In the event that you are in an announced disaster area and are the casualty of a calamity, you may be qualified for a low-interest rate disaster loan from the U.S. Small Business Administration ("SBA") - regardless of the fact that you don't claim a business. As a mortgage holder, tenant and/or individual property owner, you may apply to the SBA for a credit to help you recuperate from a calamity.

Tenants and mortgage holders alike may get up to $40,000 to repair or supplant apparel, furniture, autos or apparatuses harmed or decimated in the calamity. Mortgage holders may request up to $200,000 to repair or supplant their essential home to its pre-disaster condition.

The loan may not be utilized to overhaul homes or make increments unless as needed by neighborhood building authority/code. Loans may be expanded up to 20 percent of the aggregate sum of calamity harm to land, as checked by SBA, to make improvements that diminish the danger of property harm by future disasters of the same kind.

Secondary homes or vacation properties are not qualified for these loans. Then again, qualified rental investment properties may be qualified for help under our business loan program.

Any proceeds from insurance coverage on your property or home will be deducted from the total harm to the property to determine the advance sum you are qualified for. SBA is not allowed to duplicate any advantages or benefits.

For candidates not able to get credit somewhere else the interest rate will not surpass 4 percent. For the applicants who can acquire credit somewhere else, the interest rate will not surpass 8 percent. SBA figures out if a candidate has credit accessible somewhere else.

SBA offers loans with long-term repayments as a rule up to 30 years. Terms are determined on a case-by-case premise, based upon every borrower's capacity to reimburse.

For extra information, brochure, emergency essential, emergency preparedness, emergency plan for business, parent, kids, commuters, elders, disability please contact us.

Additional resources:

• Emergency Response Plan
• Business Impact Analysis Worksheet
• Continuity Resource Worksheet
• Insurance Discussion Coverage Form
• Program Coordinator Committee Worksheet
• Risk Assessment Table

Please contact us

Related articles:

1. Up to $US 2 million Physical Disaster Loan for Business Recovery Plan
2. Want to Learn more about Investment, Business, Finance and more…?
3. 6 Money Links DAJK GROUP Loves to Share

Frequently Asked Questions


How much can I borrow?

The amount SBA will lend depends on the cost of repairing or replacing your home and/or personal property, minus any insurance settlements or grants. SBA will send an inspector to estimate the cost of your damage once you have completed and returned your loan application.

Can the SBA refinance my mortgage?

In some cases, SBA can refinance all or part of a previous mortgage when the applicant does not have credit available elsewhere, has suffered substantial disaster damage not covered by insurance, and intends to repair the damage. SBA considers refinancing when processing each application.

How soon before I know I have been approved?

The SBA disaster assistance program helps with long-term, low-interest rebuilding and repair of damaged property, unlike immediate emergency relief provided by relief organizations. To make a loan, we must know the repair cost, be assured that you can repay the loan, and take reasonable safeguards to make sure the loan is repaid. The sooner you return the completed loan application, the sooner SBA can process the application. SBA tries to make a decision on each application within 14 days. Make sure the application is complete, since missing information is a major cause for delays.

What information must I submit for a home and/or personal property loan?

You must submit the completed loan application and a signed and dated IRS form 8821 giving permission for the IRS to provide SBA your tax return information.

Is collateral required for these loans?

Loans over $14,000 must be secured to the extent possible. The SBA will not decline a loan if you do not have enough collateral, but will ask for whatever collateral is available. That usually consists of a first or second mortgage on the damaged real estate.

Should I wait for my insurance settlement before I file my loan application?

No, do not miss the filing deadline by waiting for an insurance settlement. Final insurance information can be added after a settlement is made. SBA can approve a loan for the total replacement cost up to our lending limits. Once your insurance settles, if there is a duplication of benefits, we will apply those funds to the balance of your disaster loan.

I’m a farmer, and my barns, fence, and some of my crops were damaged, as well as my home. Can I apply to SBA for assistance?

You may apply for an SBA disaster loan to cover the damage to your home and its contents only. SBA cannot cover agriculture losses. Contact the U.S. Department of Agriculture for recovery assistance for your farm or contact us.

Essential Information

In Presidentially declared disasters, residents and business owners can begin the disaster application process by registering online with the Government Agency, or by calling us. For more information about SBA disaster assistance plus disaster preparedness for individuals and businesses please contact us.

