Post about "Debt Management"

Tips for Applying for a Commercial Loan

At some point of time you might have to apply for a commercial loan. If you think that’s an easy job, you’re wrong. It’s not as easy to get a commercial loan as getting a home mortgage loan. The lender is concerned about collateral and repayment. Mortgages are easy to get. But, commercial loan is a different story altogether. The process itself is very different. Given the current market situation, i.e. after the crisis, banks and financial institutions have become very selective. You need to prove to the lending institution that giving you a commercial loan is not a high-risk affair.Planning, organization, preparation and follow through are a requisite when you want to apply for a commercial loan. It needs a lot of consideration. Before you apply for a commercial loan, you must consider some aspects. Here are some tips for you.Need for LoanYour lender would be interested to know your exact purpose for taking a loan and the repayment structure. Thus, investigate properly as to why you need the loan. Use a loan calculator to calculate the EMIs for different tenures. Tell them the one that you seem is best. Institutes like to deal with knowledgeable customersTime of LoanGenerally the lenders would tell you that the loan could be processed in 30-40 days. This is not true. It generally takes up to 3 months to get the commercial loan approved. Thus, plan your requirement in time and apply early so that funds are available to you when you actually need it.Amount of LoanYou must know the amount you wish to apply for. Ensure that the amount of loan will solve your purpose. Don’t apply for too much as it means more interest, whereas applying for less will not solve the purpose at all. If you wish to buy new equipment for $40,000 and you have no alternate source of funding, then you must apply for the full amount.Visit Different LendersDon’t apply to just one lender, shop different lenders. First go to the lender you know. Discuss the proposal with them, and while they review your file you can check with other lenders in your area. By talking to different lenders you can compare their offerings and select the one that best suits you.Prepare Your Loan RequestBefore you go to the lender, get all your documents ready. If you want to buy new equipment, you will need the purchase invoice. Your recent financial statements would be needed as well. Along with the documents, prepare a letter with the reasons for your commercial loan request. Loan specifics like amount, interest, security, repayment and other conditions that you seek must be included in your request. Tell about yourself, your business, competition, your plans etc. This will help the lender to understand you better. Make sure all the information you give is precise, accurate and verifiable.NegotiateIf you receive multiple approvals, then u can negotiate your loan terms and structure as well as your prepayment penalties and closing costs. Select the lender that gives you the best deal. Contact the other lenders and thank them for their time. You might need them in future!

Shoe Repairs And Several Other Things When I Was 7

Shoe Repairs And Several Other Things When I Was 7
My Dad repaired most of our shoes believe it or not, I can hardly believe it myself now. With 7 pairs of shoes always needing repairs I think he was quite clever to learn how to “Keep us in shoe Leather” to coin a phrase!

He bought several different sizes of cast iron cobbler’s “lasts”. Last, the old English “Laest” meaning footprint. Lasts were holding devices shaped like a human foot. I have no idea where he would have bought the shoe leather. Only that it was a beautiful creamy, shiny colour and the smell was lovely.

But I do remember our shoes turned upside down on and fitted into these lasts, my Dad cutting the leather around the shape of the shoe, and then hammering nails, into the leather shape. Sometimes we’d feel one or 2 of those nails poking through the insides of our shoes, but our dad always fixed it.

Hiking and Swimming Galas
Dad was a very outdoorsy type, unlike my mother, who was probably too busy indoors. She also enjoyed the peace and quiet when he took us off for the day!

Anyway, he often took us hiking in the mountains where we’d have a picnic of sandwiches and flasks of tea. And more often than not we went by steam train.

We loved poking our heads out of the window until our eyes hurt like mad from a blast of soot blowing back from the engine. But sore, bloodshot eyes never dampened our enthusiasm.

Dad was an avid swimmer and water polo player, and he used to take us to swimming galas, as they were called back then. He often took part in these galas. And again we always travelled by steam train.

Rowing Over To Ireland’s Eye
That’s what we did back then, we had to go by rowboat, the only way to get to Ireland’s eye, which is 15 minutes from mainland Howth. From there we could see Malahide, Lambay Island and Howth Head of course. These days you can take a Round Trip Cruise on a small cruise ship!

But we thoroughly enjoyed rowing and once there we couldn’t wait to climb the rocks, and have a swim. We picnicked and watched the friendly seals doing their thing and showing off.

Not to mention all kinds of birdlife including the Puffin.The Martello Tower was also interesting but a bit dangerous to attempt entering. I’m getting lost in the past as I write, and have to drag myself back to the present.

Fun Outings with The camera Club
Dad was also a very keen amateur photographer, and was a member of a camera Club. There were many Sunday photography outings and along with us came other kids of the members of the club.

And we always had great fun while the adults busied themselves taking photos of everything and anything, it seemed to us. Dad was so serious about his photography that he set up a dark room where he developed and printed his photographs.

All black and white at the time. He and his camera club entered many of their favourites in exhibitions throughout Europe. I’m quite proud to say that many cups and medals were won by Dad. They have been shared amongst all his grandchildren which I find quite special.

He liked taking portraits of us kids too, mostly when we were in a state of untidiness, usually during play. Dad always preferred the natural look of messy hair and clothes in the photos of his children.