When obtaining a business opportunity loan, borrowers will discover that many lenders simply do not provide business loans that do not include real estate as part of the business purchase. There are several other important business financing issues to analyze prior to buying a business without commercial property.
Interest in buying business opportunity investments has improved because of serious problems with residential real estate. However, because there are so many critical differences between financing residential real estate and business financing, it is important for potential business owners to educate themselves before proceeding.
In order to buy a business, a commercial borrower is likely to need business financing. If the business includes commercial real estate, the borrower will need a commercial mortgage. If the business purchase does not involve real estate, a business borrower must use a business opportunity loan.
Unfortunately the availability of business opportunity financing is more restricted than commercial real estate financing. There are also some potential limitations and problems unique to a business opportunity loan, and commercial borrowers should make every effort to avoid these business financing difficulties.
Our goal here is to focus on several financing issues that you should anticipate when commercial real estate is not part of the business purchase. Our suggested approach to business opportunity financing is provided below.
Begin your business opportunity investment financing plans by formulating a realistic assessment of cash available for a down payment and desired maximum business purchase price. A down payment of about 25% is suggested for most business financing situations described here. Usually seller financing is permissible for a portion of the down payment, but a potential buyer generally needs to plan on investing at least 10% of the purchase price from their own funds even if the seller is providing 15% or more.
Because Small Business Administration loans are essential for this kind of financing, you should explore whether you will in fact be able to qualify for these specialized business loans. This step is both important and somewhat complicated, and the involvement of an SBA loan expert is strongly advised. Among the issues to explore are whether collateral is available for SBA financing and how important refinancing is to your overall business opportunity financing process.
It is important to consider the lease terms which are possible. As noted previously, business opportunity financing and investing does not involve the purchase of commercial real estate, so arrangements must be made for a long-term lease. A ten-year maximum loan term is likely, and a shorter financing term will probably be required if the length of the lease is for less than ten years. In other words, with a seven-year lease, the commercial loan is likely to be for seven years, and even with a fifteen-year lease, the commercial financing will probably expire in ten years.
When buying a business, inquire about the possibility of including commercial real estate. With the inclusion of commercial property, you can obtain a longer business loan and the interest rate will be lower. Because the absence of a commercial mortgage can actually be an advantage, the improved terms possible by including real estate should not be looked at in isolation.
Before any offers are made to buy a business investment, borrowers should discuss their financing options with an expert for business opportunity loans. These discussions should include issues such as potential purchase price, down payment possibilities, seller financing, buyer credit scores, tax return requirements and collateral options.
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Friday, October 31, 2008
Tuesday, October 28, 2008
How Fundraising can help you
With increasing social awareness for self-help groups and third sectors’ activities as Non-Governmental Organizations, fundraising is a growing concern. However the idea of fundraising is not a new one. Fundraising for social and religious causes has been a tradition from early days of modern society.
Fundraising is the practice for imploring and assembling monetary assets or other material gifts from individuals or organizations by a way of earnest request for various charitable, social, religious or even political causes. There are innumerable possible methods to go about it. One example is a very old tradition of selling candies or other handicrafts during Halloween by children to raise funds. Some most popular modern methods are cards fundraising, magazine fundraising and lollipop fundraising.
There are various fundraisers who practice regular fundraising schemes to meet their specific necessities. Different religious organizations operate as fundraisers at local, national and even global platform for charitable and evangelic causes. Political organizations also appear as fundraisers for political campaigns to promote or demote candidates. Political organizations also arrange schemes for charitable and social causes as a tool for image building.
Different individuals, NGOs, community groups, local organizations operate fundraising programs for local and social causes. These programs can be arranged by anyone who has a solid cause to raise funds and who has the ground to appeal to others for help. With the increasing necessity for fundraising, various professional organizations have come up to help people with good causes. These professional fundraisers generally do not charge anything initially. First, they help you with their large business network and products. With their support you can successfully start generating high amounts of profit. Once you make gains they will charge you a percentage or commission for their services.
Professional fundraising organizations can help you to invent new ideas, and implement those in a larger way which will help magnify your cause hundreds times over. These organizations provide many services as online fundraising, school fundraising, church fundraising, college fundraising and more. With its high success rate, this has become a major tool for marketing and relationship building. Specific products have become key reasons for corporate houses to collaborate with fundraising schemes and fundraisers.
In fundraising cards, there can be options like custom discount cards, local favorite’s cards, pizza fundraising cards, sandwich fundraising cards and many more. It works in a simple manner. For example, you can tie up with one local popular business and create local favorite cards. These cards will offer an attractive amount of discount on purchases from that retail house or on a particular product. By selling this card in a low price in your locality you may raise funds for your own cause.
Online fundraising programs work in a similar fashion. It includes magazine fundraising, credit card fundraising, even pay per click options. Online programs are more convenient, hassle free and fast. Fund raising ideas can range from books, calendar, scented candles, brochure, foods and candies, handicrafts, CDs or DVDs, first aid kits, giftware, clothes, and accessories – an unending list. You may also arrange donor recognition schemes in collaboration with popular or local business houses. The options are as many as your creative imagination can deploy.
Fundraising is the practice for imploring and assembling monetary assets or other material gifts from individuals or organizations by a way of earnest request for various charitable, social, religious or even political causes. There are innumerable possible methods to go about it. One example is a very old tradition of selling candies or other handicrafts during Halloween by children to raise funds. Some most popular modern methods are cards fundraising, magazine fundraising and lollipop fundraising.
There are various fundraisers who practice regular fundraising schemes to meet their specific necessities. Different religious organizations operate as fundraisers at local, national and even global platform for charitable and evangelic causes. Political organizations also appear as fundraisers for political campaigns to promote or demote candidates. Political organizations also arrange schemes for charitable and social causes as a tool for image building.
Different individuals, NGOs, community groups, local organizations operate fundraising programs for local and social causes. These programs can be arranged by anyone who has a solid cause to raise funds and who has the ground to appeal to others for help. With the increasing necessity for fundraising, various professional organizations have come up to help people with good causes. These professional fundraisers generally do not charge anything initially. First, they help you with their large business network and products. With their support you can successfully start generating high amounts of profit. Once you make gains they will charge you a percentage or commission for their services.
Professional fundraising organizations can help you to invent new ideas, and implement those in a larger way which will help magnify your cause hundreds times over. These organizations provide many services as online fundraising, school fundraising, church fundraising, college fundraising and more. With its high success rate, this has become a major tool for marketing and relationship building. Specific products have become key reasons for corporate houses to collaborate with fundraising schemes and fundraisers.
