Commercial mortgage loans are executed using real estate to collateralize the loan. Commercial mortgages are similar to residential mortgages, except that the collateral used to secure the loan is a commercial (business) building rather than a personal residential home. If the borrower defaults on the loan, the lender can seize the collateral (building) to recover the loan proceeds.Commercial mortgage loans are not available to persons, but rather to businesses, which include partnerships, incorporated businesses, limited companies, etc. The business must be sound financially and the process to verify the business income can be more complicated than verifying the credit worthiness of a specific individual. That is why traditional commercial mortgages can take six to nine months to underwrite.Commercial loans are procured for a variety of reasons: to buy the premises of an existing business, to make improvements or enlarge existing premises, to make commercial and residential investments or to develop the existing property in other ways. An example would be to buy already constructed business premises, like offices, shops, restaurants, or pubs. Additionally, they can also be used to buy business assets such as plant equipment and specialized machinery.The Interest rates for commercial mortgages are generally higher than those for residential mortgages but lower than interest rates on unsecured business loans. A fixed-rate loan is the most common commercial mortgage. It is similar to the fixed rate home mortgage loan in that the interest rate remains constant throughout the term. However, the term for most commercial mortgage loans is between 3 and 10 years but they can be extended for as long as 25 years.The commercial mortgage loan amount and interest rate that you can receive is a direct correlation of the credit worthiness assessed by the lender with respect to your ability to repay the loan. If you have an excellent business record with a verifiable profit and loss business statement then you will have little trouble getting a commercial mortgage at an attractive interest rate.Commercial loans are not provided without extensive scrutiny regarding your business stability and profitability. The Lender usually wants to see your last three years of audited financial statements including a Profit and Loss statement, balance sheet and a cash flow forecast. Favorable business information is critical to the lender and to you because, as stated earlier, if you default on the loan the lender can repossess your property and sell it to repay the outstanding mortgage balance.The best place to find commercial mortgage loans is on the Internet. There are enormous numbers of commercial lenders vying for your business and they all advertise on the Internet. It is possible to compare many loan quotes side by side and determine which is best for your financial situation.
Improving Access Database Systems
Improving Access Database SystemsAn existing Access database software system may not be able to cope with the growing administrative requirements of a company. The inadequacies may relate to increased volumes handled, additional functional requirements or new company directions.A decision then needs to be made on how to improve the software to achieve the required quality and functionality. The choice is between two development options – Evolutionary development or Revolutionary development.Here is a brief summary of the differences between the two options:Development by EvolutionThis is the low risk choice – but not a glamorous choice. It involves adding small and frequent improvements to an existing system. It is a reliable and systematic means to improve an existing system. It could be thought of as an extension of the maintenance mode, but goes further than just fixing critical bugs.The Benefits are:
It is a low risk strategy
The cost of the strategy can be tightly controlled
It is always of value to build on proven work of the past
The downside is:
The system may be slow in showing results
The enhancements may be hard to implement due to the existing code
There may be technical limitations in the software that a step-by-step approach cannot resolve
Development by RevolutionThis is a high risk strategy – the failure rate of new projects is very high. So there should be sufficient incentive to go down this path. It involves completely rewriting the system using new and promising, but usually unproven technology.The benefits are:Improving on antiquated coding techniques
Greater awareness of user requirements due to the known inadequacies of the existing system
New administration and management functionality
Incorporating the latest techniques and software technologyThe downside is:The old system and the new system must run in parallel until the new system is proven to be at least equal to the old system
There needs to be multiple attempts when converting the old system to the new. This is needed to allow the users to check the consistency between the two systems at each new release
Extracting the business rules from the code and the user interface may be near impossible
The new system may be unstable for a lengthy period of time
There may be resistance from the users
Success depends upon the quality of the new development team. If they are lacking in experience or foresight or competence, the project is doomed from the start
Despite all the advances in system design and development tools, the complexity of new systems remains. The success rate for new projects is low
An unsuccessful project could have a negative impact on administration processes
An unsuccessful project could affect the viability of the company
If development is started from scratch, a valuable and costly asset will be thrown awayGathering Application RequirementsIn most cases the original specifications are nonexistent, as are their authors. Where the original specifications are available, they will almost always be out of date, with the successive changes over the years. If the analyst is unable to extract information from the old system code (and this is usually the case), there is nothing left but to try understand the business processes from esoteric code, low-level users and ill-informed managers.To develop a software package, the analyst must identify the needs of the company. This is difficult as the analyst is unlikely to understand fully the company’s work practices, or the terminology of the company. There is also the likelihood that management and the users do not know exactly what is required.Extending the life of the systemMany books have been written about the development of new computer projects, so I will stick to ideas to improve existing software.The Evolutionary improvements should:
Improve the quality of the system, by adding error handling routines to each and every procedure. When an error is trapped, all possible clues should be extracted to help identify and solve the problem
Make the system more user-friendly
Create reusable modules for repeatedly duplicated code
Simplify convoluted and spaghetti code
Gradually replace system functionality with newer technology
Use refactoring of the code to extend the system life span. This will improve the readability of the code, remove dead code, make the code easier to comprehend and maintain.
