Archive for the 'Brokers' Category

6-Effective Ways To Shop For A Personal Loan

Wednesday, September 6th, 2006

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Shopping for a loan is very similar to finding a new home to buy. Since they both are important financial decisions, it requires more than looking for the best rate or the easiest personal loan to qualify. Before you opt to take out a personal loan there are a few consumer smart personal loan strategies may consider adopting. Use the following strategies to fine tune your personal loan decision.

1. Know Your Credit Rating

Credit ratings qualify loan approval. Understanding how your credit rating will help a person qualifies for, Depending on a credit score, there are specific personal loans that are applicable to your situation. For instance, certain lenders specialize in extending sub-prime financing. (Sub-prime loans carry a higher interest rate).

2. Organize Financial Documents

For the loan shopper in need of a personal loan or debt consolidation loan, certain personal financial documents may be needed for approval. Generally, lending institutions request the following records:

* W-2 statements from the past two years
* Federal tax returns from the previous two years,
* Investment and mutual fund documents
* Current and recent paycheck stubs, d
* Records that demonstrate other financial sources (2nd job, commissions, interest dividend income, bonuses)
* Child support or alimony documentation
* Home and vehicle titles
* Any other assets

3. Know Your Assets

Before you begin shopping for a loan, understanding where you stand is the first step to take. The first question of consideration involves, how much loan you can afford. Add up your collateral. For example, if you have a home, car, and insured jewelry, these items are assesses to approve or calculate a loan.

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* Determine how much you need to borrow
* Review the current interest rates you are paying.
* Analyze how much loan payment you can afford.
* Remember to budget your consolidation loan with a breathing space or leeway. It will prevent you from falling prey to over-extending personal finances again.

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Another important step to include in your debt calculation is to tally all current bill obligations: housing costs, credit card debt, child support, car notes, alimony or student loans. Lenders believe that 36 percent of a person s debt should account for 36 percent of a borrower s pre-tax income.

4. Research Different Personal Loan Products

Since personal loans come in a variety of flavors, researching different products can help you find a loan customized to your specific financial situation. To gain a better understanding of diverging lending product terms vary, review glossaries and frequently asked questions (FAQs).

Various Classifications of Personal Loans

1. Debt consolidation loans allow the borrower to refinance or reorganize debt.
2. Mortgage a loan to purchase property
3. Mortgage refinancing a loan where the homeowner borrows money against the equity of their property to pay off bills, apply for a lower interest mortgage (Mortgage refis- are tax deductible).
4. Equity loans are lines of credit that can be taken out on a home with out affecting the state of the mortgage. (Depending on the terms of the financial institution, equity loans- are usually tax deductible).
5. Personal loans are all options you have to borrow money, and make one monthly payment until you are out of debt.
6. Secured personal loans are ideal for the consumer with collateral (in example: home, real estate property and certain specialty recreational vehicles can be used as collateral).
7. Unsecured Consolidation Loans are a personal financial solution for the consumer who does not have assets or own real property.

Advantages Versus the Drawbacks of Secured and Unsecured Personal Loans

Secured personal loans

Advantage:

* Lower interest rate on the loan
* Ease in borrowing money
* Smaller Monthly Payments

Drawback:

* Longer repayment terms
* Risk factor involved in losing property

Unsecured personal loans

Advantage:

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* No risk in losing assets
* Condensed payment terms

Drawback:

* Higher monthly payments
* Heftier interest rates

5. Search For a Personal Loan

Selecting the perfect lender requires shopping around with various lenders. Obtaining quotes of lending products available for your financial leads will enable you to make the best personal loan decision. Remember to pose questions regarding the penalties, surcharges and costs for getting the loan approval.

6. Choose a Lender

The final step to obtaining debt relief starts with the selection of a respected lender. Although the choice may be a bit challenging, consider the terms and risk factors involved with each personal loan opportunity. Remember, just because a personal loan comes with an ultra low interest loan doesn t mean that it s the best loan.

