Author: Raymond David

New comment by dustanbower in "Ask HN: Who wants to be hired? (May 2021)"

Location: Virginia

Remote: Yes (have worked exclusively remotely for past 10 years)

Willing to relocate: No

I’ve been doing full-stack work for the past 10 years, with Python and Django on the back-end and HTML, CSS, JavaScript, and jQuery on the front-end. I’ve also worked with the Django REST Framework and React.js. I’m intimately familiar with schema and data migrations, including migrations between Django projects. I’ve worked extensively with startups and I’ve worked with large companies. I have a lot of experience working with distributed teams and am open to occasional travel.

Résumé: https://drive.google.com/open?id=0B8b4x4qzEFAOS0FFb1NhcDBOVk…

LinkedIn: https://www.linkedin.com/in/dustan-bower-722331ba/

Technologies: JavaScript, React, Python, Django, Django REST Framework, migrations

Availability: Flexible

Email: dustan.bower at gmail

Best Ways to Borrow Money to Start Business Growth and Expansion

When it comes to borrowing money for business growth and expansion, or even to start a business from the beginning, there are many options. So many in fact, that it can become overwhelming. All the ways to borrow money to start business growth, expansion, or from scratch vary.  Factors like terms, rates, and amount available all make a difference. What’s the best option for your business? 

Which Way to Borrow Money to Start a Business is Best for You

If you are considering borrowing money for business expansion, you need to to think about the following: 

  • Where to apply for a small business loan
  • Terms of business loans
  • Business loan rates

What type of business loan is best for you?  It depends on a number of factors. First, you have to know what’s available. 

Borrow Money to Start Business Growth: SBA Loans

SBA loans are loans with a government guarantee through the Small Business Administration.  Participating lenders handle the application process and distribution of the funds. They guarantee up to 85% of loans of $150,000 or less. Loans that are more than $150,000 they will guarantee up to 75%. The maximum loan amount they offer is $5 million. 

Due to the government guarantee, financial institutions are able to offer them at lower interest rates. 

Find out why so many companies use our proven methods to get business loans. 

SBA 504 Loan Program

These loans are also available up to $5 million.  You can buy machinery, facilities, or land, making them perfect for borrowing money to start business expansion. They work especially well for commercial real estate purchases . 

Terms for 504 Loans range from 10 to 20 years. Funding can take from 30 to 90 days. You need a minimum credit score of 680.  Also, collateral is the asset it is financing.  There is also a down payment requirement of 10%, which can increase to 15% for a new business. 

There is also a requirement you be in business at least 2 years, or that management has equivalent experience if the business is a startup. 

7a SBA loan

This program also offers federally funded term loans up to $5 million. You can use the funds for expansion, purchasing equipment, working capital and more. 

The minimum credit score to qualify is 620.  There is also a downpayment requirement of at least 10% for the purchase of a business, commercial real estate, or equipment. The minimum time in business is 2 years. In the case of startups, business experience equivalent to two years will suffice. 

This option is also great for borrowing money to start a business from scratch. 

Borrow Money to Start Business Growth: AR Financing

Borrowing against receivables is a way to borrow money to start business growth or expansion as well. Many businesses wait weeks, or even months, to get paid on outstanding invoices.  These open invoices are accounts receivable. 

It can create major cash flow issues,  because they provide their goods and services and absorb those costs until they eventually get paid. Sometimes it can take 90 days or longer to collect. 

Of course, there is something to be said for offering better terms to your clients.  Allowing them to pay invoices later helps establish with clients.  It’s an incentive for them to choose one business over the other. 

If you have a lot of these open account receivable, AR financing can be a way to borrow money to start business expansion! You can get the funds in as little as 24 hours.

Monthly rates are between 8% and 12%, and you can get financing as high as $10,000,000. All of this is possible, even with severely challenged personal credit.  

Find out why so many companies use our proven methods to get business loans. 

Borrow Money to Start Business Growth: SME Loan

An SME loan (Small and Medium Enterprise Loan) is a good option as well.  They are generally designed to help those small and medium businesses in underserved areas or with owners from underserved populations.  

While interest rates and business loan terms vary, many business owners find luck in obtaining an SME loan to fund expansion or growth. 

Borrow Money to Start Business Growth: Credit Line Hybrid

The Credit Line Hybrid allows you to fund your business without putting up collateral.  It’s revolving credit, like a credit card or line of credit, so you only pay back what you use.  

To qualify, your personal credit score has to be at least 680.  In addition, you can’t have any liens, judgments, bankruptcies or late payments.  Furthermore, in the past 6 months you should have 4 or less credit inquiries, and you should have less than a 45% balance on all business and personal credit cards.  It’s also preferred that you have established business credit as well as personal credit. 

