Benefits of an SBA 7a Loan

Business owners that are considering an SBA 7a loan will enjoy numerous advantages when compared to conventional bank financing.

Higher Leverage - SBA loans typically have down payments that are usually only 10% of the entire project costs. This can greatly lower your overall cash out-of-pocket. Conventional mortgages often have down payments of 20% or more. Conventional mortgages often do not finance the loan costs, where an SBA-guaranteed loan includes the 3rd party costs (appraisal, title, processing, etc.) within the loan.

Longer Terms- 25 year amortization with fixed periods ranging from 3, 5, 7, 10 years and sometimes 25 years is available. Conventional mortgages often have maximum amortization schedules of 15 to 20 years which can make cash flow tight during slow periods. In addition fixed periods rarely exceed 5 years.

No Early Balloon Payment- SBA guaranteed loans are fully-amortizing, meaning that the pays off by the end the amortization period. So the borrower does not have to refinance their loan because of a balloon. Also no payable on demand clause, like most conventional mortgages have.

Below Market Prepayment Penalty- If the term is less than 15 years the borrower does not have a prepay. If the term is more than 15 years than it is a year 3 year prepay, compared to most that are over 5 years. In addition the borrower is allowed to pay up to 25% of the balance without incurring the prepayment penalty. The prepayment penalty is calculated on the amount that is in excess of 25% of the balance, and is 5% in the 1st year, 3% in the second year, and 1% in the third year. Compared to the typical 5% for 5 years or the 5% step down. So, the borrower could actually pay off the entire SBA loan in 3 years and would not have to pay the prepayment penalty.

No Ongoing Debt Service Requirements - Traditional banks often want to monitor a borrowers business financials on a monthly or quarterly basis (after loan closes) to make sure that the businesses cash flows are still sufficient to meet the minimum debt coverage ratios. If the business net income, does not fit the required ratio the bank normally holds the right to call the borrowers loan (Evan if the borrower is current). This monthly monitoring is not normally required on SBA loans.

If a Construction Loan, it's a One-time Close - Meaning that the borrower will only have to close one loan. In contrast, most construction loans are set up as 2 loans - first is the construction piece, than the borrower would need to secure a second loan (take out) to refinance the first. The borrower would normally be required to pay for a second set of 3rd party fees, etc. Without a second closing, the borrower begins the amortization schedule (repayment) after construction is completed. You only have to sign one set of documents, work with only one lender, and attend only one loan closing.

Jeff Rauth is President of Commercial Finance Advisors, Inc out of Birmingham, Michigan. He specializes in Commercial Real Estate Loans between $400,000 - $5,000,000. Offers unique loan programs such as Commercial Second Mortgages, Commercial 30 Year Fixed and 90% non SBA financing, Commercial Equity Lines. 248 885-8797 or at or commercial real estate loans and commercial loan brokers

When it comes to filing bankruptcy, you no doubt have many bankruptcy questions you need answered before getting started. Hopefully these tips will get you on the right track to getting the right settlement for you.

Get Secured With Unsecured Medical Loans

One of the most expensive requirements in life is a medical treatment. Unfortunately, not all people do have a health insurance, and if they have, their insurance might have an insufficient coverage for all the patient's medical needs. Now, more and more medical institutions are offering medical loans to people who cannot pay for a medical treatment on their own. These loans maybe cash advance, particularly for the purpose of the treatment. Medical loans are normally unsecured loans. Unsecured medical loans are the opposite of secured medical loans. In here, there is no collateral needed and since the lenders which are usually banks take a high risk the interest rate could be higher. They usually do a checking first on the borrower's credit worthiness before a loan can be given. Medical loans are given to the applicant based on his credit record and income capacity. The good thing about this kind of loan is that you get the medical treatment you needed without worrying where to get that extra cash to pay for the procedure. Easy repayment schemes are offered to the borrowers unlike charging your medical bills on the credit card which usually has a very high interest.

People applying for medical loans come from all walks of life. It is the same reason why medical treatments and procedures have become a big part of the growing industry. Lots of loan companies come up with different loan programs that would help people undergo the procedure they wanted. People do have different purposes for seeking a medical loan; it's, either they needed an operation that would save their health or just simply answer to the call of vanity. Some companies are now offering medical loans for elective surgeries like a tummy tuck eyelid surgery, liposuction and any other procedures that may bring confidence and satisfaction to a person.

Nevertheless, how and where can you get a medical loan? There are lots of places where you can find companies or institutions offering them. You may try to research on the Internet so you can have an idea where is the place to get one. Alternatively, try to contact a medical practitioner in your area so you can get a good recommendation as well. Before deciding to apply for a loan in a certain company or institution, make sure first that you have fully understood the terms and conditions.

Credit cards are also a form of paying unsecured loans but unlike unsecured medical loans the interest and rates are lower than a credit card charge. Thanks to medical loans now we can have the medical treatment we needed without worrying of how to pay the medical expenses. May it be elective or a medical treatment one can always count on medical loans. Even so, keep in mind, accidents happen and diseases come unexpectedly, so if the treatment is not that important (you can live without them treatment) better save the loan for the more important things in the future.

Peter Barlow is a finance specialist and has written many loan related articles to help people get the loan they need at the rates they want.

Learn where the best places are to borrow money which is a popular website that specializes in providing information on Bad Credit Signature Loans

How to stop those 3 putts and start putting like a Tour Player! It's not that hard IF you know a couple of things.

