How To Raise Funds For Business

Raising FundsRaising funds for business is like nutrition to life. Whether raising funds for business is about starting a new one or growing or expanding the existing one, raising funds for business has always been a difficult thing. You can have best ideas; best people to accomplish that idea nut without raising funds for business, all of them are useless. Ways of raising funds for business may seem to be a difficult thing but as an entrepreneur you have many options. Raising funds for business is like bloodline of business and it works like a fuel to keep the business running. Raising funds for business also depends upon the type and nature of the business you have. But once you have realized the need of raising funds for business, here are some of the options from which you can choose.

  • Bank financing

One of the most common was through which people can raise funds for business is through bank loan or bank financing. Your banker may request you for guaranteeing your loan by small business association before you put it for approval. SBA is such an agency which is governed by the government and they will guarantee you to allocate the 80% of the value of the loan approved if all the criteria are fulfilled. If this is not an option for you then you can offer security in some other form like putting your home as security for getting your loan approved and raising funds for business.

  • Second mortgage

Second mortgages are also known as the home equity lines of credit. This type of fund raising might not allow you to have full amount of loan as some of the amount might have got locked up in your first mortgage. For knowing how much amount you can borrow on second mortgage, take the total amount of your home and then deduct the outstanding amount of your first mortgage and the remaining is the one which you can take in your second mortgage and through which you can raise funds for business. Be aware as there are some of the lenders who will lend only 70 to 80 % of the fair market value of your home. You are availed with an advantage in opting for second mortgage as a source of raising funds for business as the interest rate tends to be lower as compared with other source of financing.

  • Business partner

You might have a bright idea to start up a business but you might not have the bright funds to start a business where as on a contrary there are people who have the adequate money but non idea to put their money into. Thus you can make such a person your partner and raise funds for business. However before making any person your partner make sure you have aligned goals for business as he is going to be your partner and he would be having equal right in your business. For safer side also have an agreement as to the terms and conditions and also in the situation of break down.

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Common Auto Insurance Scam to be Avoided

Many a times we observe that car accidents which takes place are not genuinely happened but it is considered to be bogus which is very much important to avoid for. You need to be conscious enough for getting and identifying the common auto insurance scam which is now days considered to be something common to be noticed in the market. Well, you might be thinking that what can be reason for common auto insurance scam but let me tell you that sometimes it is being attempted for getting in to tax evasion process to avoid the paying of more tax to the government. Law related to driving is also considered to be a part of common auto insurance scam which you can observe many times.

The further discussion will help you in the matters of avoiding common auto insurance scam which can help you in identifying which insurance is genuine and which is the bogus one. Let me help you out with some of the examples of common auto insurance scam which you must avoid for like forced rare ending, the fake injury claim , etc. and many more of such which you must avoid ta the time of suffering from the common auto insurance scam.

Common auto insurance scam to be avoided

  • The fake injury claim

Many times we can get the in contact with this type of common auto insurance scam which is considered to be having its place in such type of accidents. The other driver gives the claim that he being suffering from the injury of Whiplash or Phantom pain, then the other party is needed to pass up the claim. Because such type of injury is being not recognized while taking the X-rays. So scammers may get the chance to grab the amount of the claim from the other party which is actually considered to be innocent enough.

  • The forced rear-ending

Another type of common auto insurance claim which you need to avoid for is the forced rear –ending claim which is considered to be one of the biggest and common scam which you are needed to avoid for.  It is also known by the name of crash of cash. This works in this manner, the car driver will hit up the car from behind to another car in the heavy traffic. But in all sorts of condition rear hitting is considered to be the fault of the rear driver who is driving from the car side of the front driver.

  • The phantom victim

This is considered to be something different but the common auto insurance scam which you must avoid for. The other party which is being suffering from the accident will claim for the other passengers which were not present at the same very time when the accident took place. It is considered to be one of the additional claims which the sufferer goes for when the car accident takes place. It is considered to be making it easy by the scammers when they are going for filing the form online for the claim.

 

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Advantages Of Having A Term Insurance Plan

Are you looking forward to buy an insurance to make your future secure? Well, if its so, then you must keep one thing in your mind that having enough coverage is not the only factor. You should also carefully choose between different types of insurance policies. Medically underwritten insurance is essentially different from exam term life insurance policies. Opting for any of such schemes, without knowing the actual details might only land you in trouble.

Easy obtain ability:

If you are a multi-tasker and is engaged with a number of job commitments, then you should immediately opt for the exam term insurance policy. It is the ideal plan for a buy man. Unlike the medically underwritten policy, this plan does not require to spend time at doctor’s chamber for hours and submit all documents each time you opt for a plan, rather he process of getting exam tern insurance is really simple and it ends within a short span of time.