If you don’t qualify on your own, you can take on a credit partner that meets each of these requirements.  Many business owners work with a friend or relative to fund their business.  If a relative or a friend meets all of these requirements, they can partner with you to allow you to tap into their credit to access funding. 

What are the Benefits of a Credit Line Hybrid? 

Not only is this unsecured business funding, meaning you do not have to have any collateral, but it is also no-doc.  That means you do not have to provide any bank statements or financials.  

Also, typical approval is up to 5x that of the highest credit limit on the personal credit report. Furthermore, often you can get interest rates as low as 0% for the first few months, allowing you to put that savings back into your business. 

Find out why so many companies use our proven methods to get business loans. 

The approval for multiple credit cards creates competition.  This makes it easier, and likely even if you handle the credit responsibly, that you can get interest rates lowered and limits raised every few months. 

The icing on the proverbial cake is, the Credit Line Hybrid reports to the business credit reporting agencies. That means it can boost your business credit score. The process is pretty fast, especially with a qualified expert to walk you through it.

Use a Business Credit Expert to Help You Borrow Money for Your Business

Did you even know there was such a thing as a business credit expert? There is, and the Credit Suite business credit experts are the best. A business credit expert can help you: 

  • Find the best loans for your business
  • Analyze your overall business fundability
  • Walk you through the process of improving findability if needed
  • Help you find funding you qualify for now!
  • Help you build your business credit profile

Business credit experts are versed in who to call and who to talk to with lenders to find out what they are looking for. They can guide you through the tangled web that is fundability, make sure your business is set up in a way to make you as fundable as possible, and ensure you have every opportunity to get the business funding you need now and in the future. 

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Algolia (YC W14) is hiring to enhance its search engine

Article URL: https://www.algolia.com/careers/senior-software-engineer-distributed-systems-paris/

Comments URL: https://news.ycombinator.com/item?id=26669523

Points: 1

# Comments: 0

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The post Algolia (YC W14) is hiring to enhance its search engine appeared first on Get Funding For Your Business And Ventures.

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Coronavirus Business Impact: What You Need to Know Now

Here’s what we all know. There is definitely a coronavirus business impact. The market is scary right now.  You are probably thinking now is not the time to make any big financial decisions about your business. However, the truth might surprise you. 

You Need to Know the Facts About the Coronavirus Business Impact

Here are the facts.  The federal government does not want to see a collapse of the economy any more than we do.  They want to do what they can to help small businesses, and they are taking steps to do just that.  State governments are in the same boat, wanting to ensure their states are able to survive and thrive economically despite the coronavirus business impact. What steps are being taken, and what do they mean for your fundability? 

Coronavirus Business Impact: The Bad News

Here’s the bad news, as if you didn’t already know.  Businesses are closing. People aren’t going out anyway.  Spending is vastly curtailed. Without a steady flow of income, eventually businesses will not be able to make payments on existing debt. 

Of course, some businesses may be able to make current payments for a few months.  However, access to new credit will likely not be around for long, at least when it comes to traditional banks. 

The good news in light of all of this darkness is that no one wants this to happen.  That means measures are being taken to try and stop the spiral. The most notable is the rate cut by the Federal Reserve.  The most recent cut brought the rate down to 0%.

Get funding for your business.

Coronavirus Business Impact: What Does This Mean for Your Fundability? 

First, it helps to know exactly what fundability is. Basically, it is the ability of your business to get funding.  Can you get approval for financing? Is your business eligible for a loan, a line of credit, or a credit card?  It all depends on your fundability. 

The cut rates and other measures do not truly affect the fundability of your business as so much plays into that. However, if you are eligible for any financing at all, it will most definitely allow you to get lower interest rates.  Even if your credit score is low, meaning your rate is higher, it would be lower right now than it would have been even last week. 

Coronavirus Business Impact: Is Now the Time to Start A New Business? 

Because of that, along with the unique market now presented, now may very well be the time to jump on starting or growing your business rather than holding back.  As already mentioned, any financing is going to cost much less right now.  

However, you also have a never before seen opportunity, one we never saw coming, to create a business that works well in a market we’ve not seen in modern times.  With the rise of social distancing comes a host of other needs. We are already well set with grocery delivery and food delivery services, but the possibilities are literally endless.  Many of these opportunities could easily continue to be useful and profitable long after the crisis has passed. The best part is you could help people right now.  

Maybe you have always dreamed of starting a mobile dog grooming business.  Want to open a salon? Maybe take your equipment into homes and do your thing, with the opportunity for clients to see you sanitize and suit up before you enter their home. 

If you have an innovative, useful idea that could continue to work after this is all over, now is the time to jump.

Coronavirus Business Impact: What about Current Businesses? 

If you currently own a business, you have to act fast.  Retail stores, restaurants, entertainment facilities and more are being asked to shut down each day.  If you act now, before this happens to you, you can get funding that can help you get through this time with a better interest rate than has been available in a long time. 

