Business Credit
Tips to get a loan
Let’s look at some tips you should take when deciding to purchase a loan or credit for our business.
Sure we really need a loan
The first tip is to make sure we’re really going to need extra money for our business, and that the only way to achieve this is through external funding.
We may need money to increase our working capital to acquire new machines, to open new premises in order to pay off other debts, etc..
We must bear in mind that a loan is a big responsibility, so before applying, make sure that we will be able to pay in due time.
Make sure that we will be able to pay debt
The second tip is to make sure we are able to pay the debt.
To do this we must develop our projected revenues and expenditures, and assess whether the profits earned once used the loan will enable us to pay the fees necessary to cancel the debt.
Evaluate and compare different financial offers
Before deciding on a particular financial option, we must evaluate and compare well all financial deals are on the market. Read the rest of this entry »
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Tags: American Express Cards, Cards Santander, credit, Debit Master, General, loan, No Credit Loans, Visa Credit | 
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How to choose the business credit indicated
Once we have convinced ourselves that we need a business credit, and we have secured in the first instance that we are able to repay the loan, it is time to evaluate and compare different banks or financial institutions that we can provide The credit required, and different financial products they offer.
In addition to the amount and the requirements or conditions that we can apply the factors or criteria should take into account when deciding on the best financial offer are:
The cost of borrowing
Before taking into account the interest rate offered by banks or financial institutions, which in reality we must take into account is the total cost of financing (known as total financial cost, or cost effective), which consists of the rate interest, plus other costs normally included in the loan, such as costs of issuance or maintenance.
The total cost of financing is the true rate to be paid on a loan, and is the most important criterion should take into account when comparing different financing options available on the market.
The loan term
The period is the period of time gives the bank or financial institution to repay the loan and pay interest. In evaluating the different financial offers that exist, we must consider that the period is granted us according to our ability to pay. Read the rest of this entry »
Posted in Business Credit | Tags: American Express Cards, banks, Cards Santander, Debit Master, financial institutions, General, total cost of financing, Visa Credit | 1 Comment »
This was the first credit card
It has become an indispensable part of many portfolios and a symbol of the developed capitalist economy, but there was a time when credit cards were a means of payment available to very few.
The author of the blog stories of our history has decided to recall its origin, for which we must go back to 1950, in the place you are all thinking.
New York was actually where the idea of realizing a document that extends credit to its owner. It happened in a restaurant in the capital, very close to the Empire State Building, which the famous businessman and director of Credit Corporation “Hamilton”, Frank Mc Namara, had dinner with two other people, including his lawyer, Ralph Sneider. During the meal the three businessmen debated the liquidity problems faced by some of its customers. The capricious fate was that just when it came time to pay, McNamara had to call his wife to bring him cash, since he had forgotten his wallet.
After the rush, the entrepreneur vowed never to go through something so disgraceful like that, which, however, served to create a new company soon after baptized with the inspiring name of “Diners Club”. This new entity would act as an intermediary between customers and banks, providing a credit card offered at various facilities, for the first-, and adjusting accounts later with the second.
This new tool had on initial success, the first Diners Club cards were given initially to about 200 known U.S. billionaire and accepted by 14 restaurants in the capital. Later that year 1950 and had about 20,000 people. The following year, the company has received a benefit of $ 60,000, from the high fees charged to beneficiaries (7%) and the annual maintenance fee (3 dollars). Read the rest of this entry »
A unique card for Euro
The project is considering adopting a European card scheme itself, an alternative to Visa and MasterCard, is already underway.
The project is called Monnet and brings together a dozen financial groups to address a long-standing demand of the European Commission (EC) and European Central Bank (ECB), fill the vacuum of “a political entity, a coin.” In this case the “currency” will be minted in plastic, and accompanying international progress, where cash constantly giving way to electronic transactions.
Increasingly, retail purchases are paid using the cards. In Europe, in 2008, four of every 10 purchases are paid with plastic money.
The aspiration of this project is that an economic bloc as large as Europe, has an emblem itself in the card payment system, so as to identify worldwide.
The group of entities that make up the project have met to discuss the economic viability of the same factual. We define the marketing, product characteristics, technology infrastructure and business model.
The results will be announced next January, and according to the tentative schedule, Monnet could begin operating in 2012.
Depending on the results of economic analysis is carried out, will be defined if only the market will debit products, or you develop payment card and credit ends postponed.
Posted in Business Credit, Uncategorized | Tags: EC and European Central Bank, ECB, European card, European Commission | No Comments »
Select Santander Cards (II)
Bansamex
Select Santander customers can enjoy American Express cards, with the ability to earn Membership Rewards points, redeemable for gift items, and Iberia Plus.
The cards are extra Bansamex end of the month and are offered in three different ranges Green, Gold or Platinum.
Depending on the method employed will vary free linked insurance and the issuance and maintenance costs.
American Express Green: The buyer will pay a maintenance fee of 30 euros first year and 60 euros from the second year.
With the American Express Gold, will pay a maintenance fee of 55 euros and 110 euros the first year after the second year.
The American Express Platinum, the highest product range will pay an annual fee of 540 euros.
As for the accumulation of points rewards program, you must pay a fee of 30 euros to stay as a member. Then for every dollar of spending will receive one point for the Membership Rewards Program. Then MR 15 points, redeemable for a point Iberia Plus.
