Medical loans – Medic Buzz http://medicbuzz.net/ Thu, 31 Mar 2022 09:05:42 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://medicbuzz.net/wp-content/uploads/2021/06/cropped-icon-32x32.png Medical loans – Medic Buzz http://medicbuzz.net/ 32 32 Auto finance penetration increases as loans get cheaper https://medicbuzz.net/auto-finance-penetration-increases-as-loans-get-cheaper/ https://medicbuzz.net/auto-finance-penetration-increases-as-loans-get-cheaper/#respond Thu, 08 Apr 2021 02:38:31 +0000 https://medicbuzz.net/auto-finance-penetration-increases-as-loans-get-cheaper/ Chennai: Low five-year interest rates on auto loans pushed India further on the auto finance penetration map to 77% from 74% in 2016. The United States leads the way with penetration of more than 80%.
A combination of the downturn and the pandemic along with cheaper credit has helped increase financing penetration as more people prefer to keep cash on hand and have their vehicles financed.
In the past 18-24 months, funding penetration has increased by 2-3%. Passenger vehicle finance penetration in the United States has remained unchanged for almost 4 years – 86% in 2016 to 85.5% in the second quarter of 2020, according to data from Statista. “The penetration of auto finance has been at a high level over the past year and a half,” said Ravi Narayanan responsible for guaranteed assets, ICICI Bank. Ashish Modani, Vice President of ICRA, added: “Funding has seen a 2% to 3% increase in passenger vehicles over the past 2 years or so. Vehicle financiers say current interest rates, which are down at least 125 basis points (100 basis points = 1%) year over year, are the lowest in a long time , which made financing attractive. “In India, finance has always played a very important role in the automotive industry and finance penetration has always been around 75%. The penetration of finance varies from 2 to 3%. Interest rates are one of the important factors influencing Current interest rates are the lowest in at least five years, ”said Vyomesh Kapasi, MD, Kotak Mahindra Prime:.
Auto dealers claim that a combination of slowing down and cheaper financing for first-time buyers has actually boosted financing penetration. “India has a higher proportion of first-time buyers compared to other countries. And the organized used car market is still growing in India, prompting customers to switch to new cars. And long-term operating lease options are preferred in international markets, but in India customers prefer to own the vehicle, ”said Narayanan of ICICI:.

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A Brief Legal Guide To Buying A Troubled Business | Favor Swift Collins & Smith https://medicbuzz.net/a-brief-legal-guide-to-buying-a-troubled-business-favor-swift-collins-smith/ https://medicbuzz.net/a-brief-legal-guide-to-buying-a-troubled-business-favor-swift-collins-smith/#respond Thu, 08 Apr 2021 02:38:19 +0000 https://medicbuzz.net/a-brief-legal-guide-to-buying-a-troubled-business-favor-swift-collins-smith/

Earlier in the pandemic, our team identified the economic crisis caused by COVID-19 as a growth opportunity for companies with the vision and the resources to take advantage of it. One of these opportunities is the ability to diversify or grow by acquiring struggling competitors, suppliers or customers.

States across America are starting to reopen and restart their economies. Sadly, not all businesses will have survived COVID-19 and its impact on the economy. Some companies were unable to generate revenue before the pandemic for nearly a year and may struggle to meet their fixed cost obligations. At the same time, federal loan programs, such as the Main Street Lending Program and the Paycheck Protection Program, have made large amounts of financing available at low interest rates. This creates an opportunity for businesses that have or have access to cash to buy distressed businesses at bargain prices.

There are a number of legal issues to consider when buying a struggling business, but two stand out. First and foremost, the buyer should perform thorough due diligence. Second, the buyer must decide to buy the assets of the business before it becomes insolvent or to wait to buy the business in Chapter 11 bankruptcy.

Due diligence

Due diligence is the cornerstone of any transaction, but it takes on added importance when buying a struggling or bankrupt business. Prospective buyers should search public records for UCC financing statements, tax or legal liens, or lawsuits. Financing statements reveal any liens or debts associated with the seller’s specific property and highlight hidden liabilities. Reviewing these documents will paint a more complete picture of the seller’s business and help the buyer assess the risks and value of the assets. It also helps identify potential creditors who could exercise recourse after closing.

Theoretically, buying assets in bankruptcy should reduce the burden of due diligence. Uncertainty is reduced as creditors have been identified and claims filed. However, due diligence remains paramount as the assets are sold “as is”, which may leave the buyer little recourse for damaged or substandard assets. In addition, the due diligence period may be reduced by the nature of the auction process.

