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Small Business Financing Options Hurt by Business Lending Changes
by
Stephen Bush
If a small business borrower wants to continue their current banking relationship, they are likely to discover that recent commercial lending changes are permanent and cannot be escaped. A small number of new and flexible business lending sources provide a welcome exception to this trend. Nevertheless the business lender changes are likely to impact most business owners.
One of the biggest commercial lending changes involves new guidelines for working capital financing. Most banks appear to be quietly eliminating business lines of credit or severely reducing the amount they are willing to finance to a level which is not helpful to an average business. Very few businesses can survive without a reliable source of working capital, so this change promises to receive the highest priority from most small businesses. To replace the disappearing commercial lines of credit, the most practical options for business borrowers include working capital loans and merchant financing from one of the alternative commercial finance sources still active in small business financing programs. The difficulty of locating investment property financing illustrates another business lender change. If the commercial property is considered to be owner-occupied (the owner occupies a substantial portion of the building), more banks will be interested in making commercial real estate loans. Commercial properties like apartment buildings and shopping centers are often owned by investors that do not occupy the property. For many banks, it appears that they are currently restricting their commercial lending activities to those which qualify for SBA loans (Small Business Administration) which generally exclude investor-owned situations. A third significant business lending change is demonstrated by revised guidelines for refinancing commercial real estate loans. In almost all cases, commercial lenders have dramatically reduced the loan-to-value percentages that they will lend. Many banks will no longer lend over half of the appraised value for specific business types in some areas. The difficulty for a commercial borrower refinancing an existing commercial loan reach a crisis level very quickly when this happens. In many cases the original business loan was based on a much higher percentage of business value than the bank is currently willing to provide. The lending problem is further compounded when a current appraisal reveals a decrease in value since the original loan was made. Due to a distressed economy which frequently results in decreased business income that then leads to lower commercial property values, such an outcome is especially common. In a fourth example of commercial lending changes, for virtually all small business finance programs many small business owners have already discovered an inflated fee structure from most banks. Needing to find a revenue source to replace diminishing income from business loans (which has resulted from bank decisions to decrease commercial loan activity) is perhaps one bank perspective for the commercial financing fee increases. Except for unusual and unavoidable circumstances, business borrowers should seek different commercial funding sources when they encounter suddenly increased business financing fees levied by their current bank. Banks changing their overall guidelines for small business financing produce a final and widespread example of commercial lender changes. Many banks have effectively stopped making any new commercial loans to small businesses regardless of business income or creditworthiness. Unfortunately these banks are not announcing publicly that they have discontinued small business finance activities. This means that while they might accept business loan applications, they do not intend to actually finalize commercial financing in most cases. Needless to say, this approach is frustrating and enraging business borrowers whenever it becomes obvious that the bank has no real intentions of making a requested commercial mortgage or working capital loan. The five commercial lending changes described above are unfortunately the proverbial tip of the iceberg. Small business owners will need to be especially diligent and skeptical as they approach business lenders to obtain commercial real estate loans, business financing and working capital financing.
Stephen Bush has provided candid advice to business owners for more than 25 years and is a
small business loans
expert. AEX
Working Capital Financing
and Small Business Financing
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ArticleRich.com
Saturday, April 14, 2007
A complex series of events, including a five month-old computer error, was responsible for the battery failure that led to the loss of NASA’s Mars Global Surveyor last year, an internal review board says. Findings from a preliminary report released on Friday say that while NASA controllers followed procedures while operating the craft, the procedures did not cover the types of errors that occurred.
According to NASA, on November 2, 2006, the Global Surveyor was ordered to perform a routine adjustment of its solar panels. However, the Global Surveyor reoriented to an angle that exposed one of its two batteries to direct sunlight. The battery overheated, which led to the depletion of both batteries. An incorrect setting in antenna orientation prevented Global Surveyor from relaying its status to NASA controllers. Its preprogrammed systems did not take into account the need to maintain a thermally safe orientation.
