Posts Tagged ‘capital’

Hedonist’s Guide To Madrid 1st Edition

Monday, April 18th, 2011

  • ISBN13: 9780954787813
  • Condition: USED – Very Good
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Product Description
It would be hard to find a city that lends itself more to the pursuit of hedonism than Madrid. Known as the party capital of Europe, it has a level of vibrancy and energy unparalleled in other cities. No matter what the night of the week, you’ll find bars and restaurants bursting with people well into the early hours. Coupled with the cultural sophistication and elegance of the Prado, Thyssen and Reina Sofia, Madrid is the ultimate weekend destination…. More >>

Hedonist’s Guide To Madrid 1st Edition

Sbarro files for bankruptcy protection

Wednesday, April 6th, 2011
Kris Alingod – AHN News Contributor

Melville, NY, United States (AHN) – Sbarro, the popular Italian food chain, has filed for bankruptcy protection to reorganize its business and eliminate $200 million of debt.

The Melville-based company on Monday asked the U.S. Bankruptcy Court for the Southern District of New York to approve a $35 million debtor-in-possession agreement with first-lien lenders.

Two creditors, MidOcean Partners and Ares Corporate Opportunities Fund, will backstop a $30 million rights offering, the proceeds of which will be used to repay the debtor-in-possession and provide the reorganized business with additional equity capital and liquidity.

The company has reached an agreement with lenders and 70 percent of noteholders about a restructuring plan converting second-lien debt and senior notes to equity.

The proposal whittles debts by more than half, to about $175 million. The remaining, first-lien debts would continue to be held by lenders, but maturity would be extended five years after the chain emerges from bankruptcy.

In its Chapter 11 filing, Sbarro listed debts of $486.6 million and assets of $471 million.

Sbarro has 1,000 restaurants worldwide, nearly half of which are wholly owned by the company. It reported a continuing decline in profits late last year due to “reduced consumer spending throughout the United States as a result of the current economic environment.” Rising costs of commodities, particularly cheese, combined with weak domestic demand last year to reduce earnings.

The 50-year-old company says operations in its restaurants are continuing normally despite the bankruptcy filing.

“We look forward to emerging from this process as quickly as possible with a capital structure that will firmly position us for continued long-term success,” Nicholas McGrane, interim president and chief executive, said in a statement.

Article © AHN – All Rights Reserved

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Sandra Gustafson’s Cheap Eats in Spain

Tuesday, April 5th, 2011

Product Description
More and more quality-conscious travelers are choosing Spain as a destination for living inexpensively and well without compromises. These exciting additions to the Cheap Eats/Cheap Sleeps series spotlight three of the best-loved and most popular Spanish travel destinations: cosmopolitan Barcelona; romantic Seville; and the vibrant capital, Madrid. Sandra Gustafson’s lively, detailed personal reviews are just the thing for finding the best paella, coziest pensin, or the perfect glass of sangria. Including advice on transportation, shopping, reservations, and holidays, these guides are sure to be instant hits with value-minded travelers. … More >>

Sandra Gustafson’s Cheap Eats in Spain

Borders files for bankruptcy

Thursday, February 17th, 2011
Kris Alingod – AHN News Contributor

Ann Arbor, MI, United States (AHN) – The nation’s second-largest book retailer has filed for bankruptcy protection but is assuring customers that store operations remain normal and that online orders are being met.

Borders submitted a petition for relief on Wednesday in U.S. Bankruptcy Court, revealing it had $1.29 billion in debts and $1.27 billion in assets.

“In light of the environment of curtailed customer spending, our ongoing discussions with publishers and other vendor related parties, and the company’s lack of liquidity, Borders Group does not have the capital resources it needs to be a viable competitor and which are essential for it to move forward with its business strategy to reposition itself successfully for the long term,” Borders Group president Mike Edwards said in a statement.

The Michigan-based company has been losing money to rivals in part because of belated efforts to adjust to the fast-changing industry of e-readers, digital books and online commerce. In December, it reported a third-quarter loss of $74 million, nearly twice its loss the same quarter the previous year.

