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Jeff Quint, Owner and Founder of Cedar Ridge, the reigning “Distillery of the Year” as named by the American Distilling Institute joins Enterprise Radio.
Listen to interview with host Eric Dye & guest Jeff Quint discuss the following:
Tell me how Cedar Ridge distillery came to be.
I noticed that you are the reigning “Distillery of the Year” as awarded by the American Distilling Institute. How did you win that award?
What exactly is “grain to glass” distilling?
“Grain to glass” distilling sounds like a more expensive method, and a slower path to growth. Is that true?
Being a distiller, especially in a family-owned distillery, sounds like a fantasy job. What advice can you share with others who may want to pursue this?
Born and raised on a farm in Eastern Iowa, Jeff grew up learning and living the values associated with a large family, hard work, and managing small business.
Upon graduating from the University of Northern Iowa with a BA in Accounting and a freshly earned CPA certificate, Jeff moved to Minneapolis to join a large public accounting practice. A year later he married his high school sweetheart, Laurie, who joined him there. After several years in Minneapolis and shortly after their first son, Murphy, arrived, Jeff and Laurie decided to move back to their roots in Eastern Iowa.
Over the next couple of decades, Jeff was involved with several companies (two of which he co-founded) as their Chief Financial Officer or Executive VP. In 2003, Jeff and Laurie started Cedar Ridge, which is now the largest craft distillery in the state, producing four barrels of whiskey per day and reigning as American Distilling Institute’s “Distillery of the Year.”
Jeff is the ninth generation of Quint family farmers and distillers. His great-great-great-great-great-great-grandfather, Johann Jakob Quint, settled in Wintrich, Germany in the early 1700s to open a cooperage and winery on the Mosel River; Weingut Quint is still there today. Jeff’s great-grandfather, John Quint, migrated from Wintrich to Eastern Iowa in 1881, bringing his trade and skills with him. Jeff’s father, Howard Quint, taught Jeff the process of harvesting and pressing apples from their small family orchard, then making that fresh juice into wine and brandy; Howard’s old press and copper pot still are on display at Cedar Ridge today.
Every business wants to have happy customers. It’s universal. Whether you’re a B2B company or a B2C brand, having happy customers is the ultimate goal. It has been proven that happy customers spend more, they are more loyal and they are more likely to recommend brands and companies they like to their peers. So, how can you make your customers happy? Simple. Cut the pain points that irritate today’s consumer. Here are the top three things that irritate consumers and how to remedy them.
Lose the Automated-sounding Responses
Notice we didn’t say lose the automated responses? Automation is essential in today’s connected world. However, informed, savvy consumers can see right through automated-sounding messages, and it’s one of the most irritating customer services habits according to polled consumers. Having common answers programmed into your help desk software, email marketing or social media can help you cut back on a lot of typing, however, these automated messages should still be personalized to the customer. Automation is the way of the future, in fact, data from IBM cites that by the year 2020, 85 percent of all customer interactions will be AI-powered, and will be handled without the assistance of a human agent. IBM reports that consumers are connecting with brands through AI-powered messaging applications to purchase airline tickets, book hotel accommodations and even receive advice when it comes to the latest fashions. A range of industries have already adopted this technology, it’s only a matter of time until the rest of the world catches up.
Cut Long Hold Times
Tick, tick, tick … precious time is passing by each second a customer is on hold. A 2015 Consumer Report found that 75 percent of survey respondents reported being highly annoyed when they could not reach someone on the phone in what they considered a reasonable amount of time. Furthermore, 57 percent of respondents reported being so irritated by mobile customer service that they ended the call before a resolution was even met.
Make sure that your customers are satisfied when they call in to your business, and be sure that the technology that you are using internally is equipped with the fastest mobile platforms to best serve your customers. Qualcomm’s Snapdragon platforms enable superior connectivity in addition to allowing your devices to charge faster and last longer in between charges, meaning your team is always equipped to handle customer phone calls, no matter how long they need to stay on the line.