Access through online or phone:

Another advantage of exam term insurance policy is its easy access. Be it online or telephone, you can buy and submit all the essential documents and policy form through Internet or phone. You don’t have to stand it long queues or follow your agent all the time. The insurance company of whose plan you are buying will ask for some basic questions online. This not only promises clarity and transparency in business, but also gives you clear data about the entire dealings between you and the insurance policy provider.

Quick approval:

Gone are those days when had to wait for days for your insurance policy plan to get approval. Even after submitting all required documents, buyers had to hold their horses until the claim gets the final nod of the insurance firm. But in exam term insurance plans, you just need to check the firm’s website for on the spot approval.

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What is Leasehold?

Leasehold is an agreement between a lessee and a lessor where the owner of the property sells out the property to another person for a certain period of time. One good example of leasehold property is the housing compounds which are leased for fifty or more years. It means the compound is sold to another person for some time but after the time is up the former will be the owner once again if the lease is not extended or some other arrangements are not done. The right to using that property for that period of time is agreed by both the parties and if there is a breach in the contract then the former owner will prevail in getting the property back. In cases of leasehold property there is no absolute owner of the property. People would never have the right to buy out the property. The person who has taken the lease will have the privilege and the right to be in that property for the agreed period of time. Generally a property is leased for 999 years but the time changes according to different countries and regions and laws.

If the lease is agreed for a short period of time then it can be renewed under mutual consent. There are several types of leasehold estates. Some of them are as follows:

• The most common are the period tenancy where the lessee and the lessor will be able to renew the contract after the period is over. If there is no agreement then the lease contract can be terminated for further use.
• Fixed term lease is different from period tenancy. In this case there are few restrictions which the landlord and the tenant has to agree. The terms and conditions are mentioned in the documents for the lease which is about to take place.

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How to find eligibility for mortgage loan?

eligibility for mortgage loanVarious types of mortgage loans are out in the market from a number of financial companies. However, before applying for any one it is important for you to do proper research and know about the essential criterias that the companies take into consideration before granting eligibility for a mortgage loan from their firm. Knowledge about them is all the more important since the company determines the rate of interest on the loan based on those criterias.

Your capability to pay back the loan is the most important criteria as far as the company is concerned. Your credit history and bank records will provide the company with ample information about your current financial position. There are three major credit bureaus in the US and all money lending companies can obtain the credit reports of any individual from these bureaus. Credit reports contain your income, your credits, and any late payments that you might have made towards mortgages, rent or credit card bills. If you have a good enough credit report with a credit score of over 600, you are more likely to get a mortgage loan from most lenders.

Another essential criteria is your debt-to-income ratio. This determines your eligibility as well as the interest rate on the loan. If you have a debt-to-income ratio of 28/36, you can almost be sure of getting the mortgage loan. There are also certain companies that provide the loan to customers having a low debt-to-income ratio. They do this to take in a high down payment on the loan and also a higher interest rate.

Apart from the major criterias, if you have a steady job, regular income and a satisfactory employment record, your chances of getting the loan increase all the more. You must be working under a single employer for a period of two years or more to be eligible for the loan.

Interest rates also differ if the loans are privately insured by mortgage companies or federally insured.

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All about Cyber Crime

Cyber CrimeThe increasing rate of Cyber Crime in financial institutions is creating a huge problem. This tends to increase the burden on the banks, which in turn is a burden on the customers, placing them on very high risks. Financial institution must therefore know about all the threats that they are exposed to and find out the possible solutions so as to protect themselves.

The cyber criminals plan out a very careful strategy and design new technologies which are very difficult to track, thus posing huge risk of loss to the potential customers. They are very cautious on all their moves and innovate new ways of trapping users. Such criminals set up very attractive messages on the websites of various banks and on clicking these options they get an access to your login details and passwords. Such details can be used in a very wrong way to transfer huge amounts from your account to some other account. ATM users are also exposed to cyber crime where they use different tricks to get the user’s pin number and make fake cards to transfer money from your account. Today the primary sources of conducting the transactions are the internet and ATM banks which are exposed to such risks. It therefore becomes increasingly costly to set up technologies that can prevent such fraudulent practices.

The possible solution to this sort of a problem at the macro level the financial institutions must have their services given to reliable security companies. This will also help them to reduce the cost of having an in built technology to fight against cyber crimes. Besides all this they must also have some technologies with themselves to ensure double safety. Spreading awareness among the people about the different types of cyber crimes will also make the customers be on guard and protect themselves.

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What happens to the student loan when the borrower dies?

student loanHave you ever wondered that what could happen to the student advances when the borrower dies? If you too have taken to a student loan you must be aware of the consequences lest, God forbid, something bad happens to you unexpectedly. Now, it’s to mention here that the consequences of the student loan on the borrower’s death would vary from loan to loan and state to state. The post here is a brief stating what might happen to the student loan in case the borrower meets with an untimely death.