In fundraising cards, there can be options like custom discount cards, local favorite’s cards, pizza fundraising cards, sandwich fundraising cards and many more. It works in a simple manner. For example, you can tie up with one local popular business and create local favorite cards. These cards will offer an attractive amount of discount on purchases from that retail house or on a particular product. By selling this card in a low price in your locality you may raise funds for your own cause.
Online fundraising programs work in a similar fashion. It includes magazine fundraising, credit card fundraising, even pay per click options. Online programs are more convenient, hassle free and fast. Fund raising ideas can range from books, calendar, scented candles, brochure, foods and candies, handicrafts, CDs or DVDs, first aid kits, giftware, clothes, and accessories – an unending list. You may also arrange donor recognition schemes in collaboration with popular or local business houses. The options are as many as your creative imagination can deploy.
The Best Financing For Your Business
The business credit is one of the most popular form of business loans. The noticeable feature of business credit is that, it is easier to get a business credit than any other forms of business loans. The added advantage of the business credit is that they are available even for businesses that have not been in business for a long time.
A business line of credit can be used for short term cash flow management, to make special or seasonal purchases, to re-stock inventory or supplies or for just about any other reason that can satisfy the banks demand for its usefulness to the business. A business line of credit is not normally made available to pay for salaries or bonuses to the employees of a business or to repay creditors from other banking arrangements. The business credit comes in handy for small businesses that are in the starting line up. These business credits help the businessmen to expand their business in to a huge enterprise in the future.
There are several ways today to get the business credit. The common method is to approach a bank or credit union where you already do your business banking. They know you, not just from seeing your face as you make deposits or withdrawals but they also know your personal credit history and this becomes an important factor in granting a business line of credit. Banks are most comfortable lending money to customers that they already know than the off the street business. This will help you not only get the business line of credit that your business may need but also help you get the best possible interest rate for your hard earned business dollar.
Some firms like ‘the New Way Group’ provide short term and long term financing solutions to small business entrepreneurs. Regardless the type or size of the business, getting a business credit is made much easier through these firms. Unlike these firms who do not claim many documents for granting a business credit, a bank usually requires a business to have been in operation for a minimum of two years before granting a business line of credit. That is because the likelihood of a business failing within the first two years is far greater than at any period in its term of operation. Once a business passes this threshold a bank is much more likely to consider a business as a candidate for loans or lines of credit.
Having a small business can be a challenge, especially I a long run, when it comes to having enough money to suit your needs. But having a business credit can greatly help you and your business get off to the start they deserve.
Thursday, October 23, 2008
Your Financial Future
Offering tips for retirement planning can open up a touchy subject. While some couples have been preparing for retirement their entire adult lives, others have barely thought about it. Neither end of this preparation spectrum is unusual, but it is clear that the former mind set will leave you feeling much more comfortable with your future. When it comes to planning retirement, a few tips might be just what you need to get a jump start. You might be working hard now, but that only means that you'll appreciate retirement all the more.
Beginning With Baby Steps
Following tips and advice for retirement planning does not mean that you have to sit down and draw up an extensive financial plan. Nobody expects you to be nearly this prepared! However, there are a few baby steps that you can take to make your future brighter. With each retirement planning tip you follow, you will see your future growing brighter and brighter.
The first step to retirement planning is making a few predictions. Nobody expects you to give an exact date of retirement, but it can be helpful to have a goal or an idea in your head. Having this target date will only make you work harder toward your goal. Next, estimate how much more money you will need to accumulate by this date. There are several on line tools that make this very easy.
The next tip for retirement planning is to investigate your options. You should be aware of what your basic Social Security benefits are-if you're not, you can easily find out by examining the Social Security statement that arrives around the time of your birthday.
Also, check with your boss to see if a retirement plan is offered through your place of employment; if not, ask about how you might start one. Talk with your tax adviser about IRA options, and seek general advice from a professional financial planner. The more information you know and the more questions you ask, the more prepared you will be for retirement.
Keep Your Common Sense
Much of retirement planning involves common sense, not tips and guidelines. For example, as you grow older, try to leave your savings alone for the most part. Try keeping a long term savings account for retirement only, and a separate short term savings account for emergencies. You will be sure to appreciate this money upon retirement.
Another piece of advice is to not fall for investment scams. These ploys for money get people every time-but they don't have to get you. Use your common sense when looking into any type of investment, and if you have suspicions, then you can always contact your Better Business Bureau or Secretary of State.
Changing Locations
Another tip for planning your retirement is to consider what your future living situation might be. Many retired elderly couples wait until they can no longer go up and down the stairs of their homes before they decide to move into a more manageable home. If you plan this move before hand, you will be sure to have more options, and perhaps even make a profit ff of your current house!
Investigating the cost of living in various cities and retirement communities can also prove to be beneficial during retirement planning. It might even be another way for you to save money. If you consider your living situation when you still have control of it, you will have many more options available to you.
Ready To Retire!
Planning for your retirement might seem very intimidating, but taking the time to think about it now will ensure that you are better off in the long run. A few baby steps in the right direction won't hurt you-only ensure that your retirement will be all the better!
Beginning With Baby Steps
Following tips and advice for retirement planning does not mean that you have to sit down and draw up an extensive financial plan. Nobody expects you to be nearly this prepared! However, there are a few baby steps that you can take to make your future brighter. With each retirement planning tip you follow, you will see your future growing brighter and brighter.
The first step to retirement planning is making a few predictions. Nobody expects you to give an exact date of retirement, but it can be helpful to have a goal or an idea in your head. Having this target date will only make you work harder toward your goal. Next, estimate how much more money you will need to accumulate by this date. There are several on line tools that make this very easy.
The next tip for retirement planning is to investigate your options. You should be aware of what your basic Social Security benefits are-if you're not, you can easily find out by examining the Social Security statement that arrives around the time of your birthday.
Also, check with your boss to see if a retirement plan is offered through your place of employment; if not, ask about how you might start one. Talk with your tax adviser about IRA options, and seek general advice from a professional financial planner. The more information you know and the more questions you ask, the more prepared you will be for retirement.
Keep Your Common Sense
Much of retirement planning involves common sense, not tips and guidelines. For example, as you grow older, try to leave your savings alone for the most part. Try keeping a long term savings account for retirement only, and a separate short term savings account for emergencies. You will be sure to appreciate this money upon retirement.
Another piece of advice is to not fall for investment scams. These ploys for money get people every time-but they don't have to get you. Use your common sense when looking into any type of investment, and if you have suspicions, then you can always contact your Better Business Bureau or Secretary of State.
