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Things to Consider When Looking For a Restaurant Business Loan Financial Service

You will find that venturing into the hospitality industry and specifically starting a restaurant can be costly and many people are unable to finance everything from their own savings. This is why they opt for loans from money lenders. Luckily, there are restaurant business loan providers who are ready and willing to assist you in your new dream by providing the finances you need. Here, it is important to conduct due diligence and ensure the providers are genuine and reputable. There are other very important things you must consider before agreeing to work with the provider as outlined in this article. Consider working with a lender who approves your loan within the shortest time possible. You will find that some lenders can take months to approve a loan application and this leaves restaurant owners stranded and unable to make a move as their dream is on their mercy. Therefore, go for a lender who is willing to approve your application within three days.

Once approvals are done, they should release the funds immediately. This way, you will not have to wait for a long time and will start operations immediately. It is equally important to work with a lender who keeps the whole process simple. Here, avoid lenders who ask for a lot of documents as they end up complicating the whole process. You will find that choosing the wrong lender will force you to make countless visits to their facility as the process is long not to mention tiring. Therefore for your peace of mind, work with a restaurant business loan provider who keeps everything simple and only requires basic information as you will avoid wasting a lot of time. It would a wise move to work with a lender who offers the option of servicing your loan on a weekly basis. You will find that many people find it challenging to service their loan at the end of the month as well as pay salaries, rent, water bills, and suppliers among others. Therefore, a lender who understands this and offers the option of making a partial payment on a weekly basis makes it easier for you hence should be your best option.

Before agreeing to work with the lender, ensure you have understood the interest rates and any other related costs. You will find that some lenders have hidden charges that the restaurant owners have no idea about and end up realizing when it is too late. Also, interest rates should be as low as possible. Here, it is wise to compare the interest rates from several renders and pick the one which is on the lower side. Therefore, go for a reputable render who does not add unnecessary charges and their interest rates are not exaggerated. During your search for the best restaurant business loan provider, choose one that does not require collateral in order to approve your loan. You will find that some lenders do not ask for collateral up to a certain loan limit and this becomes a huge advantage to those people who are unable to provide one.

3 Tips from Someone With Experience

Doing The Right Way

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Offshore Banking – Fiction Vs Fact

FICTION: Offshore banking can’t be that good because they can’t really pay the high interest rates they offer. If they could really pay those rates then U.S. banks would try to be competitive and have the same interest rates.

FACT: Examine closely the financial statements of any U.S. Bank. You will see that their “gross” profits against customer deposits can range from 25% to 40% — but — they have laws written in stone to limit the interest amount they can pay customers on their deposits. The U.S. banks place their earnings into unnecessary frills and non-productive expenditures like fancy buildings etc., while offshore banking facilities don’t do this and share their profits with their customers.

FICTION: Offshore banking isn’t regulated, so you are at risk of losing all money deposited with them.

FACT: The truth is that every country in the free world has regulations, rules and laws governing financial institutions and banks. Those regulations, rules, and laws, however, are much less restrictive than the “protectionist” U.S. banking regulations, rules, and laws and allow the offshore banking industry better opportunity to earn much greater profits for their investors and depositors.

FICTION: Offshore banking facilities are not insured by the F.D.I.C.

FACT: Some of the banks are but not that many. If they are, they must comply with the same protectionist banking regulations and rules as all the other F.D.I.C. insured banks. But, the majority of offshore banking facilities are insured; one way or another.

Depositor insurance programs similar to the F.D.I.C. program have been established in some countries, so that the banks in those countries have their deposits insured. Independent insurance companies insure the deposits of offshore banking facilities in other countries AND unlike the F.D.I.C., insure 100% of the banks deposits; not just those under $100,000. (By the way, some of the banks in the U.S. insure their deposits with independent insurance companies and many banks in the U.S. are not F.D.I.C. insured)

Offshore banking is “self-insured” for the most part which means those banks have a liquidity factor equal to 100% (or more) of the deposits on the books. Those banks have $1 (or more) in liquid assets for every $1 held on deposit. Therefore, there is no bank run because they can cover any depositor demand.

Self-insured offshore banking is actually more secure than F.D.I.C. insured U.S. banking. Why? Because the F.D.I.C. insured U.S. banks are permitted to maintain a liquidity factor equivalent to approximately 10 percent of their public deposits. (Is it any wonder why more U.S. banks fail each year than in any other country?)

Which kind of bank would you feel more safe having your money in? An offshore banking institution which as one dollar in cash for every dollar on deposit, or a U.S. bank which as ten cents in cash for every dollar that shows up on the deposit statement they give their clients?

FICTION: Offshore banking isn’t as big or strong as U.S. banking.

