Ride hailing firm Grab secures up to $700 million in debt facilities

SINGAPORE (Reuters) – Grab, the main Southeast Asian rival of Uber Technologies Inc [UBER.UL], said on Friday it had secured debt facilities of up to $ 700 million to help it create the largest car rental program in southeast Asia.

FILE PHOTO: People wait for the start of Grab’s fifth anniversary news conference in Singapore June 6, 2017. REUTERS/Edgar Su/File Photo

The company also said it had signed a partnership with Singaporean public transport operator SMRT, which will give it exclusive access to SMRT’s taxi and private car fleet management capabilities, along with its network of taxis and Strides private-hire cars.

It also said it would have the largest car rental fleet in Southeast Asia by the fourth quarter of 2018.

Reporting by Aradhana Aravindan; Editing by Edwina Gibbs

Our Standards:The Thomson Reuters Trust Principles.

Tech

Can Taking on Debt Help Your Business? It Depends When You Use it

There are few words and ideas that strike fear into entrepreneurs and small business owners, especially Millennial entrepreneurs, more than debt. Scarred by the financial crisis, and often juggling student loan and other debt burdens, debt is correctly viewed as something that can upend or even sink a business.

Interest payments by themselves, not to mention principal repayments, can eat up cash flow, prevent entrepreneurs and businesses from expanding, and limit opportunities for future growth.

Although the concept of debt most often has a negative connotation, it is important to recognize that debt is just another tool in the toolbox that entrepreneurs have access to. Obtaining financing is a necessary part of any business, especially for an enterprise seeking to bootstrap itself off the ground.

That said, getting over the apprehension of debt and debt issues, and the legitimate fear or making an incorrect decision with your business finances can be easier said than done.

As a CPA I can attest that there are certainly situations where taking a loan, obtaining a line of credit, or accessing other forms of debt can help you and your business grow. Before anything else, remember that you are in control of your finances — debt is a tool for you to use, and can help your business grow when used correctly.

Let’s take a look at some these specific situations and facts to keep in mind:

1. For developing a new product or service.

No matter how fantastic your newest innovation may be, and regardless what type of business you’re running, you need capital to bootstrap your ideas. While you may have confidence in your ideas, the reality is you may have to produce a proof of concept before investors will believe.

After a thorough analysis of the financial pros and cons, taking on debt to help your launch or finish your new ideas can be an excellent use of this tool.

2. When you want to keep control.

Every business, after cutting through all of the jargon and buzzwords, has two sources of capital available to them. You can raise capital in return for ownership interests in an organization, and this capital is yours to keep for as long as you desire.

Debt, although it has interest associated with it, doesn’t require you to give up ownership of your business. This benefit of raising debt is not often discussed, but is something that should be taken into consideration when you are thinking of obtaining external financing.

3. Taking advantage of the tax code.

This may be more or less relevant for your business, but the fact is that business interest payments are tax deductible, as opposed to payments made to equity investors. Put another way, the benefits of this tax deduction can be summarized as follows.

Assuming you and your competitor operate equivalently profitable businesses, the business that has financed itself with debt with generate higher profitability figures than the business that used equity investors.

4. When it’s cheaper than other sources of funding.

You and I can both read the agreements that are signed when you or your business borrow money — loan duration, interest rates, and any applicable fees are explicitly spelled out. This can reinforce the notion that borrowing money is always more expensive than attracting equity investors.

Drilling in deeper, however, it is apparent that equity investors require control, possibly a share of the profits, and maybe a return on their investment through an eventual sale of the business. Taking a step back to see the big picture can save you money in the long run.

Debt, both for individuals and for small businesses, is a critically important topic that can make the difference between success and failure for your business. Although this topic, and the implications of making a mistake with debt, can strike fear into the heart of entrepreneurs, remember that you are in control of your financial future. Taking a step back, objectively analyzing the situation, and using debt when necessary can help your business grow, expand, and continue providing value to the marketplace.

Tech

IDG Contributor Network: No IPO, debt funding instead. Intacct gets some fuel

Cloud ERP vendor Intacct last week announced that it has secured debt funding by way of a $ 40 million facility from Silicon Valley Bank. This comes at the same time as Intacct announced year-on-year new bookings increasing by some 34 percent.