Santander 4B
Because Select Santander client will receive a debit card with no annual fee, the Santander 4B. This card will be credited as the beneficiary We want to be your bank.
This board may provide cash from its account at any ATM.
Another advantage is the incorporation of free accident insurance of up to 120,000 euros.
Posted in Business Credit | Tags: American Express Cards, Cards Santander, Debit Master, General, Visa Credit | No Comments »
Select Santander Cards
Banco Santander this week has renewed its personal banking segment, targeting clients with assets of over € 100,000.
For this range of high-end customers Santander bank offers two options for credit cards and a debit card. These three proposals are the most prestigious presented below:
Platinum Santander
Platinum Santander is a credit card that offers customers a broad credit limit and maximum security.
Linked to this product, the organization offers free, secure shopping Insurance and effectively protected, along with Travel Assistance, Accident to a maximum of 1,200,000 euros and Multiasistencia Home.
Regarding the flexibility of card payment, you may:
• Payment to make ends meet
• Deferred payment as a percentage of the outstanding balance each month,
• Deferred payment with a fixed monthly fee from 25 euros or all of their daily operations.
In case of opting for the delayed payment, an entity applies a nominal rate of 2% per month, which amounts to 26.82%.
Additionally, we have offers and discounts on exclusive Platinum Collection, as well as a hotline exclusively for Platinum holders.
In terms of cost, this card must pay an issuance fee of 90 euros, and a maintenance fee of equal amount.
Posted in Business Credit | Tags: American Express Cards, Cards Santander, Debit Master, General, Visa Credit | 2 Comments »
Getting Business Credit Line with a Bad Personal Credit Rating
If you are an entrepreneur, don’t be hopeless when your personal credit score is less than 600, you can still have chance to get credit for your business. It is not easy to do and need your patience to work on it. But it is doable. You need to start building business credit score.
Step 1: Obtain a tax ID number for your business, and make legal entity as corporation.
This is the first step to separate your business and your personal assets and liabilities. This is part of the corporate credit concepts
Step 2: Sign up to at least three credit bureaus; Experian, Dun & Bradstreet and Equifax
Now you have a new credit history under your company tax ID, not your social security number
Step 3: Find qualified vendors and get credit lines from them. Start with a small limit and be prompt to the terms, and get bigger limit afterwards.
Vendors’ credit will be a good base for you to build your corporate rating.
Step 4: Make sure that your credit lines in the qualified vendors is reported to the credit rating companies
These four steps look easy, but you need to have high commitment to build your business credit rating. When you personal credit rating is bad, your company rating is the only way you have. Once you have good ratings (around 80) you can try to propose for corporate credit to lenders.
When the lenders check your personal credit rating is not good enough, they might put conditions such as collateral from your company. If you think you can fulfill their requirement, and you finally get the cash from corporate credit. Just make sure to keep good credit history with your first corporate credit because good rating will slowly open more and more credit opportunity for you, such as: business credit line.
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Home Based Business
One more article about home-based business, this time we want to write about the flag business. Yeah really writing about this flag business idea emerged after the rampant selling flags along the road towards the nation’s independence anniversary on 17 August. Looking at the needs of people in big cities, in general a lot of new housing built with the many demands for housing needs. Housing, new housing is usually occupied by new families and new immigrants who generally do not have a flag to the pair at home. An attractive market is not it? From here there are opportunities to sell knick-knacks such independence flags, flagpoles, banners to decorate the flag which is usually installed horizontally in the home or office.
This flag business is not difficult. Armed with sewing skills then we only need the fabric to shape and then cut and sewn flags or banners. If we can not sew, we can ask for a seamstress and paid by the job. If this is also not possible then the only way is to buy a party and then sold again with profit margins you set up their own Some new homes generally do not have a flagpole and a place to put up the flag pole. If you decide to sell the flag, you should also provide the flag pole complete with a place to drove it. Interesting not flag this business? This paper is a bit late but as one of the home business articles, we hope this paper can give new inspiration to you to conduct a similar business like a business selling Christmas trinkets, knick-knacks business Lebaran / ramadan
Posted in Business Credit | Tags: Business, Canada, Etiquette, Flag, Flags and Banners, India, Shopping, United States | No Comments »
Business Owners Can Avoid Stress by Building Business Credit Before It’s Needed
All types of business need corporate credit at some point. Too many business owners avoid building credit until it is desperately need, and this is a mistake. This leads to stress and aggravation, the last thing a business owner in financial straits needs. Credit for an existing business does not come quickly, if at all.
Building business credit before it is needed can help avoid this problem. Just knowing the credit is available is helpful. If a great deal comes along., the smart business owner can take advantage, knowing the financing is already in place.
There are many reasons to build credit for a business. Large orders can be accepted, knowing that the money is in place o buy materials and hire additional workers to complete the job. No one wants to lose a potentially profitable large order because there is no financing in place for material or equipment.
The job will go to a competitor who was smart enough to have credit already in place. In today’s tough economy, few businesses can afford to turn down a large customer. You can be sure that customer will never call your business again. They will use the more professional company, your competitor.
As you can see, no business can afford to be without credit if that business wants to stay in business.