Small Business Loans and Bad Credit

Do a search about business loans and bad credit and you will see result after result touting some way or another where you can fool the banks and lenders into giving you a business loan.Follow those results and for the most part you will only end up poorer (paying those companies or individuals a fee) and still not getting the business loan you want or need.Banks and lenders use credit histories and credit scores as a time saving measure. You request a loan, they pull your credit. If your credit is bad or below their threshold, they don’t waste anymore time on your deal request and can move on to other deals that have a better chance of getting funded.I deal with entrepreneurs everyday that complain about how their bank or a private lender just won’t look at their deal because they have bad credit. I constantly hear the same thing:”Why won’t they just look at the merits of my business and not focus so much on my personal credit as it is my business that will be paying the loan back!”My answer is always the same:1) That is how the financial markets work, and2) If you want to get approved based solely on the merits of your business then find the right business loan that focuses only on the merits of your business.Sounds simple and it really is.Yes, there are business loans (and other types of business financing) that either do not look at your credit at all or if they do, do not place much weight on it (great for those credit scores that are borderline).Let’s look at three examples:1) Accounts Receivable (Invoice) Factoring: Your business writes an invoice for goods already shipped or delivered to your customer but you have to wait 10, 30, 60 days or more to get paid. Then, factor those invoices and get your cash today so that your business can pay its employees, suppliers or to complete that next job.As your business has already completed the job and shipped the goods and is merely just waiting to get paid, the lender has no reason to even consider your credit history. Instead, they focus on the next cash event – which is your customer paying you. If your customer shows a strong promise to pay as agreed, then your loan request should be approved (without pulling your personal credit history).2) Purchase Order Financing: Your business has already won over the customer and you have their job order in hand only to realize that your business does not have the cash on hand to purchase the materials and labor to complete that order.Factor that job (purchase) order for up to 100% of the cash you need to complete it. When the job is done and you collect payment from your customer, you pay back the advance and keep the profits to be plowed back into the next deal.Again, since your business has already demonstrated that it can win business, the focus of this loan approval is not based on your personal credit or the cash position of your company but in the next cash event – when your customer receives the completed order and pays you.3) Business cash Advances: If your business accepts credit card payments from its customers, then your company could qualify for a business cash advance; based on your company’s ability to continue to get customers to purchase your goods and services.Based on past results (your business’s past results and not your personal credit history), your firm could receive a cash advance to be used as working capital to re-stock inventory, pay employees, generate new business or whatever your business so desires.And, since repayment of this advance (loan) is based on future cash flow from your credit card paying customers, these lenders are not that concerned with your personal credit scores but more concerned about your business’s ability to keep getting those paying customers in the door (which is what you wanted – a business loan based on your business results and future potential and not your past credit mistakes).Now, while Business Cash Advance lenders place the onus of their loan/advance decision on your future cash flow potential, they may still pull your personal credit. The reason is that should your business shut down tomorrow, they want to be assured that you will still pay them back.But, if your credit score is border line or just a bit below what a traditional lender requires, then a Business Cash Advance just might be the financing kick start your business needs.These small business financing options were designed for businesses and business owners just like you – whether it is bad credit or a lack of cash flow or whatever reason a traditional lender states why they declined your loan request.Thus, if you are one of the many that want a lender to focus their loan approval on your business and not on your credit, then seek the right business loan; a loan that has no reason to focus on your credit (as you and your business have already done the work) but focuses more on the merits and wherewithal of your company’s future potential.So, the ball is in your court. Forget your credit score and get out there and get the business – show these lenders that your business can and has the potential to be something special and then use that potential to get the financing you need.If bad credit is holding you back from getting the business loan your company needs, maybe it is time to step up to the plate and seek a loan that is more concerned about the abilities of your business and not solely on if you have made a few credit mistakes in the past.In the end, it really doesn’t matter where that capital comes from as it all can be spent the same way – helping you grow your business into the success you know it can be.