Regardless of the type of sale, every buyer should have an experienced due diligence team on standby to help uncover the pitfalls for the unwary.

Buy the assets of a struggling business

A struggling business is a business that cannot or is struggling to pay its financial obligations. Rather than buying the equity of a struggling business, it is advisable to structure the transaction as an asset purchase. This allows the buyer to limit his exposure to the risks associated with known and unknown liabilities, while assuming only the desired assets.

The main concern when buying the performing assets of a struggling business is that the seller may then file for bankruptcy and creditors will try to avoid the sale as a fraudulent transfer. The trustee may avoid any transfer occurring within two years of filing for bankruptcy of the seller if there is (1) actual fraud or if (2) the transfer is less than the value of the assets when the seller was insolvent or has been made insolvent by the sale. Obtaining a fairness opinion from an investment bank demonstrating that the transaction was fair consideration can help a buyer avoid this pitfall.

Another way to reduce the risk of buying a struggling business is to require that a large portion of the purchase price remain in escrow. This makes it easier for the buyer to recover costs resulting from a post-closing issue and to cover indemnification agreements. The indemnity agreement should cover any breach of traditional representations and guarantees, as well as any costs incurred by creditors seeking to reverse the transfer. Without a large hold, it will be difficult to claim a refund as the entity holding the remaining assets may be worth only a few cents on the dollar.

Buy in a bankruptcy sale

A bankruptcy sale has its own advantages and disadvantages. Similar to a sale of distressed assets, buyers have the option of paying bargain prices for underperforming assets prepared for a turnaround.

The most common type of sale is the Internal Revenue Code Section 363 sale. The sale under section 363 usually involves an auction and the winning bidder receives assets free of any liabilities, unless expressly assumed. The sale is subject to court approval.

There are generally two types of buyers in a bankruptcy auction: the bidders and the stalking horse. The stalking horse makes a base bid, which is subject to higher bids. If the stalking horse’s bid is the highest bid, the trade continues from there. If a higher bid is accepted, the stalking horse typically receives a breakage fee of 1-3% of the purchase price. The stalking horse also enjoys the longest period of due diligence.

The bidders compete with the stalking horse and other bidders for the assets of the bankrupt company. This creates two risks: on the one hand, the risk of overpaying to win the auction and on the other hand, the risk of underbidding and losing the auction. The bidder may have a shorter due diligence period and must be prepared to act quickly to identify the risks associated with the purchase.

Whatever its role, buyers must be open to negotiations with the seller, the creditors and the court. Each of these three groups has varying degrees of authority in accepting or rejecting the agreement, so it’s important to take each other’s considerations into account.

Final considerations

Buying a business comes with risks and rewards. These same risks and rewards are magnified when buying a struggling business or buying a business in Chapter 11 bankruptcy. You will need an experienced team on your side to help you. assess and minimize the risks associated with the transaction.

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Reduction in taxes on education, healthcare, infrastructure spending, etc., highlights budget 2021 https://medicbuzz.net/reduction-in-taxes-on-education-healthcare-infrastructure-spending-etc-highlights-budget-2021/ https://medicbuzz.net/reduction-in-taxes-on-education-healthcare-infrastructure-spending-etc-highlights-budget-2021/#respond Thu, 08 Apr 2021 02:38:10 +0000 https://medicbuzz.net/reduction-in-taxes-on-education-healthcare-infrastructure-spending-etc-highlights-budget-2021/

Manitoba’s Progressive Conservative government released its 2021 budget on Wednesday afternoon, and it included dozens of announcements covering a variety of areas from healthcare to COVID-19 relief programs to infrastructure, to education and tax breaks.

Here are some of the highlights:

Protecting Manitobans with COVID-19

The top priority of Budget 2021 is to continue to protect Manitobans during the ongoing pandemic. This includes $ 1.18 billion in 2021-2022 for the costs of COVID-19, including personal protective equipment (PPE), vaccine deployment, education supports, and future needs.

Health care funding increases by $ 156 million to the highest level in Manitoba history of $ 6.98 billion, helping to build a stronger health care system with better care, faster. Health care commitments include:
• Confirmation of capital of $ 812 million for rural and northern health care as part of the multi-year plan for clinical and preventive services;
• $ 50 million to reduce wait times for hip, knee and cataract procedures, as well as surgeries and services delayed by the pandemic;
• $ 23 million more for cancer treatments and $ 2.7 million to expand dialysis;
• $ 9.3 million to add more than 120 personal care home beds; and
• continued glucose meter coverage for eligible children and youth under 25 and increased insulin pump coverage to 25 from 18 years of age.