Quit the Unpleasant Upselling
It’s not uncommon to find upselling in a range of business models across a variety of industries. When executed correctly, it’s a win-win for your business and the consumer. But when it’s done wrong, you can turn off a customer immediately, and you risk losing their business altogether. When upselling, make the additional sell relevant to the buyer’s initial purchase. If you sell software for example, a great upsell would be premium service. Additionally, you’ll want to consider selling something that solves a problem. Let’s go back to the software example. If the consumer purchases software, it may be a good idea to upsell training for the product. Plus, by making your upsell available at a discounted price, your consumers will feel like they are getting a good deal, and will leave the transaction happy.
Happy customers make for a healthy, happy business. If you want your customers to spend more, be more loyal and recommend your company to their peers, cut the pain points like unpleasant upselling, long hold times and automated-sounding replies and apply these customer service strategies.
With devices becoming smarter and data growing exponentially by the day, it seems there is no stopping the rapid growth of technology. The incredible rise of artificial intelligence, the automation of practically everything, the increase in smart devices –we’ve all heard the headlines, but what do these trends mean for your business?
Using the latest technology in your business will allow you tap into the modern marketplace and help you streamline your company processes. With this in mind, here are some of the tech trends shaping the world this year, and how to fully utilize them within your business.
Utilize Big Data
The amount of data we produce continues to increase rapidly. By 2020, the digital information available will have grown from around 5 zettabytes today to 50 zettabytes. Nowadays, every action we take leaves a digital trail: data is created when our smart home devices communicate with each other, when we carry our GPS equipped smartphones, when we buy things online and even when we chat to our friends on social media. This ever-growing stream of information means we can now use data in ways that simply weren’t possible a few years ago.
So, how does this impact your business? Big Data is helping organizations all over the world to run their operations more efficiently and productively, and it’s revolutionizing almost every industry. In addition to shaping artificial intelligence, data science and the Internet of Things (IoT), Big Data also helps prevent crime, improve healthcare and even monitor the flow of refugees away from war zones around the world. Big Data can help your business understand and target customers, optimize business processes and assist employee training. For expert data management solutions, visit Bytes.co.uk.
Utilize IoT Technology
The term “IoT technology” refers to smart devices that are all connected through a single, remotely accessible network. For example, in your home, you may have a smart TV, refrigerator, and thermostat that can all be controlled by your handheld device. How could this influence your business? Unbeknown to many, these technologies provide incredible opportunities for growth, including new products and services, streamlined operations and automated decisions. Used in a strategic way, IoT technology can help you meet all of your business goals through customer engagement, business process monitoring, automated services and the production of Big Data.
By integrating all of your equipment on the same network, you’ll know where all of your data is, and you’ll learn in-depth metrics about your customers and their behaviors, as well as details about how your business operates.
Automating the processes in your business that are best suited to machines will free up manpower and save you both time and money. As any business consultant will tell you, anything that can be automated in 2018 – such as payroll, invoicing and data entry –should be. There’s a whole host of automation tools available on the web, some paid and some free. Another alternative is to install business management software that includes automation.
Self-made entrepreneur and feminism supporter Kumari Fulbright is living life to her fullest. Although she has earned multiple qualifications including an MBA, a psychology degree, and a real estate license in Florida with an additional license for Nevada in the works, she shows no signs of slowing down.
In addition to her impressive credentials, Kumari also has also achievements ranging from assisting women, and minority-owned businesses win government contracts, to establishing her entrepreneurial presence in the entertainment industry. While not many can say that they can accomplish as much as Kumari, she attributes her acclaimed success to the unwavering support of her family.
Family – the key driving force
Kumari reveals that family is one of the critical components of her life. I have the kind of family everyone dreams of having. We are tight knit and stick together, they are the reason why I’m resilient,” she adds “My family actually enjoy one another and get together often. My aunts are like built-in best friends. We shop together, talk at least weekly and email and text almost daily.”
