Author: James Paolucci

Private Business Lenders

What are Private Business Lenders and Private Business Funding?

Real estate investing is big money. But not every entrepreneur qualifies for loans from big banks, and other traditional sources. Not to worry, there are private lenders out there, willing to lend money. Private money business loans just might be the solution you’re looking for – from private business lenders.

What are Private Business Lenders?

Private business lenders are generally funded by investors, or by banks, or both. Private lenders are in the business of taking funds from private investors. They make private business purpose loans with those funds.

Investors expect a decent return from their investments, and interest rates from money borrowed from banks is significantly higher, than the banks are being charged for the funds. These factors raise the private lender’s expenses. Those expenses are then passed on to the ultimate borrower. Unlike with angel investing or venture capital, the borrower isn’t giving away a percentage of ownership.

Why Work with Private Business Lenders?

Apart from possibly not qualifying for traditional lending, there are other reasons why it may be better to work with a private lender. Banks are often tougher to deal with than private lenders. Banks are subject to significant state and federal regulations. They must work within governmental and quasi-governmental agency programs, like Fannie Mae, Freddie Mac, the VA, and HUD. These regulations often dictate which businesses a bank can lend to, and what borrower profiles should look like.

Private business lenders, while still subject to state and federal laws, are significantly less regulated. They can be more flexible in the types of loans they make, and who their customers are.

Hence is it generally easier to get approval from a private lender, versus a traditional bank. Private lenders can customize each loan based on a set of internally set criteria, like credit scores, loan to value ratio, and debt to income levels.

Learn business loan secrets and get money for your business.

Bank Approvals are Different

In contrast, bank approvals are program or computer driven. The lender only has a little discretion. Private lenders tend to take a more common sense approach, to understanding borrower issues and overcoming them.

Banks tend to look at financial histories and credit through easily traceable and documented income sources. This makes it very difficult for self-employed borrowers, for example, to qualify for bank loans.

Private lenders will be more creative, and investigative in qualifying income. They may be willing to overlook background flaws upon explanation. See rehabfinancial.com/real-estate-investment-strategy/financing-real-estate-investments/private-lender-vs-a-bank-mortgage.

Consider Private Lenders and Hard Money Loans

A hard money loan is a type of real estate loan. It is issued by a private lender for non-owner occupied property. Hard money loans are usually short term. They tend to be between six and 36 months. They have a higher interest rate than traditional bank loans.

Let’s look at Hard Money Loan Approvals

You get approval for hard money loans based on the value of the real estate, rather than the creditworthiness of the borrower. These loans are often used because they have an exceptionally fast approval time. They are often closed within two to four weeks.

What is the Difference Between Hard Money Loans and Bank Loans?

The main difference is the lender. Hard money loans are almost always given by a private lender. This is so whether that’s an individual or a private lending company. These loans are used for non-owner occupied real estate. So they aren’t regulated like consumer mortgages. As a result, hard money lenders can charge higher interest rates and fees, and they can get away with terms that wouldn’t be allowed with traditional loans.

The Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) don’t often apply to commercial mortgages. But there are still regulations traditional financial institutions must follow. Federally insured banks are still regulated by the FDIC. Credit unions are regulated by the National Credit Union Administration (NCUA). But hard money lenders don’t have any regulations placed on them.

What Sorts of Real Estate is Covered by Private Money Financing?

A hard money lender may loan on any type of non-owner occupied real estate. This includes all sorts of real estate investments. But they’re often looking for situations with a fairly quick exit strategy, so they know they’ll get paid by the end of the loan term.

Let’s look at Private Small Business Loans for Fix and Flip Properties

Hard money loans are very common with fix and flip properties. In fact, many lenders will even finance the repairs. These types of deals are ideal for the lender because flips tend to be completed within six months.

If the lender is also financing the repairs, they will estimate the cost of the repairs, and issue draws as the borrower needs them to pay for the work being done. This ensures the funds are being used for the repairs. It also limits the lender’s exposure, since they’re only giving out a small amount of money at a time.