Intacct has an interesting job in front of it — it is a mid-market vendor and therefore fills the space between tools designed for small and mid-sized businesses (QuickBooks and Xero, for example) and more enterprise-focused tools such as NetSuite, SAP, and Oracle. The mid-market space is a difficult one — customers have a plethora of different requirements and often the complexity, if not the budgets, are similar to those of larger enterprise organizations.

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Computerworld Cloud Computing

Deutsche Bank digging out of technical debt, while moving to cloud

Deutsche Bank is facing significant technology overhaul challenges, the likes of which might make IT teams at the most sophisticated companies beg for mercy. Yet experts say the company, which last month recorded a $ 6.6 billion loss for the third quarter, must clear these hurdles if it’s going to survive in a sector where consumers expect to manage their money and other financial services from any device.

Deutsche Bank, like many large banks, is paying down technical debt accrued from years of rushed technology choices intended to help grow their businesses. “It is an incredibly painful transformation process,” says Dan Latimore, senior vice president of the banking practice at Celent, a research firm focusing on financial services. “There’s a certain amount of jury-rigging that you can do to keep up with [aging systems] for a while, but it places increasing strain on the back end and at a certain point, the strain is going to break things.”

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CIO Cloud Computing

Develop Small Business Credit And Watch Your Company Develop

Arranging and managing an internet business is hard. It’s a desire of huge numbers of people world wide. There are tons of folks that want to set up their very own company nevertheless never ever quite get around to it. Sometimes it is due to some factors that may discourage these people from launching their very own venture, which is the possible lack of capital. There are also others that fear the risk of losing their very own money.

Nevertheless, with careful planning, thought and effort, you possibly can raise some funds which will help to get the business started and it can be done through building a business credit. In short, you need to borrow against the business instead of from personal belongings.

Setting up a business through business credit is completely different from consumer credit. This only states that you are striving to project yourself in a business point of view. You must be able to get ready for the transition it entails to ensure you have a successful venture; from being an worker to being a business man. The more you think in the business perspective, the better it is for that business and allows development in the future.

Possibly the most difficult step in building a business credit would be to convince the potential lenders that you’re trying to achieve and set up a viable venture. The quality of your business plan and preparation is important. In order to setup a proper business structure, you must make sure that the prerequisites, i.e. licenses, documentations, have been in place. You should use the business intend to show your lenders that you have placed a deep consideration about the several elements in a business: the competition, pricing, products and the markets. If you are not sure concerning the business plan, you can always hire a specialist advisor but it is critical to organize yourself for that defense of the sales projections and the estimated costs from the start up and running.

There are materials that you will need before the business may become a reality which are: the services, equipments, stocks and several other materials necessary for the business. Look for vendors who’re willing to grant a credit although it may best to choose those companies that’ll be able to report your good credit to major business credit reporting agencies. Good scores running a business credit are reserved for other large and stable business, but with careful and diligent business and credit practices, you may also achieve a good credit rating.

Arranging and doing a credit assessment is essential before getting into the business credit market. The credit assessment would determine if you are able to comply with the lender and also the credit bureau’s requirements. After achieving that, look out for businesses that can issue credit with no need for an established business or personal credit report checks or guarantees. Once you are able to transact the business with credit vendors, you will be able to use those references in order to establish your credit profile using the agencies for a credit rating.

You can even take advantage of those retired or semi-retired businessmen. These people sometimes volunteer to help start up a business. You can build your knowledge while you start the journey to a successful business with a decent standing in credit.

You may also use the advice they can give about pitfalls and disadvantages of starting a business to help you better prepare for the near future.

Alternative methods to build good credit history would be to include things like positive facts. You need to accept that repair my credit won’t ever transpire instantaneously.

Submit An Application Online For A Low Interest Rate Small business Bank Card

Small business credit cards are the trend in many small company enterprises throughout the world. It is simple to apply on the internet for a low interest business credit card at the convenience of your own house or small business, with out resorting to visiting different banks on foot.

Quite a few small businesses are now employing a business credit card to be used within their venture. Considering the reduced APR and perhaps zero annual fee on credit cards, you can make lots of purchases without worrying about additional expenses. This is quite handy if you are planning to reduce business related expenditures and improving profit.

