How to Find the Money for Your  Home-Based Travel Agency
How, and Where to Get Money for  Your Home-Based Travel Agency  <ul><li>         Understanding the Borrowing Process </li...
Understanding the Borrowing Process <ul><li>The lender puts money into your hands in the form of a loan.  You use this mon...
How much money Do You Need? <ul><li>Monthly maintenance charge </li></ul><ul><li>Advertising (offered in my other class) <...
Prepare a Executive Summary  Telling What You’ll Do. <ul><li>Ask yourself these questions: </li></ul><ul><li>1.     What t...
Loans by the Dozen – Take your Pick <ul><li>          No Income-Verification Loans </li></ul><ul><li>          Fast-Turn...
There are plenty of lenders who say: <ul><li>          Bad Credit?  NO Problem! </li></ul><ul><li>          Bankruptcy-N...
Keys to Getting Your Loan Quickly   <ul><li>1.        Apply to the right type of lender. </li></ul><ul><li>2.        Seek ...
Be Ready to Get Your Loan   <ul><li>Buy a going “Home-Based Travel Agency” </li></ul><ul><li>Start a new “Home-Based Trave...
Lenders look for three characteristics in each loan deal : <ul><li>Capacity </li></ul><ul><li>Collateral </li></ul><ul><li...
Use the Power of the Printed Word   <ul><li>LOAN NEEDED  to buy successful …………business.  Monthly repayment will return yo...
Each does the same job,  but in different ways   <ul><li>A  cosigner  agrees to repay your loan in the event you are unabl...
To get a cosigner, use the power of the printed word and run an ad in your local paper listing: <ul><li>  COSIGNER NEEDED ...
Put Your Telephone to Work <ul><li>How do loans by phone work? </li></ul><ul><li>They depend on the following information:...
Get Credit Card Loans   <ul><li>Although the interest rate may be higher, the money from a credit card loan is just as pow...
Apply with Many Different Lenders <ul><li>          Each loan is smaller </li></ul><ul><li>          The more loans you ...
Go to Uncle Sam---He’ll Help   <ul><li>Small Business Administration  </li></ul><ul><li>(SBA)  </li></ul>
Seventeen Sources of money for your Home-Based Travel Agency <ul><li>1. Credit Card line of credit  </li></ul><ul><li>2. U...
Seventeen Sources of money for your Home-Based Travel Agency <ul><li>7.        Loan from a relative, friend or business   ...
Seventeen Sources of money for your Home-Based Travel Agency <ul><li>13.  Grants  </li></ul><ul><li>14.  Export-business l...
<ul><li>Now go out and apply for  </li></ul><ul><li>a loan, do it today!  </li></ul>
Ppt Financing
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Financing your new Travel Business

