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How to Deal with a Bad Credit Loan

Every single day, millions of Americans struggle with the issue of having bad credit. A bad credit reputation, along with a bad credit score, can have negative impacts on a person’s life. It can prevent one from buying a home, vehicle and even from getting a job. However, all hope is not lost when you are in financial dire straits. This is because it is in fact possible to be approved for what is known as a bad credit loan.

If you are seeking a loan when you have bad credit, one thing to keep in mind is that you will charged a higher interest rate. This is because you are generally seen as a poor risk due to your bad credit history, and the lender knows that. It is somewhat of an incentive toward getting their money back. This is typical of an unsecured personal loan.

When you apply for a bad credit loan, there is some chance that the lender may take sympathy on your situation. Scenarios that are good examples of this include losing your job, recently going through a divorce and relocating to a new city or state. In some cases, your lender may reduce your interest rates if you fall under any of these categories. There are also different types of loans available for individuals with bad credit, so be sure to inquire with your lender about your options.

However, you might also possibly qualify for a secured personal loan as well when you have a history of bad credit. These loans may be more attractive to certain individuals due to the fact that they carry interest rates that are considerably lower than those of unsecured loans. You can generally qualify for a secured loan when you put up property, most often your home, as collateral toward it. You can borrow as much as 125 percent of the property value with this type of personal loan.

There are plenty of companies listed online that will offer individuals bad credit loans. However, it is wise to do your homework and check them out. Ensure that the organization is accredited by the Better Business Bureau, and always call them and make sure to speak to a person.

5 Ways To Raise Capital For a Business

One of the major challenges before any entrepreneur is to raise capital for his business. This becomes more important for a new entrepreneur as he starts the business without any contacts or experience. No doubt, a business plan, office, workers, contacts and and many more things are involved with a business but raising capital is the primary challenge. There are a number of ways to raise capital for a business and this post covers detailed information regarding those methods.

Loans From Banks

One of the easiest methods to get the required capital for a business is to take loan from a bank. In order to get loans from banks, you will have to submit security worth the loan amount. Even after the easy availability of loans, most of the entrepreneurs avoid bank loans as a medium to raise capital for business. This is bank loans are associated with high interest rates and various other complications.

Venture Capitalists

Another method to obtain necessary funds for starting a business is from venture capitalists. Since venture capitalists are very strict with approval and sanctioning loans, you must have a solid business plan based on an innovative idea. If the venture capitalists are impressed with your plan, you can easily get the required capital. In return, you have to provide them some equity in the business. One of the merits of this method is that you also get the opportunity to benefit from the experience of venture capitalists. As a result, you can modify your plan on their recommendation which can improve the chances of your success.

Private Investors

There are a number of people who are looking to invest in fresh business ideas. Most of these people are business man that want to diversify their income sources and thus are ready to invest in projects of other people. All you need to do is to search few private investors in your locality and then explain you business plan and possible returns to them. If you are able to convince them, you can easily raise the required capital for your business. Again, you should do proper planning before fixing a meeting with private investors. You should be able to justify your budget and business plans. Also, explain the whole plan from the perspective of the investors also so that they feel interested in the project. Once you have made good relations with private investors and showed him your potential, you can expect monetary helps for future projects also.

Family

If you cannot afford to pay the interest rates of banks or individual investors, you can ask your family and friends for help. This is one of the most conventional ways of generating capital for a business. These people simply give you the money for the bond they share with you.

Friends

If you are taking monetary help from a friend, you should offer him some share from the profits. Again, your attitude also plays a vital role in convincing your family and friends for investing.

About the Author: Our friend Sara Muler at www.loansforpeoplewithverybadcredit.net provided this free guest post. Please check out her website when you get a chance.

Finding the Cash to Start a New Home Business

You may have an excellent business idea, but lack the funds to get the business off the ground. This can be frustrating and often results in many people giving up on their dreams. While it may be difficult to find funding, it’s not impossible. There are a number of funding sources for small businesses. Whether you opt for something traditional or something new, you can find the money you need. Here are just a few tips for finding the cash to start a new home business.

Social Lending

If you’re afraid to approach a bank about lending, why not approach your peers? Social lending is a great option for new businesses. With social lending, you put in a request for the amount of money you need and then other individuals will fund the loan with interest rates that vary from less than 7% up to 35%. You will need a good credit score in order to get the money you need (660+) and it may take a while to get the funds you need. However, this a great, non-traditional option that is on the rise.

Local Investors

Another non-traditional method is to find local investors. A trick for doing this is to explain your business and offer free services for a period of time in exchange for start-up money. For example, let’s say you want to start a beauty salon from your home. You could offer free haircuts for several years or even a lifetime.

