Category Archives: Finance

Tips for Writing a Proposal for a Business Loan

You’ve just started your own business. Congratulations! It’s an exciting time, but it’s also a lot of hard work. There are so many things to do and so much to learn. For example, one of the most important things you need to do is get a loan from the bank to help finance your business. But how do you go about getting that loan? The first step is to write a business plan or proposal with which to convince the bank that your business is viable and that you will be able to repay the loan. 

Here are some tips for writing a convincing one. 

Pick a Compatible Lender

Different lenders prioritize different lendees. Some lenders prefer to lend to memory care facilities due to factors like low risk and high demand. Others are more interested in funding startup businesses because they offer more potential for growth. 

Consider what kind of lender is most likely to fund your business before you even start writing your proposal.

To find out this type of information, you can:

  • Call the bank and ask to speak to a loan officer.
  • Research the bank’s website or annual report.
  • Ask around – talk to other business owners and see who they went through for their loans.

Do Your Research

Once you’ve found a few compatible lenders, it’s time to do your research. This step is crucial and will take some time, but it’s worth it. You need to know everything about your industry, your competition, and your target market. The more you know, the better equipped you’ll be to write a convincing proposal.

To do your research, you can:

  • Read trade publications.
  • Go to industry conferences.
  • Talk to other business owners in your industry.
  • Do a SWOT analysis of your business (strengths, weaknesses, opportunities, and threats) to identify any potential risks associated in order to come up with strategies to mitigate those risks.

Write a Compelling Executive Summary

The executive summary is arguably the most important part of your proposal. This is where you need to convince the lender that your business is worth funding. You need to make a strong case for why your business is a good investment. 

Be sure to include:

  • The problem your business solves.
  • Your target market.
  • Your unique selling proposition (what makes your business different from your competition).
  • Your marketing and sales strategy.
  • Your financial projections for the next few years.

If you can convince the lender in your executive summary that your business is a good investment, they’ll be more likely to read the rest of your proposal.

These are just a few tips for writing a business loan proposal. If you take the time to do your research and write a compelling executive summary, you’ll be more likely to get the funding you need to grow your business. 

How to choose a money lending company?

When it comes to the high amount of loan then the bank is a good option but for small and quick loans you can opt for a money lending firm. You can require a loan for many different reasons which can be personal or professional and at a money lending firm, all your financial needs can be resolved quickly.

the money lending business is conducted for the past many years and now with time, it has become much more popular. It takes only a few hours and the loan is approved by the money lending firm that can be returned with easy installments. The borrowing is reliable and you don’t have to wait for a long period when you take bank loans

but before choosing any money landing firm you need to remember the following points:

the credibility of the firm

the credibility of the firm in the market is one of the things that you should check before applying for the loan. You need a trusted firm that can give you the required amount of money on time. You never want to get cheated and therefore it is good to have a little research before choosing a firm.

You can also check the testimonials of the people who have already applied for the loan and check how the services can help you to have a quick loan.

What is their loan specialty?

Every lending company is designed based on the requirements of its clients. The borrower may require a personal loan or a business loan and according to that, you should choose a specific money lending company.

The interest rates

You should check and compare the interest rates of different money lending companies to feel assured of having the loan from the right place where the interest rates are low. You should spot this requirement when you are searching for a money lending company as you don’t want to pay high interest.

A loa can be required at any time by a person and they should know a firm which they can trust and get the money quickly. As there are so many options out there you should not get confused and search for the company that is good at money lending in chinatown.

You should read all the documents clearly before signing for the loan. This saves you from any fraud and you will have the loan securely. For any household repair or for financing your business the money lending firms have all types of loans for you from which you can choose as required.

The basic difference between Tribal Lending and Payday Lending

Tribal loans are popular everywhere as they provide an easy way of financing with simple procedural policies. There are many different types of loans provided by the tribal lending communities of Native America. Here, in this article, we will get a clear idea of the basic difference between the most popular tribal loan terms.

First, Tribal Lending is the common loan option available for financing. Payday lending is the very short loan taken to solve the liquidity problems of the borrowers. To know more about it in detail visit

The basic difference between the two terms is as follows.


Tribal lending is an installment payment option for repayment of the loan. The loan can be paid back in the installments notified by the lender while taking a loan.

Payday lending is a one-time repayment loan. The total amount of the loan is to be paid back in a definite time period. Usually, it is a single-day loan scheme.


Tribal lending loans have the flexibility to pay the repayment amount in installments. It gives a good time period to the borrowers to arrange the money for repayment gradually. It avoids the load on the borrower while paying back the amount.

Payday lending has a fixed date on which the total amount of the loan is to be paid back. This is less flexible and does not allow the borrower to pay back the amount in parts.

Financial capacity of the borrower

In the case of tribal lending, the financial capacity of the borrower does not matter much. As the repayment process is long, every borrower gets sufficient time to arrange the money for the repayment.

