Earlier we discussed how a Hard Money Loan works and under what circumstances someone would request this type of loan. Because Hard Money Loans are similar to Bridge Loans, it seems appropriate to now discuss the latter of the two.
Like a Hard Money Loan, a Bridge Loan is a short term loan that can be very beneficial if you or your company need money right away. Rather than possibly waiting months to finalize a loan through the bank, Bridge Loans can be much easier to obtain. Interest rates are usually anywhere between 12 to 15 percent, with payments lasting up to 12 months.
Bridge Loans are commonly used as intermediate loans to keep a business running while it waits for a more major form of financing. Rather than allowing your company to slow its production while waiting for funds, you could receive a Bridge Loan to continue operating everything smoothly. They “bridge” the short term gap between a company’s funding sources.
Bridge Loans are also commonly used in real estate. When selling a house and buying another, Bridge Loans can be used to cover the costs until the old house is sold. Or, if you already have a good amount of funding for a property you are purchasing, but don’t have quite enough, a Bridge Loan will provide you with the last bit of funding that you need.
Find out if a Bridge Loan is right for you.
Thursday, August 4, 2011
Tuesday, August 2, 2011
Business Acquisition
It is common to hear about businesses who work in the same field acquiring one another, as it can be beneficial for both companies involved. Imagine that your beloved childhood restaurant owner is about to retire, and you don’t want to see this company close down. Buying the restaurant will keep the town’s favorite eatery in business while giving you the opportunity to generate profit. Acquiring businesses is a common business transaction in the world today, think Nextel and Sprint.
Consider, for another example, that your business has one competitor in the area whose company is less successful than your own. Suppose the rival company serves one third of the community, while yours serves the other two thirds. By acquiring the rival, your company gains whatever strengths that caused the one third of the community to use their business instead of yours. Your company’s previous strengths are now backed by the strengths of the company you’ve acquired, and you will receive more business.
There is also the case where a start up business will purchase an already existing firm. Rather than building a brand new company from the ground up, many entrepreneurs will avoid the struggles of starting a new business by acquiring another. Instead of finding customers and employees as new businesses must, you can build off an already established company.
How have your experiences been with business acquisition?
Consider, for another example, that your business has one competitor in the area whose company is less successful than your own. Suppose the rival company serves one third of the community, while yours serves the other two thirds. By acquiring the rival, your company gains whatever strengths that caused the one third of the community to use their business instead of yours. Your company’s previous strengths are now backed by the strengths of the company you’ve acquired, and you will receive more business.
There is also the case where a start up business will purchase an already existing firm. Rather than building a brand new company from the ground up, many entrepreneurs will avoid the struggles of starting a new business by acquiring another. Instead of finding customers and employees as new businesses must, you can build off an already established company.
How have your experiences been with business acquisition?
Friday, July 29, 2011
What is so appealing about an SBA Loan?
First of all, let’s discuss what the SBA is. SBA loans are Federal loans offered by lenders who partner with the Small Business Administration. The Small Business Administration is a government program that serves to support and educate small businesses. Their goal is to strengthen the economy by promoting the growth of small business.
SBA loans are often very appealing to businesses with higher credit scores because the government tries to make these loans more accessible than normal business loans. One of the program’s primary uses is to create loans that have longer repayment periods. This means lower annual payments, making it easier to get the loan and enabling businesses to borrow more than otherwise.
There are many lenders in the iBank network who provide SBA Loans. If you are looking to start or expand your business quickly, then one of the many SBA loan programs may be the best option for you.
SBA loans are often very appealing to businesses with higher credit scores because the government tries to make these loans more accessible than normal business loans. One of the program’s primary uses is to create loans that have longer repayment periods. This means lower annual payments, making it easier to get the loan and enabling businesses to borrow more than otherwise.
There are many lenders in the iBank network who provide SBA Loans. If you are looking to start or expand your business quickly, then one of the many SBA loan programs may be the best option for you.
Thursday, July 28, 2011
Changing Technology
It is interesting to note how people’s loan needs change over time as technology continues to become more advanced. For example, with the increased efficiency of auxiliary power units (APUs), iBank has been seeing a large increase in requests for Truck Equipment Loans.
Auxiliary power units are very complex machines, but one of their most advantageous qualities is that they are very fuel efficient. Because owner operator truckers need to only use a fraction of the fuel, they can save thousands of dollars each year in fuel costs by having an auxiliary power unit. This explains the increase in requests for Truck Equipment Loans.
Most of these loan requests come from owner operator truckers who want to invest in this technology because they realize how much the APU can increase the efficiency of their company. Others who already have APUs are requesting loans to invest in equipment that can further their efficiency even more.
This is just one simple example of how technology can affect businesses. It will be amazing to see how even more advanced technology will impact the economy in the future.
www.iBank.com
Auxiliary power units are very complex machines, but one of their most advantageous qualities is that they are very fuel efficient. Because owner operator truckers need to only use a fraction of the fuel, they can save thousands of dollars each year in fuel costs by having an auxiliary power unit. This explains the increase in requests for Truck Equipment Loans.
Most of these loan requests come from owner operator truckers who want to invest in this technology because they realize how much the APU can increase the efficiency of their company. Others who already have APUs are requesting loans to invest in equipment that can further their efficiency even more.
This is just one simple example of how technology can affect businesses. It will be amazing to see how even more advanced technology will impact the economy in the future.
www.iBank.com
Business Line of Credit
A Business Line of Credit is another common loan type that may be right for your business. It basically functions as a credit card with a predetermined amount of credit that can be used as needed, and can be a great tool to help cover operating expenses in order to keep your business running smoothly.
Another positive aspect about this type of loan is that no form of collateral is usually required. Additionally, Business Line of Credit Loans can be used by businesses of all sizes and credit scores.