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Ppt Financing

  1. 1. How to Find the Money for Your Home-Based Travel Agency
  2. 2. How, and Where to Get Money for Your Home-Based Travel Agency <ul><li>        Understanding the Borrowing Process </li></ul><ul><li>        How Much Do You Need? </li></ul><ul><li>        Prepare an Executive Summary </li></ul><ul><li>        Loans by the Dozen ---Take your Pick </li></ul><ul><li>        Keys to Getting Your Loan Quickly </li></ul><ul><li>        Be Ready to Get Your Loan </li></ul><ul><li>        Use the Power of the Printed Word </li></ul><ul><li>        Put Your Telephone to Work </li></ul><ul><li>        Get Credit Card Loans Fast </li></ul><ul><li>        Explore Credit Union Loans </li></ul><ul><li>        Apply with Many Different Lenders </li></ul><ul><li>        Go to Uncle Sam---He’ll Help   </li></ul>Plus ---- Seventeen Sources of Money for your Home-Based Travel Agency
  3. 3. Understanding the Borrowing Process <ul><li>The lender puts money into your hands in the form of a loan. You use this money to start your “Home-Based Travel Agency”. This venture earns money, part of which is profit. From this profit you take a share for yourself. Part of the remaining profit you use to repay the loan that allowed you to buy or start your home business. </li></ul>
  4. 4. How much money Do You Need? <ul><li>Monthly maintenance charge </li></ul><ul><li>Advertising (offered in my other class) </li></ul><ul><li>Insurance </li></ul><ul><li>Utilities </li></ul><ul><li>Incorporation fees </li></ul><ul><li>Registration fee </li></ul><ul><li>Business license </li></ul><ul><li>DBA charge </li></ul>Your monthly bills to operate: Office rent Computers Phone bill Fax machine Xerox copier Printer Paper, DSL charge, Home-Based program initial start-up cost (1 time only)
  5. 5. Prepare a Executive Summary Telling What You’ll Do. <ul><li>Ask yourself these questions: </li></ul><ul><li>1.     What type of travel do you want to specialize in? </li></ul><ul><li>2.    How to you plan to do this? </li></ul><ul><li>3. Do you have a marketing and advertising </li></ul><ul><li>plan, in writing? </li></ul>
  6. 6. Loans by the Dozen – Take your Pick <ul><li>         No Income-Verification Loans </li></ul><ul><li>         Fast-Turnaround Fixed Rate Mortgages </li></ul><ul><li>         Private Mortgage Money Available </li></ul><ul><li>         100% Insider financing </li></ul><ul><li>         How to take the hassle out of business loans </li></ul><ul><li>         Jumbo money available </li></ul><ul><li>         SOHO loans (Small office/home office loans) </li></ul><ul><li>         Bankruptcy, late pays no problem </li></ul>
  7. 7. There are plenty of lenders who say: <ul><li>         Bad Credit? NO Problem! </li></ul><ul><li>         Bankruptcy-NO Problem! </li></ul><ul><li>         No Income Check, Ever </li></ul><ul><li>         No Job Verification Needed </li></ul>
  8. 8. Keys to Getting Your Loan Quickly <ul><li>1.       Apply to the right type of lender. </li></ul><ul><li>2.       Seek a loan in the lenders range. </li></ul><ul><li>3.       Type your loan application </li></ul><ul><li>4.       Don’t tell the lender “Time is of the essence” </li></ul><ul><li>5.       Don’t “bug” the lender with constant phone calls asking when you’ll get the money </li></ul><ul><li>6.      Keep “hunger” out of the application </li></ul>
  9. 9. Be Ready to Get Your Loan <ul><li>Buy a going “Home-Based Travel Agency” </li></ul><ul><li>Start a new “Home-Based Travel Agency” </li></ul><ul><li>Expand an existing ‘Home-Based Travel Agency Save a nearly failed “Home-Based Travel Agency” </li></ul>
  10. 10. Lenders look for three characteristics in each loan deal : <ul><li>Capacity </li></ul><ul><li>Collateral </li></ul><ul><li>Character </li></ul>
  11. 11. Use the Power of the Printed Word <ul><li>LOAN NEEDED to buy successful …………business. Monthly repayment will return your $35,000 loan in three years are 12% interest Call 123-4567 </li></ul><ul><li>$50,000 LOAN NEEDED to start home-based business. Collateral available Call 123-4567 </li></ul><ul><li>I NEED $250,000 to expand my growing home-based business Good collateral offered Call 123-4567 </li></ul>
  12. 12. Each does the same job, but in different ways <ul><li>A cosigner agrees to repay your loan in the event you are unable to do so. </li></ul><ul><li>A co maker is really a co borrower . The co maker is equally liable to repay your loan. </li></ul><ul><li>A guarantor guarantees that the loan will be repaid. The guarantor pledges some collateral that lender the loan will be repaid. </li></ul>
  13. 13. To get a cosigner, use the power of the printed word and run an ad in your local paper listing: <ul><li>  COSIGNER NEEDED for $50,000 home-based business loan. Will pay liberal fee to cosigner after loan is obtained Call 123-4567 </li></ul><ul><li>CAN SHOW BIG PROFIT on $100,000 home-based business loan Will share with cosigner who helps get loan Call 123-4567 </li></ul>
  14. 14. Put Your Telephone to Work <ul><li>How do loans by phone work? </li></ul><ul><li>They depend on the following information: </li></ul><ul><li>         Type of loan you seek </li></ul><ul><li>         Amount of money you need </li></ul><ul><li>         Length of time for which you need the money </li></ul><ul><li>         Your income and expense </li></ul>
  15. 15. Get Credit Card Loans <ul><li>Although the interest rate may be higher, the money from a credit card loan is just as powerful as any other borrowed money. </li></ul>
  16. 16. Apply with Many Different Lenders <ul><li>         Each loan is smaller </li></ul><ul><li>         The more loans you get, the more money you have to build your business </li></ul><ul><li>         Having several loans will make you a more ambitious business person </li></ul><ul><li>         Managing the payments on several loans at once will make you be a much better manager </li></ul>
  17. 17. Go to Uncle Sam---He’ll Help <ul><li>Small Business Administration </li></ul><ul><li>(SBA) </li></ul>
  18. 18. Seventeen Sources of money for your Home-Based Travel Agency <ul><li>1. Credit Card line of credit </li></ul><ul><li>2. Unsecured line of credit </li></ul><ul><li>3. Personal line of credit </li></ul><ul><li>4. SBA guaranteed loan </li></ul><ul><li>5. Loan from a local development company </li></ul><ul><li>6. Micro-loan from lenders </li></ul>
  19. 19. Seventeen Sources of money for your Home-Based Travel Agency <ul><li>7.       Loan from a relative, friend or business associate </li></ul><ul><li>8.      Inventory start up or other type of loan </li></ul><ul><li>9.       Accounts receivable financing </li></ul><ul><li>10. Home equity loan </li></ul><ul><li>11. Private-lender loan </li></ul><ul><li>12. Venture-capital money </li></ul>
  20. 20. Seventeen Sources of money for your Home-Based Travel Agency <ul><li>13. Grants </li></ul><ul><li>14. Export-business loans </li></ul><ul><li>15. Small business development center (SBDC) </li></ul><ul><li>16. Small business investment company loans </li></ul><ul><li>17. Go public using new small company offers known as ULOR </li></ul><ul><ul><ul><li>– Uniform Limited Offering Registration. </li></ul></ul></ul>
  21. 21. <ul><li>Now go out and apply for </li></ul><ul><li>a loan, do it today! </li></ul>

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