By Charlie Brown

Small businesses can have a challenging time trying to get financing. This is because they are presumed to be high-risk borrowers by major financial institutions. However, you can still get financing for your business irrespective of the products or services that you are selling. Here are five tips that will help you to maximize your chances of getting credit.

Secured or unsecured

Determine whether you want secured or an unsecured credit. This is because most financiers will not have issues giving you a secured loan because they already have a way of reclaiming their money.However, unsecured credit can pose challenges to most borrowers. This is because the creditor must first prove that your business is capable of repaying the loan.

Prove that your business has steady cash flow

Money is a major indicator of the future prospects and wealth of your business. You should be able to show that you have a steady and adequate flow of cash in your business. This will prove to prospective lenders that you have enough money to pay your employees and creditors and cater for operational costs on time. You should be able to provide tax returns, bank statements and financial statements. These documents help the financier to determine the liquidity and performance of your business.

Your payment history

You should maintain a positive debt payment history if you want to get credit from financiers. Lenders want to confirm that you have a good record and you pay your debts on time. Make sure that you have documents that back you up as a good borrower. You can demonstrate this by getting references of people that you deal with in the bank or your trade suppliers. (more…)

By Charlie Brown

Many people are born to be entrepreneurs. They dream of owning a business, and with the right knowledge and skills, they can now make it happen. The rise in various funding sources such as angel investors and business loans, it is now easy to build a small business right from home. Startups operate in small scale both in terms of staff and number of clients. A lot of businesses, running in the United States, are in the small business category. The majority of them are under sole proprietorship and a few in partnerships with two more people having co-ownership.

Though every startup owner wants to make his or her venture successful, there are a lot of challenges that he or she has to overcome to make it happen. Two major problems most small businesses struggle with include:

1. Marketing

2. Accounting

In most cases, with a bit of studying, business owners can grasp the basic concept of marketing, and that helps them to get started. However, accounting is a different altogether. It not only requires mathematical skills, but it also calls for experience in managing financial matters on a large scale. Startup owners may still be able to take care of the accounting part on their own if there is a lack of resources. However, as the business grows, the process gets more complicated, and they must hire professional accountants to do the job.

Need for dedicated accounting process

Due to the lack of a dedicated accounting staff, entrepreneurs tend to run the operational aspects of their business alongside handling the accounting process. Failing to juggle both aspects often leads to errors in calculations and record keeping, late filing of taxes, improper accounting practices, all of which may result in penalization by the government. (more…)

By Charlie Brown

Life is full of uncertainties and needs preparedness to meet unexpected situations with a strong mindset and a fat purse. While you might find it easier to rule over your mind, the same may not happen for finances. You will come across unexpected situations that require immediate funds and getting a loan is the most convenient way of arranging quick money to tide over the crisis. As traditional loans take longer time and have too many requirements to fulfill, most people in need of quick money prefer alternative loans. Auto title loans are quite popular for providing money almost instantly. The loan process is quite simple and consists of minimum formalities that facilitate speedier disbursement and keep borrowers happy.

The process

Lenders give the loan against the car you own, and there is no need for any other securities as collateral. Walk into the lender’s office with the car and let them inspect it to determine the amount of loan that you can get. Go through some simple documentation, provide little personal information and then wait for the disbursement by the next day. A dedicated customer support executive will take you through the entire process to make it completely hassle free.

Main attractions

There are three main attractions of title loans.

? Loans are available for any kinds of vehicles from cars to trucks including motorcycles.

? The lender does not consider your credit score for giving a loan. Even if you have poor credit, you are eligible for a loan.

? You get a loan for refinancing current outstanding title loans.

Shop around for the best deal

The loan market is very competitive, and you must shop around to get the best deal.  (more…)

By Charlie Brown

When it comes to regaining financial stability, no one likes to wait. In today’s trying times, everyone needs a little help through loans. However, when debts keep stacking one on top of another, credit rating starts to go down. Recovering from a bad credit score, though challenging and time-consuming, is not impossible. There are ways that you can employ to bring your credit score back to good shape. Let us discuss the fastest method of doing the same.

Fast credit repair – how does it work?

Most of the fast credit repair services claim to help individuals by getting certain adverse information removed from the records. One thing consumers should know is that they have the option to dispute the information which they find inaccurate. There is a 30-day time allowed by the credit bureaus to investigate this dispute. So, any common fast credit repair will surely take more than 30 days’ time.

In light of the above input, the “instant” credit repair advertisements may not always be genuine. When in a difficult financial situation, people tend to be tempted to take the easy way out. Taking advantage of this weakness, a number of fraudulent activities have risen. However, not all fast credit repair services are scams. Many such companies are run by financial experts with in-depth knowledge of fixing FICO scores, and they can offer you the assistance you need.

However, you need to remember that no credit repair service can guarantee you assured results in a particular time frame, and no reputable repair services will claim the same. Check how much experience the professional has, whether they offer services such as payfor deletion and if they can provide verifiable testimonials. You can learn a lot from a company by checking out what other users are saying about it.

Credit repair through pay for deletion services

If you have been struggling to manage your debts for quite some time, you must already be aware of your poor credit rating. To keep a tab on the changing status of your FICO score, you may avail a copy of your report from the credit bureau. If you have the papers checked out by an expert, you may discover some errors or discrepancies. (more…)