Changing Locations
Another tip for planning your retirement is to consider what your future living situation might be. Many retired elderly couples wait until they can no longer go up and down the stairs of their homes before they decide to move into a more manageable home. If you plan this move before hand, you will be sure to have more options, and perhaps even make a profit ff of your current house!
Investigating the cost of living in various cities and retirement communities can also prove to be beneficial during retirement planning. It might even be another way for you to save money. If you consider your living situation when you still have control of it, you will have many more options available to you.
Ready To Retire!
Planning for your retirement might seem very intimidating, but taking the time to think about it now will ensure that you are better off in the long run. A few baby steps in the right direction won't hurt you-only ensure that your retirement will be all the better!
Monday, October 20, 2008
Corporate Finance
The field of corporate finance deals with the decisions of finance taken by corporations along with the analysis and the tools required for taking such decisions. The principle aim of corporate finance is enhancing the corporate value and at the same time reducing the financial risks of the company. In addition to this, corporate finance also deals in getting the maximum returns on the invested capital of the company. The major concepts of corporate finance are applied to the problems of finance encountered by all type of firms.
The discipline of corporate finance can be split into the short term and the long term techniques of decisions. The investments of capital are the long term decisions relating to the projects and the methods required to finance them. On the other hand, the capital management for working is considered as a short term decision that deals with the short term current liabilities and asset balance. The main focus here rests on the management of inventories, cash and, the lending and borrowing on a short term basis.
Corporate finance is also associated with the field of investment banking. Here, the role of the investment banker is the evaluation of the various projects coming to the bank and making proper investment decisions regarding them.
The Capital Structure:
A proper finance structure is required for achieving the set goals of corporate finance. The management has to therefore design a proper structure that has an optimal mix of the different finance options that are available.
Generally, the sources of finance will comprise of a mix of equity as well as debt. If a project is financed through debt, it results in causing a liability to the concerned company. Hence in such cases, the flow of cash has various implications regardless of the success of the project. The financing done by equity carries a lower risk regarding the commitments of the flow of cash, but the result of this is the dilution of the earnings and the ownership. The cost involved in equity finance is also higher in the case of debt finance. Hence, it is understood that the finance done through equity, offsets the reduction in the risk of cash flow. The management has to hence have a mix of both the options.
The Decisions of Capital Investments:
The decisions of capital investments are the long term decisions of corporate finance that are related to the capital structure and the fixed assets. These decisions are based of several criteria that are inter-related. The management of corporate finance attempts to maximize the firm's value by making investments in the projects that have a positive yield. The finance options for such projects have to be done in a proper manner.
The discipline of corporate finance can be split into the short term and the long term techniques of decisions. The investments of capital are the long term decisions relating to the projects and the methods required to finance them. On the other hand, the capital management for working is considered as a short term decision that deals with the short term current liabilities and asset balance. The main focus here rests on the management of inventories, cash and, the lending and borrowing on a short term basis.
Corporate finance is also associated with the field of investment banking. Here, the role of the investment banker is the evaluation of the various projects coming to the bank and making proper investment decisions regarding them.
The Capital Structure:
A proper finance structure is required for achieving the set goals of corporate finance. The management has to therefore design a proper structure that has an optimal mix of the different finance options that are available.
Generally, the sources of finance will comprise of a mix of equity as well as debt. If a project is financed through debt, it results in causing a liability to the concerned company. Hence in such cases, the flow of cash has various implications regardless of the success of the project. The financing done by equity carries a lower risk regarding the commitments of the flow of cash, but the result of this is the dilution of the earnings and the ownership. The cost involved in equity finance is also higher in the case of debt finance. Hence, it is understood that the finance done through equity, offsets the reduction in the risk of cash flow. The management has to hence have a mix of both the options.
The Decisions of Capital Investments:
The decisions of capital investments are the long term decisions of corporate finance that are related to the capital structure and the fixed assets. These decisions are based of several criteria that are inter-related. The management of corporate finance attempts to maximize the firm's value by making investments in the projects that have a positive yield. The finance options for such projects have to be done in a proper manner.
Car Finance UK
Today car becomes very essential for every human’s life. There are many people who have their own car but many people don’t have a car. They have not enough credit to buy a new branded car so they need car finance to do so. Car finance UK is so simple but it is not simple to get it in cheap interest rates. So that when you search for car finance UK you should try to get financed from that company who can offer you a cheap rate loan. It is necessary to minimize your burden on your finances and repaying ability.
In UK there are various lenders who offer cheap car finance for new and used car. You should try to get various loan quotes from various lenders and have to compare it for cheap rate finance before searching for car finance UK. There are a large numbers of lenders who offers cheap car finance in UK. It is suitable that you should not recognize a lender's propose without comparing the car loan quotes. Before financing a car you need to check all the documents and the deals that are offered by your car financier. It would be your best decision to shop around for the best loan deal.
Many people can not have enough cash or saving to buy a car but they need car also so they wander for finance companies to get their dream car. Some of them get cheap rate finance but some of them pay higher for their finance. So they need to search online for various car finance UK companies. There are a lot of car finance websites available in which they provide various scheme and their other information related to car finance. So don’t wander hither and thither and go online search for best car finance UK.
If you have a bad credit history and you are unable to find car finance company that offer cheap rate finance, you should go online and search a website that can fulfill your need. For guaranteed cheap rate on car finance UK, prefer borrowing it aligned with your esteemed asset like home. So pertain to an online lender for cheap car finance in the UK. But ensure that you have compared well the online financier so that you have a proposal of how cheap rate loan can be getting in the UK.
In UK there are various lenders who offer cheap car finance for new and used car. You should try to get various loan quotes from various lenders and have to compare it for cheap rate finance before searching for car finance UK. There are a large numbers of lenders who offers cheap car finance in UK. It is suitable that you should not recognize a lender's propose without comparing the car loan quotes. Before financing a car you need to check all the documents and the deals that are offered by your car financier. It would be your best decision to shop around for the best loan deal.
Many people can not have enough cash or saving to buy a car but they need car also so they wander for finance companies to get their dream car. Some of them get cheap rate finance but some of them pay higher for their finance. So they need to search online for various car finance UK companies. There are a lot of car finance websites available in which they provide various scheme and their other information related to car finance. So don’t wander hither and thither and go online search for best car finance UK.
If you have a bad credit history and you are unable to find car finance company that offer cheap rate finance, you should go online and search a website that can fulfill your need. For guaranteed cheap rate on car finance UK, prefer borrowing it aligned with your esteemed asset like home. So pertain to an online lender for cheap car finance in the UK. But ensure that you have compared well the online financier so that you have a proposal of how cheap rate loan can be getting in the UK.
