Bridge Loans: A Good Option to Raise Money for a Short Term Period

Everyone faces a shortage of money in their life. It does not matter if someone is in business or any other profession, the need for urgent money can arrive anytime. In business, especially, the need for money can come anytime and the urgency to collect or call some fixed amount makes the businessmen choose for Bridge loans.

Bridge loans are short-term loans given for urgent needs to a businessman or any other person who is in need of money. It is given for a period like from three weeks to three years but this period differs from place to place. Bridge loans are also known by the name of swing loans or gap financing. The name itself tells that it is given to 'fill the gap of money requirement. It is generally backed up by the collateral and the rate of interest charged on the loan amount will be higher in comparison to the general loan rate.

Why there is the difference in the interest rate?

The Bridge loan is given at short call and the risk taken by the lender would be higher in comparison to the traditional loan. This type of loan requires some kind of collateral backup so that in case of failure in payment, the lender can sell the mortgage and raise the money. The interest rate would be obviously higher as the risk is also higher.

How to understand it clearly?

Every business requires working capital to finance it's important and must have expenditures like electricity bill, transport charges, payroll and daily expenses. This whole expense can't be delayed or stopped as these are necessary expenditures and without them, the whole business process will come to halt. Therefore, if the management has invested its significant amount on some other important work or the money has been diverted to some non-delaying activity then that working capital can be raised through this Bridge loan. This short-term loan can easily finance all these daily expenditures for an interim period unless some permanent financing is not found out.

In the real estate business, the Bridge loan is given to the person who has a good debt-to-profit ratio. The capacity of the businessmen is taken into consideration strictly. Generally, the Bridge loan is given between the sales of two properties for the interim gap. The amount finances the urgent need and when the payment of first property is done, the requirement of this kind of loan ends.

Conclusion

The Bridge loan is a very important part of financing in the world of business. It solves the problem of urgent need of money and lets the business run without any hiccups. The business faces every now and then shortage of money and it is the solution for that. Before approaching for this kind of loan, one must assure to keep the balance sheet of the company very strong, so that the lender faces no problem in issuing the amount as per standards.

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Car Insurance Costs Are Cut, But It's Not Good News for Everyone

The seemingly never-ending rise in car insurance prices could be coming to a screeching stop thanks to proposed government changes.

New proposals will see a huge U-turn on the rate at which payouts for victims of serious accidents is calculated which is known as the Ogden rate.

The Ogden rate is set to be changed as soon as next year in a bid to provide a "fairer" system.

How does the Ogden rate work?
Set by the government, the Ogden rate is the amount awarded to victims with life-changing injuries after an accident.

The rate had been set at 2.5% which meant that for every £ 1,000 awarded to a victim in a claim, the insurer would pay out £ 975 – with the other 2.5% or the Ogden rate expected to be earned by the claimant through investment interest . This would then give them the full pay out they were due.

In March 2017, the rate was cut to -0.75% or in a monetary sense, insurers would now have to pay victims £ 1,007.50 per £ 1,000 payment.

It was this increase in pay outs that helped cause car insurance prices to hit record highs * in the last 12 months.

What's the latest Ogden rate change?
While a specific date hasn't been announced, the Ministry of Justice have confirmed that they are revising the rules and it's expected that the Ogden rate will be put at 1% from next year.

The changes have been welcomed by insurers as it will reduce the amount they are forced to pay.

Huw Evans of the Association of British Insurers commented on the proposed changes:
"This is a welcome reform proposal to deliver a personal injury discount rate that is fairer for claimants, customers and taxpayers alike."

"If implemented it will help relieve some of the cost pressures on motor and liability insurance in a way that can only benefit customers."

What do these changes mean for drivers?
The last time rates changed it meant an increase in car insurance premiums as insurers passed on the extra costs to drivers.

Now with pay-outs to victims expect to drop, it only makes sense that the savings will be passed on to drivers by reducing the overall cost of their cover.

Changes are not expected to come into effect until next year so it may be some time before these savings can actually be seen on the price of annual insurance.

How will it affect accident victims?
While it's potentially good news drivers, victims of serious accidents who are left with life changing injuries could be short changed.

Instead of receiving the full amount of the awarded pay-out, victims will now once again be expected to invest their money for profit.

While the assumption is that these people will be able to make up the difference comfortably, many have commentated on the unfairness of the new rate.

Speaking to The Mirror, President of the Association of Personal Injury Lawyers, Brett Dixon said:

"Someone

Ranking Homeowners Insurance Companies – The Good, the Bad and the Ugly

How does your homeowners insurance company rank? The one time you don't want to find out they rate at the bottom of the list is when its time to file a claim. Insurance companies are good at taking your premium payment every month, but when it comes to paying out claims some companies rate better than others.

Most of us never think about our homeowners insurance until its time to file a claim. In fact, we can go years of just sending in our premium payments and never even so much as calling up our agent to say hello. Then comes the day when you need to file a claim and you find out that red tape and bureaucracy are the name of the game. Recently this situation played out all too well during Hurricane Katrina where certain homeowners insurance companies fought tooth and nail to keep from paying out claims to victims of this devastating event.

Thankfully there are a number of ways you can find out just how good your insurance company is and if they can do more than just issue a quote without a fight. A number of online and offline resources track insurance company ratings and custom satisfaction scores to help you be a more well-informed consumer.

AM Best (www.ambest.com) is one such source that provides information about the financial health of your homeowners insurance company. They track the ability of insurers to pay for losses in the event of a major disaster. Their rankings are the industry standard for measuring the financial well-being of all property, casualty and life insurance companies.

