Saturday, 8 January 2022

Qualifications Necessary for Receiving a Franchise Loan


These days, people who are in need of money to use for the franchise businesses they are planning take out a franchise loan. Franchise businesses can be very lucrative right now, even despite the fact that they can be very expensive. 

 

A benefit to a franchise business is that you don’t need many promotions or advertising in order to let people know about your services. This is because your business will already have an established name. With a franchise business you don’t have to buy many materials to start with. Ingredients, devices and other materials would be included in a franchise package.

 

Aside from that, a franchise business gives you a head start against your competitors, because your business will be on par with an original business. 

 

But, because of the established name and its popularity, a franchise business will prove to be expensive. It has been said that in this type of business you are just paying for the name and the trademark. But many people still decide to go for a franchise business because it does have good business opportunities. If you decide on a franchise business you can get a franchise loan from a financial institution.

 

It is possible to get funding for a small business, like a franchise enterprise, through a financial institution. These institutions do have specific qualifications which you need to have in order to be eligible for a loan. 

 

The first qualification which the financial institution looks for is whether or not you will be able to pay off a loan like this. Obviously, this is a basic qualification which you need at any financial institution, private lender or bank. 

 

Something to keep in mind is that financial institutions cannot risk losing large amounts of money, such as with franchise loans. As the creditor you have to have good capacity to pay off the loan and a good credit history. This will help your loan to be approved. 

 

The financial institution will pay the most attention to these two things. They consider your capacity to finish paying off the loan and credit history. The financial institution also considers your qualities as an entrepreneur, and whether or not you will be able to make the business succeed. 

 

When applying for a loan, particularly one for a large amount of money, your personal qualifications will be thoroughly checked. 



How to Apply for Commercial Loans


The application process of getting a commercial loan can be quite daunting, especially if you aren’t sure what you’re getting yourself into. People always assume that it’s the same as the process you go through to get personal loans. But it is quite a different process all together.

 

Waiting can be frustrating, there is lots of paperwork coming and going and it’s a long time before you can get your loan approved. 

 

One common way to do it is to use a broker. So read this:- 

 

When you submit your loan application, the reviewer, who is usually called a loan officer, will check all the paperwork you have submitted. He will check your credit history, income statement and collateral. If you need to submit additional paperwork the loan officer will let you know, you will then have to resubmit the application. 

 

Usually loan applicants have to provide extra information when it comes to certain types of loans such as, a loan for purchasing commercial real-estate. For this you will need to submit things like area environmental reports, area maps and appraisals. 

 

When all the necessary paperwork is gathered together in a loan packet, it is sent to a number of leading institutions, who will check the documents and decide if they should be approved.

 

This process can be made easier if you use a broker. A broker may be able to make things proceed more speedily for you. You application will then be checked by loan committees or underwriters. They will provide you (the applicant) with a letter. 

 

This is called the ‘letter of intent’ it is just a preliminary-document which helps you (the applicant) and the potential money lender to decide what exactly is desired by both parties. This is an underwriting process. Extra paperwork might be needed, but it depends on the situation. It usually takes about a week for the decision to be made. 

 

The underwriter is always the best person to contact when you need to negotiate important offers and terms. Things like, interest rates and the repayment period. 

 

After the money lenders make their offer, you will need to go through the offers and choose the one which is the most attractive in regards to your business. Once you have chosen an offer that you like, you will need to sign your name to the ‘letter-of-intent’ from the bank you have decided on. Extra fees and deposits may also be necessary to finish the process of your loan application. 

 

If your loan has been approved a closing agent takes over and guides you through the many necessary formalities in order to close the deal. Once all the paperwork is finished, you’ll get your loan money as a check or it will be made over by direct debit, depending on what you have agreed on. 



Get an SBA Loan to Finance Your Startup


SBA (Small Business Administration) is a 7(a) loan program. Out of all the different financing options which are available, SBA loan program is amongst the very best. 

 

SBA 7(a) loan program is focused on helping small business-owners with a bank loan when they need financial assistance.

 

Getting your business started with bank financing is a very good way to start out, if you are able to get it. It’s recommended that you check out this 7(a) loan-program when you’re finding ways to finance your new business. 

 

It’s recommended for two very good reasons: 

 

  • Compared to most other options it’s much cheaper. 
  • The bank will not try to tell you how you should run your own business, so it’s a lot less restrictive than other forms financing. 