The financial capacity of the borrower matters a lot in the case of payday loans. A borrower with poor financial performance should not go with the option of payday loans. It will be a huge risk for them to pay back the total amount on a single pre-decided repayment date.

Requirement of Collateral

Long-term tribal lending requires complete information of the borrower. Complete filing procedures with pay records are checked out before providing loans. The tribal lending parties have to communicate for a longer-term and duration, therefore, they ask for minimum security requirements due to an abrupt change in the environment.

The payday loans are for a short-term period. And, the contract ends after the repayment on the decided date. The payday loans are generally taken during an emergency and hence no requirement of collateral is needed.

Overview To Acquiring A Residence Up For Sale In Lakewood

Mosting is likely to function in ways you can not care for family members on your own. For circumstances, if it takes you at the very least an hr to visit function and also back (5 days a week), that’s 10 hrs of your time shed to taking a trip each week. Relying on each worker’s job status-part-time or complete, not-a or excluded system like Intuit Complete Pay-roll can hold back needed tax obligations and also immediately flag anything for evaluation if it appears off the beaten track (a worker functioning 32 hrs one week after that 40 the following, for instance). It likewise functions well when a manager has left the business and has not yet been changed to ensure that ghost workers can be placed right into their divisions up until a brand-new manager is selected. Regular bookkeeping of the pay-roll documents is required to find ghost workers. Ghost workers. The pay-roll personnel either develops a phony staff member in the pay-roll documents or extends the pay of a worker that has simply left the business, and also changes the settlement document to make sure that the straight deposit repayment or income is constructed to them.

The company can quickly access worker information. With this calculator, you can establish objective benefit days and also figure out just how much you’ll require to pay monthly to pay back your debt cards entirely. These software applications not just permit you to import the timekeeping information yet likewise determined pay hrs according to the per hour prices you input. 2. Go into the worker’s per hour pay price in the “Pay Price” input box. 2. Go into the identification number that we emailed you right into the “Identification number” input box. 4. If your identification number is legitimate for the computer system you are setting up the software application on, you will certainly get an enrollment secret that you can go into in the “Enrollment Secret” input box. You can utilize time clock wizard free hourly payroll the standard calculators without signing up with the website, or make use of the expert calculators with enrollment. Pick from a wide range of complimentary calculators as well as converters in the locations of financing, health, and wellness, food preparation, mathematics as well as scientific research for day-to-day, basic usage.

The unprotected financings are collateral-free. There are several methods in which staff members can dedicate pay-roll scams. After you mount the program on your workstation’s tough disk, you need to register it before utilizing it. A lot more costly option is to make use of biometric time clocks, which distinctly determine everyone that is authorizing right into the moment maintaining the system. Friend boxing. A worker organizes with his fellow staff members to punch his hrs right into the firm time clock while he takes the day of rest. Therefore, if you’re freelance, you do not need to pay FICA on all your wages, simply on 92.35% of it (92.35 being 100 minus 7.65 – which is the payment that your company would certainly have paid if you had a company, which you do not). This functions the finest in a big business where managers have huge teams. Therefore they do not track settlement in enough information.

Compound Interest

The definition of compound interest refers to the built up interest on the preliminary balance. In other terms, any financial investment that earns interest, which is contributed to the very first balance and interest, is paid on the original principal plus the combined interest. Thus, at the end, the substance interest payments increase exponentially.

As per Einstein substance interest is “one of the most powerful forces in nature.” This is true for compound interests along with your returns accumulate quickly.

An example:

Compound interest generally means interest that increases with time. Let’s take a look at the example to further comprehend the idea in depth:

Jack has a $1000, 5 year CD that pays him an interest of 5%, each year compounded. In the very first year, the CD pays $50 in interest, which is then included to the principal. In the 2nd year, the interest is paid on $1050 (total balance after adding the first year interest quantity to the primary quantity) now; the 2nd interest payment would be at $52.50 which increases the balance at a total amount of $1102.50.

Key qualities of substance interest:

  • Interest is paid on interest
  • Maximize gains on saving and investments that provide compound interest
  • You can increase the quantity owed if you have high interest on loans with minimum payments.

How to compute a compound interest?

The formula to calculate compound interest is:

P=C (1+r/n) nt


P: Is the future worth

C: The initial (first) deposit made

r: Is the rates of interest (e.g. 8% or 0.08)

n: Is the variety of times annually the interest is compounded

t: Is the variety of years invested

How compound interest matters in the monetary markets?

In the financial markets, the word substance interest is typically called as the smartest method to increase your wealth while taking the least effort from investors. The magic lies when investors keep adding money to the cost savings account at regular intervals so that there is more cash to add interest on.

Financiers should likewise consider that intensifying does not just relate to the interest earned, however likewise how much is paid in savings. For example, Joe borrowed $1000 from bank ABC, the amount of interest he would pay would be in relation to the rate at which it is intensified.

Keep in mind: The more regularly ‘compounding’ would happen, the more a person will get or pay.

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