The first question that comes here is that in case the borrower dies, is his or her spouse would be held liable for the loan or not. The answer is both “Yes” & “No”. In case of traditional loans, if the survivor spouse is not the joint-account holder or co-signer, she or he won’t be considered liable. But the situation changes if the couple had been residing in any of the community property states. In case of the community property states, the survivor spouse would have to repay, irrespective of whether she or he was the co-signer/joint-account holder or not. The community property states are California, Arizona, Louisiana, Idaho, Wisconsin, Washington, Texas, New Mexico and Nevada.

In regards to federal loans, the survivor spouse is relieved from the obligations of repayment in case the borrower dies. According to the loan regulations by American Education Department, in case the student loan borrower expires, the debt would get cancelled automatically & it would be discharged by government only. However, it’s not the case with private student debts. In regards to private student advances, whether the survivor couple is responsible for repayment depends on the specific loan policies of the lender. Thus, it’s always advised that you take up a detailed study on each of the terms and conditions of private student advances before signing the deal.

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Easy ways to get a home equity loan

home equity loanIf you are planning to buy or renovate a house, you can opt for a home equity loan. Some important information should be gathered though before taking a loan out. The amount that you will receive will differ a lot from the amount that you need to pay back. Usually loans are provided by banks or any other financial institutions. Having a secondary loan towards your property is what’s called an equity loan.

Nowadays home loans can be applied for online where a varied range is given. Though money lenders such as banks and other financial institutions are ready to provide you one, the online process is much easier and faster. You can also consult with the lenders personally on the details.

Another thing you should know before taking out a home equity loan is the interest rate that will be charged. The interest rate depends on different factors. They consider the amount that will accrue, the time period for which the loan is taken out and the size of the loan (which is a considerable factor). The fixed and variable rate should also be taken into account. A fixed rate is something that is determined at the beginning and remains the same throughout the loan period. In the case of a variable rate, the rate of interest goes up and down throughout the process of paying back the loan.

Taking out a home equity loan doesn’t mean that you can only take it to buy a new house. This is a source of income opted by many for carrying out home improvement projects with companies like DePalma Construction, which as you know, can be quite expensive. People even use the money to pay for your children’s college costs or even credit card payments. There are even short term loans with a 2-3 year repayment plan as well as long term loans with a 25-30 years repayment schedule. It just depends on how much you need.

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Tips to get affordable car insurance

car insuranceThere are quite a lot of ways for you to find a car insurance which will not harm your pocket much. A timely search in the internet will solve your problem of giving too much to the insurance company. If you want a better deal the first tip is to ask for a quote to different insurance companies. You can ask the agent to come up to your convenient place and ask him to explain the affordable insurance coverage.

Though there are many companies available who will try to make you understand that they are giving you the best and cheapest packages but the fact is that most of them does not have the clear conception of what the word ‘cheap’ is actually called. Insurance policies often provide different prices for the same policy which you need to understand clearly from the agent before going for it. Different types of discounts are also available for different packages and you need to ask the agent whether you will be eligible for a good driver discount.

A driving license and education certificates are the minimum requirements for a good driver discount. If you have more than one vehicle and if you are getting all your vehicles insured by the same company you can get the discount for multiple vehicles insurance. But if those vehicles are not insured from the same company, you will not be eligible for it. So, a change in the insurance policy will help to get this facility.

If you chose a higher deductible then your monthly premiums will be less. This way also you can save your hard earned money. It is a good option for you to choose the minimum insurance package that is allowed in your state. But choosing this option won’t be correct if you have a newer car which still costs a lot. If unfortunately any accident occurs and you want the insurance company to pay the whole amount, you should take a bigger risk. So, it is for you to decide and chose among many options that which car insurance policy will serve you the most.

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Tips To Help You Find A Good Forex Broker

Forex BrokerThe forex market is very lucrative and highly competitive. The reason behind this is that it is a globally well-appreciated market. The market is open and active for twenty-four hours every day so that traders from every nook and corner of the world can invest in currencies.

There are many forex brokers that are in business today. But a majority of them might just turn out to be fraudulent.This means that finding a good broker from among a bunch of so many fake ones is a confusing and difficult task. This article will put forward certain tips that will help you find a reliable forex broker.

It is very important that you hire brokers that are regulated by some major authority in your country. Go for the forex brokers who are actually under the direct authority of the government of your country. If the broker is listed and recognized by your government or a major regulatory authority then that means the broker can be trusted and will provide you with credible services.

Select a forex broker who knows how to respond quickly to the customer queries and has the skills of tackling all the problems that arise in the forex market from time to time. The broker should have a good reputation among all its previous customers. He/she should have years of experience in the field of forex trading.

The trading platform provided by the forex broker you choose must be flexible and simple to use. It will be beneficial for you if your broker can provide you a web-based trading platform. You can even look for trustworthy forex brokers on the internet. Go through the online reviews of forex brokers. If possible then select a broker that offers forex trading guides, courses, free bonuses, expert advices and so on for your convenience and knowledge.

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