The pandemic has profoundly affected the mental health of many Manitobans. Budget 2021 includes an initial amount of $ 342 million for programs and services within the new Ministry of Mental Health, Wellness and Recovery, plus an additional $ 1.7 million for the Strategy. mental health and addictions issues and an additional $ 1.8 million for 24/7 housing support for Manitobans with diagnosed mental disorders. health conditions.

Protect Manitoba Families

The province will continue to lift Manitobans out of poverty by providing safe, affordable housing and strengthening social services, thanks to an increase of almost $ 34 million to the Ministry of Families. The 2021 budget includes:
• nearly $ 4 million more for early learning and child care, with operating grants of $ 1.6 million to child care centers supporting 392 spaces opened over the past year, approximately 150 new spaces in capital projects open over the next year, plus 50 new homes – licensed child care spaces;
• Rent control directive frozen until 2023 and an additional $ 22 million for rent assistance;
• Increase of $ 12.5 million for community integration and disability services;
• $ 2.56 million to support homeless Manitobans; and
• nearly $ 2 million to pilot three new workforce training and support programs for Employment Income Assistance (EIA) clients.

Budget 2021 provides for a record investment of more than $ 3 billion in the public school system. Global support for education includes:
• over $ 78 million for costs related to COVID-19 through the Safe Schools Fund;
• $ 5.5 million for special needs funding;
• $ 5 million to advance the Better Education Starts Today (BEST) strategy to improve the education system, plus an education funding guarantee of at least $ 1.6 billion in additional investment over four years;
• nearly $ 4 million to support online, distance and distance learning;
• a new refundable tax credit for educational expenses that will allow daycare and kindergarten to grade 12 educators to claim a 15% refund up to $ 1,000 on eligible supplies not reimbursed by their employer; and
• A $ 100 million increase in funding for school capital projects to speed up construction of the 20 New Schools Guarantee, build major additions and carry out renovations.

Budget 2021 invests in public safety to keep families safe in their homes and communities and to support victims of crime:
• $ 16.5 million for the operation of the Manitoba Public Safety Communications Service’s new radio system;
• up to $ 2.9 million to correct the backlog in the court system caused by COVID-19;
• an additional $ 815,000 to increase support for domestic violence and the families of missing and murdered Indigenous women and girls; and
• $ 1.2 million in restorative justice initiatives for First Nations and Métis communities.

Budget 2021 leaves more money on the kitchen tables of Manitoba families by offering the guaranteed $ 2,020 tax cut one year ahead of schedule:
• phase out school property taxes of 50 percent over the next two years (25 percent per year) for residential and agricultural properties, and 10 percent for other types of property, with discounts of nearly 250 million dollars to approximately 658,000 homeowners this year and an average rebate of $ 1,140 over two years;
• elimination of the retail sales tax (RST) on personal services, including haircuts and salon services, effective December;
• reduce vehicle registration fees by an additional 10 percent from July; and
• Indexing the basic personal amount and personal income tax brackets to inflation so that an additional 1,500 Manitobans will not have to pay provincial income tax for 2021.

“We know Manitobans deserve a break, especially during this pandemic,” said Finance Minister Scott Fielding. “That’s why we’ll take even more steps to protect your income by reducing the taxes you pay and helping you keep more of your hard-earned money with you, where it belongs. “

Budget 2021 protects Manitoba’s environment for future generations with more action on climate change and protects the clean energy advantage with safe Manitoba Hydro. Investments include:
• $ 1.2 million to the Climate and Green Plan Implementation Office,
• $ 1 million for Conservation and Climate Fund projects, and
• $ 20 million endowment fund so Manitobans can enjoy provincial parks for generations to come.

Moving Manitoba Forward After COVID-19

The second objective of the 2021 budget is to promote employment and economic recovery. Manitoba’s economic outlook points to a strong rebound in 2021 with real GDP rising 4.1%, followed by another strong year in 2022 of 3.6% real growth.

“Economic growth and job creation remain at the heart of our plan for a stronger and more prosperous Manitoba,” said Mr. Fielding. “The pandemic has disrupted our economy and our citizens, and we remain committed to helping Manitobans regain their livelihoods. “

Budget 2021 includes more than $ 62 million to help businesses retrain their employees and develop e-commerce platforms, and $ 25 million for youth employment programs.

