Financing the Purchase of a Small Business

If only I was paid a dime for every buyer that has came to me thinking they can finance a business with no money down. The truth is and this has absolutely nothing to do with the current financial crisis. You cannot finance a business with no money down. Now before the emails start filling my mailbox up with exceptions please let me explain myself.

Financing a small business requires one of these 2 options: A down payment from the buyer and seller financing for the balance, or a 100% purchase by the buyer with no seller financing. Let’s discuss them in more detail.

Down Payment & Seller Financing:

No seller in their right mind will sell a business without some form of down payment. The buyer must have an equity investment into the business for the seller to feel comfortable financing the balance and more importantly turning the business over to a new owner. Without this equity, the buyer has no exposure and could simply walk away at any time.

The typical down payment on a small business with seller financing will completely vary from deal to deal. The motivation of the seller will play a huge roll in this equation. One seller may accept 20%, another can be as high as 80%. Typically sellers would like to see the down payment close to 50%.

Terms of the Seller Financing Note:

Negotiate with the seller financing so that you are 100% comfortable in being able to cover the debt service out off the income from the business. A good place to start would be to look at a seller note amortized over 5 years (60 months) at 6 or 7% interest. (Use a mortgage calculator or auto calculator at Bankrate.com to calculate the payment) On larger transactions, the financing can spread over possibly 10 years with a balloon payment due in 5 years. A balloon payment means you will be required to pay the balance off on the last payment.

So now that we know a down payment will be required, where and how do we get the money? There are several sources from personal savings, family, friends, private investors, and banks.

Bank financing the down payment or 100% of the Purchase:

If you decide to use a bank for your financing method on the down payment there are a couple key facts to understand. Today banks are requiring buyers to put down a minimum of 15 – 20% down payment. This is money you must come up with to get the loan. In addition, you will need to have experience in the industry or least management experience and a good credit score to even qualify for the loan. Yes, that’s right. You will need to have a good credit score. Next, they will take a very close look at 3 years financial history on the business. If the business does not have strong financial tax records then you need to be considering a personal loan from the bank because a business loan is out of the question.

Personal Loan:

If you have good credit you may be able to qualify for a personal loan from the bank to use as the down payment or purchase. You may have a home you can refinance, a CD to borrow against, or another asset that can help secure the loan.

The Common Misconception from Bankers:

It is very common for bankers that do not specialize in SBA loans to unfortunately mislead buyers into believing they can easily give them a loan. It is not the bankers fault in this; they are just trying to bring in new business to the bank. The truth is very few bankers know anything about buying or financing a business. In my opinion, they just bring the new application in, process the loan and it’s the team of underwriters behind the scene that are the decision makers and who have the restrictions set in place. The best way to find a qualified SBA loan broker is to contact your local Business Broker and ask for their opinion. Business Brokers are an excellent resource for financing.

3 Bank Qualifications Needed for a Small Business Loan:

1. Experience
2. Cash Down Payment 15%-20%
3. 3 years profitable financial history on the business

Negotiate and Make the Deal Work:

Now that you understand the financing structure required to buy a business, contact a local business broker and search for a business for sale that fits your requirements. Once you find that perfect business, have the broker negotiate the financing terms for you with the owner. Remember the Broker has every incentive to get the deal done and they will go to great lengths to make the pricing and terms work.

Safe Finance For Difficult Times

In mid-January 2009 the Monetary Authority of Singapore (MAS) launched its first SGD denominated Sukuk (a bond that adheres to the requirements of Shariah law) programme. With this programme the MAS aims to promote Islamic banking and ensure that the city state continues to mature into a significant Islamic finance hub in Asia. The pole position in this sector within the region is presently held by Kuala Lumpur.

The issuance of the Sukuk by the MAS is significant progress in the development of an Islamic banking market in Singapore as it gives Islamic banks access to local currency liquidity, something that is presently absent. It thus allows the banks to provide Shariah compliant, local currency products, and solutions. With the MAS benefiting from the highest credit rating of the Government of Singapore, an important element in the Singapore’s Islamic banks arsenal has been met.

The new Sukuk is important for another reason. It proves that regional governments are beginning to be pro-active in identifying, and accessing, alternative sources of funding. This is undoubtedly the result of very tight credit markets globally, an unwanted side effect of governments globally trying to borrow their way out of the global credit crunch.

