“Weighing the advantages of loans versus grants for personal needs. (PitchEngine)” plus 1 more

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Weighing the advantages of loans versus grants for personal needs. (PitchEngine) Posted: 13 Sep 2009 12:10 PM PDT 09.13.2009 – There are now a lot of ways to get money for your personal needs in Canada. While you can go for loans that are offered by a great number of banks and financial institutions, you can also go for Canadian government grants. Getting a loan would mean that you would have to contend with interest rates and possibly undergo stringent evaluation based on your credit history. With grants, on the other hand, a credit score is not essential, and what you just need is eligibility to be granted the government funds. However, the preference for going for loans or for grants really depends on a person. This is because while there are those who would jump at the chance of getting free money from the government, there are others who seemed to be more drawn to building up a credit score to their name. So if you are looking for money to answer some personal needs that you have in the moment, whether this is to pay off accumulated debts or pay for school fees, you really have to weigh the advantages that you can get out of getting a loan or applying for one of the many Canadian government grants. First off, grants are provided for free by the government, which means that these do not have to be paid off. A loan, on the other hand, needs monthly payments that could even come with humungous interest rates. This difference alone could already tell you which is better for you. Loans, especially if paid on time, are known to build up your credit score, which could ensure a stable financial future for you. This is especially true if you might need a huge amount of the money in the future. You could also take out loans time and time again with ease if you are known to have a good credit score. Meanwhile, with Canadian government grants, there are different types to be chosen from, and this could be pretty daunting and confusing. Also, grants could just be a one time thing, so this does not mean anything for your future. You might get free money now, but your credit history won't be firmed up by an amount that will not last you a lifetime. While you can apply for loans without having to really tell the bank what you need them for, with Canadian government grants you really need to specify the purpose for your application. In fact, you would need to look for the loan that would fit your needs. If you need to have home improvements done or you need to pay off some debts, you would have to apply for the specific grant meant for it. So depending on your willingness to expend some time and effort, applying for grants may not be for you. However, if you are looking for some one-time free cash to defray all your personal needs at the moment and you are willing to go through the process to get them, then getting grants would outweigh securing a loan. The money gained from either a loan or a grant will still have the same effect on your needs, they will get them paid off. If you need assistance about loans or about securing Canadian government grants, our site has all the information you need regarding these. This posting includes an audio/video/photo media file: Download Now

Businesses' concerns being met (The Clarion-Ledger) Posted: 13 Sep 2009 03:11 PM PDT In a recession where companies are consolidating and unemployment is rising, communities and economic development groups are giving area businesses the personal touch. Organizations are visiting businesses and working to resolve problems at a time where a simple annoyance may be the difference between a business leaving the area or expanding. Cynthia Buchanan, executive vice president of the Jackson Chamber of Commerce, recalled visiting one downtown business and learning it was pondering moving outside the city. "We didn't even know they were looking to move" before the visit, said Buchanan, who checks in with Jackson businesses as part of Connections, a partnership including the chamber, the city, the Hinds County Economic Development District and Downtown Jackson Partners. "We want to recruit (new business), but we have to maintain what we have." Since the meeting, the business, which Buchanan wouldn't identify, is eyeing staying where it is and renovating its building. Sometimes, the problems are not as dire. "To have that face-to-face contact with them, being concerned about a business, was (appreciated)," said John Churchwell, manager of Romano's Macaroni Grill. The restaurant off County Line Road was concerned by an unusual number of power outages in 2008; only one could be attributed to weather. Plus there was a growing problem with panhandlers near the eatery. Churchwell took his panhandling issues to the Jackson City Council, and Buchanan notified Entergy about the outages. Both issues have greatly improved since, he said. Economic development groups have a tradition of engaging existing businesses to gauge their attitudes about the area's business health. While issues vary by business, some general concerns are emerging these days, said Benjie Barham, director of business development for the Hinds County Economic Development District. Many have asked about accessing capital to help expand or strengthen operations as the ongoing recession has made getting loans for those purposes more difficult, Barham said. Federal stimulus money is out there for businesses to use, but many companies simply don't have enough time to try to secure that money to bolster their efforts, he said. "It's hard to push people toward the economic stimulus package because it is competitive and the money is (distributed) through counties and cities," he said. Barham said about half a dozen potentially attractive, mostly new economic-development projects that were looking at Hinds County have practically "died on the vine" because of those issues. The need for newer office space, particularly in downtown Jackson, also is a common theme, Buchanan said. While the city has welcomed new office buildings such as the Pinnacle to downtown in recent years, many of its buildings are decades old and not the most appealing sites for businesses looking to move and expand, she said. About a year ago, Connections was formed with the aim of visiting with at least five or six Jackson businesses a month. The group averages about four per month. The Mississippi Development Authority also has stepped up its efforts, sending out more questionnaires and encouraging businesses to be more open in their responses, said Chandler Russ, director of the existing business and industry division. The agency uses the surveys in an effort to learn what problems companies may be facing to help address any issues a company may have. Russ pointed to the state's ability to attract Ohio-based ProVia to purchase several Mississippi plants from a bankrupt company. In October 2008, the former owner shut down plants in Booneville, Macon and Olive Branch, eliminating about 400 jobs. The plants have reopened under the new ownership and many of the jobs have returned. MDA also created a database that can direct Mississippi companies to other in-state operations that could need their services, creating a stronger business network in the state. Extra project managers have been switched from other MDA divisions to work on business retention. "We needed to have a more aggressive dialogue," Russ said. The Mississippi Legislature has authorized up to $48 million for a loan fund that would enable existing businesses to finance or refinance land or building and equipment purchases, Russ said. An MDA project manager would vet interested companies before deciding which applications best suit a program. The agency also plans 40 to 50 visits this year to out-of-state businesses with Mississippi ties, up from the usual 20 annually, Russ said. A group recently visited Chicago to meet with executives at corporations based in the city that employ about 7,000 Mississippians "We've worked as diligently on the retention side as on the expansion side in the last 10 months," Russ said. While Adams and Reese law firm is happy where it's at in Jackson, John Hooks, an attorney at the firm, said the Connections team sent an important message in its hour-long chat with the firm. He said the group conveyed the thought that, "We're all in this together. You're all an important part of the business cycle in Hinds County and the city of Jackson." To comment on this story, call Jeff Ayres at (601) 961-7050. This posting includes an audio/video/photo media file: Download Now

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