Commercial Mortgage Loan Calculator Uses

Commercial mortgage loan calculators can help you figure out how much you can borrow and what your payments will be on commercial space.You can find many real estate mortgage loan calculators available online. Before you plug in your numbers in a mortgage loan calculator, be sure you’re looking at the right type of calculator. There are many calculators online that are specifically made for residential real estate loans. While these can provide some guidelines on what you can expect to pay, they are not specific enough for business real estate.Banks often have different rates for business real estate. They will consider additional factors in determining the rates of your loan which aren’t applicable to residential real estate. You may also pay a different interest rate on a commercial loan than you would on a standard real estate loan.To get a commercial real estate rate online, you’ll need to enter the amount of the loan, the interest rate and the length of repayment into the calculator. You will also need to choose whether you’re looking for a fixed rate, adjusted rate or balloon payment option. These factors will all determine how much you’ll pay per month for your loan.Advanced commercial mortgage loan calculators will give you extra details on your loan. Using a commercial mortgage calculator can give you a view of different options available for your needs. A commercial mortgage loan calculator can only give you a snapshot of what is possible with your loan.For a more accurate rate, you’ll have to meet with a real estate professional. However, when you use an online mortgage calculator, it can help you narrow down your options and figure out the range that you’ll be looking at for a commercial loan.

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What To Consider When Applying for a Payday Loan

When considering the option to apply for payday loans, borrowers have to consider all potential lenders they are considering, and which lender is going to offer them the best terms on the loan they are planning on taking out.From the interest rates, to the time allotted to repay the loan, to the loan amount you are looking to borrow, all factors have to be weighed in deciding to apply, and when choosing the payday lender of choice, when you decide to apply for your loans online.The more lenders a borrower considers, and the more lenders they decide to compare prior to applying for the payday loans, the better the terms they can expect when the time comes to repay the loan.In deciding on the payday lender, borrowers have to consider:- how much they need to borrow;
- what repayment terms they need (as far as how long they are going to need to pay the funds back);
- why they plan on borrowing the money (if the payday lender inquires as to what the funds are for);
- whether or not the lender requires you to file a credit report, or whether they check your credit scores prior to approving the loan;
- what the interest rates are on the loans being borrowed; and,
- any other issues or important terms the borrower is concerned about, when they choose to take out payday loans from an online lender.Taking the time to consider each of these factors, compare various lenders, and learn as much as possible about the loans which the borrower is interested in taking out, will all play in the borrowers favor, and will ensure they are going to get the best terms when they finally do apply for the loan, with their choice payday lender.Loan Terms; What to KnowIn addition to getting the best terms on the loan, a borrower who chooses to compare lenders prior to applying for their payday loans will also find they are going to be able to take out the full amount of the loan they need. In many cases, a borrower will request a higher loan amount, whether it is to pay their rent, or to pay a couple credit card bills.For this reason, the borrower has to make sure that the payday lender they are choosing allows for higher borrowing limits, and does not charge a fee for taking out a higher amount when borrowing the payday loans.Comparing LendersThe only way to be sure of this, is to compare lenders, learn what terms they have set forth, and learn about the amounts they wish to borrow, prior to filing the online application.As a borrower, it is wise to get as much information as possible, when choosing to apply for this type of loan. Due to the fact that you are paying a higher interest rate, and are going to be limited in certain aspects as far as the repayment terms, learning as much as possible about your lender, is going to prove to work in your best interest.For those borrowers who are in need of cash right away, the option to take out payday loans is one to consider. There are several lenders, both online and locally, depending on where you live. Each lender is going to have their own terms on the loans, interest charges, repayment terms, and other factors in relation to borrowing.Also depending on where you live, these variables could also be drastically different. Always do your research and you will be in the loop when it comes to making an informed choice.