Friday, October 17, 2008
Business Loans and Business Finance
With the increasingly chaotic investment climate for residential financing in the United States, more residential real estate investors are exploring commercial property and business finance opportunities. It is important for prospective business owners and investors to educate themselves about options for the business loans and commercial mortgages they will be needing.
Environmental requirements for business finance will be a complex issue for numerous business investments. Environmental issues involved in a business loan will primarily depend upon the commercial lender as well as the type of business. More extensive requirements can impact both the cost and timing for a commercial mortgage loan.
Tax returns and financial statements for a business loan are likely to be a concern for all commercial borrowers. Whereas residential mortgage financing is likely to involve only personal tax returns, most business financing will include a review of business tax returns as well. Business financial statements and personal financial statements will be required for certain kinds of business opportunity financing and commercial real estate financing.
Secondary financing will often be a means of acquiring desired commercial loans. The use of seller financing or secondary financing is a prudent business financing strategy to reduce capital requirements for the borrower. Secondary financing will not be accepted by all commercial lenders.
An unexpected requirement for many commercial loans involves sourcing and seasoning of funds. When purchasing a business, some lenders will require that borrowers document where the down payment is coming from (sourcing) and how long the funds have been in that location (seasoning). If a borrower cannot adequately provide this documentation, the choice of commercial lenders will be more restricted.
Collateral and cross-collateralization for business loans will be an insurmountable obstacle for some commercial borrowers. Collateral requirements for business financing will depend on many factors such as down payment, type of business, credit scores and the type of financing needed. Cross-collateralization refers to lender requirements involving personal collateral such as a home used as collateral for a business loan.
Any requirement for a business plan when obtaining commercial mortgages is likely to be expensive and time-consuming. A business plan is not always required for a business loan, but when one is required this will add significantly to the cost and length of the loan process.
An increasing problem for commercial borrowers seeking refinancing is an unreasonable limitation for getting cash out of the new loan. Commercial lenders differ significantly regarding restrictions imposed on the amount of cash out to the borrower when refinancing. Some lenders will not permit any cash out whatsoever while others will limit cash received by the borrower to a particular amount. The preferred approach is to use a lender that will allow cash to be paid out up to an agreed loan-to-value (frequently 75%).
It is important to to thoroughly analyze business financing lockout penalties. A lockout penalty is much more severe than a prepayment penalty in that such penalties can effectively prevent a commercial borrower from selling or refinancing during a prescribed period (often two to five years).
In addition to the issues noted above, numerous other key business finance and real estate mortgage issues will also be important to evaluate. Commercial mortgage requirements are very different from residential financing requirements in the United States. We have prepared several other business finance overviews addressing additional factors that will be significant for most commercial borrowers. Separate report topics include SBA loan refinancing, business opportunity financing, stated income business loans and commercial appraisals.
Environmental requirements for business finance will be a complex issue for numerous business investments. Environmental issues involved in a business loan will primarily depend upon the commercial lender as well as the type of business. More extensive requirements can impact both the cost and timing for a commercial mortgage loan.
Tax returns and financial statements for a business loan are likely to be a concern for all commercial borrowers. Whereas residential mortgage financing is likely to involve only personal tax returns, most business financing will include a review of business tax returns as well. Business financial statements and personal financial statements will be required for certain kinds of business opportunity financing and commercial real estate financing.
Secondary financing will often be a means of acquiring desired commercial loans. The use of seller financing or secondary financing is a prudent business financing strategy to reduce capital requirements for the borrower. Secondary financing will not be accepted by all commercial lenders.
An unexpected requirement for many commercial loans involves sourcing and seasoning of funds. When purchasing a business, some lenders will require that borrowers document where the down payment is coming from (sourcing) and how long the funds have been in that location (seasoning). If a borrower cannot adequately provide this documentation, the choice of commercial lenders will be more restricted.
Collateral and cross-collateralization for business loans will be an insurmountable obstacle for some commercial borrowers. Collateral requirements for business financing will depend on many factors such as down payment, type of business, credit scores and the type of financing needed. Cross-collateralization refers to lender requirements involving personal collateral such as a home used as collateral for a business loan.
Any requirement for a business plan when obtaining commercial mortgages is likely to be expensive and time-consuming. A business plan is not always required for a business loan, but when one is required this will add significantly to the cost and length of the loan process.
An increasing problem for commercial borrowers seeking refinancing is an unreasonable limitation for getting cash out of the new loan. Commercial lenders differ significantly regarding restrictions imposed on the amount of cash out to the borrower when refinancing. Some lenders will not permit any cash out whatsoever while others will limit cash received by the borrower to a particular amount. The preferred approach is to use a lender that will allow cash to be paid out up to an agreed loan-to-value (frequently 75%).
It is important to to thoroughly analyze business financing lockout penalties. A lockout penalty is much more severe than a prepayment penalty in that such penalties can effectively prevent a commercial borrower from selling or refinancing during a prescribed period (often two to five years).
In addition to the issues noted above, numerous other key business finance and real estate mortgage issues will also be important to evaluate. Commercial mortgage requirements are very different from residential financing requirements in the United States. We have prepared several other business finance overviews addressing additional factors that will be significant for most commercial borrowers. Separate report topics include SBA loan refinancing, business opportunity financing, stated income business loans and commercial appraisals.
Bad Credit Finance Options
You shouldn't worry too much about bad credit finance options, because there are several financing options available regardless of your credit history… some of them charge higher interest rates or require some additional security, but in the end may be just what you're looking for.
Vehicle financing
If you're looking for a bad credit finance for a new or used vehicle, your best option is most likely going to be to visit a finance company as opposed to a traditional bank.
Some finance companies are more likely to offer bad credit finance options for vehicles than others, and the financing will usually depend upon the type of vehicle being financed, where the vehicle is being purchased from, and what sort of insurance and driving record you have.
Other factors that will be taken into consideration include your annual and monthly income, any cosigners that you might have for the loan, and any recommendations or referrals that you might have.
Home financing
Finding someone to offer you a bad credit finance for a house or other real estate can sometimes be tricky, but generally real estate shouldn't be too difficult to finance.
Major factors in getting a mortgage lender to approve you for bad credit finance options include your income, any insurance that you will purchase for the house or real estate, the amount of a down payment that you're willing to offer, and any references of former landlords that you can offer.
Mortgage lenders for bad credit finance loans can be found online, at finance companies, and at some real estate and property management services.
