InvestWithPassion.com: Blog InvestWithPassion.com: Blog https://www.investwithpassion.com/blog/ Copyright by InvestWithPassion.com en InvestWithPassion.com Sat, 14 Dec 2019 18:12:13 -0500 Launching a Small Business – 5 Frugal Strategies for Stable Finances Keeping business finances stable is one of the main initial tasks for every new business owner. Since it takes time to get things going, this first period is very challenging. If you don’t stick to some austerity measures, you might drive your business into the ground.

Therefore, rookie entrepreneurs should be extremely cautious with their finances at the beginning of their business journey. We’ve put together several frugal strategies that will keep your business budget under control.

Extremely limited expenditure

Highly limited expenditure is the key to long-term business success. When you’re about to launch a small business, you might not even be aware of all the costs that you’re going to have. That’s why being extremely cautious with your business budget is a must.

In line with that, don’t splurge your money on fancy office premises or glitzy furniture. Save most of your earnings for further investments.

A rule of thumb is to invest most of your capital in growth. If you’re a solopreneur, make sure to pay yourself a salary to keep your personal finances in order, as well. It’s recommended to apply a conservative strategy to this matter. Just pay yourself enough money to make ends meet until your business takes off. What’s more, you’ll spend less money on taxes if you opt for a modest salary.

Strictly committed time

When you’re a small business owner, procrastination isn’t an option.

This might sound a bit harsh, but you should reduce the time you spend on social media. Separate your business profiles from your personal accounts on all such media. When you’re using social media as a business user, follow only your clients, partners, and relevant profiles from your industry.

Apart from that, eliminate all the daily meetings with your friends. During your working hours, your focus should be solely on your enterprise. Only when you finish with all these tasks should you do your private things. If we’re to believe most new entrepreneurs, they don’t have too much free time at all.

Being strict with your business time in the beginning is a huge asset for your future. Therefore, perform your business tasks committedly and you can hope for a successful entrepreneurial start.

Second-hand equipment

Most small businesses have a limited budget in every sense. Because of that, it’s advisable not to spend too many assets on your office equipment. For starters, you can get some used computers for your office. That way, you can equip your office with stronger machines and better configurations at the fraction of a price. Of course, make sure to buy these second-hand computers from a reliable source.

Similarly, second-hand furniture and office decorations will keep a few dimes more in your pocket. But first check out these items in person to avoid buying scruffy or broken furniture online.

Following these two tips will provide you with powerful but affordable computers and decent but economical furniture.

Affordable marketing

Thanks to the Internet, small business owners can promote their ventures in many creative ways. More importantly, it’s possible to do this online without spending a fortune.

For starters, you need to launch a Facebook business page. This should be a rite of passage for every modern small business. Using this social network, you can access a wide audience of potential customers across the globe. Conversely, you can also narrow down your target audience using dozens of different elements in Facebook ads settings.

Also, LinkedIn is the best network for B2B networking on the Web so register your business profile there, as well.

Finally, make sure to launch a user-oriented and visually convenient website. It should generate more customers without investing too much money. Also, launching a business app can generate more business leads, explains the Houston web application development crew.

Thorough and timely onboarding

Small business owners need to minimize their mistakes in everything they do. Every wrong move will cost you and you want to avoid this.

That’s why you shouldn’t hire people as long as you can deal with your workload on your own.

Employing people only to be a big boss is a completely wrong approach to small-business management. Also, it’s an expensive sport, especially if you’re not experienced in onboarding. Most SMB-owners don’t possess the necessary experience in that field. So, it’s better to accept only the projects you can handle alone. Only when you get into the tricks of the managerial trade should you start hiring workers.

Conclusion

Running a small business on a shoestring is a typical story for many new business owners. However, this usually changes as your venture starts making more profits. So, it’s vital to save as much as possible at the beginning to gather enough capital for larger investments in your startup. From limited expenses and full devotion to business to affordable marketing and smart hiring, you can economically grow your business.

Author Byline: Liam Collins is a tech pundit and Web enthusiast working at TuiSpace.com. He spends most of his time reading and writing about the current affairs in the world of information technology. When he isn’t working, he likes going for long bike rides and walks in nature.

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Benefits of Using AWS for Your Cloud Computing Needs Most of the businesses globally are shifting their IT infrastructure to the cloud due to the full range of benefits it offers, including accessibility, cost-effectiveness, efficiency, safety, and improved productivity. It is a trend that has been growing rapidly in the last few years and doesn’t seem to be slowing down. No business wants to operate or own servers anymore as cloud computing does the same job better and at a lesser price.

AWS or Amazon Web Services is one of the most preferred cloud computing services in the world today, preferred by many leading organizations globally. Even though AWS is reasonably priced, hiring an AWS professional can further help in defining AWS cost reduction strategies to save money and improve business profitability. If you haven’t started using AWS already, here are the few benefits you need to know about. 

Comprehensive

AWS has made it easier for its customers to migrate from onsite data storage to its cloud. With millions spent on training and education, AWS has in-depth tutorials, videos, and documentation on its platform that layouts the stepwise procedure to follow to move your data onto the cloud. There is also a partner network that AWS has been able to build in the last few years with which you can collaborate to make the transitioning process seamless, faster, and error-free. 

Flexibility

AWS offers unprecedented flexibility to its customers in the form of how they want to move, process, and store their data. Whether you are shifting to AWS for the first time or switching to Amazon Web Services from another cloud service, AWS has procedures in place to make sure your IT infrastructure is well-optimized and secure. Amazon Web Services ensures that the customers can scale up and down their requirements as per their business needs. 

Security 

AWS is amongst the most trusted cloud services in the world and adheres to strict security protocols and compliances to ensure the data of the clients is safe. The concerns of the businesses of data leaks and privacy breaches are not unfounded. However, AWS is continually upgrading its system as new technologies enter the market to ensure complete safety and security of the data it manages. 

Enhanced Productivity

Maintaining your IT infrastructure onsite can be daunting and expensive. Keeping the same on the cloud with AWS saves your company a considerable amount of time and money as it reduces the operational cost and the need to hire full-time IT support staff. In the long-term, it can prove to be cost-efficient for the company to move its IT infrastructure to AWS.

Innovative

AWS is driven by passion and innovation, and it is what has been inspiring more and more organizations and companies to choose AWS. The company has been innovating and revamping its services by adding new features and services year after year since its launch to provide customers with great benefits and better services. It is this dedication to innovation and commitment to excellence that has helped AWS became one of the leaders in the cloud computing arena. 

The pricing of the AWS services is already competitive, and hiring a certified AWS professional can further cut down your cloud computing cost. Consult with an AWS professional to know how AWS can help your business and what AWS cost reduction strategies can be implemented to bring down the AWS cost to fit your budget. 

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How to Find a Reputable Commercial Lender for USDA Business Loans The loan guarantee provided by the United States Department of Agriculture (USDA) to business owners in rural communities can significantly help in growing ventures and reviving economic activity in the area. The funding can be utilized for numerous business purposes, thereby giving entrepreneurs enough freedom to do what is necessary to improve their ventures. 

USDA commercial business loans have strict eligibility requirements for borrowers. For one, the company should be in a rural area with a population of less than 50,000 people. Since commercial lenders are the ones providing the money, the borrower should also have a solid personal credit score and steady cash flow. Collateral and personal guarantees are also fundamental requirements for USDA business loans.

If you think that your rural business meets the requirements for USDA business loans, the next step will be to find a reputable financier. Considering that numerous commercial lenders offer this government loan, you should consider the following factors when searching for the one whom you can entirely rely on:

Experience and Expertise

As mentioned above, loan guarantees provided by USDA have specific and strict requirements. Considering its complexities, you should partner with an institution with experience and expertise in handling this financing program.

Instead of relying on the first commercial lender that knocks on your door, you should take the time to search for one that exclusively handles USDA loans. Such a lender will have the experience and expertise in working with the USDA and in navigating the system to ensure you get a suitable deal.

Client Feedback

The best way to assess the reliability of a commercial lender is by checking customer reviews. You can do a quick search on the internet for testimonials and feedback on the lending company you are considering. Apart from delivering results, take note of how the institution is treating its business partners. You need a partner who will help you every step of the way and not just wait until you pay the loan.

Interest Rate

Considering that the interest rate will be the determining factor on how much you will end up paying for the USDA loan, you must ensure that your lender is offering competitive interest rates. Note that while the lending institution will be the one to determine this figure, the USDA sets maximum standards to ensure that the commercial lender will not go overboard.

As you try searching for a reputable lender, consider the interest rate quotation of each one. It is advisable to create a spreadsheet that will allow you to easily compare interest rates, monthly payment dues, and other miscellaneous fees. Make sure, however, that the numbers follow the same standard for accurate comparison.