The 35-year-old is more than just a beauty, but also possesses profound compassion towards other, less fortunate people. Despite her good looks, Kumari keeps a humble disposition and radiates a jovial personality which she attributes to her upbringing by her parents.
“My parents took us to homeless shelters and soup kitchens as kids as a way to not only to teach us the importance of helping the less fortunate but as a reminder of the blessings in our own life.” Since then, Kumari has always been active in community service all throughout her college years into adulthood.
While working at a public affairs firm in Dallas, Kumari has helped several MBE (Minority Business Enterprises) and WBE (Women’s Business Enterprise) certified companies secured lucrative government projects. “It was a very fulfilling experience to help these companies grow” she adds.
“My family actually enjoys one another and we travel together often.” When Kumari is not busy with her ventures, she enjoys spending time on the road visiting other countries with her loved ones. So far her travels have taken her across cities in Europe, and South America and she has no intention to stop anytime soon.
“Traveling is one of my favorite hobbies and tools for personal growth. It gives you an understanding and compassion that cannot be achieved in any other way.”
Despite her success in the business world, Kumari currently is working on a number of pet projects as she wants to keep doing what she loves. With entertainment being one of her strongest passions, she has co-founded Shades of Black Productions and partnered up with Aloris Entertainment to develop two television series pilots. She is trying her hand in screenwriting, which has since garnered interest from Netflix.
Kumari’s love of entertainment goes beyond the bright lights and silver screens. She founded an event planning company during her college years which she managed to get Eminem to perform at the local Detroit nightclub.
“I’ve always love to host parties and provide people with an amazing time,” says Kumari. “Even if it’s just a private dinner party in my home. I like to have all the final details nailed down perfectly before showtime. And when curtains roll up, I just sit back and watch others enjoy the ride.”
While there is still a long road ahead until we’ll finally be able to see Kumari’s screenwriting debut hit our screens, she remarks that the early stages of development have been going smoothly.
This is all attributed to the support of the Rhode Island-based Aloris Entertainment, which has numerous theatrical releases and television programs under its belt. “In a way these are guys are like family, very supportive even though this is something I have never done before,” she praises.
Another project that Kumari is heavily invested in is the Freedom Initiative Project. Arguably one of the most important projects that she has ever worked on, Kumari wants to make a difference, and give back to the women of America in a big way.
The Freedom Initiative Project is a not-for-profit organization serving women experiencing transition and dislocation. The Project assists women, during times of struggle, in reaching their personal potential and achieving independence.
Going back to her volunteerism roots from her past, Kumari hopes to bring the same amount of support and compassion to women who are recovering from traumatic experiences like abuse and incarceration. She hopes that the Freedom Initiative Project can provide guidance, and reach out and assist these women in education, housing, and moral support.
Though it is an ambitious undertaking, Kumari is optimistic that her past experiences in overcoming traumatic experiences, as well as her community service background will give her the edge to see this project succeed. She remains thoroughly committed to fostering a symbiotic relationship between women and their communities.
When asked what the essential qualities to succeed as an entrepreneur are, Kumari simply replies “Life is full of ups and downs, but it’s the ability to stay determined, relentless, and persevere till the very end that pushes you to the finishing line.”
About Kumari Fulbright
Kumari Fulbright leads the Freedom Initiative Project with passion and a lifelong commitment to service in the community. Kumari holds a Bachelor’s degree in psychology from the University of Michigan-Ann Arbor and a Masters of Business Administration (MBA) in management from the University of South Florida.
She has studied law at The University of Arizona’s James E Rogers College of Law and where she was selected for membership in the Arizona Journal of International and Comparative Law.
Kumari brings a diverse career background ranging from assisting women, and minority-owned businesses win government contracts to entrepreneurship within the entertainment industry.
Kumari was inspired to start the Freedom Initiative Project by her own experiences of transition. She believes that with education, opportunity, and a supportive network, women can rise above their circumstances to become contributing members of their communities. Along with a dynamic Board of Directors and dedicated volunteers, Kumari hopes to help women rise from abuse and recidivism to independence.