Other financing
Should you be seeking bad credit finance options for other items (such as collectibles or electronics), you might find your search to be a little more difficult.
Vehicle financing
If you're looking for a bad credit finance for a new or used vehicle, your best option is most likely going to be to visit a finance company as opposed to a traditional bank.
Some finance companies are more likely to offer bad credit finance options for vehicles than others, and the financing will usually depend upon the type of vehicle being financed, where the vehicle is being purchased from, and what sort of insurance and driving record you have.
Other factors that will be taken into consideration include your annual and monthly income, any cosigners that you might have for the loan, and any recommendations or referrals that you might have.
Home financing
Finding someone to offer you a bad credit finance for a house or other real estate can sometimes be tricky, but generally real estate shouldn't be too difficult to finance.
Major factors in getting a mortgage lender to approve you for bad credit finance options include your income, any insurance that you will purchase for the house or real estate, the amount of a down payment that you're willing to offer, and any references of former landlords that you can offer.
Mortgage lenders for bad credit finance loans can be found online, at finance companies, and at some real estate and property management services.
Other financing
Should you be seeking bad credit finance options for other items (such as collectibles or electronics), you might find your search to be a little more difficult.
Financing Options for Import Companies
Whether you are starting an import business or have an established importing business, it can be a very profitable venture if you have the right financing to grow your business. Imports are defined as: a good that crosses into a country, across its border, for commercial purposes; a product, which might be a service that is provided to domestic residents by a foreign producer; or a combination of the two.
Starting or running an import business has never been more profitable because of computers, the internet, and the availability of low cost imports from countries such as China and Mexico. These imports may be resold for up to ten times their cost depending on the competition in your field of operations.
It is essential that you have good, honest suppliers plus creditworthy customers with purchase orders for your imports. If you have the right financing, your business can grow exponentially. But how do you finance growth if your own resources or bank lines of credit are not sufficient to take advantage of big opportunities? A combination of purchase order financing, accounts receivable financing with inventory financing may be the solution.
Definitions:
Purchase Order Financing
Purchase Order financing is the assignment of purchase orders to a third party, a commercial finance company, who then assumes the obligation of billing and collecting. Purchase order financing can be used to finance all current and subsequent orders to improve your company’s cash flow. The process works as follows: 1) Your company obtains a purchase order for products to be sold another company; 2) A letter of credit may be issued, based on a finance companies’ credit, to guarantee payment to suppliers or factories producing the goods; 3) The order is shipped, delivered and accepted by your customer; 4) The customer receives an invoice for the goods; 5) The Purchase Order Company pays the supplier/factory; 6) a commercial finance company or Accounts Receivable Finance Company pays the Purchase Order Financing Company after the products are delivered to your customer; 7) The customer pays the commercial finance company for goods received; 8) The accounts are settled and the profit is paid to you.
Accounts Receivable Financing
Accounts Receivable Financing is the selling or pledging of your company's account receivable, at a discount, to a Factor, a Commercial Finance Company or to an Accounts Receivable Financing Company who may assume a risk of loss. You receive a portion, usually 80% to 90% of the face value of your receivables in advance of payment from your customers in return for a fee, or interest, to be paid to the commercial finance company. When the commercial finance company is paid by the customer, the appropriate fees are deducted and the remainder is rebated to you. “Accounts receivable financing” is also called accounts receivable factoring, factoring financial services, invoice factoring and cash flow factoring. The terms are used to convey the same meaning.
Inventory Financing
Inventory financing is a loan secured by the inventory of your business. Inventory finance enables import companies to hold more stock without cash flow strain and to generate more sales. Inventory finance is often part of a Purchase Order and Accounts Receivable Financing commercial finance package.
These three types of financing can enable an import business to increase purchasing capabilities dramatically; you can accept larger orders and grow your business exponentially. You can use your inventory to leverage your purchasing power. You can use your customer’s credit to obtain these three types of financing; and you can use the commercial finance company’s credit to obtain a letter of credit.
The concept of financing your import company with “other people’s money” is part of a safe and sound business plan. Add strong product quality controls, inventory controls, and good accounting to maximize the success of your import company.
Starting or running an import business has never been more profitable because of computers, the internet, and the availability of low cost imports from countries such as China and Mexico. These imports may be resold for up to ten times their cost depending on the competition in your field of operations.
It is essential that you have good, honest suppliers plus creditworthy customers with purchase orders for your imports. If you have the right financing, your business can grow exponentially. But how do you finance growth if your own resources or bank lines of credit are not sufficient to take advantage of big opportunities? A combination of purchase order financing, accounts receivable financing with inventory financing may be the solution.
Definitions:
Purchase Order Financing
Purchase Order financing is the assignment of purchase orders to a third party, a commercial finance company, who then assumes the obligation of billing and collecting. Purchase order financing can be used to finance all current and subsequent orders to improve your company’s cash flow. The process works as follows: 1) Your company obtains a purchase order for products to be sold another company; 2) A letter of credit may be issued, based on a finance companies’ credit, to guarantee payment to suppliers or factories producing the goods; 3) The order is shipped, delivered and accepted by your customer; 4) The customer receives an invoice for the goods; 5) The Purchase Order Company pays the supplier/factory; 6) a commercial finance company or Accounts Receivable Finance Company pays the Purchase Order Financing Company after the products are delivered to your customer; 7) The customer pays the commercial finance company for goods received; 8) The accounts are settled and the profit is paid to you.
Accounts Receivable Financing
Accounts Receivable Financing is the selling or pledging of your company's account receivable, at a discount, to a Factor, a Commercial Finance Company or to an Accounts Receivable Financing Company who may assume a risk of loss. You receive a portion, usually 80% to 90% of the face value of your receivables in advance of payment from your customers in return for a fee, or interest, to be paid to the commercial finance company. When the commercial finance company is paid by the customer, the appropriate fees are deducted and the remainder is rebated to you. “Accounts receivable financing” is also called accounts receivable factoring, factoring financial services, invoice factoring and cash flow factoring. The terms are used to convey the same meaning.
Inventory Financing
Inventory financing is a loan secured by the inventory of your business. Inventory finance enables import companies to hold more stock without cash flow strain and to generate more sales. Inventory finance is often part of a Purchase Order and Accounts Receivable Financing commercial finance package.
These three types of financing can enable an import business to increase purchasing capabilities dramatically; you can accept larger orders and grow your business exponentially. You can use your inventory to leverage your purchasing power. You can use your customer’s credit to obtain these three types of financing; and you can use the commercial finance company’s credit to obtain a letter of credit.
