Setting Up Your Home Business with Small Business Loans
More and more people are setting up home businesses these days. Some of them may have been laid off from work. Others may have found difficulty finding employment. Still others may have chosen to change careers midstream after finding their true passion and deciding to make a living out of it.
Setting up a home business gives you much more freedom than regular employment. You are now your own boss. It gives you more time with your family and for yourself. It eliminates the stresses of the workplace and the fatigue of commuting to and from work. This redounds to better physiological, psychological and emotional health and greater productivity. It is also a good way to start going into business because of the lower start up costs. You save a lot on overhead expenses by having your office in your own home.
Despite the low start up costs of a home business, it is not a free ride. You will definitely still need some additional capital as you go along. The good news is that you can start very small and, because of this, you need not approach those intimidating banks and financial institutions for small business loans. After all, it is common knowledge that not only is the process of applying for small business loans lengthy and complicated, but approval is also mostly withheld anyway.
What you should do is approach a merchant service, instead, and apply for credit card services. What has this got to do with your need for small business loans? A lot. Through the same merchant service from whom you get your credit card services, you can get cash advances that are just like small business loans, albeit with lower ceilings. That would not be a problem given your smaller capital needs.
But what are credit card services? Is this the same as applying for a credit card? No. It is actually the other end of the equation. Credit card services allow you to accept payments through credit or debit cards in person, through the internet, by phone and by fax. The merchant service provides you with terminal equipment for physically swiping the cards and the software and high speed IP solutions necessary for all kinds of transactions.
Having credit card services is actually necessary for practically any home business that is involved with sales. The ability to accept debit and credit card payments will boost your income. Having multiple payment options, such as person-to-person, online, phone and fax payments, will further attract more customers.
Most merchant services require only a short minimum period to determine your business’ capability to generate credit card and debit card sales. Your average monthly income through your credit card services will be the basis for the amount of cash advances you will be allowed to make. You will not be required to put up any collateral at all. It is like getting pre-approved small business loans. But there’s more good news. You need not scrimp and save to muster enough cash for loan repayment every month. All you need to do is attend to your business and its profitability. As your credit and debit card payments roll in every month, a certain percentage is automatically paid to the merchant service for your loan. You need not worry about it since you will always be able to afford your payments. Your customers will ensure that.
As your business grows and your sales multiply, you may qualify for bigger and bigger cash advances that you can use to further expand your home business. And you’re on your way to the big time.
Help answer the question
What business classes do you generally take the 3rd and 4th year of your BA?
Im currently going to a 2 year school, getting my Business associates degree with a transfer option, and plan on going to a 4 year school to get my BA, and eventually my MBA. Im taking basic economics, accounting, and business managment classes right now, along with other core english and math classes, but what should i expect on my 3rd and 4th year? What types of classes? I know business classes obviously, but what specifically?
Advanced Merchant Services
Contact Name: Roger Inman
P.O. Box 1475 Safety Harbor, FL 34691
Bus: 727-642-3606
Bus Fax: 877-413-6067
E-mail: rinman3@tampabay.rr.com
Website: www.bankcardprocess.com
This entry was posted on Sunday, December 20th, 2009 at 2:43 pm and is filed under business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
December 20th, 2009 at 2:46 pm
You are so talented!
Keep it up!
December 20th, 2009 at 3:32 pm
Wow! He looks almost… alive O.O Awesome painting! Keep it up
December 20th, 2009 at 4:04 pm
Check out the website http://www.startupnation.com , and their "10 Steps to Start a Business". Also ask for advice in their forums. The people are very helpful.
Wishing you success!
December 20th, 2009 at 4:17 pm
Do a Business Plan First!
What are the costs of the overheads? rent, utilities, business rates staff costs etc
What government help/grants is there to help you setup?
What are the setup costs?
Costs involved in bank loan? Repayment terms?
Expected Supplier costs, Which Suppliers to use?
Everything needs to be costed.
Estimated sales values/ Profit margins
Can you do it with a limited liability, i.e "The Sweet Shop Ltd"
(Should it not work and make losses, your house would be safe as the liability is Limited to the Company/ Entity)
I think its a very good idea and it can work, its upto you to make it work.