Additional tax relief for small businesses includes lowering payroll tax thresholds to cut rates for about 1,100 small businesses, the exemption for about 240, and improving or extending several credits. tax in areas such as venture capital for small businesses, interactive digital media and film production.

Budget 2021 helps post-secondary students pay almost $ 700 million to post-secondary institutions, plus an additional $ 4 million in scholarships and an additional $ 1.4 million in interest-free student loans.

A record $ 2.1 billion investment in strategic infrastructure will help create construction jobs and stimulate the economy:
• nearly $ 630 million for road construction and maintenance, including $ 107 million under the Manitoba Restart Program, which will improve safety at the intersection of the Trans-Canada Highway and the Provincial Highway 16 and the St. Mary’s Road South Perimeter Interchange;
• over $ 292 million for health infrastructure, including the new emergency department at St-Boniface Hospital; and
• $ 415 million for Kindergarten to Grade 12 and post-secondary infrastructure.

The budget provides $ 101 million for the Lake Manitoba and Lake St. Martin Outlet Canals Flood Prevention Project, and $ 100 million for potential emergencies such as floods, wildfires and drought.

The 2021 budget also supports communities through the following commitments:
• Increase of $ 103.5 million for priority strategic infrastructure projects that correspond to federal funds under the Investing in Canada Infrastructure Program (ICIP);
• flexible pooled funding to municipalities with $ 172.6 million in operating costs and $ 137 million in capital costs, with operating grants advanced again this year;
• $ 25 million in trust to redevelop the Hudson’s Bay Building in downtown Winnipeg; and
• $ 5.6 million more for the Building Sustainable Communities program to fund more than 10 larger-scale community capital projects.

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DEP Announces Program Enhancements to Help Builders Obtain Low Interest Loans for Energy Saving Projects | State https://medicbuzz.net/dep-announces-program-enhancements-to-help-builders-obtain-low-interest-loans-for-energy-saving-projects-state/ https://medicbuzz.net/dep-announces-program-enhancements-to-help-builders-obtain-low-interest-loans-for-energy-saving-projects-state/#respond Thu, 08 Apr 2021 02:37:53 +0000 https://medicbuzz.net/dep-announces-program-enhancements-to-help-builders-obtain-low-interest-loans-for-energy-saving-projects-state/

(The Center Square) – The Pennsylvania Department of Environmental Protection (DEP) has announced that it will be easier for homeowners to obtain low-interest loans for conservation projects and d ‘energy improvement via the Green Energy Loan Fund (GELF).

Two improvements to the GELF will make it easier to obtain financing for the loans, officials said. Borrowers can get even lower rates if they agree to make a retro-commission after the installation of their energy saving project or by mobilizing GELF funding against other capital to increase resources. potential available to borrow.

“We support projects that take energy efficiency beyond building code standards, which other lenders may be less willing to support. This allows homeowners to realize significant long-term energy savings, reduced greenhouse gas emissions and savings on their utility bills, ”said DEP Secretary Patrick McDonnell.

The reinvestment fund created and managed the GELF and works with builders to ensure their projects meet specified energy saving requirements to be eligible for funding.

GELF can finance commercial properties, non-profit facilities, multi-family residential buildings and industrial facilities. Applicants can be building owners, developers or commercial tenants.

Since the program began in 2009, GELF has funded 16 projects for a total of $ 23 million in improvements. The funding has reduced carbon dioxide emissions by 110,000 tonnes over the life of these projects.

Our content is free, but our journalists work hard. 100% of your contribution to NorthcentralPa.com goes directly to helping us cover important news and events in our area. Please say local news matters!



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Mortgage Interest Rates Today – CNET https://medicbuzz.net/mortgage-interest-rates-today-cnet/ https://medicbuzz.net/mortgage-interest-rates-today-cnet/#respond Thu, 08 Apr 2021 02:37:31 +0000 https://medicbuzz.net/mortgage-interest-rates-today-cnet/

Now is the time to get a great mortgage rate on your dream home.

Matt Elliott / CNET

In response to market volatility at the start of the COVID-19 pandemic, the Federal Reserve reduced its benchmark interest rate for the first time in over a decade, creating a ripple effect in the market. For homebuyers, this has translated into historically low mortgage rates. Now is a great time to study the mortgage rate you might qualify for on a future home.