What is also remarkable is that Singapore has again trumped Hong Kong in an important area of finance. Chief Executive Donald Tsang mentioned the intention of the Hong Kong government to promote the territory as a potential Islamic finance hub in his Policy Address in 2007. Since then the government has done very little to put this, I am hesitating to use the word, vision into practice. Checking around town you will find many a senior banker frustrated in their intent to get Islamic banking off the ground through a lack of serious government initiative.

Having said this, the timing of the Chief Executive’s original statement was perfect. It was made in a time of rising oil prices, providing the main proponents of Islamic finance in the Arab world with ample cash to fund new Islamic banking ventures as well as driving the growth of the Islamic finance industry. At the time, Hong Kong should have made every effort to benefit from this ideal scenario. It did not.

Although Hong Kong has missed this, albeit very important, opportunity I believe that it is not too late to position Hong Kong as Asia’s Islamic finance hub. The paralysis of the traditional banking system has opened the door for another bite at the cherry.

Let me explain. The basic principle that underlies Islamic finance is that of shared risk. Risk should be shared between the lender and the borrower. Consequently, the lender is expected to take a greater interest in the success of the enterprise. Muslims believe that it is unfair, as well as immoral, for the lender to be guaranteed the repayment of capital plus interest regardless of the outcome of the venture. This makes for very prudent financial management. As an extension of this, there are an increasing number of commentators who argue that a global financial system subject to Islamic principles would have meant a much safer system than the very fragile house of cards we are now subject to.

Adopting this system of finance would however require a significant leap of faith from several sectors. Although Islamic finance originates in the religious writing of Islam we should regard it as much more than that. It is a socially responsible way of arranging to meet the financial needs of society which goes way beyond the religious aspects upon which it is based.

As the financial gateway to China, Hong Kong now has the opportunity to lead the second wave in the development of Islamic finance in Asia. In addition to being home to the world’s third largest Muslim community, China is in need of foreign investments and the still cash rich countries of the Islamic world are increasingly looking for Islamic investment opportunities in the Far East.

To make this a marriage made in heaven some decisive action is required on the part of the powers that be, in addition to the industry having to educate itself on what is involved in a banking system that is based on the Islamic principles, and how this can be used beneficially for all parties involved. Some of the larger financial institutions in Hong Kong already have the necessary know-how. However, the industry at large, including accountants, bankers, and lawyers has a lot of catching up to do.

Take Advantage of Online Finance Management Tools to Manage Your Finances Better

Managing your finances is not always easy. It is a time consuming task to keep track of all your bank accounts, credit cards, mortgages and various other details of your personal finance. Traditional way of book keeping doesn’t solve your problem and most good personal accounting software comes at a price.

However, the good news is that there are better and free ways to keep track of your finances. What I am talking about here is free online personal finance management tools which not only help you manage your finances by making it easy for you to keep track of your bank accounts and other financial details but also makes it easy for you to take financial decisions wisely by providing sophisticated analysis. These online tools if used properly can be of great help as apart from tools to manage your various accounts they also offer tools which helps you to analyze your spending, project your savings etc..

If you are still clueless about what I am talking about or have heard about online finance management tools for the first time, you may like to take a look at Mint.com. Mint is perhaps the most popular online personal finance management tool at the moment. It is a free service that integrates all your bank accounts, credit card accounts at one place which makes it easy for you to keep track of them. This saves you the trouble of keeping track of your bank accounts manually which can be quite time consuming if you have multiple bank accounts (we all have right?). Imagine all your bank accounts being tracked for debit/credit and being updated for you to view it on the same place. Sounds quite convenient, isn’t it? These online personal finance management tools provide you with exactly the same thing.

Moreover the online personal finance management tools also provide you with customized analysis of your spending and projection of savings thereby enabling you to make better financial decisions.

Security has been always an issue with financial matters, more so when it comes to trusting a third party website with your bank account details. But most of these websites works by authenticating your bank accounts in a standard secure way which doesn’t require them to store your account credentials and it is verified using standard gateways. This makes them more secure to use.

