How to get a business loan

Decisions to make

Access to funds you borrow

Loan terms

Ongoing funding

• higher the overdraft amount higher the fees
• clauses where the lender can demand repayment of the whole loan at any time.

Fixed or variable interest rate

Loan security

Fees

Seek advice

Plan the business, plan the finance

Risk assessment

• the level and nature of your security (what you're offering to give them if you can't repay the loan)
• your ability to make regular loan repayments (cash flow risk)
• your ability to ultimately repay the debt (business risk), including any other debts you might already have.

A lender's perception of risk

• start up businesses incorporate financial, business and management risk
• lack of security 
• lack of business history
• industry sector, factors will include levels of competition, barriers to entry, profitability profile and current economic conditions
• highly seasonal businesses e.g. suimsuits, agriculture. You'll need to demonstrate how you'll deal with cash flow pressures in the off season
• lack of planning, market knowledge and finance skills
• poor credit history.

Watch out! Before entering into a payment arrangement with the Tax Office, businesses should discuss this with their current or future lenders. Many businesses are unaware that entering into a payment arrangement with the Tax Office or other government agencies may adversely affect their current and future financing arrangements. For instance, a lender may not lend to a business if it is currently in a payment arrangement.

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KEEP COMMUNITY SUPPORT IN YOUR COMMUNITY
Donate your unwanted car to SARAH.
By helping us, you help others!

Your donation of a car, truck, or RV helps SARAH's mission of assisting individuals with intellectual disabilities. Proceeds from the sale of donated items fund various programs and services that SARAH provides to the over 650 adults and children that we serve and the families that rely upon us. 

For more information or to donate, contact the SARAH Foundation office at 203-453-6531 or email Beth atbeth@sarahfoundation.org
Thank you, your donation will make a difference! 

1. What can I donate?
We accept most vehicle donations.

2. My car/truck is not in working condition, can I still donate it?
Yes, we accept cars in all working conditions. Depending on the age, mechanical status and/or physical appearance, a determination is then made to where the donation will be processed. All cars must have an engine and should be tow-able. Cars that are in excessively poor condition may be declined as the cost of the towing may exceed the value of the donation. 

3. What does the SARAH Foundation do with the vehicles?
Depending on the above mentioned factors, the vehicles are either sold at retail, auction or salvage outlets. The proceeds go to support the various programs and services that the SARAH Family of Agencies provides to those with intellectual disabilities.

4. What paperwork is needed to donate?
For cars, only a valid title, signed to the SARAH Foundation is needed for donation. 

5. What if I do not have my title?
You will need to get a duplicate title from the DMV. For information and a copy of the application; go to www.CT.gov
6. Are there any expenses that are passed onto the donor for towing, etc?
The SARAH Foundation appreciates all donations that are received, and we incur all charges.

7. What is the process and timing for donating a vehicle?
Donations are processed with a phone call to the SARAH Foundation where a staff member will contact you verifying all of the information. From there a determination is made on how the donation will be processed. Depending on the overall condition, mileage, etc. a licensed dealer will be identified to process the donation. The vehicle information is immediately faxed to them and they will call you directly to arrange a pick-up. 

8. How quickly will it be to pick up the car and do I need to be there?
Depending on the number of donations received, the donations are usually picked up within a few days. If there is a need to pick-up quickly (ex: moving, etc) please inform us and we will try to accommodate your needs. We make the donation process as easy on you as possible so you do not need to be there. It is important that you remove the license plate and all personal items and leave the keys and title with the vehicle. Discuss with the dealer where to leave the items. If they arrive and the title and/or keys are not there, they will be unable to take the donation. 

9. Is my donation still eligible for a tax deduction under the new law?
Yes, the SARAH Foundation is a 501(c)(3) non-profit organization and your donation is tax deductible. However, individual tax situations vary so please check with a tax professional. 

10. How much will I receive as a tax deduction for my donation?
Beginning January 1, 2005, the IRS now allows you to claim a tax deduction of:
(a) The fair market value of your vehicle up to $500, or
(b) The amount that we sell it for (If more than $500 and/or we do not put a lot of work in the vehicle before selling it).
For additional information, the IRS provides a Donor's Guide to Car Donations. The link to IRS Publication 4303 and the new law revision will answer additional questions.

11. Do I get a receipt of my donation?
Yes, we will follow up with a receipt within 30 days of the sale of the item with all of the necessary information needed for filing your taxes.

12. So you have a donation, now what?
Start right away! You can call the office directly at 203.453.6531 or email Beth at beth@sarahfoundation.org. We thank you!

