Archive for March, 2010

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Easiest Ways to Finance Home Improvement Projects

Wednesday, March 31st, 2010

Many people are trying to sell their house right now and they’re finding that the market still favors home buyers over home sellers. In order to make your home more attractive to a potential buyer you may need to consider some small upgrades or home improvements to set it apart from the competition. Home improvements can not only help you sell your home but depending upon the upgrades you choose to perform they may actually help you get a higher selling price for your home.


In order to improve your home the way you should you’re going to need to set some money aside to really get the job done the right way. You could save some money on your home improvement projects by perfoming them yourself, but if you’re in a hurry to sell your home then you may want to consider hiring a professional.


There are several ways you can borrow the money needed for quick home improvements, but some methods of financing a big home improvement project are much easier than others. Here are some of the more common ways of paying for large home upgrades in order from easiest to most difficult to attain.


The easiest way to actually pay for a large home improvement project is to have the money on hand already. Not a lot of people have thousands of dollars hanging around but many people do have items they can sell to raise some money. You could sell old tools, a boat, a car or simply go through your basement and sell items online all to raise the money you need to pay for a home improvement project. Depending upon what you have to sell this could either be the easiest or most difficult way to finance a home improvement project.


Home improvement store credit cards are another way to pay for smaller home improvement projects, usually totally ten thousand dollars or less. Getting a credit card from a hardware store is usually not very difficult even if you have questionable credit. The problem with cards like this is that they can sometimes have high interest rates and high fees if you aren’t careful. To get a home improvement store credit card you usually just have to fill out a single form from the store.


You can also use the equity in your home to get a home improvement loan. You could take out a home equity line of credit, a home equity loan or even a second mortgage based on your needs. These types of financing are more difficult than a credit card to obtain and they’re dependent upon you having enough equity in your home to qualify for them. Most of these types of loans carry an initial fee of a couple hundred to several thousand dollars and there are usually closing costs and inspections to go through as well.


The most difficult type of loan to get for a home improvement project is probably a loan directly from a bank without putting anything up for collateral. To get a loan like this you’ll probably want to present the bank with detailed improvement plans, quotes from one or several contractors and proof of steady income. Different banks offer different types of home improvement loans and some may be more willing to work with you than others.


Generally, it is easier to pay for home improvement projects by selling things or having the cash on hand than it is to apply for any sort of home improvement loan. Home improvement credit cards are easy to obtain and good for small projects, home equity loans are good for larger projects if you have the equity in your home and straight bank loans are usually the most difficult loans to obtain for home improvement purposes.

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Financing Options for Import Companies

Tuesday, March 30th, 2010

Whether you are starting an import business or have an established importing business, it can be a very profitable venture if you have the right financing to grow your business. Imports are defined as: a good that crosses into a country, across its border, for commercial purposes; a product, which might be a service that is provided to domestic residents by a foreign producer; or a combination of the two.

Starting or running an import business has never been more profitable because of computers, the internet, and the availability of low cost imports from countries such as China and Mexico. These imports may be resold for up to ten times their cost depending on the competition in your field of operations.

It is essential that you have good, honest suppliers plus creditworthy customers with purchase orders for your imports. If you have the right financing, your business can grow exponentially. But how do you finance growth if your own resources or bank lines of credit are not sufficient to take advantage of big opportunities? A combination of purchase order financing, accounts receivable financing with inventory financing may be the solution.

Definitions:

Purchase Order Financing

Purchase Order financing is the assignment of purchase orders to a third party, a commercial finance company, who then assumes the obligation of billing and collecting. Purchase order financing can be used to finance all current and subsequent orders to improve your company’s cash flow. The process works as follows: 1) Your company obtains a purchase order for products to be sold another company; 2) A letter of credit may be issued, based on a finance companies’ credit, to guarantee payment to suppliers or factories producing the goods; 3) The order is shipped, delivered and accepted by your customer; 4) The customer receives an invoice for the goods; 5) The Purchase Order Company pays the supplier/factory; 6) a commercial finance company or Accounts Receivable Finance Company pays the Purchase Order Financing Company after the products are delivered to your customer; 7) The customer pays the commercial finance company for goods received; 8) The accounts are settled and the profit is paid to you.

