How A Business Loan Helps Business People
Overview:
Becoming a self-employed businessman is a great reputation in the society but the problems faced by the entrepreneurs from the day one of their business is enormous. It is a great challenge for a person to overcome all obstacles to become a successful businessman. The numerous problem faced by all is finance. Even great entrepreneurs of various industries have struggled a lot of financial crisis for setting up their business and to run their daily business operations. Thus finance plays a major role in the life of business people. Great ideas require the necessary financial support to bloom into a successful business.Introduction:
There are various sources for business people to raise capital for their business. The most trusted source is from banks. There are various reasons why people choose banks as the best source for raising capital for their business. Banks provide a lower cost of funds in the form of Business Loans. There are various types of business loans at differential interest rates to facilitate business people to solve their financial crises.Types of Business Loans:
Businesses are of different types and need finance at different stages of their business operations. The need also being different, banks help them in providing different types of business loans helping various small and medium enterprises to raise capital.New Project Loan – Banks are interested in funding for new businesses and also for new projects of existing business. There are various criteria for getting new project loan and differs from bank to bank. Project loans are approved against the collateral of the person like residential property, commercial property or empty land.Top-up on Existing Loans – These loans are issued for expansion, replacement, diversification of an existing business. These loans are approved for short term or long term basis to buy goods, machinery or any fixed assets for the company.Working Capital Loans -These loans are provided for the business to solve sudden financial crises and repaid within short durations. Banks are more interested in providing working capital loans against their inventories, stocks or receivable bills of the company.Secured Business Loan – Business loans in which companies raise their capital against any security for the bank. It may include plot, residential or commercial places, gold, shares, bills, insurance as collateral to get funds for their business. The interest rate is preferably less.Unsecured Business Loan – Every businessman cannot afford to pledge a security in getting the business loan, so bankers help them with loans without any security based on bank transactions and income tax returns. These loans are charged with more interest rates when compared to secured business loans.Requirements of the Banks:
There are various steps and procedures followed by banks to provide funds. The procedure and documents to be submitted to the banks as followsIdentity and address proof of the company – Address proof and identity proof of partnership or proprietor business.Statutory legal registration of the company – Whether the company is legally registered under government norms and have followed all procedures legally in setting business.Financial statement of the company – Every bank is interested in seeing the recent 1-year business transaction of the company.Income tax returns – ITR helps the bankers to check the business performance, efficiency level, assets and liabilities of the company and also tax that company pays from their current earnings. This also plays a major role in deciding the loan amount for the business people.Financial Security – It includes the fixed and movable assets of the company which helps the banker to consider providing business loans based on the asset value along with the business transactions. This also safeguards banks from the failure of businessmen that fail to repay the loan amount.Previous Loan track – This is a very important factor considered by banks which will help them evaluate the financial condition of the business and also to check on past repayments on loans.Litigation – It will help banks assess the character of businessmen before providing a business loan.Takeaway:
Though business loans are found to be a great source for raising capital, businessmen undergo challenge in getting timely funds from the banks. In order to help them in availing timely loans, even NBFC is also now prepared to help them with funds at various stages of their business. Banks & NBFC have also made the lending process easy, with all verification done in shorter time-span, doorstep assistance in collecting documents etc. Businesses with good cash flows & credit score can avail timely funds with much ease.
