Tag Archives: income
Bankruptcy or Bad Credit is No More a Problem For Small Businesses
Small businesses often suffer a bad period of business and lose their credit rating or even go bankrupt in some cases. The owners realize that it not the end of the world. The bad period is normally due to natural calamities and poor business planning. However the worry of the businessmen at this stage of business is to get some capital to run the affairs and try to get out of the problems. Capital is available through Small Business Bad Credit Loans. The problem is the Bad Credit or the Bankruptcy, as most Financial Institutions/Companies are reluctant to grant loan to businesses with Bad Credit or Bankruptcy.
As said that this is not the end of the world. Businessmen in financial troubles coupled with Bad Credit or Bankruptcy have a very lucrative opening for them. Loan facility is available without the consideration of Credit Rating or Bankruptcy, not only this the Payback System is based on agreed Percentage of future sales and receivables from Credit Card payments, a convenience unimaginable by small business owners. Merchant Cash Advance offers the much required Capital to small businessmen in financial difficulties and unable to arrange cash due to being Bankrupt or having Bad Credit, with the option to utilize the cash where they like it, there is no restriction as to how the cash will be used.
Merchant Cash Advance Loans provide some very attractive facilities such as the:-
No collateral is required, thus no loss in equity.
Easy to get approval in a short period of time, a maximum of 24 hours.
Credit Card sales determine the volume of cash required.
Paybacks are based on monthly sales through credit cards. Low the income low the payback, higher the income higher the paybacks.
Payments are so planned that the Credit Card
processing companies are authorized by the Merchant to transfer a percentage of the daily credit card income directly to the merchant cash provider
These facilities provide major advantages over the conventional small business loans. The existing recession in the world economy, bad credit market, low business incomes and increase in the percentage of defaulters, merchant with Bad Credit are having real tough time to meet their cash requirements. Small Business Loans are not available to them. Merchant Cash Advance has proved to be a lifeline for them.
Do You Know If You Qualify For Obama's Federal Loan Modification Plan?
Find out if you qualify for a loan modification under Obama ‘s new Federal plan. This plan offers an unprecedented $75 billion for up to 5 million homeowners who qualify for free assistance. So if you find yourself struggling to keep up with your mortgage payment, if you have made late payments, and especially if you have been fearing foreclosure on your home, learn how this plan can help you keep your home.
Even homeowners who have been turned down by mortgage lenders are eligible for consideration under President Obama’s new plan. Any participating Bank is required to review any borrower who requests their help. Under this new plan, the rules have changed. You do not even need to be delinquent on your mortgage. In order to apply, you simply need to gather the required paperwork to show that you may be at risk. The main thing you need to demonstrate is that you are faced with financial hardship due to your current interest rate, loss of income, or increased expenses.
Here are the basic guidelines to qualify for help. Under the Obama loan modification program, you need to demonstrate:
— that the mortgage is on your primary residence; — that your mortgage payment balance totals $729,750 or less; — that current mortgage payments is over 31% of your gross monthly income (this includes any taxes and insurance); — that your current loan originated prior to January 1, 2009.
To apply, you will need to supply your lending bank with proof of income, and complete the bank’s application forms, where you will detail your income and expenses. Full disclosure is required in order to be approved. Just be sure that your paperwork is complete, once you meet the basic guidelines for approval listed above. The bank reviews each applicant on a case-by-case basis.
The Treasury Department has been encouraging any interested homeowners to gather their required documentation ASAP, since they expect lenders to be swamped by loan modification requests. While the program is free, you will need to take as much time as possible to get all the paperwork together. You want to maximize your chance for approval, so the more complete your documentation, the faster it will go once you start. Millions of homeowners may now qualify for a second chance at getting a lower monthly payments on their mortgage, so you want to take the time to do it right, since so many will be applying. Give yourself the best possible shot at a piece of the Obama loan modification plan.