 

How the 7(a) Loan Program Works

 

  • First you need to apply at your bank for a business starting loan. 
  • If your banker does not recommend it, you should ask for an SBA 7(a) loan. 
  • You have to fill out the 7(a) loan application form. You’ll also need to provide a business plan.
  • The bank will then check your application form and the business plan. This will help them decide whether or not you are eligible under the SBA guidelines, for a start-up loan. 
  • Once you have been approved, your bank will receive a loan guarantee from the SBA. SBA guarantees up until 85% of loans that are $150,000 dollars or less. 
  • To get the loan guaranteed, the bank must accept the SBAs guidelines. Loan terms with SBA are longer and the interest will be lower than anywhere else. Whether or not you have started a business before is not irrelevant. 
  • You will be happy because of the fact that you’re getting the financing for your business. Your bank is also happy because 85% is guaranteed so they are not running a high risk by lending you money. It’s a satisfactory end result.

 

Some Other Things You Should Remember 


  • Financing for starting businesses which need $150,000 or less, have very high rates of approval (If you want to buy a business you could go until $250,000 while keeping a high rate of approval).
  • Your business plan needs to be carefully thought out. You should also have income and expense projections. Business experience is a big help. You’ll need a good credit history in order to be approved. 
  • You should plan a couple of weeks (roughly 4-7) in between the time you start your loan applications until you receive the money. 
  • If your credit scores are under 600 or if you have had a bankruptcy in the past 7 years, you won’t be approved for the loan. 

 

To sum it all up, the SBA 7(a) loan-program will be ideal for any business owners who are just starting out and need to borrow money. 



The Most Common Mistake While Setting Goals


Goal setting is a common process to achieve success. However, many a times, people make some common mistakes while setting goals. These mistakes lead to not achieving the desired success and loss of all hope. Listed below are five very common mistakes that people make while setting goals. 

 

People often set fuzzy goals. For instance, I want to make a big bungalow. These types of goals are fuzzy as there is no definite idea to start and about the result. These types of goals only lead to obfuscation and unhappiness for not achieving success. 

 

The second major mistake is setting deadlines that are hard to meet. Estimation is a mathematical analysis that very few people have the capacity to do accurately. Some people set very tight deadlines thinking to achieve success quickly. However, they do not realize that tight deadlines are hard to meet and you can easily commit a mistake due to the pressure of meeting deadlines. 

 

The third major mistake is that people often set boundaries when trying to achieve goals. Limiting yourself does not allow you to grow in terms of experience and encouragement. Only stretching yourself over the boundaries can enrich you with the qualities necessary for achievement of success. 

 

The fourth major mistake that people make is that they discuss matters of importance to achieve goal with the wrong people. They make the whole process more confusing and at times negative comments or wrong comments can make you demotivated. Further, they tend to give wrong suggestions, which make it even more difficult for you to achieve success.

 

Last but not the least, most people do not have a proper action plan to reach the goal. In other words, you cannot call a thing goal unless you have a plan set. Then it is merely a dream. Moreover, you cannot expect to make a plan within ten minutes. It takes time, patience, hard work and a detailed research to chalk out a plan in order to achieve a goal. In most cases, a goal remains a dream because people cannot make a well-detailed plan and execute it accurately. Executing it with integrity at the right time is important in the achievement of success. 

 

Thus, here you have learned about the most common mistakes that people make when achieving a goal. Only if you can learn the mistakes and keep them in mind, then you can achieve success easily.



Strategies to Achieve Goals Quickly


Achievement of a goal takes a long time and due to this reason, many people tend to divert from achieving their goals. Clearly, there are is no short cut method to achieve success. However, if you are smart enough or take smart actions, then you can reach your goals in a much shorter time compared to others. Nevertheless, do not expect to do a thing in one day that others might take years to achieve. Listed below are few smart moves that you can follow in order to achieve success in a shorter time compared to others.

 

You must be able to read yourself and your mind clearly. This means you must have the ability to point out your goals specifically. Often people set goals that are not specific. For example, if a person says that he wants to be rich, then that is not a goal because it has no specifications. Richness can be in terms of wealth, education, and many such things. Therefore, be specific in your goal. 

 

Motivate yourself. Sometimes, you may not get any motivation from others; therefore, you must know the strategy to motivate your own self in times of depression and frustration. You can do this by reminding yourself at least twice daily of the goals you set. You can remind yourself once in the morning when you get up from sleep and once at night before going to bed. A human psychology works at these hours. 

 

Spend at least fifteen minutes every day visualizing your goals. This again, will help in motivation. However, make sure that no one disturbs you during this time. 

 

Proper planning is essential to achieve a goal. You must plan once by yourself, and then verify the plan with someone well experienced. This consultation will help you to identify your faults made in the plan. You can note down your plans in a tabular way, as only then everything will appear to be in order. 

 

Ensure that you have the ability to measure the progress you make in your every day goals. This is very important, because if you cannot measure your progress, then you cannot update your goals and lose track mid-way. 