Payment Schedule

Find a lending partner that offers flexible payment terms that will fully satisfy your financial requirements. Make sure to inquire if you will be required to pay substantial penalty fees for overdue payments or if you will get any allowance. Keep in mind that the USDA business loan is supposed to move your company forward; not hold you back with debt.

A credible commercial lender will be your partner in managing your business finances and in achieving your company goals. Given its role in the success of your venture, you should take the time to assess the factors mentioned above so you can find a financing institution that you can fully trust.

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Reasons You Should Invest In Gold Are you thinking of investing in gold and wondering about the gold price predictions?

Gold has a history that is unlike that of any other metal.

For thousands of years it has been placed on the heads of kings and queens, used as a currency and standard for global currencies, it has been the prize for champion athletes, and the list goes on.

What makes gold so valuable are its actual physical and chemical properties that make it the most malleable and ductile of metals. Add to that its aesthetic appeal, and you have an undeniable store of value. Below are a few reasons why you should consider including gold in your portfolio.

  1. Gold is a tangible asset

With gold, you have not only a tangible but strategic asset that is considerably more secure than any of your other assets. Most other assets, such as real estate will always be at the mercy of the elements, and as such, they are always at risk. Bank accounts can be wiped out by hackers. Gold, because of its nature, will give you peace of mind and the security that other asset classes simply cannot.

  1. It adds diversity to a portfolio

Gold allows you to diversify your portfolio by adding a tangible asset that can protect you from volatility because the factors that affect the returns of other asset classes both on a macro and micro-economic level do not significantly affect the yellow metal. Thus for the given returns from a portfolio, adding gold can help reduce risk.

  1. Can be a hedge against inflation

Gold has an inherent value that it has retained throughout the years, and this makes it a great store of value,particularly in inflationary environments.  As inflation rises and currencies continue to weaken, having gold as part of your portfolio means the value will be retained when other asset classes are recording losses. And with gold price predictions looking favorable at present, this may be a great time to invest.

  1. Gold is a scarce metal

Another reason that adds to the value of this precious metal is its scarcity. Estimations on just how much gold exists vary but the number is comfortably over 150 000 tons with speculation that the world would run out of mineable gold by the year 2035. That certainly is something that will help gold retain its value.

  1. Gold can provide liquidity

Unlike with most other assets such as real estate, gold investments can be liquidated considerably faster when gold price predictions are up. The advantage that gold has, except for sovereign bonds, is that it has no lock-in period like most other assets. For physical gold, the redemption amount will depend on its purity and other market factors, whereas for paper gold, the market price on the redemption date will determine the amount.

Investing in gold is a solid move

Finding a sure store of value is something that most people desire. The world of today constantly goes through troubled economic times and people are always on the lookout for ways that can cushion them against the next financial downturn. Gold is one such way that can be used to hedge against the volatility in the markets. Having been around as a store of value for thousands of years, it is unlikely that its status will change shortly.  If not for anything else, the diversity it will add to your portfolio is recommended. 

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Why You Need a Payment Processor Payment processing is crucial in the world of nonprofits. Therefore, whether you run a local organization that caters to a few thousand or a national organization, your team must be in a position to accept donations from various places.  That's why you need a reliable nonprofit payment processing system from companies such as Acceptiva.

Remember, donors should be able to reach out to their preferred organizations through their favorite means. Those means could range from a cash or check to debit and credit card. If your nonprofit isn't ready to accept donations through one of those ways, you'll miss out on valuable resources from supporters. Here's what you should know about payment processing.

What a Payment Processor Does

A payment processor is an organization that handles your online transactions. Therefore, payment processing deals with donation transactions between your donor's bank and the organization's bank. You need a nonprofit payment processing for your organization to accept online donations anytime and virtually anywhere worldwide.

Moreover, you can use a processor to sell merchandise such as bottles and t-shirts. A payment processor will prove useful when it comes to the collection of membership fees. Members can conveniently pay their annual or monthly fees online, giving them a huge audience.

Payment Processing

This term refers to all the backend steps that take place once donors begin a virtual transaction with a nonprofit. It encompasses the entire transaction process from the time donors submit their information until the donation reaches your nonprofit's account.

Similar to other organizations, nonprofits depend on a steady revenue flow to maintain its operations. You need some type of donation tools online and nonprofit payment processing is necessary for changing that online support into actual revenue.

You must consider the intricacies behind tracking and processing your organization's recurring contributions. Understanding how the transactions are processed and recorded will be vital if you need to alter your donation app or shift to a new platform. Moreover, processing your donors' personal information, and gifts is a necessary part of appropriate stewardship practices today.

Factors to Consider When Accepting Online Payment for your Nonprofit

Security

When donors make payments online, they'll enter their address, credit card number, and other billing information. You must ensure the connection is HTTPS, and the company handling the customer information is secure. If you opt for a less-known company, ensure they're secure with donors' data.

Branding the Payment System

Sustaining your brand during the donation process is vital. If your donate button, for instance, takes users away from the site, their trust levels might decrease. You want to maintain the feel and look of your website throughout the checkout process. Moreover, you want to ensure there's secure hosting.

Ease for Users and Compliance

Whichever solution you select, you want one that's seamless and easy for the accounting team and donor. Bear both parties in mind when setting up your nonprofit's credit card processing. 

How to Select the Right Payment Processor

Understanding the factors to consider when selecting a payment processor for handling your online donations is very crucial. Some of the aspects to consider include:

Contract Terms

Numerous payment processors have stringent restrictions or terms associated with the services they provide. Therefore, you must read the fine print before proceeding with any type of service agreement.

Customer Support

Numerous processors only provide a restricted degree of customer support as a normal offering. Some even charge for extra support. You must also find out whether customer service takes place mainly by ticket submission or email.

If you're seeking a reliable payment processing solution for your nonprofit, it's time you invested in one to reap the associated benefits.

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An Unconventional Investment Channel

Investing your hard-earned money is just as hard as earning and saving it for good reason. With the increasing cost of living these days and the increasing number of expenses to think about and pay for, it is hard to set aside and save a part of your salary for savings and investments. Because it is not such a walk in the park to save up a pretty good value to start investing with, you should really be careful and choose wisely on which investment channels and platforms you would like to place your money in. You would not want to lose your money, right? With all the different types and forms of investment sprouting every now and then, what exactly is the best way to invest money? In essence, you would want to invest somewhere that would allow for your money to grow in value, so you might think that investing in something that just depreciates in value over time is definitely out of the question. But with the current trend in this fast-paced world we live in right now, that is where you just might be wrong.

Need for Speed

In the United Kingdom, almost all households have a car to drive around with. When you have a car of your own, you can travel more freely and in more comfortable overusing public transport. Most people of age in the UK have a driver’s license, but it does not necessarily mean that they own a car for the simple reason that it is not always affordable. This holds especially true for people who have a bad credit rating. No matter how much they would like a car to use for their own convenience, it may be nearly impossible for them to take out a car loan, and simply just hard to lease one out. That is where you, as an investor, come in.

Buy2LetCars

Buy2LetCars is an investment company which was established in 2012 in partnership with Wheels4Sure. These two companies offer solutions to investors and individuals who were greatly affected by the 2008 banking crisis. Buy2LetCars was set-up for investors who are having a hard time to look for reliable investment channels which would give a reasonable rate of return for their money. While Wheels4Sure, as a partner company, provides individuals with the opportunity to have a car of their own regardless of their credit standing. When you invest with Buy2Let Cars, you would be investing in the car units that would be used to lease out through Wheels4Sure. Since there is a high demand for cars as a deeply sought out mode of transportation in the UK, it is a wise investment to make regardless of the depreciating value of cars.

Monthly Income

Investing with Buy2LetCars means that you will receive a monthly income immediately after you have chosen to invest with the company. A typical investment will run for three years, the same amount of time a lease term would also run. If for example, you have £14,000 to invest, you would be investing in a single unit, or one car, to be leased out to through Wheels4Sure. In a span of three years, your £14,000 would be returned to you along with a total gross gain of £3,079.72 with you just doing absolutely nothing. Each month for three years, you would get a monthly payment of £250, and on the 37th and final month, you would receive a gross monthly payment of £8,080 where the interest rate of return per annum at 9% IRR is already included. The beauty in a monthly pay-out is that you would be able to use the money immediately on urgent matters, living expenses, or maybe even on new investments that would allow for your money to grow even more in value.

