Mar 29 2011

Merchant Loan Or SBA Loan?

Category: Gaston Cantens — admin @ 2:25 am

The recession has sent many small business owners on a rollercoaster ride when it comes to securing funds for their businesses. First, in 2008, small business owners saw bank lending standards tighten dramatically, making it almost impossible to get a bank business loan.

Recently, laws were passed to regulate consumer credit providers, in attempt to decrease consumer debt. Unfortunately, many credit card companies raised rates on business credit cards to compensate. As a result, some merchants were forced to close their credit cards while others had their lines of credit taken away from them.

During this financially turbulent time, merchant loans have always been available for small business owners who operate retail and/or service-oriented businesses. However, recently, the Small Business Administration has introduced a new loan program and made some changes to an existing loan program, in order to make it easier for merchants to gain access to business funds.

Small business owners must now decide which method(s) best suit their businesses.

One new program that the SBA has introduced is the ARC loan program (America’s Recovery Capital), in which struggling small businesses can receive up to ,000 to be used to pay off existing debt. The SBA has also revised its 504 loan program, previously only allotted to small business owners who “…sought new loans to buy real estate, upgrade machinery and make improvements,” (Wall Street Journal). Now, the loans may be used by borrowers who want to “…refinance their existing SBA-backed loans as long as the amount is 50% or less than the total cost of expansion,” (Wall Street Journal).

Merchant loans, however, allow business owners the opportunity to receive up to 0,000 in easy, unsecured business funds.

These funds are suitable for merchants who’ve owned their businesses for at least six months and process at least ,500 in monthly credit card sales. The advance is then repaid via a small percentage that is deducted from the business’s daily credit card sales.

Merchants can visit the SBA website to learn more about these loans and determine if they are a good fit for their businesses. Merchants can also visit merchant loan websites to get a free quote and to learn more about them and whether they would work best for their businesses.

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Sep 27 2010

Consolidation Debt Help – Do Not Do This

Category: Credit / Debt Management — admin @ 6:51 pm



Debt got you down? You’re not alone. Consumer debt is at an all-time high and it’s not getting any better any time soon. Whether or not your debt problems are the result of an illness, unemployment, or simply from overspending, it can seem overwhelming and frustrating. By reading this article, you will learn some common pitfalls to avoid and consider before looking for consolidation debt help.

But whatever you do,

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Sep 03 2010

Clear Debt – Good Vs The Bad

Category: Credit / Debt Management — admin @ 11:44 am



In modern America, it is difficult to get through life without taking on some kind of debt. Most people cannot afford large purchases such as a house or education early in their lives, and so they take out loans to help them acquire these things earlier. Not all debt is harmful to your financial health, but it is important to make good decisions early in your life about what kind of debt to take on and what kind to avoid. Taking on too much debt with high interest rates can permanently destroy your hopes for a rich life and good retirement.

Good Debt

Loans which help you to invest in yourself or develop assets that don’t depreciate are good debt. Student loans, mortgages and loans for necessary medical procedures are all examples of debt that provides future returns in heightened income or lowered expenses. Loans for these items can usually be found with low interest rates, and when used wisely, can help secure your future wealth. Of course, you should always make sure that you will be able to afford the payments when they come due before taking out any loan.

Bad Debt

Consumer debt with high interest rates and no future return is the kind of debt that you should avoid. A good rule of thumb is that if you can eat it or wear it, you will not have any future return to show for it. Some credit card interest rates run as high as 25%, and if you only make minimum payments, you might end up paying more interest than principal over the decade it may take you to repay the card.

Try to evaluate debts as you would any other investment. Make your money work for you, and you will have a comfortable retirement to look forward to. But if you fail to carefully consider the kinds of debt you take on, your hard work will go towards paying credit card companies rather than yourself.

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Jan 17 2010

Non Profit Debt Consolidation Services

Category: Financial Planning — admin @ 7:00 pm



Non-profit debt consolidation services are the type of services that each and every debtor should know about. They are services that help and serve people in need of help in maintaining their financial status. They are also services now given by organizations or ‘consolidations’ in counseling and educating their clients of their financial issues, namely their budgeting plans.

Debt consolidation services are meant for consumers who are in need of support and guidance due to their mismanagement of their financial situation. Such services provide personal assistance by giving professional budget planning and credit counseling. These services provide answers for financial questions and recommend steps to resolve the consumers’ financial difficulties that may be preventing them from making the most out of their money and credit. Advice and guidelines are given to help out their needs, so they can take control over their financial situation.

There are various companies that provide these non-profit debt consolidation services where the consumers are able to speak to the company’s certified consolidation specialists who will design a payment plan that is specific to their individual needs. As we know, these companies primary objective is to help consumer to solve their financial problems. They are basically designed to help people pay off bills and pay down debts. These services are meant for all those who are not able to meet their debt and expenses with their current income.

These services have another objective that, as the consumers repay their debts through the companies, they will become more educated about consumer debt and how it affects their lives. They could act as a guide to achieve success in their financial planning. These services have been known to help lower credit cards interest rates and their monthly payments by almost half. The main objective of such non-profit debt consolidation services is to help consumers gain control of their financial system and plan their budget well.

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Dec 31 2009

Consumer Debt Solutions and Credit Counseling – How it Works?

Category: Credit / Debt Management — admin @ 3:48 pm



Do not stay confused or lame about the consumer debt solutions and credit counseling because the factual and updated information about the consumer debts solutions and credit counseling is now in your hands in shape of this article. It is your chance to get to know about the help credit counseling provides when you want a solution for your consumer debt and ease of the consumer debt solution hen you are deep stuck with an unpaid debt or any amount which has the potential to cause you a bankruptcy in future. Read along this article and you will find the tidbits of consumer debt solutions and credit counseling and how they share a relation with each other and how they help you on certain stages of your debt payment.

If we talk about credit cards, with a consumer debt solution like settlement, arbitration or negotiation you may get the jackpot and will easily manage to convince your creditor to come as low as 40% to 60% for a final lump sum payment of the debt as well as, with the help of this procedure, you can also assure yourself that your creditor will give you a complete waive of on interest amount and there is no more penalties or over due payments are involved with your final payment. But just check out what will happen if your debt is a secured one, for example, you pledged your home or any other property may be a vehicle to get that loan.

Do you know what will happen next? Yes, your creditor will make a claim for that security to sell so that he can get back to his amount. That is a time when you seek for an appropriate debt management program, the one with all the favorable aspects which best suits you the best, a company which can provide you the services required and assess your financial capabilities for that settlement whether you are best fitted or not and this is the time my friend when a credit counseling company comes in and evaluates the odds for you and in result advice you with the best management plan.

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