The Truth About Business Loans and Merchant Cash Advances

In the previous part-2 of this multi-part article series we discussed the attributes of bank funding for small businesses. Now we will expose a few characteristics of private funding.

One great quality of private funding is that it is available when other sources are not. There are a few private funding sources that I’ll touch on, some informal and others more professional. Let’s start with the obvious your family and friends. Your inner circle is the most informal funding source. You won’t need to fill out applications nor provide income statements and tax returns, and you probably won’t be charged any interest, or at least a low rate, which of course is great.

In reality though, most of our family and friends won’t have the amount you would need to remodel your store or to purchase new inventory for the holiday season. Even if they did most family & friend loans end up a mess. Informal accounting between the parties is usually where it all unravels. Someone gets accused of mishandling funds, and then it all spirals down from there. Many relationships are severely and permanently damaged because money. It’s just not worth it.

Private Crowd Funding:

One of the latest resources that recently emerged is known as crowd funding. Typically used by start-up companies because a long track record of your experience or credit history is usually not required. Crowd funding is a method of financing where you, the business owner must create a marketing campaign that may include flyers, brochures, videos or any other advertising materials to convince or sell your idea to online investors (donors) who will give you donations for your business goal.

If you are a great salesperson or you have strong marketing background this method is for you. However even you don’t, there are crowdfunding experts you can hire to produce your campaign for fee. The fees for this service will vary.

Again this sounds good, however one drawback is that if you don’t raise the amount you are requesting, let’s say $50,000 to update the kitchen in your restaurant, by coming up short at $49,000, you will not receive any of the funds, in some cases. Check with a few crowd funding sources to find out their guidelines.

Another disadvantage and probably the most potentially detrimental is that you and your business are completely exposed with total transparency. Your business plan and financial statements are literally open to thousands of people (donors) online. Most crowding funding platforms accept donations as low as $5-$25. Being this affordable, your sensitive information could be exposed to people with bad intentions. Again check the guidelines of the particular crowd funding source.

Furthermore, with crowd fundraising you give away a percentage of ownership of your business. This would not be so bad, as long as you were gaining an experienced investor to help guide you like “Shark Tank” ABC’s hit show.

Very few crowd funding offer experience, if any at all, that’s why I highly recommend this business resource because of it’s reputation and it offers multiple sources of education, idea conception, and financial backing all by experienced entrepreneurs. In fact, one of the founding members is a former “Shark Tank” guru. If you need assistance from beginning to your “Grand Opening,” the contact info will be at the end of this section.

Accounting and Finance Career Preparation Programs

A love of numbers can lead to a lucrative career in various fields. Students that have an interest in numbers may find an accounting program is right for them. Accredited programs can be pursued through several degree and concentration areas.

Completing a degree program in accounting prepares students to step into various careers that involve accounting and finance. Students learn to work with businesses, organizations, individuals, and government groups on their finances. Accounting programs are available to students at the associate’s, bachelor’s, master’s, and doctorate’s degree level. Student’s career goals will determine which degree program to complete. Other possible accounting and finance career preparation programs can include:

Accounting Technology
Corporate Financing
Finance and Banking
Several concentration areas like accounting technology, for example, lead to an associate’s degree. Students that want to complete a higher level degree program can continue education inside a graduate accounting program. Corporate finance also awards undergraduate degrees unless students advance their training inside a finance degree program. To complete the right program students should research the industry’s requirements for the careers they are interested in obtaining.

An associate’s degree in accounting examines several key areas of the field at a fundamental level. Accounting, finance, and acquisitions are some main areas covered. The goal of a program is to prepare students to analyze the financial status of a person or group and be able to create documents. Students learn the Generally Accepted Accounting Principles procedures, which helps the transition into the profession. Students can enter careers as general accountants, budget analysts, and loan officers.

To gain the best career options in accounting and finance students should complete graduate degree training. Schooling covers the foundations of accounting more in-depth. Students study risk management, assurance, financial management, taxation, and much more. Master’s degree programs train students to understand business and taxation. Through subjects like advanced auditing, corporate taxation, and financial research students are able to step into multiple careers. Students can enter careers in both the private and government divisions of the industry with a master’s degree. Students that want to enter positions as professors typically complete training at the doctoral level. Tax research and finance analysis are some course topics examined. Possible career options for students that have a graduate degree include risk assessors, corporate executives, financial managers, and auditors.

Students that pursue another area of accounting and finance such as corporate finance will find education to be highly focused. Students that complete a bachelor’s degree program will explore financial reporting, international market, and personal investments. Students learn to work with businesses by providing help with cost management, investment, and market regulation. Upon graduation students can become investment bankers, fraud investigators, stockbrokers, and more. Advanced careers will have to be pursued with a graduate degree in finance.

Accredited accounting and finance degree programs give students several career opportunities. Students can enter their desired careers when education is matched correctly with their professional goals. Full accreditation is awarded to quality programs by agencies like the Accrediting Council for Independent Colleges and Schools ( ). Enroll in a college or university to begin the educational training required to enter this career field.

Car Title Loans Can Finance Your Kid’s Summer Camps

Summer is around the corner and it’s time to make plans for the children while you’re at work. Summer camps are a fun and educational way for them to spend the summer instead of sitting in from of the television or computer and playing video games. But, summer camps can be very expensive, whether you choose to do a day camp or a sleep-away camp.

You may need to get the funds together quickly in order to sign them up in time before the camps are booked. You use your credit card for other types of expenses so you don’t want to tie up the balance available and there’s not enough in the checking account to just write a check. Where are you going to get the money? Consider title loans as a solution to the summer camp dilemma.

It only takes a few minutes to apply and you will get an answer very quickly. You could have the cash in hand with in 24-48 hours. The lender will pull a credit report, but your credit score will not determine you eligibility for the loan, since you use your car as collateral in order to secure the loan.

Once you are approved, you get a predetermined percentage of the value of the car or less. But loans in states like Arizona are for a minimum of $1500. So, find out how much the summer camps cost before you apply. The interest rates are lower than unsecured loans and the repayment terms are more flexible.

You also, get to keep the car while you are paying on the loan. But remember to make all of your payments on time by following the terms of the loan closely. This way you will not run the risk of losing your car to the dealer. A lender can repossess your vehicle if your account becomes delinquent.

If you decide to use an title loan to send you children to summer camp, why not take out enough for you and mom to enjoy a little vacation of your own. If they are at sleep-away camp, plan a weekend getaway or, if they are just going to day camp, you can take a day off from work and treat your self to a day at the spa. You might as well take advantage of the time and the loan.

Getting the money to send the children to summer camp is well worth it-for you and for them. Summer camp is a great way for children to build a few very important skills, gain self-confidence, and strengthen as individuals. The children will also have some memories of a lifetime and hopefully will make some life-long friends. Sure, you’ll miss them and they’ll miss you, but summer camp is a great opportunity for your children to learn how to meet new people, work together as a team and how to accomplish tasks.