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Volume 6, Issue 4 June, 2016 June 30, 2016 |
| Greetings: Here is your latest issue of BM$ Success Newsletter – the companion newsletter to the "Business-Money-Source" website. 5 Reasons Commercial Loans And Large Project Loans Are Not Funded (Part 1 of 5)Reason No. 1: The Loan Seeker Refuses To Pay Required Due Diligence CostsI’m sure that you have heard that there is “no free lunch” many times in your business career. Nowhere is that old saying truer than in the business funding industry.Business Money Source receives loan requests for many project loans ranging from a few hundred thousand dollars to multi-millions. The projects all have one thing in common; in order to be funded, due diligence (a thorough investigation) must be performed to evaluate the validity of the project and qualifications of you, the loan seeker (the Principal). This due diligence costs various amounts of money depending on the size, location and kind of project. The Funding Source Will Not Pay To Evaluate Your Loan ProposalThe evaluation of your loan application may often require travel to your project site, meetings, appraisals, permits, legal fees, etc. Third parties, such as appraisers, accountants, architects, consultants, engineers, lawyers, surveyors, and government officials are needed to accomplish these tasks. Each one of these professionals has to be paid for their work at the time the work is completedMany times the Principal often assumes that the funding source will absorb these costs. This is not the case. No lender or investor, public or private, is going to pay to evaluate your project. It is simply not economically feasible. Due diligence costs can range from five hundred to tens of thousands of dollars depending, on your particular project. The funding source will give you an estimate of the due diligence cost and will usually not request that you pay them unless your project is fundable. The loan process often does not proceed beyond the point where the funding source notifies the loan seeker that he/she will have to bear the costs of performing due diligence on the loan evaluation. The Loan seeker often balks because 1) he/she is suspicious of the fee believing it to not be legitimate or 2) simply does not have the financial ability to pay the due diligence costs. When questioned about why he/she will not pay the due diligence, usually the loan seeker will say that they have lost money before and will not under any circumstances pay anything in advance before the loan is closed. While caution is understandable, the hard truth is that if you are not willing and able to invest some of your own capital into the financing process, your project will not get funded. Even it there is the possibly of getting 100% financing for your project, it doesn’t mean there still won’t be some initial costs to you for evaluating your loan proposal.
Maybe Time To Re-evaluate Your Business GoalsIf you are trying to acquire a $1 million dollar or more large project loan or commercial loan and you are not able or willing to spend the $5,000 - $20,000 or more it will cost to evaluate your project and satisfy the due diligence, you are wasting everyone’s time. That is blunt but true. If this is your situation, it may be time to re-evaluate your business objectives and take on a smaller more realistic project.Learn More About Due Diligence FeesClick on the link below and fill out the contact us and ask for the BMS_Hard_Facts_Commercial Loans Report. ConUsPage2 The Next issue of BM$ Success Newsletter will cover Reason No. 2 of the 5 reasons commercial and large project loans are not funded.This Month’s Business Survival TipWhat’s In An Email Address Name?Your email address is part of your brand like your business name, logo, website, phone number, etc. Yet, it appears that many business people do not put a lot of thought into their email address. Your email address should reflect you and your business as much as possible. You also want it taken seriously by your recipients. So it should be a no-brainer not to use names like joesixpack@yahoo.com or partygirl@hotmail.com! (note: these email addresses are used for example - any similarity to actual email addresses is purely coincidental)5 Tips for choosing an appropriate business email name1. Your business email should have some recognizable part of your business, company name, product or service. For example, my main business email is: jim@business-money-source.com2. Use all as much of your actual name as possible. Your recipients will become familiar with your name and look forward to receiving your emails. 3. Don’t use cryptic names like xyz27b2@joesappliancesales.com. It will mean nothing to your email recipients and it looks like SPAM. 4. Don’t make your email name too long. People don’t want to type in long names like benjaminhamiltonfuddnester@fuddnesterenterprises.com. Also the longer the address, the more likely you or your recipient will make a typographical error. 5. Avoid any names that would imply any kind of political or religious affiliations or leanings. You do not want to alienate your email recipients that may not think or believe as you do. Each detail to your business brand helps to solidify recognition and sets you apart from your competitors. Make sure your email address is contributing positively to your business brand.
