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To offset the costs of its loan programs to the taxpayer, SBA charges a guaranty fee and a servicing fee for each loan approved and disbursed. The amount of the fees is based on the portion of the loan guaranteed by the SBA. The lender may charge the upfront guaranty fee to the borrower only
One, always talk with the proper professionals like attorneys and CPAs before taking action. Do not make any decision based on this exchange of information. With that said, there are a number of smaller variables but only two basic ways to structure ownership of a childcare business component and its real estate. The childcare business
Problem employees are the ones that are constantly in your thoughts and robbing your mind of time and resources that are needed for the other factors that make your childcare company or school successful. One minute you want to fire them at the top of your lungs, and the next minute you’re worried that they
Collection problems can be sorted into two primary types. The first is collecting from private pay clients, and the second is collecting various subsidy funds from federal, state or local government. PRIVATE PAY CLIENTS (From 100% to Subsidy Differentials):Private pay clients are oftentimes like children who are simply testing boundaries. Operating in this mentality, the
The answer to this question isn’t right or wrong. It is a matter of what is better for you. “Conventional” financing is typically defined as a bank loan that is not guaranteed by the SBA (Small Business Administration). While terms are always negotiable with lending institutions, the primary advantage of using this type of financing
Getting the best real estate appraisal for your childcare real estate for the best price is a function of four things. Knowing the type of appraisal you need Hiring the right appraiser Reviewing the appraisal. Researching and asking the right questions of your appraiser. First, not all appraisals have the same purpose or cost so
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