The concept of financing your import company with “other people’s money” is part of a safe and sound business plan. Add strong product quality controls, inventory controls, and good accounting to maximize the success of your import company.
Monday, October 13, 2008
Secured Debt Consolidation Loans
Are you getting frustrated with the calls from the various lenders regarding your existing debts? Since the income you earn is limited, it is not sufficient enough to pay off all your debts. With so many troubles in your shoulders, the only logical solution lies in wiping the debts completely with the help of secured debt consolidation loans. These loans offer ample finances which will assist you to get rid of all the multiple debts without any further problems.
When you are paying multiple payments with varying interest rates, it becomes very difficult. But in the case of these loans, all your existing debts are consolidated in to a single manageable amount. After consolidation, you can seek a fresh loan from one of your multiple creditors at low rates of interest. By paying off all the debts, you get rid of paying multiple installments towards the various creditors. In the case of these loans, you just have to make a single monthly payment, that too at a low interest rate. This allows you to save a lot of money which can be used for other purposes as well.
To avail these loans, you have to part away any valuable asset of yours such home, real estate, etc as collateral. The amount approved is determined by calculating the equity value present in the collateral. This means if you are looking for a bigger amount, it is recommended to offer any valuable asset as collateral. As the amount is secured against an asset, you can access these loans at very low rates.
Under these loans, you can borrow amount in the range £ 5000-£ 75,000 with a repayment duration that stretches for a period of 5-25 years. In fact bad credit borrowers with problems like CCJs, IVA, arrears defaults etc can apply for these loans. However, the rate of interest will be slightly higher.
Secured debt consolidation loans are offered by most of the individuals, but it is the online lenders who offer these loans at flexible terms and conditions. Only those loan package should be availed which suits your prevailing circumstances. To get the maximum advantages of these loans, you must put a special emphasis on the low rates of interest.
When you are paying multiple payments with varying interest rates, it becomes very difficult. But in the case of these loans, all your existing debts are consolidated in to a single manageable amount. After consolidation, you can seek a fresh loan from one of your multiple creditors at low rates of interest. By paying off all the debts, you get rid of paying multiple installments towards the various creditors. In the case of these loans, you just have to make a single monthly payment, that too at a low interest rate. This allows you to save a lot of money which can be used for other purposes as well.
To avail these loans, you have to part away any valuable asset of yours such home, real estate, etc as collateral. The amount approved is determined by calculating the equity value present in the collateral. This means if you are looking for a bigger amount, it is recommended to offer any valuable asset as collateral. As the amount is secured against an asset, you can access these loans at very low rates.
Under these loans, you can borrow amount in the range £ 5000-£ 75,000 with a repayment duration that stretches for a period of 5-25 years. In fact bad credit borrowers with problems like CCJs, IVA, arrears defaults etc can apply for these loans. However, the rate of interest will be slightly higher.
Secured debt consolidation loans are offered by most of the individuals, but it is the online lenders who offer these loans at flexible terms and conditions. Only those loan package should be availed which suits your prevailing circumstances. To get the maximum advantages of these loans, you must put a special emphasis on the low rates of interest.
Credit Loans UK
People with bad credit understand that the doors to the world of credit are closed to them. Not at all, you are at fault. Mind you that money market always has some or other sort of financial solution for everyone. No matter whether you have a good credit or bad, still you have chances of securing money provisions. Looming gravity of adversity has forced the lending authority to offer adverse credit loans UK for the Britons struggling with credit problems. These money provisions come in different shapes and sizes. This much only people need that they may apply these loans as per their feasibility.
These money provisions come in secured and unsecured forms for the convenience of the borrowers. If you are a homeowner, then your way to secure these money provisions is quite an easy task for you. Since what most of the lenders demand is the security for the loan that you are able to provide and that is why you get such money provision easily. Conversely for those having no worth as for security to the loan though they can be offered unsecured loan but no doubt they will find it hard to obtain. Unsecured form of borrowing is preformed without any sort of pledging placing so lender feel hesitate dealing in such money provisions with the people with poor credit scores.
The interest rate always remains to be the moot point for such loan provisions. Naturally, being risk inhibited, such loans get a bit costlier, and people have to manage it so as to secure the provision they desperately needed. Some issues affect all bad credit borrowers but vary in severity. Interest rates will be higher. While some may be surprised by this notion is understandable. A rate of interest is computed by taking into consideration the general rate of interest nationwide at the time the loan is made and the specific risk of the particular loan is in question.
But you need not worry about the rate factor. There are many lenders available in the money market for adverse credit loans UK. You need do one thing to compare the other such lending options available around. Once you experience the world of bad credit financing, you will get to know what you should do then. According to the degree of your problem, you can negotiate rate with your creditor. If you are well enough to do that, in all probability your chances are much brighter to secure these money provisions on comparative rates.
These money provisions come in secured and unsecured forms for the convenience of the borrowers. If you are a homeowner, then your way to secure these money provisions is quite an easy task for you. Since what most of the lenders demand is the security for the loan that you are able to provide and that is why you get such money provision easily. Conversely for those having no worth as for security to the loan though they can be offered unsecured loan but no doubt they will find it hard to obtain. Unsecured form of borrowing is preformed without any sort of pledging placing so lender feel hesitate dealing in such money provisions with the people with poor credit scores.
The interest rate always remains to be the moot point for such loan provisions. Naturally, being risk inhibited, such loans get a bit costlier, and people have to manage it so as to secure the provision they desperately needed. Some issues affect all bad credit borrowers but vary in severity. Interest rates will be higher. While some may be surprised by this notion is understandable. A rate of interest is computed by taking into consideration the general rate of interest nationwide at the time the loan is made and the specific risk of the particular loan is in question.
But you need not worry about the rate factor. There are many lenders available in the money market for adverse credit loans UK. You need do one thing to compare the other such lending options available around. Once you experience the world of bad credit financing, you will get to know what you should do then. According to the degree of your problem, you can negotiate rate with your creditor. If you are well enough to do that, in all probability your chances are much brighter to secure these money provisions on comparative rates.
Thursday, October 9, 2008
Cheap Loans UK: When Finance Flows Easily
Taking loans no longer remains a taboo. People irrespective of their financial situation go on to take loans to meet their growing expenses. But the real concern for everyone is that the loan should be cheap. Cheap loans UK offers the opportunity to avail loans that are really cheap.
Cheap loans UK are available in secured and unsecured forms. Homeowners and other asset holders can get secured cheap loans against their asset. Secured cheap loans are the real cheap loans that are available under the cheap loan scheme. The collateral that is placed against the loan encourages the lender to advance loans at cheap and attractive rates since they have surety of repayment of their money. Loan amount ranges from £5000 to £750000.