What is a mortgage rate?

Your mortgage The rate is the percentage of interest that a lender charges for granting the loan you need to buy a home. Interest helps cover the costs associated with lending money – and there are many factors that determine the rate you are offered. Some are specific to you and your financial situation and others are influenced by macro market conditions, such as the overall level of loan demand in your region or nationwide.

What factors determine my mortgage rate?

The most common factors determining a mortgage rate are your credit rating, the location of the property, the down payment amount, the loan terms, and the type of loan.

“Many mortgages are [paid back in 360 payments] over 30 years. Shorter term loans, like 10, 15 or 20 years, have lower interest rates, ”explains Clint Lotz, president and founder of predictive credit technology company TrackStar. “A larger down payment means a lower interest rate; if a buyer can make the 20% down payment, that’s fine, but if not, lenders will usually require the buyer to buy PMI: private mortgage insurance. “

In addition to the length of the loan, the type of loan will have an impact on your interest rate. Some loans have a fixed interest rate for the life of the loan, while others have an adjustable rate, which could result in significantly higher payments over time.

What credit rating do you need to get a mortgage?

Most conventional loans require a credit score of 620 or higher, but Federal Housing Administration and other types of loans can accommodate lenders with scores as low as 500, depending on your down payment. If you have a high credit score, you may be offered a lower interest rate and a smaller down payment. Improve your credit rating before you apply for a mortgage can save you money even if you already qualify for a loan.

Credit is the most important factor in the interest rates of mortgages and all other loan products, so ensuring that credit balances are below 30% is essential to maximize a credit score ”, Lotz explains. “If a person finds errors in their credit report, they should dispute them to ensure the most accurate history.”

What is the annual percentage rate and what does it mean for mortgages?

Your annual percentage rate is a key factor in choosing a mortgage. The Federal Open Market Committee lowered the US prime rate in 2020, which paved the way for today’s relatively low rates: the interest rate offered to you by a lender is based on the prime rate plus the premium that the lender offers. The institution decides to bill you, based on your financial situation.

What is the impact of the APR on capital and interest?

More Mortgages are based on an amortization schedule: you pay the same amount each month throughout the life of the loan, although the interest generated will be highest at the start of the loan and will decrease as the principal decreases. (Your amortization schedule will show how much of your monthly payment is spent on interest and loan principal repayment.) Ultimately, most borrowers appreciate the convenience of a fixed, predictable monthly payment.

What else can impact my rate?

Getting a good mortgage rate requires building credit, but also managing it well, including saving for a down payment and keeping extra savings on hand to cover unforeseen expenses.

In most cases, you don’t want to stretch your down payment too much that you find yourself running out of cash when you move into your home, and keeping cash savings can help your lender feel confident in your ability to repay the loan. loan, potentially lowering your rate.

“Banks are very keen on making sure borrowers have enough savings in reserve after closing. A good rule of thumb is six months of mortgage / tax and insurance for loans under $ 750. $ 000 and 12 months for jumbo loans “, explains Melissa Cohn, executive mortgage banker at William Raveis Mortgage, based in Connecticut.

Keep in mind that credit scoring services like FICO adjust your credit based on mortgage inquiries; Lotz has good advice for those who are to shop for the best rate from different lenders.

“The FICO company allows a borrower to compare offers and rates from different lenders, but borrowers need to make sure they’re within that one-day window or their scores will start to drop from over-investigation. “

Shop Mortgage Rates

Mortgage lenders often post their rates for different types of mortgages online, which can help you find and narrow down the lenders you are applying to. prior approval. Shopping is an important part of the process. And it is often a mistake to speed up the process.

“The best price [should be considered] – but equally important, the best service and with a reliable lender who can close the rate promised, “Cohn says.” It’s one thing – especially right now – to get a rate. It is a very different matter to shut it down in time. “

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Minamino on loan from Southampton: “Playing is the most important thing” https://medicbuzz.net/minamino-on-loan-from-southampton-playing-is-the-most-important-thing/ https://medicbuzz.net/minamino-on-loan-from-southampton-playing-is-the-most-important-thing/#respond Thu, 08 Apr 2021 02:37:11 +0000 https://medicbuzz.net/minamino-on-loan-from-southampton-playing-is-the-most-important-thing/

Takumi Minamino’s last minute loan to Southampton was by far the biggest surprise of January transfer window for Liverpool. While a loan to Minamino to see an increase in playing time made sense, there wasn’t much discussion of a loan deal before it was announced that he would spend the rest of the season with the Saints for two hours. after closing the window.

