2006-06-10 04:29:38 · 3 answers · asked by Anonymous in Business & Finance ➔ Small Business
The business of lending is a dense one and should be researched properly. To get started, I suggest contacting the Small Business Administration (SBA) – links below. Entrepreneur also offers a great site dedicated to money & finance – see below.
Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:
* How to Get a Small Business Loan: A Banker Shows You Exactly What to Do to Get a Loan (Small Business Series, No 1) by Bryan E. Milling
* The SBA Loan Book: Get A Small Business Loan--even With Poor Credit, Weak Collateral, And No Experience by Charles H. Green
* The Insider's Guide to Small Business Loans by Dan M. Koehler
There are plenty of free informational resources out there. Check the source box for links to articles.
Hope that helps! I wish you much success & happiness in all your ventures!
2006-06-10 08:24:45 · answer #1 · answered by TM Express™ 7 · 0⤊ 0⤋
you must keep in mind this such a lot sub prome mortgages are eighty% -20% loans this means that that if the residence forecloses then whoever loaned the 20% loses out. to not point out those properties are quick revenue if the residence has a loan for 150k definitely the residence will quick sale for 80k so the entire creditors that did 20% seconds lose the entire cash they loaned! nationaly thats alot of cash and lots of creditors are shutting thier doorways. hudge fund cash isn't being placed into subprime marketplace seeing that of the chance making it rough for creditors to discover cash to mortgage! so far as the wealthy crying many hedge budget are funded by means of retirement portfolios like yours and your fathers they make supplied a exceptional go back for little chance. a few of these budget will take gigantic lossses. dont consider its the wealthy who has moeny within the hedge budget alot of the money isn't a opt for few wealthy buyers the bulk is individuals such as you and I who handiest realize they have got a 401k or whatever find it irresistible. so y ou are completely improper whilst a borrower defaults he ccauses the lender to pay alot of moeny to dossier in courtroom after which take a lose on what they placed out. even be conscious house values are coming down so a lender wil be fortunate to recoup 50% of what they have got placed out! to not point out what they must pay in authorized charges to foreclose and public sale off!
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2006-06-16 14:33:55 · answer #3 · answered by love 1 · 0⤊ 0⤋