Most people borrow money at some point in their lives, but many may not realize that having the right kind of debt – and paying it off as promised – can show money management smarts rather than poor spending habits. Here’s how to sort the good from the bad when it comes to owing money.
What is good debt?
Think of good debt as an essential element to making substantial purchases you can’t otherwise afford now but should help you produce value later, such as paying for coll... [More]
So, you've decided that it's time to start your own business - that you no longer wish to work for "the man" as they say. You have your product or idea, you have your goals and objectives outlined in the form of a working business plan, you've formed your company legally with the state you plan to operate in, you’ve obtained your Federal Tax ID number and now you’re all ready to roll. But wait, we have forgotten one all important step in the process. The most important step perhaps. ... [More]
There have been many articles written on the topic of the “Personal Guarantee” as it relates to commercial loans. Traditionally, when a business owner comes to a bank requesting a commercial loan, one of the requirements is the owner’s Personal Guarantee. In a nutshell, the bank wants the owner’s promise that if the business fails to generate enough income to repay the loan, the owner(s) will step up and make sure the obligation is satisfied.