Borders last month said it had received a commitment of $505 million in debtor-in-possession financing from GE Capital to help it reorganize and reposition itself to become viable.

The reorganization, if approved by the bankruptcy court, will include closing under-performing stores, about 30 percent of the retailer’s 650 stores nationwide, in the next several weeks.

The company has made clear it “will continue to maintain its strong national presence” and that stores continue to be open for business. Orders made through the company’s website are being filled, and a successful rewards program launched last fall remains in effect.

The 40-year-old book chain likewise assured employees, saying it expects to make payroll and continue its benefits program for workers. Borders employs about 19,500 employees.

Article © AHN – All Rights Reserved

View full post on Lifestyle And Leisure Stories

New Companies Are Given a Sign of Hope for Restaurant Finance

Monday, February 7th, 2011

In case you have a fairly new restaurant you might be prone to discover that obtaining a restaurant loan is almost inconceivable once you undergo conventional methods. Conventional lending institutions are very averse to loan funds to merchants at the moment, and they’re much more disinclined in relation to the restaurant industry. This may be attributed to some extent to the wrong notion that eating places usually tend to fail than different small enterprise varieties, and to a degree a response to the unstable financial circumstances.

For these restaurant merchants that discover that they want capital to pay for an unforeseen issue, the acquisition of a brand new piece of equipment or an enlargement, the explanations behind the problems mean very little. What does matter is that they will get non-conventional funding by a business cash advance program that places funds in their hands quickly.

Restaurant finance through credit card factoring contracts are primarily based upon bank card gross sales verified by four-six months credit card processing statements and fundamental paperwork like a retailer lease, driver license and easy firm formation documents. Poor credit score historical past is not vital, as most new companies have not had the time to determine themselves.

Approval of the capital can take as little as 24 hours, with the cash in hand inside every week or a bit extra in some examples. For a merchant who’s attempting to hold collectively a defective piece of equipment, or just keep afloat in onerous occasions, speed is of much importance.

Whether or not your restaurant requires $5,000 or $250,000 per store, it’s reassuring to know that so long as you may have satisfactory bank card gross sales and may show it with credit card processing statements you’re going to get the cash you require. Reimbursement is straight tied to your future gross sales, which implies that even in case you have a sluggish month, it is possible for you to satisfy the contractual settlement of your business cash advance.

Since early 2008 Daniel Samoohi has helped thousands of business owners in finding reputable providers in order to compare quotes for restaurant finance. By making lenders compete with each other, Daniel helps businesses in finding great deals for a restaurant finance.

Author: Daniel Samoohi
Article Source: EzineArticles.com
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A Restaurant Loan Is Made Faster Using Factoring

Monday, January 31st, 2011

Any business person will tell you that no plan, however well though out, survives its first encounter with reality. No matter how cautiously you have designed your method for a restaurant loan, something is bound to come about sooner or later. This could be an issue as simple as a sudden rise in the prices your supplier charges, or as difficult as your walk-in fridge failing one night.

When you run a business, especially while in the first few years, your profit margins are minimal and an unpredicted problem could be the difference as far as success and closing down. It will really come down to your ability to pull together the working capital your company needs swiftly. Acknowledging that the cash flow to make good on that unexpected bill will be in your hand in a couple of weeks makes all the difference.

So, where does the working capital come from? From your credit card terminal, actually. All those moments your business ran a payment through your machine, you were actually contributing to your reputation. While you might not have thought of the possibility, there are many companies give establishments like yours factoring agreements when asked.

A factoring agreement as opposed to a restaurant loan involves you selling anticipated processing sales to the factoring company in exchange for capital handed over today. Once you have established a steady flow of credit card sales over the last several months, you are able to apply. We aren’t talking about a few dollars, either; agreements run from $5,000 to $1,000,000 per location.

