Business Loans Without Banks:

14 Reasons A Business Owner Might Not Go To A Bank For A Commercial Mortgage

By Stephen Bush

Traditional banks serve a very important role in the North American economy. Nevertheless, when it comes to a business loan, there are many reasons that small business owners should not always use a traditional bank. There are not just one or two major reasons to obtain a small business loan from another source. As you will see below, there are over a dozen compelling reasons to consider a source other than a traditional bank for a small business loan. For most small business owners, five to ten of these reasons are likely to be applicable to them.

With many small business loan borrowers, banks have already declined their loan application. That particular compelling reason to use a source other than a traditional bank (being declined by a traditional bank) does not even appear on the list below.

Here are 14 compelling reasons a small business owner might not go to a traditional bank for a commercial real estate loan. The compelling reasons shown below also indicate that for business borrowers that can get approved at a traditional bank, there might be better options available elsewhere.

Reason # 1:
Minimum commercial real estate loan for many banks is $250,000 or more. With non-bank small business lenders, the typical minimum commercial loan amount is $100,000.

Reason # 2:
Most banks charge an up-front commitment fee. Most non-bank small business lenders do not charge an up-front commitment fee for a commercial mortgage.

Reason # 3:
Most banks will severely limit the amount of cash a business borrower can get when refinancing a commercial mortgage. When a borrower is refinancing their business property with non-bank small business lenders, they can typically get up to $1,000,000 in cash.

Reason # 4:
Most banks are reducing their commercial real estate loan interest in properties such as bars/restaurants, auto service businesses and funeral homes. Non-bank small business lenders are very interested in these business categories (and many other special purpose properties) for a commercial mortgage.

Reason # 5:
Most banks will require business plans for a commercial mortgage. The cost to provide this is usually several thousand dollars. Non-bank small business lenders typically do not require business plans as part of their underwriting process for a commercial real estate loan.

Reason # 6:
Most banks will require tax returns for a commercial mortgage. Non-bank small business lenders do not require tax returns or any income verification for a Stated Income commercial real estate loan. Many banks not requesting tax returns will ask borrowers to sign IRS Form 4506 (which authorizes the lender to obtain tax returns directly from the IRS). Non-bank small business lenders typically do not request borrowers to sign this form.

Reason # 7:
Most banks will require cross collateralization of personal property for a commercial real estate loan. Most non-bank small business lenders do not require cross collateralization of personal property for a commercial mortgage.

Reason # 8:
Most banks will require balloon payments or the loan will be subject to recall after periods as short as 3-5 years for a commercial mortgage. With a commercial real estate loan via typical non-bank small business lenders, all properties are eligible for 25-year loans and some up to 40 years.

Reason # 9:
Most banks will not permit seller seconds or secondary financing for a commercial real estate loan. With many non-bank small business lenders, if the business borrower uses a seller second or other secondary financing for a commercial mortgage, the business borrower can obtain a loan with a CLTV up to 95% of the property value.

Reason # 10:
Most banks require income verification or audits even after the commercial real estate loan closes. Non-bank small business lenders do not verify income either before or after a commercial loan closes with a Stated Income Business Loan Program.

Reason # 11:
Most banks have strict guidelines for "sourcing" or "seasoning" of assets or ownership to qualify for a commercial mortgage. Most non-bank small business lenders do not have any requirements or limitations involving sourcing/seasoning of funds or seasoning of ownership.

Reason # 12:
Very few banks offer an assumable commercial real estate loan. Typical non-bank small business lenders have an Assumable Commercial Loan Program which includes loan amounts up to $1 million.

Reason # 13:
With most banks, a typical commercial real estate loan will require 3 to 9 months to close. At typical non-bank small business lenders, most commercial mortgage loans close in 45 to 55 days.

Reason # 14:
Very few banks use Stated Income (no tax returns, no income verification) for a commercial real estate loan. Non-bank small business lenders use the Stated Income Approach for commercial mortgage loans in their Stated Income Business Loan Programs (most commercial mortgages up to $2 million qualify for these programs). This especially benefits self-employed small business borrowers who frequently have income that is erratic and difficult to document properly.

As noted above, there are many reasons that small business owners should not always use a traditional bank. A recommended follow-up to this article provides a review of the Top 12 commercial mortgage loan problems that small business borrowers should avoid ( http://steve.bush.googlepages.com/home ).

● © 2005-2006 AEX Commercial Financing Group, LLC ● All Rights Reserved ●

About the Author: Steve Bush is the Chief Executive Officer of AEX Commercial Financing Group, LLC and the publisher of The Commercial Real Estate Loans and Commercial Mortgages Guide and The Credit Card Receivables Guide.