There are also unsecured cheap loans UK for tenants and non home owners where no collateral is required. These loans are less risky for the borrower as they don’t have to pledge their property to the lender. Lower interest rate in these loans can be found by thorough research of the loan market. Unsecured loans offer loan amount in the range of £1000-£25000.
Cheap loans UK have interest rates formulated by the financial status of the borrower. The interest rates generally depend on the credit ability and repayment term of the loan. The repayment term of secured loans ranges from 5 to 25 years while that of unsecured loans range between 6 months and 10 years.
By going online, borrowers can get cheap loans UK in further lower rates. This is because online mode gives greater option to borrowers to choose from.
Cheap loans UK can serve a whole lot of purposes. They can be used for debt consolidation, starting a new business or updating an existing one. These loans can also be used to buy car, repair home and holiday making. Even bad credit borrowers can get cheap loans.
Thus through cheap loans UK, citizens in UK can fulfill their various needs easily. They also do not have to pay huge amounts as interest.
Cheap loans UK are available in secured and unsecured forms. Homeowners and other asset holders can get secured cheap loans against their asset. Secured cheap loans are the real cheap loans that are available under the cheap loan scheme. The collateral that is placed against the loan encourages the lender to advance loans at cheap and attractive rates since they have surety of repayment of their money. Loan amount ranges from £5000 to £750000.
There are also unsecured cheap loans UK for tenants and non home owners where no collateral is required. These loans are less risky for the borrower as they don’t have to pledge their property to the lender. Lower interest rate in these loans can be found by thorough research of the loan market. Unsecured loans offer loan amount in the range of £1000-£25000.
Cheap loans UK have interest rates formulated by the financial status of the borrower. The interest rates generally depend on the credit ability and repayment term of the loan. The repayment term of secured loans ranges from 5 to 25 years while that of unsecured loans range between 6 months and 10 years.
By going online, borrowers can get cheap loans UK in further lower rates. This is because online mode gives greater option to borrowers to choose from.
Cheap loans UK can serve a whole lot of purposes. They can be used for debt consolidation, starting a new business or updating an existing one. These loans can also be used to buy car, repair home and holiday making. Even bad credit borrowers can get cheap loans.
Thus through cheap loans UK, citizens in UK can fulfill their various needs easily. They also do not have to pay huge amounts as interest.
5 ways to prepare your finances
With the New Year having past us by, many of us are starting to think now about our New Year's financial resolutions, one of the major issues that most of us always promise to address it finances. Most of us find that we could make a number of improvements to our finances, whether it is in terms of managing our finances and budgeting more effectively or whether it is in terms of cutting back and streamlining our outgoings.
With 2008 well under way and our Christmas spending hitting home, now is the time to start thinking about improving our finances, so that we can look at starting the New Year on a more positive financial note. Below are some of the top ways in which you can improve your finances for 2008.
1. Streamline your outgoings: It is amazing just how much money we all waste each year, often without even realizing. If you go through your regular outgoings with a fine tooth comb you could well come across things such as unused subscriptions and useless memberships for services that you no longer really use, and you can cancel these and put the money to better use.
2. Cut back on non-necessities: Of course, we all love to splash out from time to time, but many of us tend to live a champagne lifestyle on beer money. Go through your monthly outgoings and try and make cutbacks wherever possible on non-necessities such as going out and spending on clothes. By spending a few extra nights in – perhaps cooking dinner at home for friends instead of going out for meals – and avoiding the temptation of too much retail therapy you could save a small fortune.
3. Take advantage of the sales: Although this may seem as though it is contradicting the above, you can be really thrifty by taking advantage of the sales. Watch out for them, as many shops have sales at different times of the year, and not just january. This doesn't mean you should go out and spend on anything that looks like the price has been knocked down even if you don’t really want or need it. However, try and determine whether you will need things such as clothes for work or for the kids in the coming months, and get them during the sales when you can often get twice as much for your money.
4. Improve your financial management: If you are the type of person that hates to look at their bank balance and does nothing to monitor income and outgoings then now is the time to make a change. Keep a track on everything that goes in and out of your account, and check your balance regularly. This will help you to avoid everything from becoming the victim of fraud or theft to accruing costly bank charges for exceeding overdraft limits.
5. Review your debts: Most of us have a number of debts in one form or another, whether it is credit cards, stores cards, or loans. Take a look at how much you owe and see whether you could save yourself hassle and money each month by consolidating your debts – or in the case of just credit card debts by transferring them onto a 0% balance transfer card.
Monday, October 6, 2008
Is Your Estate Planning Up-To-Date?
Take this simple test to see if it is:
1. Have you ever done a will or trust?
Without proactive planning, you are relying on the New Jersey legislature to determine how your assets pass, to whom they pass, and when they pass. In addition to having potentially undesired results, this is perhaps the most costly and time-consuming means of passing your assets to your loved ones.
2. Is your will or trust more than 3 years old?
Even assuming that there have been no family or financial changes since your plan was last reviewed, there have been major tax law changes in 1997 and in 2001. An out-of-date estate plan is perhaps worse than no estate plan at all. Our experience is that people view estate planning as an event rather than a process. Keeping your plan current is vital to achieving the goals you set out to accomplish.
3. Are all of your heirs over the age of 18 and financially responsible?
Under New Jersey law, children inherit property no later than age 18 without restriction. Proper planning is crucial to prevent an heir from squandering his or her inheritance, or worse, from causing harm to himself or herself.
4. Does your current plan provide your heirs with asset protection, divorce protection, and lawsuit protection?
The most common means of providing for heirs is with outright distributions. By doing so, however, the inheritance becomes subject to the creditors of your heirs.
5. Is this your first marriage?
Second or subsequent marriages present unique planning issues, particularly if both spouses have children from a prior marriage. Proper planning is critical to prevent undesired results.
If you've answered "No" or "Don't Know" to any one of these questions (or "Yes" to No. 5), you need to contact an estate planning lawyer to schedule a time to meet and discuss your responses, the consequences of not taking action, and potential solutions to these and other issues.
How to Obtain Cash For Inheritance Held in Probate
Advance inheritance is a term used by cash lenders and private investors who provide funds to beneficiaries of an estate held in probate. When a person dies, all of their possessions are transferred to probate. Depending on the complexity and circumstances of the estate, the probate process can last between six months and three years.
Obtaining advance inheritance is similar to applying for a loan. However, no interest in charged on the advance and there is no note to repay. Instead, the cash advance is repaid through the estate when probate settles.
