As I prepare for the upcoming season, I am outfitting a new Hot Dog Truck. I have to get registered, insured, permitted and a whole host of things done to the new Hot Dog Truck. I am getting the Hot Dog Truck lettered (with the dancing hot dog from my header) and completely tuned up. You'd think I'd need some Fast Business Cash to get this done, but between money I've saved and money I am getting from selling the old Hot Dog Truck and another vehicle I own AND the money I make from this website (and others), I have very little "out of pocket" expense.
For lots of businesses, getting Fast Business Cash for expansion or a new piece of equipment can be a challenge. Businesses that accept credit cards have a great financing option. Now you can get a business loan form companies like Merit Capital Advance based on anticipated future Visa/MC receipts. The lender just automatically takes the loan payments from your credit card receipts. It's real easy to set up, and it's a great way to enhance cash flow for a large business expense.
If I ever take credit cards, I'd be signing up for this! I may have to take cards soon if I plan on doing large events, so I could finance my next Hot Dog Truck with some Fast Business Cash with Merit Capital Advance.
Fast Business Cash
Money money money money, MONEY
As a small business person and former mortgage broker, I am always thinking about money. Cash flow is important for any business, especially people in the mortgage business since cash is the end use product. People get very emotional about money most of the time and when they are dealing with mortgages in the hundreds of thousands of dollars, they can get very jacked up.
I have been reading about the recent concerns about the "sub prime" lending practices of a few years ago that many are blaming for the current increase in foreclosures. It seems many mortgage brokers engaged in outright fraud in order to get people mortgage loans for homes they couldn't possibly afford. The consumer bears some responsibility, they did sign fraudulently prepared documents that overstated income in many cases, but the originating brokers are coming under scrutiny for knowingly falsifying documents and "over selling" unwitting borrowers.
The result is many of these "sub prime" mortgage loans are in default and people are losing their homes. What happened is mortgage brokers got greedy, mortgage wholesalers fed the greed by encouraging (or not actively discouraging) shady underwriting practices and consumers bought into the whole mess with visions of endlessly escalating real estate values and continued access to low interest mortgage loans with no consequences.
Now the sub prime lenders are facing criminal charges and families are left broke and homeless. This underscores the importance of trust. When borrowing hundreds of thousands of dollars for a home, deal with someone you can trust to do the right thing. Go with established lenders and mortgage brokers when shopping for mortgage loans and don't sign any document that has falsified information. If a broker or lender gives you documents with falsified information, RUN (don't walk) AWAY as fast as you can!
Getting on Track in 2008
2008 looks to be a good year for the hotdogman. Even though there was some upheaval with the Hot Dog Truck, it will probably work out for the best. As I said in my previous post, a new truck is in the works. I won't have to get a loan to buy it either!
2008 is the year of paying down debt and paying with cash. No more secured loans for me! Even though they're helpful in some cases, I'm paying cash.
We're also going to get rid of our credit cards this year. We'll keep one, for renting cars and buying plane tickets. When we compare credit cards in 2008, we'll be deciding which ones to shred!
2008 looks to be a tough year financially for the US economy, we're not going to let it get us down. After all, people still gotta eat!
Fast Business Cash
As a small businessman, I ALWAYS need cash. Whether it's for a new piece of equipment, supplies, advertising or just a "cushion," sometimes cash flow isn't there and it needs a boost. Getting Fast Business Cash isn't always easy. There are a lot of options-like equipment leasing-but if cash is what I need, it can be challenging.
There's a new way to get Fast Business Cash that is growing in popularity. It's based on credit card receipts. Basically, you borrow money and the lender gets paid by deducting a portion of the debt directly from your daily credit card processing receipts. It's all done electronically, so there's no bill payment notices or any late fees to worry about.
Merit Capital Advance offers this type of Fast Business Cash loan. They can usually have cash in your hands in 24-48 hours.
You've got to love this: you borrow money based on money you'll be paid by customers who are borrowing money to pay for your goods or services. What a Country!
Online Loans Portal
I am convinced Americans are obsessed with debt. Our own government spends almost $1.5 BILLION more than it has every day! The national debt is somewhere around $9,203,778,253,800 or $30,270 for every man, woman and child in the US. It's no wonder many people are knee deep in debt, our own government legitimizes it!
The simple fact is nobody can continue to live in a constant state of debilitating debt forever. The walls WILL come tumbling down eventually. The reality is that our economy is structured around debt. Whether it's a mortgage, car loan, personal loan or credit cards, Americans use credit daily.
Online Loans have proliferated this century. The smart thing for any conscientious consumer to do is to find a way to get their debts under control so they can be eliminated. Why pay 18% interest on a credit card-that money is better off in your pocket.
Finding ways to manage debt can be tricky. Sometimes a debt consolidation loan is the best way to go. Lowering monthly payments allows you to pay your debts down faster and keep more cash for yourself every month.
