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The biz is $30k. what options are there? investors? no banks please.

If you are avoiding banks because of credit issues, you will have trouble with finding investors.

The starting point would be to develop a business plan that shows how you plan to develop the business which includes capital growth projections. Investors (being people with money that have been their done that) will scrutinize this plan, so be sure you are realistic. The best place to find investors is to go to friends and family that already have a reason (I assume) to believe in your success.

I would also recommend going to the Small Business Administration for helpful information on starting a business. They have several links and articles about start up capital.

I’m looking at a used car lot in vegas for 600,000. It does 1.8M year in sales, owner profit over 250K. Sale comes with real estate valued at 400,000. The owner will even finance 50% at 8% amortized over 20 years. I have maybe 30,000 in equity in my own home. Could I get this? Can I use the real estate from the dealership as collateral? What banks would u suggest? Thank you

Remember that there are no such things as small business loans. Check my article linked below. Banks call them small business loan but the reality is that they only lend to major corporations or to individuals. that means that any loan you get is going to get will have to be guaranteed by you personally. Also, Vegas has the highest unemployment in the nation and real estate prices there are among the worst in the country. You will be hard pressed to get a loan. You really need to get the property evaluated by your own appraiser. Likely that the property isn’t worth what it was last week. Also, I find that most business owners play fast and loose with the books when they are selling a business. So you want to look at both business and personal tax returns for the owner for the last 5 years to see what their trend is. Used cars sell better than new right now but you have to have a job to buy a car and lots of people in Vegas don’t have jobs.

What can I do? Does anyone know any good books, or websites that would explain all the basics of taxes, how the banks work, bonds, stock, investments, insurance? I just feel really lost in all of the stuff going around on the news and stuff, and I would really like to be educated on these matters.

Here are some great magazines / newspapers:

The Wall Street Journal = daily financial newpaper but also includes current events and other funner topics.
Money = monthly magazine about personal finance
Smart Money = monthly magazine that is a cross between personal finance and business finance

$600, how long do you have to wait in order to receive another personal loan if your loans are up to date and paid on time. I live in SC.

The first poster is correct. It really depends on a number of factors. The lenders will be less concerned with how recently you had your personal loan as they will be with the total amount of debt you currently carry versus your income. If they believe you can reasonably afford to make the new loan payment with your current level of debt and income, then they will give you the loan. Understand that banks are very tight with their lending right now, so personal loans are harder to come by.

Here is an article from yahoo about places to borrow money from, http://finance.yahoo.com/loans/article/104653/Borrowing-Options-That-Offer-a-Lifeline?mod=oneclick . One of the best options they give is social, or P2P lending. Here is the social lending site that I use, http://join.lendingclub.com/borrowing.php?src=67555&reg_referrer=samoan3d . It is free to sign up and get a rate quote, so you don’t have to worry about a catch. If you sign up, let me know your username and I will try to help fund your loan.

I just bought Quicken Deluxe 2009 (This is my first personal finance software purchase – I have NO idea what I’m doing). I love that the program can show spending per category, and income information, but I noticed that after linking to my online banking it only includes information for the past month. Is there a way to get the rest of my history on there short of entering it by hand? Should I have waited to install it until Jan 1st?

The Online Banking services I have used with various banks (Chase, Bank of America, MBNA, American Express,…) by default only download the previous statement’s transactions, or about one month’s worth of transactions.

You may have to specify a longer period in Online Banking when downloading or choose an earlier period and download for that period and each earlier period. It’s less an issue of Quicken functionality and has more to do with how far back Online Banking goes for your bank. Try contacting them or checking the help in Online Banking. Chances are they go back no more than a year and possibly as little as 90 days in available online data.

Good luck!

I’ve had a few jobs and now I’ve got retirement accounts in different places. Would it be better to keep all my personal finances (retirement or otherwise) in 1 or 2 financial institutions or have several different ones (should one place fold?)? No one ever covers this in all those advice columns, articles, lectures. Thanks.

Banks are insured so don’t worry about one folding unless you have over the insurance limit of $250,000. I would consolidate if my cash and CDs were below that. My stocks are in mutual funds so that’s not a worry at least as regards to who holds the certificates so I have one brokerage.

1. Visit the website of a large national bank, regional bank, or credit union, and use the information you find there to answer the questions below. EXAMPLE: Some large banks you might consider include Bank of America®, JPMorgan Chase®, Wells Fargo®, Citibank®, and U.S. Bank®.

a. What is the name of the bank or credit union? (0.5 points)

b. List three facts about savings account options at the bank or credit union you chose. (3 sentences. 1.0 points)

c. List three facts about checking account options at the bank or credit union you chose. (3 sentences. 1.0 points)

d. Does this bank or credit union offer online banking? (0.5 points)

e. Would you be likely to choose this as your bank or credit union? Why or why not? List at least two reasons for or against choosing this bank or credit union. (3-6 sentences. 2.0 points)

2. Visit the website of a second large national bank, regional bank, or credit union, and use the information you find there to answer the questions below.

a. What is the name of the bank or credit union? (0.5 points)

b. List three differences you found between the accounts and features this bank or credit union offers and the bank from question 1 above. (1-3 sentences. 1.0 points)

c. Which of the two banks or credit unions that you researched would you be most likely to choose to open an account with? Why? (2-4 sentences. 2.5 points)

3. What type of bank risk would worry you the most as an account holder? How should the bank protect itself against that risk? (2-4 sentences. 1.0 points)

4. If you had a bank account, which two methods of completing transactions do you think you would use most frequently? Why? (2-4 sentences. 1.0 points)

5. In your Section_3 folder, navigate to and open the Example_Check_Register and Example_Bank_Statement, and then answer the questions below.

a. According to the bank statement, how many checks were written from this account during the statement period? (0.5 points)

b. There are two differences between the bank statement and the check register. Describe each of them. TIP: These are transactions that Jessie Robinson forgot to write down in the check register.

c. Do you think it is best to keep track of finances using a check register, a bank statement, or both? Why?

d. List at least two non-discretionary expenses listed on the bank statement or check register.

e. List at least one discretionary expense listed on the bank statement or check register.

f. Describe at least one challenge of keeping a check register.

