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Posts Tagged ‘Versus’

The primary difference between a Business LOC and a business loan is that with a credit line you can draw down the principal as needed rather than taking on a debt obligation as one lump sum. You only pay interest on the portion of the credit line that you have drawn down. Additionally, with a Business LOC you are able to repay the principal of the credit facility and reuse it again at a later time. A business line of credit works very similar to that of a credit card with the exception that it is to be used for business purposes rather than personal purchases.

Additionally, Business LOC facilities typically do not have a plastic card associated with their usage. In most situations, the borrower (you) are given a series of checks as if the credit line were a checking out with a finite balance. Each time that you need to drawn down the Business LOC you can write a check to a supplier, vendor, or to yourself (to be deposited into your operating account). This allows you tremendous flexibility when using a Business LOC.

In the case of a business loan, you are granted the full amount of the applied for credit once approved. In this case, you are required to pay interest on the full borrowed amount even if you are still waiting to use some of the debt proceeds. This is the benefit to a business line of credit versus a business loan. However, much like business loans, Business LOC can be applied for in a similar manner. The SBA has a number of programs that allow small business borrowers to acquire business lines of credit as if they were business loans.  Read more...

How many friends have approached you with excitement bubbling out of every pore in their body.

“…… you’ve GOT to take a look at this online business!!!!” All you’ve got to do is get TWO people who want to earn $1000 a week! You know two people don’t you!?!? Then they get two people into their online business, and THEY get two people and it just explodes and pretty soon you don’t have to do ANYTHING and you can quit your job and do nothing!!”

Your gut instinct tells you this online business sounds unbelieveably good (you don’t know how right you are) but you sign up anyway. With that comes a monthly autoship of $100-$300, but who cares? Pretty soon you’ll be making three times that in a week!

6 months later, you’re disillusioned, your online business is severely in the red from your once-in-a-lifetime-opportunity and you’ve only signed up 6 people into your business and 5 have left as quick as they came.

Been there, done that … I’m slightly ashamed to say, except I didn’t even sign up anywhere near 6 people in my online business!!

What is opportunity? How do you recognise it? What separates reality from fake? When does that gut instinct tell you it’s real?

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