bouncing ball – medium weight
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Commercial Finance- Hard Money
The Merriam- Webster Online Dictionary defines hard as:
“1 a: not easily penetrated: not easily yielding to pressure b of cheese: not capable of being spread: very firm
2 a: of liquor (1): having a harsh or acid taste (2): strongly alcoholic b: characterized by the presence of salts (as of calcium or magnesium) that prevents lathering with soap
3 a: of or relating to radiation of relatively high penetrating power: having high energy b: having or producing relatively great photographic contrast
4 a: metallic as distinct from paper b: of currency: convertible into gold: stable in value c: usable as currency d: of currency: readily acceptable in international trade e: being high and firm
5 a: firmly and closely twisted b: having a smooth close napless finish
6 a: physically fit b: resistant to stress or disease c: free of weakness or defects
7 a (1): firm definite (2): not speculative or conjectural: factual (3): important or informative rather than sensational or entertaining b: close searching c: free from sentimentality or illusion: realistic d: lacking in responsiveness: obdurate unfeeling
8 a (1): difficult to bear or endure (2): oppressive inequitable b (1): lacking consideration, compassion, or gentleness : callous (2): incorrigible tough c (1): harsh, severe, or offensive in tendency or effect (2): resentful (3): strict unrelenting d: inclement e (1): intense in force, manner, or degree (2): demanding the exertion of energy : calling for stamina and endurance (3): performing or carrying on with great energy, intensity, or persistence f: most unyielding or thoroughgoing
9 a: characterized by sharp or harsh outline, rigid execution, and stiff drawing b: sharply defined: stark c: lacking in shading, delicacy, or resonance d: sounding as in arcing and geese respectively —used of c and g e: suggestive of toughness or insensitivity
10 a (1): difficult to accomplish or resolve: troublesome (2): difficult to comprehend or explain b: having difficulty in doing something c: difficult to magnetize or demagnetize
11: being at once addictive and gravely detrimental to health
12: resistant to biodegradation
13: being, schooled in, or using the methods of the natural sciences and especially of the physical sciences
14: of money: contributed (as by individuals or political action committees) directly to a particular candidate or campaign
Synonyms: hard difficult arduous mean demanding great exertion or effort. Hard implies the opposite of all that is easy . Difficult implies the presence of obstacles to be surmounted or puzzles to be resolved and suggests the need of skill, patience, or courage . Arduous stresses the need of laborious and persevering exertion .”
As used in this article, hard money is intended to convey the idea that because of the current economic conditions, many financing needs will be more difficult to accomplish. They will require great exertion and effort to overcome the economic obstacles of the current economy. Compared to 2006 and 2007, periods of relatively easy money, to obtain financing today you will have to have firm, definite facts to support your financing needs. And the cost of money will be more difficult to bear. Hard money is harder to find, harder to obtain and harder to repay. Nevertheless, hard money may be an economic necessity as a means to an end to grow a business or complete a real estate transaction.
Why is 2008 a time of hard money? This is a difficult question to answer. If you ask 3 experts you probably will get three different answers. It may be the economic equivalent of The Perfect Storm- a True Story of Men against the Sea. The phrase perfect storm refers to the simultaneous occurrence of events which, taken individually, probably would be far less powerful than the result of their rare combination. These occurrences are rare by their very nature, so that even a slight change in any one event contributing to the perfect storm would lessen its overall impact. The stock market crash of 1929 and following depression exemplifies a perfect storm of economic consequence.
What are these events today? 1) The Mortgage Melt-down. Major financial institutions in the United States are incurring billions of dollars in losses due to the loss in valuation of their investments in mortgage securities. The consequence for borrowers is that these institutions are less inclined to take risks when loaning money for fear of additional losses. And their regulators are demanding that regulated lenders raise their credit standards for borrowers to qualify for a loan. 2) The devaluation of the American dollar versus other world currencies. The U.S. government is spending ginormous amounts of money in excess of what it collect in revenue due to the political compulsion to spend taxpayers’ money, the war in Iraq, Hurricane Katrina (and other natural disasters) and the war on terrorism. This makes our currency less valuable. It makes importing to the U.S. more expensive. The American people have less money to spend on goods and services, and their money buys less than it did a year ago because prices of necessities such as gasoline are higher. 3) The current tendency of Federal and State governments to reduce funding for social services, health services and education because of inadequate revenues; this hurts individuals and businesses who have less money to spend on products and services which creates additional drags on our economy. 4) The diminishing value of residential real estate all across the United States. This is related to the mortgage meltdown and the fact that many people incurred debts that they cannot repay. The real causes of these events are complicated and beyond the scope of this article. Suffice it to say that these are hard times and hard times create needs for hard money loans.
