Question : Bankers out there…are you still approving loans for small businesses and mortgages?
I am at a Small Business Development Center conference right now, and we just went reviewed business plans. Our reviews from the commercial bankers were done before the past three weeks, and we were wondering if the companies that got the green light on projects a month ago would still be likely to get the funding in todays situation if nothing has changed on the borrower’s end (still have a great business plan and 25% down and good personal credit.) Has there been any official policy changes in the past few weeks?
commercial development loans
Best answer:
Answer by GavinBeing a small business owner, you need to pay extra attention to management of financial resources. Since growth of your business somehow depends on its financial position, you should always be cautious about cash flaw within or outside your business. It is quite true that lack of finance can become a big problem in the way of the success of your small business. Since a sapling business face different kind of financial problems, any ordinary loan cannot meet these requirements. For that reason, the borrower needs to find out such a solution that may help small business owners in meeting different requirements of their small businesses. Small business loans are one of those business loans that are specially tailored to meet requirements of a sapling business organization. These loans can meet each and every financial requirement of a going business and can help that business in growing with a faster pace.
http://www.worldbestloans.com/businessloans.htm
Since market is crowded with various business loan schemes, every small business owner can manage to get the desired amount without any problem. Therefore if you own a new and small business organization and financial shortfall is bothering you, then these loans can prove to be the best help for you. These small business loans are simple to get but for getting these loans, should have an approved business plan. This business plan must be working and should be approved from the national corporate body. For getting these loans, the borrower also need to estimate how much finance he or she will require for running his or her small business smoothly. Application for small business loans include purpose, amount and type of loan therefore, if you are looking for any such business loan, then evaluate these terms to get a suitable loan.
“It seems,” Barron’s columnist Randall Forsyth writes archly, “America's entrepreneurs were too busy struggling with their own businesses to read all the accounts in the media about how terrifically the economy is doing.”
When NFIB survey participants were asked what is the single-most-important problem facing their business, a plurality of 29% said “poor sales.” But right behind that…
- 22% cited taxes
- 15% cited “government regulations and red tape”
- 7% cited “cost and availability of insurance” -- as we’ve seen, a government-created problem.
Only 4% cited availability of credit. Good thing we spent billions in bank bailouts to keep the lines of credit open, isn't it?
"Far from being the exception, crises are the norm," writes Nouriel Roubini in the introduction to his new book Crisis Economics. "Crises -- unsustainable booms followed by calamitous busts -- have always been with us, and with us they will always remain…
"The very things that give capitalism its vitality -- its power of innovation and its tolerance for risk -- can also set the stage for asset and credit bubbles and eventually catastrophic meltdowns whose ill affects reverberate long afterward."
Unfortunately, the reforms set in place now -- as is so often the case -- come replete with unintended consequences. Those consequences are threatening the very goose they're intended to save.
[Ed note. As you may know, we’re making a film about entrepreneurs in the wake of the crisis. One of the case studies we’re drawing on is that of the frequently harassed entrepreneur Greg Stemm, founder of Odyssey Marine.
For decades, he and his teams have plumbed the bottoms of the ocean to find and recover treasure left in situ after ships have plunged to their deaths. For their toil, they’ve often been rewarded with the threat of litigation from governments seeking to skim some (or all) of the proceeds for themselves. Greg is also the source of great consternation in the academic world because of his efforts to introduce a "commercial model' to the world of undersea archeology. Heaven forbid the gentleman make a profit!
As you'll see, our film is still very much a work in progress, months away from release… but we’ve captured a small part of the Odyssey Marine story in a seven-minute clip we caught of Stemm and Neil Dobson, one of his archeologists, as they're ogling some coins they'd only recently returned to the New Orleans Mint for a museum exhibit. As faithful 5 readers, you get first crack. Check it out here and let us know what you think, please. Any and all suggestions are welcome at this time.
You'll also note there is an offer for some of the coins Odyssey brought up from the wreck of the SS Republic. That offer comes by way of our ongoing business relationship with First Federal Coin. It's our modest effort to introduce a "commercial model" into the all-too-stuffy world of documentary making. But you should be aware that if, in fact, you choose to take advantage of the offer presented, we're likely to receive compensation.
Otherwise, we’ll keep you posted as the film gets closer to a final cut. Enjoy...]
“Bears are back on their heels,” says Options Hotline editor Steve Sarnoff of this week’s stock market action. The major indexes opened flat this morning on news that first-time jobless claims fell slightly last week. That had the effect of merely canceling out what turned out to be an increase last week (darn those revisions).