If you live with an addiction, it can be crippling. Losing control over everyday decisions is undesirable for anyone. There are many addictions, from alcohol to sex, and, of course, drugs. What begins as recreational activities often become habits, which can spiral very quickly into addiction as people seek increasing quantities of pleasure to escape reality. When something has a stranglehold over your life, it can be suffocating. However, if you’re reading this article, you must be ready to make a change.
Admitting you have an addiction is the first step. From there, you can start making positive decisions to empower yourself. Regaining control of your life is admirable, but not easy. If you’re wondering how you can overcome addiction proactively, you’re in luck. This article provides methods for correcting compulsive behaviors.
Natural pleasures are often very rewarding. However, whereas most addictive substances and behaviors provide an instant fix, natural pleasures require effort. Natural highs are achieved by engaging in challenging activities that provide a sense of accomplishment upon completion. Unfortunately, unhealthy methods of attaining pleasure are encouraged in society. As an addict, your brain will be desensitized to these stimuli and release less dopamine, diminishing the effect of the natural “high.” This requires a significantly greater amount of the euphoric chemical to reach your desired high, which leaves you feeling shallow and unfulfilled. However, you can replace these destructive practices with wholesome activities, such as exercise and a healthy diet. Although your reformative choices will feel alien at first, you’ll notice benefits and achieve natural highs as time progresses. Engaging activities leave you feeling happy and satisfied, and you won’t need to turn to your fix for a lift.
Harness Your Creativity
Creative activities keep your mind occupied, while enhancing natural dopamine release to improve your well-being. Whether you choose music, dancing, writing, or another art form, you won’t be subject to adverse side effects, and you’ll experience a higher state of being. Connecting with your creative side is a great decision for an addict, because it not only keeps your mind occupied, it also provides a positive escape in which you have a genuine interest.
Seek Professional Help
Once you decide to do something about your addiction, whether you’re encouraged by loved ones who seek interventionists, or you decide which avenue is best for you on your own, you’ll be one step closer to liberation. At this point, many addicts begin to wonder how long after taking a drug it will stay in his or her body, and become anxious to learn the answer. A cocaine addict, for instance, might jump right in on the first day of treatment, and ask a professional, “How long does cocaine stay in your system?” Don’t be deterred if they hesitate to offer more than a vague response. They may even shift your focus onto more positive trains of thought, and purposely avoid the question. They aren’t trying to deceive you or hide things from you. Although the physiological aspect is profound, what’s more pertinent is your psychological approach to recovery. Professionals will help you tackle the root cause of your addiction. However, in the initial stages of treatment, they’ll be more focused on correcting your physical dependency as quickly as possible. Then, as you progress into a long-term resolution, professionals will delve deeper into the psychological cause of your addiction.
Distance Yourself From People Encouraging Addictions
Socializing with people who encourage destructive behavior will exacerbate your issues. It’s important to surround yourself only with people who value healthy lifestyle choices and positive habits, during and after treatment. Together, you can follow the same passions in life, and avoid situations in which you could once again become vulnerable to your addiction. Although it’s difficult shaking negative people from your life, you have to do what’s best for you. Value life over blind loyalty. This may mean that it is necessary to cut off some of your closest friends, which is often the most difficult task of all. An alternative solution is to take a temporary trip away from your local area. You may need some time to clear your head, in a quiet place in which you can effectively recuperate. This alone time can reduce the stress you feel about cutting these ties. You’ll have time to gain a better perspective, once you’re away from the familiar environment. The trip doesn’t have to be expensive! You can rely on vacation rental services, like Vacation rentals Cali Colombia, instead of paying for a hotel. After all, it’s peace and perspective you’re seeking, and this can be accomplished even when you travel on a budget.
Surround yourself with uplifting people who support you, and remember to put your well-being first, and you’ll be on the road to recovery!