That was the last communication that NASA controllers had with the spacecraft.
The Global Surveyor was the first US mission to Mars in twenty years, For ten years, the craft returned detailed information to NASA scientists providing new insights, including evidence that appeared to show the presence of water on Mars and identification of deposits of water-related minerals, which led to selection of a Mars rover landing site.
“The loss of the spacecraft was the result of a series of events linked to a computer error made five months before the likely battery failure,” said Dolly Perkins, board chairperson and deputy director-technical of NASA’s Goddard Space Flight Center.
The board concluded that NASA controllers had followed procedures, but that the procedures did not adequately cover the type of errors that occurred. In its final report, the board will offer recommendations applicable to future missions.
“We are making an end-to-end review of all our missions to be sure that we apply the lessons learned from Mars Global Surveyor to all our ongoing missions,” said Fuk Li, Mars Exploration Program manager at NASA’s Jet Propulsion Laboratory.
The Global Surveyor was the longest operating spacecraft at Mars and had lasted four times longer than expected.
Monday, June 2, 2008
Leading up to the 2008 COMPUTEX show, the “2008 WiMAX Expo Taipei” is being held. Co-organized by Taiwan External Trade Development Council, Taipei Computer Association (TCA), the Industrial Development Bureau of the Ministry of Economic Affairs (MOEA), M-Taiwan Office, and WiMAX Forum, the expo will be held in Taipei Show Hall two. It is planned to run for five consecutive days commencing on June 2. In addition, the 2008 WiMAX Forum Operator Summit will be also held at Far Eastern Plaza Hotel on June 2 & 3.
According to the Taipei Computer Association (TCA), there will be sixty networking companies and manufacturers participating in this show. Their aim, to demonstrate the telecommunications technology in Taiwan. About seventy world-class operators from the networking industry will be invited to join the Forum Summit.
‘WiMAX’, the 4th-generation networking technology, showed several advantages as a ‘MUST’-have trend, ‘M’ for mobility, ‘U’ for ultra-lows, ‘S’ for smart [or intelligent], ‘T’, not only for thin [or mini] but also for Taiwan because the WiMAX infrastructure in Taiwan leveled up the ICT industry. If the WiMAX become popular in Taiwan, its industrial applications and solutions will be more valuable after several required testings and evaluations. | ||
Following the Ministry of Economic Affairs signing an extended Memorandum of Understanding (MOU) with Intel on April 21, both will work together to promote the WiMAX industry in Taiwan. Intel, participating in both COMPUTEX and the WiMAX expo has a number of WiMAX Segways to demonstrate the technology. Their involvement will also include acting as hosts for the 2008 e21FORUM where Mobile Web 2.0 will be discussed.
A bus promoting the WiMAX expo will also be in service with Far EasTone Telecommunications and First International Telecom doing live demonstrations of their enterprise offerings.
Sunday, January 27, 2008
Viktor Schreckengost, the father of industrial design and creator of the Jazz Bowl, an iconic piece of Jazz Age art designed for Eleanor Roosevelt during his association with Cowan Pottery died yesterday. He was 101.
Schreckengost was born on June 26, 1906 in Sebring, Ohio, United States.
Schreckengost’s peers included the far more famous designers Raymond Loewy and Norman Bel Geddes.
In 2000, the Cleveland Museum of Art curated the first ever retrospective of Schreckengost’s work. Stunning in scope, the exhibition included sculpture, pottery, dinnerware, drawings, and paintings.
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Submitted by: Vikram KR
Are you looking for a high quality well-fitting wetsuit for ladies? You have come to the right place. Whether it is spring suits for summer or full suites for winter, we have got it all covered. We offer a large selection of womens spring suits and ladies wetsuits in a variety of styles and colors. Are you still confused about which would be the right pairing for you? Here is a detailed guide into the kinds of wetsuits and womens spring suits available, and how to care for them. Shop your wetsuit online to save precious surf time on your beach holiday.