Passive Income

With Buy2LetCars, you do not have to manage the investment on a day to day basis like with other investment channels such as placing money in the stock market. Buy2LetCars will have full control over your investment, but you do not have to fret about it because, in the case of bankruptcy, you are guaranteed to get at least 85% of your original invested value. This also means that you would easily earn monthly on a monthly basis without having to lift a finger or think about any decision that would allow your money to earn an average of 7% to 11% IRR per annum.

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Hiring the Right CPA Has Everything To Do With Moving Your Business Finances Forward How do you know you have hired the right accountant? What prompted you to hire one? Perhaps your business has grown, and you're thinking about your balance sheet and taxes. That's a good start, but there is much more on your plate than that. You want to make sure you have reached out to the right CPA, one who is experienced in helping professionals get in complete control of their finances.

You may or may not have debt to manage, and do you have your child's college education to plan for? Do you plan to buy a home? As a self-employed individual, how are you doing when it comes to saving for retirement? The more you build, the more difficult those numbers are to crunch. All that planning takes time, too, and that's why people reach out to certified public accountants.

When hiring an accountant, you need to be sure that you have selected a professional that is going to cater to your needs; each penny counts! Check their website, like that of https://ramonortegacpa.com/ for what their specialties are to make sure they are a right fit for your situation. Experienced accountants know how to provide the right guidance so that you're making the most of your financial situation. Each individual's financial picture is different, and you want a CPA that is going to listen to your needs and help you plan your path forward.

There can be a rather big difference between accountants and CPAs. In this case, you're looking at hiring a CPA, so what you're going to get is a super accountant. These professionals address every aspect of your business and your personal financial situation. If you want to explore every nook and cranny of business growth, taxes, savings goals and more, you need a CPA.

A regular accountant might not cover all of those bases according to your expectations. You want to get your money's worth. The truth of that matter is that it's not about what you pay the accountant. It's about everything he or she does for you to save your business money and help you manage your company finances appropriately.

Taxes can be a complicated matter to be sure. When you hire a CPA, you're saving yourself the time having to deal with all of that. You could pass the buck to an employee at your company, but if that person isn't a CPA, well, that might not work out too well. With a certified public accountant hard at work for you, you're going to know that your financial situation is as good as it gets.

You do have to pay more for a CPA than a regular accountant. But you can sit down for a consultation with one of these professionals to discuss your financial situation. They are well versed in getting to the meat of the matter, discussing your needs and working out a game plan. If you want one of the best financial professionals helping you organize your business money matters, then you have made the right decision. Find the best CPA in your local area so that you can get down to business.

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Investing overseas – knowing the impact of currencies Never have we lived in a time so rife with opportunity. The internet has connected us all and made the world a global place. For decades, investors have focused on opportunities domestically. However, in the 21st century, the best ones can often be found abroad.

For evidence of this, look no further than Alibaba. In 1999, Jack Ma set out to create the ultimate B2B marketplace. He succeeded in creating an easy-to-use platform that connected importers with Chinese manufacturers. Today, Alibaba has a valuation of a half-trillion dollars. Don’t you wish you got in on the ground floor of this business?

Nonetheless, overseas investing comes with risk. Dishonest operators, shifting laws, and corrupt governments are just a few that come to mind. However, few consider the impact of currency exchange rates.

It wasn’t until the Brexit vote that many began to take this issue seriously. Within seconds of news anchors calling the 2015 referendum for “Leave,” GBP/USD fell by more than 10%. While this example may be an extreme one, it illustrates the need to understand foreign exchange before investing overseas.

In this article, we’ll show you what you ought to keep in mind.

Obtaining the best rate can maximize the value of your investment

In all forms of investing, maximizing ROI is the name of the game. Most focus on output, for obvious reasons. However, if you can minimize what you pay to acquire an asset, you can scale your return exponentially.

Most investors do this by driving a hard bargain in the boardroom. When conducting international deals, though, it pays dividends to keep a close eye on exchange rates.

Here’s why. If you rush a deal, you might miss a currency movement in your favor. Let’s say you just acquired a widget company in Taiwan. Two days later, their central bank releases a bad news employment report. For a brief moment in time, the value of the USD jumps 1-2%.

If you had a limit order in place, it would have triggered at your desired price. Let’s say you agreed to buy that Taiwanese widget company for 91 million TWD. At current rates, that’s worth about 3 million USD. Had the funds been transferred during the 2% flash crash, though, you would have only paid 2.94 million USD for a savings of 60,000 USD.

To determine the best buying opportunities abroad, however, you need to know where your dollar goes furthest. To find the best foreign exchange rates today, we recommend checking out MoneyTransferComparison.com. Every hour, they offer the most current prices for common currency pairings.

An unexpected drop in currency rates can erode or wipe out profits

Not being vigilant about Forex market movements won’t just cause you to miss opportunities. If you’re not careful, it can tear a chunk of flesh off your bottom line.

Let’s say you’re in the process of investing 10 million USD in a Polish steel mill. You reach an agreement in principle to purchase a 33% share in their operations. After closing the deal in Krakow, you’re tipsy from a few pints too many. Given your state, you decide to set up the transfer tomorrow.

After sleeping for a solid eight hours, you turn over in your hotel bed and flip on CNN International. The effects of the Trump Trade War have begun to take effect at the worst possible time. While you slept, plummeting profits caused USD/EUR to crater 10%. Yesterday, USD/EUR stood at 0.8966. Today, you stare in shock as that number languishes at 0.8069.

To complete the deal, you’d then have to send over 11.2 million USD. How much is 1.2 million USD worth to your business?

The returns of international investing are worth the risks

The scenario mentioned above is one that’s keeping many CFOs up at night lately. Thanks to Trump Administration policies, it now appears a recession, a bad recession, is likely.

So, why risk investing internationally? Because, in the long run, that’s where virtually all significant moneymaking opportunities lie. As lucrative as America’s consumer market is, we’re largely tapped out as a nation. Nearly 80% of us live paycheck-to-paycheck. Just under half of Americans earn less than 30,000 USD per year.

In short, it’s getting tougher to scale a business domestically. Yes, it’s true that most nations lack our collective buying power. However, the theoretical upper limit of the international consumer market is measured in the BILLIONS.

Globalization has lifted much of the developing world out of poverty over the past 20 years. These people, for the first time in their lives, have disposable income. And increasingly, they have payment methods connected to the internet.

In other words, don’t pass up on amazing international deals due to short-term recession fears. Do so, and you’re leaving money on the table. If you fail to pick it up, someone else will.

Your broker’s exchange rate is NOT the REAL exchange rate

So, you’re about to pull the trigger on an international opportunity – great! Hold up for a second, though – is this is the first time you’ve invested abroad? If so, there’s something we need to tell you.

You know how some brokers offer 0% commission? It’s a ruse. They make their money back (and then some) by charging exchange rates that differ significantly from the REAL one. Many brokers have margins as large as 5% versus the interbank rate. The interbank rate is the wholesale rate banks use to trade with each other.

Let’s say you’re about to make an investment of 100,000 EUR in a Berlin tech startup. You just got off the phone with your local broker, who quoted you a USD/EUR rate of 0.8495. Before calling back to confirm the order, take a second to weigh your options online.

International money transfer firms like Currencies Direct offer rates MUCH closer to interbank. By checking with them, you get a rate of 0.8915. Let’s crunch some numbers: through your broker, you’d have to send 117,716 USD. But with Currencies Direct, that amount shrinks to 112,170 USD.

You can do a lot of good with 5,000 USD in an SME. Don’t underestimate the power of saving money through low-cost money transfer providers.

Those who neglect the gyrations of Forex markets do so at their peril

Business has gone international in the 21st century. As such, you can no longer afford to ignore the impact currency markets can have on your investments. By listening to the guidance of experts, you can avoid making critical errors when transferring funds internationally.

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How To Get Life Insurance For An SBA Loan

A few months or years into your first or second job, you realize you realize that you want more independence. So you start brainstorming, and you come up with a business idea, but now there is a problem. You do not have enough capital, and so you need to apply for a Small Business Administration (SBA) loan.

Many people find themselves in such a situation, and many have benefited from SBA business loans. If you are thinking of getting an SBA loan, the first thing you need to do is to get life insurance. This is because it is mandatory to have life insurance so that you can get approved for an SBA loan.

Why life insurance is necessary when applying for an SBA loan

Contrary to popular belief, the SBA is actually not a loan provider, but it does collaborate with banks and other financial institutions to make sure that people have access to loans for small businesses. The SBA makes sure that the loans are guaranteed and provided with competitive and flexible terms. The fact that the SBA guarantees business loans means that it backs a significant percentage of the loan.