For more information, please contact us to request a free sample emergency plans, business preparedness checklists, and templates providing detailed business continuity and preparedness information.

DAJK GROUP is the place where investors, business owners and entrepreneurs can research and find useful information, insight, resources, advice, guidance and inspiration for acquiring funds for their project, acquisition for their net lease commercial real estate, increasing their assets and running their profitable business.

Our group of expert Oil Trader, Commercial Real Estate Specialist, Asset Management, and Business & Financial Analyst, can help to answer all your questions and to provide you with investment alternative and options catered to your investment strategy.  Sign-up for a free 30-minute consultation with us now!

Growing, Evolving and Pushing Forward!

Our recent study showing creative investors especially net lease commercial real estate have increased using their art collections as collateral loan.  The question is WHY?

The value of their art collection has increased significantly for last several years now.  However many art collectors do not want to sell their arts because of too expensive when they sell as mentioned in our previous blog, “The Best Way Creating Liquidity Value of Your Art Collection – Borrow”

There are more willingness banks and smaller art lenders are aggressively offering loan secured by art collector.

For art collector (borrower), it depends on what type of loan, the loan-to-value (LTV), annual interest rate and terms.

There are two types of secured art-loans

1. Recourse
2. Non-recourse.

Recourse loan where art is required as collateral for the loan but the borrower also has to provide a personal guarantee of payment.  That means if the borrower defaults and the bank can’t recover the full amount of the loan by selling the art, it can make a claim on the borrower’s other assets.

Non-recourse loan where it does not require borrower’s personal guarantee.  The artwork is the only asset that is the security for the loan.

Because of the low risk associates with the recourse loan, lender offer much lower rates.  It’s also a part of an overall relationship with a wealthy client.  Borrowers may be able to get rates as low as prime plus 2% or 3%.  Conversely, the non-recourse loan, annual interest rates vary largely but typically range from prime plus 6% to 13%.

The minimum loan is $US 5 million for an art-secured loan.  Since loans typically are around 50% of the appraised value of the art, the borrower’s collection would need to be worth around $10 million or more. Also the minimum value of each piece is $200,000.

These are typical requirements for these art-loans.

Borrower requires proof of authenticity such as purchase document, exhibition history, sale history and inclusion in a catalog.

Borrowers also need to prove that they own the art outright, with no possibility of anyone else claiming it in situations like divorce or a disputed inheritance.

In addition, certain lender prefer a certain type of art collections.  They make better collateral than other.  For instance, some lender prefers artworks from ancient civilization; other lender prefers artworks between 19th century impressionist painting and postwar or contemporary art.

Where the money goes are stated in our previous blog: ““The Best Way Creating Liquidity Value of Your Art Collection – Borrow”

CONTACT US… Collectors interested in arranging financing should contact us for free consultation.  We will assist to identify the borrowing need, determine what type of financing makes the most sense, and facilitate the appropriate lender.  Please note minimum appraisal report is at $US 5 million.  There is no maximum amount.

Related resources at Amazon Corner:

1. Fine Art and High Finance: Expert Advice on the Economics of Ownership
2. Structured Finance and Insurance: The ART of Managing Capital and Risk
3. The Art of Buying Art: An Insider's Guide to Collecting Contemporary Art
4. The Art Business
5. Art as an Investment
6. Risk and Uncertainty in the Art World
7. The Explosion of the Art Market in the 21st Century

DAJK GROUP is the place where investors, business owners and entrepreneurs can research and find useful information, insight, resources, advice, guidance and inspiration for acquiring funds for their project, acquisition for their net lease commercial real estate, increasing their assets and running their profitable business.

Our group of expert Oil Trader, Commercial Real Estate Specialist, Asset Management, and Business & Financial Analyst, can help to answer all your questions and to provide you with investment alternative and options catered to your investment strategy.  Sign-up for a free 30-minute consultation with us now!

Growing, Evolving and Pushing Forward!

Unlocking the Value of Your Art Collection

Art collectors have high value inaccessible in their art collections.  If they need to access of this value, they do not have to sell their art to create liquidity – Borrow.  They can borrow funds and retain possession for their art.

There are big advantages to borrowing – avoiding selling cost, capital gain and taxes.  It could be up to 65+ percent.  These combination can make it VERY expensive to sell.

What is the alternative to access its liquidity?  Borrow.

