Charlie asks…
I need a business loan but my credit has been dameged?
I have a great business in a growing location but divorce has hurt my credit and i need some more cash flow to increase my sales
author answers:
When you get a business loan, they dont look at your personal credit. They look at your business credit. It needs to have been running for at least 2 years, and Im not sure of the other criteria, but call a bank and ask.
So YOUR credit does NOT matter when applying for a business loan:)
Graham asks…
I need a name for my probate company? ALSO do you like my tagline? Even if theres no will, theres still a way?
I have been doing a lot of work on my own the last 10 years and have stayed in business (which is hard to do, lol))) and although i am still in business, I need more cash flow. Just paying the bills is not enough. So I thought I would expand my business a little more and reach out to others.
I use an attorney, and what I would do, is help direct people through the judicial system to help them gain title to the home of a relative (gma or gpa, parent, etc) that has passed but left no will, and need to take it through court, SIMILAR to probate =) [although its not probate].
Ive been really stumped with a name, i’ve gone through several. What I am considering right now is:
Southern California – Real Estate Solutions:
Tagline= Even if theres no will, theres still a way! (with or without exclamation point?)
So what do you think about the name/tagline….?
Any better way to word it? or can you think of a better business name? I know its kind of long, but on the business card, i’ll make it so it looks good….but im open to names ive only had that one for a few days now ;X
THANKS! Everyone gets a thumbs up point, and best answer ASAP!!!
author answers:
I agree with IDontKnow.
What you are describing sounds a lot like the unauthorized practice of law.
If you are working under the supervision of an attorney, then you can call yourself a paralegal.
If you are working independently, in California, you must call yourself a Legal Document Assistant, and any advertisements, bills, proposals, contracts, statements must explicitly state that you are not an attorney, and that you can only provide self-help assistance at your client’s direction.
In other words, you cannot provide any legal advice.
Also, you can only provide information that is generally publicly available.
In addition, under the California Business and Professional Code, all Legal Document Assistants must register at the Recorder’s Office in the County where they intend to conduct business, and they must provide proof that they completed a minimum of 60 semester units of paralegal studies, and that you possess a $25,000 bond of indemnity against errors and omissions.
I do not want to discourage you. You should first consult with an attorney about what does and does not constitute the unauthorized practice of law.
Mike asks…
We are in the process of buying a business. What is the banks requiremnets to obtain the loan?
The loan amt is quite large, what we would like to know is how much cash flow would be expected on the loan amt and how is the collateral based . I know that we would be reuired to bring in a certain amt of revenue but would like more info from someone a little more experiences in this. How do we base a salary for the employess who will be working for us. It is going to be owned and operated by myself and my husband how do we base a salary on us being the sole oweners? Right now we are at the point of the bank needing more cash flow what does this mean?
author answers:
If the bank need more cash flow, they don’t think you make enough money to be able to repay the loan.
You would have to either make more money
or spend less in outgoing.
I’d try to come up with a good buisness plan that shows them in a realistic way how you intend to grow, and or cut costs.
Where I work, salaries are based on 48 hours a week,
( sometimes they work more or less, but they get paid for 48 averagehours)
and then the hourly rate would just be similar to what others in the same kinda jobs in your area
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