Full suit
The full wetsuit for ladies is a full sleeved suit that is perfect for winter or very cold temperatures. Also, known as a Long Arm Steamer, it provides maximum warmth and is an absolute necessity for freezing weather. It also gives physical protection against rocks, shells and other sharp objects in the ocean to save your skin from nicks and cuts.
Spring suits
A shorty or spring suit for women is a shorter version of the full wetsuit. It comes with varying degrees of arm and leg coverage. A 2mm full sleeved spring suit would be perfect for light summers when the temperature varies between 15-18C or 60-65F. They are available with both back and front zipper options. For warm summers buy a short-sleeved spring suit in a light neoprene fabric. Take a look at corset spring suits that are highly form flattering and ideally shapes a womans figure.
You can easily shop for leggings, jackets, t shirts, long tops, crop tops and board shorts in neoprene fabric according to your own fit, functionality and warmth requirements. All wetsuits are available in vibrant colors and hip prints like tie and dye, animal prints and bold stripes. Protect yourself from cold weather or blasting sun in summer while still looking stylish.
Wetsuits are usually a very good investment and taking good care of your suit can make it last longer. Here are a few tips on post-surf care of your wetsuit to extend its lifetime and save bucks.
Give a good rinse
After a day in the water, give it a good rinse with plain cold water to get rid of all the saltwater, sand and grit from the wetsuit. Clean both the sides to wash off your sweat from the insides as well.
Protect the fabric from heat
Heat causes distress to neoprene. Always use cold or lukewarm water to wash your suit but never hot water. Dry your suit in the shade to protect the synthetic fabric from the harmful UV rays of the sun.
Dont machine-wash
Never put a neoprene wetsuit in a washing machine or machine dryer. Only hand wash the fabric and dry it naturally in shade. You can only use mild soaps specially made for wetsuit care to clean it well. But dont even think of using detergents, stain removers, fabric softeners or any other chemicals.
Use special hangers
To avoid permanent creasing of the fabric, lay it flat for drying and storage. You can use wetsuit hangers if youve got them but never use regular hangers to hang your suit.
Use ice cubes to remove surf wax
Surfers will obviously get surf wax from their surfboards onto their wetsuits. Use ice cubes to harden the wax and remove it easily without damaging the fabric underneath.
About the Author: Take your pick from a large selection of
us.glidesoul.com/en/
womens springsuit and
us.glidesoul.com/en/
ladies wetsuit keeping in mind the fit, thickness and style according to your preferences. Learn pro-surf care tips to make your suit last longer.
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Thursday, December 3, 2009
FIFA, the world governing body for association football, yesterday announced it was setting up a working group to conduct an inquiry into the introduction of assistant referees and technology into the world game, in the wake of the reactions to the controversial handball committed by French captain Thierry Henry during the 18 November France vs Republic of Ireland qualifying play-off game for the 2010 World Cup.
Yesterday, at the request of FIFA President Sepp Blatter, FIFA held an emergency meeting of its 24 member Executive Committee in Cape Town, to look into various issues which had recently affected the world game, including the Henry handball.
After the meeting, FIFA announced it will set up an inquiry to investigate the introduction of goal line technology and the global experimentation of using additional referee’s assistants to officiate during a match, already being trialled in Europe. FIFA did not however take the widely expected action of announcing there would be extra assistants in place for the upcoming 2010 World Cup, stating this was “too soon” to be made possible. Blatter also re-iterated his long-standing opposition to the adoption of video refereeing used in many other sports.
Blatter confirmed yesterday that Thierry Henry would be investigated by the FIFA Disciplinary Committee. Blatter also apologised to the FAI for his handling of their request to become the 33rd team at the 2010 World Cup.
There was a worldwide reaction after the Henry handball incident, which was missed by the referee Martin Hansson, with FIFA coming under pressure to make changes to avoid such a recurrence.
Henry’s illegal handball had led to the decisive goal being scored in the game by William Gallas, which saw France qualify for the World Cup ahead of the Republic of Ireland. The Irish football federation (“FAI”) first called on FIFA and the French for a replay, but this was rejected by FIFA. They later requested to be allowed to be given an extra place at the World Cup.