Since the risks of business are much higher when compared with personal ones, business credit cards may have a greater interest rate as compared to the latter. Even with such interest expense, most are still choosing its use thinking about the practicality of use and benefits they are able to get from it.

Obtaining a low interest business credit card may appear easy in the beginning, nevertheless it may be a daunting task if it’s your very first time. You need to do research on different online financial companies that offer these cards, and find out which ones possess the lowest rate of interest attached to it, as well as other charges.

When you’re searching for a zero APR business credit card, you might try searching for those with the lowest balance transfer fees, lowest ongoing fees, additional charges, penalties, along with a low interest rate as well.

One other way of searching for business charge cards online is to consider special offers that come with the service, such as waived interest fees for a certain time period. This will come in handy if you are planning to start your business utilizing a credit card as capital. You can purchase stocks to satisfy consumer demands, office supplies and equipments, and so on; without the interest expense for a few months.

A number of business credit cards have flyer miles among its incentives. If you are planning to go somewhere for any vacation or for business related events, you should use the flyer miles that you’ve accumulated using the points you get from your business credit card.

Various other banking institutions also offer cash returns in line with the percentage from the purchases made while using credit card. This is practically among the best offers you should look out when ever you apply on the web.

After you apply online for a business credit card, it is a sound advice to not limit yourself with a couple of financial companies. You have to make sure that you receive the best deals, as well as the incentives and benefits that come with one.

Subsequent, make sure that you’ve got a good status in your business credit score so your application could be approved inside a shorter amount of time (and being qualified for just one).

You want to get your company and financial documents prepared, because the company might require you to fax it to them to process the application. These types of paperwork involve business permits and licenses as evidence of the validity of the enterprise.

Many others might request you to submit fiscal reports of your venture including income statements, balance sheets, tax documents, etc; be sure you have these ready, in case.

Alternative methods to raise bad credit score should be to include things like valuable aspects. Be sure to realize that general credit services won’t ever occur in a single day.

Trying To Keep Course With The National Credit Score Average

Did you know credit is considered to be a method of purchasing without having instant payment of merchandise. Credit may be by means of charge cards or financial loans.

Everybody who wants to process a credit card or loan application will need to follow the rules and regulations established through the lender. Key point for any credit application to be approved is your credit rating.

Ones credit rating may be the determinant factor of lenders whether you will be given credit. Your own existing credit status as well as your past credit standing makes up for a credit history.

All nation carries a standard credit score to follow along with to find out the country’s financial situation. America has a national average credit rating somewhere from 580 to 780. You will most likely be granted with credit requests for those who have a top credit score.

Since the credit score is highly significant that you should acquire credits as well as balance the national average credit score, you will find considerations to do.

Get the aid of specialists.

Don’t be at a loss for low interests or other attractive credit offers by lenders. It is best to seek advice from an expert prior to deciding to close a contract with a good notion.

Credit specialists can help you correctly manage your finances. He’s accountable in showing you the actual status of one’s finances. He can also be your way to obtain assistance on matters like getting credit. He or she will most likely advise you on the benefits and drawbacks of getting credit and also the many requirements lenders require prior to they make a decision.

Don’t let your due date slip.

Provided that you pay your bills promptly or by the due date, you are creating great credit standing. Another advantage when you’re paying ahead of time is that you are also making your balances low.

Past due payments of expenses will not only give lending institutions poor opinions of you but it is also unfavorable to sustaining a higher credit score. To avoid late obligations, it is advisable to keep an eye on due dates. Prompt yourself that it’s “pay time,” a week before your credit’s deadline.

Keep the interest charges low.

Credit interests identify how good or bad your credit rating is as well as the nationwide average credit rating. Along with reduced credit interests you are likely to sustain good credit standing.

Experts recommend that you undertake a review between lenders on the credit interest they give. Upon performing your own survey, choose which ones can give you a low interest rate yet can still offer you good-quality of service.

Consolidation.

In order to undergo consolidation is generally present with those who experience trouble paying off unpaid debts to their loan companies. Consolidation is actually suitable for this kind of individuals in order to unburden all of them of an excessive amount of paying pressure.

Assess and re-evaluate.

You’ll need to be your own cpa. Don’t let financial problems accumulate, rather than waiting for credit reports to be mailed at the foot of your door, make your own. By doing so, you’re updated concerning your credit reports.