Steve offered this pithy summary of the week so far in an alert to readers last night…
- Monday: No follow-through from bulls... stocks lower from resistance on weak economic data
- Tuesday: Another roller coaster day on Wall Street... indecision in the market may signal a turn
- Wednesday: A very strong bounce-back day for stocks as they surge up from key support.
Steve’s been playing the volatility for all it’s worth: As of Tuesday, his recommended puts on Intel are up 159% in six weeks, while his recommended calls on Barrick Gold are up 164% in just three weeks.
His next recommendation comes in 10 days. If you’d like to be on board, here’s where to go.
“The range-bound S&P chart between 1,130-1,040 for most of the last year can set up an optimist for a rally back to the April highs,” says our resource man Alan Knuckman. “That is IF 1,040 holds again on a monthly basis and the next earnings cycle proves corporations can continue to exceed profit expectations. Money is being made to fill company coffers even without an all-around recovery.”
”The shorts have been squeezed many times over the last two years, so it will be interesting to see what happens from these levels again. A little forced buying to close out the summer sales can provide some much-needed support. The stock indexes were down only 1% last week as the low-volume season comes to an end and business gets back to normal, albeit a new, undefined normal.”
The dollar index is pretty much unchanged at 82.4 this morning. Spot gold is back within $10 of its all-time record at $1,250.
“I just started getting your newsletter last week and was dismayed to see you engaged in sarcastic political commentary in [yesterday’s] letter. That's not what I subscribed for. Why don't you stick to investment-related topics?”
The 5: Since you’re among over 10,000 new readers who’ve joined us in recent weeks, we don’t mind repeating ourselves here: We’d be content to ignore politics were it not for the fact that politicians keep finding new ways to meddle with the economy and our investments. We furnished copious examples just today.
Other times the connection is less obvious, so if you’re complaining about our jaundiced observation that the Iraq war has strengthened Iran’s hand in the Middle East, we simply invite you to ponder how an emboldened Iran might drive oil to $220 a barrel in 18 months. You’ll find the supporting evidence here.
“Love your work 5 Min. team -- great stuff," writes another from down under. "Read it over here in Aussie every morning. One rager you haven't talked about is rare earths. Most of the 17 underlying elements have at least doubled this year in price (some up four times). China has increased its export restrictions to 70% (it currently supplies 97% of the world's rare earths), which has lit a fire under the rare earth prices.
“I would have expected a little more than zero media coverage from the Americans considering you need certain rare earths for military requirements plus a whole lot of other key new technologies that everyone seems to deem so important (iPhones, TVs, DVDs).
“The big kicker for rare earths remains green technology, which despite its move to the middle pages of the paper is most likely going to 'rare' its head once you guys stop printing money, take your medicine like a good boy and face the 'depression' front on, rather than letting it ‘rare end’ you.”
The 5: Actually, our resident geologist Byron King’s been thumping the tub for rare earths since early 2008. In fact, he’s speaking at a conference on rare earths in Washington next month. So we’ll have plenty to say in the weeks ahead.
“I find it instructive,” a Reserve reader writes, “that the Obama administration wasn't much interested in Social Security reform until the program started taking money out of the general fund, by selling government paper, rather than buying it. Supposedly, the 'recovery' we are experiencing will change that, but don't hold your breath.
“Frankly, I hope they don't do anything. I'd much rather see government money going to retirees and the occasional genuinely disabled worker than be used to kill Arabs or to lock up people who have grown pot in their basements.
"Besides, the sooner the U.S. dollar goes belly up, the sooner we will be back on the gold standard. It has happened in this country before, after the failure of the Continental Dollar and the elimination of the Lincoln Greenback.
“Yeah, yeah, it will never happen. History never repeats itself, and it is sure to be different this time. In the meantime, keep your bullion hidden, or vault it in Zurich.”
The 5: And readers accuse us of fostering sarcastic political commentary. Sheesh.
Indeed, we can help you store your bullion in Zurich... under the runway at Zurich Airport, to be more precise. Our friend Egon von Greyerz with goldswitzerland.com has access to just such a vault. (If you contact Egon, please let him know Addison sent you.)
We also continue to get good feedback on this unique approach to the creaking Social Security system, the one we call the “other” government-backed retirement program.
Regards,
Addison Wiggin
The 5 Min. Forecast
P.S. How solvent is your bank? Imagine if you could access a document that predicts when a certain bank stock is going to fall. Even better, imagine if you had an expert who could access hundreds of such documents and cull the best shorting opportunities on your behalf. Imagine what you could do with such knowledge. Imagine... here.