Cheapest Airline Tickets – How to Find Best Travel Deals
So you are in the market for cheap airline tickets, but not sure where to start and how to find the best travel deals. The reality is that in order to find the cheapest flight fares and schedules you need to know when and where to look and how to search. Yes, it is that easy, and all you need to know is several tricks. First of all, do you need a domestic or an international travel ticket?Domestic Air TravelThese can be US domestic flight or flights within Europe, or within any country or other continent. If you are looking great flight deals, you need to know WHERE to look for low airfares. If you are looking for flights within the US, you may contact local US airlines or travel agencies or look up flights on the online travel search engine.Airlines compete among each other and they can give great flight deals (just know WHEN to look). Travel agencies might also find you great deals. Here is the truth… lately several airlines and several large and well known travel agencies started having some issues and several airline banned those huge agencies from selling their airline tickets. Therefore, small and specialized agencies still do have very good contracts with major airlines of the world. So, my advise is to look who has the best flight deal, not at the size of the agency or the popularity. At the end of the day, it matters how much you pay for the ticket and that you have a confirmed seat.Most smaller travel agencies have online only booking so they can save YOU money by eliminating staff salaries. Most of the time travel agencies use the same fares as airlines offer (unless negotiated better rates), but usually with 0 commission. Since agencies need to survive, they are forced to add a small service fee on the top of the ticket price. If you do not mind that, call your travel agent or best of all go online and check flights yourself. If you are traveling within Europe, you might want to contact a travel agent or search online travel agents’ websites first. In Europe local travel agencies and agencies outside Europe that specialize in international travel will have low fares because they use very low so called consolidator fares. This is nothing else, but negotiated contracts with airlines to sell special very low priced airline tickets.International TravelWhether you live in the US or other country, you travel internationally if you leave your country of residence.What concerns transatlantic, transpacific or other between countries international travel, your best bet is a travel agency. The consolidators will offer you the best fare deals and will find you the best schedules. Depending on personal preferences, some might prefer talking to a travel agent, while others would want to do their own fare search online at their own pace. There is no right or wrong choice here. As long as you find a flight and a fare that works for you, you succeed. HOW to find a travel agency or a good travel website Always work with the travel agent or travel website that specializes in your travel destination or region. For example, if you need to fly from the US to Europe, search for ‘flights to Europe’ or so. Usually online search will give you best results. Check several websites or call several travel agents and compare the deals.NOTE, you might know lots of huge agencies like Travelocity, Orbitz, etc. They might seem attractive to you because they are big and well known. But they will not always give you the best flight, hotel or cruise deals. They might be good for US domestic travel, but not always for international travel.HOW and WHEN to search for best faresWhere you need a flight, hotel or a cruise, you need to know how to find the best fares and when to look for those. Let’s say that you found a travel agent or travel website that specialized in your travel destination.5 tips on How to Find your Best Travel Deal:
Be Flexible. In order to find lowest price, you might need to be flexible on travel dates, arrival/departure times, airlines, and sometimes destinations. In short, there are different price levels for every flight and the only difference is the price and number of seats an airline assigns to that price level. Therefore, all depends on when you buy a ticket, how popular is the destination, travel season (peak or low), and how full the flight gets.
Book domestic travel tickets as early as you can (this applied to some international travel as well). Most domestic airlines have best fares with 21, 14, and 7 day advance purchase. This means that you may find lower fares when booking (= purchasing) a flight this many days before the flight.
‘Play’ with the search. This means that you need to be creative when searching for flights. Check flights couple days or weeks (if possible) earlier and later, check various airlines, different connections (an airline might have several hubs or fly with 1 or several connections), search based on price and try searching based on schedule (you’ll see different results).
Check travel package deals. If the purpose of your travel is vacation, instead of booking flights, hotel, and car rental separately, check on travel package rates. Sometimes your total package rate is lower that if you book everything separately.
Use miles or points when possible. Apply for airline/ hotel/ car rental, etc. frequent traveler programs. They are FREE, and you can get lots of benefits. For example, I cannot remember the last time I paid for a hotel room when Hilton Hotel is in my destination. Check out hiltonhhonors.com website. Go to the airline, car rental, or hotel websites and sign up. The only disadvantage of using miles and points is that you need to book your travel early as there is limited number of seats for miles or points on the plane and they go fast.If you cannot decide whether to use an airline or a travel agent, here are some suggestions.AIRLINE vs. TRAVEL AGENT/AGENCY WEBSITE Advantages of booking a ticket with an airline:
you are talking directly to the carrier, the entity responsible for a flight
it may take much less time to deal with the airline directly (if an agent knows his/her job)
airline customers representatives are usually open 24/7Advantages of using travel agents or travel websites:
lower negotiated (consolidator) fares
more flight options; travel agents/travel websites search all possible airlines, not just one
low fares available 24/7 given that an agency has a online booking systemPlease send in your comments on how you find your best deals, and I shall be happy to share them with the rest of the world. Good luck!
National Health Care System In Japan And Taiwan – Would It Be Possible For Us?