Yesterday, Blatter appealed to all players and officials that would be appearing in the upcoming 2010 World Cup to observe the principles of fair play. Henry had been criticised for admitting the handball after the game, but not informing the referee at the time.
File:2014 FIFA Announcement (Joseph Blatter) 6.jpg
Blatter said of the crisis in refereeing in the world game that:
The committee was of the opinion that we are at a crossroads: where shall we go with refereeing in the future? The game at the highest level is so tense that it is impossible for one referee and his assistants to see everything…The executive committee came to the decision that the referee is not any longer consistent with the quality and the speed of the game, and the interest of television and 32 cameras as we will have in the World Cup
To address these issues, FIFA announced they were going to set up a committee of inquiry to “look at technology or additional persons”. Blatter confirmed the inquiry would involve a cross section of FIFA personnel, involving the referee, football, technical and medical committees.
On the subject of assistant referees, FIFA said:
… the Executive Committee expressed its support for the current experiment of including two additional referees behind the goal lines. However, the committee stressed that it would be too soon to implement this new system at the 2010 FIFA World Cup South Africa
Blatter said FIFA was not ignoring the ongoing trials of extra assistant referees, which would continue in the Europa League into the 2010 knock-out stages, but the executive was of the opinion that with these trials only occurring on one continent, any experiment should “be carried out globally” before being adopted in a World Cup, and that the six months remaining until the 2010 World Cup starts was too short a time to prove any such system. The 2010 tournament, to be held in June and July, would instead remain with the normal FIFA appointed officiating team consisting of four officials led by the match referee.
On the issue of what types of technology might be investigated, Blatter confirmed that two companies looking at goal-line technology were due to report to the rule-making International Football Association Board (IFAB) in March. According to AFP, the meeting also ‘ruled out’ the adoption of the type of video refereeing as used in rugby, cricket and tennis.’, while Blatter stated such a system would ‘damage the flow’ of the game and “take away talking points”.
FIFA confirmed the FIFA Disciplinary Committee would “examine the case of Thierry Henry related to the play-off match”. Blatter said:
I have not said that Thierry Henry will be punished, I have said that Thierry Henry will be examined by the disciplinary committee of FIFA”, but he added “it was a blatant unfair playing and was shown all around the world, but I don’t know what the outcome will be, let them make the decision. Fair play must be maintained in our game
No timetable was given for when the Disciplinary Committee, headed by Swiss lawyer Marcel Mathier, might make their decision on Henry. According to the Associated Press, the committee has the ‘authority to impose a one-match suspension on Henry, which would take effect at the start of the World Cup in June.’ According to the BBC, there was no certainty that Henry would even be banned if found guilty.
After FIFA rejected an Irish request for a replay of the game, the FAI had asked Sepp Blatter to privately raise the issue at the FIFA meeting of whether the Irish could be entered into the 2010 World Cup as a 33rd team. According to the BBC, the FAI ‘knew all along that there was very little chance of their request being granted but had decided to make it anyway on principle’. The FAI withdrew it before the meeting, after Blatter made their request public during his opening address of the Soccerex conference in Johannesburg on 29 November. Blatter yesterday apologised to the FAI for how he had handled their request, saying:
In this connection I would like to express my regrets – my regrets to a wrong interpretation of what I have said in the Soccerex. I have only announced they have asked it, but the presence in the Soccerex they don’t took it very, I would say, seriously. So I regret what I have created and especially towards the Irish Football Association, I am sorry about these headlines going around the world. Contrary I have nothing against the Irish, they were very sporting people when they came to FIFA and it is a pity that it has been now communicated in this way. Sorry again.”
Thursday, August 16, 2007
The name Robert Cailliau may not ring a bell to the general public, but his invention is the reason why you are reading this: Dr. Cailliau together with his colleague Sir Tim Berners-Lee invented the World Wide Web, making the internet accessible so it could grow from an academic tool to a mass communication medium. Last January Dr. Cailliau retired from CERN, the European particle physics lab where the WWW emerged.
