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Lenders To Avoid – Business Loan And Commercial Mortgage

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I have published many articles which are designed to assist commercial borrowers in avoiding commercial loan problems. One of the most serious commercial mortgage business loan situations is a commercial lender that causes problems for their commercial borrowers on a recurring basis. It is particularly this type of commercial lender which prudent commercial borrowers should be prepared to avoid unless viable alternative business financing options do not realistically exist.

As a direct result of my commercial loan experiences advising business owners for over 25 years and regular conversations with other business financing professionals, I do in fact believe that there are a number of commercial lenders that should be avoided. This conclusion is based on a recurring pattern of lending abuses by some business lenders.

This article will not name specific lenders to avoid, but specific examples will be provided to show why informed commercial borrowers should be ready to avoid a variety of business lenders in their search for viable commercial loan solutions. This business financing strategy article will illustrate the significant benefits of avoiding “problem lenders”.

Meaningless Pre-approvals for a Commercial Mortgage Business Loan

An early commercial mortgage pre-approval is often sought by commercial borrowers. The expected advantage to this initial commercial loan approval is that the business borrower can make other business arrangements which are based on the business financing being completed.

An ethical commercial lender will treat any form of business financing approval very seriously. Commercial borrowers should expect that a meaningful version of such an approval will not be realistically possible in just two or three days.

However, there are lenders who prepare a misleading and questionable version of a pre-approval shortly after receiving minimal application data. Because this approach often produces surprises for the borrower as the commercial mortgage process moves forward, borrowers should be wary of any lenders that do this.

Why do some commercial lenders provide such meaningless pre-approvals for a commercial mortgage? There are two likely reasons. (1) To motivate the commercial borrower to stop considering other potential commercial lenders. (2) To provide a business loan pre-approval that is similar to a structure prevalent with residential loans.

Because many commercial loan situations are facilitated by residential mortgage brokers who are typically unfamiliar with normal business financing requirements, this reason will be especially relevant with business lenders that primarily work with residential mortgage brokerage firms. Such a lender should be avoided for most commercial mortgage circumstances.

Commercial Mortgage Loan – Yes or No?

I have published an article which discusses the tendency of many banks to say “yes” when they mean “no”. Such banks will typically attach onerous business financing conditions to commercial loans instead of simply declining the loan. Business owners should explore other commercial mortgage alternatives before accepting commercial financing terms that put them at a competitive disadvantage.

Think Outside the Bank for a Commercial Mortgage

In some non-competitive business markets, it is unfortunately common for a lender to employ business loan terms that would typically not be seen in a more competitive commercial loan environment. Such business lenders can repeatedly take advantage of a non-competitive commercial lending imbalance.

An appropriate response by commercial borrowers is to seek out non-bank commercial loan options. It is neither necessary nor wise for commercial borrowers to depend only upon local traditional banks for commercial mortgage solutions. For most business loan situations, a non-local and non-bank commercial lender is likely to provide improved business financing terms because they are accustomed to competing aggressively with other commercial lenders.

Commercial Property Commercial Loan Appraisals

For commercial mortgage loans, commercial appraisals are an unavoidable part of the commercial loan underwriting process. The commercial appraisal process is lengthy and expensive, so avoiding commercial lenders which have displayed a pattern of problems and abuses in this area will benefit the commercial borrower by saving them both time and money.

Copyright 1995-2007 AEX Commercial Financing Group and Stephen Bush. All Rights Reserved.

The Basic Features Of Asiabiz Services Singapore Employment Act

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In Singapore, the procedure for incorporating a company is generally simple and straightforward, and requires only a few legal steps and obligations compared to other countries around the world. In Singapore, companies are governed by the Singapore Companies Act of 1963. The necessary steps and structure for forming a company in Singapore are covered by this Act. All companies must abide by the regulations of this Act in order to legally incorporate a company within Singapore. Employees, on the other hand, are covered by the employment act, except for the following positions: Managerial, executive and confidential positions, (However, provisions for salary protection extend to managers and executives earning S$2,500 basic monthly salary and below. All other provisions are not applicable to them.), domestic workers, seamen, any person employed by a Statutory Board or the Government.

Through this guide, you will be informed of the statutory requirements under the Singapore Employment Act and the common practices applied to employment contracts, wages, and benefits when hiring employees in Singapore. However, this guide does not discuss about specialized industries involving manual labour and blue collar workforce.

An effective compensation and employee benefit plan rewards and recognizes the best company employees. Through successful employee benefits strategies, productivity is raised, employee retention is increased, and creates a positive impact on the bottom line. It is often difficult for small-to-mid-size companies (SMEs) in Singapore to match the benefits package of bigger companies. It is imperative that a small company offers a benefits package that meets employee needs and is competitive with what other SME companies offer.

The relationship between employer and employee in Singapore is regulated largely by the contract of employment between them. Subject only to the Employment Act and certain limits, parties can freely enter into contracts of employment. Not all employees are covered by the Singapore Employment Act. Only those employees specified under the Act are covered.