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Guide to Employment in Spain

Just as in the UK and most European countries, taking on staff in Spain means a sharp increase in the amount of risk and bureaucracy involved in the business. In general Spain has lower wages but more bureaucracy and non-wage costs. The risks and costs must be understood and minimised prior to taking on staff to avoid nasty surprises and burdens which can threaten the success of the whole enterprise. This article looks at the main features of employment law and hiring staff in Spain and discusses some of the ways of mitigating the risks.Employment law – the basicso Employees must have employment contracts from their first day of employment. If you are using British expat staff they should have their NIE and residency documents (for advice on how to get a NIE number see below)o Minimum wages and employment conditions such as disciplinary procedures and holiday entitlement are set by “Convenios Colectivos” in different sectors and regions e.g. hotel and catering trade works in Malaga province.o There are a variety of contract types but essentially the choice is between offering a fixed term contract or a permanent contract. Contracts can also be tiempo completo (full time being usually 40 hours) or parcial (part time). In the latter case wages are scaled down according to a weekly number of hours stated in the contract. There are some special contracts with government tax incentives to take on for example unemployed workers or women in sectors where they are underrepresented.o Redundancy pay is payable once an employee has served a year and can be up to 3 ½ year’s salary (it goes up 45 days a year served, although this can be less on the incentivised contracts).o Expect to pay approximately 40% of the basic wage in non-wage costs, mainly being employer’s social security contributions which are very high in Spain though some incentivised contracts reduce this cost by up to 75%.o The employer is responsible for deducting employee national insurance contributions (approximately 6% of pay) and income tax, similar to UK PAYE, from the monthly wage or “nomina”. A full analysis of the employee’s wages and deductions for the month must be presented to them and a signed copy kept by the employer.o Other employee rights: normally 23 days a year holiday entitlement plus national and local fiestas (depends on the Convenio as employees in certain sectors expect to work holidays but are compensated elsewhere). The employee can chose to have pay spread over 14 instead of 12 times a year with additional pay days in July and December. Maternity leave is 4 months and there is other time off built in for marriage, deaths, births and moving house. Sick pay is usually paid by the social security system.Employing staff – the risksBreaking the lawAs a foreigner setting up a business in Spain it is important to understand the rules and regulations governing employment and attempt to stay within them. Falling foul of the law can lead to heavy fines and the authorities are strict because they know abuse is widespread. For example if you have an uncontracted worker helping you out during an unscheduled visit from government inspectors do not expect to be able to use an excuse even if the “helper” is a spouse.Under-appreciating employee rightsAs we have seen the main effect of the heavy regulatory framework, the tax laws and the Covenios is to protect and promote the rights of the employee. It is the employer that pays the price for this, perhaps not in terms of basic wages which are still lower than in many European countries, but in terms of non-wage costs and employee rights to severance pay and other benefits. Possibly the biggest risk to a small business is taking on staff on the basis of a headline wage and not appreciating the additional burdens of being a Spanish employer, particularly when offering full time permanent contracts.Cashflow and profitability implicationsIf you fail to understand and then budget for paying all associated employment costs at the right time, there is a real danger of cashflow difficulties or profits being eroded. Salaries are paid monthly in arrears and national insurance a month later. Income tax withheld from employees is payable at the end of each quarter which can be a nasty shock for the uninitiated. As has been mentioned severance pay can be substantial.Risk mitigation: smart staffingThe most important thing to do is to think before you take on potentially expensive commitments and take professional advice. Many firms including mine will give new businesses some free advice before they begin operating and offer comprehensive payroll and employment services when they do.Many businesses in Spain avoid some of the costs and burdens of employment law by going “black” and paying workers cash in hand. This is of course risky as it is fairly easily detected by government agencies particularly if the “employee” has no contract whatsoever. If an employer gives a part time contract to staff actually working full-time and then tops up the wages in cash this is harder to detect but still carries a risk.A smarter approach is to take advice on the different contracts available and match the commitments you are making to staff with how definite you are about future income levels. Use can be made of temporary contracts or those that attract government subsidy. Another option is to make some of your “employees” actually self-employed, where they register independently for social security and tax but work solely for your business. For details see of social security implications see:

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