Ways to Save Money
In these hard times, money is hard to come by so you should know how to save it until things get better. Since it is a balancing act that is somewhat challenging, here are a few ways that can teach you how to save money. If you don’t want to lose your home like a lot of Americans have over the past year, you have to kill your debt first. You do that by calculating how much money you spend in a month and then see where the budgets can be made so there is money you can use to pay ...
Five Practical Ways to Save Money for Students
It can be hard to think of ways to save money especially for students since they don’t have their own money yet. This is because at times, for all the expenses while on campus, there is barely left to save. Although it is hard, it doesn’t mean that it is impossible for students to save money while studying. All they need is to develop good time management skills, strict budgeting, and practicality. If you are one of those who are thinking of ways to save money while on campus or even before you enter one, here are some of the ...
Six Simple Ways to Save Money
No matter where you look at it, there will be always ways to save money if the person has the will do so. If you are one of those who are trying to come up with ways to save money in this unstable economy, it is best to start with developing a simple lifestyle. When you are able to do this, the rest will follow. But, if you are one of those who are not sure where to start, here are some eight simple ways to save money. 1. Cut down on grocery or shopping sprees. Although buying groceries is a ...
Save Money Without Feeling Poor
Yes. You are feeling the economic crunch. Times are hard and you are finding it hard to even make both ends meet with the rising costs of basic necessities and the fact that you lost one of the part-time jobs that you are holding. This is the common scenario that people, not only in the US, is feeling. They may not have lost their jobs but they have certainly found it hard to earn extra. Can you blame them then if they look for ways to cut costs and save money? Although it looks like a pretty daunting task, it’s not ...
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Using a Finance Broker Saves Time and Money
May 13, 2010 by Best Ways To Save Money
Filed under More Savings
There was a time when banks and conventional lending institutions cornered the market on providing financial services for small businesses. Those days are long gone, as new choices have provided a massive amount of available capital. A good finance broker can help a business sift through the many alternative funding sources to capitalize on the best funding solutions. In other words, business owners shouldn't look at brokers as someone that is costing them money. Rather, a properly trained and motivated broker can save tremendous amounts of time and money for the client.
From a strong economy to a major recession, the need for capital is constant. Capital is needed for equipment, vehicles, inventory, and premises. A good financial broker should be able to help owners access a wide range of lessors, commercial mortgage sources, and providers of working capital. They will also know the various strengths and weaknesses of each funding source, which will help provide the best ?fit? for the borrower.
Here are some of the ways a broker can benefit a company wishing to acquire capital:
? A properly packaged loan or lease application is essential for qualification. A broker can help package and present the application on the borrower's behalf
? The broker will negotiate with lenders to get the best deal for the borrower
? The deal is managed and expedited from beginning to end
? Independence insures that the focus is on the borrower's needs rather than that of a single lender
? Broker is not constrained by a single company's policy
? In cases where cash is needed quickly, brokers know which sources can provided fast closings, sometimes in as little as 48 hours
? Competition among lenders usually leads to better terms and mitigates the temptation for a single lender to take advantage of the borrower
? Can bring a number of partners to the table to get the job done
? The broker is motivated because compensation is based on the successful delivery of a credit facility.
All of these advantages should be taken into account when the borrower desires funding. The 1 to 2 point fee that is paid to the broker can be more than justified in terms of time and cost savings.
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Kent Harlan has been a CPA since 1984 and has provided consulting, accounting and financial services to several industries. He is the owner of Ozarks Capital Funding, LLC, a Springfield, MO based company offering financing in the areas of accounts receivable factoring, equipment leasing, asset based lending, and healthcare provider. He is an active member in the Missouri Society for Certified Public Accountants and has written several articles for the Springfield Business Journal. |
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