Self-evaluation of your credit file can help you gauge how much credit you still have. Nowadays if you wish to have free of charge consultation services with regards to your credit reports, you can always use the internet and locate one.

Keeping yourself on the right track will not only help you maintain a good credit ranking, it’ll additionally help your nation preserve a great average credit score. Having so may strengthen the economy.

That’s right, getting a reputable credit repair service can definitely assist you. Any credit repair services can cost you cash for their services however.

Enhance Any Credit Score With Strategic Credit Repair

There are numerous ways that you can improve and repair your credit. Even if you have relatively good credit there may be some mistakes and discrepancies showing on your report, which when removed could improve your credit standing. High credit scores are critical for obtaining credit when you need it but they also determine the amount of interest you’ll be charged. Usually, the higher the credit score, the lower the interest rate you’ll be charged.

Credit repair is tips and techniques that you can use to improve or repair your credit. This includes disputing erroneous information that is bringing down your score and it includes analyzing your reports and making changes that can maximize your score. There are benefits that can be realized by almost anyone using credit repair techniques.

Negative items showing on a credit report that are true and accurate are meant to stay on your report until the statutory time period passes. However, more than 75% of all credit reports are believed to have some erroneous information so you will have to check your report carefully. You have the right to dispute inaccurate information and if it cannot be confirmed within a 30-day time period it must be removed.

It is very important to make sure that all your current debt is up to date. Your current debt combined with debt to available credit ratio is a crucial aspect of your credit score. You can increase your credit rating by manipulating this ratio either by paying down current debt or even by obtaining additional credit. Even small changes in a few factors can considerably increase your credit rating.

You will be unable to see any benefit to credit repair unless you have all your finances back in order. If you’re still struggling with overdue payments and income problems you will likely benefit more from credit counseling or perhaps a debt consolidation solution but until you are out of financial trouble, credit repair cannot help you.

Many credit repair techniques can be accomplished by yourself. However, that does not automatically mean you should attempt it. It can be a long and complicated project and anyone could benefit from allowing a good and reputable professional to help you. Many things may be easy to overlook for an individual but a good professional is trained to see all the opportunities. They know just what should and shouldn’t be showing on your account and their expertise can be very helpful.

When you are shopping around for a credit repair professional to help you with your credit problems you should check out their qualifications closely. Many companies have cropped up during the current economic downturn yet many of these don’t have the experience and expertise that is required. There are regulations concerning credit repair businesses but it is still important to select a company or even better a law firm that has been in business for years.

You can use different credit repair techniques to repair bad credit and improve on almost any credit score. With the implementation of some strategic credit repair techniques and the passing of time you can have good credit again.

There are lots of elements which could contribute to improving your credit score quickly although i want to fix my credit may help bring it back again.

ETF Bond

Ever since 1993, exchange traded funds (ETFs) have given another investment tool for Americans. ETFs could offer simple trading options and their convenience, along with their added bonus: diversification.

In fact, according to the Investment Company Institute, since their inception, money invested in ETFs has expanded to over $250 billion dollars.

ETFs imitate an index or focus on a particular industry or country. What makes them different than mutual funds is that ETFs are traded like stocks. Rather than having an opportunity once each day to buy, ETFs are traded 24/7. Their price is determined by the supply and demand of the fund itself, not necessarily the contents of the fund.

In sharp contrast to the growing popularity of ETFs, bonds have always had a somewhat lifeless existence, at least in the eyes of most investors. Bonds aren’t fun or exciting, but for some, they are thought of as one of the most dependable investment vehicles out there.

Clearly, bond ETFs are catching on, but what makes them so fascinating?

Bond ETFs carry with them a great deal of transparency that hasn’t been experienced by many bond fund investors previously. The added knowledge of a bond’s accurate amount, with the ability of public trading, is new to many bond fund investors.

As with most investments, each product and investment strategy is meant for a particular investor. But bond ETFs offer a new, and surprisingly refreshing look at an old mainstay. As with all investments, they have their pros and cons, but if you’re looking for a tool that has added convenience, along with the bond characteristics, then a bond ETF could be the right choice.

Diversification looks to reduce risk by placing your investment bucks into all different asset classes to add balance to your portfolio. However, using this methodology does not guarantee against losing in a declining market.

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