The Act defines Managerial & Confidential Positions as those a person who has direct authority or influence in the hiring, firing, promotion, transfer, reward or discipline of other employees; or the main duties involve management and running of the business; or the employee has access to classified information relating to terms of employment of other employees, or financial positions, business operations/trade secrets of employer.

Moreover, Part IV of the Employment Act provides additional protection (concerning Rest Day, Hours of Work and Overtime, Public Holidays, Annual Leave, Sick Leave, Retrenchment Benefits, Retirement Benefits, Annual Wage Supplement and other variable payment) for employees earning below SGD 2000/month.

A Study On Indian Jute Industry

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Jute, also called the ‘Golden Fiber’, is the most useful and versatile fiber gifted to human being by the nature. Jute is popular for its ability to use in various forms in handicraft industry. The industry contributes greatly in countrys economy and has potential to propel the economy at least for next few decades. Jute industry alone provides direct employment to approximately 0.26 million people, and about 4.0 million people are associated indirectly to the industry. In total, the labour intensive industry engages more than 4.35 million people into it. Realizing its major contribution and important role in the Indian economy, the Government has decided to pay special attention to the industry in its National Common Minimum Programme. Keeping the industrys increasing contribution in consideration, the Government then started the “Jute Technology Mission” to benefit jute growers, the workers, jute manufacturers, exporters and others engaged in the sector. The programme has helped in Industrys modernization and to reap profits from export and other enhanced level of jute diversification.

A great number of the Indian Jute manufacturers have set up their Mills in the states of West Bengal, Assam, Andhra Pradesh, Orissa, Uttar Pradesh, Tripura, Bihar and Chhattisgarh. At present, there are 78 jute mills planted in India out of which 61 are located alone in eastern region of West Bengal. Among all jute mills, 64 are owned privately by Indian manufacturers and exporters, 6 of them are owned by central government, the state government owns 4, and only 2 of the mills are under cooperatives. Jute industry alone accounts for an annual turnover of Rs 6,500 crore and the value of export of total jute products is nearly Rs1000 crore. Some organizations have been formed to put a control on Indian jute industry. These include National Centre for Jute diversification (Kolkata), Jute Manufacturers Development Council (Kolkata), National Jute Manufacturers Corporation, Jute Corporation of India Ltd. (Kolkata), Birds jute & Exports Ltd., Institute of Jute technology (Kolkata), and Indian Jute Industries Research Association (Kolkata).

India is the largest producer of raw jute as well as finished good products. Jute Yarn, Jute Webbing, Jute Hessian Bags, Jute Hessian Cloth also called Burlap Cloth, Jute Geotextiles and Soil Savers are the products dominating the export arena. It became possible due to the availability of cheap and skilled labours in India, and the availability of entrepreneurial skills too. Some of the major Indian manufacturers and exporters of jute and jute products are following:

The East India Jute & Jute Hessian Exchange Ltd
National Centre for Jute Diversification
The Jute Corporation of India Ltd
Gunny Traders Association
Calcutta Jute Fabrics Shippers Association
Calcutta Laminating Industries
Ashim Kar & Industries Pvt. Ltd.
A One Jutex International

As a matter of fact, jute industry is one of the biggest industries which Indian economy greatly relies upon. Apart from having huge export potential, the jute manufacturing companies cater to the domestic market as well. However, the industry is facing some big challenges in its growth such as high production cost and poor supply chain management. With markets and competition going global, India is still practicing the primitive methods of manufacturing jute products. The products made are costlier and are exported at higher rates as compared to other Asian countries, especially Bangladesh which is the biggest threat to Indian Jute Industry. Multi unionism is one of the problems faced by the industry and engages major concentration of routine management in resolving labour dispute. Despite being a mother Industry, Indian jute industry has emerged as a huge decentralized and unorganized sector in the current scenario.

Indian unorganized retail sector & its challenge

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Indian unorganized retail sector & its challenge

India is the only one country having the highest shop density in the world, with 11 outlets per 1000 people (12 million retail shops for about 209 million households). Rather we can see the democratic scenario in Indian Retail (because of low level of centralization, low capital input and due to a good number of self organized retail).

India started its Retail Journey since ancient time.

In Ancient India there was a concept of weekly HAAT, where all the buyers & sellers gather in a big market for bartering. It takes a pretty long times to & step to shape the modern retail. In between these two concepts (i.e. between ancient retail concept & the modern one there exist modern kirana/ mom and pop shops or Baniya ki Dukan.

Still it is predominating in India

So the Indian retail industry is divided into two sectors- organized and unorganized.

Organized retail sector refers to the sectors undertaken by licensed retailers, that is, those who are registered for sales tax, income tax, etc. These include the corporate retail formats of the exclusive brand outlets, hypermarkets, supermarkets, departmental stores and shopping malls.

Unorganized retailing, on the other hand, refers to the traditional formats of low-cost retailing, for example, hand cart and pavement vendors, & mobile vendors, the local kirana shops, owner manned general stores, paan/beedi shops, convenience stores, hardware shop at the corner of your street selling everything from bathroom fittings to paints and small construction tools; or the slightly more organized medical store and a host of other small retail businesses in apparel, electronics, food etc.

