Goals That Help & Goals That HinderWritten by ©Susan Dunn, MA Clinical Psychology, The EQ Coach
Short-term goals, long-term goals, decisions and choices. What to do?Have your goals, and yes, write them down. The short-term goals should get you to your long-term goal, but keep your eye on long-term goal, as if you were jumping hurdles. The long-term goal is line to cross at end, and short-term goals are hurdles. If you stop and look at each hurdle you're trying to cross, well, you know what will happen. So remember what long-term goal is and don't let what goes on with short-term goals stop your forward motion. For instance, when you're changing oil in your car ... no, sorry I'm going to have to use a pie-baking example. To bake a good apple pie you have to measure flour, sugar, butter, salt and pare and core apples, but you can be a bit off on your measurements at any point and still come out fine. As to commitment and choice, you always have right to change your mind. Your dreams and plans may change over your lifespan, as will your financial needs, and priorities, and sometimes even your values. Remember that life lives you as much as you live life. In pursuing one goal you may gain skills you decide you'd rather apply elsewhere, and you will still end up in a good place.
| | Business Financing - Where to get it and why you would want a SBA Loan and Seller FinancingWritten by Jim Brown
Business Financing - Where to get it and why you would want a SBA Loan and Seller FinancingBusiness financing can come in form of conventional loans, SBA (Small Business Administration) loans, and seller financing. A combination of three forms may be used, but SBA loans are by far most popular. In fact, SBA loans are primary source of capital injected into small business community nationwide. Last year SBA assisted small businesses with over $10 Billion Dollars of loan guaranties. The Small Business Administration more commonly known as SBA is a Federal Agency established in 1953 to protect and assist America's greatest resource... small businesses. SBA's mission is to stimulate and foster economic development through small businesses, because helping small businesses get started and become successful is great for nation's economy. Briefly, SBA loan guarantee program works in following manner. The SBA will guarantee a portion of a business loan made by a lender enrolled in program. By issuing a partial Federal Guarantee to Bank, your loan, which might not be approved on conventional terms, can now be approved via a SBA guaranteed loan. SBA Loan benefits include longer terms and larger loan amounts than you might be able to obtain through a conventional loan. They also include competitive interest rates and no balloon payments or annual reviews. Furthermore, SBA loans are fully amortized and loan terms typically range from 7 to 25 years depending on purpose. To understand benefits of full amortization, consider a loan that is used to purchase commercial real estate. The conventional bank loan is normally amortized over 15 to 20 years and renewed every 3 or 5 years. So, when a small business owner faces 3 year review of that conventional loan: The bank may decide that its risk appetite no longer favors loans for those types of businesses and therefore requires full payment. The bank may review and reamortize loan over another 15 to 20 year period, which would mean more interest over term of loan. If small business is doing well, bank may renew loan as is, but often borrower has to pay thousands of dollars in costs associated with renewed loan application. All of that uncertainty and additional expense for refinancing or restructuring of loan is eliminated with SBA financing.
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