The Rural Voice, 1999-06, Page 51A
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Advice
institutions are very interested in
participation in this trend.
Many new enterprises begin with
personal assets forming the majority
of the investment but quickly develop
so that owners must access credit to
expand and/or improve viability. This
suggests that it is only a matter of
time before small enterprises and
tenders find themselves in a potential
business relationship.
Lenders remain in business by
assessing applications based on the
level of risk, and potential for debt
repayment. Their charges reflect this
assessment. Conversely, the business
owners secure funds that will allow
for debt repayment and leave a
residual for profit.
Credit Reports
When you apply for a loan, the
fine print on the application gives the
lender permission to check your
credit history. The lender usually
requests a credit report from a credit
bureau. The lender then looks at the
report and decides if the risk and debt
servicing justifies the approval of
your request.
The Good Book states that "a
good name is rather to be chosen than
great riches" and this certainly
applies for small businesses. The
credit report will provide the lender
with a look at your total outstanding
loans, your credit limits, your record
of delinquent payments, amounts
paid off satisfactorily, the issuers of
credit cards, the interest charged and
the number of inquiries on record
from other institutions checking your
rating.
Most lenders and retailers send
data on their customers to local credit
bureau. These in turn are linked by
computer to one or more of the three
international credit reporting
companies, Equifax, Transunion, and
Experian (formerly TRW Credit
Data).
What else is included in the Credit
Report?
The report given to the potential
lender will include your name,
address, social insurance number,
birth date, your open accounts,
balances and credit limits, proposed
use of funds from previous
borrowings, whether you pay on
• two 5 1/2" augers
provide positive
gentle lift
• eliminates
troublesome chains
• space saving
vertical positioning
• reverse for loading
out of mow
• low maintenance —
durable Delron
bearings
• all drive and controls
conveniently at
ground level
AUG -A -BALE
also Mow systems — ,nstallabon evadable
WEBER LANE MFG.
(1990) CO.
R.R. 4, Listowel, Ontario N4W 3G9
For Sales & Service call:
Weber's Farm Service 519-664-1185
BARN
RENOVATIONS
• Renovations to
farm buildings
• Concrete Work
• Manure Tanks
• Using a Bobcat Skid Steer
w/hydraulic hammer, bucket,
six -way blade & backhoe
DAIRY FARMERS
NEW TO ONTARIO
The ARTEX line of dairy
stabling equipment is now
available from Beuermann's.
Canadian -made.
Give us a call.
* ALL WEATHER SHELTERS
BEUERMANN
CONSTRUCTION
R.R. #5 BRUSSELS
519-887-9598
LucK//Now MIXER FEEDERS
MOBILE
10 models from 200 to 750 cu. ft.
STATIONARY
8 models from 150 to 750 cu. ft.
TRUCK MOUNT
From 220 cu. ft. to 750 cu. ft.
1 - Used
Oswalt
Model 530
Exc.
Condition
HAY MASTER
model 500 • mixing cap. 500 cu. ft.
HELM WELDING LTD.
1968 - 1999 Quality Craftsmanship
Built 'Right' Here in Ontario
Lucknow, Ont. 519-529-7627
JUNE 1999 47