Stemming back to the days of Men are From Mars and Women are From Venus, we have understood that there are some fundamental differences between the way men and women think and feel. This difference could not be more apparent in the way in which we communicate, and in the goals of our communication. By and large women are wired with one set of want and needs in terms of communication, and men are wired with another. The two are quite different, but the awareness of the others needs and goals can completely change interactions and our understanding of one another. This one simple explanation has had a profound impact on the way that many couples interact with one another, and are better able to support the other’s needs. So, what are these simple truth’s I speak of?
Women are emotional and evocative by nature. I do not mean by this that we are emotional messes, incapable of rational thought. I mean that we have different goals when we communication. When we are telling out partner about our day, or about a situation that has happened, we are simply asking them to listen to us. We need to be heard, supported, and understood. We don’t need someone to be a bobble head who agrees with us, but we do need them to hear us out and try to understand where we are coming from. The mere act of being able to get something off our chest, and talk it out, is often all we need to feel better, and that we have processed through a situation.
Men are typically more analytical and pragmatic. By this I mean, they assume if we are telling them something, we are asking them to fix it. When their partner starts to tell them about a person or situation that is frustrating them, their mind immediately starts to come up with questions, possibilities and solutions to a problem that may not actually exist. They are problem and solution oriented, and it does not automatically occur to them that all that may be required of them is listen and be a sounding board for their partner.
This is not just a sweeping generalization. This is experience from years and years of working with couples, and verification time and time again, that this is indeed the dynamic, and the way that each person thinks, how they operate, and what they need. It is like a lightbulb goes off when the other person grows to understand that this is how the other person operates, and this is where they have been coming from all this time. When couples learn to ask for what they need, or ask their partner what they need from them in an interaction, you can literally see the body language relax. I practice this myself, and will preface conversations with, “I just need you to listen to me. I just need you to hear me out. I don’t need you to fix anything, and I don’t need anything else from you.” This makes intentions clear to the other person, and makes them relaxed and more able to give you what you need, because your needs and expectations are transparent.
The same works for men. If what they are hoping for is some practical advice, and they feel like all they get is someone who sits and listens, but offers little feedback or solutions in return, they merely ask for what they need. Tell your partner that you are really struggling with a person or situation, and that you really want to run something by them and get their advice. That there are no one else you trust like them, or feel comfortable talking about this with. Now your partner is more alert, aware, and engaged, as you need them to be. With this newfound understanding of how each of you communicates and operates, as well as what your ultimate communication goals are, you will have more productive, and more pleasant interactions. You will be able to meet each other’s needs and support each other in a way that you never have been able to before.
Doctors who practice chiropractic therapy need to perform chiropractic marketing to attract new patients for the medical practices. Chiropractic marketing can be taken in many forms, but it is generally needed to educate the common man about the potential benefits of chiropractic care and encourage new patients to visit the doctor. This marketing will help the chiropractic doctor grow his practice and increase in creating a more lucrative business.
Chiropractic care is an alternative medical therapy which involves in correcting shifts of bones of the spine and subluxations. These subluxations can cause back pain which can be easily treated by chiropractic care. It is believed that correction of misaligned bones can heal some other problems like asthma, headaches and infertility.
Doctors practising chiropractic therapy need to attract patients and spread the awareness of this therapy by developing a few methods and following some chiropractic marketing tips. Word of mouth marketing can quickly do this through referrals, web marketing, free health screening and lecturing. These have been found quite handy tools to market chiropractic therapy. Ideas to promote chiropractic marketing is not easy but can be new and exciting as you put in your research. Chiropractic marketing ideas are old but practiced with a modern twist with the incoming of the digital era.
The old marketing strategies have to be practised digitally to promote the efforts of your practice. Some ideas are tried and tested and stable bringing in good business if appropriately followed. Other approaches can be fun, unique and experimental. A combination of all these ideas can bring your marketing to a mark and get your business, and your client list would grow immensely. A few suggested chiropractic marketing tips are listed below-
Having a chiropractic newsletter is the most inexpensive but an efficient way to stay connected with old patients and fetch a few new ones. The newsletter should include all the relevant content you need to convey to the patient. A section on chiropractic topic should be put which offers diet, exercise and other wellness information related to it. Guests should be invited to write articles, and community businesses should be encouraged to offer discounts to the patients who should be stated in the newsletter.