Characteristics of unorganized retail-

Small-store (kirana) retailing has been one of the easiest ways to generate self-employment, as it requires limited investment in land, capital and labour. It is generally family run business, lack of standardization and the retailers who are running this store they are lacking of education, experience and exposure. This is one of the reason why productivity of this sector is approximately 4% that of the U.S. retail industry.

Unorganized retail sector is still predominating over organized sector in India, unorganized retail sector constituting 98% (twelve million) of total trade, while organized trade accounts only for 2%.

The reasons might be-

1. In smaller towns and urban areas, there are many families who are traditionally using these kirana shops/ mom and pop stores offering a wide range of merchandise mix. Generally these kirana shops are the family business of these small retailers which they are running for more than one generation.

2. These kiran shops are having their own efficient management system and with this they are efficiently fulfilling the needs of the customer. This is one of the good reasons why the customer doesnt want to change their old loyal kirana shop.

3. A large number of working class in India is working as daily wage basis, at the end of the day when they get their wage, they come to this small retail shop to purchase wheat flour, rice etc for their supper. For them this the only place to have those food items because purchase quantity is so small that no big retail store would entertain this.

4. Similarly there is another consumer class who are the seasonal worker. During their unemployment period they use to purchase from this kirana store in credit and when they get their salary they clear their dues. Now this type of credit facility is not available in corporate retail store, so this kirana stores are the only place for them to fulfill their needs.

5. Another reason might be the proximity of the store. It is the convenience store for the customer. In every corner the street an unorganized retail shop can be found that is hardly a walking distance from the customers house. Many times customers prefer to shop from the nearby kirana shop rather than to drive a long distance organized retail stores.

6. This unorganized stores are having n number of options to cut their costs. They incur little to no real-estate costs because they generally operate from their residences.

Construction Cleanup Cleaning Services

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What is construction site cleanup, and what does a construction cleanup crew do?

Many cities across the nation require that construction sites recycle at least 50% of construction and demolition debris.

A construction cleanup contractor can take care of all the necessary tasks involved in cleaning up a construction site during and after all the stages of construction. These tasks can be more labor-intensive than many construction jobs.

On a basic level, the cleanup crews make certain that all newly built or renovated propertieslike homes and commercial businessesare ready for move-in.

Consult with your construction cleanup contractor to plan the separation of all recyclable materials there will be on the site, and to schedule frequent pickups of the materials. During the consultation, you could be able to plan a recycling program to handle 80% of all discarded materials, depending on how you and the cleanup contractor determine to handle the job.

Rates are based on the preliminary job estimate. Expect to pay around $30 per hour for the cleanup crews services.

The bulk of the construction cleanup crews job is in dividing materials on site as construction progresses.

The construction cleanup crew will allocate areas for wood, drywall, metals, and cardboard. A plastic fence or other clear demarcation will serve to divide the sections of the different discarded materials.

The cleanup crew will conduct timed visits that coincide with key stages of work on the construction site. For example, the crew will likely visit and work after the completion of framing, after drywall work, and after various stages of carpentry work.

The clean up crew loads the recyclables from the different debris sections onto trucks and delivers them to a recycling outlet. These outlets often pay for the discarded materials. That means you could earn income from the sale of your recyclables.

The construction cleanup contractor is also responsible for some of the finishing touches, like cleaning the windows inside and outside; dusting and washing all surfaces; removing stickers from windows and appliances; polishing all glass, marble, and tile; dusting walls and ceilings; and vacuuming floors.

Who should hire a construction cleanup crew?

Contractors overseeing an entire construction site will want to think about hiring a construction cleanup crew. Among the other subcontractors working on site, the cleanup crew can greatly contribute to the timely completion of work, and to the organization of the construction site, by placing recyclable and discarded materials in proper places aside from the overall work commotion.

Homeowners serving as the contractors of a remodeling job, of an addition, or of their new homes will want to hire a construction cleanup crew for the same reason a general contractor would.

City and municipal governments, too, may want to consider hiring a private construction cleanup subcontractor.

What are the benefits and drawbacks to hiring a construction cleanup contractor?

Excess materials on site lead to safety hazards, and they can easily upset inspectors and property owners. Its best to have these materials removed to a specific location off the part of the site that sees most activity.

Construction cleanup crews charge for their services as they are needed. That means theres no extra payroll to add to the overall cost of construction.

Other construction cleanup crews charge a flat fee based on the square footage of the construction site. That means there are no surprises or changes in the originally agreed-upon cost of cleanup.

And think about the convenience: The general contractor or the homeowner serving as general contractor does not have to handle the recycling program on his or her own.

However, as the projects overseer, you may know that its within your budget to handle the recycling of discarded materials without having to hire another subcontractor. General contractors may want to use existing crews however they can to limit the number of subcontractors they hire. For instance, it may be part of the deal that a general contractors other crews partly handle the discarding of debris from the site.

Think about whether or not a group specialized in debris removal can benefit the timely completion, quality construction, and efficient organization of your construction site.

The bottom line with construction cleanup

A construction cleanup crew is extra work on the job site. And extra work means additional expenses.

But hiring one of these crews can actually earn you money back on recyclable materials and increase the efficiency of building progress. That could mean less money expended, and a better job done.