Learn business loan secrets and get money for your business.

Check out Hard Money for Repairs

Many hard money lenders prefer to finance the repairs. This way, they know the project will be completed. If the borrower gets through the demolition and runs out of money, the value may become less than the purchase price. By financing the project, they don’t have to worry about the borrower not being able to finish the job due to a lack of funds.

Consider Hard Money for Rentals

Hard money lenders will also provide short-term loans for residential real estate investment properties. The goal here is often to refinance the property in 12 to 36 months, to be able to pay off the hard money loan. Investors may use a hard money loan for a rental property if they need to be able to close the deal quickly, and don’t have the time to go to a bank. Or they may need a private loan if the rental property needs repairs before a bank will finance the deal.

Let’s look at Hard Money for Multifamily Properties

Like loans for rental properties, investors may need capital quickly to close on a multifamily property. This is the case if there’s not enough time to go through the traditional lending process. Private money lending is just plain faster.

An investor may also be buying a multifamily property with little to no tenants that needs a lot of repairs. This type of property would be hard to get financed with a bank, so they may seek out a hard money loan. Investors can get the necessary work done. And they can lease the property before refinancing it with a long term loan.

Consider Hard Money for Commercial Real Estate

A common situation with commercial real estate is an investor having a tenant to lease space to, but no property to put them in. The investor will find a vacant property that the tenant will lease out, but they have to buy the property and get it ready for the tenant first.

A bank may not want to finance a vacant property intended for use as an investment if the borrower doesn’t have the assets to secure the loan. A hard money loan can be useful in this situation to get the deal done. The investors can accomplish the tenant improvements and get the property leased. Once the tenant is in place and paying rent, a bank will be more willing to finance the real estate.

Check out Interest and Fees on Hard Money Loans

The convenience and easy approval with a hard money loan comes at a cost. Lenders will charge higher interest on hard money loans. This is because they are higher risk loans. It is also because these loans are short term.

Longer term loans will earn interest for several years from processing one loan. But the money invested in hard money loans must be reinvested every six to 36 months. There’s added cost and new risks each time that money is invested in a loan. Interest rates for these loans tend to be a few percentage points higher than traditional bank loans.

Learn business loan secrets and get money for your business.

Check out Hard Money Fees

The lender will charge upfront fees to cover the cost of processing the loan, plus any commissions being paid. This also ensures they still earn a profit; in case the borrower pays off the loan before the end of the term.

Common fees for a hard money loan include origination fee, broker fee, application fee, underwriting fee, document prep fee, processing fee, and funding fee. These fees can add up to thousands of dollars.

Consider Credit Checks and Property Values

In general, private lenders are going to be all right with average credit. Their main concern is the value of the property. Plus a lender wants to know the market the property is in. This is due to higher risk. The lender wants to be able to recover their costs in case of foreclosure. See fool.com/millionacres/real-estate-financing/hard-money-loans/5-best-hard-money-lenders.

More Details on Private Small Business Loans and Hard Money Loans

There is a balloon payment at the end of the short term. For fix and flip, the lender knows the borrower can afford the balloon payment. But in the case of a borrower looking to refinance the property by the end of the term, the may not be as willing to lend to someone with bad credit. They will look closer at the borrower’s credit and personal finances in this case. The lender may also require a higher down payment to limit their risk in case the borrower can’t pay the lender off at the end of the term.

Private lenders for business loans will look into a borrower’s experience. For a fix and flip, private business lenders will want borrowers who have completed at least a few other deals. Smaller lenders usually stick to markets they know and states that have a strong real estate market. They often don’t like rural properties and provide a lower loan to value for them.

Private Money Financing: Takeaways

Private money financing is a way for real estate investors and house flippers to get funding. Also called hard money loans, private money financing tends to have fast approvals, but higher interest rates and no regulation to speak of. Experienced flippers in urban areas with good real estate markets are more likely to get approval.