Online Loans is a site billed as a "loan and finance portal." They provide good information on the pluses and minuses of different kinds of financing and strategies for lowering and eliminating debt. There are also comparisons between lenders to help consumers choose the best financing and/or debt consolidation options available to them. They also explain some of the inner workings of lenders and credit card issuers so consumers can have a better understanding of what is going on with the financing products they may choose. Finally, there are numerous articles that give strategies for reducing and eliminating debt.
Once you have a clear idea of your objectives, you can move on to selecting an appropriate financing product for your needs.
Until people learn to manage debt wisely, or eliminate it all together, our entire economic society will constantly be living on the edge. People who send their money to finance companies instead of investing in their future will not be able to save for retirement. This will leave a large segment of the population either indigent or reliant on government supplements (and who is to say the government will be solvent in the future).
So make the commitment to yourself and to your family to get your debts under control this year. Start living within your means and stop using debt as a vicious circle of dependence. Go to Online Loans and learn about your options, THEN TAKE ACTION!
No Christmas Payback
Christmas season is over and most folks are simply counting the days until they stop writing "2007" on their checks. The post holiday sales are winding down, decorations are coming down and there is no more Christmas music EVERYWHERE you go.
Now it's time to pay. People will be getting their statements for their credit cards in a week or two and ALL those shopping season charges will come home to roost. That's when the post holiday blues set in.
This season I was virtually done with my Christmas shopping BEFORE Thanksgiving. I did a good chunk of my shopping online and I used my PayPal DEBIT account. When I did venture out to an actual store, I used CASH. NO CREDIT CARDS. It was a very unstressful and enjoyable Christmas for us this year and it will be even better when we aren't out shopping for personal loans in February to pay off our credit cards!
Credit Crunch
I pulled my credit report the other day in anticipation of getting approved for a lease and found out a funny thing. I have NO CREDIT. I don't owe on anything; I have no car loans, credit cards or personal loans-just my mortgage.
Not owing a lot of money is a bad thing in the eyes of the credit bureaus. Because I have no revolving debt, I am considered a bad credit risk and I'd only be eligible for bad credit personal loans. You'd think NOT owing money would be a good thing, but I am considered a bad credit borrower because I have no credit currently. What a country!
There are still plenty of loans out there for folks with bad credit. The problem with bad credit personal loans is the rate is usually much higher and the terms are usually unfavorable to the borrower. The problem is, for folks in this situation taking out a bad credit personal loan to get out of debt often compounds the problem.
I gave up on credit cards a long time ago-the rates just kept going up. I finally gave up on them all together. It's a good thing I have some cash stashed away to expand my business, otherwise I might be forced to take out a bad credit personal loan to get the ball rolling.
I think it's good that folks with no credit or bad credit have a place to turn, they just need to be careful not to get in over their heads. Borrowing to get out of debt is dicey unless doing so will lower the total dollar amounts of their "nut."
Cash Advance on Credit
As I wind down the season at the Hot Dog Truck, I am thinking of the future. I would like to expand my business-either by getting another Hot Dog Truck that is a better "runner" so I can do events or by getting an actual physical location. There are a lot of ways to expand a business and lots of options available to me.
The first (and my favorite) is to expand with cash on hand. No borrowing means no bills to pay. Unfortunately, I might not have enough cash to expand. That means borrowing. If I come across a good opportunity, I may need fast business cash.
One way to get fast business cash for expansion is to borrow against my future Visa® and MasterCard© sales. I can get cash NOW and repay when my customers pay for their hot dogs with Visa® or MasterCard©. Of course I'll need to accept credit cards first, but I have a cousin in that business and she could get me hooked up quickly.
Whatever direction I go regarding expanding the Hot Dog truck business, I am sure I'll need some fast business cash at some point.
Loan Blight
Finding money to borrow is getting harder and harder. For the past few years, people took out mortgages on their homes like crazy to finance construction of home additions, second home purchases, vehicles, and debt consolidation. Now that the mortgage market is drying up, folks are either turning to unsecured loans or forgetting about borrowing at all.
Many of the construction guys who frequent the Hot Dog Truck are seeing a big slowdown in their business since nobody is spending money like they were a few years ago and they're unwilling to take out loans.
If this continues, the economy is going to go into the crapper until more money is made available to lend. Borrowing money is good when it's inexpensive to do so, but if interest rates are high or there is poor liquidity in the market, it becomes counterproductive.
People who take out mortgages to finance consumer debt are being shut out too. They have no recourse to pay down ridiculously high interest rates on credit cards and tighten their belts or go into default.
Borrowing what you can't pay back leads to trouble and the mortgage industry's loose standards over the past few years have created a situation where defaults are common and loans are scarce.
If people don't spend, we could all be in trouble.
Financing A Business
The recent hassles with my current location have forced me to look into alternative sites. While I have been looking at alternatives, several new opportunities have surfaced and I am considering all of them. I could end up with multiple sites for Hot Dog Trucks AND a brick and mortar restaurant. If I go the multiple location route, I'll need a Business Loan to fund expansion.
I have a few months over the winter to wrap up the locations for Hot Dog Trucks, but I'll need to move quickly on the brick and mortar restaurant. The location I'm scouting is turn key and I'll need to move fast if it becomes available since there are three or four others interested in it. Working with a lender who offers a Business Loan with Easy Processing,Fast Funding and Great Service will be important.