Small business factoring requires a great deal more than luck and can be managed without needing to kiss up to the big shot at your traditional. Look closely at what your credit card broker can offer to help your establishment through. You might want to consider shopping around before the crucial need arises. This way you will know what to expect as far as documentation. Normally 4 months of merchant account statements and a 1 page application are a must. Your company can normally obtain 100% – 150% of your monthly average volume.

For many years, Daniel Samoohi has served as a reputable source of information regarding a restaurant loan. For dependable answers and advice on a restaurant loan visit him at Merchant Cash Finder.

Author: Daniel Samoohi
Article Source: EzineArticles.com
Digital Camera News

Attaining Restaurant Loans and Not Needing a Bank

Monday, January 24th, 2011

There are many ways to finance an existing enterprise. When it comes to restaurant loans, banks are always hesitant to extend much by way of capital. This shoes that for the budding restaurateur, securing cash flow for cash flow is very hard. Worse yet, if something requires capital down the road, it can be even more difficult to come by.

Under ideal instances a bank will want you to come up with a minimum of 25-30% of the initial cash for start up costs. If your company need more money later on, say for a repair or expansion, there is boat loads of paperwork to get together. More accurately, the bank will need to see that you have been in business for a number of years and have collateral prior to letting you out the door with their money.

Credit card processing companies and factoring companies are more flexible as far as their guidelines. They already know that your establishment is taking in a decent transactions based upon the credit card receipts they see each day. While they will base what they offer you on those sales, they may also alter repayment terms to match those sales on a monthly basis. That means you will never feel overextended to pay back your balance.

Of course, there are other ways who provide restaurant loans as well. Family, friends and coworkers may be willing to lend you some funds, but it is really bad to mix your personal life with your business life if you can avoid it. A resourceful, professional establishment is your best bet if you are not going to apply at the bank.

You will pay more with a factoring company than you would at a typical bank. However, the trade off of being able to qualify with a factoring agreement to that of a bank loan is substantial. After all, 6% of nothing is zero. You could have your working capital in 7 – 10 days. You would be lucky to receive an answer from the bank by then, let alone capital in your account. In addition, assuming everything goes well with your initial advance you will qualify for more advances. This form of working capital can serve as a real cash flow solution in today’s market.

Since early 2008 Daniel Samoohi has helped thousands of business owners in finding reputable providers in order to compare quotes for restaurant loans. By making lenders compete with each other, Daniel helps businesses in finding great deals for restaurant loans.

Author: Daniel Samoohi
Article Source: EzineArticles.com
Hybrid and Electric Cars

Improve Cash Flow Using Restaurant Finance Advances

Saturday, January 1st, 2011

There isn’t much out of the ordinary about a merchant coming across unforeseen operating expenditures. In the restaurant industry, Restaurant Loans assist in keeping the restaurant open while giving the necessary working capital for improvements, new supplies or growth, without the difficulty of trying to get a conventional bank loan.

Normal bank loans simply do not quench the desires of every merchant. For young businesses, entrepreneurs with less than excellent credit marks and those merchants that require a quick approval and payout, conventional bank loans aren’t the most suitable options. In the times subsequent to the sub-prime home loan collapse, few lending institutions are eager to loan working to any merchants, even if they are perfect candidates for a loan. Fortunately, restaurant finance providers are stepping in to bridge the gap left by normal lenders.

Restaurant finance isn’t really a loan in the least bit. Rather, it is a type of credit card factoring, where one business owner gives a piece of their future credit card revenues in exchange for fast access to funds. As long as the merchant can verify a history of several months where they transact a reasonable sum of credit card revenues – typically between $2000 and $2500 per month at the very minimum – a credit card factoring contract can be reached.

The funding company is likely to request the merchant to replace their credit card terminals so they can track revenues, but that is a little burden when compared to the capacity to get necessary cash fast. It is advisable that the merchant make sure that the provider with which he does business with adheres to “best practices” guidelines prior to getting into contract. A large number of working capital agents have appeared recently in response to the present financial situation so it is best to be sure you do not work with those that are simply in the market to take advantage of an expanding business.

