fundmebro-blog

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How to Get Small Business Start-Up Loans Your Fast, Easy, Guide to Start-Up Funding A Quick Review of Your Best Options for Small Business Working Capital A huge challenge entrepreneurs face today is funding capital to start-up their business. Today's business has gone past the days when creativity and out-of-the-box thinking were major factors in determining the success of your start up. Over time, small businesses have been a key driving force for the economy. However, getting access to small business funding could be very hard and frustrating. A major cause for this is the problem of sourcing for funds from the wrong places. How do you source for funding your small business start-up? Unfortunately far too many start up entrepreneurs have to dig into their own pockets and family savings  to help jump start their new businesses. The passion and commitment for their new business venture quite often clouds their best judgement  when spending all of their life's savings on what may or may not be a viable idea. If you have ever watched the hit T.V show "Shark Tank" you will know what I am talking about. Unfortunately, many  of the shows would be entrepreneurs have gone on the show only to have "Mr Wonderful"  Kevin O'Leary have to explain to them the facts of life about the flaws in their strategy and / or the foolishness of their ways. Taking money from friends and family members has another drawback. If your business doesn't work out and you need to fold up shop, you still have to live with and face your family and friends for the rest of your life. Just imagine owing your mother-in-law for the rest of your life! Ouch!@%$^&*!   Just Kidding. Small Business Loans for Start-Up Capital The Small Business Administration (SBA)  is your best option when you do not have an ideal source of financing for your small business. The Small Business Administration (SBA) is an idea source of funding for small businesses as it has a special program which offers intending entrepreneurs micro loans up to $50,000. They are also great because they are usually associated with business training which will be especially helpful for you as a first time entrepreneur. There is a big misconception that SBA loan programs involve government grants, no-interest loans or free money. The fact is that SBA does not even make loans or lend funds directly to entrepreneurs. In order to get a SBA loan you will need to get a relationship with a loan officer at your local bank or credit union. Some loans are also provided through nonprofit financial intermediaries. Here are the SBA's three most popular loan programs: 7(a) Loan Program - As a small business owner (see SBA's definition of "small business" here), you can get up to $750,000 from your local lender, that is backed by a guarantee from the SBA. So the SBA does not actually lend out the money. They just make it less risky for a bank to lend you the money by assuming some of the risk. These loans are typically used for working capital, leasehold improvements, and asset purchases. All owners of a business with 20% or more of ownership are required to personally guarantee any loan they receive. There are several variations to the 7(a) program including a "Lowdoc" version. The "Lowdoc" loan application is just a one page form that the borrower fills out on one side and the lender's request to the SBA is on the other side. Typical response time from the SBA on a "Lowdoc" request can be as short as 36 hours. The eligibility for a SBA 7(a) program is the broadest of all of their programs but like anything with the government, it involves a lot of red tape and hoops to jump threw. If you would like to apply for a SBA loan or to just see if your business would be eligible click here. The 504 Loan Program is used for those small businesses intending to supply funds for asset purchases like equipment or land. Again you will need to go through your local bank to apply for the loan. When funded the SBA will guarantee up to 40% of the asset value with usually a max loan of one million. The borrower will still need to kick in 10% towards the equity. Eligibility for the 504 loan program like the 7(a) program is limited to small businesses with less than $7 million in assets and less than 2,.5 million in net income. The 504 loan program can be use in a number of ways including inventory, repaying debts, working capital or refinancing. Not to worry - the bank will still require your personal guarantee for the loan. SBA Microloans The third category of loan that the SBA offers is a "microloan". These are smaller loans going up to $50,000. personnal loan,small business loan, bank loanThese loans can be used for:    Needed working capital    fixtures or furniture    Equipment or new machinery    Supplies or inventory Unfortunately what you cannot do with a SBA microloan is to purchase real estate, or pay off any debts that you might have. Interest rates vary but maximum length of the term for the loan is six years. As with the other SBA loans, SBA does not issue the loans. You will need to go to your local bank for an application. Each lender has it's  own lending and credit requirements so shop around for the best options. For a list of intermediary microloan lenders click here. Don't Buy - Lease your Equipment Small businesses in some industries would need equipment to start-up their business. One great way to achieve this is by leasing equipment from a finance company. Equipment leases from finance companies are usually structured in such a way that the company buys equipment, and then rents it back to you for a monthly rental fee. When the lease term has ended, you would have an opportunity to buy the equipment from the finance company for a modest price Leasing equipment can have several advantages including:real estate funding, investor funding, real estate investor loans    lower monthly payments than with a loan    with leasing you get a fixed finance rate    there are tax advantages with leasing (consult your tax advisor)    lean start-ups can conserve capital vrs. a large down payment    you get instant access to the newest technology and business tools Leasing is not without its downsides however so weigh your pros and cons carefully. Read your lease agreement carefully. Understand your interest rate, terms of the lease etc. before signing. Here is the DEAL: Alternative Sources for Funding: If SBA funding doesn't work for you and your local traditional bank says no to your funding requests ( 50 - 70% of bank applicants get turned down)... ... then try the various companies that offer personal loans. A personal loan can help small businesses in a variety of ways including:    purchasing equipment    paying down credit card debt    cover unexpected expenses    easy and simple online application    Loans are unsecured and not tied to an asset    Fast funding - usually in 5 to 15 business days. Some of these companies include - Best if you have Little or No Credit History = Upstart Best Peer-to-Peer Lending = Lending Club Best for Low Fees = Sofi Best for start-up funding, lines of credit or Real Estate Investor Loans go to  Fund Me Bro Fund Me Bro provides loans for Real Estate, Transportation, Restaurants, Contractors and E Commerce. They offer business and personal  lines of credit from $50,000 to $200,000. This is Crazy:small business lines of credit, small business funding, sba funding, sba loans Fund Me Bro's lines of credit offer 0% interest for the first 6 - 24 months and then just 13.99% thereafter. Fund Me Bro's second type of loan is a Term, Bridge, or Equipment loan... ...with a 2 - 7 year term @ 6 - 24% fixed APR depending on your credit score and other factors. Fund me Bro's application process is just as easy, fast and simple. They only require that the borrower to have 680 credit score or better and no more than two lates over the past two years. If you have those two basic requirments you will probably qualify for a loan. After that it is just your contact info  (name, phone, e mail, last four digits of SS#, etc.) Fund Me Bro even has the borrower pull their own credit report. @ www.creditchecktotal.com so that it is a "soft" pull that doesn't register as an inquiry on their credit report . From there simply give Fund Me Bro your password and username to check you credit report... ... and if everything checks out you are good to get funded. They could not make it any easier! To contact Fund Me Bro for your funding CALL NOW @ 201-535-5584 If you need funding to get your start-up business up and running, or if you are a real estate investor looking for a line of credit to have ready for your next fix and flip project, business capital, sba loans,sba micro loan, small business fundingThen call Fund Me Bro TODAY @ 201-535-5584, to see how much funding  you  qualify for. There is no obligation so: Call NOW 201-535-5584 www.fundmebro.com