Let us know what topics you would like to see covered in BM$ Success Newsletter. Friends of Business Money Source offer you additional resources to enhance your business and your lifestyle. Please see classifieds below: Please feel free to contact me by the methods listed below, with any questions that you may have about the various loan programs offered by Business Money Source, LLC. I look forward to assisting you or your clients in acquiring the business financing that you seeking. Sincerely, 
Jim Bullock, Managing Member Business Money Source, LLC
jim@business-money-source.com (804) 396-3040 Fax: (804) 781-4971 Twitter: bizmoneysource Facebook.com/businessmoneysourcellc Friends of Business Money SourceAdditional resources to enhance your business and your lifestyle:-------------------------------------------------------- AfroCityTours Provides inspirational, informational and business oriented tours and workshops, highlighting attributes of the African Diaspora. Our services offer fresh perspectives and engage clients for learning, cultural enjoyment and to influence a better world. www.afrocitytours.com / Email:afrocitytours@gmail.com ------------------------------------------------------------ Capricorn City - The Hangout For Writers and StoryTellers Do you have a story to tell? Like to write poetry? Do you enjoy or would like to review music, movies, or television shows? Interested in getting your works published? www.capricorncity.com is the perfect place to get your work seen by readers around the world. Please feel free to contact James Bullock at jabfas@gmail.com if you have a desire to let the world discover you. ------------------------------------------------------------ Financial Wellness Workshop Telephone Conference - Making A Difference In Your Community FREE, National Community Outreach - Dial-in (559) 546-1200 PIN: 328002890# - From Your Landline or Cell, All 50 States Personal Financial Education and Wealth Building Schedule: Every Tues: 6:00 pm - 6:30 pm (PST) 9:00 pm - 9:30 PM (EST) Every Saturday: 9:00 am - 9:30 am (PST) 12:00 pm - 12:30 pm (EST) 3 - Week Series, Rotating Schedule until January 2016 Debt-Free Lifestyle, Income Surplus Mortgage Payoff 7 - 15 yrs, Education Planning For Your Kids Retirement With 3-4 Income Streams - Other Financial Concerns & Goals The Power of One: Invite one more person to join you. First 50 callers in each workshop will receive Special Gift Contact Judith McCaskill Robinson (831) 444-5478 or www.smartdecisions.info, Community Volunteer since October 20, 2014 ------------------------------------------------------------ Just Rydin' Magazine -I am just rydin' A comprehensive online magazine dedicated to the pleasures and safety in motorcycle riding Sponsor of community service events to educate children in the safe operation of bicycles & mopeds. Contact Marie Cammock Payne for advertising and subscription opportunities: mjcammo@yahoo.com ------------------------------------------------------------ Professional Web Design At HRichNetworks, LLC We offer professional, custom, high quality web design services. All of our websites are custom designed to meet every client's needs and requirements. From complex dynamic web applications to simple professional business websites, we do it all at an affordable price. Call us today for a no-obligation quote - 804.447.4312 www.hrichnetworks.com, P. O. Box 74083 N Chesterfield, VA 23236 804.447.4312 ------------------------------------------------------------ Vickie's Art - Step Into My World And Enjoy The Scenery Specializing in water color paintings on a variety of canvases, including murals and stage play backdrops Visit our galleries to view samples at www.vickiesart.com Add a piece of Vickie's timeless art to your collection. vickielb312@gmail.com ------------------------------------------------------------
Let us know what topics you would like to see covered in BM$ Success Newsletter. Advertise Your Business in BM$ SuccessYou as a subscriber are invited to give your business free online exposure. Free advertising just for the asking! Just send a brief description of your business and the products or service you offer. State whether you are local to a specific region or a national or international company. We will place your info in the next issue of BM$ Success. Don’t forget your contact info or to spell check your ad!Send your ad info to: info@business-money-source.com Any Questions: Let us know what topics you would like to see covered in BM$ Success Newsletter. Be sure to check business money news page daily on business-money-source.com for updates. Also friend us on Facebook and follow us on Twitter! Until next month! Sincerely, Jim Bullock Business Money Source, LLC P.O. Box 16096 Richmond, VA 23222 (804) 396-3040 “Your One Stop Online Business Information Source” www.business- money-source.com Twitter: @bizmoneysource https://www.facebook.com/BusinessMoneySourceLLC Disclaimer: The content contained in the BM$ Success Newsletter is provided for informational purposes only. It is incumbent upon the user of the information to seek appropriate financial and/or legal counsel before entering into any financial transaction. Business-Money-Source, LLC nor its' principals are in no way liable for your financial transactions. See the “Disclaimer” and "Terms of Use and Privacy Policy" pages on the Business Money Source website for further explanation.
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