The cost of higher education in the United States rises year after year, and many students are finding that they are unable to support themselves. There are a number of other avenues that you can explore when looking for sources of funding for your education.

On-line Scholarship Search

Research scholarship and financial aid options online. The following sites provide information specifically for international students:

Your Home Country

Your own home country could possibly be a source of funding, either from organizations or companies from your home country or you government. For instance, Saudi Arabia launched a program that provides full scholarships to over 10,000 Saudi students studying in the USA. Investigate this option thoroughly before you leave. Bear in mind when you are applying for aid from your home country that there may be some stipulations involved. For example, you may have to return home to your country once you have graduated.

International Organizations

There are several international organizations, such as the Fulbright Commission, who grant aid to students all over the world. Other such organizations that offer aid are:

• The United Nations
• AMIDEAST
• World Council of Churches
• Soros Foundation
• World Health Organization

Many of these organizations require you to be in your home country when you apply, so plan ahead, as they can be very competitive.

U.S. Universities

Many U.S. colleges and universities offer limited financial aid for international students through their financial aid offices. In general, however, there is much less money available for undergraduate study in the United States than there is for graduate study. Visit our Schools Awarding Financial Aid pages to see which US schools offer aid to international students. Private institutions can sometimes discount or reduce the costs of tuition; public institutions seldom have this option. You should request information about financial aid when you request an application form from the institution's admissions office.
In some instances, it may be possible for you to participate in a formal exchange between your home institution and the institution you wish to attend in the United States. You can get more information on such exchanges by contacting the international student offices at the U.S. institution or by contacting the corresponding office at your institution. It is possible for this kind of person-for-person exchange to reduce expenses.

U.S. Government

International students are not eligible for U.S. federal aid such as Stafford Loans or Plus Loans. However, there may be other sources of funding if you are an international student coming into the U.S. to study, so check with the U.S. embassy in your home country.

Your family

The biggest source of income for international students is your family. A recent study by the Institute of International Education (http://www.iie.org) showed that nearly 65% of all international students in the USA were funded by there family and relatives, with college and university funding coming in second. International student funding can be quite competitive, so your family may be another source of funding for you to explore.

International Student Loans

International students are not eligible for U.S. government-backed loans like Stafford Loans or Plus Loans, but international students are eligible for private international student loans to study in the USA. As long as you attend an approved school, and have a US citizen or permanent resident to co-sign for you, you can borrow as much as you'll need. Be careful about taking on too much debt, you should only borrow what you truly need to cover the cost of studying and living in the US.

Employment

As you begin to think about funding sources for your educational and living expenses in the United States, remember that you cannot count on working in the United States unless you have been granted a teaching or research assistantship. When you submit evidence of your financial resources, you cannot reply on potential income. The income on which you base your application must be assured, and it must be equal to or exceed the costs of the first year of your studies.
Immigration regulations are very strict with respect to working while carrying a student visa. F-1 status, which is the most common status for full-time international students, allows for part time, on-campus employment (fewer than 20 hours per week.) J-1 student status allows for similar employment, with similar restrictions, as long as permission is given by the exchange visitor program sponsor. Visit our Working in the USA pages for more information on employment opportunities and restrictions for F1 students. M-1 visa holders for technical and vocational programs are not permitted to work during the course of their studies.
Jobs available on campus typically do not pay much, certainly not enough to finance a university education. Do not count on this kind of a job for anything more than a supplement to other funds.
Careful long- and short-term planning is necessary to ensure that you will have a rewarding educational experience in the United States. If you are realistic about your financial needs, you will be better able to enjoy the exciting academic and cultural experience of living and learning in the United States.

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International Student Loans

You should always carefully evaluate how much money you will need to study in the USA. Then you will need to research and apply for scholarships, financial aid from your school, and find money from any other source, including family funds. After exhausting these avenues, most international students still have a funding gap, and that's where international student loans come in.

What is an International Student Loan

Federal student loans are popular with US students studying in the US, but they are not available to international students. Instead, international students are eligible for international student loans, specialized private education loans available to international students studying in the US.
International Student Loans are now a very realistic way to finance your education in the US. Loans are very flexible, and can offer loan amounts high enough to pay for your entire education, but with extended repayment terms and reasonable interest rates, so you can afford the repayment after you graduate.

Co-Signers

All international students applying for loans must have a US co-signer in order to apply. A co-signer is legally obligated to repay the loan if the borrower fails to pay. The co-signer must be a permanent US resident with good credit who has lived in the US for the past two years. The co-signer is often a close friend or relative who can assist in getting credit, since most international students cannot receive credit on their own.

