#Bankable funding

[businessorzozen]

Empowering Woodbridge: EZ Funding Solutions Paves the Way for Bankable Funding:

In today's fast-paced business world, securing reliable funding is essential for growth and success. Enter Woodbridge, a name synonymous with stability and credibility in the financial sector. When combined with the innovative solutions offered by EZ Funding Solutions, businesses have a powerful ally in their quest for bankable funding.

The Power of Woodbridge: A Pillar of Trust in Finance

For decades, Woodbridge has stood as a cornerstone in the financial industry. Its reputation for integrity and expertise in providing diverse financial solutions is unrivaled. Whether you're a budding entrepreneur or an established enterprise, Woodbridge's services are tailored to meet your unique funding needs.

EZ Funding Solutions: Pioneering Financial Innovation

Complementing Woodbridge's legacy is EZ Funding Solutions, an innovative force in the world of financing. With a keen understanding of the ever-evolving financial landscape, EZ Funding Solutions brings forth a range of creative funding options, revolutionizing the way businesses access capital.

Seamless Integration for Optimal Results

What sets EZ Funding Solutions apart is its seamless integration with Woodbridge's services. This dynamic partnership ensures that businesses receive not only the financial support they need but also the expertise and guidance to make informed decisions.

Tailored Solutions for Every Venture

EZ Funding Solutions understands that each business is unique, and its funding requirements are equally distinct. Whether you're looking for working capital, expansion financing, or specialized project funding, EZ Funding Solutions, in tandem with Woodbridge, crafts a bespoke strategy that aligns perfectly with your objectives.

The Woodbridge Advantage: Stability and Reliability

Partnering with Woodbridge through EZ Funding Solutions brings unparalleled stability to your financial endeavors. Woodbridge's deep-rooted presence in the industry and its commitment to ethical practices ensure that your funding journey is marked by security and reliability.

Diverse Funding Options for Every Need

EZ Funding Solutions, in collaboration with Woodbridge, opens doors to a wide array of funding options. From traditional loans and lines of credit to innovative solutions like asset-based lending and equipment financing, businesses can explore a comprehensive suite of financial instruments tailored to their specific requirements.

Navigating Complex Financial Landscapes with Ease

The financial world can be daunting, especially for businesses seeking funding for the first time. With EZ Funding Solutions and Woodbridge by your side, you have a team of seasoned experts guiding you through the intricacies of the funding process. From application to disbursement, you can be confident that your financial journey is in capable hands.

Building a Future of Financial Prosperity

In the realm of business, securing bankable funding is not just about the present; it's an investment in your future. With EZ Funding Solutions and Woodbridge as your partners, you're not merely accessing capital; you're building a foundation for sustainable growth and long-term success.

In the dynamic world of business, having a reliable financial partner is paramount. With EZ Funding Solutions and Woodbridge, you not only unlock bankable funding but also gain access to a wealth of experience and expertise. Together, they form an unbeatable alliance, propelling your business towards a future of financial prosperity. Trust in Woodbridge, innovate with EZ Funding Solutions, and embark on a journey towards unparalleled success.

Contact us today for Bankable funding Woodbridge

[juneviews]

I’m so glad you summoned us to your ask box bc I agree that watching cooking crush is so lonely. I am constantly lurking in the tag and its so depressing compared to the energy ‘not me’ got every sunday. I am so happy that offgun are doing a romcom. I know that you like angsty offgun but I desperately needed an offgun show that is lighthearted and cc is serving. Gun is shining in this show and I love that he lives with his grandma and sister. I have always found that Gun bounces off of actresses really well, especially older women, and he makes dynamics with them seem really natural and comforting. And holy moly is Off Jumpol blessing my eyeballs. I find myself swooning every time he comes on screen and this character feels so soft. I love how gentle Ten is with Prem. The way he quietly accepted that Prem was willing to teach him despite Prem screwing with him earlier in the episode. And then reassuring Prem that he is a good cook. Ugh I am so living for this dynamic and can’t wait to see what offgun do with it further.

But gmmtv and I will have words about them not releasing the full versions on youtube. Like what more can they do to inhibit offgun?

yeah to be fair I never expected the fandom experience for cc to be anywhere near not me bc that kind of collective watching experience can never be matched, but I'm glad many people have taken up my open call to discuss cooking crush lol bc it was getting lonely!

honestly, while I do love my angst & deeper topics, I've been glad that cooking crush is a silly romcom since the first trailer dropped. as I said in my gmmtv 2022 reaction video, I think we do need a breather after how intense & life-changing not me was, and also offgun are just SO GOOD at romcoms bruh, it's the perfect genre for them (even though they've slayed every genre they've been in too!) also I have this theory that cooking crush was chosen for offgun specifically to bring them back to their "bankable" image that they lost due to not me being too political & half of the entertainment kinda blacklisting them, which while not me being censored is bullshit, I am glad that it's not gonna affect offgun's careers long term & they're now back to getting more events & ads together!

you're so right about gun bouncing off actresses & especially older ones very well, I 100% agree! prem's ama is my fave I love her, she's such a good supportive force in prem's life :))) as for ten being super gentle & soft, YES!!! I was told before the show aired that novel!ten is like the softest man in existence, yet off still managed to exceed my expectations! especially after sean who was his roughest character to date hahaha! ten just feels like a big teddy bear, every time he appears on screen I wanna squish his cheeks 🥺 ten is really as forgiving as sean was hahaha, whoops I think I found another favorite character! the tenprem dynamic is literal perfection, though. they match each other so well I think I might pass away once they get together 😭

gmmtv is so fucking weird, like they still stand behind offgun & give them shows & fanmeets, etc. but at the same time they often do a terrible job promoting them. here what upsets me the most is that gmmtv actually was promoting cooking crush pretty damn well, but they set up cooking crush with their contract with wetv. it's nice that wetv seems to have given cc a lot of funds, which is why it was their headlining thai show of the year at their event in september, but I think in exchange they refused to have gmmtv post the full uncut eps to make it a wetv exclusive, which is bullshit. while gmmtv couldn't do much against it, they couldn't have discussed other ways, like they've done for other shows. it just really sucks bc the uncut version is the only great way to watch the show, but I wanna support the show on gmmtv's channel too :(

xxx

[renewableenergiestoday]

Harnessing the Power of Wind: A Comprehensive Guide to Wind Resource Assessments

In the quest for sustainable energy sources, wind power has emerged as a prominent player in the renewable energy landscape. Wind farms, capable of converting the power of the wind into electricity, have the potential to meet the growing demand for clean and sustainable power. However, developing a successful wind farm requires a thorough understanding of the site's wind resource potential. In this article, we will explore the importance of wind resource assessments and how they contribute to the feasibility and success of wind farm projects.