Exclusive discounts of your own products and services should also be conveyed through the newsletter. You can always invite patients to sign up when they come to the office or visit your website to get an appointment. The social media accounts should be used to promote the newsletter with teasers of upcoming events and issues.
Sponsor Wellness seminar
Collaboration with spas, health clubs to sponsor wellness seminar is always beneficial to market your chiropractic therapy. This kind of platforms helps a lot. Become partners with other wellness companies or practitioners in the area would make a good team. It will help you grow by giving your access to their client base and customers, who are already interested in the same kind of services you are providing. The point is that you need to invite relevant and quality partners to work with who will add relevant information and offer to attract more people to the event resulting in better chiropractic marketing.
Develop a new patient referral program
Incentives are always welcome by people. A program should be developed to encourage patients to refer friends and in return give both the parties some incentive in the form of discounted services, products or free sessions.
Use samples to promote your chiropractic practice
If your practice deals with retail products, you can always use them by gifting it to referral patients as samples. It can also be distributed as goodies if you take part in different events like health fairs, charity runs or school programs along with a brochure or card that would give information about your practice along with your contact information.
Host monthly Wellness events
A big tip to promote your chiropractic marketing is to host a Wellness event at least once a month to spread awareness about your practice which would be free of cost. Your newsletter should be used to promote the event and also focus the topic which would be taken up in the event. This would create an interest in the patients. Participants should be encouraged to bring their friends and family to the event so that you reach up to maximum people.
Light refreshments and some small gifts along with some fun activities should be combined to promote the event and make it more interesting. The main idea of holding such events is to focus and market your chiropractic practice but also strategize in building more clients and customers. By including diets, exercises, gym safeties and exercises for children can be an add-on to your event.
Simple, easy strategies and tips would give your chiropractic practice a push and boost up your clientele. Do follow them and see the difference.
Jack Bergstrand the author of THE VELOCITY ADVANTAGE, the CEO and Founder of Brand Velocity Inc. (BV) and Consequent, on the board of the Drucker Institute, and the leading expert on how to increase the velocity of large cross-functional initiatives joins Enterprise Radio.
This episode of Enterprise Radio is working in association with the Author Channel.
Listen to host Eric Dye & guest Jack Bergstrand discuss the following:
What is the Velocity Advantage?
You say that is helps people achieve better and faster results with less effort and aggravation.
In the book you write about the “E-D-B-A” process? Can you briefly explain what it is and its importance?
How does the Velocity Advantage work for small to mid-sized organizations?
You offer advice for making velocity your “brand.” What are some steps to accomplishing that?
Jack Bergstrand is author of THE VELOCITY ADVANTAGE and is the CEO and founder of Brand Velocity Inc. (BV) and Consequent, on the board of the Drucker Institute, and the leading expert on how to increase the velocity of large cross-functional initiatives.
Prior to founding BV and Consequent, he was CIO of the Coca-Cola Company, CFO and head of manufacturing and logistics for Coca-Cola Beverages, and chief marketing officer and division manager for the Coca-Cola Bottling Company of New England.
Jack has three master’s degrees: in management from the Stanford Graduate School of Business, in education and human development from George Washington University, and in advertising from Michigan State University.
Everyone loves dressing up, but there are plenty of occasions where a simple T-shirt and jeans is more suitable. A well-selected T-shirt will highlight your fashion sense, while creating a level of comfort a suit can’t. T-shirts are great for most occasions, especially casual occurrences like visiting the ballpark or chilling out at home. You’ll probably spend more time in T-shirts than any other item of clothing, especially if you sleep in one too!
The T-shirt doesn’t get much attention because it’s an everyday item. This doesn’t mean you can’t style out your decision to create an aesthetically-pleasing outfit. There are infinite options on the market, so finding the right shirt for you is a difficult process. If you’re struggling to find the perfect T-shirt, this article will provide motivation to help you find the right shirt for you, alongside explaining why different types work so well.