E-mail me direct with any questions and I will try to help
Regards
Steve
(Accountant for 2 x UK Limited Companies)
December 21st, 2009 at 3:10 am
December 21st, 2009 at 12:27 pm
if you are going to buy a home. Buy the home before you quit your job (and lose the income). Self employed people usually have to show 2-3 years tax returns.
A mortgage is a mortgage and a business loan is a business loan. I don't know any that mix them.
If you do the work, building can be cheaper. But in the long run, it usually isn't.
Make sure the the place you buy allows a business. If there is an HOA. Forget it. Plus there is zoning.
December 21st, 2009 at 1:16 pm
$250,000 not $100,000.
Small businesses would benefit under his tax credits. And yes you get taxed on take home, not gross. I can't think of one single 'small business' that takes home $250,000.
December 21st, 2009 at 6:35 pm
Incorporate, make the company a seperate entity from you as an S-Corp, which does not pay federal income taxes, and keep the corporations finances seperate from your finances.
Do not "give" money to the corporation, instead, write up a loan contract and lend it to the corporation.
Buy stock in the corporation to give yourself control and ownership.
Bill the corporation for any use of your property and/or services.
December 21st, 2009 at 7:30 pm
I wasn’t sure, if this Johnny really is just a photo – he just looks too real. Keep up the beautiful work
The song was also fitting
December 22nd, 2009 at 12:17 am
together we exist together we suffer and forever we will recreate each other…. i witnessed a very magical moment just now…. thank you.
Paris Lo in las vegas
December 22nd, 2009 at 4:58 am
check out the SBA
December 22nd, 2009 at 9:07 am
it’s almost like a photo
great painting 
December 22nd, 2009 at 5:12 pm
this was so awesome!!!! just perfect, the piano goes well along the video, tx 5**
December 22nd, 2009 at 6:28 pm
That’s amazing! It always seem easier to draw on the computer then on paper. Really now, to color like that makes me curious, though everyone’s style of art is different.
December 23rd, 2009 at 1:05 am
December 23rd, 2009 at 3:37 am
You’re an amazing artist both painting and music wise. keep it up ^ ^
December 23rd, 2009 at 4:43 am
dude, you own! this looks identical to a photograph
December 23rd, 2009 at 6:36 am
Not sure how many actual responses you'll get, but I'll help you out with one.
Made-by G Jewelry(http://ginasessa.com)
Partnership
2 years
We sell beautiful handmade jewelry, inspired by nature, and always at a great value.
1. We use a ton of online(Facebook, Social Networking) and traditional Social Networking(Friends) to build and maintain clientele, we like to call it Friendship marketing.
2. We are on a "No-Debt" basis, which means that we absolutely refuse to take on debt to keep our business running, and when times are slow, we are grateful. The rest of the time we are quite busy just doing cash/credit/checks.
3. No, although we sell value products, so in this economy, it actually works in our favor pretty well. People still need gifts, but they may not have the funds to buy more expensive items, but they can always afford what we sell.
4. We do all of our own accounting, the sales volume is still reasonable so that we don't need to hire another person.
5. We run our business out of the home, as business progresses we have thought about moving to a storefront, but ultimately sales have to warrant the expansion.
6. N/A
7. The most difficult part is finding time, and keeping yourself focuses, motivated, and disciplined. Also getting new clients is a challenge for any small business, so the first rule is, take care of your regulars first, and then worry about getting new ones.
8. We don't take on a ton of debt we can't afford to make payments on. A lot of people get into small business not really knowing what to expect. There is a certain level of manageable growth that you should aim for, so that doesn't mean start a business, go to a bank and get a storefront before you've done your homework(marketing, business plan, basics). And ultimately, if you don't know what you're doing, you shouldn't run a business(its not for everyone).
9. I believe a lot of our materials are imported, although we buy from American companies, you never know who they import them through(beads, gem stones, etc).
10. Quite a bit of our business is conducted online, small business should use the multimedia capabilities that are available for free to attract and make sales from as many customers as possible.
No problem!