The Significance of Wind Resource Assessments

Accurate wind projections are crucial when evaluating a potential wind farm site's viability or trying to attract investors and lenders. Wind resource assessments provide reliable and data-driven insights that allow stakeholders to understand the wind energy potential of a proposed project with confidence. By leveraging state-of-the-art weather modeling and computational fluid dynamics, these assessments offer a comprehensive evaluation of the wind resource, eliminating the need for costly and outdated data from on-site met stations.

Key Factors Considered in Wind Resource Assessments

To obtain a comprehensive evaluation of a site's wind potential, wind resource assessments take into account crucial factors including local atmospheric conditions, land use data, and terrain elevation. By utilising advanced modeling techniques, these assessments provide detailed wind speed estimates, accounting for factors such as downtime and technical losses. The assessments also include P50 and P90 power estimates, offering a clear understanding of the project's risks and returns.

Reports for Project Viability and Financing

Wind resource assessments serve as investment-grade reports that play a vital role in securing financial backing for wind farm projects. These bankable reports provide credible evidence to lenders, demonstrating the project's potential for power generation and its viability as a long-term investment. By instilling confidence in the financial institutions, wind resource assessments facilitate the process of securing the necessary funding for wind farm development.

Benefits of Wind Resource Assessments

Wind resource assessments from wind energy consultants offer several benefits for wind farm developers. Firstly, they provide cost-effective solutions by eliminating the need for on-site met stations, saving time and money. Secondly, wind resource assessments ensure a fast turnaround, with results typically delivered within 15 working days. Importantly, these assessments offer accurate wind speed estimates with an average error of only +/- 0.35 m/s, enabling reliable decision-making throughout the development process. Lastly, wind resource assessments come with the added advantage of expert advice and support, providing developers with the necessary guidance and addressing any project-specific concerns.

Conclusion

Wind resource assessments form a crucial foundation for the successful development of wind farms. By providing accurate and reliable data regarding a site's wind potential, these assessments are essential for decision-making, project financing, and securing the confidence of investors and lenders. With advanced modeling techniques and computational fluid dynamics, wind resource assessments enable developers to evaluate the viability and feasibility of wind energy projects. As the world strives towards a sustainable energy future, harnessing the power of wind through efficient and comprehensive wind resource assessments is key to driving the adoption of clean and renewable energy sources.

[efixcredit]

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[vanilla-crush]

So I watched JLo's "This is Me Now" and " The Greatest Love Story Never Told", and I am confused. I feel like the titles should have been reversed.

For "This is Me Now", I expected it a lot more to be about ...her life, as it is now? But it's more just a movie about stuff from her past. "This is Me Now" would have been a great titled for the documentary part, which shows her working on her current project, and actually shows what her life is like now.

"The Greatest Love Story Never Told" is the documentary part, and is supposed to be about her and Ben (I think), which is even weirder, because aside from showing some brief footage of them talking about her work, it's not about their relationship at all. It's about her work. Unless that is her Great Love Story, her work, in which case it is a good title, but I don't think that's what she intended.

And when she explains how she is funding this all with her own money, wow. Someone who cares about her should have had a sit-down chat with her about that. The people who are around her encouraging this - they are making money off her bad decision to forge ahead. It sounds like studios were not on board, so I guess it was pay out of pocket for her vanity project or have it not happen at all. But I feel like that should have been an indicator, the people who are in the business to make money don't think this is bankable.

Anyway, she's cancelled her tour, so I guess things didn't all go as planned.

I hope her marriage works out 🤞

[revolutioninformationnewsblog]

Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ https://www.merchant-business.com/dave-ramsey-crushes-27-year-old-atlanta-mans-ice-business-dream-why-some-opportunities-may-really-be-a-trap/?feed_id=5804&_unique_id=665b50584b8f9 Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Most Americans would agree that your 20s should be a time of new experiences, growth and discovering your career path. And while it can be the perfect time to take risks and big swings, leaping without a safety net goes beyond just risky — that’s reckless territory. At least, that’s what personal finance celebrity Dave Ramsey recently cautioned 27-year-old Michael. Don’t miss Michael, from Atlanta, Georgia, finds himself at a crossroads and he called into Ramsey’s show to get some advice. He can either continue working for someone else or dive into small business ownership by purchasing an ice business. But as Ramsey tells him, he needs to make sure his financial foundation is solid before he can think about building a business — here’s what Michael (and other young Americans in his position) needs to do before he can even think about taking that big step. Small businesses are work Michael told Ramsey he was looking for advice on how best to secure the funds to buy out the owner of an ice business he currently works for. But as he explained, the owner has indicated his desire to sell the company within the next two years, which includes a building with existing tenants, for an asking price of $1 million. that he’s looking to take out a $1 million loan to buy a small business. Michael’s interested in taking over the business but needs the capital to buy it himself. The hosts were skeptical about Michael’s devotion to the ice business, but he told them he’s happy he was exposed to it so young because he sees great opportunity in the field. He’s also not technically in a bad place financially — Michael and his wife have worked diligently toward clearing their debts and improving their overall financial standing. But he’s also a 27-year-old still living in his parent’s house with no meaningful assets, and so Ramsey doesn’t think he’s prepared to make this step. He went on to talk some sense into Michael, with co-host John Delony backing him up, cautioning Michael this wasn’t an opportunity, rather a “trap.” “No bank’s going to loan you this,” Ramsey bluntly stated. “You don’t have the assets, you don’t have the income — you’re not bankable. Buying and running a small business will take the bone marrow out of you. It’ll drain you, it’ll squeeze you like yesterday’s dish rag, man.” Story continues Ramsey’s overall take is that being financially stable and debt-free before deciding to buy and own a small business is absolutely crucial. This is the same advice he’d give to his own son. “I would say you need a better, stronger personal financial foundation before you start talking about buying and running a small business,” remarked Ramsey. “You got a car payment and you live with your momma. You’re not ready to do it.” Read more: Rich young Americans have lost confidence in the stock market — and are betting on these assets instead. Get in now for strong long-term tailwinds Prioritize financial stability The U.S. Chamber of Commerce reported that there are 33.2 million small businesses in the U.S. Combined, these small businesses account for 99.9% of all U.S. businesses as of 2023 (this is a pretty impressive metric!) At the same time, roughly half (an astonishing 49%) of U.S. adults admit they wouldn’t be able to cover a $1,000 emergency in cash as of 2023. One way to fund the purchase of a small business is through an SBA (Small Business Association) loan. They usually range from $500 to $5.5 million. However, they do come with some downsides and risks:

Borrowers are usually required to make a down payment Borrowers with low credit scores usually won’t qualify Putting up collateral could be required There’s typically a slow approval process You may be personally liable if the business defaults If you’re looking to join the tens of millions of Americans who’ve made the jump into entrepreneurship, be sure that you’re not among the 49% who can’t afford an emergency expense. Personal financial stability should be of paramount importance before taking on any business venture. What to read next This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Source link Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ #Dave #Ramsey #crushes #27yearold #Atlanta #mans #ice #business #dream #opportunities #trap Source link Google News Source Link: https://finance.yahoo.com/news/dave-ramsey-crushes-27-old-102700387.html The post Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ appeared first on Merchant Business News. Buy, Sell, Get Informed, Negotiate and Be Happy! Business, Global - BLOGGER - #Business #Global

[productinternetnews]

Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ https://www.merchant-business.com/dave-ramsey-crushes-27-year-old-atlanta-mans-ice-business-dream-why-some-opportunities-may-really-be-a-trap/?feed_id=5803&_unique_id=665b5057bc57c Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Most Americans would agree that your 20s should be a time of new experiences, growth and discovering your career path. And while it can be the perfect time to take risks and big swings, leaping without a safety net goes beyond just risky — that’s reckless territory. At least, that’s what personal finance celebrity Dave Ramsey recently cautioned 27-year-old Michael. Don’t miss Michael, from Atlanta, Georgia, finds himself at a crossroads and he called into Ramsey’s show to get some advice. He can either continue working for someone else or dive into small business ownership by purchasing an ice business. But as Ramsey tells him, he needs to make sure his financial foundation is solid before he can think about building a business — here’s what Michael (and other young Americans in his position) needs to do before he can even think about taking that big step. Small businesses are work Michael told Ramsey he was looking for advice on how best to secure the funds to buy out the owner of an ice business he currently works for. But as he explained, the owner has indicated his desire to sell the company within the next two years, which includes a building with existing tenants, for an asking price of $1 million. that he’s looking to take out a $1 million loan to buy a small business. Michael’s interested in taking over the business but needs the capital to buy it himself. The hosts were skeptical about Michael’s devotion to the ice business, but he told them he’s happy he was exposed to it so young because he sees great opportunity in the field. He’s also not technically in a bad place financially — Michael and his wife have worked diligently toward clearing their debts and improving their overall financial standing. But he’s also a 27-year-old still living in his parent’s house with no meaningful assets, and so Ramsey doesn’t think he’s prepared to make this step. He went on to talk some sense into Michael, with co-host John Delony backing him up, cautioning Michael this wasn’t an opportunity, rather a “trap.” “No bank’s going to loan you this,” Ramsey bluntly stated. “You don’t have the assets, you don’t have the income — you’re not bankable. Buying and running a small business will take the bone marrow out of you. It’ll drain you, it’ll squeeze you like yesterday’s dish rag, man.” Story continues Ramsey’s overall take is that being financially stable and debt-free before deciding to buy and own a small business is absolutely crucial. This is the same advice he’d give to his own son. “I would say you need a better, stronger personal financial foundation before you start talking about buying and running a small business,” remarked Ramsey. “You got a car payment and you live with your momma. You’re not ready to do it.” Read more: Rich young Americans have lost confidence in the stock market — and are betting on these assets instead. Get in now for strong long-term tailwinds Prioritize financial stability The U.S. Chamber of Commerce reported that there are 33.2 million small businesses in the U.S. Combined, these small businesses account for 99.9% of all U.S. businesses as of 2023 (this is a pretty impressive metric!) At the same time, roughly half (an astonishing 49%) of U.S. adults admit they wouldn’t be able to cover a $1,000 emergency in cash as of 2023. One way to fund the purchase of a small business is through an SBA (Small Business Association) loan. They usually range from $500 to $5.5 million. However, they do come with some downsides and risks:

Borrowers are usually required to make a down payment Borrowers with low credit scores usually won’t qualify Putting up collateral could be required There’s typically a slow approval process You may be personally liable if the business defaults If you’re looking to join the tens of millions of Americans who’ve made the jump into entrepreneurship, be sure that you’re not among the 49% who can’t afford an emergency expense. Personal financial stability should be of paramount importance before taking on any business venture. What to read next This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Source link Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ #Dave #Ramsey #crushes #27yearold #Atlanta #mans #ice #business #dream #opportunities #trap Source link Google News Source Link: https://finance.yahoo.com/news/dave-ramsey-crushes-27-old-102700387.html The post Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ appeared first on Merchant Business News. Buy, Sell, Get Informed, Negotiate and Be Happy! Business, Global

[businessorzozen]

Smart Strategies for Bankable Funding in Edison, NJ

In today's dynamic business landscape, securing bankable funding is a crucial step for entrepreneurs and businesses aiming to achieve growth and success. Edison, with its vibrant economic environment, presents ample opportunities for businesses to access the funding they need to realize their goals. In this article, we will explore the smart strategies that can be employed to secure bankable funding in Edison, with a focus on the innovative solutions provided by EZ Funding Solutions.

Understanding Bankable Funding

Bankable funding refers to financial resources that are deemed suitable and secure for investment by financial institutions and lenders. These funds are typically made available to businesses and entrepreneurs with a promising track record, solid business plans, and the potential for growth. Edison, with its diverse range of industries and a growing economy, offers an attractive backdrop for those seeking bankable funding options.

The Role of Strategy

In the pursuit of bankable funding, a well-defined strategy is the cornerstone of success. Entrepreneurs and businesses must approach the process strategically to maximize their chances of securing the funding they require. Let's delve into some smart strategies that can pave the way for bankable funding in Edison.

Thorough Business Planning: A comprehensive business plan is essential when seeking bankable funding. Lenders and investors need to see a clear vision, projected financials, and a roadmap for growth. Edison-based businesses can partner with organizations like EZ Funding Solutions, which specialize in guiding entrepreneurs through the process of creating bankable business plans.

Showcasing Edison's Potential: Edison, boasts a strategic location, skilled workforce, and a thriving business community. Highlighting these factors can enhance the attractiveness of your business to potential lenders and investors. Incorporating these strengths into your pitch can help instill confidence in your venture's viability.