Source: www.isnare.com
Permanent Link: http://www.isnare.com/?aid=73804&ca=Finances

My Online Home Business.

Tuesday, 12 May 2009 01:56

By Corbin Forbes

There are so many reasons why I work from home; I would like to cover a few in details. I started working from home because I’m going to college online and I wanted to make some extra money on the side. I didn’t realize my online home business would turn out to be as successful as it is. When I first thought about the idea of working from home six months ago; I just didn’t think it would turn into a full-time job. I now spend more time on my website then I do on my schoolwork. Don’t worry!! I’m still on schedule to graduate in July of ’06 with over a 3.0 grade point average in Human Resource Management. I just never thought how fun it would be to start a website and find ways to make it profitable; believe me, it hasn’t been easy. The best part about owning your own home business is the sense of pride and gratification you get from something you have created. A lot of us have and are still working at a job we can’t stand; we find ourselves not performing up to our capabilities for various reasons. Before I decided to go back to school almost two years ago; I was working as a car salesman for one of the most successful Honda dealerships on the East Coast. The money was fantastic but I didn’t like the atmosphere. I found myself coming to work everyday thinking about other things; when you’re not focused on your job, your performance slips. Even if you’re a great employee, not having focus will drop you performance output just enough to make you unhappy. I left that job to go back to school and it was the best move I’ve ever made. While going to school online I sat around and decided to think of ways to make money online. I knew it could be done; I just didn’t know how hard it was going to be to find the right program. I researched quit a few programs and spent some money; let me rephrase that last statement; I wasted some money. There are so many home business scams out there promising whoever signs-up with them will get rich overnight; well, there’s no such thing.

Another reason I work from home is the ability to learn from and meet new people; if you start your own home business; you better be prepared to work with others; the only way to make it in this business is by learning from those who are already successful. I’ve been in this business for only six months and I consider my self pretty good at this home business game; I say game because that’s the way you should treat it. For Pete’s sake, you’re working from home, you don’t have a boss who’s nagging you, and you make your own hours, it doesn’t get any better than that. You have to treat this like it’s the greatest thing that has ever happened to you; if you don’t, you’ll get burned out. The online home business strategies are changing consistently; if you don’t have fun with it, you’re in for a hurting. Don’t get upset if you have a bad month or get behind on your website maintenance; sometimes it’s good to take a break and get reenergized. This business is a marathon; no one makes it happen over night. Like I said before; this is supposed to be fun. Once you find yourself loosing interest; take a step back and regroup. The more fun you have the more you’ll want to work and learn. The more work and fun you put into your online business, the more successful you will be.

I mentioned before how important it’s to learn from others; I got lucky because I found a great mentor within three months of my online home business research. Erich Winnecke is one of the leaders in the field of Online Home Businesses. I let him know my school situation, and how I wanted to make some extra cash. Erich got back to me with some unbelievable ideas and how to accomplish them. I can honestly say I wouldn’t be where I am today without his help. When trying to find a mentor be sure to remember these people are not here to do the work for you. They make a lot of money because they work hard and spend a lot of time making their own websites more profitable. Just try to latch onto them and learn. They won’t do the work for you, but if you show them you are hungry, they will feed you the information you need to get started or improve your home business.

When starting your own home based business be prepared to spend some time and money on your development. I said I started this business six months ago; in actuality I’ve been in the hunt for about three months. It took me three months to learn and the last three months implementing what I had learned; oh yeah, I’m still learning new things everyday. Once you become stagnant in this business, you’ll be in trouble. What might be working today might not work tomorrow. I started out working about 8 to 10 hours a week and now I’m putting in about 40 hours a week on my website and advertisements. I can usually put in 5 hours a day during the week; I would like to put in more but my internship and schoolwork come first. The weekends are when I really put the pedal to the medal. On the weekends I usually put in 8 hours a day on my home business; yeah, I sacrifice some social activities, but I didn’t start this to be average; I started my online home business so I could open more doors and have a bright future. The more you put in the more you’ll get out of this.