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Easy Tips For Raising Real Estate Investor Capital Your "How To" 2017 Checklist for Getting Real Estate Investor Funding Fast How do you get funding fast for your real estate investor deals without having to pay points, or high interest rates  from hard money lenders? I have been investing in real estate for almost 20 years. Over the course of my investing career I have had to borrow from hard money lenders, banks, and even tapping out my family and friends. If you are buying a run down house to fix up and re-sell then you only need a short term loan. We all know that the banks are of no help since the term of the loan is too short. The run down property won't pass city inspection "as is" so the loan would be uncollateralized... ... by the time you pay points and high interest from a hard money lender, they have pretty much taken most of the "meat" out of the deal. You just end up working to make the lender a whole lot of money and not much left for yourself or your company. So you might be wondering: There has to be a better, fairer way to get a small business start-up loan, or a line of credit to help fund your real estate investing business. That's why I wanted to tell you about an exciting new way to get your deals funded. Let's face it. Times have changed since the crash of 2007. We can't just keep doing business as usual, or guess what? You will get the same old tired results. The market has tightened and housing inventory is LOW. Before we go any further, Let's discuss what is not working: Hard Money Lending's Dirty Little Secret Do you still think paying those sky high interest rates and massive points for hard money is going to work for you in this sellers market? Really? The dirty little secret behind the hard money lenders is that they secretly want to see you FAIL. real estate business funding, real estate line of credit, small business creditWhen you fail, they WIN! They charge those outrageous fees, hoping that you fail, so that they can pick up YOUR DEAL on the cheap. Plain and simple... But there is a better way. Here is the DEAL: I have found a great new company that provides start-up capital, small business loans, lines of credit and YES - Real Estate Investor Loans!' The name of this company is "Fund Me Bro". Fund Me Bro is the cool, easy, no doc, no hassle way to fund your next real estate fix & flip project. It Gets Better:straup funding, business loans,real estate loans Why are you still paying points? That is so yesterday. Fund Me Bro offers a line of credit with ZERO interest for the first 12 months. You only pay back 2% of the principal loan value per month, that is then deducted against the outstanding loan principal. Want to Know the Best Part? Unlike hard money lenders who are looking to steal your deal, (do you think they really care about YOUR business?) Fund Me Bro offers twelve months FREE business credit consulting to help increase your business credit and GROW your business. What's the Bottom Line? Just so that I don't waste your time: Fund Me Bro requires you to have a 680 minimum credit score and no more than two late's in a two year period on your credit score. That's it! No docs, no hassles. Fund Me Bro offers these types of funding:        (terms subject to change at anytime)    Business and personal line of credit - funding 25k - 200k, 0% first 6 - 24 months and 13.99 % there after.    Term, Bridge and Equipment Loans - funding up to 100k, 2-7 year term. 6 - 24% fixed APR. Fund Me Bro will fund any type of business. These are our TOP 5 Industries that we typically fund.    Real Estate Investor Loans    Transportation Companies    Restaurants    Contractors    E - Commerce Submit your application today! All we need from the borrower is your contact information, ( name, phone #, e mail etc) Your login (user name & password) to www.creditchecktotal.com account so that we can view your credit report. And the last four digits of your SS# needed to access your credit report. When you submit your application... ...our loan specialists will get back to you within 24 to 48 hours to let you know how much you qualify for. So what are you waiting for? Call Fund Me Bro NOW! @ 201-535-5584 to get your funding. Sign up for our free  e-book "Guide to Building Smart Business Credit" @ www.fundmebro.com Fund Me Bro will be waiting for your call so CALL NOW! 201-535-5584.