Racing Awards, Medals and Customized Gear for Runners

Running, whether it be a 5k with the family, a 10k for an extra challenge, or a marathon for the elite runners, can be a very exciting and memorable experience. Running is a very personal sport to lots of people, as it can be great exercise and can make you look and feel very refreshed. Tons of awards are given out to winners at races each year. For people organizing these racing events, finding customized and personal running gear can be difficult, as well as finding unique prizes for running champions. When orchestrating a race, you want to have a memorable competition. Medals and unique prizes can help to make the race more exciting. Participants can keep prizes as souvenirs, and remember the experience better because of a keepsake.
The most important souvenir a competitor can take home is a winning medal. Those are worn with pride, and showed to family members and friends. They are often hung on walls, or shown off where they can be seen. Of course, medals need to be personalized, unique, and specific. You cannot award a running champion with a medal that doesn’t recognize what it’s for. It is often a perfect idea to find a company that will provide you with customized prizes for winners. Often, you can ask for customized medals that include the date, the name of the race, and the name of the company sponsoring and orchestrating the event. That way, when people proudly show their winning medal to others, the people who made the event happen will receive the credit and publicity they deserve.

In addition to medals, running apparel and gear can be a great way to make the race more memorable. Unlike medals, gear is commonly worn and would be used often. Passing out swag, such as customized shirts, jackets, hats, and bags can be a great way to add to the excitement of the race. Races with their own gear are viewed as more unique, as they have customized logos and attractive designs. Shirts can be given out to families, and jackets can be sold at the finish line. Hats can be passed out before the race to keep the sun out of the athlete’s eyes. And, of course, bags can be kept forever and used for multiple occasions. Having the name and date of your race on these items can help to increase publicity and help the runners remember what a successful and memorable race it was. Customizing these mementos can help to define a great race, and will definitely help a race to be more exciting and enjoyable.

Gamble on Line – Possess these Various Advantages for your own

There Really are assorted kinds of games and sports which can be found around the world and human beings possess significant interest within them. There’s simply no uncertainty at the simple fact this one among the absolute most essential explanations for why the games and sports really are all important to this public is on account to how those toss some type of troubles .

There Is just 1 particular certain form of video sport which likewise causes it to be into this set of their treasured games which people are able to playwith. And it’s also not any aside from betting. Betting fulfilling the exact same and is exactly about challenges. There are areas. But once again if it regards betting on line the huge benefits really are far a great deal greater than that which it’s possible to see right now.

Now you Must definitely make certain which you’re choosing the optimal/optimally internet web sites as a way to acquire through together using the practice of betting absolutely. And this is what’s going to offer a great deal of benefits to you.

A Variety of Benefits of gaming Internet:

After Would be the numerous benefits of betting on line that individuals have to be mindful of:

· Convenience:

Comfort Is decidedly among the greatest explanations. Here really is some thing which functions being a boon because you aren’t going to need to go everywhere whatsoever.

· Engage in every time you enjoy:

This Is another benefit that is important you have to know of. The internet singapore casino has ever let exactly the exact same as properly. You may be certain you are surely becoming to engage in midnight or sunrise much.

? Perform from anyplace:

Now you Maybe in almost also you also may adore the access to the games online and virtually any nation.

Each of In making certain you’re receiving through, These items can help you With the consequences for on line.

Coloring Pages Growing Horizons Of Kids

Children are amazing. They know whatever they are taught. If You wish to enhance the horizon of one’s children, and it’s time to get them participated together with coloring pages. Yes, even they all are on line pages that offer many different ways to bring the hidden talent in your kids. These coloring pages comprises of exceptional lessons that are conveyed at a manner that is fundamental to enable kids to grasp.

Coloring Pages – Benefitting Childrem

Worrying concerning the cost in Association? Chill, as they truly have been available at no price tag. Furthermore, you need to stay away from the stress of shopping for exceptionally costly gadgets that are educational. Everything you will need to have is your distribution for your own printer. It can open the pathway for both kiddies to take high benefits in association with internet colouring pages.

You must be wondering why children Have to Be included in coloring. The main reason is that coloring an image will absolutely control the entire attention of one’s kid. They is going to be in a favorable position to concentrate regarding completing their work followed closely by presenting the most useful finished merchandise.

Parents Can Be Getting Brief Repite

Additionally, Mom and Dad Will Have the Ability to Acquire short respite as your Children will probably undoubtedly be coloring pages which is really a funny exercise. On the web coloring pages have been well known to give children several of the best educational gains entirely. They is going to soon be memorizing numbers along side titles of veggies as well as creatures.