As it turns out, Minamino was just as surprised as everyone by how quickly the deal came to fruition. Liverpool lender gave insight into the late move in a interview with the official Southampton website today.

“It was the last day [of the transfer window], after training – around five o’clock, I think. Some guys called me, and it just happened, ”Minamino said.

“I wasn’t expecting it at all,” he admitted, “So I was probably the most surprised of them all when I got the call. It was a good feeling. For me it was a good opportunity and I had a positive feeling. I wanted to take this chance and I came here.

According to the Japanese forward, it was a conversation with compatriot and former Southampton defender Maya Yoshida that convinced him to take the loan.

“Before the deal was finalized around midnight, I had about 30 minutes to chat with Maya. I asked him about the team, the manager and the players. He told me everything, he explained to me some positive points about this team. I have talked a lot with Maya.

The change of scenery appears to have breathed new life into the 26-year-old who struggled to secure meaningful playing time at Liverpool before loan. He quickly settled on the south coast and is enjoying his football again.

“I feel a real positive energy from the team. I feel a good connection with the rest of the players and the manager, so I’m really having fun here. Everyone in the team was really good and helped me. As players and as people they were all amazing, ”he says.

While the atmosphere and camaraderie is great, the biggest and most significant change for Minamino has been seeing regular minutes after his struggles to break into the Liverpool squad.

“For a football player, playing is the most important thing. Playing more helps me regain my confidence as a player. I want to play more; the more I help the team and contribute to the victories, the more my confidence will grow.

It’s really fantastic to hear that Minamino is enjoying his football at Southampton after a pretty tough time since moving to Liverpool last January. While he clearly hopes to use that loan to regain his form and gain a bigger role upon his return to Merseyside, he is fully committed to helping the Saints rise through the ranks on the home stretch of the 2020 campaign- 21.

“I only have a few months left to help the team, but I want to work hard and use all my abilities to make sure the team is performing well and moving up in the league as much as possible.”

“I just want to help the team by scoring and helping as much as possible. I’m an attacking player so it’s my responsibility to score and help to help the team. This is where I focus. “

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How to Improve Your Chances of Getting a Bank Loan – Daily Business Magazine https://medicbuzz.net/how-to-improve-your-chances-of-getting-a-bank-loan-daily-business-magazine/ https://medicbuzz.net/how-to-improve-your-chances-of-getting-a-bank-loan-daily-business-magazine/#respond Thu, 08 Apr 2021 02:36:34 +0000 https://medicbuzz.net/how-to-improve-your-chances-of-getting-a-bank-loan-daily-business-magazine/

CASH FLOW ADVICE: Craig Alexander Rattray offers advice to show your bank that you are a good risk


Remember that banks only make money by lending to businesses, so they are always willing to do it, but only to businesses that present a good risk.

To secure bank loans, it’s important to show that you and your business are a good risk.

How do you improve your chances of getting bank financing and being seen as a good risk?

If you can tell the bank:

  1. There where you are
  2. Where you have been
  3. Where are you going

And you can convince them that you have an effective strategy and a good management team to deliver the operational plan, then they’ll lend you all day.

Key tips:

– Show the bank that you understand your finances and, more importantly, your cash flow.

– Show the bank that you are preparing good financial information on a timely and regular basis (historical, current and forecast).

– Keep the bank close to you. Share regular information, ideally share your management software package and your forecasts updated monthly, as well as a regular discussion maybe quarterly.

Tell them the good news and share the bad news – but explain the bad news and what you did to turn it from bad news to good news (or at least acceptable news that doesn’t unduly worry the bank – do -to know them are aware of it and face it rather than hiding from it).

What types of financing do banks offer?

Banks can offer a variety of types of financing, some of which are briefly explained below:

Commercial mortgages: used to purchase property-related assets such as production facilities, service depots and offices; generally repaid over more than 20 years.

Business loans: similar to mortgages, but unsecured by real estate and generally based on business assets and future cash flows; generally reimbursed between 3 and 7 years.

Asset financing: used to purchase assets used in the business, such as plant and machinery, production equipment, IT equipment, trucks and vans, tools and equipment, office equipment and cars ; generally repaid over 3 to 5 years depending on the life of the asset.