What exactly is hard money? Here are seven examples:
1) A commercial real estate loan where the borrower receives funds based on the value of the property, usually 50% or less, at an interest rate higher than a bank would charge. This is the most commonly understood type of hard money. In this financing, neither the income from the property or the borrower demonstrably supports the repayment of the loan.
2) A real estate loan to buy a residential property where the borrower cannot prove their income. This may be accomplished with financing from a seller, the only party willing to take the risk of non-payment.
3) A small junior lien on income producing commercial real estate where the first lien is very large. For example, a million dollar second lien behind a ten million dollar first lien. Most lenders simply do not want to consider a loan of this type because of the potential liability for repayment of the first lien. It is ten times the risk of the secondary loan.
4) Most loans to people with less than excellent credit. Many loans are based on credit scoring. If you do not have a credit score that is high enough for the lender’s requirement, you simply do not get their loan and you may or may not be able to find a hard money loan to accomplish your objective.
5) Accounts receivable financing to construction contractors, medical providers and sellers of agricultural products. Most factors do not offer to these sectors of the economy because of the risks and complexities that are involved.
6) Purchase order financing for items with gross margins less than twenty percent. The twenty percent margin is a benchmark for sufficient profitability in a transaction to pay all financing costs and create profits for the business after all costs are paid. During hard economic times margins are squeezed. It is a vicious cycle.
7) Loans to businesses that are particularly negatively affected by the current economy. For instance, a loan to build a new lumberyard is impacted by the downturn in new real estate construction and a lower need for lumber. Most banks would simply decline to consider such a loan. The same is true for developers seeking to build new housing tracts or office building developments. This is not a good time to try to start a new mortgage brokerage company; although it may be a good time to be a hard money lender provided that you are very, very careful in assessing your transactional risks.
What do all of these situations have in common? In times of easy money these situations would be less costly to finance and more likely to receive funding. Today, the lender’s answer to your request for funding is more likely to be a polite but strong “no way”. Many lenders have effectively (if not actually) shut their doors. Many lenders will simply decline to lend on hotels/motels, gas stations, owner/user properties, properties with any environmental issues. Borrowers who do not have FICO credit scores above 680, with substantial net worth and income will find it is very difficult to obtain many types of loans. Fortunately, the door for accounts receivable financing is still wide open.
The bottom line: Hard times in our economy will tend to force more individuals and businesses to borrow hard money- if they are able to get any money at all. Commercial financing with hard money will tend to grow as traditional sources of financing from banks and institutional lenders simply will not be available.
Copyright © 2008 Gregg Financial Services
www.greggfinancialservices.com
About the Author
Mr. Elberg is a licensed attorney and licensed real estate broker. Gregg Financial Services is a full service brokerage for commercial finance companies and banks that fund B2B businesses. We work with all industries and can arrange financing transactions throughout the US and Canada, Mexico, Australia, India and several areas of Europe including the UK, Ireland, France, and Poland. Mr. Elberg arranges funding from $25,000 to $50 million per month at competitive pricing, and works to reduce your financing costs as your company grows. For more information about GFS, please call 888 482 9221 or visit our website: http://www.greggfinancialservices.com
ZI-VA Flour Commercial (Parody of “True Romance”)
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What ingrediants style restaurant does not need a 16 "pepperoni pizza?
I want to know how to win restaurants in its "pizza pepperoni 16 … Is there an industry standard, they all use?
Usually, two handfuls of mozzarella cheese is about 12 ounces cheese, pepperoni pizza should cover about 1 slice of 2 inches. There is a great recipe for pizza dough and supplies: http://www.chefdepot.net/pizzamaking.htm
Chicken Curry Recipe: Restaurant Style Chicken Jalfrezi; Shaan Khan, New Indian Cuisine
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What are access panels and what are they used for?
What are they?
Access Panels (also known as access hatches or access doors) are designed to provide safe openings in ceilings, walls and floors to allow access to building engineering services such as pipes, cables, air conditioning systems etc. Standard access panels are generally hinged, made of plastic or metal and discreet in colour and design in order to blend in with existing interior decor. They come in a variety of sizes, and can be custom made to fit specific needs, if required.
Access Panels come with one of two standard frame options :
1. A beaded Frame with a perforated flange to key into the surrounding membrane – suitable for situations where the surface has yet to be finished
2. A Picture Frame Type where the solid flange sits on the surface of the wall or ceiling and covers the cut edge of the hole – the best option where the surface has already been finished.