FACT: Of the strongest and largest big banks in the world (in assets), one bank ONLY is located in the United States:

Here are the safest offshore banks in the world, according to a ranking done in 2007 after examining their total assets in US dollars. This ranking is compiled from balance sheet information included on AllBanks.org

1 UBS AG Switzerland 2 Barclays UK 3 The Royal Bank of Scotland Group UK 4 Deutsche Bank AG Germany 5 BNP Paribas SA France 6 The Bank of Tokyo-Mitsubishi UFJ Ltd Japan 7 ABN AMRO Holding NV Netherlands 8 Societe Generale France 9 Credit Agricole SA France 10 Bank of America NA USA

2008/2009 UPDATE AFTER THE FINANCIAL COLLAPSE OF 2008

Germany’s largest bank, Deutsche Bank AG, reported a fourth quarter loss of about $6.3 billion. A year earlier, the bank posted a profit of about $1.3 billion (1 billion euros), Bloomberg reported.

Royal Bank of Scotland is expected to post losses of as high as £1.7 billion.

Bucking the trend is a bank not even on the list above and that bank is Standard Chartered bank which is expecting to post profits of 1.3 billion pounds. I have a contact who can help you open an account at this bank for your company if you desire to do so. The account would be in Hong Kong.

Another bank I know about is rated AAA by an independent rating service and if you are not from the U.S. or if you are from the U.S. and have a foreign LLC or IBC to open the account with then you can deposit $15,000 and get involved in their borrow low and deposit high program which has earned depositors as much as 100% per year on their deposit. It is easy to open an account there.

FICTION: Offshore banking must not be very good, or more facilities would advertise their services in newspapers and magazines in the U.S.

FACT: Offshore banking in general is restricted by law from advertising in magazines, newspapers, radio and on T.V. unless they come under the same protectionist rules and regulations that are placed upon U.S. banks. Knowing that, you should be cautious about doing business with any offshore banking facility that publicly advertises in the U.S. media. Because you can be very sure that they have sold-out to the U.S. banking establishment and that establishment will end up selling you out to those who make the rules.

FICTION: Offshore banking is only for the wealthy.

FACT: About 25 years ago, that may have been true. But I know of about three offshore banking facilities that will allow you to open an account for as little as $500. One of these is in the Asia, another in Europe, and another in Latin America.

FICTION: Opening an account at an offshore banking facility is too difficult, and it is very difficult to get a withdrawal when you need it.

FACT: Opening an account at an offshore banking facility is easy because you just follow the instructions they give to you. Getting your money out only requires a request that you fax or email with an attachment included.

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Incredible Lessons I’ve Learned About

Hiring the Right Hauling Service Provider

Junk removal service is one of the things that you need to consider and settle for in order for you to manage a junk free environment. Hauling service providers have been established and they are more than willing to avail the services that you need. Nevertheless, there is need for you to always understand the art of hiring the best service provider in establishment. You will always hire the best when you consider the factors pinpointed below.

To begin with, there is need for you to understand all the hauling service providers established in your locale. This is the most fundamental consideration as it will enable you examine these companies with anticipations of hiring the best. Therefore, take your time and examine the available companies through conducting your research via the internet search engines, yellow pages and even word of mouth commendations from the people around. This is the first step to having a list of these companies available and will also give you all the data you need to commence the vetting process.

The company that you hire to avail the hauling services that you need must be established for decades in your locale. You need to hire a company with the full understanding of the turns and twists that comes with hauling. Junk removal is quite complex and you will always have a fulfilling experience whenever you contract an experienced company. Therefore, ensure to examine the years the company has been collecting junk in the neighborhood and if they are newbies, ensure to abhor them by all means possible. Basically, an experienced company will always have more to offer as they will at all times have experienced, dedicated and informed personnel.

The hauling company that you contract needs to have full licensing. Licensure is fundamentally necessitated for a company to operate in the area as a junk removal company. Therefore, ensure to examine the stet licensing and at the same time, have a copy of their licensure verified. There are canning companies that can say anything they deem fit and would tell you they are licensed when in real sense, they are not. Therefore, ensure to examine the licensure that a company has and this licensing should always go hand in hand with insurance coverage. Some junks are hazardous and others are to be handled with maximum care and this means that there are higher chances for injuries and accidents. Therefore, an insurance coverage makes it possible for a company to relief you the liability of covering the bills incurred whenever an accident occurs as the hauling process is in progress. Endeavor to examine the coverage keenly and ask for certifications proofing the insurance coverage.

Finally, you need to examine the reputation of the hauling company. Many companies are established and you will always pinpoint the most repute by examining the reviews that other clients have availed. Therefore, ensure to examine the testimonials available online and soaking yourself into these testimonials enables you understand whether a company is worthwhile and worth hiring or not. Never settle for a company whose clients keep complaining about them.

Looking On The Bright Side of

Getting Creative With Advice

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