Interest

Interest is the amount charged by the lender in addition to the amount of money that you borrowed. The interest rate is calculated based on an index plus a margin that will add an additional percentage interest rate depending on your co-signer’s creditworthiness. The two most common indexes used for international students are the Prime Rate and LIBOR Rate.

• Prime Interest Rate – This index is determined by the federal funds rate which is set by the US Federal Reserve.
• LIBOR – The LIBOR (London Interbank Offered Rate) is based on the British Bankers’ Association and is used on the London interbank market. The rate is an average of the world’s most creditworthy bank’s interbank deposit rates for overnight and one year terms.

When evaluating the loan, the lender will clarify which index the plan uses. Then, there will be an additional margin that will be added based on the borrower’s individual criteria, including the co-signer’s credit history. Based on their creditworthiness, an additional interest rate will be added to the index. This will be the total interest you owe. When your application is approved, your specific margin will be disclosed to you, at which point you can accept or refuse the loan.

Repayment

Repayment will vary depending on the loan option you choose. Since most international students are not able to work while they study in the US, repayment must be considered as an extremely important feature in your loan. You will need to consider how much the monthly payments will be, when payments will begin, and how long you will be able to defer paying back the loan. The repayment period generally ranges from 10-25 years, but the larger the loan, the longer the repayment period. The standard repayment plan options are:

• Full Deferral – Students are able to defer payment until 6 months after graduation as long as full-time status is maintained. Students can defer payments for a maximum of four years, which is the typical length of a degree.
• Interest Only – International students only pay the interest while in school, up to four consecutive years, and can defer the principal until 45 days after graduation, or when the student drops their course load to part-time.
• Immediate Repayment – Payments on both interest and principal are due immediately once the loan has been dispersed.

Frequently Asking Questions

Who is eligible to apply for international student loans?

Students who are not US citizens or non-citizen permanent residents and who are attending an eligible US college or university may apply for international student loans.

What can international student loans be used for?

International student loans can be used for education-related expenses such as tuition, books, fees, insurance, and room and board.

What is the maximum loan amount I can apply for?

You can apply for up to the total cost of education, minus other aid, as determined by your school. In order to determine your maximum loan amount, you will need to contact your school’s financial aid office. After you apply and receive credit approval for you and your co-signer, your school must certify the amount of the loan.
When used responsibly as part of an overall education funding plan, international student loans can help to put a US education within reach, regardless of your financial circumstances. We offer two main loan resources dedicated to providing funding for international students: International Student Loan and Study Abroad Loans - please visit them for more information.

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Membership Account Agreement. This document is subject to applicable federal laws and the laws of the state of North Carolina. As used in this agreement, the words "I", "me", "my", "you" or "your" refer to the primary owner.

The words "Credit Union" refer to Coastal Federal Credit Union. Being within the field of membership, I hereby apply for membership in the Credit Union; I agree to conform to the Credit Union bylaws, Truth-In-Savings, Funds Availability Schedule,

Fee and Rate Schedule and amendments thereto; subscribe for at least one share; and if joint owners are designated, I agree to the conditions printed on this form and the Account Change Card form.

Under the penalties of perjury, I certify that the information provided on this form is true, correct, and complete. In accordance with the USA Patriot Act, we require documentary evidence to verify this information. In addition,

I understand that a consumer credit report may be obtained from one or more consumer reporting agencies (credit bureaus, ChexSystems, etc.) for approval of this request.

I understand that approval of my VISA Check Card will automatically entitle me to access the Credit Union automated teller machines (ATMs) and any Credit Union approved ATM networks.

I agree that the services applied for on the front of this form are granted pursuant to the terms of the Electronic Funds Transfer Service (EFTS) Disclosures which will accompany the access card or service instructions. I also agree to abide and be bound by the terms of the agreements and disclosures of each service approved.
Any financial service provided by the Credit Union may be used for any transaction permitted by law. I agree that illegal use of any financial service will be deemed an action of default and/or breach of contract and such service and/or other related services may be terminated at the Credit Union's discretion.
 I agree to hold the Credit Union harmless with regard to any claims, suits or other legal actions arising from or related to such illegal use.

In addition, if I use any Credit Union service in an illegal manner, or facilitate or participate in any such illegal use of Credit Union services, I agree to indemnify the Credit Union from any loss, liability or expense (including attorney's fees) arising from or related to such illegal use of Credit Union services.