Wikinews offered the engineer a virtual beer from his native country Belgium, and conducted an e-mail interview with him (which started about three weeks ago) about the history and the future of the web and his life and work.
Wikinews: At the start of this interview, we would like to offer you a fresh pint on a terrace, but since this is an e-mail interview, we will limit ourselves to a virtual beer, which you can enjoy here.
Robert Cailliau: Yes, I myself once (at the 2nd international WWW Conference, Chicago) said that there is no such thing as a virtual beer: people will still want to sit together. Anyway, here we go.
Monday, September 3, 2007
Peace talks between between Sunnis and Iraqi Shi’ites in Finland aimed at ending sectarian violence in Iraq have ended.
The talks, organized by Finnish non-profit NGO WCrisis Management Initiative (CMI), took place over four days in a secret location in Finland. The discussions were aimed at demonstrating to the two sides what lessons could be learned from successful peace talks in Northern Ireland and South Africa, and were attended by more than 30 participants, of whom 16 were from Iraq and the rest from Northern Ireland and South Africa.
The CMI has now released a document called the “Helsinki Agreement”, detailing agreements reached between the two groups to work collaboratively to achieve common goals democratically and without violence. One key recommendation in the Helsinki Agreement, which one Northern Irish lawmaker Jeffrey Donaldson described as a “road map” to Iraqi peace, is that the groups will disarm, and that the disarmament process will be overseen by an independent, neutral organization to ensure it is conducted “in a verifiable manner”.
Martin McGuinness, former Provisional Irish Republican Army leader and now Deputy First Minister of Northern Ireland, was also present in the talks, as were other former enemies from both sides of the former divide in Northern Ireland. South African representatives included African National Congress activist Mac Maharaj and National Party reformer Roelf Meyer. Although no Iraqi participants have been positively identified, reports suggest they included representatives of the radical Shiite cleric Muqtada al-Sadr, the leader of the largest Sunni Arab political group, Adnan al-Dulaimi and Humam Hammoudi, the Shiite chairman of the Iraqi parliament’s foreign affairs committee.
Another vital agreement reached was that the groups would unite against militia groups, forming “an effective national force,” and encourage armed organizations “not classified as terrorist” to instead adopt “peaceful political means”, the reward for which would be positions within the state administration.
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byAlma Abell
When you have a doggie for the first time, you quickly learn that you there is more to taking care of that doggie than just feeding it. Many people will look at you like you are insane if you mention the Doggie daycare in Odenton to them or any doggie daycare at all really. Dogs are not to be put in daycares; they are not children and can behave and be fine just fine by themselves for a few hours a day.
There are some pet parents that simply do not believe that however and tough the Doggie daycare in Odenton and everywhere else is relatively new, you can be sure there are plenty of pet parents out there that get their dogs up and ready to go to daycare in the mornings on their way to work.
Of course, as with any other type of daycare there are pros and cons to this kind as well. Read on for a few of the pros and cons of the doggie daycares in your area.
Pros of Doggie Daycares
* The fact that your dog doesn’t have to stay in a lonely house all day long is one of the main reasons that people put their dogs in daycare. You would not want to be stuck in a house all day long with no one to talk too and your puppy doesn’t appreciate it either.
* Safety is also a major concern for pet owners. If there is a fire, you pet lacks the skills to get out of the home. If the pet is safe in daycare then you don’t have to worry about it.
* Wear and tear on your home is another good reason for doggie daycare. Pets that are left alone tend to get into trouble. You can save a lot of tear on your furniture by putting Fido in daycare when you are gone.
Cons of Doggie Daycares
* The only real cons seems to be the fact that some dogs get overly stimulated and are hard to calm down when they get home.
Doggie daycares have become an option that many pet owners are exploring these days. For more information, visit GambrillsVeterinaryCenter.com today.