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Month: April 2015

Small Business Credit Cards Advantages

Small Business Credit Cards Advantages

 

So how does the small business credit card differ from the other credit cards in general?

The very obvious difference is that small business credit cards have the credit account in the name of the small business and not any individual, though the benefits indirectly accrue to the business owner. The other difference is with the terms and conditions that come with the small business credit cards. Finally, there are some subtle benefits with small business credit cards which would not be applicable to personal credit cards. Let’s check all these things one by one.

We know that the credit cards provide a lot of convenience and security for an individual and a lot of other benefits too. Most of the benefits related to personal credit cards apply here too. What is interesting here is the indirect benefits that ensue from using a small business credit card.

The indirect benefits associated with small business credit cards are so great that it makes them almost indispensable. The most important benefit is that you can easily segregate your business and personal expenses. So if you have been wasting a lot of time keeping track of your business bills and trying to keep them separate from personal bills, small business credit cards could help. You just need to ensure that you always make all your business payments using your small business credit card. When the credit card bill comes at the month end, you will have itemized account of all the business expenses as a single document. Thus, small business cards reduce (and in some cases completely remove) the need for bookkeeping for a small business. The credit card company does that for you for free, although indirectly.

Another important benefit comes from rolling credit. If you have to pay for your purchases upfront and still invoice your clients later (a situation faced very often with small businesses), you can roll the credit, you are providing your client with, to your credit card. Moreover, since these purchases are mostly urgent, arranging for money immediately can sometimes be a problem. In such cases, the small business credit card is the one which can bail you out. Well, if you are thinking that your personal credit card could do the same for you, you are a bit off the track on two fronts. Firstly, you want to keep your business expenses separate from your personal expenses, and secondly, the APR on business cards is generally lower as compared to personal credit cards. A lot of the small business credit cards don’t require you to pay an annual fee even.

 

Verizon Finally Moved in to Clearwater

Verizon Finally Moved in to Clearwater

If you live in Clearwater like me, then you know that there is not a single decent cable provider around. They all try to sell us basically the same thing as the other one for a nearly identical price. This leads to very little competition which does not work out in the consumers best interest as we all know. So I, of course, was getting pretty fed up with this, having to overpay for crappy service and because there were no cable providers there were also no internet service providers. One day it all changed, fios in Clearwater Florida finally came and turned the area upside down. It was suddenly reasonable to buy internet access again because it wasn’t so expensive.You see before they moved in, we all had terrible internet, we would be plagued by frequent disconnects and some days we wouldn’t even be able to connect at all. This was the curse that we had for being in one of the smaller cities in Florida. We just didn’t get as much love as the bigger cities got which meant that we didn’t have any of the amenities that the others offered. First, Verizon moved in and started offering great cell phone coverage to those of us in this area, which was great but now they took it a step further and added in their internet coverage as well and that just makes me happy. Gone are the days where I would have to worry about getting my work done because the internet may or may not work today. I finally have something that I know will be there when I turn on the computer. It is a better feeling than I could ever describe to you. So if you’re in Clearwater and have not heard yet, now is the time to switch to Verizon because they can and will help you.

Small Business Loans Can Help You Write Your Success Story

Small Business Loans Can Help You Write Your Success Story

Scene one: you are sitting on your office desk surrounded with files and work overload, you are thoroughly frustrated. You work hard and get paid. But somewhere something is lacking.

Scene two: you work for yourself; you do what you want to do. You work hard, and you are satisfied. You go home a better person each day cause you work for yourself. And you definitely earn more.

You don’t even have to look at the results; votes for Scene two are definitely more. You want a life like that. But every business entails capital. Small business loans can accrue the capital you need to start a small business. With so many online sources for small business loans, you don’t need to rely on family or relatives for capital.

Homework! Yes, it is not meant for school kids only. You too have to do it, to find the right resource for your small business loans. There are a few points, the loans lender will be looking at, when he is contemplating providing you small business loans. A lender will be paying attention to your education, experience, business plan and its feasibility. Other things that are crucial are repaying ability, credit history, equity, the presence of collateral.

The first things will be your ability to repay. Every loan is meant to be repaid. Loan lender wants his money back. They will look for a business that has existed for some years now. If you are starting a new business, prepare an application that will prove to them that you will repay the loan. If your business is a low-risk proposal, you are getting small business loans.

Presence of collateral would provide a positive boost to your small business loan application. The financial institution would be looking for an alternative source to pay back the loan. Without collateral, you would need a cosigner who can pledge collateral. Collateral can be any business or personal assets that can be sold to pay for the small business loan. The market value of collateral is not taken into account but the value which results after negating the valued lost when the collateral is liquidated.

Equity is also significant. The equity will be in the form of money you invest in your business. The loan lender will be very pleased to know if you have invested your money in the business. If there is enough equity in your business to pay back the loan, the small business loan will be yours.

The next crucial thing will be called a credit report. If your credit report is good, your small business loan application will be reaching the top of the application pile. If you have no idea what your history reveal for you – get a copy of credit report. Make sure the details were given there are correct. In case there is an error, get it corrected before you apply for small business loans. Pay all the pending debts and get going.

The question that you will be facing with small business loans is what you are going to do with the money. Give concrete answers. Convince the lender that you will repay the small business loan with long term profitability that your plan ensures. Your confidence will be a key to unlocking small business loans.

Small business loans are available in three forms –

Short term loans will solve funds problem for immediate business starting. Their term is usually one year or less.

Intermediate loans are meant for large initial expenses with loan term between one to three years

Long term loans supply for initial costs of a start up business and extends from three to seven years.

Documentation! Yes, just get ready with your file of documents and make sure it has – proof of ownership, letters of reference, contracts, tax returns, financial statements, credit references, Incorporation or LLC organizational documents. The loan lender might ask for any other documentation for Small business loans.

Read the small business loan agreement carefully and have your lawyer review it. Some terms can be negotiated with the loan lender. If your circumstances are favorable, you can even manage to waive some terms. Obtain terms which you are comfortable especially concerning repayment process and interest rates.

You can have a great idea, great people to work with, a well-written business plan – everything, almost everything. All you need is a small business loan to make it a success. So, how do we begin writing the success story? With writing small business loans application.