If the decision is made to try this option, and it turns out to be not feasible – little will have been lost.Professional AdviceA word of caution. Many programmers and consultants will go for the system rewrite option with new software and new technology. It is more fulfilling and improves their future prospects – it is in their vested interests to go for this option.Upgrading Microsoft Access softwareNewly released Microsoft Access software versions soon become dominant. It is then virtually impossible to purchase the previous version – and a database system could soon be using obsolete software.There is always good reason to use the latest Microsoft software, not only because of the additional functionality, but also to avoid security issues and problems with procedures that no longer work on newer Windows operating systems. There is equally good reason not to use the latest software too soon. The best option is to wait until a few service packs have been released to ensure the best chance of a problem free upgrade.Ignoring successive new Microsoft Access Database version updates is false economy. Sooner or later your Microsoft Access application will have to be replaced or the Microsoft software upgraded by multiple versions. Either way, this will be costly. The skills required for upgrades are soon forgotten.
Two Tips to Create and Start a Profitable Business Online
The Internet has become a great place to make money. Many people are establishing an online business that will help them to supplement their household income or have it become their main source of income. Freelance writers often fall into this category; after all, they write their own work and turn it into a publication, hoping that it gets published.Writing can be fun but it’s not always gratifying monetarily. It doesn’t provide a person with the stable income that many people seek and desire. Freelance writers who work from home but haven’t considered taking the business online are changing their minds. Those who decide to start a profitable business online with the freelancing business and do well hardly ever look back.Do you feel like doing the very same thing? If so, then read below for some helpful tips that can help you start a profitable business.Tip 1 – Choose What Profession You Wish To DoThis tip may seem obvious but it must be said; you must know what you would like to do for an online business. There are several things that can be done; some of the more popular methods include:- Blogging- Freelance Writing- Internet MarketingKeep in mind that everybody’s path is going to differ. Whatever path you take to start a profitable business will be different from a friend’s online business path. Consider what your business is currently. If you’re selling your items at a bazaar, consider turning to the Internet and create a website to begin your online business venture.Before you make just any kind of website, give it some major thought. Do something you believe would be fun and enjoyable and go from there. Consider your hobbies; think you can make it a worthwhile business? Perhaps you like to write or blog… why not those to start a profitable business?Create and Write Out Your Business PlanA very important step to putting together an Internet business is creating and writing out your business plan (actually, any business needs to have a plan). Many people tend to procrastinate in this area and can actually hinder how well they do initially. Don’t make this mistake.This plan can be simple in design or complex… the choice it yours. However, it must clearly state your goals and have a step-by-step plan as to how you’ll achieve those goals. For instance, what are you hoping to come out of your business? How will you go about promoting it? These are just two of the many questions you should have answered with your plan. If you need help in creating your plan, consider doing an Internet search. There are many websites available for this very thing.Four Steps To Promote The BusinessRemember, it’s not enough to start a profitable business; you must get the word out that you are there. Promoting the business is essential and it must be ongoing. How do you go about doing this? Here are four steps to get this done.- First, create a website for your business and explain about what it is you do. If you are selling a product (or products), design yourself an eBay store or create a catalog.- Second, write up a press release that will announce the date your website goes online.- Third, submit your blogs or website to directories.- Fourth, start getting backlinks. This means you’ll need to do link exchange, article marketing, hub pages and much more just to get the word out.Remember that how you start a profitable business is going to be different than everyone else’s. Just remind yourself time and again not to give up. Put the above steps to work for you and make your online business grow.