Financing Your Business? Borrower Beware - Get Articles by Mark Askew |  |
> Get Articles > Accounting and Book-Keeping > Financing Your Business? Borrower Beware Financing Your Business? Borrower Beware Download as PDFMark Askew markmortgageloansearch.net The Mortgage Loan Search Network http://www.mortgageloansearch.net So you’re looking for a good deal on a business loan and are not certain where to start. Take heart, most entrepreneurs such as yourself are finding they know idea how to get from a to z. What’s worse is all the teaser ads shouting "Low Low Rates". In addition you're rightly concerned about being taken for a ride and losing thousands of dollars or your business itself. First step is finding a "good" lender offering a bargain loan program at low rates. What you need is not a list of phone numbers to call lenders and ask for rates. You just won't get far using that approach. Lending marketplaces may seem to be the answers but understand that these are often merely hybrid lead auction houses for lenders and brokers to find business. What's actually needed is a financial research resource offering a no tricks no hitch objective approach to learning the ins and outs of finding bargain loan deals online. What’s the difference between a lending marketplace and a FRR (financial research resource)? The FRR provides you with information certain lenders avoid putting on the discussion table. Do’s and don’ts when trying to save money financing or refinancing your loan. Pros and cons when choosing the right lending program for your business, tips and alerts to finding the most reasonable loan offers available in the financial industry. Financial research resources discuss other issues such as how to shop low rates? How to find a good lender? Is this a good time to refinance? What will the rates look like in the immediate future? What’s a reasonable fee charge? How do credit scores impact my loan? If rates are cut or go up, how will this affect my loan payments? How do I calculate what my payments will be at a given rate? These insightful financial tips will fortify you with enough know how to make competent financial decisions to get the loan that’s right for you and grow your business rather than inhibit growth due to exorbitant loan costs. One of the biggest dilemmas facing a low rate loan shopper is where to go to actually shop loan rates. Here is where select lending marketplaces come in. The right lending marketplaces help you save a lot of money, time and footwork. You fill out one application. Your application is matched to several lenders seeking to win your business in a highly competitive lending auction house. These will try to match or beat other lender offers you’ve received from the lending marketplaces listed below and leave you with the better deal. You’ll save time making phone calls one institution at a time as most of these lending marketplaces offer online reports of lenders seeking your business. You select the best loan offer. You get the best deal. But you don't want just any lending marketplace. Many treat you like a number. If the numbers are good you get lots of attention. But not necessarily a good deal. If your numbers are not so good you're set aside until who know when. A good lending market place will almost always find the best lender/borrower match and provide a number of offers from lenders with just the right loan program to match your situation. Fees are presented up front and are often open for negotiation. Where are these top lending marketplaces? FFR's usually list them. The Mortgage Loan Search Network at http://www.mortgageloansearch.net has reviewed hundreds of lending marketplaces for small businesses and created a list of the best loan shopping centers based on our own customer service satisfaction criteria, onsite consumer oriented information, helpful and user friendly shopping console, intuitive and comprehensive tools and rate watch programs and more. Each lending marketplace is listed according to how it is rated. As with any bargain hunter venture, you have to beware of what your sold. For instance, low rate ads can often just be a "teaser" to get you in the door. Billions are made in the mortgage industry by dangling the proverbial bone but never actually getting to bite of it. You have to know how to insist on getting a realistic rate quote from a trusted source with a reputation for putting the borrower first. There are still a number of good lenders out there. They're the ones who answer all your questions. The one willing to put his promises in writing. The one who not is not merely trying to meet a quota. The one who takes the time to tell you how to protect yourself from fraudulent practices and predators. To get started finding the right rate, lender and loan program, 1. Read selected tips and guides provided by FFR's. 2. Select any or all of the lending marketplaces listed on site. 3. Fill out each marketplaces loan request application indicating desired rate where appropriate. 4. Start comparing offers and accepting the most money saving, competitive loan offer almost instantly. Remember, don't just settle. Find the best rate, loan program and of course a good lender who best serves your needs. Following these steps will allow you to grow your business and prosper. Mark Askew is editor for the Mortgage Loan Search Network at http://www.mortgageloansearch.net and the Rate Watch Alert Newsletter. Offering consumers alternatives to business and personal finance. How useful did you find this article? This article can be downloaded freely from http://www.get-articles.com and used on your website or in your ezine so long as the author is credited and their resource box left intact. You should not change any links in the article, and where the article is used on a website it's links should be clickable. 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