Government Programs

Small business has become big business with the government. There are a number of grants, loans and other financial programs that have been created to help small businesses. Start with your city government then move on to the state level and then the federal level. Chances are you’ll find at least some money to get you started.

Banks

Last, but not least, banks are the most traditional option. However, you will need to have all your ducks in a row before applying. This means having a great credit score and creating a business plan. You should also practice what you’ll say so that you are able to present your business idea in a professional manner.

There are a number of funding sources when it comes to small businesses. However, knowing about several different sources can make it easier to get all the funding you need. Just remember to only borrow what you need and not get in over your head.

About the Author: Brandon Reauish loves working with small businesses as they work to get their projects off the ground. He works closely with a logo design company to ensure each business he works with has a clearly defined brand.

The Fine Art of Bidding on Freelance Websites

In the last few years more and more workers have decided to go freelance and work for themselves. This is no surprise, both with the end of the old culture of ‘jobs for life’ and the precarious nature of the economy that makes it difficult to have confidence in your employers to keep your job secure. In addition, the global job market has been revolutionised by the rise of online contracting and freelancing sites where companies and people can outsource jobs that they need for their business and call upon the global workforce of freelancers to do their work for them. Regardless of what field you are employed in, there is a site somewhere that offers freelance work for you. A quick survey of the internet will show you that there are now hundreds of websites concentrated around connecting freelancers and contracts. The most established of these sites are Odesk, SoloGig, Virtual Assistants and Elance. Each of these provide work across all sectors, from Design and Multimedia to Engineering and from Marketing and Sales to Finance or Programming. Whatever your freelance niche, you will be able to find work. The only problem you will face is how to win the contract.

That’s because with so many people across the world also going freelance like yourself, the competition for all these jobs grows every day. No matter how good you are at your job there will always be contractors out there who are as good as you, or someone out there willing to bid lower than you to win the contract. So how do you get yourself a winning bid? Try the following:

(1) Immaculate Presentation – The first thing you should do is ensure that you have a well-written profile that is also immaculately laid out and appealing to the eye. The first place a potential client will look when considering your application is your profile and portfolio. So make it good. Put your very best work in there and outline all of your industry accreditations and qualifications. In addition, there should be a mission statement as to the way you work and a link to your own website and references. This area of the site will be your portfolio, business card and cv all in one place. Make it sparkle so people want to hire you.

(2) Reputation, Reputation, Reputation – The next most important thing to your profile is your reputation. This will be defined by the feedback that you get for every job you do through the site and will mean you are only ever as valuable as the last few jobs you have done. Get a poor review and you will find yourself struggling to get any work. This is why you always have to give 110% to every job you do through an online site – so that you build a reputation as an effective and reliable contractor. Bear in mind one thing as well – when you start out you will have no feedback at all so you will need to bid low for a while in order to win the bid. If you do this and manage to win a bid, make sure you get that all important top quality review for that first job.

(3) Tactical Bidding – There are two things to remember when it comes to bidding. Firstly, only go for those jobs you have a chance of being awarded. Bid on too much and you look desperate (plus you use up all of your credits). Secondly, you need to work out a bidding strategy that suits your work-style. Some people prefer to set themselves a minimum price that they will do a job for and then be the first to bid on a job at that price. The obvious advantage of this is that their bid will be the first one the client reads and will sit at the top of the list, getting the most attention. If the buyer likes your bid they will accept it and end the bidding early. Others prefer a different method, choosing to wait until later in the process. This has the advantage that you are able to watch the bidders before you and then put in a competitive bid that combines good quality work with a bid that sits in the middle between the highest and lowest bids.

(4) Immaculate Proposal – Lastly, make sure the proposal itself speaks to the client. Make it more appealing and more impressive than any of the other bids and show the client you have thoroughly engaged with their brief. Never, ever use a standard template to bid on jobs. They never work and you will never get the job. Highlight in your proposal how you will approach their job and include a timeline for each stage of the job and for completion.

Start with these important steps and you will quickly win your first bid.

Esther is a journalist and blogger who writes about small businesses and entrepreneurship. She also blogs for a Illinois injury attorneys.

Critical Success Factors and Key Performance Indicators

Critical Success Factors ( CSFs )as the name suggest are those factors in which you must excel in order to outperform your rivals your competitors. But this is not as easy as one may think about it at first. It is a detailed process expanding over several stages, which we will be discussing in detail below. Continue reading Critical Success Factors and Key Performance Indicators