Before you give up on the idea that you will never be able to get a home equity loan because of your bad credit, first be sure you can t get one. It may save you a lot of work, and it opens up more possibilities for home purchases and help from real estate agents.
You might be surprised to find that there are ways you can get conventional financing, even though you never thought you would be able to. More and more lenders are looking at people with less-than-perfect credit. Usually the interest rates are higher than average, but you get into a house. You can refinance later, after showing how you reliable you are making your monthly payments.
Here are a few suggestions to get mortgage companies to look at you. Read the rest of this entry »
Many women are so confused by the words – “Business Plan”. What is it? Who do I show it to? Do I really need it? What is it really going to do for me?
A business plan is a written blueprint for your business. It describes a summary of what your business is about and it s goals. It also outlines how your business will function. The term business plan was first developed by bankers who wanted a detailed report of how a business would result in profits before they would make a decision on lending money. Today, no business banker will even entertain a business loan application without a business plan.
In a nutshell, the answer is yes, you really do need a business plan if you really want to build a solid foundation under your home-based business.
I guess the reason so many women procrastinate in doing a business plan is because they think they have to come up with some imaginary figures and statistics about their business which is of course very scary for anyone. This type of plan is known as an Executive Business Plan. This plan is shown to banks, SBA and other lenders who you may apply to for a substantial loan. Usually, this type of business plan must show a 3-5 year projection of how much money your business would make if they should lend you a specific sum of money. Although you will need this type of business plan should you wish to expand your business, the most important thing for you to know now is where you will be in the next 3,6,9 and 12 months.
One of the best form of business plans to start out with is Read the rest of this entry »
Avoiding the top 7 business financing mistakes is a key component in business survival.
If you start committing these business financing mistakes too often, you will greatly reduce any chance you have for longer term business success.
The key is to understand the causes and significance of each so that you’re in a position to make better decisions.
>>>>>> Business Financing Mistakes (1) – No Monthly Bookkeeping.
Regardless of the size of your business, inaccurate record keeping creates all sorts of issues relating to cash flow, planning, and business decision making.
While everything has a cost, bookkeeping services are dirt cheap compared to most other costs a business will incur.
Read the rest of this entry »
