Archive for the ‘Commercial Loans’ Category

October 26th, 2013  Posted at   Commercial Loans, Home Based Business
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What do you expect when you about to apply for online loan? Easy requirement and fast approval are just some of the things that you are expected whenever you are applying for online loan among other factors such as high amount of loan, low installment repayment rate, and no additional fees. It is not easy to find the perfect online lender which can give you the easiest requirements and the highest amount of loan although that kind of online lender might unavailable, but there is an online lender which able to offer you something that you need and that is none other than the quick cash loan.

The quick cash loan and the auto title loan is what this new online lender has to offer to any potential clients out there because they are certainly not offering single type of loan, but they are offering two of the most popular online loan products. Both the quick cash loan and the car title loan do not need fussy and complicated loan application requirements because even if the potential clients unable to submit the requested requirements online, they can easily fax it or deliver it to the nearest representative offices.

The online lender has several goals by offering the aforementioned online loan service and they are offering title loan services in California region by continually seeking solutions to automate the title loan process, creating not only comfortable business loan environment for their clients, and getting and as well as managing the clients’ trust by being upfront and honest in all transactions and interactions. The online and offline application process means the potential clients are able to choose which type of application process that they would like to choose because both are having the same purpose and the same approval rate. You might get the chance to get the secured loans up from $2,600 up to $50,000 in minutes.

September 16th, 2011  Posted at   Commercial Loans

You are a veteran or current service member and are bitten by the entrepreneur bug. Truth be known, you have always been an idea person, and mull over in your mind constantly business models and new strategies. You can’t wait to start your own business. Or, you are currently in business and exploding with concepts for expansion. In both instances, you have always dreamed taking on the world by succeeding in your own business. Your biggest problem is: How do you start? Where do I go from here to put into effect those ideas? More significantly, who is going give you the working capital (that’s right, the money) to put those fervent hopes to the test?

Well, there is something out there for you. Congress has rightfully acknowledged the service our veterans have conferred upon the nation by providing various benefit programs. We are all aware of benefits under the categories of home loans, education, rehabilitation, and the like, but what if you are the owner of a business? Fortunately there is a program that is devised specifically for our veteran and service-disabled business owners. It comes in the form of reasonable interest business loans administered through the U.S. Small Business Administration (“SBA”) and is called the Patriot Express Loan Program.

The SBA since 1953 has been in the business of promoting the interests of small businesses. Traditionally, they were largely neglected by large banks and had to secure their financing by reaching into their own pockets, as well as gingerly extending a hand toward families and friends. So in order to encourage the banks to open up their coffers, they came up with the idea of guaranteeing any default a bank would have after loaning the money. Bear in mind this is not my money coming directly from the Veterans Administration or the U.S. government, but from private banks. The SBA loans direct taxpayer dollars only in cases of the disasters (“FEMA” loans). So then the idea is to give banks the incentive to make a loan because 85% of it is now guaranteed against default with the loss reimbursed from the government. The result: hopefully banks will be more encouraged to make the loan in the first place. This all makes sense from an economic standpoint because as we all know, small businesses grow into large and more productive business models.

If you are currently a business owner or planning to take the plunge shortly, paramount in your mind is access to capital. Even the best ideas need the backing of moneys earmarked for development, advertising, inventory, office supplies and equipment, rental of office space, production costs, payroll, and the whole panoply of cash flow needs. This applies across the board to start-up businesses as well as existing ones who wish to expand. But where do you go to receive such funding? It is a dilemma that has been analyzed by Congress and they have come up with a solution.

So for years the SBA was licensing the private lenders and monitoring their activities along this line. But what about us veterans? Finally on Flag Day, June 2007, they inaugurated the “Patriot Express Loan Program” which was specifically devised for veteran own businesses. It worked under the same business model so the capital would land in the laps of such deserving business owners. Making it even easier, all existing licensed SBA lenders could get involved in the program with little paperwork. In fact, they used the same basic forms.

The loan amounts are between $5,000 and $500,000. The larger loans typically require 100% real estate collateral, more comprehensive financial paperwork, and a cash down payment if you are startup. But for the smaller loans between $5,000 and $25,000, they trimmed down the paperwork and made it especially easy without tax returns, business plans, or financials. As a “lean and mean” application process, it allows the lenders to make decisions within one or two days with funding in ten days by the wiring of the funds directly into a business account. (more…)

September 15th, 2011  Posted at   Commercial Loans

There are around 45 millions of veterans in America today. They are important members of the small business communities. Government agencies do not provide grants to veterans for starting a business. In that case, people borrow debts for the commercial purpose. If you are a veteran and wish to start your own business , then you must follow the patriot express loan offered by the president Obama that consists of various programs of Small Business Loans For Veterans for the needy people.

SBA is committed to help the service people in America and approaches directly to the patriot express loan for the people who wish to start the commercial activities, and in the process encourages job creation and growth which is an essential part to promote economic agenda.It also provides small business loans for veterans.

The patriot express loan is offered by SBA which can be used for many commercial purposes that include start-up, working capital, expansion, inventory or equipment purchases. You will be amazed to know that more than 14% of commercial activities in America and SBA guarantees more than $1 billion debts annually for the owners.Therefore emphasis is also given to veterans by providing them with commercial loans.

Patriot express loan is available to military community members including veterans, service-disabled veterans, active-duty service members participating in the military’s transition assistance program and the widowed spouse of a service member or veteran who died during service or of a service connected disability.This loan features particularly the level of authority to the lender under the plan and they consider that patriot express loan must be used exclusively for business related purposes.

Therefore, SBA expects lenders to make use of reasonable methods to make sure that debt is used only for small commercial purpose. All this work is done with proper verification and proofs to obtain guaranteed mortgage from federal agencies.

Lenders must specify clearly that all mortgage they are providing must be only used for small business purpose . Small Business Loans For Veterans features SBA lower interest rates and they cannot charge fees before the patriot express debt is provided to the borrowers. It is generally 2.25% to 4.75% over prime rate depending upon the size and maturity of the mortgage. (more…)