Thursday, August 23, 2018

SBA Loans - What Are Their Functions and Objectives?

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You probably know how difficult to convince your bankers to sanction a business loan for your organization. Meeting the eligibility requirements, these lenders lay down for such funds is only the first step. After this, you have to fill up numbers of applications forms and provide adequate collateral. It is a time-consuming process. However, the government realizes the importance of entrepreneurship for the economies of their country. The establishment you operate in the market not only provides you with a livelihood. It also provides employment to the people you hire. This is the reason why the officials running have come up with small business administration loan schemes.

What is the function of Small Business Administration?

The Small Business Administration is a government agency in America which help entrepreneurs get the funds they need. It conducts its activities through a vast network of prominent financial institutions and private lenders. Its objective is to ensure that these business owners get the loans they require without any hassle. In addition to lending money, the officials of this organization also provide necessary support and education to such proprietors. They leave it up to the lenders to formulate their own eligibility criteria for providing such funds. However, they go to the extent of guaranteeing a small percentage of every loan such lenders give out. This minimizes their overall risk to a certain extent. This ensures the proper growth of various categories of small businesses in the economy.

The entrepreneurial loans which the Small Business Administration provide businessmen generally fall under the three categories:

SBA 7(a) Loans

If you opt to apply for such funds, you can get an up to $ 5.5 million. However, you need to repay this sum and the equivalent interest within a period of 7 years.

CDC/504 loans

You can use this loan to buy land for your business or new machinery to boost production. The amount you get under this scheme depends upon the nature of the asset you want to acquire.

SBA microloans

You have a great idea to fulfill a shortage in the market but no funds to finance your venture. In such a situation such a loan can help you to establish your start-up concern. You can get as much as $ 50,000 for your business. However, you need to repay this sum within a period of 6 years.

SBA loans do not have the same stringent eligibility requirements which banks lay down for sanctioning such funds. However, you need to:

Have a credit score of 620+;

Earn an income of $10,000 over and above annual revenues of your business; and

You should have two years of experience in operating your business unless it is a startup concern 

4 Key benefits of Small Business Administration (SBA) Loans

Industry experts say entrepreneurs can enjoy the following four important advantages when opt to apply for SBA loans:

Comparatively low rates of interest

The interest rates banks charge for the loans they provide is an important concern for most entrepreneurs. They need cost-effective funds to operate their businesses. However, bank officials argue that their organizations need to earn adequate profits. This is why they charge a very high price for the funds they lend out to such proprietors. Prominent professionals from reliable organizations like say this is where SBA loans come into the picture. Depending upon the market conditions, the interest rate on SBA 7(a) Loan can be as low as 6.75%. This is an important fact which you cannot afford to ignore at any costs.

Capital availability

Getting bank officials to sanction a loan you need to operate your business can be a daunting task. They are generally reluctant to provide such funds to entrepreneurs especially those with a low credit score. They need to be absolutely sure they can get their money back with interest. This is why they lay down such stringent eligibility requirements. The situation becomes worse when the economy is reeling under a recession. No one has to explain this fact to you. Fortunately, opt to apply for SBA loans can help you out in such circumstances. You can borrow as much as $5.5 million for your business at a nominal rate of interest.

Repayment period and terms

You need to keep in mind a number of factors when you opt to take a loan from a bank. One of the most is the time period within which you have to repay this money. You need to utilize such funds to operate your business carefully. Otherwise, it could put a lot of stress on your organization's finances especially the cash flow position. This is something you do not want to do. However, SBA loans generally come with the longest repayments period and flexible terms. Opting for such funds can ease the pressure on your business finances. In some cases, you can repay the amount you borrow over a period of 25 years.

Down payments

It is not uncommon for your banker to ask you for a down payment or collateral. Only then will give you the money you need for your business. He/she may insist on laying down such a condition after examining your financial profile. He/she may even consider the purpose for which you will be using such money. Financial experts like explain that SBA loans have the lowest down payments in the market. In some cases, you just have to pay only 10% of the amount you are asking for. In the case of a microloan, you do not have to pay anything at all.

The above four important advantages should convince you that it is worthwhile to opt for SBA loans. They are one of the most popular entrepreneurial loans in the market today. Opting to borrow such funds can do wonders for your business and the economy as a whole. Moreover, the money comes with a guarantee from the government to secure lenders of the risk they undertake. The officials ruling the country are willing to pay as much as 85% of the amount they lend out in case their borrowers’ default. This provides a win-win situation for everyone.

A Weekend of Thrilling E-Sports Action at Globe Conquerors Manila 2018

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Globe At Home kicks off FREE internet for League of Legends with HomeSurf promos

Thousands of gaming fanatics flocked to the Mall of Asia Arena last August 18-19 for the country's biggest League of Legends event, Globe Conquerors Manila 2018! Presented by Globe and Garena, the major esports tournament saw 8 teams from Philippines, Thailand, Malaysia, Singapore, and Indonesia battle it out to become the best team in Southeast Asia. Gamers were also treated to the new HomeSurf promo of free internet for gaming from Globe At Home!

Electrifying regional playoffs
Thai powerhouse team Ascension Gaming rose to the top with a perfect 6-0 record. Fresh off their win at the Garena Premier League 2018 Spring in March, they gained unbreakable momentum and crushed Malaysia's Kuala Lumpur Hunters in the semifinals and fellow Thai team MEGA ESports in the finals. They won the grand prize of $100,000 plus the coveted spot at the League of Legends World Championship in Korea as the Southeast Asian representative.