If you’re just starting a home business or are having trouble keeping one going, here’s a few tips. Be sure to find a mentor, be prepared to spend at least $300 a month, put in at least 8 to 10 hours of work per week, read as much information as possible, join a forum that has to do with what you’re trying to accomplish, exchange links with other high traffic websites, build up your rankings on major search engines like Google and Yahoo, write at least 20 article a month and get them published, and like I said before; PLEASE HAVE SOME FUN!!! Oh yeah, I almost forgot; stay away from those scam artists out there; they’re still some of us truthful good people out there who are willing to help or listen to any ideas someone might have in order to better our businesses. I’m not a genius, I’m just someone who wants to be successful in whatever I do; if I can do it, you can do it!!

About the Author: Corbin Forbes is a 31 year old Internet Marketer from Pennsylvania. He truly cares about spreading information about his own experiences, successes and failures. He wouldn’t have gotten to where he is today without the help from so many individuals. Visit his website http://www.Corbforb.com (http://click-here-4.info/?i=44622/)

Source: www.isnare.com
Permanent Link: http://www.isnare.com/?aid=42140&ca=Business

Last Updated on Tuesday, 12 May 2009 17:10

Free Work At Home Business Tips

How To Profit With Your Home Business Idea

By Jason Paul

Let’s face it. There has never been a better time to start a work at home business and although it may seem like a daunting task in the beginning, there are some best practices that you can follow which will greatly help you profit from your home business idea. In this short article, I am going to go over a few of these and hopefully by the time you’re done reading, you’ll have some useful things that you can begin applying today to become more successful in your work from home endeavors.

The common denominator in nearly every home business success story is a refusal to give up or give in. Making the conscious decision not to quit, no matter what, is what separates the wealthy from the unsuccessful. Be prepared to do whatever it takes to make your business a success and fight off feelings of discouragement when they come your way.

Another important thing that you will need to learn in order to grow a profitable home base business is time management. Effectively managing your time is a must, especially when you do not have a boss looking over your shoulder to hold you accountable for your daily actions.

Last but not least, you need to be a goal setter in order to become a goal achiever. It has become the mantra of every motivational guru on the face of the planet, but goal setting really is a factor that you need to master in order to realize your true potential in life and in the business world.

Hopefully this article has given you some ideas that you can begin using in your work at home business to enjoy a greater level of success. Remember, never give up and stay the course no matter what comes your way and you'll succeed in all you do.

About the Author: What is The Reverse Funnel System? Discover how a lazy surf bum cracked the $100K a month code at http://www.ReverseFunnelExplained.com today. Also, check out The Reverse Funnel System blog.

Source: www.isnare.com
Permanent Link: http://www.isnare.com/?aid=190335&ca=Business

Home Business Ideas You Can Use to Start Your Own Home Based Business Today

By Jason Fulton

When you want to start your own work at home based business there are all kinds of ideas that you can use. You want to make sure that you start a business that you can be passionate about because this will help you make your business a success. So, if you want to start your own business but don’t know what you want to do, all you need are home business ideas to help you get started.

Here are some of the different work at home based business ideas that you can use to start your own home business today.

One: Start an eBay home business. This is an easy to start and you can get started for free. All you need to do is to sign up for an account and then find the products that you want to sell. Once you have the products to sell, you set up an auction and then wait for it to sell. You can even sell products from your own eBay store if you want to. A simple and effective idea.

Two: Turn-key businesses are another great work at home based business to start because with these opportunities everything is set up for you. All you have to do is to get a domain name and sign up for web hosting. Then you get started advertising your new internet home business.

Three: Affiliate programs – You can start a home based business for free by promoting other people’s products. You just find a couple of affiliate programs you want to promote and then sign up and start promoting them. A lot of people prefer this home business idea over others because you can get started immediately and you get everything you need to get started.

Four: Create your own products – This is one of the home business ideas that will be harder to start your home based business with because you will have to set everything up yourself or hire someone to do it for you, which can get expensive. Products that you can create are eBooks, PLR packages, software and anything else that you know other people are looking for.

These are just a few of the many different home based business ideas you can use to start your home based business. There are so many others. You will want to do some research to find out about all of the different home business opportunities that are available. Just remember that you want to choose your home based business carefully because your success will depend on you liking what you do.

Summary: Do you want to start your own work at home based business but you are not sure what to do? Then you need some work at home based business ideas to help you get started. You need to choose your business carefully because your success will depend on you choosing the right one for you. Find out what some work at home based business ideas are now.

About the Author: Jason Fulton is a successful internet marketer and home business mentor. Visit the Home Business Idea that combines a website, support and multiple streams of income into one great turn-key business and also take a look at his home business website where he will personally help you succeed with your own online business.

Source: www.isnare.com
Permanent Link: http://www.isnare.com/?aid=261512&ca=Business

Home Based Business Faq:

Answers To Basic Questions About Home Based Business

By Aidon Hughie Bilbao

* What are some legitimate types of home-based businesses?