Funding sources typically provide inheritance cash advances to heirs entitled to $15,000 or more. However, some cash advance providers will work with beneficiaries whose inheritance is as small as $2500. Beneficiaries of small estates generally have better success in obtaining a cash advance through private investors who specialize in probate estates.
When seeking advance inheritance funding, beneficiaries are required to provide personal information and details of the estate. Funding companies usually require a copy of the decedent's Last Will and Testament, Petition for Probate, Inventory and Appraisement statement, Death Certificate, and Listing Agreement or Sales Contract for real estate holdings.
A credit report will be obtained for heirs requesting a cash advance for inheritance. If the applicant has outstanding judgments, creditor liens, child support or bankruptcy proceedings, advance inheritance will typically be denied.
After all documents have been verified by the funding source, advance inheritance distributions generally occur within 3 to 5 business days. This timeframe can vary depending on the advance amount and policies of the funding source.
Funding sources assume significant risk when providing advance inheritance. First, there is the potential of insufficient funds remaining in the estate to repay the advance. When this occurs, the funding source must absorb the loss because the beneficiary is not responsible for repayment of the advance. Second, funding sources must wait until the estate settles to receive their distribution.
Inheritance cash advances typically range from $10,000 to $100,000. As a general rule, advance inheritance cannot exceed 30-percent of the heir's anticipated distribution. When beneficiaries receive a cash advance they must assign their inheritance rights to the lending source in exchange for the upfront cash payment. Additionally, a fee is charged and deducted from the advance.
Careful consideration should be given to obtaining advance inheritance funding. While it might be tempting to obtain cash upfront instead of waiting for probate to settle, it is important to understand the pros and cons of this type of transaction.
Last, but not least, it is crucial to engage in due diligence when selecting a funding source. Be certain to check with the Better Business Bureau to ensure the company or private investor you are working with is in good standing. Additionally, conduct research online to check for complaints or legal issues.
Wednesday, October 1, 2008
Financial Management - Motivation is the Key Factor
There are things that only we can do for our self. One of these things include financial management. It does not matter your: profession, educational background, how much you have etc., the truth is that finances are the life blood of every Human being. It is not my intention to bother you with some accounting technical terms here. My utmost faith is to see you take action that will better your finance for good. Listed below are some of the skills you need to become your own financial manger:
Discipline: For you to become your own financial manger, you cannot do away with being disciplined. Being disciplined helps you in the area of consistency. Every accountant out there knows that consistency is a (principle/convention/theory) that is highly valued. What this will do for you is to make you be in a position to make comparison between different time frames.For instance, how do you know you over/under spent on certain item(s) in the previous month if there is no yardstick for doing such?
Budgeting: This is not a difficult thing to do; is as simple as saying; Hey Guys, I want to spend Fifty Thousand Naira this month. But wait a minute, do you think is enough to just say it? The obvious answer is NO. So, put it down in writing. Is that a difficult thing to do?
Record keeping/Analytical mind: Hey! Don't go shivering by my mentioning these 'mathematical" sounding words. I don't mean you should be sophisticated in this regard, a simple diary can do the job perfectly well. What you need to do here is: get a portable diary and pen and make use of them to take note of all your expenses (both minor and major). This is very important if you really want be your own financial manager. REMEMBER TO BE DISCIPLINED. At the end of every period (monthly, weekly, daily), compare your budget i.e what you said you want to spend and what you actually spent. Again,write down the difference
Rewarding/cautioning attitude: This is the time to take ACTION. I must warn that you be objective at this point. Don't be lenient because you are dealing with yourself. Be objective. OK, if at this point you get a favourable variance (difference between actual and budgeted), pat yourself at the back and and say "Truly i am a financial manager". If on the other hand you get an adverse variance, CAUTION yourself. learn to be disciplined. I want to assure you that if the above simple, yet powerful steps are taken, not only will you become a financial manager, your financial position will take a different shape and you will be better off in the long run.
The Rise of Digital Asset Management
When I first heard the term digital asset management I assumed it was just another financial term for some type of media stocks or bonds. In actual fact, Digital Asset Management or DAM is pitched to be one of the top media software products of the future.
Digital Asset Management's suggested growth over the next 5 years is estimated at over 300% which is triple the current value. The business research & consulting firm Frost & Sullivan are forecasting that "the market is set to grow at a very healthy double digit growth rate through the forecast period, 2007 to 2013". According to Frost & Sullivan; "Around 70 major vendors are now seeing the need to digitize their media assets".
DAM solutions are becoming as streamlined into a website development as content management systems and search marketing. The reason for its success is that most big corporate websites hold a lot of rich digital media including images, audio and video content and this can make storage and retrieval of these assets difficult. For all of this content to be hosted, easily retrievable, distributed and exported it needs to be stored in a central location, properly filed, archived, optimised and available in a range of different downloadable formats.
Another reason for the success of DAM is that a lot of files, specifically video files can be so huge that even FTP access across public services is undesirable, DAM makes this possible by employing a delivery service, with access to single assets from multiple locations, thus reducing the time and cost of producing the content and maximising the return on investment.
What types of DAM systems are there?
The types of DAM are dependant on their facilitation with the business; brand asset management for example is focused largely on marketing and deals with marketing collateral such as product imagery, fonts and logos. Production asset management is commonly used in the organisation and storage of frequently changing digital media assets, whereas digital supply chain services purely focuses on the pushing of digital content out to retailers i.e. Music and games store. Library management is probably the most widely used type with a focus on the storage and retrieval amounts of mostly archived video and photo media.
If we take a closer look at DAM, the tools that it utilises start to make the system more of a tangible product. The types of uses for the system in business is for Multimedia press kits and marketing materials, corporate presentations, VOD, rich media libraries of; video, fonts and images and other marketing collateral. The types of files this includes are; images, logos, audio, animation, CAD, video and HTML.
So what's in store for the future?
According to industry analyst Zippy Aima "There is the recent proliferation of digital media content, especially video, and the rise of portable devices for viewing it. We can add the widespread availability of broadband data services to distribute it, and the need for systems that can store and deliver that content to the right people at the right time."
With media creation so accessible via broadband and likely to grow vastly over the next decade, images from our everyday devices such as cameras, phones and scanners will continue to flood onto the web, billions of assets (files) all hitting social networks, websites and blogs at a furious pace, and all with a thousand different destinations and target audiences. DAM will soon be the only technology capable of dealing with the demand and with the worth of digital media content management set to rise; from $203 million to an anticipated $558.6 million by 2014 this looks set to continue.
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