More vulnerability to coloring, simple will probably be learning methodology. Kiddies will secure a chance to fortify the coordination between eye and hand . Since they’ll be learning to color lines, abilities will grow in a ultimate manner. Psychologists state that coloring offers an insight into emotions of children in an imaginative way.

Which exactly are you thinking? Involve your kids with coloring Pages in the earliest.

Types of Wood Siding Available for Homeowners

When building your home, even the smallest decision could make a world of difference in what it ultimately looks like. This is also true when undertaking an exterior redesign project. Siding, among other key characteristics, is one of those big decisions that could entirely alter your home’s exterior appeal based on your decision.
Although plastic siding has become a popular option in recent years due to pricing, traditional wood siding remains the preference for many homeowners. This is because wood siding offers customers numerous benefits over their plastic counterparts. Benefits include:

• Wood siding is eco-friendlier than plastic

• Wood is more aesthetically appealing

• Many types of wood are naturally resistant to mold, mildew, and rot, which allows the home owner less maintenance

• Wood lasts longer

• …And much more

One of the main benefits is that wood naturally takes to paint, stains, and other decorative options incredibly well. Plastic, on the other hand, often must be crafted in the customer’s color choice – meaning that options are limited. Once decided upon a type of wood siding, however, you can then choose any type of finish. Whether you want to paint your home the colors of the rainbow, or opt for a natural dark wood stain, anything is possible. Below we look at four of the most commonly used types of siding available: board and batten siding, bevel, tongue and groove, and lap siding. Each has their own aesthetic appeal so that there is something for every person’s unique tastes.

Board and Batten Siding

Board and batten siding is a vertical design created by using two different sized boards. The wider boards are set beneath, while the narrower boards are placed atop the joins. These narrower boards are called ‘battens.’ There are no set widths, so homeowners can choose their preference. The most commonly used measurements, however, are 1 inch by 3 inch battens placed over 1 inch by 10 inch boards.

Bevel Siding

Bevel siding is the most commonly used siding. Installed horizontally, boards are cut at an angle so that one side is thicker than the others. This creates a shingle effect, or the appearance that the boards are overlapping one another. Tongue and Groove Siding Tongue and groove siding is incredibly versatile. Available in both rough and smooth board finishes, it is fitted together tightly to give a sleek appearance. It can be installed in any direction, which does not only include horizontal and vertical, but also diagonal.

Lap Siding

Lap Siding is also known as Channel siding. This siding is very versatile, with installation capabilities for any direction (like the above tongue and groove siding). This unique siding features boards which partially overlap one another, and the ultimate results are a rustic appearance like those of a hunting cabin. If you’re interested in learning even more about wood siding -including less commonly used types available – you can contact your local siding specialist or construction expert. They will be able to give you more detailed information, including a price estimate for your area.

The Best Way You Can Double Your Winning Into Sports Betting?

Have You any idea how much cash is used on sports betting? Well, that’s a significant bit. But regrettably, a lot of the cash is equaled broadly speaking by amateurs who lose. Sports gambling isn’t simply a topic of random probability. It is far much more of the competition with experts. In online betting you can’t provide an explanation that you are a newcomer.
Much like The sport is gaining a massive share. In fact, there is a excellent share of people that have intended to change the gambling sports online betting with their whole time source of income.

To be A winner in sport betting, you have to keep aside your emotions and also follow the following strategies:

· It is all about the chances

The First step of sport gambling lies on what club you will invest your dollars. Take aid. He will certainly place his money onto that team that may give the best outcome.

· Guess by Means of Your head and not heart

Even a Because they utilize their core more than their thoughts number of individuals reduction in sports bet. Betting can be a calculative game. So, you have to understand to figure your own risks and dangers in addition to learn how not to collapse into the snare of these kinds.

· Spend Money on everything you know

Never Invest you don’t understand. This advice should also be followed for sport. Persons have a tendency to bet upon high profile matches. However, the facts is that the actual athletics professionals bet upon the people that are most ignored. This yields to raised outcomes compared to people who gamble on top superior matches.

· Acknowledge your losses

No Matter how skilful you are, you should be ready to just accept your reduction with all the Same spirit in that you simply accept the victory. Afterall, it is a game. Winning And losing is now part of each and every game.