The post Private Business Lenders appeared first on Credit Suite.

The post Private Business Lenders appeared first on Business Marketplace Product Reviews.

Repl.it is hiring to change how people code

Article URL: http://repl.it/careers

Comments URL: https://news.ycombinator.com/item?id=26104000

Points: 1

# Comments: 0

The post Repl.it is hiring to change how people code appeared first on ROI Credit Builders.

The Restaurant Lockdown Massacre

New shutdown orders punish minorities and low-income workers.

New comment by Dsuniga14 in "Ask HN: Who is hiring? (October 2020)"

Qualia | Fullstack ENGINEERING MANAGER | San Francisco, CA | Full-time, Salary + Options

Qualia (qualia.com) is a startup making web applications for real estate professionals. We have raised over 95M in total funding, have not stopped hiring throughout COVID and are actively looking to add 50 folks to the team before the end of the year.

We are making it easier to buy and sell homes by taking the process online.

Solving the real estate coordination problem makes for some really fun engineering and design challenges, and opportunities to make the process better for everyone involved.

About US:
– Well funded with years of runway
– Own 20% of a 40 Billion dollar industry
– Actively hiring during a world recession
– Personal and Career Growth opportunities
– 5X revenue Growth last 18 months
– All 3 Founders are Forbes 30 Under 30 Award recipients
– Recently named as one of the best startup employers in 2020.
-Named one of the “50 Future Unicorns” by CB Insights and Fast Company.

Contact David at David.Sunigaqualia.com!

The post New comment by Dsuniga14 in “Ask HN: Who is hiring? (October 2020)” appeared first on ROI Credit Builders.

The post New comment by Dsuniga14 in "Ask HN: Who is hiring? (October 2020)" appeared first on Business Marketplace Product Reviews.

New comment by wrpower in "Ask HN: Who is hiring? (September 2020)"

CenturyLink | CDN Engineers | US/CO, AZ, CA | Full Time | https://jobs.centurylink.com/search/

Looking for Engineers to join our growing CDN team. Ideal candidate would have a CS (or similar) background. CDN experience is a plus but not a must for the right candidate.

Multiple projects areas: Kernel networking, Application performance/latency optimization, DNS, CI/CD pipeline, Test automation, Data analytics.

Great opportunity to work on Internet Scale systems within a strong technical team.

DM your resume if interested.

The post New comment by wrpower in “Ask HN: Who is hiring? (September 2020)” appeared first on ROI Credit Builders.

Big Tech's Antitrust Paradox

The post Big Tech's Antitrust Paradox appeared first on #1 SEO FOR SMALL BUSINESSES.

The post Big Tech's Antitrust Paradox appeared first on Business Marketplace Product Reviews.

Get the Best Business Cash Back Credit Cards

Get the best business cash back credit cards here! Pick from our wide selection and get what you and your business need.

Where are the Best Business Cash Back Credit Cards?

We researched the best business cash back credit cards – and more – for you. So, here are our selections.

Per the SBA, company credit card limits are a massive 10 – 100 times that of personal credit cards!

This shows you can get a great deal more funds with company credit cards. And it likewise reveals you can have personal credit cards at shops. So, you would now have an additional card at the same shops for your company.

And you will not need collateral, cash flow, or financials to get business credit.

The Best Business Cash Back Credit Cards: Benefits

Benefits can vary. So, make sure to pick the benefit you would like from this selection of alternatives.

Best Business Cash Back Credit Cards

Best Business Cash Back Credit Cards for Flat-Rate Rewards

Capital One ® Spark® Cash for Business 

Check out the Capital One® Spark® Cash for Business. It has an introductory $0 annual fee for the first year. Afterwards, this card costs $95 each year. There is no introductory APR offer. The regular APR is a variable 18.49%.

You can get a $500 one-time cash bonus after spending $4,000 in the initial three months from account opening. Get unlimited 2% cash back. Redeem at any time without minimums.

