Is America, the World & the Media giving the mass murderer from Virginia Tech too much credit?

What I mean by the main question is that, aren’t we giving that coward just what he wanted by watching news stories about his supposed life, showing film of his message of hate and why he murdered 32 innocent people and injured dozens? … Rather than the media having stories on remembering each victim and how we can possibly try to prevent this from happening yet again?

Do you partially blame the college for the lack of attention to warning signs?

And finally do you consider the media as a contributing factor to violence when they show stories on how easy it is to gain access to guns and practically show step by step instruction ?

Share your thoughts

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I would like to know is it possible to start a small business by using small business credit?

I would like to know if it is possible to start up a business using business credit if:

1. You are starting a small business, or you are already a business owner.

2. You have to have perfect credit.

3. Do you have to already have to be in business for 1 or 2 years before you can aquire business credit?

How do I get a Business credit card with bad credit?

I am trying to consolidate my bills and get my credit clear so I can start a business.I have very,very bad credit and I am tryiing to start a business. How would I get a credit card for my business with extremly bad credit. And who will except me?

What determintes business line of credit limit?

I am purchasing a small business that has been in existence for 1 and a half years. I am using an SBA loan for the purchase.

Referring to the future, how do they determine what my business line of credit will be? My companies net profits are 160k. (After debt payment it is around 110k). Formulas are welcome!

How do I get business credit without using my social security number?

I just recently started my own small business after watching my boss make tons of money off of my idea. I’ve been trying to obtain business credit but I am having a problem, because I am a new business. I do not want to use myself as a personal guarantor due to some credit issues I have gained while in college, and co-signing for my ex. So if you have any tips please feel free to post them. Thanks for your time.

What is the best business credit card to apply for?

My husband runs his own subcontracting business and he is needing to apply for a business credit card. I researched some and so far Discover’s business card seems good. Any other ideas?

How is a credit score for a small business established?

I started a small business 6 months ago that has been very successful. I have a business bank account, but have not done anything else to establish credit for the business.

I would like to lease a vehicle in the name of my small business and am curious if my business credit score would be too low?

Does anyone know a general guideline on how quickly a line of credit is established for a small business?

Credit Card Services Qualify You for Small Business Loans

If your business still does not have a merchant account that allows you to offer full credit card services, you are turning your back on profits. Just take a look at all of your competitors. All of those that pose serious competition accept credit card payments. Those that do not have credit card services do not have great sales figures to show, either. Even statistics point to the fact that companies that have credit card services earn much more than companies that do not have credit card services. The average credit card sale is $40 while the average cash sale is only $9. That means you are losing potentially $31 per sale.

You may also be spending more by accepting only cash and check payments in your business. The processing of cash and checks has been found to be more costly, requiring more manpower in handling. Studies have shown that the average processing cost of credit card payments is only 2.7% of a transaction while the average processing cost of checks is 4% of a transaction and the average processing cost of cash is 4.8% of a transaction. Once again, you are leaking profits by refusing to accept credit card payments.

So how do you accept credit card payments in your business? This is where credit card services come in. The old route is to apply for a merchant account in a bank. You will then have to lease the software and equipment necessary to actually process payments and send the data to your account. If you want to accept credit card payments online, you need to apply to a payment gateway that allows real time credit card authorization for online transactions. You should ensure that your payment gateway is compatible with the bank or financial institution where you have your merchant account, and with the software and equipment you have leased.

In choosing the bank or financial institution for your merchant account, consider their expertise in combating fraud and reducing chargebacks. Also make sure that they are experienced in handling merchant accounts with online transactions.

If you are a small business owner, stick to a bank or financial institution that caters to small businesses rather than large companies. You may be able to get better rates and packages designed for your specific niche.

There are options for credit card services that offer everything you need in one easy package. You will not have to deal with various entities or go through various procedures. Often, these options also have added benefits, among them, quick reporting on your credit card sales figures. They may also offer interest on your credit card sales income, even up to money market rates.

One very important feature of your credit card services that you may not know of is that it can automatically qualify you to avail of small business loans. Once you have established a record of sales through credit, most credit card services will allow you to make cash advances that are practically like getting previously approved small business loans without having to put up any required collateral. The credit card services consider your future income through credit card sales as your collateral. This can go a long way in further growing your business.

Payment will not be a problem, either. For as long as you have sales through credit payments, you automatically get to pay your small business loans. It does not matter how much your sales are. Your payments are automatically deducted as a percentage of your sales. You are always covered.

Now do you still need further convincing on the benefits of credit card services for your business?

Comparing Offers from Banks for Business Lines of Credit

If you have a well developed business plan, strong credit, and reasonable collateral then it should not be unrealistic for you to obtain a business line of credit or revolving credit facility. Once you have been accepted by a number of banks or finance companies for a business LOC then it is time to determine which company has offered you the best terms. Foremost, you should look at the interest rate offered by the financial institution. It is a fixed rate credit line or will the interest rate increase/decrease with changes in the general economy.

 

Other considerations to factor into your decision regard the covenants regarding the credit line. Is the business LOC unsecured or is it secured by a piece of property that you have put up as collateral? Will you be required to personally guarantee the credit line? Additionally, many banks/financing companies require that your business (or your income) maintain a certain minimum level during the time that you are granted access to the revolving credit facility.

 

One of the other considerations that you must take into account is the nature of the credit line itself. If you draw down the line, what will be the repayment term? Will the business line of credit convert to a normal loan after the terms of the credit facility has expired?

 

One of the final considerations that you should take into account is if the business credit line of credit secured by your personal guarantee – how will the use of the credit facility impact your personal credit score? This is especially important if you have ongoing personal credit needs (such as property loans, credit cards, or car loans).

 

Once accepted for a business LOC, these are all questions that you must carefully consider when entertaining offers from a bank or finance company. If you have having difficulty making the proper determination based on the offers that you have received then it may be in the best interest for you to bring the proposals to your accountant who can assist you in making the best determination for both you and your business.

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