How a Commercial Lawyer Can Help Fund Your Business

If you’re starting a small business or start up company, you might question the need for legal assistance. Guidance is available online, through the Citizens Advice Bureau and the government’s own website in an easily digestible form, which should give you everything you need to set up and run your own business while avoiding any legal pitfalls.

Unfortunately, there is a reason lawyers are highly qualified and in demand professionals: they provide a very valuable service that repays any investment you are able to afford to make in it. To help you see the sunny side of partnering up with a commercial lawyer, here’s a guide to how they can help your business get its first round of funding.

Funding Masters

One of your first and biggest challenges is securing the funding you need to set your business up. An experienced business lawyer will be invaluable here. They’ve worked with many other entrepreneurs in the same situation and know what has worked in the past, and what appeals to funders. They can help you optimise your presentations, depending on whether you are going to a bank for a traditional business loan or seeking funding from so-called Angel Investors to launch your company.

While you might be a specialist in the field you’ve chosen to start a business in, you may not necessarily be experienced in negotiation, so your lawyer can act as advocate for you in the negotiation process to make sure you get the funds you need, without surrendering your control of the business to an investor who wants a say.

A lawyer who’s been working in the commercial field for some time will have a good set of contacts, which as a more fresh faced entrepreneur you may lack, and will be able to connect you with the investors who are most likely to put money into your venture. They’ll also be able to warn you away from attractive looking funders who have a reputation for underhanded play or pressuring less experienced business owners.

Having an experienced business lawyer involved in your pitch is an extra vote of confidence for investors. They allow you punch a little above your weight, especially if you are just starting out, and by extending to you a little of their reputation allow you access a better level of funding and a more exclusive level of investment than you would ordinarily have access to.

Different Loan Options and Their Requirements

There are many reasons that people apply for a loan. You may need a loan to buy a home or car, to cover tuition or medical expenses, or simply to pay off an outstanding debt. Whatever your reason, there are a wide range of loans available and understanding the differences and requirements for approval will save you time and energy.

Mortgage

A mortgage falls into a closed loan. This type comes generally from a bank, a sub lender, or through the government in the form of an FHA or VA loan. Mortgages offered through a traditional bank have higher standards and requirements that you must meet in order to get an approval. They require a credit score on the high end of the 600s but mostly prefer people with a credit score that exceeds 700.  If you go through a sub lender or the government, you can qualify for a home loan with a score of 580 or more.

Home equity loan

A home equity loan is a loan available to homeowners who have equity in their home. There are two types, a straight home equity loan and a home equity line of credit. A bank issues the money from a home equity loan in a lump sum with a repayment of monthly fixed rate payments. A home equity line of credit is a revolving line of credit with a variable interest rate that you can use and then borrow again once you pay some of the balance off. If you should decide to sell your home while you have the loan, you will need to pay it off prior to your closing.

Personal loans

A personal loan issued through a traditional bank requires a source of collateral, generally a home and an excellent credit score. If you don’t own a home or have a fair or poor credit score, there are various types of other personal loans offered through online lenders where the line of credit loan requirements that are less stringent. They generally require only that you have a steady paycheck, a checking account in your name, and a social security card.

Car loans

It used to be that you could only get a car loan if you had a good credit score. Today, that’s changed. More banks realize that many people have a mark or two against them for reasons that were out of their control. You will pay a higher interest rate than if you had good credit, but if you pay the loan on time for a year or so, you can refinance it through another bank at a much lower interest rate.

Consolidated loans

A consolidated loan is for the purpose of paying off your outstanding debt and then consolidating it into one affordable payment. For many people who own a home, this provides an easy way to free up hundreds of dollars from their budget each month. There are several different types of consolidation loans available, including secured, unsecured, and a student debt consolidation loan. The secured requires the use of collateral, generally a home. Whereas, the unsecured loan bases it on several other factors including your credit score and income and, because there’s no collateral, has a higher interest rate.