Round Access Panels
With city office interiors becoming increasingly contemporary and design-led, the need for more design-led access panels has increased. Round access panels have consequently become more popular, with the circular outline blending in with other architectural fittings.
Access Panel materials
Access panels can be made from a variety of different materials depending on the job they are required to do, and where they will be located.
Plastic Access Panels
Plastic access panels are a high quality, low cost option for access to maintenance services in ceilings and walls. Plastic panels are usually used for domestic situation to provide access to stop cocks and plumbing. Because plastic is light in weight these panels can be easily fitted to walls and ceilings.
Wooden Access Panels
Historically wood was the preferred material for access panels due to its flexibility, affordability and workability. The fact that wood can easily be painted over was another big plus. These days, wooden access panels are increasingly rare, in part due to the availability of cheaper materials such as plastic but more due to their poor performance in fires.
Metal Access panels
In industrial/commercial situations metal is the preferred access panel material due to its strength, durability and fire resistance – see fire rated access panels.
Fire Rated Access Panels
Fire rated access panels/doors are typically rated for fire resistance. This means the duration for which a passive fire protection system can withstand a standard fire endurance test. Fire resistance is usually quantified in time eg. 2 hours fire rated
For obvious reasons Fire Rated access panels are almost exclusively made from metal, the thickness of which will depend on its fire rating ie. 1 hour fire rated will be thinner than 2 hour fire rated.
Fire rating does not usually affect the appearance of access panels, and the clever design enables most to be fire rated without using heavyweight layers of plasterboard which effect performance. This ensures that the panels are easier to use in ceilings where heavier panels can be dangerous to operate.
About the Author
COMIC CON 2008: The Office Panel PART ONE
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Who should go tonight?
I'm far from my favorite Italian restaurant – Penne Arrabiata and garlic bread and cheese for a good drink pizza bottle of white wine! If you have a night – What's wrong?
Me would have liked to go but not my money until I pay on Monday, has been a long month, a nation to make my money stretch so I'll have fish sticks with mashed peas and mashed potatoes.
Betty’s Italian Bread Pizza–Sausage and Pepperoni Recipe
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Table cloths?
I need about 15 really really cheap tablecloths, like under 10$ a peice. anywhere in San Diego- no vinyl or plastic- only linen or cotton or polyester or something more formal. Please help fast!!
It may be tough to find a cloth table cloth for under $10 each. Even Walmart and Target is going to run you $15 or more. You might try something like Big Lots or the dollar stores and see if they might have something you like that is cheap. The Good Will, Salvation Army or other thrift store might have something.
Have you tried borrowing them from your church or a local VFW Hall?
You can probably rent them for less than $10. Check out local party rental places in San Diego or online like the one listed below. http://www.rentmagic.com/tcs.htm rents banquet size table cloths for $4.25 each. Then you wouldn’t have to clean them either.
You might be able to get inexpensive bed sheets and cut and hem them to the size you need. They probably won’t be as thick as a tablecloth, but you stand a better chance of finding them at lower prices.
French Tablecloths: Coated Tablecloths Versus Cotton Tablecloths
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Pizza 73 Calgary
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Does anyone know how to make a ICEE or an ice cream cone. I love you and want to create my own home.?
SNOW CONE SYRUP-2 c. sugar 3 / 4 C. 1 package of water. Unsweetened Kool-Aid Bring sugar and water to a boil. Delete, add Kool-Aid. Cool. Refrigerate until serving. Pour over shaved or crushed ice.
minature slushie/icee/snow cone
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Unique perspective Helps photographer's work NEW BRITAIN – When you glance at a photograph, What Comes to Mind? More Often Than Not it's the content of the photo.
The Curve That To An Angle Turn’d
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Crowd control, so what controls unbelievers?
I have repeatedly read on this site that religion is nothing more than a means of “crowd control of the masses”. The Roman empire would disagree with you, they used military force. If religion controls the believer, what controls the atheists?Do you all just do your own thing? Is this the freedom you speak about with such verbosity?
We control ourselves. Being Atheist doesn’t mean being immoral. There are plenty of those that are immoral to go around in every group. Personally, I simply try to be the best person I can be. I’m only in control of me and try to treat others as I would like them to treat me. Sometimes it works, sometimes not, but I’m just as likely to be treated badly by a religious person as an Atheist. That’s just the sorry state of affairs that exists. Worry about yourself first and the way you treat others. If everyone did that it would be a much better world.
South African police trained in crowd control techniques
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