Another option is to take the funding and find a way to adapt your business to the times.  Maybe offer delivery or curbside options if you don’t already. Been thinking about going online?  Now’s the time to launch. Again, you must act fast to take advantage of lower interest rates. 

Coronavirus Business Impact: Resources Available to Help Businesses Negatively Impacted

The federal government is working on a number of options to help businesses during this time.  One idea is a cut in the payroll tax. Currently, SBA loans are getting an increase from the relief fund for COVID-19. $50 billion is going in as relief in March of 2020. Also, the SBA is also waiving upfront costs on financing to veterans, up to $1 million, in the SBA Express program.

SBA Disaster Relief

The SBA is currently permitted to exercise readily available authority. They will supply funding to businesses affected by the coronavirus to help overcome disruptions. The president is asking Congress to raise financing for this program. The intent is to make 30 million small businesses more resilient to coronavirus-related economic disruptions.

Here is what you need to know about the process for accessing these funds according to SBA.gov. 

 

  • When they get a request from a Governor, the SBA will issue an Economic Injury Disaster Loan Injury Declaration. 
  • This declaration makes loans available to small businesses to help relieve the economic injury due to Coronavirus. 
  • The Office of Disaster Assistance will work with the Governor to submit the request for assistance. 
  • Allowable uses of these funds include: 
    • Pay current debts
    • Payroll
    • Accounts payable
    • Pay other bills that the business will not be able to pay to the coronavirus business impact
  • The credit rate is 3.75%, or 2.75% for non-profits
  • Businesses with credit available elsewhere are not eligible.
  • In order to keep payments affordable, terms go up to 30 years.  Determination on individual loan terms will be made on a case-by-case basis.  The borrower’s ability to repay will play a role in this decision 
  • The Economic Injury Disaster Loans are just a part of the big picture of the federal government’s plan for relief. 

Get funding for your business.

Some State Governments are Offering Assistance as Well

Some state governments have stepped up also.  In New York, businesses with up to 100 employees that can show a drop in sales of 25% or more may be able to get a loan of up to $75,000 interest free. In addition, businesses that have fewer than five employees may be eligible for cash grants.  These can go up to 40% of payroll costs for a couple of months, so that would average to about $6,000. 

In Washington State, they are working on favorable credit terms for businesses that have cash-flow problems.  In addition, there is a debt and late penalty forgiveness program in the works, as well as deferred bills, waived fees, and no-interest loans. 

Colorado, Florida, and other states are beginning to roll out their own unique aids to help both individuals and businesses impacted by this crisis. 

Coronavirus Business Impact: Into the Future

There is no doubt this is a huge beast, and the landscape is very muddy.  Eventually it will dry out and the beast will be gone. When it is, there is likely to be a nicely preserved footprint left behind.  What might the new business landscape look like? Will companies embrace telecommuting like never before? On the flip side, will employees begin to push for it more?  Will we see an even greater rise in home services, or delivery, because consumers who were previously wary of them now have to give it a try. Will there be more homeschoolers than ever before because some who were not sure before now see they like it? 

Imagine the business opportunities.  You could find yourself on the leading edge. However, to get the funding at the best rates available in a long, long time, you have to act now. 

Coronavirus Business Impact: Where to Go to Take Advantage of Lower Rates

Other than the SBA, another option is to take a look at what is happening with private lenders.  While their rates are typically higher than those of traditional lenders, the Fed’s cut shouldl make even private lender rates lower than normal. 

They are likely less affected by current events. We have some favorites which can be a good fit for this unique economic climate. Some can even work with low annual revenues or lower credit scores.

Online Lending Institution OnDeck

Apply online with OnDeck and get a decision as soon as processing is over. If you get approval, loan funds will go to the bank account you select. Financing can be fast. Entrepreneurs can use such a loan to establish their company’s credit history by making prompt payments. They have fixed rates. $5,000- $500,000 is available.

With OnDeck, you will need to have a 500 or better personal credit score for a minimum of one owner. There is also a 1 or more years in business requirement, in addition to $100,000 or better gross yearly earnings. You cannot have a bankruptcy in the last 2 years, or any unresolved liens or judgements. 

Online Lender StreetShares

StreetShares is a loan provider offering term loans, credit lines, and specialized veteran company bonds.  In addition, small business loans and investing alternatives are available. Most recently, they offer contract financing, which is similar to invoice factoring. Pre Approval takes just a few minutes and does not hurt individual credit. Loans are available ranging from $2,000- 100,000. 

You need to have one year or more in business and $25,000 or better in yearly income. Often, StreetShares will make exceptions for high-earning businesses at least 6 months old. You need to have a 620 or better individual credit rating, be a United States citizen, and have reasonable credit. If you do not have reasonable credit, you need a guarantor that does. 