"All in all, Globe Conquerors Manila 2018 was a major success. There was a great turnout from LoL fans, amazing performances from all of the teams including the celebrities, and a world-class production befitting a world-class game. Pinoy gaming fans can definitely expect a Globe Conquerors Manila 2019," said Jake San Diego, Globe Gaming Director.

Celebs compete for a cause
Fans didn't tune in just for the SEA playoffs, they also cheered for their favorite celebrities as they returned to the Rift for Celebrity Showmatch 3! Team Ruby was comprised of Pinoy crooner Christian Bautista, popular international gaming streamer Cowsep, comedian Empoy Marquez, gaming vlogger Ashley Gosiengfiao, and Fliptop rapper Sinio. On the other end, Team Sapphire consisted of Baste Duterte, teen heartthrob Jack Reid, rapper Shehyee, Miss World 2013 Megan Young, and model/actor Mikael Daez.

What set this year's Celebrity Showmatch apart from previous competitions was that they were playing for a cause, with event organizer Garena joining with the participating celebrity teams in contributing to the environmental group, Hineleban Foundation. Each champion, dragon, and baron take down adds P1,000, P5,000, and P10,000 respectively to the total donation pool. At the end, Team Ruby slayed their way to the top and a whopping P134,000 was raised for Hineleban.

"We are very thankful to Garena for supporting and highlighting our environmental sustainability policy through this exciting match. The generous cash donation will be used in planting 1,340 trees to save the country's primary rainforests in Bukidnon," said Yoly Crisanto, Globe Senior Vice President for Corporate Communications.

Free internet at home for gaming from Globe At Home Prepaid WiFi
Even after this weekend's thrilling Conquerors saga comes to an end, Globe continues to power its customers' gaming experience. With Globe at Home Prepaid WiFi, customers can enjoy FREE INTERNET for gaming apps like League of Legends and Arena of Valor with HomeSurf promos. They can access these games without having to worry about consuming their data allocation. All this for as low as P15!

Globe At Home Prepaid WiFi is available at Globe Stores, 7 Eleven, Ministop, and Abenson stores for only P1,999. Enjoy internet access at home that's 2x faster, has 2x wider coverage and 2x stronger signal vs. MyFi.

This promo is also available for Homesurf15, Homesurf349, and HomeSurf599. For more information,

Stay updated on the latest gaming promos by following Globe on Facebook andTwitter.

Enjoy Every Moment of Life Without Losing Your True Self

Wazzup Pilipinas!
Life is short, time is fast. No replay. No rewind. – Unknown

Might be you have planned your retirement at the age of forty or somewhere near around that but we’re asking just a simple question from you if you are so sure about your age of forty then why you have bought an accidental life insurance? You might have planned a long list of adventures which you will enjoy after achieving that milestone but during the whole of this process, you have forgotten to feel the happiness of each moment.

Everyone says live each day of your life as it’s the last. But no one is going to share with you how? But don’t worry here we are going to share it.

To enjoy each and every moment of your life you must try to understand that happiness is not something that comes from the outside world, it is something which emerges from your soul, from your inner side. So the very first step is to feel the happiness in the inner world of yours. To feel the inner happiness, you must have to reconnect with yourself and for this, you must spare some time for you in the entire day which is known as the ‘me time’. You may spend this time in a garden, a short walk, on the roof of your house or somewhere else. Now the very first question that must be ignited in your mind is, what to do during this ‘me time’? We are going to share with you a number of things that you will find out that you should spare the entire day for yourself.

Some of the activities you must do in your me time are:

1.Meditate even just for the five minutes only but you must calm down your mind and thoughts at least once a day. If you do not know how to meditate then just close your eyes and have some deep breaths. Try to control your mind to get distracted and control your thoughts.

2.See good in everything happened with you. Have a feeling of the blessing even for the little things in your life. Feel blessed for having some great friends, having a child, the recent success, for your health and many other tiny things happening to you.

3.Write something positive each day even it is of 40-50 words. You may write down a small moment of your day like exchanging a smile with your co-worker, for being greeted by an unknown person or something like this. It will make you feel very content. Try to write down this right before your bed and see the magic of this with a peaceful sleep.

4.Forgive everyone at the end of the day. One of the greatest author Norman Vincent Peale wrote in his bestselling book The power of positive thinking pray for the best even for the persons who have not treated you well during the day or in your life. Carrying hatred for anyone is going to harm you itself.

5. The author of another bestselling book Who will cry when you die, Robin Sharma wrote: every day be nice to a stranger. This stranger may be the liftman of your apartment/ office, the watchman or your co-passenger. You cannot imagine, the inner happiness you will get by treating the strangers in this way. You can make their day and yours also.

These are some of the small moments which gives you inner happiness and will help you to enjoy every moment of your life without losing your true self. Preserve your identity during this entire journey and always carry a meek smile on your face because these little moments are not little at all. The more you will start enjoying these small moments, the more inner happiness will start to follow your soul, the happy soul!

Author Bio

Phrona Brown is the author of this article, and she is quite experienced in writing different categories like social media, Health, Lifestyle platforms for marketing or startup. She guide about promoting your business on social platforms. For more details please visit
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