Archive for the ‘merger’ Category
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14
Apr
2010
Increase the payday loan comfort level
Next we investigated the organizational values and ethics. Since both firms are financial in nature, I had each group brainstorm its values and ethics and then review them for compatibility. Based on the two organizations’ lists, there seemed to be no serious gaps in their values and ethics, with the exception of community involvement and the investment firm’s apparent lack of interest in it. We then investigated the organizations’ cultural environments. We used a cultural assessment grid to guide the discussion between the two partners and yield greater insight into the issues that might arise because of differences in culture. Based on this information, the partners decided that before they could launch any joint marketing initiatives, they needed to do some work on their respective cultures. While the investment managers were comfortable with change, for example, the banking managers would have trouble integrating the new investment products and services into their daily work. The group decided to help by providing extensive course offerings to help increase the comfort level with these products.
6
Jan
2010
A loan without putting up any collateral
If you want to get others to help you with the expenses related to your product development, you have several options. First, you could go to your local bank or credit union and get a loan. Often you can get a signature loan, that is a loan without putting up any collateral, for $2,000 to $3,000 if you have a good record with the bank or institution (no bounced checks, etc.). That may be enough money to launch your quest.
If that amount is not enough to fund the initial phases of your invention (this would likely only be the case if your invention were technical or complicated), you could get a larger loan by putting up collateral. Most often people use their homes as collateral for larger loans. This is a perilous proposition and not one we would recommend. We know that you believe that your invention is a sure thing and we hope that it is, but there are so many variables involved with inventing that no invention, no matter how good, is a sure thing. If you do not have a way to pay back such a loan without counting on potential income earned from your invention, don’t do it! No invention is worth risking your family’s financial security. We once heard from a want-to-be inventor who had done that very thing. He had mortgaged his home and had no way to make the payments when his invention failed to produce the income he expected. He was evicted from his home and found himself and his family homeless! Don’t let this happen to you!
The Small Business Administration is yet another possibility for obtaining a loan. SBA loans are actually loans you get through your local bank or credit union but they are guaranteed by the Small Business Administration. SBA loans are usually for between $10,000 and $150,000. They are most often given to small companies with a proven track record. They are seldom, if ever, given for something as speculative as an invention. Your best chance of obtaining an SBA loan will be if you have established a business around your invention or you already have a small business and are simply incorporating your invention into your business.