Lenders benefit from the SBA backing because it means the loans because the risks are significantly reduced, especially if the borrower fails to pay. The SBA also tries to make sure that it reduces the risks on its side by doing some due diligence to determine the likelihood of success. This includes requiring information on how the business will be managed, whether individually or jointly. 

Most small businesses are operated individually and are also known as sole proprietorships. This means that the performance of the business is purely based on the performance of the sole proprietor. This means that the health of the business owner plays a key role in the success of the business. This is why it is important for the business owner to have life insurance coverage.

Life insurance for SBA allows the lenders to lower the risks involved in lending, and so this requirement is a measure that allows the lenders to protect themselves. A life insurance coverage is supposed to provide enough funds to offset the loan in case the borrower meets his/her demise before clearing the loan repayments.

Borrowers have to secure a life insurance coverage whose insured sum can cover the business loan. The borrower must, therefore, highlight the lender as a recipient of part of the life insurance payout or the entire payout. 

Understanding collateral assignment

If you are thinking about applying for a life insurance coverage, then it is important to understand the concept of the collateral assignment. The latter refers to a concept or process through which the borrower picks out the lender as the main beneficiary of his/her life insurance payout but not the only beneficiary. Collateral assignment, therefore, allows the borrower to include the lender in the beneficiary list while also allowing other individuals to benefit.

In case the borrower decides not to include collateral assignment, the lender might still receive the total payout of the remaining amount that the borrower may not have cleared. However, borrowers should pick out and fill a collateral assignment form from their insurer.

The duration of the life insurance policy

It is best to maintain the life insurance policy during the period of loan repayment. It is always a good idea to consult with your loan provider so that you know how long the loan repayment duration will last. This will also help to determine how long you should maintain the active status of your life insurance coverage.

Failure to keep up with your life insurance coverage premiums, especially before you finish your SBA loan repayment might be a huge inconvenience. This is because the lender may conclude that you have defaulted on the loan and therefore request full payment of the principal balance. The borrower also has the option of retaining the life insurance coverage even if they finish paying their loan. The insurance coverage may still be helpful in the future because your family can benefit financially.

The lender often requires various aspects or guidelines to be met before issuing the loan, as indicated below.

  • The death benefit that is highlighted under the life insurance policy should be covered by the outstanding principal amount of the applied loan. It should also continue to cover the outstanding amount during the remaining loan period.

  • The loan shall only be issued when there is an active life insurance policy on the business owner.

  • The business owner should make sure they fill the collateral assignment document before the loan’s approval.

  • The loan repayment duration should not be longer than the duration of the life insurance policy.

The loan application will likely be denied if any of the above conditions are not satisfied. The loan applicant needs to follow the right steps to make sure the whole process is successful. They must first have the right information, such as the exact loan amount that they require and the time frame during which they expect to have paid back the loan.

The borrower should at least try to secure a life insurance coverage a few months in advance before applying for a loan. This is because it takes some time for insurance companies to activate life insurance coverage. The process from application to having an active life insurance coverage might take 4 to 6 weeks. This is not ideal for anyone that might be in urgent need of a loan.

The application process requires the applicant to go through medical examinations and release of records. The applicant is also required to provide some vital data such as the identities of the beneficiaries and contact information. As noted earlier, the collateral assignment is also a key part of the process. 

Once the underwriting is done, and the life insurance policy is active, the borrower is now tasked with keeping up with regular payments. Fortunately, the parties involved, including the insurance company and the lender try to make it relatively easy for qualified applicants to secure SBA loans.

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Uncategorized https://www.investwithpassion.com/blog/how-to-get-life-insurance-for-an-sba-loan/ https://www.investwithpassion.com/blog/how-to-get-life-insurance-for-an-sba-loan/ Editor Fri, 01 Nov 2019 11:47:40 -0400
Everything You Need to Know About Tenant Representation Brokers Home to numerous historical landmarks and different world-class facilities, Philadelphia is a city worth beholding. With the city’s enormous population and thriving economy, people are inclined to open up new businesses in the area.

There are several reasons that make Philadelphia a great place to start one’s own business. That includes the fact that it’s easy and straightforward, and the city has a skilled workforce.

If you are a part of the growing number of people who want to start their business in Philly, consider getting a tenant representation broker.

Brokers are a great asset when starting a new business as they help you save on time and money while also getting the best deal available. You can easily find one from the long list of brokers in Philadelphia. However, if you’re still unsure about getting one, here is everything you need to know:

What are Tenant Representation Brokers?

These representatives handle the tenant side of commercial real estate transactions. Their job is to help companies throughout the leasing process, which include the assessment of spaces, selection, lease expiration, and so on.

Starting your own business comes with a lot of responsibilities, and brokers take an extra load off your plate by handling everything related to your lease. Finding the best office space for rent Philadelphia has to offer is a full-time job and requires a lot of effort. That is what brokers will focus on so you can give your attention to other essential business matters.

What Do They Do?

Instead of looking for a place on your own and going through the process of negotiating and filling out forms, a tenant representative broker will do all that for you.

It sounds a bit easy when it’s put that way, but there are so many factors that come with renting or leasing. Here are a few things that a representative will help you with:

Deciding on the Place

You might be one who is looking for an office space for rent in Philadelphiaor you’re deciding to renew the lease on your current office. Either way, a broker will help you determine the best possible move.

If you’re an amateur in the industry and looking for your first office, a representative will make it easier to find the best space for your business. They will handle the negotiations and the assessment of the place, and then determine the pros and cons of the office that you’re eyeing.

On the other hand, if the lease for your rented space is about to expire, brokers will help you decide if you should renew or find a new office.

Can your current place handle all the operations of your business and your entire staff? Does it serve your business well, or do you need a new and better place? Representatives become your counselor with these types of matters and can help you make these big decisions.

Securing the Office

When you have finally found the office of your dreams, brokers can help in ensuring that you get the place at the best possible price.

They will write the letters of intent, review your lease, negotiate, and stay up-to-date with the current market. They will handle every process of acquiring the office you chose, so you will not have to break a sweat about it.

Assisting with the Lease

When you have finally secured the office that you want, representatives do not just leave after that. They will continue to help you throughout your entire lease.

It’s a broker’s job to handle any problems you might face with your lessor or landlord. If you want to make any renovations and expansions to the office, a tenant representative will also help you handle it.

These are some of the perks that come with having a broker, and they are undoubtedly a big helping hand in minimizing the stress and jitters of owning a business. The best course of action right now is to find a broker that you can trust so you can run your business as you see fit.

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Uncategorized https://www.investwithpassion.com/blog/everything-you-need-to-know-about-tenant-representation-brokers/ https://www.investwithpassion.com/blog/everything-you-need-to-know-about-tenant-representation-brokers/ Editor Thu, 31 Oct 2019 11:56:15 -0400
The Future of Stocks Lies with Algo Trading In recent years, everything seems to revolve around automation. We rely on supercomputers and the accuracy of their output. An industry that recently joined the tech bandwagon is the stock market.

Algo trading is slowly penetrating the industry. It is a new type of strategy powering trading systems and quickly outpacing our traditional investment processes. Algorithmic trading harnesses the power of AI to return reliable instructions used for predicting market volatility and possible gains.  

What is algo trading, and how does it help businesses?

This new type of automated trading systems is commonly used by industry staples, including investment banks, hedge funds, pension funds, and mutual funds, among others. This trading technique has been continuously gaining traction because of its power to provide accurate results based on its pre-programmed codes. 

Algo trading, though, is more commonly used by companies. This is because big companies can invest in expensive colocation and quantum computing. A business wanting to get the edge also has the means to acquire a various mechanical advantage to gain an edge in stock trading. 

The harder a data set obtains, the higher the price. And not a lot of people (even long-time traders) will have the capacity to take advantage of them.

Though it might be seemingly attractive, individual investors would instead save on processes and manually calculate the stock market’s performance. But there is the power behind algo trading, which gives traders the benefit of speed, cost reduction, and accurate data presentation.

Reshaping the stock market with algorithmic trading

Timely access to valuable market intelligence provides traders with the decisive capacity to execute trading judgments. And because the stock market is a highly volatile environment, formulating the right decisions equate to wealth creations and capital appreciation.

More and more traders rely on the high-speed information gathered from reliable networks. Algo trading is becoming the future of the stock market because of its high reliability and swift generation of trading decisions.

Algo trading is an emerging technology used by firms and stockbrokers. It uses pre-programmed trading information, with important market variables and analysis. This includes price variances, investment volume, and time constraints.

Speed is a crucial component of successful trading. Furthermore, access to trading information can help in decision making. With the help of this technology, you may have the edge over your competitors.