 

Finally, be dedicated and committed to your goals. Dedication plays a major role towards the achievement of a goal. 

 

Hence, following these strategies you can attain success quickly. Just remember that when you attain the success, keep your foot firmly on the ground as most of the people fail to do so. 



How to Set Goals That Are Achievable


Goal setting is the road to success. Some may accept this fact while others may not. However, this is very true when achieving goals. The more your goal sounds real, the more you are likely to achieve it fast. Yet, a number of people find it difficult to achieve goals even if it is achievable. How to understand that whether a goal that you set is achievable or not? Here are a number of ways that will help you to create achievable goals.

 

Ensure that your dream has real existence and is possible by human beings. Even if you feel that it is achievable by human beings, but you must ensure that you have the capability to achieve it. This is because not all people have equal ability to perform a task. Further, identify the risks involved in the goal. If the goal involves large amount of risks, it is better not to pursue that goal and think of some other option. 

 

Make your goals short and simple. This will make it easier for you to achieve and you can focus on the on what exactly is needed or the achievement of goals. 

 

Discuss the action plans you will take with those who will be with you during your goal achievement days. It is important to involve every person directly related to your goal and ask for his or her suggestions. 

 

It is necessary for you to know the reason behind each goal. This is because if you do not know the reason as to why you have set the goal, then you will not feel the necessity to achieve the goal. 

 

Break down your achievement goal into small actionable goals. This will make the process fair, accurate and easier for you to achieve. You will get a definite outcome from these small goals.

 

Keep the goals in mind as well as jot them down in a piece of paper. By only jotting them down in a paper, you will forget the goals or you will lose the motivation to reach your goal. While keeping them in mind will give you the motivation every day. 

 

Make your goals public. This way you will be promising to deliver the goals as you have promised them in public. Effectively monitor your progress. You have to this yourself, as you are the one who knows yourself the best. 

 

Thus, this is how you can set goals that are achievable. 



Goal Setting Related to Time


When we set a goal, we also set a time to achieve the goal. There can be different types of goals, namely, daily, monthly, yearly and lifetime goals. Many people only set a lifetime goal. They simply do not know that to achieve the lifetime goal, it is essential to succeed in the daily, monthly or yearly goals. These small goals pave the way to a lifetime success.

 

Achievement is the final and the largest goal of life, the goal that you generally set as a long-term goal. When you achieve something in life, it means that you have finally reached the target that you set in your life. Achievement of something brings a sense of satisfaction within you and derives the pleasure from all the hard work given to achieve this success. In other words, it is the fulfillment of the lifetime goal.

 

Limiting goals are something that limits you to a thing. For example, if you want to cut down your intake of alcohol, then you limit yourself to one peg daily and ultimately leave drinking. This is how limiting goals work where you limit yourself to a certain thing.

 

Rate goal is another type of goal a work done depends on time. For instance, writing one article per day and then increasing it to two, three, four and more with time maintaining consistency in writing. This is such a goal that you set and increase with over time.

Action goals are yet another type of goal that you can set to undertake a task. Generally, an action goal is a part of achievement goal and paves the way to achievement goal.

 

Finally, the main point to keep in mind is that whatever be your goal, it is important for you to realize the potential within you. You can dream to reach the sun or set it as a goal, but this is not possible in reality. Therefore, only dream of the goal that is possible to attain. Then, break down your achievement goal into small action goals to shoot the star.

 

Among all the goals stated here, achievement goal is the most common and most understood by people. However, people know of the other goals too, but not by their names. Here after reading this, they can know the names of these goals and fix their eyes on the goals specifically. The final words say set a goal to lead a happier and confusion-free life.



Are Dreams, Wishes and Goals the Same?


This is a question that you may have asked many times, but have not yet received a satisfying answer. Well, wishes, dreams and goals are not at all the same. They may have near meanings, but there is a difference between the three of them. 

 

Often you have heard someone wishing something. Wishes are those often asked by a person. There can be thousands wishes of a person. It is something that one desires to have, but does not have it yet. There can be an endless list of wishes in a person’s life. It can be from buying a designer dress to almost anything. 

 

On the other hand, dream is something that a person visualizes someday. It is more like a goal that you visualize. Dreams give a person the motivation to stand up and move forward in life. Without dreams, a person’s life would have found no meaning or taste. 

 

A goal is a target that a person sets in life. In other words, you can also call it an achievement. However, all these three closely relates to each other. They are convertible. Only if a person wishes something, then he dreams of that thing; and only if he dreams of that thing, he gets the motivation to set it as a goal. Thus, you see that there is no existence of one without the other. All three complement each other. 

