If you are in the process of expanding an existing business or taking the first steps to becoming your own boss, there are several steps to take until your company is up and functioning properly. A great way to expand a business is to locate a business site in which you can set up and run as your company. In order to raise the finance to purchase such a premises you must find a lender who is willing to lend to you based on the value of the property you are buying. This is called a commercial loan and is similar to your traditional home loan but with slight differences. Firstly the LTVs are lower than with home loans as business viability is riskier. Usually a maximum of 75% LTV is available though sometimes higher can be achieved. Secondly the income of the business, rather than the individual, is analysed as a priority. And finally, even after all this, the individual may be asked to offer Personal Guarantees as security. It’s a complex field and therefore speaking with a commercial mortgage specialist is highly advisable.How to get the best rate for your money?Once you have made the final choice to expand your business and have located professional help, it is important you sit down with your banker and discuss your financial situation and what you plan to spend, in order to build a successful business. A business loan is very hard to come by especially if you have had past judgments against you that may lower your chances to obtain a loan. One option that has been successful for other business owners is going directly to the same bank in which approved you for their home mortgage loan. The great thing about a local bank that has established a relationship with you already is the trust factor that is present in every mortgage payment you have made in the past up to this point in order to increase your credit score. Many also have several incentives available to their customers to apply for a commercial mortgage loan including discounted rates lower deposits.When to put your offer on the table?Once you have found the perfect building for your business it is up to you to act quickly to secure it. You will always be in a stronger position as a Buyer of you can show finance in place so it is worth discussing with you bank in advance of your search to see what funds are available to you It is likely they can pre-approve you based on certain scenarios and give you an idea of what it is you can afford. With finance in place you can then go about negotiating the best deal. Nothing sways a Seller’s price more than the thought of a clean transaction with cash up front – this will always be your most powerful negotiation tool. At last, when you have signed the contract and settled all disputes you can now sit back and enjoy the freedom that comes with knowing your business premises are secure.Copyright © 2011

When you’re trying to pay down your debt sometimes going to the right high caliber outside agency will actually lower your debt and lower your monthly payments. Nowadays many people go to a credit counseling service for this help. A credit counseling agency can help you if you have a large amount of outstanding debts.But you must do a thorough check on any agency you are considering because unfortunately a lot of unscrupulous agencies have sprung up whose sole business purpose is to take advantage of people in need. There are a number of ways to find legitimate credit counseling agencies.The first thing would be to go on the Internet to the National Foundation For Credit. Pick one of their member agencies. They’re certified by the NFCC and they’re non-profit. Being a non-profit credit counseling agency does not necessarily guarantee that they are legitimate, but it’s a good place to begin. When you get in touch with a credit counseling agency they’ll make an appointment for you to bring in lists of your income (if any), assets, and expenses along with any letters you have from all the people you owe money to.The goal of a legitimate agency is to negotiate lower interest rates as well as lower you monthly payments. The goal of a bogus agency is to separate you from your money. Legitimate credit counseling agencies might be able to negotiate lump sum payoffs that are less than the total that you owe. Keep in mind that if you go this route it will be noted on your credit report – and that will lower your credit score.However, at this point in time your credit is probably challenged anyway. So doing this can make life easier for you and ultimately put you back on the road to a better credit rating.How It WorksYou’ll pay the credit counseling agency a small monthly setup fee and perhaps an additional fee for each account that you owe money to. In return they will contact your creditors and negotiate lower monthly payments. For example, if you’re paying off five bills and they charge $5 each, that comes to $25 per day. You would give a check to the agency and they will pay these creditors.The Advantages of Using A Credit Counseling AgencyYour major advantage is that they can often negotiate lower interest rates and lower fees than you’d be able to on your own. That doesn’t mean that you should blindly accept their advice. Look carefully at the plan they are proposing. See if it makes sense. If their plan doesn’t look like it will save you money or help you to pay off your debt sooner don’t feel pressured to do it.Also, because there are so many bogus credit counseling agencies, most people do considerably more research into a company’s background before they sign an agreement with the one they want to represent them.