The four Steps for debt consolidation loans Includes the following:

1. Applying for the loan
2. Loan approval
3. Modify your budget as debts are paid-off
4. Avoid accruing more debt during the consolidation loan process

About-Personal-Loans.com. All rights reserved.

About the Author

Holly Bentz is a finance writer and a contributor to About Personal Loans.

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Get A Home-based Business Loan Without A Business Plan

Friday, September 1st, 2006

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The phenomenal emergence of home-based business ownership has been astounding. The Small Business Administration (SBA) projects that by 2007, there will be over 2 million small business firms.

Trends indicate that entrepreneurship is quickly becoming a fabric in American cultural. Yet, while there are many opportunities for securing personal wealth through business ownership, access to capital continues to be a hurdle for most start-up companies.

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Thanks to a new small business initiative, the hurdle has become a little less painful. Through the SBA CommunityExpress loan program, start-ups and existing businesses alike can apply for a “Small Office/Home Office” (So-Ho) loan without a business plan.

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Loan amounts are available for $5,000, $10,000 and even $15,000 and no business plan is required. This may not seem like much to some business owners, but the most successful companies have started out by getting micro-loans. In fact, the SBA cited that most homebased businesses required $10,000 or less to get started. Examples of companies that started with less that $25,000 include Ben & Jerry’s, Fedex and Tom’s of Maine toothpaste.

It doesn’t matter if you want to start a daycare center, desktop publishing firm, or barbershop. These mega success stories are a constant reminder that small beginnings can indeed lead to greater rewards.

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About the Author

Karen L. Hardy, holds a M.S. in Business Administration. She is a certified business finance consultant, real estate investor, entrepreneur and author of the book “Destiny Dreams Decisions: Empowering Women for Success.” Visit her site http://www.destinycapitalfunding.com to apply for the loan.

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Pilots - What Are They Earning?

Monday, August 21st, 2006

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PILOTS - WHAT ARE THEY EARNING TODAY?

Contributed by Julia Dean, www.AirlineJOB.net

DO YOU WANT TO BE A PILOT IN THE UNITED STATES?

I receive many emails requesting information about becoming an airline pilot in the United States. This article addresses many of the general questions I receive about types of pilot careers, salaries, FAA requirements, training, advancement opportunities and the employment outlook for pilots in the US.

(Please note that the commercial pilot industry is very competitive,
particularly since 9/11. The information gathered for this article was sourced mainly from government labour research organizations, noted at the end of the article).

TYPES OF PILOT CAREERS

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There are four general types of pilot careers:

1. Commercial Airline Pilots

2. Agricultural Pilots

3. Helicopter Pilots

4. Photogrammetry Pilots

COMMERCIAL AIRLINE PILOTS

4 out of 5 pilots Commercial Airline Pilots in the US are responsible for
transporting cargo and/or passengers. The other 20% of commercial pilots
have positions involved in search and rescue, testing aircraft, flight
instruction or examination, monitoring car traffic or tracking criminals.
Some commercial pilots also fly agricultural planes, described below
in more detail.

There are generally three categories of careers for commercial airline
pilots: the Pilot, or the Captain is the most senior officer and supervises
the flight crew; the Co-Pilot, called the First Officer, who assists the
captain; and the Flight Engineer, or Second Officer, who assists the other
pilots and performs such tasks as monitoring and operating instruments.
Most aircraft fly with only two pilots as computerized equipment is
replacing the need for flight engineers in modern, more sophisticated planes.

About 75% of pilots fly 75 hours a month, and spend about 75 hours
completing non-flying work responsibilities. About 25% of pilots work more than 40 hours per week.

AGRICULTURAL PILOTS

Agricultural Pilots fly helicopters or airplanes and are typically responsible for dusting crops, distributing seeds for reforestation, fighting forest fires, inspecting pipelines, or distributing fish into lakes.