Why you need to join the algo trading hype

Deductive reasoning dictates that firms and traders who would like to harness better trading power need to enter these advancements. Not only will algo trading increase their knowledge in real-time, but it also gives them a higher capacity to modify their strategies to ensure success. 

This high-level automation technique is paving the way for the future of the stocks as we see more and more improvement in the years to come. Additionally, this precursor is a viable way of increasing the performance of your stocks and provide you with the power to act fast when volatility hits your market share.

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Uncategorized https://www.investwithpassion.com/blog/the-future-of-stocks-lies-with-algo-trading/ https://www.investwithpassion.com/blog/the-future-of-stocks-lies-with-algo-trading/ Editor Fri, 25 Oct 2019 05:05:48 -0400
Doing Business in Massachusetts: Important Things You Should Consider Before Buying Commercial Insurance Massachusetts has a thriving business ecosystem that supports startups and allows them to flourish.

Today, there are roughly 600,000 small-sized businesses all over Massachusetts. This is extremely beneficial as members of the community prefer buying from local businesses.

This helps create an environment conducive to new businesses. The success achieved by large and small businesses in the state has contributed to its increasing economic growth.

If you plan to start a business here, you have to consider a couple of things before you begin operating. First, you have to look for a provider of commercial insurance MA. Next, you have to scout for strategic areas to position your business. You also have to check the requirements for new businesses, your target market, the human resource pool, etc.

While all of these business considerations are equally important, selecting your commercial insurance requires extra attention too. To help you decide what commercial insurance firm to work with, here are essential considerations that you should check.

State-Required Insurance Policies

While the business insurance you need depends on the kind of business you have, there are general guidelines to observe. First, check if any of your loans or contracts require you to subscribe to a specific type of insurance.

  • General Liability: This is required by the state government or by the institutions you work with as protection in case they cause damage or injury while working with you.
  • Workers Compensation: This is also required by the state to protect your workers if they obtain work-related injuries. It’s only needed when you go beyond the number of employee limits.
  • Property Insurance: Banks require this insurance to hold your mortgages. In case you rent a commercial space, the landlord may require you to get this type of insurance.
  • Commercial Umbrella or Excess Liability: This insurance requires vendors you work with to cover more significant losses that may go beyond the limit of your existing insurance policies.
  • Commercial Auto Insurance: The state requires businesses operating commercial vehicles to get this insurance.

Extra Coverages

After determining what kind of commercial insurance works for you, check the extra coverages that may give your business more advantages. When you search for commercial insurance in MA, check out these common types of additional coverages.

  • Professional Liability: This kind of coverage will take care of your business in case you get sued for business-related mistakes. Professional liability, for example, applies to print companies, architects, doctors, and lawyers.
  • Employment Practice Liability: This kind of extra coverage will protect your business in case legal actions come to play. Examples of these legal actions are wrongful termination, discrimination, and harassment.
  • Directors and Officers Liability: This will protect the board of directors of the company against work and company-related allegations.

Cost of Commercial Insurance

The cost of commercial insurance will depend on certain factors, such as the business type and level of risk exposure. A king crab business operating in the Bering Sea is riskier compared to the ice shop downtown. To pay less for commercial insurance, you have to minimize your business’ risk exposure.

Insurance agents use an insurance checklist to assess the risks that their clients’ businesses face. This checklist acts as the basis of the coverage that you should purchase. Some items on this checklist include the following:

  • Business Type
  • Employee Number
  • Gross Receipts
  • Size of leased or owned properties
  • History of claims
  • Numbers of Vehicles
  • Safety Programs

Now that you know what crucial factors to consider in buying commercial insurance for your Massachusets business, it’s time to look for a reliable insurance provider. Use the checklist provided above to compare policies and coverages offered by different insurance providers.

Your newfound knowledge will not only get you the best policies; it can also protect you and your business’ interests.

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Uncategorized https://www.investwithpassion.com/blog/doing-business-in-massachusetts-important-things-you-should-consider-before-buying-commercial-insurance/ https://www.investwithpassion.com/blog/doing-business-in-massachusetts-important-things-you-should-consider-before-buying-commercial-insurance/ Editor Mon, 21 Oct 2019 02:50:23 -0400
Life Insurance for Seniors, Best Product Options

The older you get, the more expensive and difficult it becomes to get a life insurance coverage with preferred terms. However, that does not mean that it is impossible to get coverage. While people above the age of 60 have fewer or limited life insurance options than younger folks, there are plenty of options sure to fit any needs.

There are three basic options when it comes to life insurance:

  • Term Life Insurance

  • Guaranteed Universal Life Insurance

  • Whole Life Insurance

Term Life Insurance

Term Life Insurance is the most affordable and most effective life insurance for seniors. It stands out because it offers the most coverage at the lowest price. It is also the best when it comes to seniors buzzing with good health.

In contrast to other life insurance coverage, it provides coverage for a specific number of years, which usually ranges from 10 to 30 years. Depending on how old one is, an insurance company can insert a limitation on the number of years on the term plan.

When comparing life insurance quotes, make sure to verify which type of coverage the quote is for. 

Under Term Life Insurance, there are three basic options:

Level Term Life Insurance

This type of term life specifies the amount of premium one would have to pay as well as the level of the death benefit. For instance, a 15-year term policy with a $150,000 death benefit would most of the time come with identical premiums for each year over the term life. Beneficiaries would also receive $150,000 in case of the death of the insured.

Should the policy expire, an insurance company is not mandated to issue any cash value. However, there is an option to renew and extend coverage.

Convertible Term Life Insurance

Once a convertible Term life Insurance expires, the insured can convert the policy into a permanent insurance plan coverage. Conversion 

can be done before the policy expires or before age 70.

Annual Renewable Term Insurance

This a term life insurance that is renewable every year and beneficial to people who need coverage for a short period, such as five years. It tends to be more expensive.

Guaranteed Universal Life Insurance

Guaranteed Universal Life insurance is a type of life insurance that comes with some guarantees in addition to offering permanent coverage without time limits. Unlike Term Life Insurance Policy, GUL premiums remain constant throughout the policy period.

 It is also a much reliable and dependable form of life insurance as it is not dependent or affected by developments in the financial markets. The fact that it is not prone to fluctuations allows policyholders to enjoy constant and predetermined premiums.

Guaranteed Universal Life Insurance also stands out in part because there is always a death benefit regardless of when the insured dies. In this case, one can select the maturity of the policy. Most seniors select the highest age possible to avoid the risk of outliving a policy. Outliving a policy many times forces people to repurchase the policy but at a higher premium. 

Guaranteed Universal life insurance is ideal coverage for seniors who wish to leave a legacy for their beneficiaries in the form of the final payout. The final payout can also go a long way in catering for medical and burial expenses in the end.

Whole Life Insurance

Whole Life Insurance provides coverage throughout the life of the insured. While premiums remain the same each year, the coverage tends to be more expensive compared to Term Life and Guaranteed Life insurance coverage.

Whole Life stands out in part because there is always a payout regardless of when the insured dies. In addition, it comes with a provision that allows borrowing against the policy to cater for expenses such as medical bills of the insured. Borrowing against the value of the policy reduces the death benefit.

There are three types of Whole Life Insurance:

Traditional Whole Life insurance

This type of Whole Life Insurance comes with a guaranteed minimum rate of return on the cash value portion of the policy.

Interest Sensitive Whole Life Insurance

Unlike Traditional Whole Life, it does not come with a guaranteed minimum rate. Instead, it comes with a variable rate on the cash value portion. It stands out in part because the insured can increase the death benefit without raising premiums.

Single-Premium Whole Life Insurance

Single Whole life Insurance is ideal insurance coverage for people with large sums of money that would wish to purchase a policy up front. The policy accrues cash value and comes with a tax shelter on returns. 

Get What You Need and Nothing More 

The reality of the situation is that the right coverage for you will depend on your specific situation. Work with a pro and get their help in shopping around for the best product, with the best company, at the best rate. An independent agency will be able to do the shopping for you without any extra cost to you. Get coverafed and protect your family! 

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Uncategorized https://www.investwithpassion.com/blog/life-insurance-for-seniors-best-product-options/ https://www.investwithpassion.com/blog/life-insurance-for-seniors-best-product-options/ Editor Thu, 10 Oct 2019 22:31:21 -0400
Your Guide to Mitigating P2P Lending Risks If you are planning to enter the P2P lending industry as an investor you must be aware of the fact that the risk is higher as compared to investing your money with traditional financial institutions. While P2P platforms promise you higher returns and ease of investments they do not guarantee your investments like in case of other investment options. But if you are smart enough with your choice you can very easily reduce P2P lending risks. Here we look at some of the ways in which you will be able to mitigate risks and see your investments grow exponentially.

