3 Types of Commercial Real Estate Loans

A commercial real estate loan can help you get your business started or kickstart some growth. Here are three types of commercial real estate loans.

1. SBA 7(a)

A Small Business Administration (SBA) 7(a) loan is a good option if you have trouble getting approved for a traditional commercial real estate loan. These loans are provided by SBA approved private lenders and you must have been rejected for a standard bank loan to qualify. The down payment typically won’t exceed 15%, while the interest rate could reach 8.5%. However, the repayment term is fairly flexible and the loan can cover as much as 90% of the property’s market value.

2. CDC/SBA 504

This type of loan is also federally backed. One of the qualifications for approval is to meet the local community development corporation’s (CDC) job creation goals because the CDC provides 40% of the loan. These loans have fixed interest rates that typically don’t exceed 5.07% and the standard down payment is 10%. However, since the goal of the lenders is community and job growth, the loan and down payment amounts are relatively flexible. Additionally, the loan itself is suitable for a broad range of business prospects and there is no cap on how much you can borrow.

3. Traditional Commercial Mortgage

Traditional loans, by contrast, are private loans not managed by the federal government. For example, if you’re looking for commercial real estate loans Birmingham, your first stop will probably be a bank or private loan company. … READ MORE ...

When Is the Best Time to Get A Car Loan Agreement If Coronavirus Has Affected Our Family Economy?

It’s no doubt that COVID-19 has dealt a great blow on the economy of several nations. This has consequently crippled the personal income of many families, with unemployment rates reaching a record high since the outbreak started. Most world governments are doing all they can to ameliorate the living condition of their citizenry with palliative mostly provided so they can successfully enforce the stay at home order. In as much, as the government continues to provide financial support for their populace, there is little government can do in this precarious time to mitigate the impending hardship that would be faced by the majority of the unemployed populace. Without a doubt, COVID-19 is peradventure the worst thing to have befallen any economy, with unemployment hitting off the charts the trend will definitely not slow down till it’s done its damage.

Is a car loan the right at this time?

Whether or not taking a car loan is feasible or right is solely relative to the credit status of the family, if one has been on bad credit already, then a car alone isn’t going to be feasible. Having a good credit stance doesn’t necessarily mean one can go all out to get a car loan, getting a car loan comes with many financial responsibilities as one needs to properly service the car loan and still provide for the needs of the family which include shelter, food and clothing as basic needs. It would take careful judgement on the part of the … READ MORE ...

A Brief Look at Equipment Finance Lease

Gear lease requires quite a few forms. Gear finance lease is one of these forms, which differ from the ordinary lease in that, the equipment is purchased especially for the business intending to lease it.

In some cases, you find companies requiring particular gear. Nonetheless, on account of different variables, the enterprise may not be in a position or prepared to raise the capital amount needed to cover the price. Typically a business enterprise is not going to function adequately with no required capital gear, which can vary from easy office furniture to heavy plant machinery. The enterprise may also want the gear only for any restricted period and hence purchasing them could be a waste of sources. Finally, there could be some advantages related to leasing the gear as an alternative to buying them top the organization to go for the lease. Some of the popular advantages that would lead to such a decision include tax benefits and elimination of unexpected repair costs that keep on coming up.

In ordinary equipment lease arrangements, the business hires the gear for a provided period only. There is certainly also the alternative to upgrade to new or additional advanced equipment when you can afford the new rates charged. This arrangement favors the organization mainly because the gear won’t seem within the balance sheet and it can love the benefit of no depreciation. This tends to make it quite diverse in the equipment finance lease, which permits a single to claim depreciation, operating … READ MORE ...

How Online Reviews and e-Learning Videos can Help in Repairing or Upgrading our Cars

Thanks to the internet, we can access information more comfortably and faster with numerous learning platforms. With our smartphone, we can seek solutions for our immediate need from reliable online sources, and the automobile industry has been positively affected by these changes. You can do more with your smartphone, from renting a car to buying one.

However, there are more things we can do online relating to the automobile industry. Have you tried searching for solutions about your car or The Trailer parts opinions for big vehicles online? You will find answers to problems or parts that you can easily handle yourself.

You can find ways to upgrade your car through online reviews and e-learning videos through the following approaches:

1.      Determine the reliable automobile platforms

You cannot just trust any information thrown at you from all online sources, to avoid causing damages to your vehicle. Thus, you want to be sure that you are getting the right information or instructions to help you upgrade your cars. With reading online reviews about the services of the companies, you can find reliable platforms based on customers’ experience. You can easily pick out reliable platforms from how the media have been helpful to the customers from the reviews.

2.      Fix car parts with e-learning videos

You do not necessarily need to go to the auto workshop to fix the simplest things you can do yourself. There are certain upgrades you can carry out yourself with the aid of e-learning videos, and … READ MORE ...

How To Ensure Your Business Transitions to a Safe Delivery Model

Where delivery was once limited to select casual restaurants and small-town pharmacies, more and more businesses are embracing this service as a way to preserve business during the COVID pandemic. If you have considered adding a delivery model to your existing business, there are certain things you should do to ensure the transition goes smoothly and safely. 

Conduct All Necessary Screenings

Anyone who will be driving company or private vehicles on behalf of your business should undergo a pre-employment driving record check. Look for prior accidents and moving violations that could increase your liability and possibly impact your insurance rates. This applies to current employees who are transitioning to driving roles, too. Just because someone has been a stellar employee in one role doesn’t guarantee that they will also be a great delivery driver. 

Secure Appropriate Insurance Coverage

Depending on how you are planning to conduct deliveries, there are several options for securing appropriate insurance coverage. Before you send out the first driver, conduct a review of your current policies. Talk to an agent who can help you decide what coverage you need to limit liability and reduce additional risks to your business’ financial security. A few options you might consider include:

Provide Clear Signage for Delivery Vehicles

There are several reasons you want delivery vehicles to be clearly marked. First, it helps … READ MORE ...