If I fail to provide the Credit Union with the correct Tax Identification Number (TIN), any fees that may be imposed on the Credit Union resulting from this error will be assessed to my account.

Any objection with respect to any item shown on a statement of account shall be waived unless made in writing on or before the thirtieth (30th) day following the day the statement is mailed.

This account shall be subject to service charges in accordance with Fee Schedules adopted by the Credit Union from time to time.

The use of this account is subject to such other terms, conditions and requirements as the Credit Union may establish from time to time.

The Credit Union reserves the right to terminate this account without notice or consent if it is not maintained in accordance with normal financial practices.

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Federal Auto Loan: Your national connection source for bad credit auto loans and poor credit car financing.

FederalAutoLoan.com was established upon common American principles –

those of honesty, hard work, and a helping hand for one’s fellow man. And here at Federal Auto Loan, just like the freedom and liberty with which this country was founded on, we believe there to be certain truths in the world of financing that are self-evident: that at times, people go through financial hardship…

and simply need a little help to get back on the right track; and that poor economic situations often take a serious toll on the financial prosperity of many individuals. It is for this very reason that, here at Federal Auto Loan, we have developed a consumer connection program designed specifically to lend people a “helping hand,”


and assist them in getting connected with the bad credit auto loans they need. FederalAutoLoan.com has established a nationwide network of bad credit auto loan lenders and dealers who specialize in helping people who have credit challenges. But more than this,

we also do our best to provide our customers with extensive articles and information to aid in researching all aspects of their bad credit auto financing decision. Simply put, all financial decisions are important – and each one should be considered carefully – especially during times of financial difficulty
It is an unfortunate reality that finding car loans for bad credit with a reputable bank or lending institution, or even through an auto dealership is often a strenuous and difficult task to accomplish at times. This is especially true if you hope to find a decent rate on your bad credit auto loan.

Unfortunately, when it comes to auto loans with bad credit, borrowers are typically forced to suffer through a higher monthly payment – a “price” and pay a “premium” for having poor credit. The good news is that there are many options for great subprime auto financing. There are hundreds of lenders and dealers across the nation who specialize in bad credit car loans.

And these lenders and dealers want to help people with bad credit get the poor credit auto financing they need. Further, some of these lenders and dealers are even able to assist with bankruptcy auto loans. Others are even willing to work with people in need of a car loan after having a vehicle repossessed!

And while you probably won’t get as low a rate as you would if you had good credit, shopping around can help you find more competitive rates for your situation. The only trick is knowing where to look…
Federal Auto Loan can help connect you with the bad credit auto financing you’ve been searching for. A large percentage of the car purchases made in the United States are financed with the help of bad credit auto loans.

This is because more than ever, Americans are struggling with poor credit scores. Thankfully though, as a result, there are a greater number of bad credit auto loan specialists available to you. We at FederalAutoLoan.com have a goal of matching as many bad credit customers as possible with one or more of the lender/dealer affiliate financing specialists in our networks.

From there, we hope auto financing will be made available to you, regardless of bad credit struggles. Take just a couple minutes to apply through our safe and secure website, and we’ll do our best to connect you with a financing specialist who will try to help you get the bad credit car financing you need. Don’t worry, our program requires absolutely no commitment from you if you apply.

Our interest is to help you, not rope you into a contract—therefore our program is free. If we are able to connect you with one or more lenders and/or dealers, you are under no obligation to work with them.

You are free to make your own choices, FederalAutoLoan.com is simply here to help make those decisions a bit more manageable. And remember, as with any financial transaction you should research any company you are looking at doing business with and make sure to consult your financial and/or tax advisor and review all elements of the transaction carefully to be sure you are getting a good deal.
An incredible number of people are suffering through bad credit scores as a result of the “not-very-good” economy.
And many times, poor credit is the troublesome aftermath of a difficult situation such as a job loss or illness. Regardless of the reason, transportation is a necessity in this world. And regardless of poor credit scores, you should be given the opportunity to fulfill this need…
You surely aren’t a “wicked delinquent”, and shouldn’t be treated as one. Often, lenders will deny honest, reliable people simply because those people have experienced trials that proved nearly impossible to bounce back from.

And those people not only have a desire to escape from bad credit’s clutches, they are searching for a bad credit car loan to help with this need. Because of this, FederalAutoLoan.com was created with an established network of reputable lender and dealer affiliates who are trained to work with bad credit customers—even the ones with no credit or bankruptcy tainting their credit reports.

Together, with our lender and dealer affiliates, we hope the end result is you driving off in the car you need while improving your credit score along the way.

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