You will need good to exceptional credit to qualify.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-cash/

Best Business Cash Back Credit Cards Credit Suite

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Best Business Cash Back Credit Cards for Flat-Rate Rewards and No Yearly Fee

Discover it® Business Card

Take a look at the Discover it® Business Card. It has no annual fee. There is an introductory APR of 0% on purchases for 12 months. Then the regular APR is a variable 14.49 – 22.49%.

Get unlimited 1.5% cash back on all purchases, with no category restrictions or bonuses. They double the 1.5% Cashback Match™ at the end of the first year. There is no minimal spend requirement.

You can download transactions| conveniently to Quicken, QuickBooks, and Excel. Note: you will need great to exceptional credit scores to receive this card.

https://www.discover.com/credit-cards/business/

Best Business Cash Back Credit Cards for Bonus Categories

Ink Business Cash℠ Credit Card

Take a look at the Ink Business Cash℠ Credit Card. It has no yearly fee. There is a 0% introductory APR for the initial year. Afterwards, the APR is a variable 14.74 – 20.74%. You can get a $500 one-time cash bonus after spending $3,000 in the first 3 months from account opening.

You can earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year.

Get 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases. There is no restriction to the amount you can get.

You will need exceptional credit to receive this card.

Find it here: https://creditcards.chase.com/business-credit-cards/ink/cash?iCELL=61GF

Best Business Cash Back Credit Cards with Boosted Cash Back Categories

Bank of America® Business Advantage Cash Rewards MasterCard® credit card

Take a look at the Bank of America® Business Advantage Cash Rewards MasterCard® credit card. Get an 0% introductory APR for the first 9 billing cycles of the account. After that, the APR is 13.74% – 23.74% variable. There is no annual fee. You can get a $300 statement credit offer.

Get 3% cash back in the category of your choice. So these are gasoline stations (default), office supply stores, travel, TV/telecom & wireless, computer services or business consulting services. Get 2% cash back on dining. So this is for the initial $50,000 in combined choice category/dining purchases each calendar year. Then get 1% after, with no limits.

You will need exceptional credit scores to qualify.

Find it here: https://promo.bankofamerica.com/smallbusinesscards2/ 

Secure Company Credit Cards for Fair Credit

Capital One® Spark® Classic for Business

Check out the Capital One® Spark® Classic for Business. It has no annual fee. There is no introductory APR offer. The regular APR is a variable 24.49%. You can get unlimited 1% cash back on every purchase for your company, without minimum to redeem.

While this card is within reach if you have average credit, beware of the APR. However if you can pay promptly, and in full, then it’s a good deal.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-classic/

Best Business Cash Back Credit Cards Credit Suite

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

Exceptional Company Credit Cards with No Yearly Fee

No Yearly Fee/Flat Rate Cash Back

Ink Business Unlimited℠ Credit Card

Have a look at the Ink Business Unlimited℠ Credit Card. Beyond no annual fee, get an introductory 0% APR for the initial twelve months. After that, the APR is a variable 14.74 – 20.74%.

You can get unlimited 1.5% Cash Back rewards on every purchase made for your company. And get $500 bonus cash back after spending $3,000 in the initial 3 months from account opening. You can redeem your rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®. You will need outstanding credit scores to qualify for this card.

Find it here: https://creditcards.chase.com/business-credit-cards/ink/unlimited 

Small Business Credit Cards with a 0% Introductory APR – Pay Zero!

Blue Business® Plus Credit Card from American Express

Take a look at the Blue Business® Plus Credit Card from American Express. It has no annual fee. There is a 0% introductory APR for the initial 12 months. Afterwards, the APR is a variable 14.74 – 20.74%.

Get double Membership Rewards® points on everyday business purchases like office supplies or client suppers for the initial $50,000 spent each year. Get 1 point per dollar afterwards.

You will need great to exceptional credit to qualify.