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Are You Losing Your Momentum?

Are You Losing Your Momentum?

Webster’s Dictionary partially describes momentum as: “Strength or force gained by motion or by a series of events.”

Not too long ago President Trump addressed the Boy Scouts National Jamboree in West Virginia in which he gave an inspirational, motivational speech to the Boy Scouts.

Despite all of the attacks by the hate filled “anything about Trump” mainstream media, President Trump offered up some nuggets of wisdom…

…to the Boy Scouts and to anyone else who has an open mind and a willingness to listen.

In that speech, President Trump recalled a story about a time he attended an “A” list New York City party that included all of the Hollywood glitterati.

Instead of mingling with the glamorous celebrities, President Trump recalled that he noticed an old man sitting all by himself in a corner.

President Trump immediately recognized this “old man” as the once famous building developer Mr. Levitt.

Mr. William Levitt, known as the king of suburbia, had whole towns named after him including Levittown on Long Island, N.Y.

President Trump went on to explain how Mr. Levitt amassed a fortune building housing projects all over the New York / Long Island area.

President Trump then told the Boy Scouts how Mr. Levitt sold his company to a conglomerate for a tremendous amount of money even for that time period.

Mr. Levitt then proceeded to travel the world spending his windfall fortune.

Unfortunately for Mr. Levitt, like most driven entrepreneurs, he became disenchanted with the static lifestyle of retirement and wanted to go back to what he loved – building houses.

Long story short – Mr. Levitt went back to building houses but in the end Mr. Levitt failed terribly and lost everything that he had, and eventually had to declare bankruptcy.

Getting back to the “A” list cocktail party that Mr. Trump was attending, he asked Mr. Levitt, what happened?

Mr. Levitt simply replied: “I lost my momentum.”

At one point Mr. Levitt’s business was on fire and he was “king of the hill”.

After retiring and a long absence from the real estate market Mr. Levitt just could not get his magic back.

He had lost the momentum.

Have you lost your momentum?

Is your career or business slowing down.

Do you have debt that is dragging you down and keeping you from moving forward as fast as you should be?

When you feel that your momentum is fading, take a recess and reevaluate the situation.

Has the market changed?

Has the economy changed?

Have you changed?

Have your goals, dreams and aspirations changed?

Just remember that when you have momentum…

“each success will create another success”.

Think Sir Issac Newton’s 1st Law of Motion “The Law of Inertia”,

“An object in motion continues in motion with the same speed and in the same direction unless acted upon by an unbalanced force.”

This means that once you have your mojo-motion working for you don’t want to slack up but instead keep feeding the fire and greasing the wheels to keep your business running at full speed.

President Trump went on to tell the Boy Scouts, “Never quit, never give up and do something you love.”

When you do something that you love you don’t think of it as work.

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Getting Referrals for Your Small Business

     With all of the current hoopla and marketing attention being given to social marketing, it is easy to overlook the good old fashioned way with word of mouth marketing.

Or to be more politically correct referral marketing.

   As small business owners, with small marketing budgets, word of mouth or referral marketing can be the most cost-efficient way to bring in new business. They can sometimes produce the best customers because a recommendation from a satisfied customer provides credibility and reduces doubt in a future customers mind. But you shouldn't consider word of mouth marketing as a passive endeavor. Always look for ways to plant the seed of a referral in your customers mind. It could be as simple as "If you were satisfied with my services would you please recommend me to your friends." Now how hard is that? Customers who enjoy your products want to help promote your products or services and inform their friends. They see themselves as a helper and someone in the know.    The best time to ask for a referral is anytime. Duh! All kidding aside the best time to ask is after you have delivered your product or service and you have exceeded the value they were expecting. Make a follow up call to check on their level satisfaction and then ask the question.    No need to stop with just your customers. Use the 3 foot rule. Ask anyone you meet that comes within 3 feet! This could include family, friends, suppliers, vendors or other people you come in contact with through the course of your normal day.    If you take the time to teach people about your products and services and sincerely try to solve peoples problems and help them with their needs, they will gladly reciprocate in kind with a referral to their friends. Who knows. With a little practice, you might even turn them into "Raving Fans".        

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