Accounts Receivable Financing

Accounts Receivable Financing is the selling or pledging of your company’s account receivable, at a discount, to a Factor, a Commercial Finance Company or to an Accounts Receivable Financing Company who may assume a risk of loss. You receive a portion, usually 80% to 90% of the face value of your receivables in advance of payment from your customers in return for a fee, or interest, to be paid to the commercial finance company. When the commercial finance company is paid by the customer, the appropriate fees are deducted and the remainder is rebated to you. “Accounts receivable financing” is also called accounts receivable factoring, factoring financial services, invoice factoring and cash flow factoring. The terms are used to convey the same meaning.

Inventory Financing

Inventory financing is a loan secured by the inventory of your business. Inventory finance enables import companies to hold more stock without cash flow strain and to generate more sales. Inventory finance is often part of a Purchase Order and Accounts Receivable Financing commercial finance package.

These three types of financing can enable an import business to increase purchasing capabilities dramatically; you can accept larger orders and grow your business exponentially. You can use your inventory to leverage your purchasing power. You can use your customer’s credit to obtain these three types of financing; and you can use the commercial finance company’s credit to obtain a letter of credit.

The concept of financing your import company with “other people’s money” is part of a safe and sound business plan. Add strong product quality controls, inventory controls, and good accounting to maximize the success of your import company.

Copyright © 2007 Gregg Financial Services

www.greggfinancialservices.com

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Why Write A Non-Fiction Book

Tuesday, March 30th, 2010

The two central pillars in effective personal marketing are the establishment of credibility and the quest for exposure. You could have a large business or you could be an independent professional. You could be selling a product or a service. Regardless why you’re marketing yourself, writing a non-fiction book is one of the best ways to achieve those two pillars.

Writing a non-fiction book is a daunting exercise. But most people don’t understand the extent to which it will change your life forever. Writing your first book happens only once in your life, if ever. And those who have done so will tell you their lives break down into before the book and after the book. Everything changes once you have written your first book.

The title of this article singles out non-fiction books and there’s a reason for that. Authors of fiction works get tremendous benefits from the effort as well but the finished product validates their writing ability and their creativity, nothing else. For the authors of non-fiction books, the finished product validates their writing ability and their personal knowledgebase. In other words, it positions them as an expert in their field. That feeds directly into effective personal marketing, which is the objective behind this discussion.

Once you have written and published your first book, you will forever more be referred to as an author. No longer will you be a regular human being like everybody else. No. From then on, you will be part of an exclusive club. You will be an author. That label will be used in written references to your name. It will be used when introductions are made. And it will be used when people talk about you behind your back.

Being an author comes with an automatic baseline of respect from most of your peers, whether they know you or not. But it comes with more than that. It comes with immediate credibility within the topic. And if you’re in a professional field, the days of justifying your expertise will come to an end. In fact, the days of looking for new clients may come to an end as well.

Books are a tremendous tool to leverage your time. The finished product presents your knowledge in a structured and optimized format. But at the time it is received by the reader, it requires no effort by you. The reader can read your book while you’re on vacation or sleeping. Indeed, you invest the time and energy once but then you reap the rewards over and over again. That allows countless perfect strangers to experience your highest intellect, all at the same time.

Writing a book also opens the door to a variety of other opportunities that might be quite different than your underlying profession. Not only can the book be sold, leaving you with a profit, but it can position you for speaking engagements in your area of expertise. These opportunities can be very profitable and position you as an industry guru rather than an actual practitioner.

Admittedly, some people would prefer not to be such a guru and that’s fine. But writing a book gives you that option. You can choose either path. You can publish the book and remain in the trenches, doing the same work as before except with tremendous new-found credibility, or you can accept the opportunities and redefine your identity around your new position.

Writing a book is a big job to say the least but it will change your life forever. Tactical Execution provides a lot of guidance aspiring authors can use to complete the job and promote the finished product. Please visit the website to take advantage of the resources available there.

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