Leveraging Technology: In today's digital age, technology plays a pivotal role in securing bankable funding. Online platforms and digital tools can streamline the application process and provide quick access to a wide range of funding options. EZ Funding Solutions, as a tech-savvy solution provider, can offer digital avenues for entrepreneurs in Edison to explore funding opportunities.

Tailored Funding Solutions: EZ Funding Solutions specializes in offering tailored funding solutions that match the unique needs of businesses in Edison. This personalized approach increases the likelihood of securing funding that aligns with the specific goals and growth plans of the business.

Building Relationships: Building strong relationships with local banks, financial institutions, and investors can open doors to bankable funding opportunities. Edison-based entrepreneurs can leverage EZ Funding Solutions' network to connect with potential investors who understand the local business landscape.

Conclusion

Securing bankable funding in Edison, NJ, requires a strategic approach that showcases the potential of your venture and aligns with the expectations of lenders and investors. As we've explored in this article, partnering with innovative solution providers like EZ Funding Solutions can significantly enhance your chances of success.

Edison's economic landscape is brimming with possibilities, making it an ideal location for businesses to thrive. By implementing smart strategies and leveraging the expertise of organizations like EZ Funding Solutions, entrepreneurs can navigate the funding journey with confidence. Remember, a well-crafted business plan, a focus on Edison's strengths, technology integration, tailored solutions, and relationship-building can collectively propel your quest for bankable funding to new heights.

So, if you're an entrepreneur in Edison, NJ, looking to turn your business aspirations into reality, remember that the path to bankable funding can be made smoother and more efficient with the right strategies and partners by your side.

[marketingnewsbusinessmerchant]

Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ - #Business #Global https://www.merchant-business.com/dave-ramsey-crushes-27-year-old-atlanta-mans-ice-business-dream-why-some-opportunities-may-really-be-a-trap/?feed_id=5802&_unique_id=665b5057379d6 Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Most Americans would agree that your 20s should be a time of new experiences, growth and discovering your career path. And while it can be the perfect time to take risks and big swings, leaping without a safety net goes beyond just risky — that’s reckless territory. At least, that’s what personal finance celebrity Dave Ramsey recently cautioned 27-year-old Michael. Don’t miss Michael, from Atlanta, Georgia, finds himself at a crossroads and he called into Ramsey’s show to get some advice. He can either continue working for someone else or dive into small business ownership by purchasing an ice business. But as Ramsey tells him, he needs to make sure his financial foundation is solid before he can think about building a business — here’s what Michael (and other young Americans in his position) needs to do before he can even think about taking that big step. Small businesses are work Michael told Ramsey he was looking for advice on how best to secure the funds to buy out the owner of an ice business he currently works for. But as he explained, the owner has indicated his desire to sell the company within the next two years, which includes a building with existing tenants, for an asking price of $1 million. that he’s looking to take out a $1 million loan to buy a small business. Michael’s interested in taking over the business but needs the capital to buy it himself. The hosts were skeptical about Michael’s devotion to the ice business, but he told them he’s happy he was exposed to it so young because he sees great opportunity in the field. He’s also not technically in a bad place financially — Michael and his wife have worked diligently toward clearing their debts and improving their overall financial standing. But he’s also a 27-year-old still living in his parent’s house with no meaningful assets, and so Ramsey doesn’t think he’s prepared to make this step. He went on to talk some sense into Michael, with co-host John Delony backing him up, cautioning Michael this wasn’t an opportunity, rather a “trap.” “No bank’s going to loan you this,” Ramsey bluntly stated. “You don’t have the assets, you don’t have the income — you’re not bankable. Buying and running a small business will take the bone marrow out of you. It’ll drain you, it’ll squeeze you like yesterday’s dish rag, man.” Story continues Ramsey’s overall take is that being financially stable and debt-free before deciding to buy and own a small business is absolutely crucial. This is the same advice he’d give to his own son. “I would say you need a better, stronger personal financial foundation before you start talking about buying and running a small business,” remarked Ramsey. “You got a car payment and you live with your momma. You’re not ready to do it.” Read more: Rich young Americans have lost confidence in the stock market — and are betting on these assets instead. Get in now for strong long-term tailwinds Prioritize financial stability The U.S. Chamber of Commerce reported that there are 33.2 million small businesses in the U.S. Combined, these small businesses account for 99.9% of all U.S. businesses as of 2023 (this is a pretty impressive metric!) At the same time, roughly half (an astonishing 49%) of U.S. adults admit they wouldn’t be able to cover a $1,000 emergency in cash as of 2023. One way to fund the purchase of a small business is through an SBA (Small Business Association) loan. They usually range from $500 to $5.5 million. However, they do come with some downsides and risks:

Borrowers are usually required to make a down payment Borrowers with low credit scores usually won’t qualify Putting up collateral could be required There’s typically a slow approval process You may be personally liable if the business defaults If you’re looking to join the tens of millions of Americans who’ve made the jump into entrepreneurship, be sure that you’re not among the 49% who can’t afford an emergency expense. Personal financial stability should be of paramount importance before taking on any business venture. What to read next This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Source link Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ #Dave #Ramsey #crushes #27yearold #Atlanta #mans #ice #business #dream #opportunities #trap Source link Google News Source Link: https://finance.yahoo.com/news/dave-ramsey-crushes-27-old-102700387.html The post Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ appeared first on Merchant Business News. Buy, Sell, Get Informed, Negotiate and Be Happy! Business, Global Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Most Americans would agree that your 20s should be a time of new experiences, growth and discovering your career … Read More

[businessnewswebsiteonline]

Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ - #Business #Global https://www.merchant-business.com/dave-ramsey-crushes-27-year-old-atlanta-mans-ice-business-dream-why-some-opportunities-may-really-be-a-trap/?feed_id=5801&_unique_id=665b5056a816e Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Most Americans would agree that your 20s should be a time of new experiences, growth and discovering your career path. And while it can be the perfect time to take risks and big swings, leaping without a safety net goes beyond just risky — that’s reckless territory. At least, that’s what personal finance celebrity Dave Ramsey recently cautioned 27-year-old Michael. Don’t miss Michael, from Atlanta, Georgia, finds himself at a crossroads and he called into Ramsey’s show to get some advice. He can either continue working for someone else or dive into small business ownership by purchasing an ice business. But as Ramsey tells him, he needs to make sure his financial foundation is solid before he can think about building a business — here’s what Michael (and other young Americans in his position) needs to do before he can even think about taking that big step. Small businesses are work Michael told Ramsey he was looking for advice on how best to secure the funds to buy out the owner of an ice business he currently works for. But as he explained, the owner has indicated his desire to sell the company within the next two years, which includes a building with existing tenants, for an asking price of $1 million. that he’s looking to take out a $1 million loan to buy a small business. Michael’s interested in taking over the business but needs the capital to buy it himself. The hosts were skeptical about Michael’s devotion to the ice business, but he told them he’s happy he was exposed to it so young because he sees great opportunity in the field. He’s also not technically in a bad place financially — Michael and his wife have worked diligently toward clearing their debts and improving their overall financial standing. But he’s also a 27-year-old still living in his parent’s house with no meaningful assets, and so Ramsey doesn’t think he’s prepared to make this step. He went on to talk some sense into Michael, with co-host John Delony backing him up, cautioning Michael this wasn’t an opportunity, rather a “trap.” “No bank’s going to loan you this,” Ramsey bluntly stated. “You don’t have the assets, you don’t have the income — you’re not bankable. Buying and running a small business will take the bone marrow out of you. It’ll drain you, it’ll squeeze you like yesterday’s dish rag, man.” Story continues Ramsey’s overall take is that being financially stable and debt-free before deciding to buy and own a small business is absolutely crucial. This is the same advice he’d give to his own son. “I would say you need a better, stronger personal financial foundation before you start talking about buying and running a small business,” remarked Ramsey. “You got a car payment and you live with your momma. You’re not ready to do it.” Read more: Rich young Americans have lost confidence in the stock market — and are betting on these assets instead. Get in now for strong long-term tailwinds Prioritize financial stability The U.S. Chamber of Commerce reported that there are 33.2 million small businesses in the U.S. Combined, these small businesses account for 99.9% of all U.S. businesses as of 2023 (this is a pretty impressive metric!) At the same time, roughly half (an astonishing 49%) of U.S. adults admit they wouldn’t be able to cover a $1,000 emergency in cash as of 2023. One way to fund the purchase of a small business is through an SBA (Small Business Association) loan. They usually range from $500 to $5.5 million. However, they do come with some downsides and risks:

Borrowers are usually required to make a down payment Borrowers with low credit scores usually won’t qualify Putting up collateral could be required There’s typically a slow approval process You may be personally liable if the business defaults If you’re looking to join the tens of millions of Americans who’ve made the jump into entrepreneurship, be sure that you’re not among the 49% who can’t afford an emergency expense. Personal financial stability should be of paramount importance before taking on any business venture. What to read next This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Source link Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ #Dave #Ramsey #crushes #27yearold #Atlanta #mans #ice #business #dream #opportunities #trap Source link Google News Source Link: https://finance.yahoo.com/news/dave-ramsey-crushes-27-old-102700387.html The post Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ appeared first on Merchant Business News. Buy, Sell, Get Informed, Negotiate and Be Happy! Business, Global BLOGGER - #Business #Global

[timenewsbusiness]

Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ https://www.merchant-business.com/dave-ramsey-crushes-27-year-old-atlanta-mans-ice-business-dream-why-some-opportunities-may-really-be-a-trap/?feed_id=5800&_unique_id=665b505629118 Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Most Americans would agree that your 20s should be a time of new experiences, growth and discovering your career path. And while it can be the perfect time to take risks and big swings, leaping without a safety net goes beyond just risky — that’s reckless territory. At least, that’s what personal finance celebrity Dave Ramsey recently cautioned 27-year-old Michael. Don’t miss Michael, from Atlanta, Georgia, finds himself at a crossroads and he called into Ramsey’s show to get some advice. He can either continue working for someone else or dive into small business ownership by purchasing an ice business. But as Ramsey tells him, he needs to make sure his financial foundation is solid before he can think about building a business — here’s what Michael (and other young Americans in his position) needs to do before he can even think about taking that big step. Small businesses are work Michael told Ramsey he was looking for advice on how best to secure the funds to buy out the owner of an ice business he currently works for. But as he explained, the owner has indicated his desire to sell the company within the next two years, which includes a building with existing tenants, for an asking price of $1 million. that he’s looking to take out a $1 million loan to buy a small business. Michael’s interested in taking over the business but needs the capital to buy it himself. The hosts were skeptical about Michael’s devotion to the ice business, but he told them he’s happy he was exposed to it so young because he sees great opportunity in the field. He’s also not technically in a bad place financially — Michael and his wife have worked diligently toward clearing their debts and improving their overall financial standing. But he’s also a 27-year-old still living in his parent’s house with no meaningful assets, and so Ramsey doesn’t think he’s prepared to make this step. He went on to talk some sense into Michael, with co-host John Delony backing him up, cautioning Michael this wasn’t an opportunity, rather a “trap.” “No bank’s going to loan you this,” Ramsey bluntly stated. “You don’t have the assets, you don’t have the income — you’re not bankable. Buying and running a small business will take the bone marrow out of you. It’ll drain you, it’ll squeeze you like yesterday’s dish rag, man.” Story continues Ramsey’s overall take is that being financially stable and debt-free before deciding to buy and own a small business is absolutely crucial. This is the same advice he’d give to his own son. “I would say you need a better, stronger personal financial foundation before you start talking about buying and running a small business,” remarked Ramsey. “You got a car payment and you live with your momma. You’re not ready to do it.” Read more: Rich young Americans have lost confidence in the stock market — and are betting on these assets instead. Get in now for strong long-term tailwinds Prioritize financial stability The U.S. Chamber of Commerce reported that there are 33.2 million small businesses in the U.S. Combined, these small businesses account for 99.9% of all U.S. businesses as of 2023 (this is a pretty impressive metric!) At the same time, roughly half (an astonishing 49%) of U.S. adults admit they wouldn’t be able to cover a $1,000 emergency in cash as of 2023. One way to fund the purchase of a small business is through an SBA (Small Business Association) loan. They usually range from $500 to $5.5 million. However, they do come with some downsides and risks:

Borrowers are usually required to make a down payment Borrowers with low credit scores usually won’t qualify Putting up collateral could be required There’s typically a slow approval process You may be personally liable if the business defaults If you’re looking to join the tens of millions of Americans who’ve made the jump into entrepreneurship, be sure that you’re not among the 49% who can’t afford an emergency expense. Personal financial stability should be of paramount importance before taking on any business venture. What to read next This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Source link Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ #Dave #Ramsey #crushes #27yearold #Atlanta #mans #ice #business #dream #opportunities #trap Source link Google News Source Link: https://finance.yahoo.com/news/dave-ramsey-crushes-27-old-102700387.html The post Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ appeared first on Merchant Business News. Buy, Sell, Get Informed, Negotiate and Be Happy!