Mortgage Loan ?Qualify for a Better Interest Rate

If you are in the process of taking out a mortgage or refinancing your current mortgage there are steps you can take to get a better interest rate. Here is what you need to do before applying to improve your interest rate.

Clean Up Your Credit

The interest rate you will qualify for largely depends on the state of your credit. At least six months before you start applying for a mortgage you need to tune up your credit. Under the Fair Credit Reporting Act (FCRA) in the United States you can dispute any information found in your credit reports.

Obtaining your credit reports is the first step. Recent legislation in the United States requires the three credit agencies to provide one free copy of your credit report every year. The three agencies are Equifax, Trans Union, and Experian. You can request the free copies by visiting the website annualcreditreport.com.

If you find errors on any of your credit reports you need to dispute them. The credit agency has thirty days to investigate the error once you report it to them. If they are unable to verify the accuracy of the information in question the agency is required by law to delete it from your file.

Some experts state that nearly eighty percent of the records maintained by the credit agencies contain inaccurate information. It is however, your responsibility to ensure your individual records are accurate. If you find errors the credit agencies are required to forward your claim to the creditor in question. If the creditor believes the information is accurate they may resubmit it to your credit; if his happens you will need to settle the dispute with that creditor.

Once you have verified that the information found in your credit reports is accurate you need to concentrate on your repayment history. It is important to have a record of making on-time payments. For at least six months before applying for a mortgage or home equity loan make sure you are making your mortgage and credit card payments on time.

The information found in your credit reports, including your repayment history, is used to calculate your FICO score. By taking the steps outlined in this article you will improve your FICO score and the mortgage interest rate you will qualify for.

To learn more sign up for a free mortgage guidebook.

To get your free mortgage guidebook visit RefiAdvisor.com using the link below.

Louie Latour is a mortgage professional and the owner of RefiAdvisor.com, a mortgage resource site offering a free gift for homeowners: "Mortgage Refinance - What You Need to Know." This guidebook helps homeowners avoid common mortgage mistakes and predatory lending practices.

Claim your free guidebook today at: http://www.refiadvisor.com

St Louis Mortgage Refinance

Want to run a successful email marketing campaign in 2009 and beyond? This article will give you some solid tips to get you started.

Car Finance - Spoiled For Choice?

Selling cars is an extremely competitive business. Manufacturers and dealers are obviously thoroughly aware of this and will do everything in their power, therefore, to ensure that the consumer is presented with an array of options when it comes to actually financing the purchase. The choice of different car finance options is no bad thing for the consumer, of course, but it does require some clear thinking to ensure that the best deal is secured on what is likely to be one of your more significant financial commitments.

To begin breaking down some of the car finance options, one of your first choices will be whether to borrow the necessary funds from your bank or another commercial lender, or from the car dealership itself.

If you arrange your own finance in the form of a personal loan, completely independently of the dealer selling you the car, you are at an immediate, distinct advantage of being effectively a cash buyer. This will give you valuable negotiating power and leverage in seeking the maximum discounts and the best possible price on a car which the dealer is, after all, very keen to sell. The loan from your bank will come with a readily understandable annual percentage rate of interest (APR) and a choice of repayment periods. If you can afford somewhat higher monthly repayments, then the shorter you can make the repayment period, the less you will end up paying in interest overall.

Most car dealers will also be eager to offer you a loan from their own car finance partners - indeed, the profit from car finance activities can sometimes exceed the narrow margins the dealer will be making from actually selling the vehicle. This might serve as a warning for the customer, too. On-the-spot finance might be convenient, but it can prove expensive, unless you are prepared to take a long hard look at how the figures stack up. One ruse frequently used by car dealership financing, for example, is to quote a "flat rate" interest on a car loan. Although the number will be lower (and apparently more attractive therefore) a flat rate of interest will cost you significantly more than the same amount of borrowing at an annual percentage rate.

Many dealers will also rely on the appeal of a fairly traditional standby when it comes to financing - and that is a hire purchase contract between you and the seller. Not only can hire purchase be relatively expensive, therefore, but the vehicle does not actually pass into the ownership of the buyer until the final hire purchase installment has been made.

A final form of car finance is the lease agreement. As the name suggests, this involves leasing the car for a predetermined period of time and paying a monthly lease fee. At the conclusion of the agreed period, the customer can simply return the vehicle and no more payments are needed, or they can start a fresh agreement to lease another vehicle, or they can make a final "balloon" payment (determined from the outset and representing a percentage of the original purchase price) in order to buy the car.

Confused.com is one of the UK's biggest and most popular price comparison services. Confused.com helps consumers save money on everything from car loans to mortgages.

CEA Predicts 'Okay' Holiday Tech Spending (PC Magazine)

PC Magazine - With the economy tanking, credit limits shrinking, and 401(k)'s dwindling, will consumers tighten their belts this holiday season when it comes to digital cameras, MP3 players, video games, and other gadgets? Probably not, the Consumer Electronics Association predicts.

Learning Politics Using Board Games

Many board games are based on some realistic life experiences, some deal with sports, real estate, and even banking. Then manufacturers came along and decided to add the process of politics to the line up of gaming options. The games are fun and educational, they also give you insight into the life styles and campaign strategies of people who are presidents, senators and congressmen.