Online Lender LoanBuilder

A PayPal service since November 2017, LoanBuilder concentrates on short-term lending to midsize businesses. They provide term loans. You might have the ability to get a loan by the next business day. They have customizable loans without an origination fee.

Loans range from $ 5,000- $500,000. Requirements include a 550 or better personal credit score, $42,000 or more in annual profits, as well as 9 months or more in business. 

Online Lender BlueVine

Get quick money with BlueVine. They offer invoice factoring as well as lines of credit. BlueVine can process financing in just a day. Loan amounts from $5,000 to 100,000 are available. Lines of credit are not available in all states. Requirements are 6 or more months in business as well as $100,000 or more in yearly income. Plus, you need to have a 600 or better personal credit rating. 

Get funding for your business.

Online Lender Credibly

Credibly is a direct loan provider that specializes in unsecured business funding. Can take just a day or two from application to financing. Funding can cover overhead or day-to-day operations. Loans are available from $5,000- $250,000. Your personal credit does not need to be super-high.

Credibly requires a 500 or better individual credit score, 6 or more months in service, and $15,000 or higher in average monthly deposits. In addition, you must have at least $10,000 in monthly deposits. 

Coronavirus Business Impact: Act NowCOVID-19 impact Credit Suite

There is a small window of time to access cash, and it is open right now. You cannot wait.  Even if you do not currently see a need, you need to take action. Take a look around and see what your options are for financing. You don’t have to spend it, but you need to get it so you will have it.  The chances are highly likely that you will end up needing funds at some point during this crisis, but you cannot wait until you do.  

By finding funding now, you can prepare yourself at the best rates possible.  Not only that, but you reduce the chance of needing funding in the future and not being able to access it. Don’t wait until it’s too late.  

The post Coronavirus Business Impact: What You Need to Know Now appeared first on Credit Suite.

Interest-Only Mortgage

Interest-Only Mortgage

In an interest-only home mortgage, you will certainly still have to pay for the finance principal. When you obtain an interest-only home loan, what you’re truly obtaining is an interest-only repayment approach which you can incorporate with various other standard home mortgage kinds.

The various other point you require to remember is that the specified advantages of interest-only home mortgages are overemphasized. In a common home mortgage, 95% if each buck paid to the loan provider mosts likely to the funding rate of interest. Hence on a $100,000 conventional finance with 6% rate of interest, the complete settlement would certainly be $600 with the $500 mosting likely to passion and also the various other $100 for equity.

A Brief History of Interest-Only Mortgages

Interest-only home loans are not reasonably brand-new ideas. The concept behind interest-only home loans was generated from the extra versatile and also much more creative big home mortgage markets. As a result of this, interest-only home loans are typically a funding kind chosen by well-to-do customers as well as wise capitalists that wish to make use of the major section of their repayment on various other extra efficient financial investments.

Due to the fact that interest-only home loans are big car loans, the distinction in regular monthly repayment expands with the bigger lending quantity. In a $100,000 interest-only home mortgage financing, the per month distinction is $100.

This is partially the reason interest-only home mortgages are still chosen by prominent capitalists. It is just all-natural to presume that there are some substantial threats linked with an interest-only home loan, particularly when it comes to supplies.

Interest-only home mortgages have actually repayment durations based on flexible price home loans. Interest-only home mortgage settlement routines are likewise provided in set price home mortgages.

Momentary Payment Periods

The repayment durations for interest-only home loans nearly never ever compete the whole regard to the financing. Despite a set price home loan, interest-only home loans are still bound to be just momentary. As well as InterstFirst item just allows interest-only home loan settlements for fifty percent of the overall term.

The expiry routine of an interest-only home loan repayment is typically at the end of a collection duration. This makes interest-only home mortgages suitable to “amalgam” flexible price home mortgages When the interest-only home mortgage repayment involves an end your settlement will certainly after that increase to consist of primary as well as rate of interest.

The terrific feature of interest-only home mortgages.

Interest-only home mortgage repayments likewise have their benefits. Due to the fact that interest-only home mortgages do not require so a lot throughout its first years, you can make use of the settlement differential in a cash money financial investment.

The “extra” cash money supplied by interest-only home loans might likewise be utilized for university cash, retired life cash, as well as also as a seasonal revenue aspect.

When you obtain an interest-only home loan, what you’re truly obtaining is an interest-only settlement approach which you can incorporate with various other standard home mortgage kinds.

The suggestion behind interest-only home loans was generated from the extra adaptable as well as a lot more innovative big home loan markets. Interest-only home mortgages have actually repayment durations based on flexible price home loans. Interest-only home mortgage settlement timetables are likewise provided in set price home mortgages. Also with a set price home loan, interest-only home mortgages are still bound to be just short-term.

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