Loan Calculation – Building An Amortization Table in Excel
Knowing how to build an amortization table will give you a good handle on your monthly payment for a loan and how much you will pay in interest over the course of your loan.
I use amortization tables a lot in both business and in my personal life. For business, I usually use it to determine a monthly payment or determine the actual interest rate of a loan. Often, a loan will include a monthly processing fee or a service fee upfront – really just another form of interest, but if you are comparing two loans, you need to know what your true cost of capital is.
In personal use, I use an amortization table to determine what my mortgage interest is for the purposes of calculating my estimated taxes. I also use it for determining what the payment will be on a car loan based on different loan terms, for instance.
Information you need: Read more
Start Up Accounting – Building Your Balance Sheet
photo credit: Harley Qinn
Having started with the income statement yesterday, I might as well continue on with the balance sheet. The balance sheet is divided into two sections, the assets and the liabilities and stockholders equity. This may sound like three sections (and it is), but the point of it being thought of as two sections is illustrated in the following equation:Assets = Liabilities + Stockholders EquityAssets being what you have, liabilities being what you owe, and stockholders equity being what you own.Assets
* Current assets: Assets that are expected to be turned into cash within the next year, including
o Cash (and cash equivalents)
o Accounts Receivable
o Prepaid Assets
* Other assets include
o Net property plant and equipment (the full cost of your PPE minus accumulated depreciation)
o Goodwill
o Other long-term assets, such as deposits, prepaid multi-year licenses, etc.
You total all of these numbers to get your asset total number.Liabilities Current liabilities: Liabilities that are expected to be paid within the next year, including Read more
What’s So Good About a Bad Credit Business Loan?
photo credit: Tammy Manet
Don’t let the name fool you. Bad credit business loans can offer assistance to business owners in need, and support to struggling small businesses. In fact, there are a variety of qualities that make bad credit business loans good.
Credit
Say goodbye to impossible-to-meet credit requirements. Even if your credit score is not as high as you’d like, you may still be able to qualify for a type of bad credit business loan called a business cash advance. Business cash advance lenders do not rely on the borrower to repay the loan. Instead, the business is responsible for loan repayment. Therefore, the borrower’s credit score has less importance than with a traditional bank business loan.
Collateral
Having to use collateral in order to receive a loan can be dreadful whether or not you have the collateral to offer. If you do not have collateral, you’ve missed out on a chance to receive a small business loan to finance your business ventures. And if you do have collateral, you risk losing ownership of your property should you be unable to repay the loan for any reason. Read more
How to Prepare Properly For a Business Loan and Get Approved
photo credit: Alexander Somma
You have to convince the lender that you are a good deal, since the lender is the one that is at the highest risk, they are not ready to throw their money away, therefore it is your duty to convince them to give to a try, anything short of this, you would be denied the loan.
If you understand the process of loan application, it will be to your advantage as it will increase your chance of being approved for the loan and also getting the loan term that is best for your business. You must be sure of what you want to use the loan for before starting the application process
Purpose of loan: You have to clearly state what you want to do with the loan that you requested and it must be done by putting forward a loan proposal, as this will give the lender a clear vision of what you intend doing with the money if granted, anything short of this your chance of getting the loan will be reduced.
How much do you need: Make sure the amount of money that you require is stated, but remember the estimated loan you are requesting should not be too low or too high, as lender will not give you a loan if they think the amount of money you are asking for is too low and when you ask for what is unnecessarily high, since lenders are out to make profit, they have to be sure that they are also going get some nice returns from the money you are going to be given. Read more
Business Fundraising – Network With Your Capital Providers Before You Need The Money
photo credit: Tammy Manet
Often entrepreneurs will be in the process of building their businesses and suddenly be struck by a need for cash. The business wins a big contract or general growth has increased in speed. On the down side, the slower economy slows sales growth or customers slow down their payable cycle. Either way, this is not the time to go looking for capital.
If you ever believe you may need capital, the time to start the process is now, be it debt or equity. Take the time to get to know your banker. If you bank at a large bank, such as Bank of America, get to know the local branch manager. Find out how they process business loans. If there is a local loan officer, ask to meet with him or her. Find out what the lending standards are.
Large banks may allow the branch to approve loans up to a certain amount. Higher amounts may be kicked up to the regional or corporate offices. It would be a shame if you were denied a $60,000 loan by a corporate office, but you could have gotten a $50,000 loan approved by the local branch. Read more
Unsecured Business Loans – Finances Help You to Attain Whatever You Want
photo credit: Tammy Manet
n business, it is all about setting standards and setting the momentum, so as to reach the pinnacle of success. But then to sustain the overall growth and development, you have to branch out and explore other avenues. Moreover you have to invest a lot and this will be only possible if you are having the finances by your side. There are also some instances, where in you might want to start a new business and do not have the finances. In both the cases if you are looking for finances and for the same do not want to pledge any collateral, you can opt for the unsecured business loans. With these loans, you can obtain the finances instantly and that too without facing too many hassles.
The fact that the loans are unsecured in nature implies that you can obtain the finances without pledging any collateral. This is partly advantageous for those who do not have any asset of their own such as tenants and non homeowners. Homeowners who do not want to pledge any collateral fearing repossession can also go for the loans without undertaking too many risks. This means that the loans are beneficial for all sorts of borrowers.
As a matter of fact, the amount under these loans is approved on the sole basis of your income and repaying capability. Read more
Small Business Loans- Secured Business Loan – Providing A Conducive Atmosphere For Business Growth
- Business Loans – A Source of Finance for your Business
- Business Loans: Translating Potential for Financial Success and Independence.
- Business Loans: If You Know How To Make Good Use Of Money And Expertise
- Secured Business Loans – Equipping Your Business Blueprint With Concrete Groundwork
- The common reasons for business failure
- Successfully Closing the Strategy Gap
- A Lesson in Leverage
- Startup Company – What Are Accredited Investors and Why Should I Only Raise Money From Them?
- Choosing the Right Business Model for Your Startup
- Private Business Loans
- Private Loans for Every Situation
- Private Lenders – How to Use List Brokers to Find Money For Real Estate Deals
- Real Estate Investors – “7 Step Formula” to Secure Private Money
- Why Apply For a Private Loan?
- The Benefits of Federal Loans Vs the Benefits of Private Loans
- How to Apply For Private Student Loans
- Private Loans – The Alternative Education Loan For Students in Need of Additional Financial Aid
- Small Business Credit Cards – Let’s Analyze Them
- Economy Recovering – Bank Loans Still Scarce
- How to Get $5000 Personal Loans From a Private Individual Lender
