Getting home health care for your elders is something that you might have to consider in the long run. After all, they would eventually need assistance with their daily needs. These days, it’s pretty easy to come across different options but you need to make sure that you are making the best decision.There are certain things that you need to keep in mind. First is that you should get referrals from people you know and within your own networks. This way you can consider their actual experience when it comes to getting home health care. The pros and cons they will share will benefit you.If you don’t have people in your circles, you can always do your own research and search for one on your own. The only thing you need to do is to log online and then the rest should be easy. The nice thing about doing your own research is that you can consider different sources.Make sure that you have a long list of options. The next thing that you should do would be to create your own shortlist. This is important, because through a shortlist you would be able to trim down your options and choose the best ones you would like to consider.As you create your shortlist, there are a few important things that you need to take note of as well. First is the location of the home health care center. You need to find one that suits you because of its proximity. This will also be an important factor in deciding the type of home health care you would get.Once you have considered the location of the care center, the next thing for you to decide on is the type of care that you would get. It might be helpful to try asking for your doctor’s opinion about this so you can get the care professional that would really suit the health needs of your elders.Of course, you shouldn’t forget asking about your elders’ opinion regarding the home health care professional. After all, you are going to get one for them. Make sure that they are totally okay with it before you make a final decision.Lastly, don’t forget to consider if your insurance can cover for the expense. This way you can also have this new benefit without it becoming a financial burden for you to consider.
Monthly Archives: May 2023
Current Issues That Kill Commercial Property Loans
Working on a commercial property loan? Below we discuss some of the most common issues that kill borrower’s commercial property loans and what you should watch out for. The last thing you want is to blow 4 months and $6,000 on third party reports only to have your bank “pass” on your loan request.ValueValue now tends to be one of the biggest issues with commercial property loans. As real estate values continue to decline in most sections of the county, and within all property types you should be very aware of what your property is now worth and what the maximum loan to value requirements are from the banks that you are considering working with. Loan to value is a ratio used to reflect how much equity you have in your property and how much equity you would lose if you walked from the building. For example, if your building is worth $1,000,000 and your existing loan amount is $700,000, your loan to value ratio is 70%. Obviously, banks want lower loan to value ratios as it lowers their risk. A more subtle issue here is if, or to what degree your bank will “tamper” with your appraisal report. It’s common that they will review the appraisal report and alter the value before it is reported to you (I am not implying there is anything illegal here). They will lend based on what they think it your property is worth. If your loan to value is high to begin with, you’ll need to know what their reputation is with this. You will only be able to find this out by working with experienced third party professional that have closed multiple transactions with the bank in question. The loan officer at the bank will not reveal this. A commercial mortgage broker will, as they get paid when your loan closes.Wrong Bank to Begin WithThis ties into above, but it’s never been more important to know how strong the bank really is and what their real appetite is for your commercial property loan. Most banks are now on the “sidelines” and not funding commercial loans. Many of these banks simply don’t have any money to lend and others are being conservative and want to see the general economy turn around before they start to lend again. However loans are still closing loans. It is imperative that you deal with the banks that are still actively funding loan requests. For example, SBA loans and the participating lenders have weathered the storm fairly well, as they were down by only 30% in 2008 from 2007. Compared to conventional or CMBS loans that have come to a screeching halt, this looks pretty good. The best way to know which banks are really interested in your commercial property loan and which ones will have the highest chance of closing is to get an unbiased third party referral. Talk to your CPA, Attorney or an experienced commercial mortgage broker (like us). Make sure that whoever you talk to has recently worked with the lender they recommend. When working with a broker, make sure they are experienced and have recently closed a loan with the bank.
Small Business Owner’s Personal Touch Helps To Compete With the Big Guys
Small Business is the backbone of this country. I shudder to think what our economy would be like without small businesses providing jobs and tax revenue in every city and town in the U.S.Many years ago, I worked with a woman who grew up near Louisville, Kentucky. One day, over lunch, we were reminiscing about our teenage summer jobs. Hers was working at her grandmother’s pizzeria.”Does your grandmother still make pizza?” I asked.She shook her head. A Papa John’s opened directly across the street. Grandma couldn’t compete with its lower prices and broader delivery area. Once Papa started taking orders online, it was all over. Grandma shut her doors and retired.Don’t Let the Big Guys Sneak Up on Your BusinessDon’t get me wrong. I don’t dislike Papa John’s pizza; it certainly tastes better than some of the other national chain pizza. But it was sad to hear how my colleague’s grandma was quashed by a growing chain.Do you worry this could happen to you? Are you challenged by the proximity of a national chain with more money to innovate and undercut you? Do you feel like the playing field is tilting away at greater angles?Don’t despair. Fight back with what makes you unique to your customers and reminding them about it-your understanding of their unique needs, and the fact that they are people, not accounts. Stress the importance of supporting local business, and practice what you’re preaching!
Every year, American Express sponsors a Small Business Saturday that usually follows Black Friday. If this or a similar campaign is in your community, join it.
Shop at local stores as often as possible. Resist big box stores except for items that really aren’t available anywhere else. When you shop at local places, you learn more about the local business community and who knows, you may gain new customers directly or by referral.
Redouble your customer service efforts.
The last bullet is very important. The big chains do emphasize customer service but you can stand out because you and your employees actually know your customers, assuming your turnover is lighter than the average Wal-Mart’s.Sometimes you have to say this a little forcefully, particularly when the competition is much cheaper or even free. Ask your friends to stop Liking free website building services, for example; while they may be free, the sites are rarely attractive or particularly useful. Legitimate businesses don’t sell a one-size-fits-all approach. But like you, they take the time to create customized solutions.Always remember this, “People do business with people, not businesses.” Probably the greatest advantage the small business owner has over the “Big Guys” is the business owner himself or herself. Take the time to come out from your office and meet your customers. Show some personality in your social media posts. People tend to know the name of the small business owners they frequently do business with. Anyone know the name of the CEO of Home Depot? If so, let me know in the comments below.Look for Small Business ResourcesIf money is a growing issue, I can understand. It’s been difficult for small businesses and entrepreneurs to get loans. Banks continue to sit on piles of money and have given many of us the cold shoulder.More options are surfacing for small businesses that need to upgrade equipment, move to better locations, or simply need access to credit in order to respond to unexpected events. Here are few trends I’ve noticed:
Crowdfunding is set to take off even if the SEC is slow to release rules about who qualifies for equity funding. Colorado and Arizona recently passed legislation allowing non-accredited investors to buy SMB stock or invest in them ($5000 in Colorado and $10,000 in Arizona).
Online loans from companies like Kabbage, Accion, IOU Central, OnDeck and Can Capital often talk about determining small business’ loan worthiness. These companies may be great sources of capital, but you want to look closely at the actual cost of the loan. Be sure you understand the interest rate and the loan origination fees, if any.
Mobile providers are abandoning long-term contracts after T-Mobile ended them in 2013. Many are setting up small business centers to cater to this previously overlooked segment.
Use tools developed for small business to help with your marketing and streamline your efforts to grow. Companies like Constant Contact and HubSpot really have the small business owner’s back.Of course, there’s always Shark Tank. Many businesses that don’t get an offer still benefit from the free publicity!Do you have anything to add to this story? If so, leave it in the Comments below.