In early 2013, getting small business administration loans became easier when the government streamlined the lending process and changed some features of the SBA’s popular loan programs. After complaints that the average SBA loan application was too complex and lengthy, the government decided to reduce the paperwork required to help expand upon the number of businesses with access to a loan or commercial mortgage. Some of the most difficult financing steps a business will face are the loans necessary at the startup phase. Getting initial funding for small business administration loans has been nearly impossible for some business owners, particularly because of the collateral and credit history requirements used in the past.One of the biggest changes to the SBA 7(a) and 504 loan programs has been the elimination of the personal resource test. Before this change, applicants would need to undergo a complex process to determine how much collateral might be required for a particular loan application. This change has benefited businesses seeking the commercial loan rates offered through SBA loans, particularly when conventional loans have been out of reach. In addition, the rule changes surrounding business affiliation have made it possible for certain companies to qualify for small business administration loans despite having a financial connection to larger companies with significant revenue.One of the biggest hurdles for qualifying for SBA loans has been the size requirement. The reason why the rules on affiliation were changed is because a large company with ties to a small company that was applying for an SBA loan wouldn’t benefit from trying to get a government-backed loan. Large companies have been able to qualify for conventional loans with rates lower than traditional SBA loan rates. However, loan limits were changed in 2010 to accommodate larger small business administration loans, as well as businesses with net income up to $5 million. This means that a company with $100 million in sales with only $5 in net income could actually satisfy SBA loan requirements.The recent changes were made to help small businesses, but overall the modifications have made it easier for larger businesses to get SBA loans, too. One of the ways in which SBA loans haven’t changed is the requirement for collateral. Despite changes to the personal resource test, business owners have still had the opportunity to put their personal assets into the application as collateral. Placing a personal home up as collateral for an SBA loan has remained a standard part of building a business from the ground up. Fortunately, the SBA has allowed applicants to use collateral not owned by the business to satisfy SBA loan requirements.Before deciding upon which loan to apply for with a local lender, a business borrower should figure out which SBA loan program would offer appropriate funds. Different loan programs available through lenders include CDC/504 loans for real estate and equipment, general SBA loans through the 7(a) program, and micro loans. The government even offers disaster loans that homeowners and renters can use. The variety of available small business administration loans ensures most small business owners can find an appropriate type.The economic recovery has helped make it easier to qualify for small business loans, and with the rule changes in effect, it has been the government’s hope that there would be additional businesses applying for SBA loans. When seeking a small business loan, it’s important for business applicants to research a variety of lenders to determine which offers the best opportunity for approval. Small business administration loans do have some eligibility requirements, but many businesses can meet those requirements by finding a lender who specializes in small business loans.
Many owners of commercial properties who are looking for a commercial loans are having problems securing one right now. The residential mortgage industry problems have trickled into the commercial mortgage industry and many lenders will only take the cream of the crop thus leaving leaving the rest dealing with hard money more expensive loans. If this is where your at there are some things to look out for.The delinquency that the residential mortgage markets experienced and scared mortgage lenders off is now projected to hit the commercial industry hard in 2010 thus making commercial mortgages even harder to come by.This being said it really puts the consumer in a vulnerable position as they generally will have a hard time going to their local banks for refinances. Once their local bank turns them down the question is where can they find a lender they can trust.There are a number of things that the consumer needs to be aware of when looking for a commercial loan. In many ways these loan can make or break a business if the loan turns out to be too expensive or there is no good exit strategies so being able to trust the lender you are dealing with is very important.In today’s markets your going to need a lot of equity in your property to qualify for a loan as lenders aren’t going to want to take the risk of a higher loan to value. If you have trouble verifying income, tax liens, marginal credit, etc. be prepared for a harder money loan that is more expensive.That being said one thing to be aware of is the commercial industry is largely unregulated unlike the residential industry. You can come across many unscrupulous mortgage brokers who aren’t looking out for your best interest. In many instances you will get an pre-approval letter and the broker will want you to give them a large sum of money up front which most times is nonrefundable. The pre-approval letter may lead you to believe you have a loan in place however it really is just a way to lock you into that particular broker. There are some brokers that make a living just taking fees to find a loan and then never actually funding a loan!Once you start your search for a commercial lender make sure if you get a letter of interest (LOI) that it is from an actual lender and not a mortgage broker. A mortgage broker does not have the ability to actually give you the money and really should not have the right to take your money stating you are pre-approved. You will ultimately have to put money up front but it should be directly for appraisals, environmental reports, title fees, etc and should be refundable.The commercial mortgage game can be frustrating however if you come across a broker you can trust then rest assured at least you can find out up front what your dealing with and how much it will cost you, which is half the battle!