When it comes to actual consumer satisfaction ratings the data isn't as well-kept as the financial ratings. A number of websites offer consumer feedback on insurance companies as well as reports from policy holders on general insurance company handling of routine inquires. The best source of insurance company satisfaction ratings may come from others in your community who often have first-hand experience with many of the local homeowners insurance companies in your area.

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Personality Traits Of A Good Personal Trainer

Have you been thinking of what career path to follow and you are finding yourself drawn to personal training? What draws you to this profession? What makes you think that you are going to be a great personal trainer? People who are successful at training others in the fitness industry have certain personality traits which make them the best of the best. In order to succeed, you will want to identify if you have some or all of these traits.

The first thing that you are going to need to be an effective and successful personal trainer is being interested in other people. Trainers tend to want to know about people, they are genuinely interested in what makes people tick and this helps them develop a tailored training program that focuses on each individual clients moving forward.

Next you need to have the unique ability to build trust with others and you need to be able to do it quickly. You should be able to gain respect within the shortest period of time and get your clients to trust you and what you do, so that they can start working on their fitness goals and achieving results without delay.

You should have the ability to inspire others around you. In order to really help your clients reach their fitness goals, you should be able to motivate and inspire them. This means living what you preach, so to speak. You need to follow a healthy lifestyle, you need to be fit and you need to be able to show your clients what they can achieve now and in the future.

Further, you need to have a good memory. This means that you will need to remember names, so when you walk past one of your clients in the street or as they enter the gym, you want to be able to greet them by name, make them see you pay attention to them and their success and help them gain confidence in you and what you do.

Being a personal trainer is more than simply pushing your clients throughout each work out, you should also be able to put them at ease. A client using new equipment for the first time or trying to complete a hard work out is going to get stressed and you want to help them complete the task with complete peace of mind, knowing you are on hand when and as they need you.

In addition to this, you need to be completely confidential with your clients, you want to become a confidant. Think of your doctor, they will not share information with anyone and you need to do the same. Your clients need to now that they can trust you and what they tell you during training in confidence should remain private.

Listening skills is imperative to this type of work. It helps you understand your clients and develop a program to help them succeed. Good listening skills can go a long way in ensuring …

Homeowners Insurance Options – What is Good Neighbor Property Damage?

There is a certain type of coverage option that is often included in a standard homeowners insurance policy that many people are not aware of. It is called the good neighbor property damage coverage. For people who have it, and many do, it will provide you terrific protection for damage caused to your neighbors home that you would be considered liable for.

How does it work? Simple. Coverage is provided for damage caused to a neighbors home by you cutting down a tree and having it smash in their fence. Or, coverage is provided if your kids are playing ball in the front yard and a ball goes through a neighbors window. Surprisingly, coverage is provided even if your neighbor can prove that your kids did damage to their home intentionally.

Damage caused to your neighbors house by pets is also covered with this good neighbor property coverage. If your dog chews a hole in their fence or gets into your neighbors home and destroys their carpet or furniture, you are covered.

The amount of coverage provided varies from insurance company to insurance company but most coverage limits are between one thousand dollars and two thousand dollars. The best part about it is there is no deductible that needs to be paid when making a claim. Simply contact your insurance company and explain what happened. Sometimes you will have to come out of pocket to repair the damage, then wait for reimbursement. Other times, the check will be sent out immediately once the damage to your neighbor’s home is assessed.

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Seven Personal Characteristics Of A Good Leader

How often have you heard the comment, “He or she is a born leader?” There are certain characteristics found in some people that seem to naturally put them in a position where they’re looked up to as a leader.

Whether in fact a person is born a leader or develops skills and abilities to become a leader is open for debate. There are some clear characteristics that are found in good leaders. These qualities can be developed or may be naturally part of their personality. Let us explore them further.

SEVEN PERSONAL QUALITIES FOUND IN A GOOD LEADER

1. A good leader has an exemplary character. It is of utmost importance that a leader is trustworthy to lead others. A leader needs to be trusted and be known to live their life with honestly and integrity. A good leader “walks the talk” and in doing so earns the right to have responsibility for others. True authority is born from respect for the good character and trustworthiness of the person who leads.

2. A good leader is enthusiastic about their work or cause and also about their role as leader. People will respond more openly to a person of passion and dedication. Leaders need to be able to be a source of inspiration, and be a motivator towards the required action or cause. Although the responsibilities and roles of a leader may be different, the leader needs to be seen to be part of the team working towards the goal. This kind of leader will not be afraid to roll up their sleeves and get dirty.

3. A good leader is confident. In order to lead and set direction a leader needs to appear confident as a person and in the leadership role. Such a person inspires confidence in others and draws out the trust and best efforts of the team to complete the task well. A leader who conveys confidence towards the proposed objective inspires the best effort from team members.

4. A leader also needs to function in an orderly and purposeful manner in situations of uncertainty. People look to the leader during times of uncertainty and unfamiliarity and find reassurance and security when the leader portrays confidence and a positive demeanor.

5. Good leaders are tolerant of ambiguity and remain calm, composed and steadfast to the main purpose. Storms, emotions, and crises come and go and a good leader takes these as part of the journey and keeps a cool head.

6. A good leader, as well as keeping the main goal in focus, is able to think analytically. Not only does a good leader view a situation as a whole, but is able to break it down into sub parts for closer inspection. While keeping the goal in view, a good leader can break it down into manageable steps and make progress towards it.

7. A good leader is committed to excellence. Second best does not lead to success. The good leader not only maintains high standards, …