Restaurant finance from a merchant account can be utilized to fund any item an entrepreneur requires. It is speedily obtained and with a loose payback schedule it can make the difference between meeting your goals and closing your business for good.

Since early 2008 Daniel Samoohi has helped thousands of business owners in finding reputable providers in order to compare quotes for restaurant finance. By making lenders compete with each other, Daniel helps businesses in finding great deals for restaurant finance.

Author: Daniel Samoohi
Article Source: EzineArticles.com
Digital Camera News

An Appetite for Debt – Why Loans Are Good for You!

Saturday, December 25th, 2010

Starting and growing a restaurant can be a cash intensive proposition. Buying or renting space, kitchen equipment, and furniture is just the beginning. Add on utilities, salaries and inventory, and it’s no surprise that so many restaurateurs struggle with making ends meet.

There are, however, many sources of capital available to the savvy business owner, and perhaps none is so important to the health of a growing restaurant than debt. Loans, leases, credit cards, mortgages, and personal notes of all kinds can get a new restaurant off the ground, or help a growing restaurant thrive.

No Money Down

Jimmy Kavopovis, 42, is the proud owner of the Steele Creek Caf, a friendly, fast-food place in a office park environment. It is his third restaurant endeavor. Today’s restaurant industry is challenging, says Kavopovis, and finding loans for growth is part of the challenge. “Once upon a time you could put the equipment up for collateral, but times have changed,” he complains. “Banks are not lending money for restaurants that often.”

Nonetheless, Kavopovis has managed to build a flourishing business through the creative use of loans – both traditional and otherwise. He built and owns the building in which the Steele Creek Caf operates, and owns another building – formerly the home of a his first pizza restaurant.

Balancing Act

“Restaurants are hugely capital intensive,” says Lesley Kohn, a principal at Nextaurant, Inc. of San Francisco. “So there are some wonderful ways to leverage debt.” Nextaurant works with chefs and owner-operators on budgeting, fundraising, and operations. She has no lack of ideas and advice about using loans.

“Look at it holistically; too many companies are underleveraged,” Kohn says, referring to debt’s ability to multiply an owner’s profits without additional out-of-pocket cash. A holistic view of the business includes forecasting the budget for three to five years, understanding your personal income needs, and balancing the amount of debt with other factors, including cash flow and equity capital invested.

The one weakness Kohn sees most often among restaurateurs? “People in the restaurant business don’t do enough of running their numbers,” she says. “You have to have a sound budget to know what you’re going after.”

If a business owner knows how much money is needed in the long term, and how much profit (or cash) will be left over to make loan payments, then securing a loan will be much easier. Kohn says she has helped secure debt from a variety of sources, but the basics are the same – to be able to borrow money, you have to be able to show how you will pay it back.

Where to Look

When it comes to finding lenders, it helps to think broadly “We’ve dealt with banks, as well as a ton of private sources, ranging from [commercial finance] institutions, the SBA, friends, family, angel investors, and other high net worth individuals,” says Kohn.

Each source of capital has its own advantages and disadvantages. Banks and commercial finance lenders tend to have higher rates of interest, while individual investors may want to have a say in how the business operates. Borrowing from friends and family, of course, can lead to trouble in all kinds of ways.

Nonetheless, it is sometimes the people that know you the best who are best qualified to loan you capital.

In Jimmy Katopovis’ case, he had two advantages when opening Steele Creek Caf – real estate to secure loans from the bank, and family who could afford to loan him additional capital.

“I got pretty good terms through the bank,” says Katopovis, who borrowed 100% of the construction costs during a period of especially low interest rates. “But the deal was a whole lot sweeter from my dad,” he grins. “That didn’t cost me any interest.”

A successful recipe

Using personal assets as collateral for a restaurant loan, as Katopovis did with his real estate, is an important strategy to consider, says Kohn. But, she warns, mixing the various interests of the restaurant, the owner, and other investors can get messy. “Everything is project dependent. You can put up personal assets, but talk to somebody who understands how to balance debt and equity. Talk to somebody you trust and come up with something that makes sense.”