Due to the number of scams that circulate on the internet, it is not wise to trust others easily, especially if they are offering an income that seems too good to be true when you are just starting a home-based business.

The following are some of the legitimate home-based businesses you can consider starting:

1. Buying and selling antiques. This has proven to be a good home-based business. All you need to do is choose a particular space in your house where you will store your antiques. You can use your stock room or your garage—and you have now your own office! If your house is large and you already have some antique furniture, you might consider converting it into a showroom for your acquisitions. Just be sure that you satisfy local zoning regulations.

2. Baking. This is another good home-based business idea. You can start by cooking at home and selling it to local people. If your neighbors like your products, your reputation will spread by word of mouth and your culinary masterpieces may start finding their way into restaurants and bakeries.

3. Child care. Babysitting your neighbors' children in the comfort of your own home may be another possibility. You can do this for only a small investment in basic equipment and toys for the kids and in advertising your business. Often flyers posted in high traffic areas around the neighborhood are enough to get your started.

4. Computer Services. You can also have a business performing some basic computer services, even if you are just a novice computer user. If you are already a computer wizard, you can perform different advanced computer jobs such as accounting and encoding payroll records for companies. You can also perform some desktop publishing for newsletters of other businesses and organizations.

5. Nursery and Gardening. This is another good home-based business that you can work at in a legitimate way. All you have to do is clear some ground and plant a garden. You can start growing flowering plants and vegetables that you can either sell around your neighborhood or to different flower shops in your locality. There is also a market for dried flowers on the internet. In some cases, you can grow particular herbs or medicinal plants that are in demand.

6. Interior Design. If you have a passion for home decorating, then interior design could be right for you. Just have the knowledge about different designs and motifs and you can start asking your neighbors or friends if they want to re-design the interior of their homes.

* How can I tell if a business opportunity is a scam?

If you want to know if a "business opportunity" is just a scam, there are two things you need to keep in mind:

1. If a business opportunity promises you a lot of money in exchange for very little work, you should beware of it. Get-rich-quick schemes are often a sign of a scam, especially when they offer large sums of money in a short period of time.

2. If a business opportunity requires some "registration fees" or some sort of down payment for materials, it may be a scam.

* How can I discover which business opportunity is best for me?

First, consider your interests. For instance, if you are fond of children, a child care center may be a good business for you. If you often tell your friends about products you love, then maybe you should establish a specialty shop.

Second, consider your skills. If you are a computer genius, for instance, computer-related services fit you. Sometimes just a bit more training will help qualify you for a type of business where you already have some skills.

About the Author: Aidon Hughie Bilbao is editor of About Home-based Business, the online Home Business guide. He also writes Home-based Business FAQ's for PrettyGreatAnswers.com

Source: www.isnare.com
Permanent Link: http://www.isnare.com/?aid=100358&ca=Business

Home Based Business Opportunity

Top 3 Mistakes Made When Starting An Internet Home Business

By Deanna Mascle

You are ready to jump on the web and make your dream a reality. You want to start an internet home business. This is a great opportunity for you to pursue your dreams and make a profit at the same time, but be wary of the many pitfalls and mistakes that can hinder the success of your home based business opportunity. Here are the top three mistakes that prevent the success of those starting an internet home business.

The first pitfall of starting an internet home business is throwing away your money. You can start your internet business on a shoestring and if you are serious about success then perhaps you should do just that even if you have the means to make a substantial investment. It is all too easy to start throwing money at programs and packages as well as advertising and web developers. Do not spend a dime on any of these things without really thinking it through and checking out all the options. So many of these information packages that cause you double, triple or even quadruple figures include or are made up solely of information already freely available on the internet. Now you may find eventually that you want to invest in some paid information from your chosen guru but until you have ready widely in the field you are in no position to select a guru to follow let alone invest in.

The second pitfall to the success of your home based business opportunity is not thinking your plan through fully and not doing your homework. This can lead directly to the first pitfall as you end up throwing money at solutions to a problem that either may not exist or may actually be an opportunity rather than a problem. The more research you do to understand the opportunity you plan to pursue as well as the mechanics of starting an internet home business then the better prepared you will be to not only create a fully developed plan but execute it as well. There is a wealth of information available on the internet so start doing your homework and thinking and planning for the future of your internet home business.