[webpagesblognews]

Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ https://www.merchant-business.com/dave-ramsey-crushes-27-year-old-atlanta-mans-ice-business-dream-why-some-opportunities-may-really-be-a-trap/?feed_id=5798&_unique_id=665b5055032d7 Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Most Americans would agree that your 20s should be a time of new experiences, growth and discovering your career path. And while it can be the perfect time to take risks and big swings, leaping without a safety net goes beyond just risky — that’s reckless territory. At least, that’s what personal finance celebrity Dave Ramsey recently cautioned 27-year-old Michael. Don’t miss Michael, from Atlanta, Georgia, finds himself at a crossroads and he called into Ramsey’s show to get some advice. He can either continue working for someone else or dive into small business ownership by purchasing an ice business. But as Ramsey tells him, he needs to make sure his financial foundation is solid before he can think about building a business — here’s what Michael (and other young Americans in his position) needs to do before he can even think about taking that big step. Small businesses are work Michael told Ramsey he was looking for advice on how best to secure the funds to buy out the owner of an ice business he currently works for. But as he explained, the owner has indicated his desire to sell the company within the next two years, which includes a building with existing tenants, for an asking price of $1 million. that he’s looking to take out a $1 million loan to buy a small business. Michael’s interested in taking over the business but needs the capital to buy it himself. The hosts were skeptical about Michael’s devotion to the ice business, but he told them he’s happy he was exposed to it so young because he sees great opportunity in the field. He’s also not technically in a bad place financially — Michael and his wife have worked diligently toward clearing their debts and improving their overall financial standing. But he’s also a 27-year-old still living in his parent’s house with no meaningful assets, and so Ramsey doesn’t think he’s prepared to make this step. He went on to talk some sense into Michael, with co-host John Delony backing him up, cautioning Michael this wasn’t an opportunity, rather a “trap.” “No bank’s going to loan you this,” Ramsey bluntly stated. “You don’t have the assets, you don’t have the income — you’re not bankable. Buying and running a small business will take the bone marrow out of you. It’ll drain you, it’ll squeeze you like yesterday’s dish rag, man.” Story continues Ramsey’s overall take is that being financially stable and debt-free before deciding to buy and own a small business is absolutely crucial. This is the same advice he’d give to his own son. “I would say you need a better, stronger personal financial foundation before you start talking about buying and running a small business,” remarked Ramsey. “You got a car payment and you live with your momma. You’re not ready to do it.” Read more: Rich young Americans have lost confidence in the stock market — and are betting on these assets instead. Get in now for strong long-term tailwinds Prioritize financial stability The U.S. Chamber of Commerce reported that there are 33.2 million small businesses in the U.S. Combined, these small businesses account for 99.9% of all U.S. businesses as of 2023 (this is a pretty impressive metric!) At the same time, roughly half (an astonishing 49%) of U.S. adults admit they wouldn’t be able to cover a $1,000 emergency in cash as of 2023. One way to fund the purchase of a small business is through an SBA (Small Business Association) loan. They usually range from $500 to $5.5 million. However, they do come with some downsides and risks:

Borrowers are usually required to make a down payment Borrowers with low credit scores usually won’t qualify Putting up collateral could be required There’s typically a slow approval process You may be personally liable if the business defaults If you’re looking to join the tens of millions of Americans who’ve made the jump into entrepreneurship, be sure that you’re not among the 49% who can’t afford an emergency expense. Personal financial stability should be of paramount importance before taking on any business venture. What to read next This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Source link Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ #Dave #Ramsey #crushes #27yearold #Atlanta #mans #ice #business #dream #opportunities #trap Source link Google News Source Link: https://finance.yahoo.com/news/dave-ramsey-crushes-27-old-102700387.html The post Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ appeared first on Merchant Business News. Buy, Sell, Get Informed, Negotiate and Be Happy! Business, Global - BLOGGER - #Business #Global

[wolrdbusinessblog]

Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ https://www.merchant-business.com/dave-ramsey-crushes-27-year-old-atlanta-mans-ice-business-dream-why-some-opportunities-may-really-be-a-trap/?feed_id=5799&_unique_id=665b50558af08 Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Most Americans would agree that your 20s should be a time of new experiences, growth and discovering your career path. And while it can be the perfect time to take risks and big swings, leaping without a safety net goes beyond just risky — that’s reckless territory. At least, that’s what personal finance celebrity Dave Ramsey recently cautioned 27-year-old Michael. Don’t miss Michael, from Atlanta, Georgia, finds himself at a crossroads and he called into Ramsey’s show to get some advice. He can either continue working for someone else or dive into small business ownership by purchasing an ice business. But as Ramsey tells him, he needs to make sure his financial foundation is solid before he can think about building a business — here’s what Michael (and other young Americans in his position) needs to do before he can even think about taking that big step. Small businesses are work Michael told Ramsey he was looking for advice on how best to secure the funds to buy out the owner of an ice business he currently works for. But as he explained, the owner has indicated his desire to sell the company within the next two years, which includes a building with existing tenants, for an asking price of $1 million. that he’s looking to take out a $1 million loan to buy a small business. Michael’s interested in taking over the business but needs the capital to buy it himself. The hosts were skeptical about Michael’s devotion to the ice business, but he told them he’s happy he was exposed to it so young because he sees great opportunity in the field. He’s also not technically in a bad place financially — Michael and his wife have worked diligently toward clearing their debts and improving their overall financial standing. But he’s also a 27-year-old still living in his parent’s house with no meaningful assets, and so Ramsey doesn’t think he’s prepared to make this step. He went on to talk some sense into Michael, with co-host John Delony backing him up, cautioning Michael this wasn’t an opportunity, rather a “trap.” “No bank’s going to loan you this,” Ramsey bluntly stated. “You don’t have the assets, you don’t have the income — you’re not bankable. Buying and running a small business will take the bone marrow out of you. It’ll drain you, it’ll squeeze you like yesterday’s dish rag, man.” Story continues Ramsey’s overall take is that being financially stable and debt-free before deciding to buy and own a small business is absolutely crucial. This is the same advice he’d give to his own son. “I would say you need a better, stronger personal financial foundation before you start talking about buying and running a small business,” remarked Ramsey. “You got a car payment and you live with your momma. You’re not ready to do it.” Read more: Rich young Americans have lost confidence in the stock market — and are betting on these assets instead. Get in now for strong long-term tailwinds Prioritize financial stability The U.S. Chamber of Commerce reported that there are 33.2 million small businesses in the U.S. Combined, these small businesses account for 99.9% of all U.S. businesses as of 2023 (this is a pretty impressive metric!) At the same time, roughly half (an astonishing 49%) of U.S. adults admit they wouldn’t be able to cover a $1,000 emergency in cash as of 2023. One way to fund the purchase of a small business is through an SBA (Small Business Association) loan. They usually range from $500 to $5.5 million. However, they do come with some downsides and risks:

Borrowers are usually required to make a down payment Borrowers with low credit scores usually won’t qualify Putting up collateral could be required There’s typically a slow approval process You may be personally liable if the business defaults If you’re looking to join the tens of millions of Americans who’ve made the jump into entrepreneurship, be sure that you’re not among the 49% who can’t afford an emergency expense. Personal financial stability should be of paramount importance before taking on any business venture. What to read next This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Source link Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ #Dave #Ramsey #crushes #27yearold #Atlanta #mans #ice #business #dream #opportunities #trap Source link Google News Source Link: https://finance.yahoo.com/news/dave-ramsey-crushes-27-old-102700387.html The post Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ appeared first on Merchant Business News. Buy, Sell, Get Informed, Negotiate and Be Happy! Business, Global

[internetnewsmerchantblog]

Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ - #Business #Global https://www.merchant-business.com/dave-ramsey-crushes-27-year-old-atlanta-mans-ice-business-dream-why-some-opportunities-may-really-be-a-trap/?feed_id=5796&_unique_id=665b5053d7fed Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Most Americans would agree that your 20s should be a time of new experiences, growth and discovering your career path. And while it can be the perfect time to take risks and big swings, leaping without a safety net goes beyond just risky — that’s reckless territory. At least, that’s what personal finance celebrity Dave Ramsey recently cautioned 27-year-old Michael. Don’t miss Michael, from Atlanta, Georgia, finds himself at a crossroads and he called into Ramsey’s show to get some advice. He can either continue working for someone else or dive into small business ownership by purchasing an ice business. But as Ramsey tells him, he needs to make sure his financial foundation is solid before he can think about building a business — here’s what Michael (and other young Americans in his position) needs to do before he can even think about taking that big step. Small businesses are work Michael told Ramsey he was looking for advice on how best to secure the funds to buy out the owner of an ice business he currently works for. But as he explained, the owner has indicated his desire to sell the company within the next two years, which includes a building with existing tenants, for an asking price of $1 million. that he’s looking to take out a $1 million loan to buy a small business. Michael’s interested in taking over the business but needs the capital to buy it himself. The hosts were skeptical about Michael’s devotion to the ice business, but he told them he’s happy he was exposed to it so young because he sees great opportunity in the field. He’s also not technically in a bad place financially — Michael and his wife have worked diligently toward clearing their debts and improving their overall financial standing. But he’s also a 27-year-old still living in his parent’s house with no meaningful assets, and so Ramsey doesn’t think he’s prepared to make this step. He went on to talk some sense into Michael, with co-host John Delony backing him up, cautioning Michael this wasn’t an opportunity, rather a “trap.” “No bank’s going to loan you this,” Ramsey bluntly stated. “You don’t have the assets, you don’t have the income — you’re not bankable. Buying and running a small business will take the bone marrow out of you. It’ll drain you, it’ll squeeze you like yesterday’s dish rag, man.” Story continues Ramsey’s overall take is that being financially stable and debt-free before deciding to buy and own a small business is absolutely crucial. This is the same advice he’d give to his own son. “I would say you need a better, stronger personal financial foundation before you start talking about buying and running a small business,” remarked Ramsey. “You got a car payment and you live with your momma. You’re not ready to do it.” Read more: Rich young Americans have lost confidence in the stock market — and are betting on these assets instead. Get in now for strong long-term tailwinds Prioritize financial stability The U.S. Chamber of Commerce reported that there are 33.2 million small businesses in the U.S. Combined, these small businesses account for 99.9% of all U.S. businesses as of 2023 (this is a pretty impressive metric!) At the same time, roughly half (an astonishing 49%) of U.S. adults admit they wouldn’t be able to cover a $1,000 emergency in cash as of 2023. One way to fund the purchase of a small business is through an SBA (Small Business Association) loan. They usually range from $500 to $5.5 million. However, they do come with some downsides and risks:

Borrowers are usually required to make a down payment Borrowers with low credit scores usually won’t qualify Putting up collateral could be required There’s typically a slow approval process You may be personally liable if the business defaults If you’re looking to join the tens of millions of Americans who’ve made the jump into entrepreneurship, be sure that you’re not among the 49% who can’t afford an emergency expense. Personal financial stability should be of paramount importance before taking on any business venture. What to read next This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Source link Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ #Dave #Ramsey #crushes #27yearold #Atlanta #mans #ice #business #dream #opportunities #trap Source link Google News Source Link: https://finance.yahoo.com/news/dave-ramsey-crushes-27-old-102700387.html The post Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ appeared first on Merchant Business News. Buy, Sell, Get Informed, Negotiate and Be Happy! Business, Global Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Most Americans would agree that your 20s should be a time of new experiences, growth and discovering your career … Read More

[universalblogbusinessnews]

Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ https://www.merchant-business.com/dave-ramsey-crushes-27-year-old-atlanta-mans-ice-business-dream-why-some-opportunities-may-really-be-a-trap/?feed_id=5797&_unique_id=665b50546decd Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ Most Americans would agree that your 20s should be a time of new experiences, growth and discovering your career path. And while it can be the perfect time to take risks and big swings, leaping without a safety net goes beyond just risky — that’s reckless territory. At least, that’s what personal finance celebrity Dave Ramsey recently cautioned 27-year-old Michael. Don’t miss Michael, from Atlanta, Georgia, finds himself at a crossroads and he called into Ramsey’s show to get some advice. He can either continue working for someone else or dive into small business ownership by purchasing an ice business. But as Ramsey tells him, he needs to make sure his financial foundation is solid before he can think about building a business — here’s what Michael (and other young Americans in his position) needs to do before he can even think about taking that big step. Small businesses are work Michael told Ramsey he was looking for advice on how best to secure the funds to buy out the owner of an ice business he currently works for. But as he explained, the owner has indicated his desire to sell the company within the next two years, which includes a building with existing tenants, for an asking price of $1 million. that he’s looking to take out a $1 million loan to buy a small business. Michael’s interested in taking over the business but needs the capital to buy it himself. The hosts were skeptical about Michael’s devotion to the ice business, but he told them he’s happy he was exposed to it so young because he sees great opportunity in the field. He’s also not technically in a bad place financially — Michael and his wife have worked diligently toward clearing their debts and improving their overall financial standing. But he’s also a 27-year-old still living in his parent’s house with no meaningful assets, and so Ramsey doesn’t think he’s prepared to make this step. He went on to talk some sense into Michael, with co-host John Delony backing him up, cautioning Michael this wasn’t an opportunity, rather a “trap.” “No bank’s going to loan you this,” Ramsey bluntly stated. “You don’t have the assets, you don’t have the income — you’re not bankable. Buying and running a small business will take the bone marrow out of you. It’ll drain you, it’ll squeeze you like yesterday’s dish rag, man.” Story continues Ramsey’s overall take is that being financially stable and debt-free before deciding to buy and own a small business is absolutely crucial. This is the same advice he’d give to his own son. “I would say you need a better, stronger personal financial foundation before you start talking about buying and running a small business,” remarked Ramsey. “You got a car payment and you live with your momma. You’re not ready to do it.” Read more: Rich young Americans have lost confidence in the stock market — and are betting on these assets instead. Get in now for strong long-term tailwinds Prioritize financial stability The U.S. Chamber of Commerce reported that there are 33.2 million small businesses in the U.S. Combined, these small businesses account for 99.9% of all U.S. businesses as of 2023 (this is a pretty impressive metric!) At the same time, roughly half (an astonishing 49%) of U.S. adults admit they wouldn’t be able to cover a $1,000 emergency in cash as of 2023. One way to fund the purchase of a small business is through an SBA (Small Business Association) loan. They usually range from $500 to $5.5 million. However, they do come with some downsides and risks:

Borrowers are usually required to make a down payment Borrowers with low credit scores usually won’t qualify Putting up collateral could be required There’s typically a slow approval process You may be personally liable if the business defaults If you’re looking to join the tens of millions of Americans who’ve made the jump into entrepreneurship, be sure that you’re not among the 49% who can’t afford an emergency expense. Personal financial stability should be of paramount importance before taking on any business venture. What to read next This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Source link Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ #Dave #Ramsey #crushes #27yearold #Atlanta #mans #ice #business #dream #opportunities #trap Source link Google News Source Link: https://finance.yahoo.com/news/dave-ramsey-crushes-27-old-102700387.html The post Dave Ramsey crushes 27-year-old Atlanta man’s ice business dream — why some opportunities may really be a ‘trap’ appeared first on Merchant Business News. Buy, Sell, Get Informed, Negotiate and Be Happy! Business, Global

[atomxmedia]

RBI Fines Yes Bank for Improper Charges and Internal Account Practices

The Reserve Bank of India (RBI), India’s central bank, has imposed a penalty on Yes Bank for violation of specific banking regulations. The penalty comes after a statutory inspection of Yes Bank’s books during the RBI’s supervisory evaluation for the 2022 financial year (FY22).

Non-Compliance with Minimum Balance Charges

A key area of non-compliance identified by the RBI involved Yes Bank’s practice of levying charges on savings accounts that had zero balance. The RBI guidelines clearly stipulate that banks can only charge customers for banking services if there is a sufficient balance in their accounts. If an account balance reaches zero, the bank is mandated to suspend its services, not incur additional charges.

These guidelines were established in 2014 to protect consumers from excessive fees, particularly those who might unintentionally fall below the minimum balance requirement. The RBI specifically emphasizes that a savings account balance should not turn negative solely due to charges levied for non-maintenance of minimum balance.

Unauthorized Use of Internal Accounts

The RBI also discovered that Yes Bank had opened and operated internal accounts in the names of customers. These accounts were allegedly used for unauthorized purposes, including “parking funds” and “routing transactions.”

Parking funds refers to the practice of temporarily holding excess cash within internal accounts. This can be done for various reasons, such as manipulating financial statements or avoiding regulatory scrutiny. Routing transactions through internal accounts raises concerns about transparency and accountability. It’s unclear whether these internal accounts were linked to actual customers or created fictitiously.

RBI Penalty and Regulatory Action

Yes Bank was not the only bank penalized by the RBI. ICICI Bank, another major Indian private bank, also received a penalty of Rs 1 crore (approximately $125,000 USD) for irregularities in sanctioning a project loan. The RBI’s findings suggest that ICICI Bank approved the loan without proper due diligence on the project’s viability and ability to repay the loan (bankability). Additionally, the bank allegedly allowed the borrower to use budgetary resources to repay the loan, raising concerns about the legitimacy of the entire transaction.

The specific amount of the penalty imposed on Yes Bank was Rs 91 lakh (approximately $113,750 USD). While the financial implications might be limited, the RBI’s action serves as a significant regulatory warning to Yes Bank. It highlights the importance of adhering to established banking norms and prioritizing customer protection.

Impact on Yes Bank and Customers

The RBI’s penalty could potentially damage Yes Bank’s reputation, particularly if details regarding the unauthorized use of internal accounts emerge. Customers might lose trust in the bank’s ability to safeguard their financial information and handle their accounts responsibly.

Yes Bank has yet to publicly comment on the specific nature of the unauthorized internal account activities. However, it’s crucial for the bank to take corrective measures to regain customer confidence. This could involve providing a detailed explanation of the situation, outlining steps taken to prevent future occurrences, and potentially offering compensation to affected customers.

Industry Implications and Regulatory Scrutiny

The RBI’s action against Yes Bank and ICICI Bank sends a strong message to the entire Indian banking industry. It emphasizes the importance of adhering to regulations and ethical practices. This incident is likely to prompt increased scrutiny from the RBI towards other banks, potentially leading to further investigations and penalties for non-compliant practices.

Moving forward, Indian banks need to ensure robust internal controls and compliance procedures are in place to prevent similar incidents. Transparency and accountability are paramount in maintaining customer trust and fostering a healthy banking ecosystem.

Consumer Awareness and Regulatory Action

This incident serves as an important reminder for Indian consumers to be aware of their banking rights and understand the terms and conditions associated with their accounts. Customers should proactively monitor their account statements and challenge any unauthorized charges or activities.

The RBI’s role in ensuring regulatory compliance and protecting consumer interests is critical. This recent action demonstrates the central bank’s commitment to holding banks accountable for their practices. It’s anticipated that the RBI will continue to actively monitor the banking sector and take necessary steps to maintain stability and ethical conduct within the industry.

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