Man in death plunge may have broken into friend’s flat

A man he knew had been found dead at the foot of his block that morning, but even more troubling was the fact that his gold chain and smartphone had been found on the deceased.

The home owner, a sales manager who wanted to be known only as Mr Lim, 35, believes the man had broken into his eighth-storey unit in Block 512C Yishun Street 51 through an open kitchen window.

He then fell to his death while trying to escape with his loot.

The Singapore Civil Defence Force (SCDF) said it received a call at about 6am about an injured man at the foot of the block.

When he died from his injuries after he was taken to Khoo Teck Puat Hospital, the SCDF notified the police.

A police spokesman said they were alerted to the 25-year-old man's death at about 7.20am last Friday and are investigating the unnatural death.

Mr Lim told The New Paper yesterday: "The police came to my unit at about 10am last Friday and told us someone had fallen from our kitchen window."

He was shocked to learn of the deceased's identity.

"I knew the guy who died. He had come to my home a few times."

Mr Lim believes the man gained access to his kitchen window by jumping from a ledge along the common corridor to his air-conditioner ledge a metre away and slipped and fell after he tried to cross back from the air-con ledge.

He said he realised his gold chain, which has an amulet, and iPhone 6 were missing only after the police visit.

Mr Lim said his family, including three children aged seven, five and four, must have slept through the burglary.

"Thankfully, we lock our room doors when sleeping and he didn't go into my children's rooms. I think he must have walked around the living room and then found the phone and chain in my study."

Mr Lim said he had previously thought his acquaintance was a "good guy" until an incident a while back.

"I found some money missing from my wallet once after he visited, so I started avoiding him after that," he said.

The family members told TNP that they used to not close the windows at night.

Mr Lim said: "We are still shaken, and our neighbours are also shaken by what happened.

"Now we make it a point to do a 'lockdown' every night, locking all our windows and doors for the safety of the kids."

Despite what had happened, Mr Lim said: "I am sorry for his family's loss and would like to send them my condolences."

Sumber : tnp.sg

Business Loan

A business loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. There are a number of different types of business loans, including bank loans, mezzanine financing, asset-based financing, invoice financing, microloans, business cash advances and cash flow loans.

Bank loan

A bank loan may be obtained from a bank and may be either secured or unsecured. For secured loans, banks will require collateral, which may be lost if repayments are not made. The bank will probably wish to see the business’s accounts, balance sheet and business plan, as well as studying the principals' credit histories. Many smaller businesses are now however turning towards Alternative Finance Providers, especially in the case of smaller firms. Loans from credit unions may be referred to as bank loans as well. Business loans from credit unions received the second highest level of satisfaction from borrowers after loans from small banks.

SBA loans

The US Small Business Administration (SBA) does not make loans; instead it guarantees loans made by individual lenders. The main SBA loan programs are SBA 7(a) which includes both a standard and express option; Microloans (up to $50,000); 504 Loans which provide financing for fixed assets such as real estate or equipment; and Disaster loans. In FY 2016, total 7(a) volume was $11,967,861,900 and total 504 loan volume was $2,517,433,000.

Mezzanine finance

Mezzanine finance effectively secures a company’s debt on its equity, allowing the lender to claim part-ownership of the business if the loan is not paid back on time and in full. This allows the business to borrow without putting up other collateral, but risks diluting the principals’ equity share in case of default.

Asset-based finance

Once considered the finance option of last resort, asset-based lending has become a popular choice for small businesses lacking the credit rating or track record to qualify for other forms of finance. In simple terms, it involves borrowing against one of the company’s assets, with the lender focusing on the quality of the collateral rather than the credit rating and prospects of the company. A business may borrow against several different types of asset, including premises, plant, stock or receivables.

Invoice finance

In recent years, it has become increasingly difficult for SMEs to obtain traditional finance from banks. Alternative options are invoice discounting or factoring, whereby the company borrows against its outstanding invoices, with the ability to obtain funds as soon as new invoices are created. It is often questioned which option is best for your business – factoring or discounting – and the answer depends on how the business wants to be perceived by customers. With factoring, the finance company charges interest on the loan until the invoice is paid, as well as fees, and the finance company takes ownership of the debtor ledger and uses its own credit control team to secure payment. With invoice discounting, the business maintains control of its own ledger and chases debts itself.

Microloans

Smaller loans, usually for loan amounts of $100,000 USD or less, are referred to as “microloans.” Banks are less likely to make these loans than alternative lenders. When they do, the decision is usually based on the personal credit score of the business and/or the business credit score.

Online Lenders

There has been a rise in the number of online lenders offering small business loans. Online alternative lenders originated an estimated $12 billion in small business loans in 2014, with unsecured consumer loans representing $7 billion and small business loans accounting for approximately $5 billion. Nonbank lenders that make small business loans have doubled their outstanding portfolio balance every year since 2000. Some online originate loans from their own capital. Others may use a “marketplace” model, in which they match borrowers to loan products from a variety of lenders. Others use crowdfunding platforms that allow businesses to raise capital from a wide variety of sources.

Secured and unsecured business loans

Business loans may be either secured or unsecured. With a secured loan, the borrower pledges an asset (such as plant, equipment, stock or vehicles) against the debt. If the debt is not repaid, the lender may claim the secured asset. Unsecured loans do not have collateral, though the lender will have a general claim on the borrower’s assets if repayment is not made. Should the borrower become bankrupt, unsecured creditors will usually realise a smaller proportion of their claims than secured creditors. As a consequence, secured loans will generally attract a lower rate of interest.

Lenders that make business loans often use a UCC filing to alert other creditors of their security interest in the property of the business. UCC filings may be placed against specific assets, or a blanket UCC filing secures interest in all property. UCC filings may affect the business credit score and may make it more difficult to obtain subsequent financing.

Personal guarantees

Many lenders require principals with 20% or greater ownership in the business to provide a personal guarantee. The personal guarantee allows the lender to attempt to collect the debt from the personal assets of the guarantors. Small business lenders may waive the personal guarantee requirement if the business has strong business credit scores and revenue.[citation needed] In May 2016, changes to the Member Business Lending rule by the National Credit Union Administration board further improved these loans, by allowing credit unions discretion in obtaining a personal guarantee from a borrower.