Choose Platform Carefully              
Before you start investing on a P2P lending platform you need to choose a platform wisely. The first step to this process is verifying the reputation of the platform you are planning to invest your money in. How big is the platform in terms of their overall volume? What is the percentage of defaults? What measures do they adopt to reduce P2P lending risks for their investors? You need to find answers to these questions before you put in your money.

Understand The Platform
Next you need to get yourself acquainted with the platform.  Now the working model of the P2P lending platforms can be as varied as their names and this is where it is important for you to clearly understand how the platform works. How do they segregate the different groups of borrowers? How do they identify the risk quotient on the borrowers? Do you have the option of choosing the borrowers or in other words avoid your money going to borrowers whom you assume to be risky?

You should try to understand how the online P2P model works before lending money on it. An investor should be aware how the money is lent on the platform and what are the risks involved in lending money on the platform.

Do not hesitate to ask the P2P player about the overall volume, defaults, recovery process and likely returns. You can do your own research or simply contact the P2P Company through emails, chats or phone calls.

What is an Effective Presentation?               
An effective presentation is one that establishes strong relationship between the presenter and the audience. In these presentations the speaker prepares the content based on the needs of the audience, their knowledge levels and most importantly creates opportunities for interaction and engagement with the audience. The presenter must focus on inspiring confidence among the audience and achieve the objective of the presentation through discussions and feedback. 

Steps to Planning an Effective Presentation               
It goes without saying that an effective presentation requires meticulous preparation. In today’s world most presenters leverage technology to make their presentations engaging and effective. The use of a Presentation Management System allows you to make the whole presentation inspirational for your audience and also allows them to engage easily. Let us walk you through few easy steps of preparing an effective presentation –

  • Know Your Audience– The first step to preparing for an effective presentation is to have knowledge about your audience. You need to know who they are, their age groups, social stature etc. You need to be aware about their knowledge and familiarity with the subject to be presented during the presentation. For instance if you are speaking about astronomy your presentation for students would have to different for one in front of the scientific community. This knowledge is important as it will help you prepare the kind of presentation that is aligned to the needs, knowledge and aspiration of your audience.
  • Create Quality Content - Why you are making your presentation? You need to find answer to this question before you start working on the content of your presentation. The correlation between the content and the objective is often the difference between a boring and an engaging presentation. Once you have defined your objective you can start preparing the content. Here are few things you need to keep in mind –

    • The information/data that you want your audience to understand
    • The actions/decisions you want them to take after making your presentation
    • The best methods in which the content can be created to meet these goals

              
The best presentations are the ones where there is lot of visual content. The use of charts, graph and other audio-visual components makes the presentation interesting and engaging. This also saves you from having to explain the minutes of details reading out paragraphs of text. Since Presentation Management Systems support different types of file systems you can easily incorporate images, videos or audio files into your presentation. If you are big fan of Microsoft PowerPoint or other similar tools you can create content using these tools and easily upload them into the PMS.

  • Focus on Quizzes/Polls- To maintain high level of attention among your audience throughout the presentation you can focus on including periodic quizzes and polls during your presentation. Audience Response Systems and mobile applications allow you to conduct these polls and quizzes easily. The results for these can be displayed on the big screen immediately. Apart from engaging your audience this also ensures you would be able to ascertain your audience’s level of knowledge, knowledge retention of what you have presented and also the opinion they have with respect to your presentation.
  • Run Tests – If your presentation is a part of training or educational program it would be wise to incorporate small tests during the presentation. This will allow you to assess your trainee’s midway through the presentation. Along with this you will also be able to revise some of the complex concepts presented where the students are facing difficulty.
  • Encourage Questions & Feedback – The idea behind using a Presentation Management Systems is to break the monotony of traditional presentation. Don’t let your audience sit at the venue as passive listeners but make them an integral part of the presentation. Encourage them to ask questions where the Audience Response System can be used. This will allow you to resolve their doubts and queries and also add new and meaningful ideas to your presentation that benefits everyone. Similarly you should ask all the attendees to share their feedback at the end of the presentation as this will improve your own standing.

To conclude an effective presentation requires meticulous preparation and you need to prepare one thoroughly and make use of the features and the possibilities offered by a Presentation Management System.

Summary – In this write-up we discuss some of the ways in which an effective presentation needs to be planned and how it can help you engage your audience. 

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Uncategorized https://www.investwithpassion.com/blog/your-guide-to-mitigating-p2p-lending-risks/ https://www.investwithpassion.com/blog/your-guide-to-mitigating-p2p-lending-risks/ Editor Thu, 19 Sep 2019 08:09:12 -0400
What Are Some of the Best Bitcoin Exchanges in the Market? Buying and selling Bitcoin had never been easier than today, given the huge number of exchanges that had been launched in the past few years. However, given the lack of regulation we have in the cryptocurrency area, choosing a suitable platform may prove to be a hard task.

That is why we would like to talk about some of the best Bitcoin exchange platforms, places that had already proven to be reliable and that come with a competitive offer for their clients. Whether you want to make purchases online and avoid big banking fees, if you think Bitcoin is a long-term store of value, here some of the best places to buy/sell Bitcoin.

Local Bitcoins

Based in Helsinki, Finland and founded in 2012, Local Bitcoins is the most popular person-to-person Bitcoin trading site. As opposed to the traditional exchange platforms, with this website you can buy Bitcoin from people like yourself who want to sell it. In case you want to be a seller, you can simply sign up for an account and someone interested will contact you, if pricing is affordable.

The main advantage of using Local Bitcoins is that you will be able, from time to time, to find offers that are better than the market price. As a result, you will be able to buy Bitcoin cheaper. The website has a user-friendly interface and it does not matter whether you don’t have experience in dealing with cryptocurrencies.

Fees are relatively low and the website had already established a strong reputation in the industry. Unfortunately, you’ll only be able to buy and sell Bitcoin, since Local Bitcoins does not have support for any other cryptocurrency.

Coinbase

Headquartered in San Francisco, California, and also founded in 2012, Coinbase is currently one of the biggest Bitcoin exchange platforms in the world. Although it started by offering support only for Bitcoin, Coinbase currently has support for 16 different cryptocurrencies, meaning you’ll be able to switch from Bitcoin to other token and vice versa, without having a fiat transaction in the middle.

With more than $150 billion worth of cryptocurrencies exchanged so far, 102 countries supported, and 30+ million customers, Coinbase is one of the safest places to transact with Bitcoin. What stands out with the company is the attention it pays to be regulatory compliant. It had been one of the few companies advocating for a strong regulatory framework for cryptocurrencies and it is own for its strong ethics.

Its only downside is that it does not offer support at a global scale and if you’re not living in one of the countries supported, you’ll have to find other exchange.

Binance

Founded in 2017 and with headquarters in Malta, Binance is a global cryptocurrency exchange that provides support for Bitcoin and other 100+ cryptocurrencies. According to the latest figures on coinmarketcap.com, Binance is the second-largest exchange in the world by daily adjusted volume. Close to $700 million worth of cryptocurrencies is being exchanged on the platform each day.

Although it provides access to a wide variety of cryptocurrencies, it does not support fiat deposits. There had been some controversy lately about a system hack that had been solved in the end, but the fact that Binance is headquartered in Malta, an island known as some sort of safe-haven, should raise some questions about its compliance with the regulation.

Kraken

Kraken is another pioneer in the cryptocurrency exchange industry, being founded in 2011. Based in San-Francisco, California, the platform offers access to a wide variety of Bitcoin and Altcoin pairs, while also allowing clients to fund their accounts with fiat via bank or wire transfers.

Widely-known for its relatively-low fees, Kraken continues to have a rich clientele, since only people from Afghanistan, Cuba, Iran, Iraq, Japan, North Korea, and Tajikistan are not allowed to open an account.

Suitable especially for cryptocurrency trading, with Kraken you will be able to profit from the short-term price movements of Bitcoin, as well as of other popular or less popular cryptocurrencies.

CEX.io

Headquartered in London, United Kingdom, CEX.io was founded in 2013 and it was one of the few cryptocurrency exchanges that allowed quick deposits using credit/debit cards. In the beginning, it only had support for Bitcoin, but now 12 cryptocurrencies are being supported by the platform.

What’s even more important is that you’re dealing with fiat cryptocurrency pairs, no stablecoins or other weird coins used to set the quotes. If you want to buy or sell Bitcoin fast, then CEX.io is another suitable place to do it. USD, EUR, GBP, and RUB pairs are currently supported by the platform.