If all falls into place, I'll need a new hot dog truck or trailer, a hot dog cart and some money for inventory on the restaurant. I've got SOME cash lying around, but I'll most likely be looking into EZUnsecured.com for my Business Loan needs.
Need a new car?
Get an online car loan BEFORE you go shopping so you'll know exactly what you have to spend. If you have bad credit, don't just jump on the first Bad Credit Car Loan the dealer throws at you. It's better to have your financing wrapped up BEFORE you sit at the desk with your friendly and helpful used car salesman. Otherwise they'll steer you to their product which MAY mean they'll need to tack on a warranty that you don't need in order to qualify for the "house" Bad Credit Car Loan. It's a fairly common practice in the used car financing game.
BasicCarLoans.com has great rates for folks with bad credit. You can walk onto the car lot and not have to worry about the dealer blowing you out the door or sticking you with a crummy loan or a crummy car or BOTH. Unless you're going for some 0% financing deal, have financing in place and if you want, you can see if the dealer will give you a better deal. Then you can get the car you want NOW.
New Location Options
As you know, I need to scout a new location for the spring. One option I'm considering is an actual physical location. I'd need working capital to get that sort of thing going I'd need special Restaurant Financing. There's a great company called Advance Restaurant Finance that offers easy documentation loans for restaurateurs who wish grow their business.
I'll be sending them an email to buy one of these!
New Location with an Unsecured Business Loan
I'll be needing a new location for the Hot Dog Truck next spring. In fact, I'll most likely need a new truck. I could use available cash or I could get an Unsecured Business Loan to buy a new truck. Another option is to get a storefront location. Either way, I'll need money to get things rolling.
EZUnsecured.com is a lender I've been scouting in case I need to get some cash fast. They offer great service, easy process and, most importantly, FAST FUNDING. With a 680 FICO Score, they can get money to a borrower quickly and at very competitive rates.
Being able to move quickly when there is a business opportunity is tantamount to being successful. Like the old saying goes, "he who hesitates is lost."
Where Credit is Due
If you need a new mortgage and you have Bad Credit, you could be royally screwed in today's market. Sub Prime or Bad Credit Mortgages are becoming increasingly more difficult to obtain due to the record number of foreclosures that have forced some lenders out of business.
There is still a place where people with Bad Credit can get a mortgage, a credit card or a car loan. BadCreditOffers.com has lists of lenders who will lend money to people with Bad Credit. You can compare offers side by side and see which lender has the best deal.
Beware the Bad Credit loan. Oftentimes the terms can be so poor, the new loan will just send you further into the red. If you can get a loan you can afford, it can be a great way to repair your credit. Just make sure you pay your bills!
Get Loaned
A reverse mortgage is a good thing for folks on a limited income who own their home outright. You basically tap your home's equity for monthly cash.
You need to be over 62 years for a reverse mortgage and there are some other guidelines as well.
Check out GetLoaned.com for more info.
Early Pay Day
The cash advance industry is alive and well on the internet. These types of loans, sometimes called payday loans, require no credit check and require that the borrower has a job and earns $1000 per month or more. Folks use these loans to keep their checkbooks balanced during financial shortcomings, to fix their car or any number of minor fiscal crisis's.
Pay back terms on these loans are usually between a few days to a month. Payday loans can be a good way to bridge a short term money shortage, especially if you're expecting a nice sized paycheck shortly.
The "dark side" of a cash advance or payday loan is that interest rates can be very high. I've seen advertised rates as high as 95% on some of these loans! Even the local loanshark doesn't charge THAT MUCH! If you are considering a payday loan, make sure you read the FINE PRINT.
All A Loan
Regular readers know I used to broker Mortgages. I know a little bit about the subject. I know about money too. (I know I never seem to have enough!)
Personal loans are another form of borrowing. Basically a lender loans you money if you: a. have enough in the bank to pay them back or b. have really good credit. There are a lot of Personal loan companies that have really loose terms and high rates. You need to be careful with many of these loans or you could end up paying a prohibitively expensive interest rate.
Sometimes it's better to go with a secured loan to get a lower rate. Just be sure you can afford to make the loan payments so whatever you are offering for security isn't put at risk.
Whether you are looking for a secured loan, a personal loan or a Mortgage, be sure you understand the risk, rates and payments. You should never "sign on the dotted line" unless you understand what you are paying for the money you're borrowing!
Making ends meet
At the end of every month there is a scramble to pay the mortgage, insurance, and all the other bills. I'd like to be able to get the best car insurance rates and one of those cheap mortgages so I could save a few extra bucks!
Most of us are one or two "bad months" away from fiscal crisis. When something goes wrong with a job or a business, it is easy to fall behind on bills. And you can't keep getting loans to get back on track.
It's a good idea to have at least 6 months living expenses socked away for a rainy day in case bad luck befalls you. I have found the "passive income" from my blog to be a nice little cushion each month against potential financial setbacks.