Invoice financing / factoring: these facilities immediately convert your accounts receivable passbook to cash, usually on the basis of a percentage of the invoice value up to 90%; ideal for financing profitable sales growth.

Overdraft: An agreed-upon excess cash position on which the business can operate, secured against the general assets of the business and occasionally by a guarantee from owners and directors.

Loans and asset finance facilities are repaid over a number of years and also incur interest charges and agreement fees, all of which are agreed upon upfront and before the documents are signed.

Invoice / factoring finance facilities are typically set up for a period (eg 12 months and renewed annually) and incur monthly interest and administration charges. Some providers also offer the option of insuring customers’ debts if they don’t pay, which incurs additional fees.

The banks get their money back and make a small margin on this loan. It is important to match the right funding to the situation that requires the funding. As noted above, there are specific types of financing and structures for different situations, and most banks will adhere to them closely.

As a business owner, it’s important that you understand these structures and your obligations around security, reimbursement, and what happens if things go wrong. Unless you have a professional and experienced advisor on your team or a part-time / split-time CFO or CFO, we encourage you to take expert advice before taking such decisions. You may also want to talk to other business owners and learn from their experiences.

We are supporters of debt financing for the right situations because it can be more suitable and cheaper, but as mentioned above it comes with risks if you don’t pay back on time.

Advice on cash flow appears here every Thursday

Extract of Mastering Cash Flow for Business Owners by Craig Alexander Rattray and Jeff Borschowa, available on Amazon, priced at £ 6.95

Craig writes a column for Daily Business every other Monday

See also

Craig Alexander Rattray

CR Enterprise Solutions


> Latest Daily Business News

]]> https://medicbuzz.net/how-to-improve-your-chances-of-getting-a-bank-loan-daily-business-magazine/feed/ 0 Detroit Lions reportedly tried to trade substitute QB Chase Daniel https://medicbuzz.net/detroit-lions-reportedly-tried-to-trade-substitute-qb-chase-daniel/ https://medicbuzz.net/detroit-lions-reportedly-tried-to-trade-substitute-qb-chase-daniel/#respond Wed, 07 Apr 2021 23:17:43 +0000 https://medicbuzz.net/detroit-lions-reportedly-tried-to-trade-substitute-qb-chase-daniel/

ALLEN PARK – The Detroit Lions put another quarterback on the trading block, this time buying Chase Daniel according to ESPN.

Daniel signed a three-year, $ 13.05 million contract with Detroit last offseason. That’s a bit of a lot of money for a guy who started five games and threw 218 assists in 10 years, but the Lions hadn’t invested much in the position over the years and then went down to 0-8 when Matthew Stafford was sidelined the previous season.

Then general manager Bob Quinn opened his checkbook for Daniel last offseason, believing the veteran would offer some stability if Stafford fell again. But Daniel was largely ineffective in four appearances last season, including not even breaking through the midfield in nearly three quarters against Tampa Bay. He completed 29 of 43 total passes for 264 yards, one touchdown, two interceptions and a 79.9 passer rating.

Now the change is underway at quarterback, where Detroit has already agreed to send Stafford to the Los Angeles Rams. The trade can’t be finalized until March 17, but the Lions will receive a third-round pick this year, a first-round pick next year, and another first-round pick in 2022.

The Lions are also receiving Jared Goff as part of the deal. Goff will count $ 27.8 million against the cap, on top of the $ 17.8 million in dead money wrapped in Stafford. That’s $ 44.8 million in quarterbacks in a year the cap only goes down for the second time in NFL history.

This always made Daniel – ceiling reached: 5.75 million dollars – a potential victim. Now it’s done, freeing up an additional $ 2.3 million of space to become a free agency.

David Blough remains on the roster and becomes the favorite to support Goff next season, although the Lions could look to add another quarterback in the draft, and possibly even with the seventh overall pick. Trevor Lawrence is expected to be first overall, although guys like Justin Fields, Zach Wilson, Trey Lance and Mac Jones are other potential first-round picks.

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Reverend William Byrne appointed Bishop of the Roman Catholic Diocese of Springfield https://medicbuzz.net/reverend-william-byrne-appointed-bishop-of-the-roman-catholic-diocese-of-springfield/ https://medicbuzz.net/reverend-william-byrne-appointed-bishop-of-the-roman-catholic-diocese-of-springfield/#respond Wed, 07 Apr 2021 23:17:41 +0000 https://medicbuzz.net/reverend-william-byrne-appointed-bishop-of-the-roman-catholic-diocese-of-springfield/

UPDATE: New Catholic Bishop of Springfield, William Byrne, calls for a “season of hope” in these difficult times “

SPRINGFIELD – The Vatican announced today that Reverend William D. Byrne, priest of the Archdiocese of Washington, DC, has been named the next bishop of the Roman Diocese of Springfield, succeeding Bishop Mitchell T. Rozanski, who left in June to lead the Archdiocese of Saint-Louis.