HELICOPTER PILOTS

Helicopter pilots provide a variety of services working for businesses and
government. Areas of specialty include traffic monitoring, oil and gas
exploration, pipeline monitoring, logging, construction, agriculture, search and rescue, emergency medical transport, law enforcement, and
newsgathering. Other helicopter pilot positions are available for corporate
or travel charter.

PHOTOGRAMMETRY PILOTS

Photogrammetry Pilots specialize at flying at specific altitudes and speeds suitable for aerial photography. Aerial photography is used for mapping the earth s surface, real estate purposes, and business or government research requirements.

PILOTS - WHAT ARE THEY EARNING TODAY?

The median annual income of all commercial pilots in the US is $43,300. The highest 10% of earners earned more than $92,000 and the lowest 10% of earners made less than $24,000.

Pilots salaries vary widely depending on the aircraft used, the number
of hours and miles flown, and whether or not the pilot works for an airline.
Earnings for airline pilots are among the highest in the country.

The median annual income of commercial airline pilots is $110,940, and
over 25% earned more than $145,000. The lowest 10% of commercial
airline pilots earned less than $36,110. Senior pilots are among the highest paid earners in the US.

In addition to traditional income, pilots earn a “per diem” or expense
allowance for every hour that they are away from their base city.
This per diem can be up to $500 per month. Further, pilots and their
immediate families also enjoy the benefits of significantly reduced air
travel and hotel accommodation rates.

UNIONS

Greater than 50% of all aircraft pilots in the US are union members.
The majority of pilots that are employed by major airlines belong to the Airline Pilots Association, International, or the ALPA. However, those employed by one national airline are members of the Allied Pilots Association. Additionally, some flight engineers belong to the Flight Engineers’ International Association.

Flight route assignments are based on seniority of union membership.

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FAA REGULATIONS - WHAT YOU NEED TO GET HIRED

To be employed as a commercial pilot in the United States requires a
Federal Air Transport rating and certification for the specific type of aircraft being flown. Helicopter pilots must also be rated and have a commercial pilot s certificate. Applicants for these licenses must have a minimum of 250 flight
hours of experience and be at least 18 years of age. In addition, candidates
must pass a physical examination that ensures that they are in good health
and that they have good hearing and 20/20 vision either with or without
glasses.

The written test for a pilot s rating includes questions on FAA regulations, the principles of safe flight, and navigation techniques. The certification also requires pilots to demonstrate their flying ability to FAA or FAA approved examiners.

To fly during times of low visibility, pilots must be rated to fly by instruments alone. To qualify for this rating, pilots must pass a written test and are required to have 105 hours of flight experience that includes 40 hours of experience flying
exclusively by instruments. This certification requires pilots to demonstrate their ability to fly by instruments alone to FAA or FAA approved examiners.

Commercial Airline pilots have additional licensing requirements. First, airline pilots must have a transport license, which requires applicants to be at least 23 years
old and have a minimum of 1,500 flying hours of experience. This experience must include instrument and night flying. Additionally, airline pilots must pass written and flight examinations.

Second, airline pilots are usually required to have one or more advanced ratings, such as an aircraft type rating or a multi-engine aircraft
rating. This second qualification criteria is dependent upon the types of aircraft the pilot is flying and/or the type of pilot job.

Pilots licenses or ratings are valid as long as the pilot passes the period physical exams and flying tests that are required by the Federal Government and the airline company regulations. Medical certificates are issued in 3 classes. A class l certificate
is the most rigorous, and requires the highest levels of vision, hearing, equilibrium and health. The Class ll Medical Certificate has less stringent requirements, but still demands a high standard of general health and an excellent medical history. The
least rigid classification is the class lll Medical Certificate.

FAA REGULATIONS LIMITING MONTHLY FLIGHT HOURS

Legally, pilots are not allowed to fly more than 100 hours in any given month, and no more than 1000 hours in any given year. In addition, pilots must be allowed at least 8 hours of uninterrupted rest in the 24 hours before finishing their flight duty.
The FAA requires airlines to provide pilots with this rest period to guard against excessive fatigue that could result in an unsafe flight.