A Business Line of Credit can be a great way to cover the short term needs of your business. In order to keep payments small so that your business can grow, some lines of credit require only interest payments at first.
www.iBank.com
Another positive aspect about this type of loan is that no form of collateral is usually required. Additionally, Business Line of Credit Loans can be used by businesses of all sizes and credit scores.
A Business Line of Credit can be a great way to cover the short term needs of your business. In order to keep payments small so that your business can grow, some lines of credit require only interest payments at first.
www.iBank.com
Tuesday, July 26, 2011
Debt Consolidation
With recent talk about the debt ceiling, it seems appropriate to discuss some different aspects of small business debt.
When a small business is in debt, many may choose to consolidate their debt. A great way to consolidate is to secure a loan that will be used to pay off all previous loan payments that you owe. These loans are usually installment loans, meaning that the loan is repaid with a fixed number of equal sized payments.
Debt consolidation is often beneficial because it may require a lower monthly payment. However, it is most convenient because it combines several outstanding loans under one loan. Rather than dealing with multiple payments, consolidating all debt under one loan can often make things much simpler.
iBank assists small businesses with all different kinds of needs. Many small businesses have chosen to use iBank to consolidate their debt through Unsecured Business Loans or Working Capital Loans. .
When a small business is in debt, many may choose to consolidate their debt. A great way to consolidate is to secure a loan that will be used to pay off all previous loan payments that you owe. These loans are usually installment loans, meaning that the loan is repaid with a fixed number of equal sized payments.
Debt consolidation is often beneficial because it may require a lower monthly payment. However, it is most convenient because it combines several outstanding loans under one loan. Rather than dealing with multiple payments, consolidating all debt under one loan can often make things much simpler.
iBank assists small businesses with all different kinds of needs. Many small businesses have chosen to use iBank to consolidate their debt through Unsecured Business Loans or Working Capital Loans. .
Thursday, July 21, 2011
Unsecured Business Loan
One of the most common loan requests we receive at iBank are for Unsecured Business Loans. These loans are so desirable because unlike most business loans that are secured by collateral, these loans are approved based off of your credit history.
Unsecured Business Loans are often ideal for new businesses. New businesses can have a hard time trying to get a loan because lenders find them more risky. By applying for this type of loan, you can avoid this problem because it is not necessary to back the loan with collateral that you may not have.
At www.iBank.com, we educate members about which type of loan is best for them. Call us at (877) 999-6465 or visit our website and see how we can assist your business.
Unsecured Business Loans are often ideal for new businesses. New businesses can have a hard time trying to get a loan because lenders find them more risky. By applying for this type of loan, you can avoid this problem because it is not necessary to back the loan with collateral that you may not have.
At www.iBank.com, we educate members about which type of loan is best for them. Call us at (877) 999-6465 or visit our website and see how we can assist your business.
Wednesday, July 20, 2011
What Does it Mean to be Your Own CFO?
Being a Chief Financial Officer consists of overseeing all financial activity of the company. From monitoring cash flows to managing financial risk, there are lots of specific responsibilities that the CFO handles.
Many small business owners deal with the company finances on their own. This can often lead to confusion and improper use of funds. Rather than focusing so much on financial activities, it is usually more productive for a business owner to spend all their time addressing the needs of their customers.
iBank helps businesses deal with their financial bookkeeping. Our resources have the right tools needed to securely handle your balance sheets, income statements, and all other financial needs. With iBank’s assistance, business men and women can spend less time keeping records, and more time focusing on growing their company.
You can submit a request on www.iBank.com if you have any questions or would like to simplify your business.
Many small business owners deal with the company finances on their own. This can often lead to confusion and improper use of funds. Rather than focusing so much on financial activities, it is usually more productive for a business owner to spend all their time addressing the needs of their customers.
iBank helps businesses deal with their financial bookkeeping. Our resources have the right tools needed to securely handle your balance sheets, income statements, and all other financial needs. With iBank’s assistance, business men and women can spend less time keeping records, and more time focusing on growing their company.
You can submit a request on www.iBank.com if you have any questions or would like to simplify your business.
Tuesday, July 19, 2011
iBank
Hello,
My name is David and I work with iBank. We have not blogged much in the past, but we are now going to start sharing more about our company.
There is no better time to become a member with iBank. As America’s #1 Virtual Small Business Finance Network, we can help you find Funding, Insurance, and Capital to kickstart your business. Let us personally assist you through a Webinar this Thursday, July 21 at 3:30pm PST. Within 15 minutes, we can show you how to efficiently navigate through your iBank Vault so that you can get connected with the right people.
We have been a trusted financial corporation since 1999, and currently have more than 530,000 small businesses in our network. Our team of skilled lending partners, insurance agents, and investors have the tools and experience needed to help make your small business happen.
Join us this Thursday at https://www2.gotomeeting.com/register/144937491, and see how we can help to get you connected.
Best Wishes,
David Dugan
www.iBank.com
My name is David and I work with iBank. We have not blogged much in the past, but we are now going to start sharing more about our company.
There is no better time to become a member with iBank. As America’s #1 Virtual Small Business Finance Network, we can help you find Funding, Insurance, and Capital to kickstart your business. Let us personally assist you through a Webinar this Thursday, July 21 at 3:30pm PST. Within 15 minutes, we can show you how to efficiently navigate through your iBank Vault so that you can get connected with the right people.
We have been a trusted financial corporation since 1999, and currently have more than 530,000 small businesses in our network. Our team of skilled lending partners, insurance agents, and investors have the tools and experience needed to help make your small business happen.
Join us this Thursday at https://www2.gotomeeting.com/register/144937491, and see how we can help to get you connected.
Best Wishes,
David Dugan
www.iBank.com
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