Short-term loans

Most times, a short term loan is very easy to acquire. The requirements are much more lenient than that of a traditional bank. A short term loan can range from several months to several years. The downside to acquiring one of these versus a personal loan from a bank is that the interest rates are generally much higher. These type loans offer someone with mediocre to poor credit the chances to pay off debt, cover repairs and other expenses.

Before borrowing any money from a bank or another lender, make sure that you carefully calculate your budget to make sure that you have the money coming in each month to accommodate another bill. If you don’t, then taking on more debt is only going to make your situation worse.

Insurance Policies that Everyone Must Have

You can insure pretty much anything, but should you? Not necessarily. Some people need life insurance while others might not be ready for that. Some insurance is not needed by the average person, such as credit card insurance or life insurance for a child. However, there are a few different insurance policies that everyone should have regardless of their life circumstances. Here are a few types of insurance policies that should be considered mandatory.

Health Insurance

Everyone out there should have health insurance or risk not being able to pay for medical bills when the time comes. It’s inevitable that at some point there will be some sort of health care that you need to pay for. It would be awful to end up in an emergency situation where you were unable to pay for a service that you needed. But besides emergency situation, needing insurance is also relevant for common life events.

Any situation where a doctor’s advice or treatment is needed counts as medical care. Pregnancies, needing glasses, etc. Our bodies can naturally change throughout the years. Healthcare of any kind simply costs money. Luckily there are plenty of health insurance plans that can be obtained for reasonable prices. These can fit any budget. The fees for not having health insurance are only getting higher. It’s not something to put to the side and hope for the best.

Auto Insurance

If you own a car you absolutely need auto insurance. In this case being without insurance puts you at a very high risk. Getting in an accident without insurance might leave you with very high bills to pay. That might mean covering your own car as well as someone else’s. You might be able to get away with not replacing or fixing your own car. But you won’t be able to do the same if you owe someone else the same courtesy. In the event of injury when an accident is found to be your fault there might also be medical bills to contend with as well. It’s better to be covered and then you’ll never have to worry about it. Check out Auto Insurance Toronto & Shop Insurance Canada to find the best rates with the right coverage. You might never get into an accident and maintain a perfect driving record, but it’s still best to be covered each and every day.

Homeowners Insurance

If you own a home you should absolutely have homeowners insurance. But the bank will actually make sure that you do, since taking out a loan to cover a home means that they have a strong investment in the future of the home. If for some reason you cancel your homeowner’s insurance or fall behind on a payment, the bank will start coverage with their own insurance without delay. Then they’ll send you a much higher bill for having to do so. It’s smarter to find the best policy for you and your home and then keep up with your payments to avoid any extra fees. Once you pay off your mortgage the bank no longer has an investment in that decision. But it is still considered the right choice.

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Can Medical Cannabis Users Become Dependent?

More states are legalizing recreational and medical marijuana, which is making the topic of dependency come up in more conversations about pot. Critics want to know if we’re heading in the wrong direction, making it easier for people to get a substance they will get hooked on. Some even hold a hard stance that marijuana is addictive and that we’re bound for more troubles when it comes to drug addiction.

If recent elections offer any indication of where the country is going, it’s safe to say that it’ll get easier to obtain marijuana in coming years. Will drug addiction skyrocket because of it, or even drug usage? Probably not in both cases, say the experts.

Is Marijuana Addictive?

Before we talk about dependent medical cannabis users or even dependent recreational cannabis users, we need to discuss whether or not marijuana is even addictive. Since cannabis’ withdrawal symptoms are slight compared to other drugs, some people have the false notion that it’s not addictive at all. Individuals who quit other drugs typically have strong cravings, irritability signs and even negative physiological symptoms. While this isn’t usually a factor when someone quits marijuana, it can still be addictive for some people.

What is Addiction?