Given that you are able to deal with fiat pairs, CEX.io is among the few cryptocurrency platforms compliant with KYC and AML regulation and thus far had not been subject to any major security issue.

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Uncategorized https://www.investwithpassion.com/blog/what-are-some-of-the-best-bitcoin-exchanges-in-the-market/ https://www.investwithpassion.com/blog/what-are-some-of-the-best-bitcoin-exchanges-in-the-market/ Editor Mon, 02 Sep 2019 16:58:00 -0400
Using Mortgage Brokers in Canberra for Your House Investment Sometimes in life you may feel the need to apply for a loan. It may be to fulfil any type of requirement. A common type of loan that people normally apply for is a mortgage loan. If you also wish to get a mortgage loan, then it will be a good idea to seek help from a professional Mortgage Broker Grapevine Canberra. The professional will originate, negotiate, and also process the mortgage commercial or residential loans on your behalf. There are several benefits of hiring such as professional to get a proper mortgage loan. It may so happen that you may not be aware of these benefits. Thus, some of these benefits have been discussed below for your knowledge.

  • Provides You Access to Hundreds of Loan Products: One of the key benefits of hiring a mortgage broker is the wide array of mortgage loan products that he can present to you from different lenders. The more experienced the broker is and the wider the network of the professional, the better will your chance of getting a proper loan with suitable interest rates as per your needs.
  • Get the Deal with The Most Advantages: It is needless to say that a mortgage broker will represent your interests rather than the interest of a lender. Apart from being your agent, the professional will also act as a problem solver and a knowledgeable consultant. Since the professional will have access to a wide range of mortgage products, he will be in a better position to offer you the best possible value in terms of repayment amounts, interest rates, and loan products.
  • Has Proper Expertise and Flexibility to Fulfil Your Needs: Any good and experienced mortgage broker will navigate you through any situation, smoothen any bumps in the path, and handle the entire process. Even if you need a loan amount that exceeds the maximum loan granted by any bank, your mortgage broker can help you obtain proper financing with his ability and knowledge.
  • Saves You Plenty of Time: Time is rather important in every person’s life. If you have to apply for a mortgage loan on your own, you will have to fill up several forms and make numerous visits in order to get your loan application approved. However, if you hire a mortgage broker, you simply need to fill up one application instead of filling up forms for different lenders. The specialist will provide you with a formal comparison of any recommended loans and also guide you to the various information that may accurately portray cost differences.
  • No Hidden Costs and Saves You Money: Lenders provide loan offers to a mortgage broker in bulk. Thus, these professionals can provide you with the best possible rates that are available in the market. As a result of this, the total loan will cost you lower than the average rate. If you talk to a reputed mortgage broker, you will come to know the way they are paid for their various services, as well as, the details pertaining to the total cost of the loan.
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Uncategorized https://www.investwithpassion.com/blog/using-mortgage-brokers-in-canberra-for-your-house-investment/ https://www.investwithpassion.com/blog/using-mortgage-brokers-in-canberra-for-your-house-investment/ Editor Fri, 23 Aug 2019 06:13:50 -0400
6 Reasons Personality Tests for Employment are Essential Hiring new employees is an essential part of success for any business. Some companies do it better than others. If you are in the process of hiring employees, using a personality test for your candidates can pay big dividends. Why would you want to use a personality test for your job candidates? Here are 6 reasons that personality tests like those offered at Berke are a must. 

  1. Figure Out Who You're Dealing With 

During an interview, a job candidate can mask who they really are relatively easily. The front that they put on during an interview is easy to fake. A shy person can seem outgoing. A disorganized person can seem like they really have it together. When you complete an interview, you might have a completely inaccurate view of who a candidate truly is. By giving them a good personality test, you should be able to figure out what type of person they really are. 

If you don't really know who you're dealing with, it's difficult to find good candidates. There are few things more frustrating than hiring someone and then finding out that they aren't who you were expecting during training. Give them a personality test and get the real picture early on in the process. 

  1. Save Yourself Time 

If you don't know who a person really is and you hire them, it will inevitably waste your time. Additionally, you'll be wasting the time of the person that you hired. They may not have been consciously putting on a front during the interview. They get hired for a job that they aren't a match for, expecting to do well. Then when they start training, they quickly realize that they aren't where they need to be. By giving candidates a personality test, you can save yourself and them some time. 

  1. Find a Good Match 

Not everyone is good at every type of job. For example, if you're trying to fill a sales role, you may not want to hire an introvert who doesn't like to talk. Take some time to figure out the type of personality that you need for a particular role. You can then give candidates a personality test and then know who is the best candidate for that role. If you can successfully match up the personality with the job opening, you're going to have much better luck at finding the right person for the job. 

  1. Let Them Know You're Serious 

By issuing a personality test, you convey to the job candidate how serious you are about finding the right person for the job. There are always those candidates who aren't really serious about the job, but apply for various reasons. They may be trying to find out information about the job, meet unemployment requirements, or not really be that interested. If you tell them early on that they're going to be taking a personality test, they might drop out before you even get that far. If you can weed out some of the poor candidates early in the process, you'll save yourself a lot of headaches and frustration. 

  1. Find Out What They Can Do, Not What They Claim to Have Done 

Giving a candidate a personality test will help you determine exactly what they're willing to do. In a job interview, people will say anything. They'll tell you that they're the greatest at whatever task you need them to be good at. A personality test will help you drill down to the facts. For example, if you need a project manager that is detail-oriented, the personality test can help you figure out if they actually are. Anyone can claim to be detail-oriented, but the test will tell you if they are. 

  1. Eliminate Personal Biases 

Sometimes, an interviewer gets the wrong impression about a candidate. It may be because of unconscious biases. This can lead to the company making the wrong decision about a person. By issuing a good personality test, you can avoid making bad decisions because of unknown bias in the interview process. 

Overall, using these types of assessments can benefit your company tremendously. Take the time to add this tool to the hiring process for your company and you'll start making better hiring decisions.

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Uncategorized https://www.investwithpassion.com/blog/6-reasons-personality-tests-for-employment-are-essential/ https://www.investwithpassion.com/blog/6-reasons-personality-tests-for-employment-are-essential/ Editor Fri, 09 Aug 2019 17:48:46 -0400
Is Taking Out a Loan to Pay Your Debt Worth It? Borrowing money to pay debts you can not afford to pay is typically never a good idea. In most cases, you simply transfer debt that you can not pay from one creditor to another creditor without addressing the underlying financial problem.

In the process, you could make your financial situation worse.

Of course, there are some exceptions to the rule. There could be a few instances in which a person might want to take out a loan to pay debt.

However, before doing anything, you may want to discuss your financial situation with a bankruptcy attorney just to ensure that you are making a decision that is in your best interest in the long run.

Let’s examine a few situations in which people commonly incur debt to pay debt.

Reverse Mortgages

Seniors who own equity in their home can access the equity to pay debts and living expenses through a reverse mortgage. With a reverse mortgage, the homeowner receives periodic or lump sum payments from a lender based on the equity in the home. The loan becomes due when the homeowner passes away or the property is sold.

While a reverse mortgage may provide income for some individuals who need money to pay living expenses, it may not be the best solution to a debt problem. In a bankruptcy case, the equity in the home is typically protected from creditors. Therefore, a homeowner may get rid of debts he or she cannot pay while retaining the equity in the home.

Low Interest or No Interest Credit Cards

If you receive an offer for a low interest or no interest credit card, transferring balances from credit cards with higher interest rates can save money and help you pay down debt faster. However, you must be able to pay the debt. If not, you are not resolving your debt problem. A Chapter 7 bankruptcy case might wipe out the credit card debt without any further payments.

Debts That May Not Be Discharged in Bankruptcy

Most tax debts are not dischargeable in a bankruptcy case. Alimony, child support, student loans, and some personal judgments may not be dischargeable in a bankruptcy case. It may appear that you have no choice but to borrow money to pay these debts. However, in a Chapter 13 bankruptcy case, you may have up to 60 months to pay these debts in full through a repayment plan without incurring additional interest or penalties. Chapter 13 may be preferable to borrowing money to pay non-dischargeable debts.

Reasons Why You Should Consider a Bankruptcy Instead of Borrowing Money

Before you apply for a new loan or incur more debt, you should discuss your financial situation with a bankruptcy lawyer if:

  • Your income has been reduced permanently, such as in the case of disability;
  • You cannot afford to pay your debts after you pay your living expenses;
  • You are using credit cards to pay normal living expenses;
  • You are facing a foreclosure, repossession, wage garnishment, or debt collection lawsuit;
  • You are selling property to make ends meet;
  • The interest rate on new loans is higher than the interest rate on your current loans; or,
  • You do not owe the money claimed.

