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.
How A Business Loan Helps Business People
Religion and Politics in Iran
I’m not an expert in these matters but I think I know enough to say that religion and politics don’t mix well in Iran. Cooperation between the two is an illusion, an illusion the people of that country realize is getting them no where fast. Iran was on its way to becoming a democracy (sort of) during the Shah’s US backed reign. Of course the Shah-Mohammad Reza Shah Pahlavi-had his problems with the religious right because of his White Revolution (visit White Revolution in Wikipedia-very interesting) that, among other things, extended suffrage to women, modernized the nation and recognized the sovereignty of Israel, a no-no for any Muslim nation.Modernization in Iran was seen by Shi’a clergy as secularization and they began withdrawing support for the Shah. In 1979 a revolution occurred that brought to power the Ayatollah Khomeini and his rule by the Supreme Jurist. Many Iranian citizens were opposed to the return of theocracy but knew better than to complain. Religious zealots remember, have ways of bringing the wrath of God to bear when needed to bring about unquestioned compliance, or so those zealots say. I became acquainted with an Iranian family that was able to escape the Ayatollah’s Supreme Jurist rule in 1982. A well-to-do family, the result of education and hard work, eventually made their way to the US where we met. The patriarch and his wife were in their seventies, both were ill, and they were broke. The Supreme Jurist wouldn’t allow them to leave Iran to seek medical assistance with any thing but the cloths on their backs. The familie’s home, jobs, and retirement fund were lost, never to be retrieved. The good news is that Americans-many were Iranian themselves-helped this family get what they needed and the bad news, of course, is they could never return to their beloved Iran.A product of the 70′s revolution in Iran was Mahmoud Ahmadinejad, now into his second term as Iran’s blowhard president. Strange indeed how Ahmadinejad began his ascent because of a cleric’s government take over in 1979, a puppet groomed by theocracy to lead a country back into the dark ages and now theocracy and Ahmadinejad are both suffering a significant loss of respect and power.Jon Meacham, in a Newsweek editorial, wrote; “In an imperfect world there will never be a complete end to theocracy any more than there will be a complete end to tyranny. Power will ebb and flow, regimes come and go. But in the main, history’s path leads to more liberty, not less.”Riots are raging throughout the Middle-East and as many know already Ahmadinejad is on his way out eventually. Rule by the Supreme Jurist is sure to be marginalized as well and the result, we hope, will be more liberty, not less. However, the not-less part is contingent upon reining in Iran’s Islamic Revolutionary Guard Corps the most powerful and secretive organization in the region, their goal; eradication of all non-fundamental Islamic believers. There is much to be done to bring about liberty in those Muslim states and I am afraid it will get worse before it gets better. And in the meantime the Iranian Islamic radicals near their quest for nuclear weapons and the means to deliver them.
Part 3 – The Road to Fitness Success – Choose Your Fitness Products Wisely!
Now that you have created a burning desire to be fit, healthy and attractive, and have begun secretly conspiring to satisfy your desires, the obvious question becomes…How?There are so many different types of fitness products to choose from… all claiming to be your perfect fitness, health and physique solution.* So many recommendations…
* So many famous personalities…
* So many advertisements…But which fitness product will work best for you?Here are some characteristics to look for when choosing a fitness product.The more of these characteristics the fitness product has… the better the chance you will succeed in achieving your fitness, health and physique goals.Your Physical Fitness Program Must Be… EffectiveWhile this characteristic seems like a no-brainer… you would be surprised at just how many people are actively using a fitness product that will never give them the results they seek.Many people say they want improve their level of fitness… and get a bodybuilding product.Big muscles are not necessarily indicative of a high level of fitness.Many people say they want to lose fat… and get an aerobic endurance product.Aerobic training is only a part of the fat loss equation, and will not produce the lean, muscular, athletic body most people want… regardless of all the hard work. The point is, make sure the fitness product you choose is designed to get the results you want… or you are doomed to failure before you begin. If you want to increase fitness, improve health and develop an attractive physique… look for fitness products designed to produce these results.Your Physical Fitness Program Must Be… InterestingLet’s face it, if you are not interested in the fitness product you choose… you will not use it long enough to see results.I don’t care if the fitness product was proven to work by thousands of scientific studies… it will have no positive effect on your fitness, health or physique if you don’t do it.And you won’t do it… if it does not hold your attention and peak your interest.No matter how many times you say…”This time I’m not giving up until I get the results I want.”… you will eventually give up if the fitness product is not interesting to you.Don’t force yourself to struggle with a fitness product you hate… look for interesting fitness products that fit into your lifestyle and match your personality.You should look forward to physical training… not dread it!Your Physical Fitness Program Must Be… ModifiableThere is not one fitness product in existence that can be all things to all people… regardless of what all the slick-tongued advertisements say.Fitness products must be modifiable to your goals, needs, abilities and limitations… you must be given a degree of freedom to make the physical fitness program uniquely your own.You have different wants and needs.You have different strengths and weaknesses needing specific attention.You must be able to take an active role in the use of the fitness product… modifying it into your perfect fitness program.Cookie-cutter programs claiming long-term results do not work.Look for fitness products that can be easily modified to your unique situation.Your Physical Fitness Program Must Be… Sustainable The more the fitness product is dependent on machines, devices and other complexities… the easier it is to destroy.What happens when the machine is not available, the device breaks or the complexity you have based you entire fitness program on is lacking?Your physical training comes to a grinding halt!I am not saying you should stay away from fitness products that use machines, special equipment, etc… only don’t choose a product that makes you dependent upon them.You are responsible for your fitness success… not the availability of a piece of equipment, or access to a machine.Look for fitness products that help you sustain physical training in your lifestyle no matter what the circumstances.Your Physical Fitness Program Must Be… ProgressiveThere are many fitness products out there presented as a fixed workout.”Do this over and over again and you will get the results you want.”And the workout may be effective in the beginning… for some people and for a limited amount of time.Unfortunately, any workout program not part of a progressive over-all plan is doomed to failure.This is why you still need fitness products with all the free workouts out there.A workout without a progressive plan is little more than manual labor… and will fail to take you where you need to go.Any improvements you see in the beginning will quickly disappear, leaving you asking, “What do I do now?”Then it is off to look for another workout to try.Make sure the fitness product you choose is progressive in nature… and not just “add more weight” either.Progression on many different levels is probably the most important aspect of any successful fitness program.Your Physical Fitness Program Must Be… MeasurableThe pursuit of fitness, health and physique is a journey… and like any worthwhile journey, it should be documented.The ability to measure your progress will keep you on the track of success… enabling you to see where you’ve been and where you’re going.Make sure the fitness product you choose comes with a workout journal, or that one can be easily made… Don’t underestimate the importance of a workout journal.Your workout journal will help you…* judge if your physical training efforts are getting you closer to your goals…
* decide if you need to modify your fitness program…
* and determine if it is time to switch to something completely different…… ultimately guiding and documenting your fitness success.Look for fitness products making it easy to measure their effectiveness… how else will you really know if it is working for you or not?Use Your Common SenseIf the fitness product…* attracts you…
* speaks to you…
* excites you…
* and ultimately makes sense to you…… it is probably the right fitness product for you.After all, only a physical fitness program you actually do, and that becomes a part of your lifestyle, will give you the long-term fitness, health and physique benefits you seek.Now that you have a burning desire to be fit, healthy and attractive, have secretly conspired within yourself to achieve your goals and know what to look for in a fitness product, there is only one thing left to do… act!In part 4, I’ll show you how knowledge without action us useless.