The final, but perhaps most fatal, pitfall that devastates so many of those starting an internet home business is quite simple -- thinking it will be easy. Starting an internet home business is not arduous but it does involve work. It involves time and effort to research and plan, it requires work to set up, and it requires labor to maintain and grow your home based business opportunity. Depending on your business model and plan not all stages will be similarly labor intensive but you should expect at least some portion to require your time, attention, and effort. Starting an internet home business is not like winning the lottery. It is not free money. You may not need to invest much money but you will need to invest time and effort.

If you can avoid these three pitfalls when starting your internet home business then you can earn quite a substantial payment for the investment of your time and money. You can make your home based business opportunity a success by avoiding these three pitfalls.

About the Author: Renaissance Woman Deanna Mascle shares more information about internet home business in her blog at http://ezinesbydawggone.com/

Source: www.isnare.com
Permanent Link: http://www.isnare.com/?aid=213493&ca=Business

Home Business Owners

Why Join A Home Business Mentoring Program?

By Glen B. Stewart

Joining a Home Business Mentoring program is a very powerful tool that can help you reach your potential because of the Home Business training and empowerment it provides. Home Business Mentoring is also one of the most effective ways for you to advance in your Home Business because your skills are developed and your real world performance is monitored. In short, Home Business Mentoring enables you to be the Home Business Success you Dreamed of - Sooner, and with Less Bruises.

An effective Home Business Mentoring experience is a Two-way Relationship

It is important to realize Home Business Mentoring is a relationship between two people who trust and respect each other. Home Business Mentoring is not simply a teacher-student relationship; rather, it is an insightful and motivating partnership. This partnering can leverage the benefits of both saving thousands of hours in deep research and Tens of Thousands with Ineffective Marketing. The Savvy Home Business Mentor "Sculpts your Training" based on YOUR current ability - That alone is Priceless. grow both personally and professionally.

The Home Business Mentor can aid the Owner in shaping their Home Business direction. The Home Business Mentor will usually rely on their own experiences in the past and their knowledge about the industry. Because of this, Mentoring can be a great way for an Owner to understand his Home Business options and continue to develop the Home Business in the future.

That brings up a Critical Difference in Selecting a Home Business Mentor. Hire only One that "Duplicates" their Proven Home Business Marketing Strategy - Deep With YOU ~

Most of the time, having a Home Business Mentor will boost the confidence of an Owner because they have the support, encouragement, and guidance will need. But the Home Business Mentors should also take note that challenging the Owner to do his best is the best thing they can do... Ideally - The Mentored Owner will know how to handle difficult situations and to adapt the right way in the future.

Like I said before - A Home Business Mentor program is a two-way relationship ~ This will develop critical Home Business management, leadership and marketing skills.

What are Benefits of a Home Business Mentor Program?

A Home Business Mentor will help an Owner believe in his or her capabilities as a person. Because of this, the self-confidence of the Owner will be improved and they will be more apt to accept more challenges in the future. The mentor would also enable the Owner to explore new ideas so that you can achieve a higher level of self-assurance in yourself and explore even greater highs of success. The mentoring program will be an opportunity for you to take a deeper look at yourself, your goals, your personality, and your life. This will enable you to know which the right path you should take in life is.

Home Business Mentoring - Features You Should Look For

Of course, it is inevitable that some Home Business Mentoring programs would be better than others because of the features and objectives provided by the specific program. For example, it would be better for you to get a Home Business Mentor from outside the company so that you will get an unbiased view of what you should do regardless of who your "boss" is. The Fact is - The Home Business Mentoring program would not be entirely effective if your Mentor knows your boss as well.

Likewise, the things that are discussed during the Home Business Mentorship program should always remain confidential between the Mentor and the Owner. And lastly, the Mentorship program should be focused on the both the Home Business and the Owner. The Mentor should be aware of the everyday challenges that his Owner faces so that these issues can be faced accordingly and enable the Owner to succeed in his Home Business. The Home Business Owner can now "Catch Their Own Fish". (Quite Well ~) - Glen

For more revealing Home Business Secrets - Go to the website I listed in my resource box below. - Glen
Live Vibrantly - Bask in the Passive Income Wealth Created at Home.
- Glen B. Stewart, globally known author and mentor (6 Continents).

About the Author: Enjoy this Life Transforming Home Business Resource as my Gift to you. - Glen B. Stewart If you see the value of Home Business Brand building - Get daily Home Business Secrets by Signing Up Here - http://HomeBusinessSecrets101.com/

Source: www.isnare.com
Permanent Link: http://www.isnare.com/?aid=248035&ca=Home+Management

home-businessonline.info