Find it here: https://creditcard.americanexpress.com/d/bluebusinessplus-credit-card/ 

 American Express® Blue Business Cash Card

Also check out the American Express® Blue Business Cash Card. Keep in mind: the American Express® Blue Business Cash Card is identical to the Blue Business® Plus Credit Card from American Express. However its rewards are in cash rather than points.

Get 2% cash back on all eligible purchases on up to $50,000 per calendar year. After that get 1%.

It has no annual fee. There is a 0% introductory APR for the initial 12 months. After that, the APR is a variable 14.74 – 20.74%.

You will need good to excellent credit scores to qualify.

Find it here: https://creditcard.americanexpress.com/d/business-bluecash-credit-card/ 

Flexible Financing Credit Cards – Take A Look at Your Options!

The Plum Card® from American Express

Have a look at the Plum Card® from American Express. It has an initial yearly fee of $0 for the first year. After that, pay $250 each year.

Get a 1.5% early pay discount cash back bonus when you pay within 10 days. You can take up to 60 days to pay without interest when you pay the minimum due by the payment due date.

You will need great to superb credit scores to qualify.

Find it here: https://creditcard.americanexpress.com/d/the-plum-card-business-charge-card/ 

Irresistible Cards for Jackpot Rewards That Never Expire

Capital One® Spark® Cash Select for Business

Take a look at the Capital One® Spark® Cash Select for Business. It has no yearly fee. You can get 1.5% cash back on every purchase. There is no limit on the cash back you can get. And get a one-time $200 cash bonus as soon as you spend $3,000 on purchases in the initial three months. Rewards never expire.

Pay a 0% introductory APR for 9 months. Then pay 14.49% – 22.49% variable APR afterwards.

You will need good to outstanding credit scores to qualify.

Find it here: https://www.capitalone.com/small-business/credit-cards/spark-cash-select/

Best Biz Cash Back Credit Cards Credit Suite

Establish business credit fast with our research-backed guide to 12 business credit cards and lines.

The Best Business Cash Back Credit Cards for You

Your outright best business cash back credit cards hinge on your credit history and ratings.

Only you can pick which features you want and need. So, make certain to do your research. What is exceptional for you could be catastrophic for another person.

And, as always, ensure to develop credit in the advised order for the best, fastest benefits.

The post Get the Best Business Cash Back Credit Cards appeared first on Credit Suite.

HSBC Throws Support Behind Hong Kong Security Law

10 How-to-Podcast Youtube Channels To Follow in 2020

Top 10 How-to-Podcast Youtube Channels

Submit Your Channel

SUBMIT CHANNEL

How-to-Podcast Youtube Channels

Buzzsprout

Jacksonville, Florida, United States About Youtuber At Buzzsprout, we’re passionate about helping independent podcasters find their voice and connect with their listeners.
Frequency 2 episodes / week
Since Dec 2013
Channel youtube.com/channel/UCbaD..

Javier Mercedes

Javier Mercedes Austin, Texas, United States About Youtuber On this channel you will find Adobe Premiere Pro tutorials, video podcasting tips, video tech and camera reviews, and video podcast interviews with some of the best creators and entrepreneurs. I aim to give you actionable, time-saving, practical, and profitable advice towards creating better videos for you, your brand, or your clients.
Frequency 1 episode / week
Since Oct 2011
Channel youtube.com/user/GubeStuff/v..

Anchor

Anchor New York, United States About Youtuber Anchor.fm is the easiest way to start a podcast, ever. Record a high-quality podcast, host unlimited episodes, and distribute everywhere with just one click.
Frequency 2 episodes / month
Since Feb 2016
Channel youtube.com/channel/UCz4i..

Colin Gray

Colin Gray Dundee, Scotland, United Kingdom About Youtuber I’m the founder of The Podcast Host Ltd, and this channel mostly hosts my workaround podcasting, audio production, video, online business and speaking.
Frequency 2 episodes / week
Since May 2008
Channel youtube.com/user/colinmcgray..