Adding Value to Your Home with A Sunroom

Regardless of where you live, it’s likely that you want to make the most of your home’s outdoor space. Intense climates with scorching summers and freezing winters make it difficult to enjoy being outside. In addition to weather, mosquitos, flies and other pests often send people right back indoors. People are looking for ways to enjoy being outside without its nuisances. Sunrooms are an excellent solution.
The addition of a sunroom to Tennessee homes creates a middle ground between being indoors and outdoors. Though there are variations of each, the two main types of sunrooms are those with glass-paned walls and those with screened walls. Both sun and screen rooms allow you to be outside while offering you varying amounts of protection from insects and weather.

Screen rooms are the most basic and inexpensive form of a sunroom. Built onto decks or porches, the walls of a screen room protect people from insects and other pests. An enclosed roof offers shade from the sun and a cover from the rain, but for the most part, screen rooms are subject to temperatures and weather. While they can’t be temperature controlled, screen rooms can come with electricity for lighting and ceiling fans. Screen rooms are most enjoyed when the weather is comfortable.

Stepping up from a screen room, a traditional glass paned sunroom offers considerably more. Basic sunrooms provide protection from rain, snow and wind and increased protection from temperature. Electricity for ceiling fans and lighting are available as well as full temperature control for higher-end models. Because they are less subject to weather, sunrooms can be enjoyed during more parts of the year.

Like a typical room addition, sunrooms near Knoxville are a construction project. Before anything can begin, a plan must be made and building permits obtained. Once that’s in order, a foundation can be laid, walls put up and roof placed on top. With the installation completed, sun and screen rooms become a permanent addition to a home.

Whether you opt for a simple screened version or an advanced glass paned one, sunrooms are a great addition to any home. Every sunroom adds valuable and usable living space to a home. Sunrooms make excellent home offices, game rooms or art studios. The natural light of the sun with protection from insects and weather make sunrooms the perfect place to entertain guests, enjoy breakfast, or simply kick back relax.

Homeowner’s guide: common boiler faults and problems

The process of installing a boiler includes various tasks that require time and attention, from exploring multiple local boiler installer companies along with their quality of workmanship, guarantee and price to disposing of the old boiler properly. Apart from these two important steps, you have to assess the need of new thermostats, pumps and programmers, protect the new boiler with corrosion inhibitor chemicals and make sure that your installer flushes the system to remove debris and sludge. However, you cannot overlook probably the most important step of all, namely inquiring about follow-up care and annual servicing. Such useful pieces of information will give you the certainty that you will enjoy your freshly installed boiler for years to come without worrying about repairs or even replacements. Unfortunately, many homeowners make the terrible mistake of neglecting this crucial task, probably because they are satisfied about successfully completing the boiler installation process and forget about long-terms needs.
Regardless of their lack of attention when it comes to boiler servicing, all homeowners must know the most common boiler faults and issues that they will probably face over time, which include the lack of hot water and heat, loss of pressure, leaking and dripping, weird banging noises and thermostat problems. Thus, when dealing with a boiler emergency, instead of panicking, they act accordingly. Every person out there arrived home after a long and tiring day eagerly heading towards the bathroom for a warm and relaxing bath or shower only to face a cold disappointment, literally and figuratively. Most people just sit down and wait for their boiler to heath the water, but this luxury might take a few minutes or longer, depending on the age and efficiency of the boiler. The main causes leading to such an unpleasant situation refer to low water level, airlocks or motorised valve failure. In such a case, grabbing the phone and contacting a professional company for a close examination, maybe the one who installed the boiler in the first place, might be the best solution.

In what concerns the loss of pressure, you should know that in order to function properly, a boiler needs constant water pressure. Pressure drop might occur for various reasons, from a leak in the boiler system to bleeding radiators. This probably represents the most silent issue of all because if you are dealing with a tiny water leak, you might not even notice it at first. Of course, it will become a nuisance on the long term and you must take action in order to solve the problem. The worst-case scenario that you could face refers to a leaking or dripping boiler that requires urgent repairs or even a replacement. In regards to the latter, you should start considering boiler rental. Under no circumstances, you should attempt repairing the boiler on your own because you do to have the knowledge or experience of tackling a possibly broken valve. In fact, the truth is that, as a homeowner, you do not even have to because you can just call a specialist.