Nail the Fit
We understand the concept that only buff guys look good in T-shirts, but we respectfully disagree. In a plain, fitted T-shirt, muscular guys have a head start, but anyone can get the fit right. It’s important to be honest with yourself and select a shirt that fits well. The sleeves should end at mid-bicep, gently hugging your arm. If you’re slim, a shirt with a tailored torso will help you avoid getting swallowed up. Give yourself more room if you have a fuller figure, remembering a shirt that hugs your chest will make you look bigger. Your shirt should end a few inches below your belt, ensuring your stomach isn’t on display.
100% cotton tees are the gold standard. They’re breathable, soft, and strong. A blend on the other hand is less likely to shrink in the wash, with wrinkles that shake out more easily. Cotton is the material of choice because you won’t sweat as much. If excellent quality is what you’re after, aviation shirts are a great choice. There are various designs available that will help you fly high, whether you’re a pilot or not!
Are Expensive Options Worth It?
Anything above $30 seems steep for a shirt, but there’s something to be said about expensive shirts. They’re generally more durable, using better quality sewing and material. Factories churn out shirts for $5 a piece, but these rarely last. You get what you pay for, so an expensive shirt will have better hems and seams, fit better, and will last longer. Price is an effective proxy for quality construction. Brand shirts focus on quality, and allow you to move more.
Dress Up Plain With a Pocket
Plain is good, but all the way plain can make you look like you’re in an undershirt. An easy solution to this is a pocket. A plain shirt with a pocket creates an air of professionalism for a dress down option, and will ensure you don’t look like you’re about to go out for a run!
To V or Not to V?
There are differing opinions on this, but ultimately your body is the best guide. A crew neck will make your frame look more square, so is a great option for a slight build. If you’re tall, you won’t want a V-neck which elongates your long neck. On the flip side, if you’re stocky, a V-neck is a great way to break up your frame. The main piece of advice is, don’t go too deep on the V!
If your financial position is less than perfect but you have assets like an owner-occupied home, hard money may be the easiest way to get the short-term cash you need.
What Is a Hard Money Loan?
The term “hard money” is most frequently used in North America, particularly the United States and Canada. It is a loan secured by a borrower’s hard assets and was used most frequently for commercial loans like new construction. Today, however, more homeowners are turning to hard money loans. Interest rates are generally higher than conventional commercial loans but often qualifications for these loans are much lower. This means even those with poorer credit ratings will frequently qualify. They are designed to be shorter term loans but longer-term private financing options are also available. This type of loan also involves much less paperwork and government regulations because they are most often secured from private investors and lenders as opposed to big banks. They became popular again after the economic crisis of 2009 when banking regulations became so restrictive as to limit the accessibility of loans, particularly home mortgages.
What Does It Take to Acquire One?
With a hard money loan, real assets are often more important than credit ratings. Lenders appraise your assets and these private lenders will often provide a loan to value (LTV) ratio of 65-75%. This translates to the potential availability of a $15,000 loan on real assets of $20,000. You will need to prove you have ownership of assets used to acquire the loans. Lenders will require identification and often other financial, tax and employment information. A property appraisal will likely be involved. The process is, however, far less tedious and much faster than that of a large bank, credit union or other financial institution.
Finding Hard Money Lenders
As these types of loans grow in popularity, finding hard money lenders is becoming easier. The reasons are simple. Hard money loans make economic sense for investors, borrowers, and the communities they serve. The can be secured relatively quickly with less paperwork. Finding hard money loans is simpler with private lenders like Private Loan Financial. PLF connects borrowers with investors who have money to lend. The purpose of the loan is virtually inconsequential. It may be used for home improvements, paying off other debts like credit cards or even to purchase another property.
Why Private Loan Financial?
PLF specializes in residential and commercial hard money loans for both borrows and lenders. This fills that void created by the highly regulated banking industry. It allows more consumers to secure loans through a simpler, quicker process.