Addiction is typically referred to as a behavior that’s compulsive and without control, either partially or completely. When one is addicted to something, there can be a physical dependency or a psychological one. Generally, addictions come with an experience of physiological or mental withdrawal symptoms if the action is stopped. A person can be addicted to marijuana, a harsh drug or even something like gambling, which in and of itself isn’t dangerous.

There are many people who take prescription pain medications regularly but aren’t addicted, as there are individuals who smoke marijuana regularly who aren’t addicted. Someone who has a recommendation for medical cannabis should use the medicine responsibly and under the care of a doctor. If you have been recommended to have medical cannabis, Green Door West can provide you with marijuana delivery in West Los Angeles and throughout the LA area. Our cannabis delivery business serves many people who find the relief they need from medical marijuana.

Making Money to Change Lives

Improving the lives of the less fortunate should be a goal that everyone aspires to. But when time is short and funds are low, what can you do to lift others up without overwhelming yourself? Believe it or not, there’s a long list of easy-to-do ideas that can help you rack up much-needed organizational and supply funds for your favorite charities without making big financial mistakes. When the call for aid sounds, try answering with one of these simple solutions.

Raid Your Own Closet

From direct donations to a community clothes closet to local consignment stores to online clothes-selling sites, the pants, tops, and dresses you no longer wear could be a potential goldmine for a needy charity. To ensure the smoothest experience and the most money, make sure any clothes due to be donated or sold are washed well, don’t have any strong or unpleasant odors, and aren’t broken (articles with missing buttons, zippers and so on aren’t likely to be accepted).

For services like mail-in envelopes for online clothes sites, make sure you’re sending in a decent amount of clothing to get the best return on your work. Some people designate one or two days every year to gather up and send in their unwanted duds.

Not sure how to separate must-haves from the must-go pieces? On January 1st or any other day of the year, turn all of your closet’s hanger hooks the “wrong” way, with the hooked end facing you. As you wear and wash each item, hang it back up the “right” way. That way, you can look in your closet the following year and know that all the “wrong” hangers hold clothes that just don’t spark interest anymore.

Sell Other Items for Charity

With the rise of easy apps like the Facebook Marketplace Community, it only takes a few minutes and a cellphone with a camera to sell just about anything for cash. From leftover bags of mulch to an unused bicycle, with a little effort, anything can become a new source of income for your favorite cause.

Gather up several items at once and list them at the same time to increase your chances of one buyer snapping up multiple items, allowing you to make money with ease. Use clear photo shots (exhale just before hitting the shutter button to reduce blurriness) against a white background whenever possible.

If you prefer to use a more well-known platform for a large charity, the eBay Giving Works platform allows you to designate a percentage or whole of your item’s sale price to a registered charity of your choice. If you don’t have anything to sell personally, consider patronizing the charity directly by buying tickets to their events, bidding on silent auction items they may be selling, or purchasing necessary household items through a percentage-donation platform like Amazon Smiles.

Do a Shopping Assessment

Many companies have started noticing that people vote more with their dollars than ever before. Large chains like Target have started partnering with local charities and schools to donate a portion of sales proceeds in a given period of time. Even warehouse stores like Sam’s Club have followed suit, allowing customers to buy the items they need while supporting the charities they believe in.

If you’d like to put your money where your heart is, ask your cause if they’re partnered with any local businesses or store chains. If the answer is no, suggest a few popular businesses that offer this service and cater to fellow charity-lovers; not only will you be supporting them with your own purchases, you might just be helping them add up a windfall!

Use Apps to Search

Certain apps also allow you to connect your shopping loyalty cards to charitable causes, monetize your internet searches for spare donations, and so much more. If you’re going to spend money anyway, why not make sure that every dollar does some much-needed good?

If you’ve done volunteering and still wish you could do more, these ideas are a great way to make a huge difference. The financial needs of a charity are significant and varied, and chipping in with efforts like these can help take the pressure off of their bills.