Beware of mortgage loan scams! Tips & Warning Signs

The Housing crisis is still not behind us  - many homeowners are struggling to keep up with their mortgage payments. It's important to understand that there are free resources available to you - Too often, we see clients from Westchester and the Hudson Valley who seek free foreclosure prevention and loss mitigation counseling services after they have already paid thousands of dollars to a scam artist who has done little to help them while ...
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4 steps to increase your chance of approval for a business loan

You applied for a loan for your business and were declined - what now? Being declined for a loan can be a disappointing and frustrating experience. What steps can a business owner take to make sure it doesn’t happen again? Understand the reason(s) for the decline.  When you ask for a loan you are essentially asking your lender to take a chance that you are going to pay them back.  All of the underwriting a lender does is aimed at determining ...
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5 Questions to ask yourself before hiring a new employee

For most small business owners, the decision to hire their first employee is not a small or easy one. Many small business owners are hesitant about adding a new hire to their team. It’s understandable. It’s a big decision and there are a lot of things to consider. We thought we’d help with the process by offering up five key questions to ask yourself before deciding to add a new member to your small business Can I take on this extra work ...
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5 things to consider before setting a price for your goods and services

When it comes to setting an initial price, you can generally choose from one of three options: You can charge a premium price (this works best if you have a superior, value-added product or service), a lower-than-average discount price (which is generally hard for small companies to sustain), or a price that is in line with your competitors (market price). To help you decide where to fall on this scale, here are five things to consider before ...
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4 steps to evaluating a new business opportunity

Growing a business, whether organically or by acquisition, is never easy. Today we’ll offer a quick way to  evaluate growth opportunities for your business. Following these four simple steps can keep you from pursuing unprofitable, costly new lines of business, partnerships or business acquisitions: Doing the Math Really Does Matter The first step in evaluating a new opportunity is to compute the potential gross profit margin to be ...
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Four Good Reasons to Pay Your Taxes

It’s that time of year again. The W-2s and 1099 are starting to arrive in the mail and before you know it, it will be March and then April 15th – Hello Tax-Time! No one enjoys paying taxes, but there are several reasons to do the best job you can of accurately reporting your income: Uh oh! Uncle Sam Wants You! Obviously, under-reporting may invite scrutiny from the IRS and whatever savings you may have once enjoyed will quickly be wiped out ...
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New Years’ ideas for your business in 2016

The New Year is always a great point in time to look back and then start afresh – are you ready to make 2016 be the best year yet? Are you planning a whole list of resolutions for your business or just looking for small improvements? Here are a few suggestions to help you start the year off right. No time or energy to plan for an entire year? Try our initial “quick fixes” and just focus on them for a day or a week; if they work, you can always ...
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Mission Accomplished!

A cornerstone of CCNY’s mission and philosophy is to make small businesses bankable and to provide an on-ramp to the main stream financial system. To that effect, we partner with banks and financial institutions throughout the Hudson Valley who refer businesses to us that just miss the qualifiers of ‘traditional’ bank loans. CCNY provides the business an opportunity to prove themselves by establishing and growing their operations so that ...
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