 

Wish makes a life colorful. Dream makes a life motivated. Goal makes a life purposeful. This is why these three things – wish, dream and goal are very important part of life. They help a human being to live happily. These three things helps a man to be optimistic and learn about the daily hectic of life. 

 

For instance, many people wish that they had a car, but unfortunately, they do not have the capacity to buy a lavish car. The next step for them is to dream and visualize that they have a car. This will help them to get the motivation to buy a car. Then, they will take the necessary steps to buy the car. Although it may not be possible at once, but they have to set, some other goals that will help them make money and finally achieve their goal of buying a car. Thus, everything relates to one another. 

 

In order to achieve the goal, you have to set our eyes on it just as an animal before catching its prey fixes their eyes on the prey. However, keep in mind that you must not forget the principles of your life while you set to achieve the goals. Most people often forget their principles of life and resort to dubious means in order to achieve the target. Keep away from them. If you feel that, the goals is not achievable for you, then leave it for the moment and make some other goal in your life that you find achievable for the moment. 

 

Thus, wishes, dreams and goals are needed to live a colorful life. 



Is Hypnosis a Communication with the Subconscious Brain?


Hypnosis is a very complicated field. Most people do not understand the process of hypnosis and its working. In fact, to some hypnosis looks like a magic. Others, who have a vague idea of the human body working process, ask the question whether hypnosis relates to the subconscious mind. 

 

In reality, hypnosis is a process where a person goes into a state of relaxation and focuses on certain issues. A person does this thing with the help of another person, called the hypnotist. It is often said that a hypnotist can change a person completely. However, this is not completely true. Often, we can see certain changes in a person after the process of hypnosis, but the basic nature of a person does not change. 

 

However, you can also go into a state of hypnosis even without the intervention of a professional hypnotist. For example, you are sitting at a college room where your professors are delivering lectures. Often it happens that you look outside the window and involve in some deep thoughts. This is a state of trance and can be called as a state of hypnosis. Now, most of you may ask how this hypnosis works. 

 

To get an idea on the working of hypnosis, you have to understand the working of a human brain. Generally, we divide a human brain into two parts, namely, the conscious part of the brain and the subconscious part of the brain. Conscious brain always deals with the external happenings. 

 

For example, hears takes the lectures delivered by the professor. In other words, deals with the real things, while the subconscious brain deals with the emotions, thinking and feelings of a human being. For example, after the professor delivers the lecture, your conscious mind catches the words of the lecture and sends them to the subconscious mind, which does the further thinking related to the subject. 

 

The same happens in the case of hypnosis too. While a person is going on a state of hypnosis, his or her conscious mind stops working and goes on a relaxation mode and the subconscious mind starts working. The subconscious mind does all the thinking about what the person wanted to focus on. Thus, a subconscious mind is responsible of all your thinking habits provided it is good or bad. 

 

However, you can make some efforts to control your subconscious mind. 



How to Use a Subconscious Mind to Seek Solutions


Most people in the world do not know the use of a subconscious mind or they do not believe in its power. However, it is a known fact that if you can use your subconscious mind to its full, then you can find solutions to almost any problems in your life. 

 

The subconscious mind is a part of the brain that does not have the ability to differentiate the good from the bad. It only follows the thing, which the conscious mind reflects on the subconscious mind. More importantly, even though the subconscious mind works twenty-four a day, it becomes active on the passiveness of the conscious mind. How do you use the subconscious mind? Here are some strategies that will help you to learn to use the subconscious mind. 

 

Notify the subconscious mind of the problems you are having and ask your subconscious mind to seek for solutions to the problems. You can remind the subconscious mind by repeating the problems that you have and stressing on the searching of answers. You can also visualize the problem to find the solutions. Generally, this step is the inputting step. Just as a computer has to be fed with data or you have to input data to find solutions to the problems, your mind works in a similar way. You have input data or the problem to seek the answer. 

 

Next is the processing step. Just as a computer processes the data inputted by using several software, the problem that you input into your mind needs processing. For this, you have to relax your mind by involving in different activities such as listening to music, playing, or any other things that are not stressful. The aim is to avoid stress. The more you can avoid stress, the more easily you can find definite and positive solutions to your problems. The conscious mind does not do this part of the work. The subconscious mind does the thinking for you. 

 

Next is the output stage. After the subconscious mind seeks a solution to the problems, it lets you know by a feeling. The most important thing for you is to understand the feeling. Many a times, you may not pay much attention to it. Therefore, it is advisable to pay attention to the feeling. It can be in the form of images rolling in your mind, or just a thought in your mind.

 

Thus, you can find a solution to a problem with the help of a subconscious mind.