The announcement was made by Archbishop Christophe Pierre, American pontifical nuncio, in Washington.

Byrne, 55, is the 10th bishop in the history of the Diocese of Springfield.

It is due to be presented in Springfield with a press conference Wednesday at 10 a.m. at the Bishop John Marshall Center. After that, he will preach at the 12:10 mass at St. Michael’s Cathedral. Both events will be broadcast live on the Diocese’s website, www.diospringfield.org.

He will be installed as bishop on December 14.

According to the announcement, Byrne, as a newly ordained priest, was first assigned to Little Flower Church and St. Jude’s Shrine in Bethesda, Maryland.

For eight years he was chaplain at the University of Maryland.

He was appointed pastor of St. Peter’s on Capitol Hill, where he created a special ministry for Catholic members of Congress.

During this same period, Byrne also served as secretary for pastoral ministry and social concerns for the Archdiocese of Washington for 6.5 years.

Most recently, he was pastor of Our Lady of Mercy parish in Potomac, Maryland.

Byrne is also a columnist and YouTube personality, with his series “Five Things” which highlights “life tips, initiations to prayer or spiritual meditations to help people draw closer to God and appreciate the small – but vital – things in life,” the diocese said in a statement Press. A book based on the series “Five Things with Fr. Bill” will be published Thursday by Loyola Press.

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Tamil Nadu: MP Stalin promises to forgo loans for farm, jewelry and education if he wins the ballot | Chennai News https://medicbuzz.net/tamil-nadu-mp-stalin-promises-to-forgo-loans-for-farm-jewelry-and-education-if-he-wins-the-ballot-chennai-news/ https://medicbuzz.net/tamil-nadu-mp-stalin-promises-to-forgo-loans-for-farm-jewelry-and-education-if-he-wins-the-ballot-chennai-news/#respond Wed, 07 Apr 2021 23:17:39 +0000 https://medicbuzz.net/tamil-nadu-mp-stalin-promises-to-forgo-loans-for-farm-jewelry-and-education-if-he-wins-the-ballot-chennai-news/ CHENNAI: president of DMK MK Stalin Wednesday promised to give up the farm loans, jewelry loans for less than five sovereigns and student loans students if the DMK comes to power after the next legislative elections in Tamil Nadu.
Participating in the Pongal festivities in the village of Natham in the Tiruvallur district, Stalin vowed to give up cultivate and jewelry loans. Subsequently, in a separate statement offering Pongal’s wishes to the people of Tamil Nadu, Stalin added education loans to the party’s waiver pledge.
“The DMK has always stood up for the welfare of farmers. When MGR was Chief Minister and AIADMK was in power, Farmers led by Narayanasami Naidu staged an unrest in Chennai demanding the reduction of electricity costs from a paisa. But the AIADMK government at the time ignored it. When the DMK came to power and Kalaignar (M Karunanidhi) became chief minister in 1989, he passed a law providing free power to agricultural pump units, ”Stalin said in his speech in Natham village.
In the run-up to the 2006 legislative elections, the DMK pledged to forgo cooperative loans, estimated at Rs 7,000 crore. People were skeptical of how this could be done, Stalin recalled. “The first order that Kalaignar signed, shortly after taking office as chief minister in 2006, on the stage where he was sworn in, was to forgo cooperative loans to the tune of Rs 7,000 crore,” he said. declared Stalin.
The Central BJP government has now enacted three agricultural laws, which will affect farmers’ livelihoods. That is why farmers are protesting across the country. “The DMK opposed it in both houses of parliament, while the AIADMK supported all three laws. On Tuesday, the Supreme Court suspended agricultural laws. Although this is only a temporary reprieve and we are not happy with it, when the DMK comes to power this time we will oppose farm laws until they are withdrawn ”, Stalin said.
In addition, when the DMK comes to power, the government will forgo all agricultural loans, regardless of the category of farmers, he said.
The DMK had promised voters ahead of the 2019 LS polls that agricultural loans and education loans would be written off altogether. ]]>
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