Podcast.co

Podcast.co United Kingdom About Youtuber Podcast.co is the best place to start your own podcast. Discover what you need to know to grow your listeners with all the best tools required for podcasting.
Frequency 3 episodes / month
Since Jan 2018
Channel youtube.com/channel/UCwoQ..

Podsense by Crate Media

Podsense by Crate Media Columbus, Ohio, United States About Youtuber Cody David Boyce is a podcast producer and the owner of Podcast Masters from Columbus, OH.
Frequency 1 episode / week
Since May 2008
Channel youtube.com/user/cdbboyce/vi..

David Jackson

David Jackson Ohio, United States About Youtuber Dave Jackson is an Award-Winning Hall of Fame Podcasters who launched the School of Podcasting in 2005. He is a featured/keynote speaker, author, and podcast consultant. The School of Podcasting features online courses, group coaching, and a safe and supportive community where you can plan, launch, and grow your podcast.
Frequency 2 episodes / week
Since Jun 2009
Channel youtube.com/user/personalpod..

PodcastLaunchLab

PodcastLaunchLab United States About Youtuber The Podcast Launch Lab channel helps Entrepreneurs and Marketers launch successful podcasts! Looking to start a podcast? You’ve come to the right place. New episodes drop every week!
Frequency 1 episode / week
Since Mar 2019
Channel youtube.com/channel/UCmi5..

All About Podcast

All About Podcast Philippines About Youtuber I’m here to create podcast tutorials to: Create simple how to’s to help podcasters do their post-production and editing, provide creative tips to get your podcast to more ears and audiences, help you find ways to be more efficient in your podcast workflow, recommend tools, gears, software to better podcasting, and share the latest and best deals on podcasting
Frequency 1 episode / quarter
Since Dec 2014
Channel youtube.com/channel/UCqyS..

Transistor Podcasting

Transistor Podcasting Chicago, Illinois, United States About Youtuber Transistor.fm is a professional podcast hosting and analytics platform.
Frequency 1 episode / week
Since May 2018
Channel youtube.com/channel/UCY-R..

The post 10 How-to-Podcast Youtube Channels To Follow in 2020 appeared first on Feedspot Blog.

Home Loan Borrowing Tip – Length of Loan

Home Mortgage Borrowing Tip – Length of Loan

When obtaining cash for a home mortgage, buyers are mostly interested in just certifying. Still, taking note of the size of the lending is a loaning pointer that can conserve you a lots of cash.

House Loans

In the home loan market, the size of your lending made use of to be the only significant problem you had to deal with. Of training course, the substantial boost in financing choices has actually unavoidably led to substantial complication.

Loaning Tip

Despite the kind of financing you select, you need to constantly attempt to maintain your car loan term as brief as feasible. The much shorter the funding duration, the much less you will certainly pay in passion. Below an instance making use of 15 and also 30 year fundings.

Think our very first buyer obtains a $100,000 financing at 8 percent passion. He size of the finance is 30 years with a regular monthly settlement of $733.76. For this home loan, our property buyer is mosting likely to pay $164,155.25 in rate of interest over the life of the financing.

Currently, take the exact same situation, yet decrease the term of the lending to 15 years. Over the size of the funding, our buyer is going to pay $90,000 much less in passion settlements over the life of the lending.

When obtaining cash for a house acquisition, you need to thoroughly spending plan your funds. If you can manage enhanced month-to-month repayments, nonetheless, a much shorter lending size is mosting likely to conserve you a great deal of cash with time.

In the home mortgage market, the size of your financing made use of to be the only significant concern you had to deal with. No matter of the kind of finance you go with, you need to constantly attempt to maintain your funding term as brief as feasible. He size of the financing is 30 years with a month-to-month repayment of $733.76. Over the size of the car loan, our property buyer is going to pay $90,000 much less in rate of interest settlements over the life of the lending.

The post Home Loan Borrowing Tip – Length of Loan appeared first on ROI Credit Builders.