one free, and others.

Although impressed you skimp because it gets a lot of stuff at cheap prices, if it turns out you do not need the item, this is tantamount to waste. In reality, no matter how much the discount, you countless wasteful if buying stuff you do not need.

Using a credit card when pressed

What would you do if you need money in an emergency? Maybe borrow money to friends or family. But for those who have a credit card may be a credit card swipe.

In fact using a credit card in a state of urgency is not wise. Except if you can pay the bills immediately. If not, this is actually drag you into financial trouble.

One thing you have to remember, the credit card is not designed as an emergency fund. Because you are required to have an emergency fund of three to six months of income.

Is tempting discounts

It’s hard to resist the temptation discounts. Moreover, if the discount sale in order to end the year, Eid sale, clearance sale, and christmas sale. Likewise, resist the temptation to buy one get one free, buy two get one free, and others.

Although impressed you skimp because it gets a lot of stuff at cheap prices, if it turns out you do not need the item, this is tantamount to waste. In reality, no matter how much the discount, you countless wasteful if buying stuff you do not need.

Help Your Own Cause When Defending Your Financial Activities In Court

Nov 5, 2016 | Posted by in Business, Business Tips | Comments Off on Help Your Own Cause When Defending Your Financial Activities In Court

No one ever plans on going to court, but you should be as prepared as possible if the day ever does come when you need to defend yourself or your business from legal action. Many of the reason that business people get pulled into court over finances involve a misappropriation or misuse of funds. If you know you are in the right, then you can bolster your case by remembering to back up your position with the right resources.

banking-expert

The Right Kind Of Expert

If your court date involves financial dealings, then a banking expert who is familiar with your case can be a great ally in your fight. A good expert can explain your situation using words that a jury will understand. An expert can also outline the ways in which you handle your money that could look suspicious, but are actually legal in every way. An expert can explain the technical aspects of your case in a way that will help the jury to see your side.

Accurate Data

When you get called to appear in court, that becomes one of those moments when all your hard work at organizing your financial data pays off. Your expert is going to need to see your banking records, and it is easier for the expert when your records are organized and comprehensive. Your attorney and any other individuals who are going to speak on your behalf will appreciate how accurate and organized you have kept all of your important data.

An Experienced Attorney

When you search for an attorney to represent you in a financial case, be sure to choose one that has plenty of experience in your kind of case. Not all attorneys are the same, and an inexperienced attorney will miss the details and nuances that could make or break your case. An experienced financial attorney will understand what details to look for and how to put together a case that will benefit you and your company.

The first step in properly handling a court case involving your company’s finances is not to panic. Even if you have unknowingly done something wrong, a good attorney and bank expert can create a case that will help the jury to understand your error and how you intend to fix it.

How to Raise Capital Investments in your Company

Sep 9, 2016 | Posted by in Business, Invesment | Comments Off on How to Raise Capital Investments in your Company

The key to growing and developing any kind of company is capital. Capital is the funding that companies use to fund materials that they need to use to fund any aspect of the day to day operations of their company. There are countless companies and individuals in the marketplace that provide capital funding to businesses. Some companies can get funding much more easily than others, though.

financial plan

Large or Small

It seems like the companies that have the easiest time acquiring capital funding are large corporations and small start-ups. Investors want to help companies grow. They also want to make an investment that will yield them some good returns. Large and small companies are usually the best option. They both have these opportunities for completely opposite reasons.

Large corporations have a good chance at getting funding because they have an established brand and a proven track record when it comes to steady revenue. This means that investors are likely to get their money back and more when they invest in these types of companies. Start-ups are a good option because, while they are riskier on some levels, they have the most upside. A good investor has a diversified portfolio that includes low-risk and high-risk investments.

Mid-sized companies

It can be hard for medium-sized businesses to acquire capital funding because of this. There are some firms that work theses companies specifically. They understand that they are established enough to be trustworthy and that there is still enough room for growth for the investment to have high rewards. Middle-market companies can use the capital investment services in a lot of different cases. They can use the money to help grow their workforce to prepare for oncoming periods of growth. They can also use the funds to develop research and make new products. They can even take the money and invest it themselves in other companies to grow their own financial portfolio.

Any business can benefit from more capital funding. If you manage a middle-market company and would like to learn more about how to raise capital investments in your company, click here for more information. There are more companies than you think that offer this kind of financial service and can help your company develop and grow in today’s competitive marketplace. Start-ups and big corporations should not be the only two kinds of businesses that are able to get funding for their capital.

Three Things to Understand About Getting Cash for Your Annuity Payments

Aug 5, 2016 | Posted by in Business, Business Tips | Comments Off on Three Things to Understand About Getting Cash for Your Annuity Payments

There are many reasons that you may want to get a lump sum of cash instead of your annuity payments. Your financial circumstances may have changed, and it no longer beneficial to receive your money as payments, or perhaps you simply inherited this annuity, and you would prefer to have the cash. Whatever the circumstances, there are things you should understand about selling your annuity payments. The following are three of them.

cash payment

The cash you receive will vary

Not every annuity is the same, so the amount of money you can get from selling one is not fixed in some manner prescribed by law or convention. Depending upon the nature of your annuity, you will be given an offer. If you don’t like the offer, you can request an offer from another firm that does this type of work, but you need to understand that regardless of what you believe the cash amount should be, it may be quite different.

A contract must be drawn up and agreed to

If you decide to accept an offer, it will still take a few weeks to get your money. A contract that documents the details of the selling of your annuity must be created, and then you need to sign the contract. After this, the paperwork will need to be processed. Those paying your annuity will need to be informed of the sale. The bottom line is that it can take at least two to three weeks to get the money for your annuity, so it is important to know that this is not an emergency source of cash, at least if you need to money in the next day or two.

Should you sell your annuity?

Of course, to a large extent, this is a personal decision that only you can make, because each person’s finances are different. However, in general, the older you are, the more it makes sense to hold on to your annuity. These payments represent a secure source of income, and as you get older, it becomes more difficult to earn money, especially in retirement. The younger you are, the more selling annuity payments for cash will make more financial sense. You still have plenty of time to build your retirement fund.

Whatever you decide to do, make sure you take the time to understand how much money you will receive, and whether selling your annuity is beneficial to you, both for today and many years in the future.