Oh man, where do we start? Not to be the bearer of doom and gloom, but there are some very severe consequences to defaulting on an SBA loan. They can foreclose on your home based; www.hotel-ejecutivo.com, if it has equity in it. They can shut down your business and sell all the business equipment. They can get a personal judgment against you, and subpoena you for information. If you don't respond to the subpoena, in some states you could be arrested. If you didn't pledge your home to start with, in some states they can place a judgment lien on your property that will remain there until you sell the property. In a nutshell, default is bad, and you should be proactive about settling.
Almost anything that your business needs in its day to day operations can be obtained through leasing. You will have the option of deferring payments for different lengths of time. You can defer in the beginning for up to 90 days, or maybe your business is seasonal and when your equipment does not provide any income during a certain time of year, then you can exclude payments for that period of time until your equipment begins to create income again.
A borrower will be asked to secure the loan with some kind of significant collateral. Heavy machinery, equipment loan, inventory, other commercial or residential properties owned by the borrower and even properties involved in the purchasing process can be put as a collateral against the loan.
The expert should work in co-ordination with you. He/ she should be able to tackle your every problem. Negotiate the equipment finance company to ensure you get the best deal. Request references, if you feel like.
All dog groomers should have cotton balls, Q-tips, dog shampoo and ear cleaner on hand. You should have many different types of dog shampoos for different types of situations. Some dogs have sensitive skin, extremely dry skin and/or fleas. They make a wide variety of shampoos for all of those purposes and more. Of course, one of the most useful items would be a dog dryer.
All leasing providers are not the same and they differ in more than just their price quote. Some companies for example, will only work with businesses from a certain industry. They will not work with everyone. So make sure you check the industry they provide leases to before you equipment loans decide to fill out paperwork.
Not having to deal with obsolete equipment. In today's business society, manufacturers constantly upgrade equipment and add new features. By leasing you can always be using the most up-to-date equipment. You also are relieved of the problem of getting rid of an outdated piece of equipment.
Early in my career, I severely damaged my credit because these late payments from clients caused me to be late on my payments to vendors, banks, etc. Finally, after a few years of heartache and overwhelming stress, one of my mentors helped me realize that all I needed to handle the stretch between when I had to pay a bill and when I received payment from a client is a revolving business line of credit.
Keep your focus on qualified prospects and your closing percentage will jump upwards in a hurry. Don't waste time on unqualified prospects. Leave them for your competition.
Almost anything that your business needs in its day to day operations can be obtained through leasing. You will have the option of deferring payments for different lengths of time. You can defer in the beginning for up to 90 days, or maybe your business is seasonal and when your equipment does not provide any income during a certain time of year, then you can exclude payments for that period of time until your equipment begins to create income again.
A borrower will be asked to secure the loan with some kind of significant collateral. Heavy machinery, equipment loan, inventory, other commercial or residential properties owned by the borrower and even properties involved in the purchasing process can be put as a collateral against the loan.
The expert should work in co-ordination with you. He/ she should be able to tackle your every problem. Negotiate the equipment finance company to ensure you get the best deal. Request references, if you feel like.
All dog groomers should have cotton balls, Q-tips, dog shampoo and ear cleaner on hand. You should have many different types of dog shampoos for different types of situations. Some dogs have sensitive skin, extremely dry skin and/or fleas. They make a wide variety of shampoos for all of those purposes and more. Of course, one of the most useful items would be a dog dryer.
All leasing providers are not the same and they differ in more than just their price quote. Some companies for example, will only work with businesses from a certain industry. They will not work with everyone. So make sure you check the industry they provide leases to before you equipment loans decide to fill out paperwork.
Not having to deal with obsolete equipment. In today's business society, manufacturers constantly upgrade equipment and add new features. By leasing you can always be using the most up-to-date equipment. You also are relieved of the problem of getting rid of an outdated piece of equipment.
Early in my career, I severely damaged my credit because these late payments from clients caused me to be late on my payments to vendors, banks, etc. Finally, after a few years of heartache and overwhelming stress, one of my mentors helped me realize that all I needed to handle the stretch between when I had to pay a bill and when I received payment from a client is a revolving business line of credit.
Keep your focus on qualified prospects and your closing percentage will jump upwards in a hurry. Don't waste time on unqualified prospects. Leave them for your competition.