Every society is affected by any national changes or new movement introduced; therefore, an issue one may think is unrelated to his environment can very well affect him through chains of cause and effect.Health care is an immediate issue that concerns all of us. We all experience it and need it. Let’s serious ask ourselves if the current health care system is satisfactory and available to everyone. Should health, medicare and treatments be available to only selected groups? Many people are voting for the presidential candidate who can restore the present health care system or who can pioneer a better healthcare distribution for our country. Personally, I hope to see a change that health care is available and affordable to everyone.Being able to receive basic health care is a fundamental need of all people. Fulfilling this fundamental need makes people feel secured, and it makes sense that people with better health can contribute more to the society. A realistic and reachable standard of health should be set for all people. This effort needs a non profit driving entity to establish and to maintain it. People’s life and health should not be compromised for the profit of few organizations.Before moving to Japan, I was covered under my parents’ insurance policy in the United States. Their policy covered children of the family until the age of twenty-four. Upon graduating from university, I moved to Japan and started my first job there. I joined the Japanese national health insurance through the company I worked for. There are basically two types of health insurance in Japan: national health insurance and employer-sponsored health insurance. Usually, under employer sponsored insurance, the insurance premium is calculated according to income, number of dependents, and the company’ subsidies. For someone who is self-employed or unemployed, the national health insurance costs a minimum of 13300 yen, or about $110 per month plus a small percentage of income for those who are self-employed. In other words, everyone can get insurance from around $100 dollars a month. Unlike the Medicaid program in the U.S. which is only available to certain low-income groups with specific requirements for eligibility, the Japanese health insurance is available to every citizen and legal residents. There is a ceiling to what the Japanese National insurance covers, but it covers all the basics and beyond.In most cases in Japan, patients choose their doctor and hospital. There is no limitation to the doctors or hospital they can visit. This is a true competition among the clinics, hospitals, and medical practitioners, not for profit, but for quality. The same insurance that people have in Japan gives them the freedom to get second opinions and naturally eliminates those doctors whose practices are in question. The doctor visits, treatments, and medicine are not free; one is responsible for thirty percent of their medical bills. Japanese health costs are much lower than the costs in the United States. Thirty percent of the medical bill is still a reasonable amount one can afford. There are also special cases or categories of illness for which the insurance would give more coverage. If one is late on his payment, his insurance will not automatically be invalid. The insurance will still cover the person as long as he makes up the missed payments. After all, some people do run into difficulties in life at one point or another. Sounds to good to be true? Well, It’s real.Taiwan, a place with no world recognition politically, has one of the top public health care system in the world. After moving to Taiwan due to my husband’s transfer a year a go, I learned and appreciated the system where universal or national health care is available to all more than ever. When speaking of universal, national, or pubic health insurance, people often turn their attention to the well-debated and discussed health care system in Canada. There are those whose views are negative, claiming that the medical service in a single-payer insurance system may not perform at its ultimate, and those whose views are positive, saying that they do not live in fear of ever having to face bankruptcy for outrageous medical bills. From my informal inquiries, more Canadian I came across favor their national health care system. Most of those who favor their national health care system commented that people of Canada are more secured in having their basic physical and psychological needs met.In Taiwan, there is also government-sponsored universal health care for not only their citizens but also for foreign residents who live in Taiwan. Foreign residents can apply for the government-sponsored insurance after proving their legal status of residing in Taiwan. The insurance fee starts from the basic 600NT, or around $18 a month. For people in higher income brackets, their insurance is calculated based on a percentage of their income over the 600Nt. Fees are waived for retired soldiers, those who are physically challenged, and people who have economic disadvantages.Interestingly, Taiwan’s national health insurance has only been established for little more than two decades, since 1985. The government policy-makers studied health care system from different foreign countries and composes the first Taiwan national health care from the ideas and methods of the system of other countries. It was said that Taiwan’s national insurance system is like a completed puzzle made from pieces of which fit its country and people. This insurance now covers the entire population, including foreign legal residents. According to research funded by Taiwan’s National Health Research and Taiwan’s Bureau of National Health Insurance, the cost of health care did not rise after the universal coverage was established (Jui-Fen & Hsiao, 2003.) What does that tell us?A basic health care program can greatly reduce the consequences of illness left untreated. Basic health care does not mean free of charge or mindless spending without control. To build a healthy nation, we should take a closer look at the current U.S. health insurance. After all, a sound nation starts with the health of its people.