Archive for March, 2010
Identifying Potential Giving Fund
To the sources of private loans outside the banking, before someone start a business. There are three sources to obtain personal loans, ie relatives, friends, acquaintances business and angel investors or investors who really help without anything in return, furthermore will explain the benefits to borrowers, funders and how to identify potential funders. What are the advantages for the borrowers?
Usually when we use his own money, then the next funding is borrowing from the above three individuals. Well, we are also able to fund loans to credit without collateral and credit cards. But, it takes a high interest rate, no extra costs and need credit history (credit checking). For that, the borrower can provide competitive rates to attract loan. Money from friends, relatives and acquaintances were there, and they usually do not do credit checking, but preferred working relationship. Also, funds can be given quickly. In addition, payments to the borrower’s actual return could be arranged flexibility for funds approved by the poster.
Then, what benefits for lenders? Actually in this context, the lender has the emotional attachment (bonding) that he wants to maximize, Read the rest of this entry »
Starting Business with Own Money
After knowing wealth management, this time we will discuss about creating wealth. If we ask a broad audience, from which and the beginning of a big company to start business today, most people would answer from the bank. This opinion is wrong, because if reviewed deeper, turns out they started with their own money and loans from the people around him.
Some examples mentioned, Sam Walton, Wal-Mart founder, started his business by borrowing from his father-in-law of U.S. $ 20,000 and U.S. $ 5000 own funds to purchase a retail store in 1945. Now, Wal-Mart is the largest retailer in the world. In addition, Berry Gordy borrowed $ 800 from members of his family in 1959 to start a business in the music recording industry (music recording industry), and then to launch Motown records and developed into the largest company owned by blacks in the history of the United States.
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