Mel feller shows how to be a small business or real estate lender by mel feller
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Mel Feller Shows How to Be a Small Business or Real Estate Lender by Mel Feller Mel Feller understands that banks are the most common form of small business lenders because banks hold a large amount of capital. Investment firms and large corporations are also typical small business lenders. However, Mel Feller also understands that business loans may be separated into two categories: straight loans, where the lender earns back only the principal (the amount loaned), as well as interest and investment loans, where the lender earns back some of the money made from the loan. The second type of loan is a security that falls under the blanket category of investment contracts. Therefore, Mel Feller lays out the steps that are need to create your business.
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Mel feller shows how to be a small business or real estate lender by mel feller
- 1. Mel FellerShowsHow to Be a Small Business or Real Estate Lenderby Mel Feller Mel Fellerunderstandsthatbanksare the mostcommonform of small businesslendersbecause banks holda large amountof capital.Investmentfirmsandlarge corporationsare alsotypical small business lenders. However,Mel Felleralsounderstandsthatbusinessloansmaybe separated intotwo categories:straightloans,where the lenderearnsbackonlythe principal (the amountloaned),aswell as interestandinvestmentloans,where the lenderearnsbacksome of the moneymade fromthe loan. The secondtype of loanisa securitythat fallsunderthe blanketcategoryof investmentcontracts. Therefore,Mel Fellerlaysoutthe stepsthatare needtocreate your business. First, forma legal business.Typesof legal businessformsincludesole proprietorships,partnerships, limited-liabilitycompaniesandcorporations.Eachtype of companyhas specificformstofill outandfile withthe government. Second,raise enoughfundstolend.How much youlenddependsonhow muchcapital youamass.Small businessloansmaybe modest,suchas$500 or $1000 to buyequipmentormake moderate repairs. However,largerloanscanbe hundredsof thousandsof dollarsormore. Third, setan interestrate,whichisthe percentof the loanthat the borrowerpaysto the lenderforthe use of the money.Dependingonthe specificsituation,the governmentmaysetthe loan’sinterestrate, or you maybe able toset yourowninterestrate.Generally,small businesseswithhighrisksof nonpaymentreceive higherinterestrates. Fourth, determineaschedule forrepayment.Youdecide whetherthe borrowerneedstopaybacka specificamounteveryweekormonth,orwhetherhe paysback the total loan amountwhenhe hasthe funds. Fifth,create a contract.Include the interestrate,the repaymentschedule andconsequencesif the small businessfailstorepaythe loan.Youmaywant to have a lawyerlookoverthe contract before bothyou and the small businessownersignit. Sixth,transferthe funds.You can transferthe fundselectronicallyfromyourbankaccount to the small business’sbankaccount,oryoucan write a check.
- 2. Seventh, monitorthe loanrepayment.Ensure thatthe small businessisrepayingaccordingtothe schedule recordedinthe contract. Finally,collectondefaultedloans.You’ll needawayto recoupyourfundsif the small businessfailsto repayon time (knownasgoingintoarrears) or failstopay altogether(knownasgoingintodefault).You may attemptto collectityourself,hireacollectionagencyorsell the loantoanotherlenderwhois more able to attemptcollection. WHO IS MEL FELLER AND WHAT ARE HIS SKILL SETS Mel Fellerisacertifiedexecutivecoachandconsultantforleaderswhoneedtoachieve significant personal andorganizational results. One of Mel Feller’sexpertise,insightsandengagingstyle helpshisclientsgainwisdomandclarity,which resultin: Executiveswholeadmore effectively Teamsthat seektocommunicate andcollaborate,and Organizationsthatare alignedwithbusinessstrategy Mel Fellerhasoverthree decadesof coachingandconsultingexperience indiverse industries,which providesarich frameworkforhisorganizational insightsandcreative solutions.Ibringsa thoughtful approach to hiswork,carefullyintegratingbothmycoachingandconsultingskillsandabilities.When consulting,myfocusison“what youare doing”(i.e.,goal setting,problemsolving,takingactionand achievingresults).Whencoaching,myfocusison“whoyou are being”(i.e.,how youare leading, aligningyourvaluesandtappingyourgifts).Asaclient,theybecome more consciouslyaware of how payingattentionto – and balancingboth – are criticallyimportanttotheirsuccess. Whenyoucombine Mel Feller’skeeninsightsandengagingstylewithhisin-depthskills,technical certificationsandbroadindustryexperience,the resultisauniquelyqualifiedexecutive coachand organizational consultant. So...whatkindof coach are you?" I getthis questionalot.Moreover,the answeris…Iam a Life Coach,Executive Coach,CareerCoach,and BusinessCoach.Icoach teens,businessexecutives,authors,artists,entrepreneurs,retiredseniors,busy momsand entire organizations.
- 3. “Truth telling,honesty,andcandor:IlovedyouMel Feller!Youhave somuch energyandknowledge!I trulyhope I getanotheropportunitytobe coachedby you.I see myself alittle clearernow,andit’snot so bad.” Lisa Mathews “Mel Felleryouaddedmore value thanwe canpossiblysee rightnow.Mel Feller,youare warm, inviting,andaccommodating.Thankyouforcomingalongside usinthistransition!” VanessaCavanaugh “Mel Fellerthe besteducationsessionthatwe have attendedinmanyyears!Thankyousomuch — I am veryexcitedtoputeverythingyouhave taughtusintopractice!” Michael Randolph “Mr. Mel Feller,Thankyou,thankyou,thankyoufor givinga marvelouskeynote atourSymposium! While we have notyetcollectedthe official feedback,the unofficialfeedbackwasthatYou Were a Hit! I heardnothingbutcomplimentsregardingyourpresentations.Thankyouformakingsucha positive impacton our attendees!” Lyle CunninghamVP "Mel Felleruseshishumor,compassion,anddirectnature tohelpbringoutthe bestinme.Mel Felleris committedtohelpingme live...Imean,reallylive,life toitsfullest." Jose Rodriguez Mel FellerLinks https://www.instagram.com/mel.feller https://ourmrmel.tumblr.com/ https://www.pinterest.com/cfs360/ https://twitter.com/melfeller/following