The Real Reason Why Small Businesses Can’t Get Approved for a Loan

Oh no, not again. Yes, that’s right, I’m not going to go there… at least not for today. There’s no shortage of excuses and reasons why small businesses can’t get approved for business loans. It never fails to amaze me the coverage this topic gets especially when the national economy goes into recession or when major political races are at stake. Yes, I agree that small business growth and success is the economic back bone of the US and also, that more than 60% of the US workforce are employed by small businesses. But where I get off the group think is when it comes to the lack of financing for a small business with a business loan. In this article, let’s explore the REAL REASON that small business don’t qualify for loans and the truth may even surprise you.

It’s Deeper Than Statistics
I love numbers and even better, I love reading financial statements and the notes. The love for numbers did not become a passion for me in the world of small business lending until I came to understand that the financial statements tell the story of a business. Similar to the story behind the financial statements, there’s a story behind the statistics stating that small business owners can’t get approved for loans especially if they’re of a certain ethnic group, gender, and / or industry. I’m not completely washing away the reality that there’s a shred of discrimination in our world… hey, we live in a broken society with broken people. However, a large part of this thinking (small business owners can’t get a loan because of skin color, gender, etc) is just simply untrue. I’ve been on both sides of the fence so to speak in the world of small business lending. I’ve worked for a big bank, and I’ve worked for a not for profit community development financial institution and it’s always the same. The number one reason why small business can’t (and don’t) get approved for loans is due to the considerably large operating risk that exists in these businesses.

Operating Risk: It All Starts with You
What does operating risk mean? Well, here’s a question to bring some clarity. What speaks more to sustainability: a business that’s been operating for at least one year or a business that’s still in the owner(s) mind? I’d go with the first option. Operating risk means that you have and continue to execute on your business plan(s) and that the business is cash flow positive (i.e. returning a sustainable profit margin to cover costs and make you money). Here’s the sad truth: not many small businesses get to this point. Most if any, within two years are still trying to figure things out. OK, granted, there are levels to this particularly when you observe the diversity of businesses. However, I’m speaking to the ones that endeavor to obtain a business loan.

In closing, I offer a couple of ways to minimize your operating risk and increase your chances of getting approved for a loan. (1) Grow tough skin and learn to survive. The game of business is one of survival. Most days, things will not go your way and you just have to stay the course, be adaptable, and stay true to the business mission. (2) Never forget the 3 P’s – Production, Processes, and Personnel. Become efficient in the production of what you offer for sale, create and put in place processes to enhance production efficiency and ultimately the customer experience, and finally, hire, train, and invest in people who share your vision for the business.

Online Education Degree – A Booming Sector That Bring You To A Brighter Future

Are you kind of person who likes to work with children? Are you loves to giving training and teaching to young people? Are you a good communicator especially with children? If you answered yes to the questions above, then online education degree will help you to gain the skills and enhanced you knowledge in education field. Hence, help you to advance your career working in education fields.

The booming education and health sector offers many jobs that involve working with children and youths. According to the U.S. Bureau of Labor, the education and health sector is going to grow by 30.6 percent between now and 2014-faster than any other industries. Seeing the encouraging growth in education section, earn an online education degree will bring you to a brighter future.

In order start or advance your career in education related fields, you need to look for a related online degrees; there are many prestigious online colleges and universities offer degree in education and teaching. Among the featured online universities which offer various online education degree programs include:

  • Capella University Master of Science in Education focus on area in elementary classroom teaching, secondary classroom teaching, advanced instruction in mathematics, advanced instruction in science, teacher leadership, and virtual school teaching. Master of Science in Education with concentration in Curriculum and Instruction is a specialized master degree offers to those licensed K12 teachers who looking to gain key competencies through theoretical study and collaboration with seasoned practitioners. You will acquire tools and techniques to help your district design instructional models and assessments that focus on increasing student achievement. Master of Science in Education with concentration in Leadership in Educational Administration, offer to those K12 teachers who are looking for education career advancement in school administration.
  • Walden University Online master education degrees offered by Walden University include area in education leadership, Grades K-6 Elementary Reading & Mathematics, Grades 6-8 and K-5 mathematics which provide you with the key skills and knowledge to success in educational field.
  • University of Phoenix University of Phoenix’s education master degrees are mainly focus on education leadership and administration, education technology specialized in computer education.

If you are interested in early childhood education, then you should look for online education programs offer by Lehigh Valley College, Sullivan University, Rasmussen College, Hesser College. Since the introduction of concept “Education Start from Age 0″; the childhood education and child care management related careers are in a booming trend. Students who graduate with a childhood education degree usually go to work immediately after graduation due to high demand in this field.

If you are gaga for education, opportunities for meaningful and well-paid work abound. Some other career possibilities include: Child Psychiatrist, Children Youth and Family Counselor, Doula, Pediatric Rehabilitation Counselor, and Play Therapist.

In short, the statistics show that the education section is in the booming trend and educational experts are always in demand. Online education degrees will prepare you with the necessary skills and get you success in this highly demand job marketplace.

