Question about business
What business minor should I get in addition to human resource management?As a psych major I am well aware that my major is useless on its own so I am going to get some background in business by majoring in human resource management. My college also offers seven other business minors, accounting, business administration, economics, international business, management, management information systems, marketing, and personal financial planning. Which of these would be beneficial along with my HRM minor?
It is not easy for small businesses to get small business loans. Banks and other lenders require them to go through strict and complicated financial procedures with stringent requirements for qualification. After everything, credit approval is not even guaranteed.
Even the financing for loans supported by the Small Business Administration (SBA) cannot meet the needs of the majority of small businesses. Although the amount of credit available for small businesses has reportedly been increased by 25% since March this year, it is not that easy to avail of the said small business loans.
Small businesses seeking small business loans should know how to prepare the right kind of business plans that banks are looking for. To justify the loan, they should be able to show the banks in detail how they intend to use the money in business and how viable their plan is. Experts say lenders have specific points which they scrutinize applications for and applicants should know these points and tailor their submitted business plans accordingly.
It is also said that loan applicants should first establish a strong relationship with the lending bank in order to increase the possibility of having a loan approved. Banks supposedly give more small business loans to businesses they have already known and trusted long term. Since small businesses are usually new businesses, this is quite difficult to do and it cannot be done in a hurry. How can a new small business with financial needs establish a good long term relationship with a bank in time to meet its current needs?
Another requirement of lending institutions from small businesses applying for small business loans is a good credit history score. A small business should first be deemed credit worthy by the bank before it can even be considered for loan approval. Again, small businesses that are stll young are at an immediate disadvantage here. How can they establish credit worthiness in time?
The US Congress has also placed Congressional restrictions on eligibility for the Small Business Administration loans. Small businesses first have to prove that they are at least two years old and are both struggling and viable at the same time. They should present proof that they have had a positive cash flow in one of those previous two years in business. They should, however, be currently struggling with “immediate financial hardship” with a decrease in income that should not be less than 20 percent. At the same time, they should submit their projections for cash flow for the next two years, proving that they will be able to meet loan payments.
A faster way to get small business loans would be through credit card services.
Any small business should have credit card services. Credit card services enable a company to accept customer payments for goods and services via credit cards or debit cards, whether over the counter in brick and mortar settings, through the phone or online. Credit card services provide the hardware and software for this.
Being able to accept payments through credit cards or debit cards can greatly enhance a small business’ income earning potentials. In addition to that, credit card services can provide the equivalent of small business loans with no need for any collateral. The amount of the small business loans are computed based on the average monthly income of the small business from credit card payments. The small business loans are then amortized through automatic monthly deductions of a certain percentage from the small business’ future credit card revenue. This means small businesses can almost automatically qualify for small business loans through credit card services, and will surely be able to pay such small business loans. Is there a faster way than this?
About Author
Advanced Merchant Services
Contact Name: Roger Inman
P.O. Box 1475 Safety Harbor, FL 34691
Bus: 727-642-3606
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E-mail: rinman3@tampabay.rr.com
Website: www.bankcardprocess.com
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nacao
on November 29 2009
most likely the funniest video on youtube.
guzen
on November 29 2009
@kessie6509 Yeah, his faces are half the video
Toxic Waste
on November 29 2009
READ THIS
DO NOT listen to the two guys above me offering you loans. It's a damn scam. Tey will send you an application form and ask you for the processing fee, usually around 100$. And then it's good bye sucker. DO NOT fall for it.
OK, As for your question. I don't think you got a chance.
having said that, many times, what you lack in finances, you can compensate for by hard work. I'm not just telling you some hokey philosophical stuff. I have done it myself.
Cut down on all your expenses, save up money, have a vision, work hard. You'll make it
GOOD LUCK (-;
McKewls
on November 29 2009
One great way to improve your FICO score is to get a secured VISA or MasterCard. A secured credit card is one in which you open up a savings account with the card issuing bank. This savings account is used as a security deposit for your credit card. Your credit limit is based on the amount that you deposit into the savings account.
Once you have established a good record of payments on the credit card, the savings account funds are returned to you. Only use this secured credit card for gas or a few small purchases each month. When you get your bill, pay it immediately but overpay it by about $10 – $15. That way you always have a negative balance. The FICO system accelerates your credit rating quickly by doing this. Just make sure that you NEVER are late on making that payment.
This method worked very well for me when I had very bad credit. After receiving my secured credit card, it took about 8 months before I was receiving pre-approved non secured VISA and MasterCard offers from large banks.
