Microfinance Loans
While microcredit loans first originated in the Third World as a way to help launch small businesses thousands of American entrepreneurs are finding it as the alternative solution to traditional lending.
May 5th, 2010Would you Consider your Business Creditworthy?
In the past big used to matter in every aspect of business but as we all know times have certainly changed and as Seth Godin says it best ‘Small is the New Big’. < ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
Whether you run a business from your home or a small office qualifying for corporate credit will require that you have a ‘Big’ business structure in place.
Now I’m not talking about the big office or big staff or even a big elaborate PBX phone system. What you
May 5th, 2010Business SIC Codes: Avoid Being Labeled a High Risk
Business SIC Codes
What is the best way to describe the principle business activity for your company? What type of industry are you involved in? 
What type of products or services do you sell? These are questions quickly determined by the type of sic codes assigned to your company.
The two types of business classification systems used today is the SIC and NAICS codes.
Lenders, insurance companies and business credit bureaus use these systems to determine if your business is in a high risk industry classification. S
A $200-million dollar fund recently announced by Citi will help finance loan funds for small businesses in low-income communities.
Citi has announced important financial news for entrepreneurs who work in developing areas. The company has launched a $200-million fund to jump-start small business lending in low-wealth and low-income communities around the United States.
The Communities at Work Fund will finance nonprofit and for-profit Community Development Financial Institution Loan Funds.
May 5th, 2010Have You Heard of This?
Just recently I had a client interested in putting an offer in on a REO at Kolea at Waikoloa Beach Resort. We put together a very attractive cash offer fairly close to the asking price within a day of it coming on the market. When I contacted the listing agent she said the first seven days it will be on the market it is a “marketing period” where they will not be looking at offers. The second seven days the bank would only look at offers from non profit organizations and people planning to owner occupy the property. It being a vacation rental community it was very odd for that policy I felt.
That being said, someone did put in and offer and is in escrow that will be owner occupying the property. I was told it was a new HUD regulation. Have you heard of this? If so, is there any loopholes? How do they verify that you will be living there?
Mutual Security Credit Union (MSCU) of Connecticut is advertising their “Living The Dream” 2/1 adjustable mortgage. The current adjustable mortgage rate is 2.99 percent with an annual percentage yield (APR) of 3.12 percent. That rate is one of the lowest mortgage rates currently available right now from any credit union or bank.
The 2/1 adjustable rate mortgage is available for home purchases and for refinances. The mortgage offer has no points and no prepayment penalty. With