For example:  A collector sells his art for $US 10 million. Assuming selling costs of 20 percent (20 percent of $US 10 million = $2 million) and an original cost of $US 1,000,000 for the art.

• Funds realizes a before-tax profit: $US 7 million.
• Net to collector:  $US 4.2 million  (this profit is subject to capital gains tax. Assuming a rate of 40 percent (28 percent federal plus 12 percent state), the collector pays $2.8 million in capital gains tax, and nets $4.2 million.
• Net to heirs:  $US 2.1 million (these net proceeds are subject to estate taxes at the collector’s death. Assuming a 50 percent rate, the heirs receive only $2.1 million — on art sold for $US 10 million! This represents a loss of 79 percent across a single generation, and underscores the cost of selling art.)

By selling during his lifetime, the collector pays 2 levels of tax: capital gains and estate. By borrowing to create liquidity, the collector can keep the art during his lifetime and have his estate benefit from a step-up in tax basis. This enables collectors to pay just one level (estate tax) rather than two. In this example, the collector could borrow as much as $US 5 million (up to half the art’s value) and keep his art. Art collector would be responsible for debt service on the loan, but he would also benefit from any appreciation on his art.

What art collectors do with the proceeds?  These are few:

• Entrepreneurs frequently borrow against their art to invest in their existing businesses or new ventures
• People also borrow against their art to make charitable contributions, pay medical expenses, and fund divorce settlements.
• An art-based loan is a low-cost option for art collectors in need of cash flow who can enjoy their art while making scheduled payments.
• In these uncertain economic times, art collectors also borrow to avoid the risk of having their art “bought in” (or “burned”) at auction, which makes it difficult to sell for years to come.
• Faced with estate taxes that must be paid within a short time frame, executors frequently liquidate art collections quickly. But borrowing funds to pay estate taxes and administration costs makes it possible for executors to maximize the value of the estate’s assets by selling the art over time, thus avoiding a “fire sale.”
• Many arrange lines of credit and term loans to invest more art.
• Some whose wealth is concentrated in art borrow funds to invest in other asset classes, such as stocks, bonds, real estate, oil, gas, private equity, and hedge funds, thereby diversifying their holdings.

Consult your financial adviser, accountant, attorney, or estate planner while making these decisions.

• Does art collector want the flexibility of a line of credit or a term loan of 3-10 years?
• Does art collector want a six-month loan to fund short-term liquidity needs?
• Or an advance against art that art collector plans to sell later this year?

CONTACT US… Collectors interested in arranging financing should contact us for free consultation.  We will assist to identify the borrowing need, determine what type of financing makes the most sense, and facilitate the appropriate lender.  Please note minimum appraisal report is at $US 5 million.


Related resources at Amazon Corner:

1. Fine Art and High Finance: Expert Advice on the Economics of Ownership
2. Structured Finance and Insurance: The ART of Managing Capital and Risk
3. The Art of Buying Art: An Insider's Guide to Collecting Contemporary Art
4. The Art Business
5. Art as an Investment
6. Risk and Uncertainty in the Art World
7. The Explosion of the Art Market in the 21st Century

DAJK GROUP is the place where investors, business owners and entrepreneurs can research and find useful information, insight, resources, advice, guidance and inspiration for acquiring funds for their project, acquisition for their net lease commercial real estate, increasing their assets and running their profitable business.

Our group of expert Oil Trader, Commercial Real Estate Specialist, Asset Management, and Business & Financial Analyst, can help to answer all your questions and to provide you with investment alternative and options catered to your investment strategy.  Sign-up for a free 30-minute consultation with us now!

Growing, Evolving and Pushing Forward!

In recent years, while continuing to learn more about strengths, Gallup scientists have also been examining decades of data on the topic of leadership. They studied more than 1 million work teams, conducted more than 20,000 in-depth interviews with leaders, and even interviewed more than 10,000 followers around the world to ask exactly why they followed the most important leader in their life.

The results of that research are unveiled in Strengths Based Leadership. Using Gallup’s discoveries, authors Tom Rath and Barry Conchie identify three keys to being a more effective leader and use firsthand accounts from highly successful leaders — including the founder of Teach For America and the president of The Ritz-Carlton — to show how each person’s unique strengths can drive their success.

A new leadership version of Gallup’s popular StrengthsFinder assessment helps readers discover their own special gifts and specific strategies for leading with their top five strengths. Filled with novel research and actionable ideas, Strengths Based Leadership will give you a new road map for leading people toward a better future.

