Although the process is complex and frustrating, raising capital is the most basic of all business activities.

You must know the exact amount of money that you need, what your purpose is and how you will repay it in order to be successful in getting a loan.

The bank official who reviews the loan request is focused on repayment. Most loan officers request a copy of your business credit report to determine your ability to repay.

The following main points should be contained in a good loan proposal …

It is highly recommended that you prepay as much of your mortgage as possible every month, which will drastically reduce the total amount that you pay.

In order to refinance your home, the current market rate should be at least 2 percentage points lower than what you are paying on your mortgage.

This could be a low-cost option for borrowing but there is some risk involved.

A home equity line of credit is a form of credit which allows you to borrow and use your home as collateral.

The costs associated with getting a home equity loan are basically the same as a refinance.

After choosing a lender, you may be quoted a rate, which may “float” until the actual closing, meaning that it is not guaranteed.

The lender is obligated by the Truth in Lending Act to provide you with a written statement with a list of all of the costs associated with the loan and the terms of financing.

A reverse mortgage is a way for you to take advantage of some of the equity that is currently tied up in your home.

These interests are deductible, some fully, some partially …

Usually people that make a down payment of less than 20% are required to pay private mortgage insurance by their lender.

The co-signer enters an agreement to be responsible for the repayment of the loan if the borrower defaults.

Be careful when signing up for a home equity loan or line of credit – the disclosed APR does not reflect the total fees that are associated with the loan, such as closing costs and others.

With a second mortgage you will have a fixed amount of money that is repayable over a fixed period of time or is due in full at a given time.

Before you are charged any fees, the Truth in Lending Act requires that the lenders disclose to you all pertinent terms of the agreement …

Keep in mind that banks are always required to notify you of the fees for their accounts.

Checking Accounts, Money Market Accounts (MMDA), CDs …

This depends on how you plan to use the account.

There are several features of accounts you should investigate at various banks.

Only deposit accounts at federally insured depository institutions are protected by the FDIC.

Yes. Here are some tips on how to approach this …

This protects you from the possibility of bouncing checks.

This is a federal law that requires depository institutions to inform you of the following …

There are a variety of electronic transactions one can execute …

Call your bank as soon as possible, or within 60 days of the error.

It’s important to note the difference in how you will be reimbursed for credit cards vs. ATM or debit cards.

Yes, there are plenty of ATMs all around the world, but it is wise to check beforehand.

Your institution may notify your employer, or you.

You can call or write your bank, or often stop the payment by going to your bank’s web site.