About the Author:

John J Scura III, Esq.                                                                                                         
Partner, Scura, Wigfield, Heyer, Stevens & Cammarota, LLP

John has been Certified by The Supreme Court of New Jersey as a Civil Trial Attorney.  Whether it is a personal injury case, bankruptcy case, litigation case or other type of matter, John wants his clients to participate in the decision making process toward solving their problem in the best way possible.

https://www.scura.com

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Uncategorized https://www.investwithpassion.com/blog/is-taking-out-a-loan-to-pay-your-debt-worth-it/ https://www.investwithpassion.com/blog/is-taking-out-a-loan-to-pay-your-debt-worth-it/ Editor Tue, 06 Aug 2019 05:19:38 -0400
How to Help Your Business Get Out of Debt Running a business - any business - requires a lot of money. Most people start a business with the intention of earning more than they spend, but the truth is that it can, and does, take years for a business to turn a profit. What’s more, it may take longer than expected for prototypes, minimal viable products, and samples to be ready to show investors to actually get their hands on capital. Revenue from sales can also take longer once the business is fully operational and there are always bills to be paid right from day one. So how can your business get ahead, get out of debt, and continue to be prosperous before profitability? You need to work to get your business out of debt as fast as possible.

Business owners often work to pay day-to-day bills, keep loans and interest payments at bay, and focus on investing in marketing their products so they can turn a profit, but there are other ways to create room for money in your business. Paying down debt, for example, can free up a lot of your monthly expenditures over time and can save you thousands of dollars in interest payments along the way. Of course, finding alternative business funding options besides traditional bank loans are much more popular these days than they were years ago. That’s because business owners are learning about the lower interest rates, better advantages and perks, and the networking that comes with doing business outside of a banking institution. So the first thing you need to do to start wiping out your business debt is take a look at where you are banking and shop around for lower interest rates on all of our business loans and accounts.

The next thing you need to do is look at what you have purchased that is not necessary for the overall operation or success of your business. For example, if you run an online website selling products that are drop shipped from another part of the country, you don’t need a 10-office suite. You probably don’t even need 5 offices. Most online retailers startup running a tight ship and that means running a skeleton crew. If you can downsize your space and avoid hiring more people than are necessary, you can redirect that extra capital into your loan accounts to get rid of the debt. A few hundred dollars a month might not seem like a big deal, but it makes all the difference in the world to a new operation trying to keep its head above water and not get bogged down with ridiculous debt payments every month. Sure, you can claim the loan interest, but wouldn’t it be better to not have any loans at all? It’s amazing when your business can run debt free. It means you can make decisions on the fly, change at the drop of a hat, or move in a direction because you don’t have investments in your previous ways of doing things.

Another thing you can do to help reduce your business-related debt is to consolidate your existing loans into a loan with a lower interest rate. If this isn’t possible because you haven’t been operational for long enough or because you don’t have enough equity in your property or business, consider consolidating some of the loans at least. You might not like the idea of managing several loans, but if they are saving you money - literally, thousands of dollars in some cases - it’s worth the time and energy to maintain them over the life of the loan. Any money you save as a result of consolidation should be thrown right back into the loan payments to help pay down the debt that much faster.

Finally, you can sell the business. If running your business and servicing the debt is becoming too much for you to handle, you always have the option of selling the business, bringing on a partner to cover the debt, or looking for investors to pay it down so you can get back to doing what you do best. It’s not the ideal situation, but you might be so stressed out from running a business just to pay debt that you might not have even considered it was an option. Give yourself some time to mull over the options and do what is right for your business and your life. It’s easy for business owners to carry on down a path of resistance because they made a commitment to the business and their customers, but that cost is great in some cases and you need to make sure you are doing what is right for you, your health, and your bottom line.

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Uncategorized https://www.investwithpassion.com/blog/how-to-help-your-business-get-out-of-debt/ https://www.investwithpassion.com/blog/how-to-help-your-business-get-out-of-debt/ Editor Mon, 29 Jul 2019 17:23:13 -0400
Bank on Genuine Debt Settlement Companies – Tips Identify Fraudulent Companies! Debt settlement companies are organizations that settle or renegotiate the terms of a debt that you owe to a creditor or a debt collector. There are credible and esteemed names that focus on your best interests. They have skilled and trained negotiators who will talk with the creditors on your behalf and come back with convenient debt repayment plans. When it comes to debt settlement companies, it is prudent for you to check and read customer reviews and testimonials online. Time and research need to be taken when it comes to choosing the best debt settlement companies for your needs.

Identify the risks of dealing with a fraudulent debt settlement company

Like genuine debt settlement companies, you will find there are fraudulent companies in the market as well. It is prudent for you to conduct research and only bank on certified companies for your needs. Though many companies will make the promise of settling your debts, if you are not careful, dealing with a debt settlement company can be risky as several companies are fraudulent and look for ways to cheat you. This is why it is important for you to check the credentials of these companies along with certifications so that you can get trusted professionals to manage your debts. If you are not careful, dealing with debt settlement companies can be very risky.

Understand debt relief with genuine debt settlement companies – Do not fall prey to fraudulent companies

Debt settlement companies are also called debt relief companies that negotiate with creditors for reducing the amount of loan that you owe. Here, you should consider all the options you have including joining hands with a credit counselor who is not on the lookout for profits. The counselor will talk and negotiate with the creditor directly. You too have the option to talk with the debt collector by yourself. Experts in the field say that you should consult a credible credit counselor to know about the risks that are associated with debt settlement companies that have been listed below-

  • Check the fees and the costs of debt settlement companies. Some debt settlement companies are very expensive, and the costs can really be hard on your pocket.
  • Another point you should be careful of is debt settlement companies will ask you to stop paying your bills relating to your credit card. If you do so, you will incur late fees, interest charges, penalties, and additional charges. This will prompt your creditors to start collecting debts from you. They will keep on calling you.
  • Often, it is found that some creditors will not be ready to work with the debt settlement company you select.
  • In most cases, debt settlement companies will settle only a part and not all of your debts.
  • In most cases, when you work with a debt settlement company, the experts will ask you to place money in a savings account that is managed by a third party. You will be asked to pay fees for using the account.
  • There are instances where working with a debt settlement company has led to creditors filing lawsuits against individuals that owe the debts.
  • The debt settlement company generally settles most or maybe all of your debts. The penalties and the fees accumulated on these unsettled debts may clean up any savings that the debt settlement company may have achieved on the debts that it has settled.
  • The use of debt settlement companies can adversely affect your credit score.

Avoid these mistakes when you are choosing debt settlement companies for your needs

You should avoid doing business with any debt settlement company that promises to settle your debts. Read debt settlement feedback of companies that you come across. Look out for the following-`

  1. Do not bank on any debt settlement company that asks for fees or any charges before it agrees to settle all your debts.
  2. Some debt settlement companies often lure individuals who have debts with government programs recently launched in the market to help you out of personal debts especially those of credit cards.
  3. These debt settlement companies give you the guarantee that they can wipe away all your debts.
  4. The first thing that fraudulent debt settlement companies will ask you to do is stop paying your creditors- this may lead to your creditor suing you.
  5. They will tell you they will completely stop lawsuits and all calls from debt collection agencies.
  6. Gives you the guarantee that your unsecured debts will be paid off at reduced rates.

How can you find credible and genuine debt settlement companies for your needs?

In order to find a genuine debt settlement company for your needs, you must compare brands and read expert reviews. Besides certifications, you should check their services. Reading honest customer reviews online will help you understand the nature of their services to individuals. When you are comparing debt settlement companies online, you should speak to the professionals here and ask them queries. See how they answer your questions. Good debt settlement companies will have a customer-oriented attitude, and they will provide detailed information on the debt settlement process. They help you in all fields and ensure that you get the best for your needs.

Wrapping things up

Therefore, when you are looking for a professional and genuine debt settlement company, ensure you keep these above tips in mind. They will help you choose a company that is reliable and genuine in nature. The experts of the company will keep your best interests in mind. They will negotiate with your creditor and help you legitimately settle most of your debts. Check their programs and choose one that promises to give you the convenience of debt elimination without hardships on your budget. Take time and never rush into finding the perfect debt settlement company for your needs. Be prudent and select a good credible company with positive reviews and customer testimonials always!

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Uncategorized https://www.investwithpassion.com/blog/bank-on-genuine-debt-settlement-companies-ndash-tips-identify-fraudulent-companies/ https://www.investwithpassion.com/blog/bank-on-genuine-debt-settlement-companies-ndash-tips-identify-fraudulent-companies/ Editor Tue, 16 Jul 2019 08:49:11 -0400