In a previous article I dug a bit deeper into small business volatility but it is worth mentioning again especially in the context of getting a business started. Small business exists because large business has carved out a method to meeting the needs that doesn’t reach everyone in a market place. In other words small business is small business because large business has deemed the pursuit of such market places not worth the effort. Large businesses seek opportunities that exist in well-established mature markets. These would be markets that yield smaller margins but are also less volatile. Consequently this leaves the more dynamic and volatile markets for the small businesses. This is part of why small businesses don’t last long, they compete in an ever changing market place.
So, what does this mean for you? It means that the opportunities that will exist for you and the business you aspire to open will be opportunities that require quality and custom solutions quickly. This also means there will be a good deal of work involved in order to gain market share for you niche. Abandon any idea of providing a single product or service, you will need to diversify your products/service, customers, and possibly industries. To combat the ebb and flow of the small market place you will need diversify all aspects of your company.
Ok, now that you understand a little about the realities of the small business market place the next thing to look into is how well your potential business aligns with who you are. In the beginning stages of a business the founder is the business and the business is the founder. To offer the most value the business should be the embodiment of you and you should be the embodiment of the business. The realization of a single opportunity should not be the only deciding metric for starting a business. As an example; A few years ago I had the opportunity to start a frozen yogurt shop in my town that would have been modeled after a profitable model that was doing well in other cities. I did my homework and found that for $40,000.00 I could have everything I needed to open the doors and start selling yogurt. I decided against it for two reasons, 1. I live in a four season’s area and I did not want to have a feast or famine demand and 2. I am not that crazy about yogurt. Now, the opportunity was there, and since then many of these shops have opened, but I didn’t want to invest 80 hours a week into a frozen yogurt business.
So you have an idea that aligns with who you are, and you have come to understand the nature of the small business market place, how are you going to position your product or service? How are you going to meet the needs of the customer? The answer is somewhat laid out above, but because of the nature of the small business market place you will need to become a high quality, quick turnaround company. Small businesses have the advantage in small volume custom areas. Your competitive advantage will be your ability to cater to the specific needs of your customer. As a small business you have no business competing on price.
You are your business, and chances are you do not have much capital behind you. This means that achieving a positive cash flow situation as quickly as possible is key. Cash is king and without it you don’t have a business. The upside is small volume high quality work demands top dollar. That’s right, by being a small business you are competing in a large margin arena. The mark up on your products and services can and should be high. The market will let you know when you are too far out of range, but a healthy profit margin is to be expected with small businesses. Individuals that fail to understand this begin to lower their prices in hopes of gaining some sales but what they don’t realize is they are diluting the market and putting themselves out of business. So, don’t be afraid to charge for your work!
The last thing I will mention for those looking to start a small business is that a growth strategy is imperative. You need to have an idea of where you are going if you ever expect to make it as a business owner. By nature small businesses should only remain small for a while, if you company is not growing it is dying. Markets mature, customer needs mature, and guess what… your business should also be maturing. Knowing where your business is headed will allow you to take the appropriate measures today to set up for tomorrow’s market. A growth strategy can be vague. You don’t need to define every variable, but you should use your intuition to determine where you should position your company.
If you are planning on starting a small business understand it is a lot of hard work and there are no rules. There is no one telling you what to and not to do, you will be responsible for your success or your failure. You must be persistent and willing to invest more of yourself than the next guy in line. If it were easy everyone would do it, but because it is demanding there are only a few to compete with.