This is your homework. Go to a Bank website and read about Checking Accounts. All the answers for your questions are printed there.

I’m looking for one that will connect to my online financial accounts (banks, credit cards, investments, etc). Microsoft Money? Quicken? Something else?
Ok – I have one vote for MM and one for Quicken. Anyone else want to weigh in? Thanks!

I love Microsoft Money – you can organize all your accounts and run reports on your spending, etc.

Isn’t this the very kind of thing that gets consumers into trouble with credit? This seems very unethical to me!!

http://ca.finance.yahoo.com/personal-finance/article/cpmoney/homebuyers-urged-beware-mortgage-policy-tied-secure-line-credit-20090122

My bank went and upped my LOW CREDIT Visa from 11 percent to 19. They claim I "missed" my minimum payments when in fact I paid down each month.

When I actually CHECKED my statements I realized that the DUE DATE floats around each and every month….like it’s not due the 20th of each month, one month is the 17th, next the 21st….and even if it went in AFTER the due date it did not count as CREDIT towards the NEXT MONTHS minumum.

What a bunch of total frickin con-artists.
And before all the finger waggers get on board, my house is paid for long ago. Visa is the only debt we have and chit happens you know? Kids need braces, cars break down, roofs leak, yadda yadda.

In the US, the banks were given a special pass to the credit market and no nice way to say, screw over the people. Credit companies are jacking up rates, changes rates, adding fees,used to charge high rates for those that filed bankruptcy,now, the money has to be paid back and people cannot keep their homes either! There were a couple candidates running for office that favored this, Clinton,Edwards and of course the Republicans and they are exactly why they did not get in office. Then put unequal trade into that ands a perfect recipe for losing your job and home. Congress just "passed a bill" to remedy this, it does not take effect for 19more billing cycles! Kind of late for the ones who are being subjected to these constant and current and continued changes! I m pissed. I had a rate that was 1.99, and it has never been late, and now I got something saying the rate is going up to at least 11% +prime. The payment is already almost 500! If they raise it, I m not sure, I could be done! I have greatt credit and I also did not use a card and the one back closed it, That ruins your credit score. JcPenny changed my due date is is forever giving me an ongoing headache with my bill, I pay if off in full every month they just add extra and change amounts of purchases, too much to go into. They are crooked. They have pakistan do billing and you cannot get anyone to really help you. I will not buy nay thing anymore from them . Other banks are also sending billling over seas. No wonder we need to worry about identiy theft, who is governing them!
Con artist is right, and they get these extravagant favors from government, I believe the term if lobbyist. People need to demand that governement that permitted this change in ethics make it stop! Bush and deregulation and his friends on wall street as well as the Republicans that helped the ones at the top get their pay packages and profits. This is not sour grapes, it is truth. It is one of the reasons I am into writing letters, but it needs to go beyond that, people have to take involvement and action. No one is unaffected, it is why I often get my questions deleted, no one wants the truth, they think it is a violation to inform people of the mess that is still unfolding and costing many plenty. Yet in the US, thanks again to Bush and his corruption that also has many judges that will not be going anywhere, 2/3left will make decisions, that are not going to favor, anyone but the same crooks that are and have helped this mess, and with no recourse. No right to sue. Hello, In other words no right for accountability. The disaster of this, it does not just affect the US, but the rest of the world, These banks, are not actually or primarily owned by anyone in the US but around the world .Yeah so there is much that all the soldiers for the far right and conservative compassionism fail to realize that it is not about lazy low life deadbeats, but about permitting and helping corruption to flourish while "thinking" that they are "supporting" good morals, ah as if they have any-the ones "responsible"
Great question, the answer:, because they can! High profits at the stock market. Another grand illussion sigh,,,…. but thanks!
Oh one more thing! They are also reducing people lines to say they are now oever the limit, which also enables them to raise rates add fee etc, The problem is that is can and is happening to many, I gues when it hits the billion dollar babies, then it will stop!

I need tips on how to get money and strategize.. Please help! Its for a grade

1. Are you talking of the game of ‘virtual business personal finance’, or real business finance.

2. If you are talking of game, Virtual finance is a branch of game design theory which is concerned with monetary aspects of virtual worlds, such as massively parallel multi-user games. Like real finance, virtual finance is concerned with issues like inflation, money forgery and convertibility of virtual monies.

http://en.wikipedia.org/wiki/Virtual_finance

2.1 You can get more information on the subject on several sites on the following link:

http://in.search.yahoo.com/search;_ylt=A0geu8N3jJlPoFUACKzuPXRG?p=virtual+business+personal+finance%3F&fr2=sb-top&vm=r&rd=r1

3. If you are talking of real business finance, the you can get money from the following sources:

i. Your parents and relatives
ii Friends
iii. Banks.

3.1 Then you can start a business as per your abilities.

3.2 Please take help of a consultant who will prepare a project report for you and will help you in various formalities in connection with formation of a business organisation and obtaining of finances.
.