Why are some people and organizations more innovative, more influential, and more profitable than others? Why do some command greater loyalty?

In studying the leaders who've had the greatest influence in the world, Simon Sinek discovered that they all think, act, and communicate in the exact same way-and it's the complete opposite of what everyone else does. People like Martin Luther King Jr., Steve Jobs, and the Wright Brothers might have little in common, but they all started with why.

Drawing on a wide range of real-life stories, Sinek weaves together a clear vision of what it truly takes to lead and inspire.

TED VIDEO (subtitle Vietnamese)
https://embed-ssl.ted.com/talks/lang/vi/simon_sinek_how_great_leaders_inspire_action.html

Tony Robbins has coached and inspired more than 50 million people from over 100 countries. More than 4 million people have attended his live events. Oprah Winfrey calls him “super-human.” Now for the first time—in his first book in two decades—he’s turned to the topic that vexes us all: How to secure financial freedom for ourselves and our families. 

Based on extensive research and one-on-one interviews with more than 50 of the most legendary financial experts in the world—from Carl Icahn and Warren Buffett, to Ray Dalio and Steve Forbes—Tony Robbins has created a simple 7-step blueprint that anyone can use for financial freedom.

Robbins has a brilliant way of using metaphor and story to illustrate even the most complex financial concepts—making them simple and actionable. With expert advice on our most important financial decisions, Robbins is an advocate for the reader, dispelling the myths that often rob people of their financial dreams.

Tony Robbins walks readers of every income level through the steps to become financially free by creating a lifetime income plan. This book delivers invaluable information and essential practices for getting your financial house in order.

MONEY Master the Game is the book millions of people have been waiting for.

YouTube interview

Learn the secrets to maximizing your Social Security benefits and earn up to thousands of dollars more each year with expert advice that you can’t get anywhere else.

Want to know how to navigate the forbidding maze of Social Security and emerge with the highest possible benefits? You could try reading all 2,728 rules of the Social Security system (and the thousands of explanations of these rules), but Kotlikoff, Moeller, and Solman explain Social Security benefits in an easy to understand and user-friendly style. What you don’t know can seriously hurt you: wrong decisions about which Social Security benefits to apply for cost some individual retirees tens of thousands of dollars in lost income every year.

How many retirees or those nearing retirement know about such Social Security options as file and suspend (apply for benefits and then don’t take them)? Or start stop start (start benefits, stop them, then re-start them)? Or—just as important—when and how to use these techniques?Get What’s Yours covers the most frequent benefit scenarios faced by married retired couples, by divorced retirees, by widows and widowers, among others. It explains what to do if you’re a retired parent of dependent children, disabled, or an eligible beneficiary who continues to work, and how to plan wisely before retirement. It addresses the tax consequences of your choices, as well as the financial implications for other investments.

Many personal finance books briefly address Social Security, but none offers the thorough, authoritative, yet conversational analysis found here. You’ve paid all your working life for these benefits. Now, get what’s yours.

World-renowned Stanford University psychologist Carol Dweck, in decades of research on achievement and success, has discovered a truly groundbreaking idea—the power of our mindset.

Dweck explains why it’s not just our abilities and talent that bring us success—but whether we approach them with a fixed or growth mindset. She makes clear why praising intelligence and ability doesn’t foster self-esteem and lead to accomplishment, but may actually jeopardize success. With the right mindset, we can motivate our kids and help them to raise their grades, as well as reach our own goals—personal and professional. Dweck reveals what all great parents, teachers, CEOs, and athletes already know: how a simple idea about the brain can create a love of learning and a resilience that is the basis of great accomplishment in every area.

TED video (Vietnamese Subtitle)

https://embed-ssl.ted.com/talks/lang/vi/carol_dweck_the_power_of_believing_that_you_can_improve.html

DAJK GROUP is the place where investors, business owners and entrepreneurs can research and find useful information, insight, resources, advice, guidance and inspiration for acquiring funds for their project, acquisition for their net lease commercial real estate, increasing their assets and running their profitable business.

Our group of expert Oil Trader, Commercial Real Estate Specialist, Asset Management, and Business & Financial Analyst, can help to answer all your questions and to provide you with investment alternative and options catered to your investment strategy.  Sign-up for a free 30-minute consultation with us now!

Growing, Evolving and Pushing Forward!