Are you tense from your higher education? Don’t want to get away from your home? Do you really strive for a PhD? Why delay then? This may be the perfect time for you to get on with your PhD education. If you are thinking of the time and distance or regarding the universities, then I can assure you of a PhD by sitting and holding your bed coffee within your bedroom. Hard to believe, isn’t it?Our global communication and technology has enhanced much that even a PhD is never an issue to end up your education or dreams of higher studies. It may be difficult sometimes to pursue a full time course for professionals like teachers. They may be most of the time busy with their seminars, lectures, academic assignments and what not. Internet is a world where many impossible things itself says that ‘I m possible’, obviously. It could owe you much more than what you imagine of and will make both your life and carrier much easier to go through. They have brought classrooms even more closely than our one arm distance.At first you have to search for the internationally known, accredited universities that will owe you online PhD education. Determine whether you are eligible or not for an online education. Once you are eligible. Then get to an online means of application and also mail every single document to the destined address. You will be given all guidance and advices by the experts of the field. Online PhD education is essentially fulfillment of dreams. You will be given all references and this latest idea of learning and practice could make you more perfect and easy in your carrier anyway.You will be provided with all study materials online and if you need any extra information then you could also download. It will be really a unique opportunity to many to get taught or coached by the best of the global academic wing. You need to complete the assignment, undertake projects, and fulfill every necessities of the course as it is in the real regular course and the same amount of pressure is placed on the candidate until the completion of the course. Online phD in education mainly deals with school safety and problems on health, planning as well implementation of activities related to education, social educational foundation d theory and practice of teaching and learning.There are many promising carriers waiting after online PhD education. You may carry on as an academic researcher, managerial posts in elite organizations, educational consultant etc. The only thing or advantage that you could expect from online PhD education when compared to regular course is that the daily routines are not time bound. All time timetables are kept by you. You will get even opportunities to speak with the administrative and business experts as well as with the students taking the same degree as you. It will give you an ambience of a real class room and you need to submit all requirements at the correct time. You may need just a system and an internet connection to own this online PhD education.
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A network monitoring tool can be acquired online for free. While most system administrators feel that anything free is of no use, but that is absolutely not true. You can find many great tools online that are free that work every bit as good as the paid versions. When looking for a free version of the tool you need, you need to be careful and choose wisely.One of the main things you need to check before you download any free tool to examine your network is it free of viruses? There are many hackers out there who just love to cause damage to other people’s systems. What they will do is take free software and put viruses on there that will infect the computer networks causing all kinds of trouble both financially and mentally.Now lets talk about the kinds of tools you need and what they can do. The over-all operation of the computer network can be managed satisfactorily using a number of these free network-monitoring-tools.The monitoring tools and their uses that can be found online for free are:1. Ping tester – a network-monitoring-tool essential for detecting servers and other network devices within a network. This kind of monitoring instrument will usually perform pinging activities in the background.2. Bandwidth monitoring tool – System Administrators need a monitoring tool that can measure bandwidth usage of each server as part of network management systems. Information logs can be extracted in a daily, weekly or monthly basis from this tool.3. Network device and node discovery tools – network management will also require a tool that can detect a network device in real-time. The System Administrator will need to know if a computer user will connect a device to the network since most technical set-up of computers have provisions for plug and play devices.4. Process and activity monitoring tools – System Administrators use protocol analyzers and network sniffers to monitor the activities going on inside the network. They are able to identify processes and activities that can pose a threat to the security and operation of the network using these network tools.5. Port monitoring tool – this network tool will monitor processes and activities at the serial and parallel ports of network devices. Some tools have enhancement and filtering capabilities that can be useful to System Administrators.6. Security monitoring tool – Network monitoring systems use this tool to detect external and internal threats to the network. Though most network-monitoring-tools that can block unwanted traffic are only available for a price, System Administrators usually use free network monitoring tools to detect these attacks and use another system to block them.A free network monitoring tool can be a great asset to any computer network. Just be sure you know that the tool you are getting is what will do you and your computer system the most good.
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