A bad credit unsecured small business loan is much like a bad credit personal loan in that it does not require the pledge of collateral against a loan. This type of loan is usually applied for when a business needs to build working capital. Despite the fact that no assets are at risk to the borrower, failure to pay back an unsecured loan can have a negative impact on his or her credit report. Some of the benefits of bad credit unsecured small business loans are that they are easy to obtain, process quickly, and pose a low risk for personal loss.When applying for one of these loans, an individual should prepare a presentation that would motivate potential lending institutions to secure such a loan. A convincing presentation should include the goals of the business, how much money is needed, and how the money will be spent. Additional information that would help potential lenders decide whether or not to invest in a business consists of the financial and management profiles of the business.The interest rates for bad credit unsecured small business loan vary according to the borrower’s credit history and down payment plan. A competitive interest rate can be negotiated if the borrower exhibits character, management skills, and strong business dedication. Other variables to consider before obtaining an unsecured loan include the prepayment terms and the lender itselfA bank construction loan is a loan provided a bank for the construction of buildings for a business. Loans are available for the purchase of real estate, construction or renovation of buildings, and permanent financing. Securing a construction loan can greatly increase the financial stability of a company.The requirements to apply for a bank construction loan depend on the bank offering the loan. Generally, any individual who owns a certain percentage of the company is required to sign the application and supply a personal guaranty. Individuals must also provide both personal and business tax returns. The greater the amount of the loan, the more financial information will be required to prove the profitability of the business and the ability of the owners to repay the loan. Banks analyze many factors, including collateral, credit history, income, existing debt, and the life of the business, before deciding to secure a construction loan.Interest rates and payment plans (including down payments) also vary according to the institution offering the bank construction loan. The majority of construction loan terms range from six months to one year. In some cases, banks are unable to loan to businesses located in certain states or areas. Some banks have simplified the construction loan process to minimize the number of documents, people, and payments borrowers must deal with. Individuals may even be given the option to hold loan payments until after construction is completed.
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.
Small Business Loans – Encouraging Business Initiatives
Being a small business owner is not easy. Apart from the problems that the small business owners have to face in operating business, the severest of problems is in raising capital. It is not easy to raise capital for business use; particularly in an environment in which small business owners are accorded a status similar to borrowers with bad credit. Self employment is considered a bad credit case because of the unstable income generation through small business. It is said how a small business owner will pay fixed installments on a loan if he has not made much income (profits) in a particular month. Banks and financial institutions are thus not receptive to the demands of the small business owners.However, a loan can be designed particularly suited to the small business owners. Few lenders, who did not want to lose on the opportunity of lending to the rising group of small business owners, devised such loan. It is known as small business loan. Small business loans are advanced to small entrepreneurs who invest it in a series of purposes like expansion of their facility, buying technology, purchasing new tools and equipments, and also to buy raw materials and pay wages to workers.Lenders advance small business loans on the principle of moderate risk, which is no different from lending any other loan. The principle of moderate risk implies lending by keeping sufficient cover against risks. Therefore, while designing the terms of the small business loans, lenders are often seen to be using this principle. Take for instance, the rate of interest. The rate of interest charged on small business loans is higher than the normal. Similarly, lenders will only lend a limited sum on small business loans. These are sufficient proof of the manner in which lenders prepare for any risk that may emerge in the future.What differences can a borrower notice in small business loan, which goes in his favour? Borrowers can get an arrangement designed by which they can repay loan installments with ease. Small business loan with a flexible repayment schedule sufficiently solves the problem of the self employed people. Through a flexible repayment schedule, borrowers do not need to make repayments of a pre-specified amount and a pre-specified period. Depending on the income that they are able to salvage in that period, they can make repayments accordingly. Therefore, in certain months (or any periodicity chosen by borrower to make repayments) there can be underpayments, overpayments, and no payments at all (termed as payment holiday).However, not all lenders may be ready to accommodate your financial condition thus. If you consider the clause of flexible repayments so necessary in your case, then you must mould your search operations accordingly. With the help of brokers, searching small business loan according to ones desired criteria is not very difficult. Brokers are associated with several loan providers in the UK. When a person applies for small business loan to these brokers, they forward it to all the lenders who they think can appropriately advance loans to the entrepreneurs. The broker conducts the entire search operation. The borrower just has to choose from the large number of deals that the lenders forward. Brokers can also arrange small business loans from lenders who accept flexible repayment. Similarly, other specific requirements of borrowers can be incorporated into any small business loan searched. Brokers charge certain fees for their services. However, the best deal that these help to find will make the issue of fees irrelevant.Small business loans can be either short term or long term. A short-term small business loan is repayable in a period ranging from certain months to a year. Long-term small business loans on the other hand, advance money for as long as 25 years. Depending upon ones requirement, the small business owners can decide term of repayment and other terms and conditions of the small business loan.
Although problem gambling has been primarily thought of as an adult behavior, recent research has suggested that it remains a very popular activity amongst both children and adolescents.
Studies conducted over the past decade suggest that gambling activities remain particularly attractive to today’s youth and that its popularity is on the rise amongst both children and adolescents. Prevalence studies conducted in the United States, Canada, New Zealand, Europe, and in Australia all confirm the rising prevalence rates of youth involvement in both legal and illegal forms of gambling. While approximately 80% of High School students report having gambled for money during the past year, 4-8% of adolescents presently have a serious gambling problem with another 10-14% of adolescents at-risk for developing a serious gambling problem (Jacobs, 2000; National Research Council, 1999; Shaffer & Hall, 1996). Yet, for most parents and teens, gambling is viewed as an innocuous behavior with few negative consequences.
Gambling Only for Over 18s
Most sportsbooks will be very cautious when opening accounts, and also when placing bets by phone. Most of them will check if an account is being used by a minor or ask for a proof of age, but for online sports betting becomes really difficult for a Sportsbook to know if an account is being used illegally.
There is a couple of ways to prevent your children from gambling, and it’s called Parental Control Software, sure you have heard of them Net Nanny, Spy Parent, Cyber Sitter, Control Kids are just a few of them. These programs will stop theme related pages from displayed in your computer if the parental lock is activated. Please be sure to check them to keep your children safe from youth problem gambling.
The good thing about them also is that they will stop your children from viewing any inappropriate content, ranging from online gambling to adult sites.