TRAINING

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There are approximately 600 civilian flying schools in the US that are certified by the FAA. Some colleges and universities also offer FAA certified pilot courses that offer
degree credits. In addition, the Armed Forces is a large source of trained pilots for civilian pilot careers.

ADVANCEMENT OPPORTUNITIES

Many new airline pilots start out as flight engineers or first officers with smaller or regional airlines. Advancement for many pilots may involve transferring from a small
airline to a major carrier. However, advancement is typically dependent upon seniority. Flight Engineers can advance according their seniority to First Officer positions after
1 to 5 years of experience. After to 5 to 15 years experiencing, they can advance to Captain positions depending on their seniority.

Some pilots advance to managerial positions, while others advance based on seniority to larger aircraft or better routes or a preferred home base location. Agricultural Pilots can advance into management jobs or become self-employed as independent
contractors.

PILOT EMPLOYMENT FORECAST

The number of job opportunities for pilots in the US is expected to grow about as fast as the average of overall employment growth from 2003 to 2010. However competition
for jobs will continue to be high. Causes that slow growth are a function of mergers and challenges in the airline industry. In addition, advancements in technology reduce
the need for Flight Engineers, and video conferencing and teleconferencing reduce
the need for business travel.

Some industry analysts predict the need for 27,000 new pilots between 2003 and 2010 as a result of retirement. Many of the pilots who were hired in the 1960 s are now
reaching mandatory retirement age, and thus a few thousand job vacancies are
expected to arise each year for the next several years. Note that not many pilots retire early because of the high earnings and benefits, and the fact their unique skills are not generally transferable to other careers.

The employment of pilots is sensitive to changes in the economy. Airlines are forced to furlough or temporarily lay-off pilots during periods when the demand for air travel declines. At times of recession, pilots employed in commercial or corporate flying and
flight instruction are adversely affected by the downturn in the economy.

THE BEST JOB PROSPECTS

Pilots that have the most FAA licenses and that have logged the most number of flying hours on sophisticated aircraft will generally have the best job prospects. Military pilots typically have more experience and licenses than other pilots, and
thus have more job opportunities.

It is forecasted that the greatest number of new job openings will come from the regional passenger and cargo airlines, and international carriers. The industry will likely experience a need for more airlines, pilots and flight instructors.

It is also expected that there will be an increasing need for pilots that operate single engine airplanes because more businesses are chartering private aircraft.

Note that women make up approximately 25% of the total number of people employed as pilots in the US and this figure is expected to increase.

WHERE ARE THE PILOT JOBS?

The majority of pilot jobs in the US are located in cities with major airline hubs. Most positions are concentrated in Texas, Georgia, New Jersey, New York, California,
the District of Columbia, Michigan, Illinois, Washington and Florida. These regions generate the most flights relative to their population size.

By Julia Dean, MBA
President, www.AirlineJOB.net - Helping people get airline jobs faster

AirlineJOB.net tracks jobs for 108 airlines and typically has over 1,200 currentairline job postings, including commercial pilot jobs. Visit www.AirlineJOB.net and sign up for free “Airline Job News”, a bi-monthly newsletter that answers readers questions about airline jobs, and that always includes at least 2 free
airline job postings.

SOURCES FOR THIS ARTICLE:
Bureau of Labor Statistics, U.S. Department of Labor http://www.bls.gov/oco/ocos107.htm
CPTC
ICPAC
California Employment Development Department

Research & Analysis Bureau Providing Labor Market Information for the State of Montana

About the Author

Julia Dean is a professional researcher and copywriter, and the President of AirlineJOB.net, a web portal for airline job seekers.

Julia is the author of THE AIRLINE JOB GUIDE and the free bi-monthly e-zine, “AIRLINE JOB NEWS”

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