More information about this method and other ways to improve your credit ratings can be found on the following website:
http://fixingyourcredit.blogspot.com/
__________________
psychic
on November 29 2009
converted this video to a ring-tone on tube2tone[.)com
croc10
on November 29 2009
Hello I am Mr Welson am in need of a loan and a friend of my introduce me to a loan firm call First Financial Loan Investment thank God I was loaned some DAYS AGO @ 2% rate, with no credit check.if u are in interested you can contact him via email williams7590@yahoo.com , williams7590@gmail.com
maxamillion692007
on November 30 2009
The SBA is making loans at 90% of the loan value working with SBA Banks. This is a new provision in the 2009 Stimulus plan.
Do you have equipment to start the business? You may have to start with a door to door campaign to get started with customers before you get money for the business.
If you have some equipment and you can get referrals from friends and family, you can start without the loan.
Call the SBA in your area. Also the state and local governments have loan programs for small business – If you have a computer, go to the local government for assistance.
earthlink
on November 30 2009
funny and actually pretty true to life!
determined
on November 30 2009
Kristen
on November 30 2009
A merchant cash advance gives a great opportunities for small businesses .This is up-to $300,000 but it depends only your small businesses production or monthly cash transactions .More information search from net .
Memster
on November 30 2009
I suggest that you find someone who can help you understand your problems, be willing to look at your financial records and how you operate your business.
A loan is not a solution, just a stop gap means. If the problems still exist, that loan money will disappear and you will be in the same exact situation as you are now.
Why are you having this problem? Is it because:
- you are in the business with inadequate demand for your products
- are you not marketing to the right customers
- are you not reaching customers
- are your costs structure too high
I strongly suggest you contact your local Small Business Development Center — they can recommend you to sources of local funds or loans that you may be able to get. Better yet, they can help you understand why you are having this problem and how best to resolve this
Contact your local SBDC at http://www.sba.gov/aboutsba/sbaprograms/sbdc/sbdclocator/index.html
Many first year businesses fail for a lot of reasons, but many also survive. I hope your business will be one of those that survives
Tiff
on December 1 2009
You stand a greater chance of getting a government-guaranteed loan through the Small Business Administration http://www.sba.gov/financing than a government grant
It is hard to find grants to start a business. Unlike the myths that some perpetuate, federal government and even private foundations hardly give grant money for a for-profit business. And yes, grants mean PAPERWORK – lots and lots of it, that is why a cottage industry of grant writers was born.
Nonetheless, you can go to the Catalog of Federal Domestic Assistance (CFDA) http://www.cfda.gov and Grants.gov http://www.grants.gov – these are two sites created by the federal government to provide transparency and information on grants. Browse through the listings and see if you can find any grant that would support a for-profit venture.
Even if you buy books on "how to get grants" or list that supposedly has information on grants — all of them are mere rehash of what CFDA has, albeit packaged differently. But still the info is the same – hardly any grants for starting a for profit business.
Even SBA does NOT give out grants. From the SBA website http://www.sba.gov/expanding/grants.html
"The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments."
Here is a listing of federal grants for small businesses. See if there is any available for individuals for starting a business — THERE'S NONE.
http://12.46.245.173/pls/portal30/CATALOG.BROWSE_BENEF_RPT.show
Most of the federal grants are given to specific target groups with specific requirements (e.g. minority business owners involved in transportation related contracts emanating from DOT – Grant#20.905 Disadvantaged Business Enterprises Short Term Lending Program
Grants are also often given to non profit groups or organizations involved in training or other similar activities (grant 59.043 Women's Business Ownership Assistance that are given to those who will create women's business center that will train women entrepreneurs
I suggest you read the following books to get ideas of how to finance your business:
Financing Your Small Business http://www.amazon.com/exec/obidos/ASIN/1572484500/powerhomebizguid
Small Business Financing: How and Where To Get It http://www.amazon.com/exec/obidos/ASIN/0808007386/powerhomebizguid
Financing the Small Business: A Complete Guide to Obtaining Bank Loans and All Other Types of Financing http://www.amazon.com/exec/obidos/ASIN/1580626815/powerhomebizguid
The SBA Loan Book http://www.amazon.com/exec/obidos/ASIN/158062202X/powerhomebizguid
Angel Capital : How to Raise Early-Stage Private Equity Financing http://www.amazon.com/exec/obidos/ASIN/0471690635/powerhomebizguid
Financing Your Small Business (Barron's Business Library Series) http://www.amazon.com/exec/obidos/ASIN/0764124897/powerhomebizguid
urbantool
on December 1 2009
You would like that noise.
jpro
on December 1 2009
I have not laughed this hard in years. I am covered in tears and my sides hurt. This was like a good ass kicking for me.
rails
on December 2 2009
soundz like a bunch of fucc face
Brett H
on December 2 2009
you could try micro lenders, do you have someone who will co-sign for you?
corpo
on December 2 2009
omg 3:37 funniest noise in the world
truth
on December 2 2009
OMG YOURE A DYKE!