Finding the right sources of funds, while balancing the restaurant’s ability to repay loans and compensate owners, is one of the hardest problems of any business. Because restaurants require so much capital, the challenge is magnified. “This is not an easy, quick fix,” adds Kohn. “These are some of the most complicated things: capital is the fuel of your business.”

Katopovis is looking forward to his next restaurant project, and says that debt will again play a large part in getting it off the ground. Never mind that his is, in his own words, “pretty tapped out.” No doubt he will manage to mix up a new formula. “I’ll probably go through a bank, and this time a signature from my dad will be the collateral,” he says. “He’s been my backbone.”

Business owners looking for unique strategic finance and funding advice should click through to http://www.dworrell.com where author David Worrell provides free tools and tips. Worrell specializes in helping business owners discover the true cash flow, profits and wealth that are hiding inside their business. At http://www.dworrell.com, entrepreneurs can get David’s free report, “The Colors of Money” — 27 pages chock full of secrets to finding the cash you need to grow your business.

Author: David Worrell
Article Source: EzineArticles.com
Digital Camera News

Hungary Road Travel

Friday, November 26th, 2010

Hungary is a small country in Central Europe with the capital Budapest, inhabited only by ten million people. It is considered a great power in the sphere of tourism, hotel and restaurant business. Known to the Romans from ancient times under the name of Pannonia, modern Hungary is inhabited by descendants of the Magyar tribes who crossed the Great Bazin in VII and VIII centuries. The kingdom, founded by them flourished till the XVI century, until repeated Turkish incursions made Hungary to join the Austrian Empire. The culture of Hungary however remained completely independent, having kept its own traditions in cooking, music and language. The Hungarian language belongs to the Finno-Ugric group of languages and differs very much from all other European languages. The status of political independence was returned to Hungary by he Habsburg dynasty in the XIX century. Now there are open 600 museums and exhibition halls in Hungary. Many of them exhibite masterpieces of art, famous not only in Europe but throughout the world. And from this point of view Budapest is the leader.

Budapest The Danube crosses the city, dividing the plain and hilly terrain, Pest and Buda. Budapest consists of three historically parts – Pest, Buda and Obuda. In ancient times there was a settlement of Celts here and then the Roman Aquincum. By the time of Hungarians had come here (about 895), there were Slavic settlements in Pest. Later, the city was destroyed by the Mongol-Tatars. Another was the power of the Turks, the Austrians. Now it is the capital of Hungary. In the heart of Budapest on the Danube, Margaret Island is located – another attraction of the capital (length – 2,5 km, maximum width – 500 m). here are two luxury hotels, restaurants, cafes, the beach “Palatinus”, a summer opera, where annually theater festivals are held. The Island in Hungary is a popular place for rest of the townspeople, who, fleeing from the hustle and bustle, come here to a cozy Japanese garden. Obuda is the oldest district of the capital of Hungary, located on the right bank of the Danube. It has been keeping narrow streets with small taverns, small houses in baroque and late rococo style longer than other districts. But now here everything has changed significantly, however, the main square’s ensemble (Fo ter) as well as remains of buildings of the ancient Roman settlement Akvinka – Aquincum are carefully protected.

The ruins of the civil town of Romans and the amphitheater – one of the largest in the Roman provinces – is of great interest for tourists in Hungary. Tens of thousands of fans of theater and music come annually to Hungary to attend numerous festivals. The most famous among them are “The Budapest Spring”, Szeged and Budapest summer theater festivals, concerts of Beethoven’s music in the old city park in Martonvashar. The city is located 40 km from Budapest towards Lake Balaton. There is a castle there that once belonged to Mr. Brunswick. When Beethoven lived in this city, he often visited Brunswick and his daughters. In July and August on Saturday in honor of Beethoven eight concerts are performed. Concert halls are located close to the railway, so the train schedule is made so that trains do not disturb during the concerts.

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