Special Finance Auto Leads – Understanding the Terminology of an Auto Loan

Financing can be a confusing topic for anyone. Car loans can be difficult to understand if you have never been involved in the industry. By knowing the lingo, you can help ensure that you get the right price and the best deal. Without knowing the terminology behind your auto loan, you can be taken for a ride. Here are some handy tips to maximize your buying power.

Term: This is the length of time that you will finance your car. Usually, these are delineated in months. 36-month loans and 60-month loans are very common. 72-month loans are also available, though the longer the term of your loan, the more you will shell out in interest payments.

Credit: This is a measure of your purchasing power. The term combines your credit score and history into your credit worthiness, or ability to borrow money. The better (stronger) your credit is, the more money you will be able to borrow (not always a good thing).

APR: This is the annual percentage rate of your loan. While most consumers believe that this is the actual interest rate, it is slightly different. In actuality, the APR is the interest rate multiplied by the number of periods in a single year (4). This is a handy way to determine the annual cost of interest to your loan.

DMV Fees: This applies to various fees found throughout the contract. You’ll find these consist of title and registration fees (sometimes tax is lumped in here, as well). These fees are annual fees paid to your state or county for the luxury of owning and operating a vehicle.

Down Payment: This is the amount of money that you “put down” on the car. This amount reduces the total amount financed through the lending company. The more money used as a down payment, the lower the financed price of the vehicle will be and the less you will pay in interest fees through the life of the loan.

Title: This is a document declaring that you are the legal owner of the vehicle. If you are financing your car, you will not receive the title until the vehicle is paid off. Until that point, the bank or finance company effectively owns the vehicle. If you fall behind on payments, the vehicle will be repossessed by the finance company.

Balance: This is the unpaid remainder of your auto loan. The balance is reduced with each payment, though different finance options (and interest rates) affect how quickly the balance is reduced. In many cases, paying off the balance at one time is not sufficient to pay off the loan (interest fees often apply for early loan payoff).

Sales Tax: This is the sales tax set by your state or county. Some states charge a different sales tax on the purchase of a new vehicle than on other items purchased. This amount is usually lumped into the loan payment. Knowing how much you will pay in tax can help you get a better loan; in addition, a larger down payment can reduce the amount of tax paid.

Forex Currency Trading Online

In this article I am going to outline what Forex, currency trading is, how to get started, what tools you need, how much it costs to start and where to look for training and support. Remember that Forex, currency trading is not for everyone and the points in this article should be carefully considered before trading for real money.What is Forex Currency Trading?Forex or currency trading is the buying and selling of foreign currency although this may sound tricky it is very simple and all done on the computer over the internet very quickly. Forex or currency trading is not like going down to your local travel agent and purchasing some currency and selling it back when the price changes. The trading that is done on the Forex market is on the last two decimal places of a currency or a tenth of a cent where the USD is concerned. Forex and currency trading is all done over a spread betting platform and bets are placed on fluctuation of a currency pairs last two decimal places.How to Get Started in Forex, Currency Trading.Thanks to the internet and the popularity of currency trading there is now a wealth of information available for free. Forex, currency trading is all done by the use of fundamental and technical data; it is the knowledge of such data that traders use to determine whether to buy or sell a currency. The data is interpreted on a chart and it is these charts that a potential trader must learn how to use to become successful in the currency markets. There are now plenty of spread betting platforms that offer a demo account, so you can trade with play money in a real market environment. I recommend opening one of these account first, using the charts provided to get you started. Together with the free information available on how to use the charts you should be able to get a general grasp of how the whole thing works.What Tools You NeedThe tools that you need to trade on the Forex, currency markets are simple. An internet connection and a computer and you can trade Forex from anywhere in the world 24 hours a day 6 days a week. What is more important is the spread betting platform that you use. You need a spread betting platform that has the lowest spread but can get you in and out of the trades quickly. The spread is what the spread betting company charge you for filling your trades. An example of this is; if you entered a trade at a certain price and the spread betting company had a spread of 2 pips for that currency pair then you would enter the trade 2 pips lower than originally initiated that is how the company make their money.How Much It Costs To StartIt is a misconception that you need thousands of pounds or dollars to speculate on the Forex market. Since the explosion of popularity in trading Forex currency many spread betting platform offer beginners accounts with minimum trades of as little as 0.10p a pip. If you where to stick to the recommended money management plan of only risking 5% of your trading balance on any one trade, you would only need an initial investment of £100.Where to Look for Training & SupportAs I mentioned earlier there is plenty of free information available on the internet related to Forex and currency trading. Finding valuable and useful information cannot be so easy. One of the increasingly popular methods of training for the Forex market is to join a Forex club. A Forex club is a group of people that trade together over a webinar coordinated by a professional trader. It can be as simple as watching what he does and copying. One of the biggest hurdles in trading is getting over the emotions of when to enter and exit a trade, trading in a group can achieve the confidence needed to overcome these emotions and make correct decisions in your trading. These groups normally offer training and one to one support.