Fashionable You

In the modern time, fashion changes every year, even though fashion is different for each social class, generation, geography and others, there are certain thing that became like a compass guide for fashion. New York, Paris, Milan, and other large cities are known as the fashion capital, this is where large fashion shows are held every year. From haute-de-couture fashion to ready wear fashion, all are available there, from novice designers to top class designers all gathered in one goal that is to introduce tomorrow’s fashion.Fashion industry has turn into a profitable business. This is also supported by the media. Fashion journalism has become an important part of fashion, critiques, comments, and advices regarding fashion can be found in printed media and so is in electronic media. There are even certain media that focus only to the fashion world, from magazines, to televisions, and now the websites.Following the fashion trend and style is not always about expensive and high cost clothing, you can also be fashionable with affordable and low budget fashion items. There are many manufacturers in clothing that always up-to-date with fashion style, some even use top class designers design as example, with alternative fabrics and other accessories so you can wear designers’ look a like clothes.Fashion is not only about the clothes you wear, it is also about the accessories and footwear, starting from the top of your head, to the bottom of your feet, all is accounted as fashion. Besides from manufacturers that took a design of a designer and then they recreate a similar design with their own brand, there are also others that copycat the design and also the brand for the items, usually high end and expensive brand that are made with high quality being replicated using cheaper fabric with low quality but the brand listed is the high end brand. This is not only cause material loss for the brand holder, it can also cause the fall of the brand image. Replica items, usually made with cheap materials and also workers, even in some countries under-aged children are worked as labor. Some even did physical abuse to the children just to keep them from running away. Do not be a fashion victim, you can be fashionable disregarding of the brand and price.

Should You Buy a Business or Get a MBA?

Profit Now or Profit LaterThose who have recently graduated from college or in the process of completing their degrees, specifically those who are majoring in business, find it hard to choose between two contrasting options: to stay in school and get a MBA – Master’s of Business Administration – or go out into the real world and start a business. To make an informed decision on this matter, there are four factors that one needs to consider: money, time, estimated return on investment and the current market condition. Those people who choose to get a masters degree do so under very stressful situations. They usually work part-time while studying, earning just enough to sustain full-time classes. These students oftentimes use their own savings, borrow money from family members or friends, and sometimes go into debt issues because of unpaid student loans. After a couple of years studying in a business school, they already possess a significant degree of education that they can use as an advantage over those who did not pursue a MBA. However, they cannot deny the fact that they are also far behind when it comes the actual world of entrepreneurship.Business Owners and the MBA programIt can be very beneficial if you decide to get a MBA program while running an already existing business. Everything you will learn from your classes can be directly applied to the business you are managing. Buying a business and running it personally will help you develop new business skills and hone those that you already have. Having a MBA degree will surely show you how to improve your weaknesses in business management. Attending a business school is also a good opportunity for you to meet new people and make lifelong professional relationships that will give you an advantage in running an existing small business. A MBA will surely give you strong credibility within local communities. Financially, you can also benefit from a master’s degree. Bankers are more than willing to approve loans to business owners who have MBAs. A good MBA program will also help you think like an executive, as the things you’ll learn from classes will guide you in business issues and expansion strategies.Becoming a Successful Business OwnerYou should know that buying a business is a costly process. You need to spend a considerable amount of money if you want to buy a business or purchase a franchise. In either option, you need to get financing assistance for the purchase price, the inventory cost, marketing and advertising expenses, and the property or equipment lease payments. The money you will spend on continuing with your MBA can also be good capital for buying a business. Your money will be returned immediately in the form of sales income. Among the simplest ways to buy a business is to go for an established franchise. This move is safer because all planning has already been done by the parent company, and the business methods and processes were also tried and tested in the market. Everything you’ll need is at your fingertips. The franchisor will guide you on the operations of the business, showing you the strategies to make the most out of your franchise. There is also a good chance that the people you will deal with at the franchisor level have already earned their MBAs.Doing it the Right WayHere is a guide on how to buy a business and get a MBA:Use your savings from college to buy a business. You may opt for an existing business or franchise because it is safer and profits come in faster. � Learn from the experts in the industry, and save up as much as you can. � Once the business is running smoothly and annual sales are remarkably growing, you can go back to school as a part-time student and pursue a MBA. � Earn more profits!The good news is that small business opportunities these days include offers to help business owners get MBAs. Also, a recent write-up in a popular business publication stated that becoming a MBA consultant or coach is a highly profitable business venture that aspiring entrepreneurs should definitely consider.The questions now are… How many business owners in your community have MBAs? Did they earn them before or after they decided to buy a business?